Worldco, Santa Monica..Bait and Switch

Discussion in 'Prop Firms' started by rossmedia, Jun 21, 2003.

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  1. I am at loss. Not that I don't agree with your points about this "deal" rossmedia has.........but why do you care where he works?
    You do NOTHING but rip on people spamming this site and now that someone is adhering to the have a big problem with that? He made his point about a "bait and switch" which was countered and explained by other parties involved. Seems fairly simple....what is your deal with finding out where dude trades....who CARES????????????
    #61     Jun 25, 2003
  2. zake23


    I would feel left out if I didn't contribute to this thread. Todd, I know you know who I am. Most others don't. I believe I know who rossmedia is, although I never met him (at least I don't think I have). But I have no idea who TM Direct is. I am not quite sure why rossmedia started this thread, but you've seemed to create an amazing bitch session. Its actually pretty funny.

    I do not trade anymore for Worldco, although I am still licensed there (u5 not yet complete). I started trading there since the office opened. Adam is a very close friend of mine, and Todd use to be. Not that Todd couldn't have remained a close friend, he just doesn't call or hang out since leaving the office. What Todd did was very wrong. What Worldco did (having traders put up money) just sucked. It was very bad timing. I don't blame rossmedia (if its who i think it is) for leaving, nor do i blame most of those guys for leaving. But trying to solicit the rest of the office was not the best idea. Not to sure why Todd did what he did, but regardless of the fact, I think its time to put some of this crap to rest.

    TM Direct - the deal most traders receive in LA is very appealing. New traders will come in with a 95% payout. Clearing firms do not make money in the payout, they obviously make it in the commission. Payouts are only a concern when a trader makes money. It takes new guys that have never traded equity before months before a payout is any concern to a firm. By that time, they are making good money in the clearing. Commissions are also extremely low now. That was caused by competition.

    I don't know how much longer this bitch session will go on for, but i know I am enjoying it..............I am a good source of info, so you can ask me any questions you may have. Unfortunately, I cannot respond until a few hours after the close.......
    #62     Jun 25, 2003
  3. Magna

    Magna Administrator

    And now this thread is closed for good. I hope everyone got to provide their piece of the puzzle. All points have been made, all points have been responded to.
    #63     Jun 25, 2003
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