Pros
Nothing! All the reviews above 2 stars are fake, I have seen management write them! DO NOT WORK HERE
Cons
They WILL take your money! If you're an experienced trader and actually make money trading the best that will happen is you'll stay right at your contribution level and never actually cash out. So here is how this whole scam works: -You have to put up cash usually between $10k to $100k -This is your risk margin if you lose that amount you're out plus you owe them whatever amount bellow that you lost. -The fees are insane! You'll probably end up paying about $15k to $20k a year in transaction and "administration fees" depending on your buying power. -If you stop trading (AKA stop making money) the fees will eat your initial contribution right up because you cannot pull your money out! -I repeat: If you put money with them that money is GONE! Not because you lost the money trading, but simply because the fees will eventually eat it all up. -If you aren't at least a 10+ year experienced trader you shouldn't even be looking to join a prop firm but if you are an experienced trader; you'll make more money borrowing margin from a broker so don't come here. -Ignore the 3+ star reviews on here. They are fake (I have seen management write them up) -The managers will try to pressure you into making large day trades because they get paid on commission. You'll pay more in commission fees then rent in downtown Manhattan (simply because you're basically paying for your manager's rent and living expenses) -If you think you will learn how to trade or gain experience you are looking at the wrong place and shouldn't be looking at trading jobs at all. No benefits No salary All you'll end up doing is lose your contribution money