Are proprietary trading firms on Wall St legit?
This firm is located on Wall Street, I had an interview they basically asked me about stock trading history and pitch them a stock and analyze it, the usual stuff... Couple of hours later they e-mailed me saying I was qualified for the training program (requirement for break-in for the internship which eventually lead to full-time based on performance)... So basically pay $1k for the training program and then if I pass the exam, I get to either become a Financial Analyst 92+ score or Prop Day Trader 85+ Score... Interning for 2 - 3 months (paid), then based on the performance I would get hired full time or not...
I don't know I just didn't think it was this simple? Is $1k for 5 days of training too much? or too good to be true? I mean it the covered material looks extensive based on the link... And the only reason I think it's not a scam is that the paid internship would easily cover the $1k for the training no? (Unless I fail on my part and bomb the exam)...
And also is this legit to be able to trade without take any FINRA licensing exams?
So to summarize...
-$1k for 5 day training program which results in final exam if passed, gets paid internship (maybe eventually leading to full-time based on performance)
-Trading using company's assets
-It's on Wall Street
-It doesn't require any series 7/series 60's exams...Just the qualification exam at the end of the training session
-No deposit necessary as far as I know...
-I heard from a source that the trading software itself might be expensive...
So I'm just asking any experienced prop day traders to assess these aspects to see how legit this firm would be?
EDIT: The company is called Explore Trading Capital, and on their website has a tab called training programs and under stock professional trader it explains all the topics covered for the training...I personally think it's an extensive list, or am I just an amateur?





The company is called Explore
The company is called Explore Trading Capital, and on their website has a tab called training programs and under stock professional trader it explains all the topics covered for the training...I personally think it's an extensive list, or am I just an amateur?
any prop trading firm that
any prop trading firm that forces you to put in your own capital is shit
ky0ung: any prop trading firm
any prop trading firm that forces you to put in your own capital is shit
YOU JUST GOT TROLLED
http://www.troll.me/images/red-foreman322/dont-you...
UFOinsider: ky0ung: any
any prop trading firm that forces you to put in your own capital is shit
It is more of an arcade or
It is more of an arcade or bucket shop than a prop shop. The grand is so that they can cover their own cost of 'training' you. They will push all of the costs down on you. Skip it and move on. This is legit, but totally f'd up. And nobody on the street will take your career move seriously.
You don't need a FINRA license to trade. The licenses are geared to sales practices and B/D types. But if you do get into a shop, you might want to look into getting one.
SirBarney: UFOinsider: ky
any prop trading firm that forces you to put in your own capital is shit
"Well, you know, I was a human being before I became a businessman." -- George Soros
Gomez Addams: nobody on the
nobody on the street will take your career move seriously.
Yes. I know exacly one guy that went from these types of shops to a legit firm, and he was good, I mean KILLLING IT. You're better off as a trading assistant, at least you'll learn something and get a shot at a good desk.
YOU JUST GOT TROLLED
http://www.troll.me/images/red-foreman322/dont-you...
SirBarney: UFOinsider: ky
any prop trading firm that forces you to put in your own capital is shit
I hate victims who respect their executioners
Follow BH & Co. on Twitter: @DumbLuckCapital
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BlackHat: SirBarney: UFOi
any prop trading firm that forces you to put in your own capital is shit
Just saying...
turtles: BlackHat: SirBar
any prop trading firm that forces you to put in your own capital is shit
Husky32: turtles: BlackHa
any prop trading firm that forces you to put in your own capital is awesome
I didn't say it was your fault, I said I was blaming you.
Husky32: turtles: BlackHa
any prop trading firm that forces you to put in your own capital is shit
mb666: Husky32: turtles:
any prop trading firm that forces you to put in your own capital is shit
Hmm so how would one go about
Hmm so how would one go about getting into one that doesn't require personal capital? And what would it be like? They train you for free and then you work there?
SkepticalOptimist: Hmm so how
Hmm so how would one go about getting into one that doesn't require personal capital? And what would it be like? They train you for free and then you work there?
They train you and they pay you then they hire you and they pay you more. It's like a normal human job.
I hate victims who respect their executioners
Follow BH & Co. on Twitter: @DumbLuckCapital
twitter.com/DumbLuckCapital
JeffSkilling: mb666: Husk
Who are you going to believe, me or your lying eyes?
http://www.exploretradingcapi
BlackHat: SkepticalOptimist
Nabooru: JeffSkilling: mb
Rise early, work hard, strike oil.
SirBarney: BlackHat: Skep
YOU JUST GOT TROLLED
http://www.troll.me/images/red-foreman322/dont-you...
ChEM3: Nabooru: JeffSkill
Sounds sketchy to me
I help people with the tough situation of not knowing how to respond to emails.
qweretyq: ChEM3: Nabooru:
"I swear, by my life and my love of it, that I will never live for the sake of another man, nor ask another man to live for mine."
Macro
It is sketchy. Check