I am looking to find an arcade/prop house who offer remote trading. I am not lookign to be trained in trading, and i hold a 2 year track record. I have looked at the likes of savi but was wondering if anyone else could suggest places that allow you to trade remotely.
If you don't need training why not just open an account with an FCM? There was a lengthy thread here about whether or not arcades provide good value given the competitiveness of FCMs in terms of margin and commissions.
Do you need backing as well? Obviously that would affect things, I did read about a company called Pulsar Capital that would back you providing you pass a 1 month test on sim.
I can self back myself fully but i also read that a lot of arcades will bump on a fair amount to what you put in the account yourself hence why i have looked into the arcade route.
Yes but the down side is the monthly desk fees of £1500 upwards and the fact that margins and commissions from FCMs are close to what you'll get at an arcade. Anyhow the matter was discussed at great length in the following thread.
http://www.trade2win.com/boards/trading-arcades/91496-trading-arcades-have-had-their-day.html
With FCM you put in £10k they want £3k margin on an overnight, so with your account you can leave on 3 lots. If you lose the £10k then that's it you can't trade any more until you put some more money in. With FCM you keep 100% of profits after commissions.
With Arcade you put in £10k their margin is also £3k but they would let you leave on say 5 lots max. If you lose the £10k with the arcade a lot of them will let your account go into negative territory before closing you down, say negative £5k. At arcade, after commissions are paid, you take home 80-90% of profits and they keep the rest.
I think that's the main gist of it. The numbers I've used above are just an example and not exact.
With Arcade you put in £10k their margin is also £3k but they would let you leave on say 5 lots max. If you lose the £10k with the arcade a lot of them will let your account go into negative territory before closing you down, say negative £5k. At arcade, after commissions are paid, you take home 80-90% of profits and they keep the rest.
I think that's the main gist of it. The numbers I've used above are just an example and not exact.
Macro Guy,
If you're a self backed trader wanting to go remote then call up the firms on the "Arcades List" found in the "Traderpedia" of this site. I'm certain you will get at least 5 firms happy to take on your business.
I'd also look into the FCM route more.
"i also read that a lot of arcades will bump on a fair amount to what you put in the account "
Not sure how many would actually add money to your account straight away, I'd imagine they would after you have been with them for a few months and shown a consistent profitability.
If you're a self backed trader wanting to go remote then call up the firms on the "Arcades List" found in the "Traderpedia" of this site. I'm certain you will get at least 5 firms happy to take on your business.
I'd also look into the FCM route more.
"i also read that a lot of arcades will bump on a fair amount to what you put in the account "
Not sure how many would actually add money to your account straight away, I'd imagine they would after you have been with them for a few months and shown a consistent profitability.
A Dashing Blade
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arabianights
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What kind of volume you doing and what products?
arabianights
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PM me, I can pass details on to my MD... 400 r.t./day is borderline but if it's combined with other things should be possible to offer something...
Or come to chat room in my sig tomorrow, we're having a meetup a week on Friday, you can come to that if you like...
Or come to chat room in my sig tomorrow, we're having a meetup a week on Friday, you can come to that if you like...
Have you spoken to Kyte Group? They require quite a large account size and charge a platform fee which is quite steep but commissions are very low. They also seem to offer backing in certain circumstances
If remoting is one of the key factors, could you not just approach a firm that you like the look of and ask if you can run Windows Remote Desktop (or, if there are firewall/IP address issues, GoToMyPC, or something similar). In different circumstances, I have used both, and both worked very nicely.
arabianights
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Some people here have gotomypc on their trading systems so they can control them using an iphone in the pub... seems suicidal to me that
Most trading software allows you to install it on any PC and then use a VPN to connect to prop house's network... I would be sprurised if there's any place that DOESN'T offer this service actually.
Some people here have gotomypc on their trading systems so they can control them using an iphone in the pub... seems suicidal to me that
I'm still trying to forget about that.
Macro Guy,
Was in a very similar boat to you was doing about 400 RT trading Bobl´s was at a big name arcade and as pboyles rightly has pointed out the topic has been covered in the thread he mentioned ,anyway when I had to pay for desk fees of 2000 pounds per month plus and give a split away , I was left with a postal workers salary even though I was profitable and consistant ,anyway you may want to look at http://www.fairvaluefutures.com/ who I joined a few months back they offer both prop and retail deals both where you can keep 100% of your profit and remote in from home .
Was in a very similar boat to you was doing about 400 RT trading Bobl´s was at a big name arcade and as pboyles rightly has pointed out the topic has been covered in the thread he mentioned ,anyway when I had to pay for desk fees of 2000 pounds per month plus and give a split away , I was left with a postal workers salary even though I was profitable and consistant ,anyway you may want to look at http://www.fairvaluefutures.com/ who I joined a few months back they offer both prop and retail deals both where you can keep 100% of your profit and remote in from home .
