Trading Arcades have had their day

I want to make a point to all that read this thread that typical prop trading arcades without naming any names have had their day, most experienced intraday traders have drastically cut down their daily trading volumes and so the need for very competetive round turns is just not there anymore, putting 10k sterling or so down, paying 2500 pounds per month desk fees giving away a 20/30 % split in order to gain cheaper commissions and get 4 :1 leverage
is ridiculous , there are many FCM´s that give 4:1 leverage take no split and charge
a fraction more for round turns and give you x trader and such at cost price again not naming any names! unlike the mark ups for desk fees and equipment the arcades get away with, net net your better off with an FCM than an arcade that is if you are experienced and not looking for a grad spot, most of my fellow friends and traders who have been around the markets for the last 15 or so years have gone from trading spreads in large clips in stirs and fixed income 200 -1000 lot clips are now trading different time frames and more like 5 - 50 lot clips depending on contract ,so if your doing less than 10,000 lots/sides per month which many are .I personally have gone from 50,000 lots per month to sometimes 5000 a month. Iam at an FCM, and there is no comparison , the customer service is superior in every aspect, I can draw on my profits instantly without having to chase the governor round the room for 2 weeks to get my profits they treat me with total respect and I get the same leverage that I would in an arcade with any platform I want at cost price and give no split on my profits, why on earth would you want to be at an arcade when there are so many better options, final bit of food for thought most arcades are trying to diversify into broking and such as their traders are not doing the kind of volume they did in the heyday 1999-2007 and it is nigh on impossible to get a backed deal ,whilst 6 years ago more or less anyone could have got a deal, basically people dont be lazy or stubborn have a look and shop around , you´ll be surprised for the kind of trading you are doing arcades are as useful as tits on a bull your wasting money, there are other options.( NB I will not slate any firms in name or promote anyones services so dont ask me to)

Weakpunter,

Do you really get 4: 1 at an FCM ? Iam trading bobl´s outright at an arcade in the city I put down ten grand last year with a well known prop house last year and know what you mean about the costs Iam paying about 2000 grand a month desk fees and for xtrader and give a 30% split to the firm ive got 30 bobls for my 10 k, and do about 2500 RT´s a month. after making 6 k last month I was left with about 2700 quid . are you trying to say Iam wasting money?

I too am trading at an arcade in the City and pay just short of 2k per month which I get desk front end xtrader and cqg. I feel like im paying too much and am looking for alternatives at the moment am interested in your post and agree that they appear to have had their day.

Gmarx,
Look mate dont take offence but just try taking your head out of the sand and look further than arcades as a vehicle for your trading , if you want me to tell you that your wasting money then all I can say is yes you are, I put down 10 k sterling with an FCM and have got 30 bunds which is more than your 30 bobls and my xtrader cost is 500 quid and I dont give a split I probably pay 20 or 30 cents more than you in comms which makes no difference really if your doing less than 5000 sides per month , do the sums Iam up about 2-3 grand on you based on your costs if I have roughly the same p&l

mkyfutures,

Thats pretty much the sum of it I think mate , I spent 13 years at arcades and just switched to an FCM last year and my first thoughts were that after chopping my volume right down in 2007 I worked out that I had probably given away 60-70 grand over the last 2 years needlessly to arcades for supposed leverage which was not any better than an FCM could give me, So dont be frightened of change arcades arent what theyre cracked up to be especially after so many went under in 07 , they chopped back on the limits for everyone and rightly so but in that case , it dosent make any sense paying the extra for me anymore...........shop around mate.

If anybody is looking for low cost office space in central London on a co-op, non profit making basis, see this thread.
http://www.trade2win.com/boards/trad...ir-update.html

loving all the 1 post wonders in this thread

Check this out:
http://www.tradewithvelocity.com/com...?productID=220

For your 10K you could get 20 bobl, 100% split, and TT for £500 (although I think it's over rated by miles now. Was the top dog 5 years ago but Ninja Trader easily competes when doing out rights and is excellent vale at $60 a month)

Other benifits include no commute, no need to 'rent' the hardware (don't know if they still do this), instant withdrawls, greater acces to different marekts, 24 hour trading.

I'm personally with Mirus but the costs are about the same for most brokers. For other firms check out:
http://classic.mirusfutures.com/
http://www.advantagefutures.com/Home.html
http://www.globalfutures.com/index.asp
http://www.infinitybrokerage.com/