New Trader. What is up with Tradenet and Meir Barak?

This is a discussion on New Trader. What is up with Tradenet and Meir Barak? within the First Steps forums, part of the Reception category; I am new to trading (been paper trading for two weeks now). In no way am I affiliated with Tradenet ...

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Old Aug 21, 2014, 10:27pm   #1
 
9 Posts
Joined Aug 2014
New Trader. What is up with Tradenet and Meir Barak?

I am new to trading (been paper trading for two weeks now).

In no way am I affiliated with Tradenet or Meir Barak. Recently I have been looking for a broker to start day trading with. Problem is you need $25,000 in the US to day trade. I have around $10,000 to invest.

I also saw you can join Meir Barak's prop group for $10,000. This $10,000 is solely to join the prop group and have access to everything; you DO NOT get it back, it is a purchase. This purchase provides you with an account with $200,000 buying power. You keep 100% of the profits until you make your $10,000 back, and then any profits over $10,000 you keep 80% (this can be negotiated over time.. so they say).

So I am curious what is all the hate for tradenet? Granted you loose $10,000 to start, and 20% of profits thereafter, what if you do not have $25,000 to open your own account to day trade? Are the costs not worth it? being able to buy 1000 shares of $50+ stocks seems very important to be a day trader.
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Old Aug 22, 2014, 7:59am   #2
Joined Sep 2013
Quote:
Originally Posted by Eager2Learn View Post
I am new to trading (been paper trading for two weeks now).

In no way am I affiliated with Tradenet or Meir Barak. Recently I have been looking for a broker to start day trading with. Problem is you need $25,000 in the US to day trade. I have around $10,000 to invest.

I also saw you can join Meir Barak's prop group for $10,000. This $10,000 is solely to join the prop group and have access to everything; you DO NOT get it back, it is a purchase. This purchase provides you with an account with $200,000 buying power. You keep 100% of the profits until you make your $10,000 back, and then any profits over $10,000 you keep 80% (this can be negotiated over time.. so they say).

So I am curious what is all the hate for tradenet? Granted you loose $10,000 to start, and 20% of profits thereafter, what if you do not have $25,000 to open your own account to day trade? Are the costs not worth it? being able to buy 1000 shares of $50+ stocks seems very important to be a day trader.
Check if they are regulated under US SEC or not. Do they have local offices in USA or it's just a website? It is easy to check their legal status, operations, etc. Check also if they underwent any independent financial auditing and any violations occured.
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Old Oct 14, 2014, 1:02am   #3
 
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Joined Dec 2006
Quote:
Originally Posted by Eager2Learn View Post
I am new to trading (been paper trading for two weeks now).

In no way am I affiliated with Tradenet or Meir Barak. Recently I have been looking for a broker to start day trading with. Problem is you need $25,000 in the US to day trade. I have around $10,000 to invest.

I also saw you can join Meir Barak's prop group for $10,000. This $10,000 is solely to join the prop group and have access to everything; you DO NOT get it back, it is a purchase. This purchase provides you with an account with $200,000 buying power. You keep 100% of the profits until you make your $10,000 back, and then any profits over $10,000 you keep 80% (this can be negotiated over time.. so they say).

So I am curious what is all the hate for tradenet? Granted you loose $10,000 to start, and 20% of profits thereafter, what if you do not have $25,000 to open your own account to day trade? Are the costs not worth it? being able to buy 1000 shares of $50+ stocks seems very important to be a day trader.
Hi

Did you open an account with them or not yet ?

I would love to know your experience

Thanks
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Old Oct 14, 2014, 9:07am   #4
 
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^the whole things stinks imho

Last edited by itspossible; Oct 14, 2014 at 9:15am.
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Old Oct 24, 2014, 10:20am   #5
Joined Jul 2013
I think itís quite simple Ė depends how good a trader you are!

Sounds like a good deal if you can trade, but not so good if you canít. Most people donít have the aptitude for trading Ė it takes a specific type of person, IMO.
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Old May 12, 2015, 6:06am   #6
 
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Joined Feb 2015
Hopefully you found elsewhere to put your money.
Mier is part of Colmex Pro of which stole money from me.
Tradenet prop room is as bad from reviews on investimonials
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Old Nov 22, 2015, 11:24pm   #7
 
6 Posts
Joined Nov 2015
Tradenet Account

Hi Everyone.

I came across this post looking for reviews on Meir Barak after investing some money day trading with them.
I actually have an account with Tradenet and made the $10,000 deal where you get $200,000 buying power and keep 100% of the profits until you make your $10,000 back, and then any profits over $10,000 you keep 80%.
I cashed out when I reached the goal I set to myself and then went back again with a bigger amount of capital.
Their withdrawal policy is one of their benefits and what eventually convinced me to deposit again and keep trading with them. You stick to what you know, as long as I is beneficial to you, and right now their trading room + their capital to trade with along with the ability to take my money out at any time do the job.
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Old Jan 10, 2016, 3:09pm   #8
 
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Joined Jan 2016
Quote:
Originally Posted by Eager2Learn View Post
I am new to trading (been paper trading for two weeks now).

In no way am I affiliated with Tradenet or Meir Barak. Recently I have been looking for a broker to start day trading with. Problem is you need $25,000 in the US to day trade. I have around $10,000 to invest.

I also saw you can join Meir Barak's prop group for $10,000. This $10,000 is solely to join the prop group and have access to everything; you DO NOT get it back, it is a purchase. This purchase provides you with an account with $200,000 buying power. You keep 100% of the profits until you make your $10,000 back, and then any profits over $10,000 you keep 80% (this can be negotiated over time.. so they say).

So I am curious what is all the hate for tradenet? Granted you loose $10,000 to start, and 20% of profits thereafter, what if you do not have $25,000 to open your own account to day trade? Are the costs not worth it? being able to buy 1000 shares of $50+ stocks seems very important to be a day trader.
I agree. Trading and investing is a calculated risk, but it is always a risk. Sometimes it's better to risk little at a time and earn a little at a time - so you can always stay in the game.
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