Worldco R.I.P. 1993-2003 ?

Discussion in 'Prop Firms' started by bmwstox, Mar 4, 2003.

  1. bmwstox


    I'm pulling out my capital before this place goes under. They fired the head of risk who was with the company for 5 years! No explanation either, they just let him go unceremoniously.

    The times have changed. Even some people with positive capital accounts are being asked to contribute more. I saw a team leader who had 3 of his guys axed yesterday, they were just hired 3 weeks ago! lol. Why would you hire people and then fire them? My guess is to charge them high commission rates and take their money. They also let go a bunch of tech guys, they now have phone people as techies. Anyone with a single monitor was also fired.

    I wish the industry would get better, but it's on life support right now. I'm getting the hell outta there! I would not advise anyone who is looking to join a prop firm join this one as per recent events. If you're gonna join a firm look for one that is a NYSE member or affiliated with a NYSE member. The one exception being Bright, he seems legit. Even if you've been at Worldco for years and have made them coin, they will slip the shaft up your ass real fast if it suits them. If they keep axing at this rate they will have nobody left to fire! The place has turned into a joke. My freind had 10 g's in his capital account, that dude Al demanded another 5 g's, claiming "we need our rent money." My freind said no, signed his U-4 and left.

    I'm gonna check out Andover, my freind is gonna manage one of their branches. I want my capital in a place I know will be here in the next few months. I still see the ad on monster! Stay tuned!

  2. Maverick74


    They fired Paul Marcontel? No way!
  3. Never liked them. Went there 2 times for interview and both times wondered why I ever went there it had to be all clear for me after the first time.
  4. bmwstox,

    geez! to be honest, i dont know much about worldco, but i did see their booth at the expo. It was so sad... all they had was a portable screen and a laptop. and the strange thing is that arent they HQ'd in NYC? I would figure that they would have a strong showing.

    If they are asking the traders to put in more capital, then that is a sign, as well as the head of risk leaving. If he was fired, I bet its possible that he wasnt willing to bend some rules for them.

    Good to see that you are going somewhere that is going to make you more comfortable. keep us posted if you hear anything else!

    Best of luck
  5. always thought most of these "prop firms" were scams especially WorldCo.
  6. silk


    I came to worldco with 3k dollars and a small car filled with personal belongings. Less than 2 years later i have made 2 million dollars. Not to mention they have cut my commission rates multiple times without me having to ask.

    If only i could find a few more scams like this.
  7. you know I might believe that if you were willing to post your name, but i'm sure you don't want to , so save the horatio alger BS.
  8. yo mondouseless.

    silk is the real deal
  9. Only when such a devoted Worldco trader as Hitman leaves the company it would be a death sentence to Worldco.
  10. Paul Marcontell came by the BT booth at the Expo, and we chatted for some time....seems like a nice, knowledgeable guy....I hope it wasn't him who was let go.

    #10     Mar 5, 2003