WTS Proprietary Trading Group LLC, Miami FL

Discussion in 'Prop Firms' started by chrisacosta00, Aug 24, 2012.

  1. So I recently went through an interview with WTS PTG here in Miami. I'm guessing they are a relatively new office since I have yet to find anything online about them. I'm a bit concerned about how legit and how much its really worth my time to go through the training and find the money for it. I'm graduating now at the end of the year with a BA in Finance and Economics. I have no experience in trading or stocks aside from trading my own personal account. I would love to get some real world experience in the industry. These are the numbers they gave me.

    200 a month desk fees
    325 one time Training and licensing fee (series 56)

    Once licensed I would need to fund my account with 2000 and they give me 100,000 buying power. I was also told is .35 for every 1k trades.

    Does this sound legit? Is the the norm when it comes to prop shops? I'm a student and I'm a bartender as my current job. $2525 isn't easy to come by. Please give me some feedback on what you think, or if anyone works for them that would be great also. Thank you
  2. What you described sounds like a pretty normal/decent deal for those types of prop firms. Just based on the statistics, though, you need to be able to fully lose all of the money you allocate to trading (since that's a pretty common outcome for new traders) so if you're not yet at that point where you can bear that risk, you should consider postponing starting until a later point.
  3. Hey, I would be very careful in Miami! That place is a third world country and full of scams.. I haven't been there in a while but you might want to try:

    These are all good firms...

    Wasserman is less heard of but is run by a very successful trader (He makes 7 figures a year from trading and can go years with out a loosing day). Real tough to beat his consistency.

    Bright has a really good pairs trading system and you could contact Don Bright directly here to see what type of a deal you can get.

    As for Schonfeld they are hard to get into but require no deposit!

    All of these are in the Miami Beach area.. Just be careful in Miami or with any South Florida Firm or Business for that matter. You could check out www.sunbiz.org to see if they are legit and check their background with the SEC.

    Finally don't just look at the deal.... Are these people going to be around after they get your deposit?

    Just Don't Trust Florida! A sunny place for shady people!
  4. LEAPup


    50:1bp? Lol!
    I'd be leery...
  5. do you guys know of Stonehenge asset mgmt saw their ad on craiglist
  6. LEAPup


    The problem with what you're asking is the word Craigslist. Run away!
  7. Hey LEAPup, how's it going? Long time, no chat. Yeah, someone suggested we use Craigslist at one point a few years ago, but I checked it out, and wow, I mean really "wow" - "Make $1000-$2000 per day, daytrading, just call this number" what a crock, LOL.

    Anyway, hope all is good with you my friend.

  8. I abandoned a career because of a craigslist post like that. I've now been trading for 8 years.

    Gotta start somewhere.
  9. Funny thing is that everytime I have heard Don Bright speak my opinion was that it was as bad or in some cases worse than the obvious snake oil quoted above.

    The combination of high commissions, high training fees, dated or no trade decision support technologies and a huge bust out rate offers an explanation that makes perfect sense to me as to why Don's parking lot is so empty these days.

  10. 35 cents per 1000 shares is the commission rate?

    #10     Aug 25, 2012