Folks, With all the mergers and changes in Prop Trading I would like opinions on the best Prop Firm now. I have looked at all the prior posts and surveys but I'm asking about now in 2005. Any feedback would be appreciated. Cheers
You need to be more specific. You mean futures, options or stocks. Also where, US, London etc. Not all firms have several offices globally. Some great firms exist with just one small office for example. Also what criteria are you looking at; splits, desk/comms, salaries, contract length or managerial attitudes etc. Each are different and are good in some departments and bad in others. Of course the occasional firm is bad in all departments, LOL. State you terms and I may be able to give some input.
There's no such thing as a prop firm in the US anymore. Unless your refering to investment banks or hedge funds. All firms now require captital contributions, hence, are all retail firms - or arcades and bucket shops if you prefer. And firms that do let you trade their money usually do so only under the condition that you trade 200000+ shares a day and don't lose more than the revenues you generate in commisions. Sign up with these firms and the llcs that linger around there and you'll come accross some of the shadyest people. There are exeptions, but they only confirm the rule.
dont know the best..but echo is the worst. i was trading there 2 years ago and while the platform was very good, the managment was less than good.
Not sure what happened to you, but I never had a problem with them, and thought they mgt. was honest and helpful.. My only complaint is that was a period of time ( 1 month) where the system would crash a few times a week. they fixed that though... I did a search on Assent, but couldnt find much. Are they prettty good since they changed from Andover?
A) Do you even know what a bucket shop is? B) Do you understand how today's "prop" firms work and why ppl choose prop firms instead of simply trading retail?
lol amen to mr. blunt, and also, there definately are prop firms around in the U.S. just because they aren't advertising doesn't mean they don't actively recruit -- http://themarkettruth.blogspot.com/