A heads up to anyone not in the know. There seems to be some issues with this firm. There license has been retracted and some of their traders have been posting (http://www.prop-trading.com/international-brokers-reviews) regarding their capital. Someone has even setup an AOL email account to receive tips and info to try and get a lawsuit going if necessary. It seems as though the IFSC of Belize has announced termination of their license (no reason why was disclosed). - http://www.ifsc.gov.bz/notices.html With the new regulations coming into effect and the SEC getting 1/4 billion new dollars to enforce them, I reckon this is going to be happening more frequently within the next year. I hope everyone has their $$ somewhere safe.
yeah I saw that notice on the website too. I posted something a few weeks ago. makes you wonder whos next? combined with worse tax cades for trading out of a international firm, I guess I will order that series 7 study book . Its hard enough to win money in the market, and having to worry about this stuff too, not worth it IMO
IBW was really the old Broadstreet group. Lakestreet and CTG were also putting traders through them. You can put the pieces together from there. The $250m new SEC money is for investor advisor oversight and not really for prop trading: http://www.investmentnews.com/article/20130414/reg/304149978#