trading firms without capital requirments

TheKid1

Jerome MarrowWhat kind of trading firm? Now legitimate prop shop will require you to put up your own capital.

Jane St and 5 Rings are two of the main trading firms based there.... FNYS as well along with numerous funds. Many/most that are based in Chicago also have a NY presence in some form (DRW, Infinium, etc.).

I was told by someone who works for a BB in S&T department that legitimate prop firms don't require you to put up your own capital, such as Jane Street, De Shaw. I know there is a firm that recuits at my school T3 trading but requires you to put up capital, and was told that if you dont make certain amount of money for them they close your account and keep your capital..

this is true.....real "prop" firms do not require you to put up large amounts of capital(such as 5 or 8k). The reason why many do is because of shitty business models. Many of these pseudo prop firms need the money from the client because many of them take people into trading without any experience whatsoever and think that they will succeed, when in fact it is a very difficult business and very few are successful in making an income solely from trading firm capital. Don't get me wrong, it is very doable and ive seen people do it, but they are few and far between. These pseudo prop firms take this money from clients and claim it is used for "training costs" when in fact its just them hedging against your fuck ups. The bottom line is this: if you can really trade and be consistent profit generator, then you can go just anywhere and find a true shop which has a business model that doesnt require your large deposit. In prop trading your worth to the firm is how consistently profitable you can be.

TheKid1

Jerome MarrowWhat kind of trading firm? Now legitimate prop shop will require you to put up your own capital.

Jane St and 5 Rings are two of the main trading firms based there.... FNYS as well along with numerous funds. Many/most that are based in Chicago also have a NY presence in some form (DRW, Infinium, etc.).

I was told by someone who works for a BB in S&T department that legitimate prop firms don't require you to put up your own capital, such as Jane Street, De Shaw. I know there is a firm that recuits at my school T3 trading but requires you to put up capital, and was told that if you dont make certain amount of money for them they close your account and keep your capital..

DE Shaw is a hedge fund, but either way, the 'prop firms' that are like T3 Trading are not worth much unless you have some strategy you have tested and want to use with some degree of leverage. There are arcade type places (basically like this) that essentially provide most of the technical and back office type organization for you and let you leverage up your capital and/or use some amount of the firm's capital. How much you will learn and how valuable such a position is long term is probably tantamount to a sales job for Cutco helping you learn how to source deals in PE.