Is SMB Capital a Profitable & Reputable Prop Trading Firm?
I'm a fresh grad with a BS in Economics and am looking to get into trading professionally. I've heard that SMB Capital is a legit, reputable prop trading firm from people on internet, reddit, and the opposite from some old posts about SMB on WSO years back.
From more research, I think SMB is an arm of T3Trading which does not have the greatest of reputation.
Is SMB Capital both a profitable and reputable prop firm?
If they don't have the greatest of reputation, what are legit prop firms in NYC, and how do I enter into prop trading (how do I start to get a job with one)
In nyc? Citadel, Jane Street, Five Rings, Flow Traders, HRT are the main prop shops/HFTs I believe.
Yeah these firms are the most reputable. They are more quant, math focused and I don't think they are discretionary point and click traders. I applied for Citadel, and Flow Traders and both obviously rejected me lol
Are there any reputable discretionary point and click prop firms in NYC? A lot of them seem faux and shady. I'm still iffy on SMB. They don't seem legit.
SMB is one of the original zaibatsu Japanese trading firms. To call them iffy clearly shows you have no ideas what trading entails which is not just equities like the more commonly mentioned names on this forum. They move everything and may be more similar to the energy traders in the types of people they look for. Do more research on what you mean by "interested in trading."
I meant SMB Capital not Sumitomo. Obviously Sumitomo is legit.
When you say similar to energy traders, can you say what you mean by that?
Well, any firm that does not give you a competitive salary is not somewhere you should work at. Moreover, discretionary and point and click (maybe you mean like brokers?) are different. Discretionary trading does exist at the shops I listed above (except HRT), but it just happens that they would rather quantitative people make those decisions. I think this is the case for any modern trading firm.
First NY and Trillium perhaps?
Short answer is No. I know someone who did the SMB Capital (unpaid) internship and claimed it was this very legitimate prop shop but anybody who looks into it can see that it’s essentially a trading “school.” You pay for them to teach you how to trade, whatever that means. They may actually have a handful of legitimate proprietary traders, but it’s a facade for their trading courses from what I gather. It’s like a real life version of Tai Lopez selling you on his guru courses except you actually go into an office to take the class and the focus is on trading. If you’re looking for paid employment, rather than paying the firm, you’ll have to look elsewhere. However, based on your apparent knowledge level of the industry, taking the SMB crash course might not be such a bad place to start... good luck
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