capital contribution at prop firms
I was wondering, at some prop firms, how it often works with the "capital contribution." One firm I recently interviewed with would want a 7000 capital contribution for ~95000 in an account. Others, smaller, some more. If I were to join such a firm, under what requirements would I be to refill, or contribute more to the firm? Say my account is at 93000 a week or two into it, what happens?
Yes I'd rather a firm with none, but in this economy, even finding a job isn't easy.
I'd be very VERY cautious of firms that require an initial 'investment' to just be able to trade. There are a few really good prop firms, those do NOT require any sort of capital contribution and you get a salary as well. Search the forums, good luck.
Dont go to any companies that put that kind of obligations. I know some like that, most of it are shitty companies that at the end of the day will get you sucked instead of the other way around.
can any of you answer a question about these firms without the usual "they're playing you," "its a scam" whatever. Do you really think anyone of us who goes here is doing it cuz we actually think we're gonna get rich? We're doing it because it better than no job, a "business bridge" program, or whatever, and many people do break into legit Wall Street from some of these places, just use advanced search on LinkedIn, and put in one of these company's names on "company" and select "past not current." This attitude, and lack of answers to questions people ask is kinda condescending.
I understand what you are saying. I'm not a trader, but do have a legal background -- I would read that employment contract very closely. I see a lot of potential ways you could get screwed once you handed them money.
Also some information here: http://www.wallstreetoasis.com/forums/prop-shops-how-to-discern-legit-j…
ok. goodluck. bye.
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