Philadelphia Prop Trading Group
Hey everyone,
I've been looking into <span><a href="/company/philadelphia-proprietary-trading-group">Philadelphia Proprietary Trading Group</a></span>, but I can't seem to find many reviews or anything about them besides whats on their site. If anyone has any experience with them especially about their training program with new traders I'd appreciate the feedback. Looking for details on anythign from structure/payouts, autonomy, upfront capital contribution, leveraging, etc...
Thanks
I just interviewed with them thursday, have you interviewed yet? They seem pretty legit, small office. They are hiring a bunch of folks, maybe 15+. He mentioned they are trying to expand their office, so I dont know if thats a good sign or not. I got the run down on the details on how they run their business.
required $2000 to start, covers them and yourself from losses 70/30 split fee of $.0035 per 1000 shares 1 year lock on that initial $2000 avg $150 a month in fixed cost which im sure will fluctuate if you are a beginner there is a max loss of $50 a day
Im seriously considering taking a spot with them...Im a novice trader myself....I know enough to do it on my own but I want to get better. So training from is a big plus to me. Only thing I didnt like was that there is no guideline on training, they kinda pair you with someone and you get mentored and trained one on one...which depending on your learning curve can be good or bad....
again im very curious about them also, so if you have info please share....and fyi they are a subsidiary of WTS prop trading
Newer, growing firm run by real nice guys. For those interviewing, remember to go to the Philadelphia Proprietary Trading Group Hub and do a interview summary.
Commuter, I got offered a spot with them and I am seriously considering joining, any info or opinions or experience you may have on them that I should know???
any help is definitely appreciated big time.
thanks
I just have communication with them on a semi regular basis. I have never worked there so I obviously can't comment on that, they train which is a good signal its not a dump like some other shops.
any more experiences or reviews here?
I saw that they just opened a second office in Media, PA. It's just outside of the city. I spoke to some one over there that said they brought in 2 new senior traders from another desk to train and trade live on the floor. I am thinking about going to check it out. Has anyone seen their new trading floor?
Alot of the good traders left... I used to work there. Not going to name any names. There were good bunch of guys. I don't know how to office is in Media, It's alot of new guys now. I'm sure it is the same. If you can't make money, I wouldn't even try... If your an actually profitable trader, I say go for it. You make your own hours, you make what you want. Of course, you have to get the 56 or get a waiver you have the 7.
Idk man I heard the WTS group is an arcade. How much have things changed?
Too be completely honest, I know alot of prop guys who worked for investment banks and left to either work for themselves but majority went to hedge funds, asset managements or just left the field completely. WTS is an arcade.... IF you don't know what the hell you are doing. I know alot of guys who goes into these prop chop shops and made a lot, but again, these aren't just some high school drop outs who provided capital contribution and got lucky. I used to work for a boutique investment bank, we used bloomberg, FXGO for currencies and of course there is number of ECN routings we can go through, dark pool, algos, multiple books... WTS has alot of these order routings to measure up against the big boys. But again, you have to know what you're doing. To be honest, there was much training, it's either watch the taper and LV2... which is completely fucking bullshit. Don't go in the chop shop... ONLY IF YOU KNOW WHAT YOU ARE DOING.
There wasn't much training*
Even retail trading platforms have access to dark pools, algos, all the news and modeling bloomberg offers, etc. Not exactly sure why you believe a boutique investment bank has some extra special shit compared to a prop shop or high end retail trading platform. Arcades have their place, leverage and the ability to day trade with under 25k is pretty worthwhile for a lot of people.
First of all, retail platform doesn't have all liquidity pool, it doesn't feed news as fast and theres no coverage on other instruments. They don't day trade..
I'm pretty confused by what you just said.
"retail platform doesn't have all liquidity pool." What are you referring to? No capital contribution firm has access to every dark pool in the US, what traders paying the fees could afford or even want access to them all? Your boutique investment bank didn't either.
"it doesn't feed news as fast." Says who? I get access to instantaneous news feeds equally as fast as when I sat in front of a bloomberg terminal all day.
"no coverage of other instruments." Again what are you referring to? I can trade equities, futures, options on both, fx, bonds, etc. I also can do this in all of the major exchanges globally be it australia, tokyo, london, or the US.
You are greatly overestimating what your boutique investment bank had in comparison to what exists to everybody.
So you can trade OTC derivatives?
Why would an individual look to trade these? Clearly they have their role on the sell side when they are client facing, but for an individual capital contribution prop trader, come on man really? The inability to call up a customer and do a swap is the difference between the success of an employee at a boutique investment bank compared to a trader anywhere else?
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