Comments on: List of Proprietary Trading Firms

by: sexytrader

Wed, 17 Mar 2010 04:13:38 +0000

Bobby,

Thanks for your post….I - like Dimitry - am looking for an honest prop firm in LA, NY or SF who does not require a capital contribution and who focuses on training.

I have traded successfully for a Wall Street prop firm for 2 years but had some personal issues to deal with that are now dealt with so I am now returning to trading..

any advice would be greatly appreciated!

by: Dmitry

Thu, 11 Mar 2010 19:57:11 +0000

The shop where I work as a manager trades through WTS and everything looks fine so far.

Does anybody know the reason Swifttrade doesn’t have any offices in USA?

by: BOBBY

Wed, 10 Mar 2010 18:11:22 +0000

I heard WTS went under …or should I say they were ‘restructured’ to the point of no more trading…anyone else heard that? In respect to Oliver Velez he has several names for his company and there are reasons for that ..i think it used to be VTM and then it changed so somthing else and then somthing else…. if you google him u will see all sorts of interesting comemnts including the NY Fox Channel 5 “Shame on You’ clip….you might be able to get it on yotube… Shame Shame Shame Shame on You….Fox 5 in NYC does it to embarass people with ‘questionable’ buisness practices-

The bottom line is if you are recieveing leverage on your own funds you need to be registered…not always licensed w/ a S7,-S63 & S55- thou you do at some firms …but you have to at least be ‘registered’ meaning U4 and Finger Printed…otherwise you can not ‘legally’ get leverage/buying power on your funds…

Sure some places will offer you that….but when you $ dissappears or regulators shut down the firm …you screwed….food 4 though….it happened to me years ago and now I play w/ the real firms….sure they lock your initial deposit up for a year but I don’t care…i plan on trading longer then 1 year out and the bottom line is alot of places let you put in 5k or 10k as a min. So you are not locking up $25k or $50k. And if you cant committ or lock up $3500 or $5k for a year–you shouldnt be day trading…I hate to tell it like it is but thats the truth

by: CleanRae

Tue, 09 Mar 2010 03:50:35 +0000

I have been reading the postings on here and you guys have a lot of knowledge.

I am an experienced trader in the Boston area and have been trading retail accounts and my own account for sometime.

I am looking for a prop firm that will allow me to trade without a capital contribution in the Boston area. I am Series 7 licensed. Obviously I would like it to be a stand up firm.

Any info would be appreciated!!

by: John D.

Sat, 06 Mar 2010 05:14:50 +0000

Anyone here heard of Chimera Securities in NYC? Are they legit? I’ll be having an interview next week.

Thanks in advance

by: halligan

Wed, 03 Mar 2010 03:35:58 +0000

Actually, VCM(my mistake) Vales capital management, smth like that

by: Shawn

Tue, 02 Mar 2010 18:42:40 +0000

San Fran,

By WTS, you mean WTS Proprietary Trading Group? I’m not sure what VSM is. Do they both have offices in San Francisco? That’s where I’m from. Also, how are their training programs?

-Shawn

by: San Fran

Tue, 02 Mar 2010 17:59:46 +0000

Halligan,

I agree with you. I do understand what you are trying to say about VSM and WTS, I have seen many traders gone through that process in WTS. But only point that I wanted to say that not every firm is WTS and VSM. They are few (as rare as alien siting) firms that want to run a honest prop firms.

by: Johny

Tue, 02 Mar 2010 12:01:27 +0000

Lauren, none of the prop trading market makers, such as Jane Street, IMC, Optiver, All Options, etc. require capital deposit. Also, when you start working you are on the salary. I’m not saying that it is a better model (or worse) than arcades or that market making is better strategy than taking directional bets, simply it’s more appealing to some people, especially for people coming out of grad school.

by: Lauren

Tue, 02 Mar 2010 05:05:48 +0000

It is ridiculous to think that a prop firm will not require a capital deposit if you have zero experience. If you have experience and thus a verifiable track record, you can go somewhere where this will not be the case. Training can come from all kinds of less costly sources, as well as monthly subscriptions to sites such as T3 or Briefing.com etc etc.. But all in all, the more you are a part of the market and stay diligent about your building your base of knowledge - you will get somewhere. If you are adamant about not ‘contributing’ a starting capital - then go work for an investment bank or a fund where you will gain insight and exposure into various trading strategies and techniques. Best of luck to all.