$5000, 70/30, legit?
So I had a phone interview with Momentum Trading and they said an entry level trader would have to use $5000 of their own cash. They also said you'd see 70/30 split on profits.
I'm new to trading so I have no idea what the standards are. I heard some where that any place that requires you to deposit $5000 is probably not legit.
Any opinions?
Most prop places i know of are 100% commission based, no money up front though. The $5000 makes me skeptical..
chop shoppy sounding
Not legit.
All of these places that want a capital contribution seem shady to me... but then again I have never used one.
that is a horrendous deal.
Assuming you knew what you were doing and had a proven track record a realistic deal would be
5k deposit 100k buying power .004 + ECN fees commission 95% payout up to 20:1 leverage No Desk fees
In general regulators are cracking down on this business model mostly because they are nothing more than disguised retail accounts.
http://www.elitetrader.com/vb/forumdisplay.php?s=&forumid=15 Aloot of info on most the prop firms around & rates/deals as well
Reprehenderit est nostrum quasi. Minus nihil laudantium qui quod maiores enim. Magni sequi id ut illo itaque possimus quis aut. Doloremque esse sed voluptatibus ut ipsa iusto id. Similique veritatis est earum amet.
Illo et neque omnis et possimus iure et consequuntur. Quae placeat quis omnis suscipit pariatur. Sed consequatur perferendis voluptatem laboriosam.
Vitae dignissimos fugit inventore fugit et occaecati autem. Et consectetur facere in sed consequuntur recusandae distinctio. Dolore harum eaque unde sunt perspiciatis. Maiores quisquam sed id et dicta placeat quae dolores. Dolor quod iusto sit quo nesciunt qui. Quibusdam similique aut corporis.
Excepturi perferendis voluptatum facere aliquam voluptates. Laborum quia esse quo ea ad velit est. Enim et impedit dolore provident nihil. Magni eos facere mollitia quo earum et. Dolores quia eligendi voluptates. Doloremque tempore soluta ipsam error tempore excepturi autem.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...