T3 Trading Group Reviews

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Rating: 3.3/5 (49 votes cast)

T3 Trading Group, LLC (T3) is a CBSX registered broker/dealer whose proprietary traders focus on intraday momentum, swing, and technical trading of US equity markets. T3, based in downtown New York City, specializes in the development of both new and experienced traders from around the United States.

WEB: http://www.t3live.com

Phone: 646-454-3597

1 State Street Plaza, 10th FL
New York, NY 10004

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Rating: 3.3/5 (49 votes cast)
T3 Trading Group Reviews, 3.3 out of 5 based on 49 ratings

11 Responses to “T3 Trading Group Reviews”

  1. anothony says:

    most of their $$ is spent on their marketing which works really well. I paid for their chat. They put up their good trades and leave the bad ones out. You don’t get anything here that you won’t get at another firm. Their rates were insane the last time I checked, which can be attributed to their recent CBSX broker-dealer registration. You’ll get the same out of pretty much any room in the market.

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  2. mark says:

    they offer a nice free 30 day online course. it got me interested in their training programs and for the quoted $2600, I might sign up. of course, you should do your due diligence and find a firm you are comfortable with. t3 seems like they’ve invested a lot of time and effort into their training courses.

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  3. Michael says:

    Read the T3 Trading Group Annual Report before you apply for a job as a proprietary trader. In 2012, 99.89 percent of T3 Trading Group’s revenues came from the trading fees T3 charges its proprietary traders. Only 0.106 percent of T3 Trading Group’s revenues came from their share of the profits its traders made. T3 charges its traders for every share they trade. Traders are discouraged from trading a low number of shares per trade even if their trades lose a lot of money and even if they are placing the same number of trades.

    The manager’s free training classes were vague. The manager’s free training materials were skimpy. T3 Trading Group sells a lot of training products. One year ago, the training products were a lot more expensive. I never paid for any of the company’s training products.

    The T3 Trading Group Annual Reports can be downloaded from Edgar on the SEC website. The Annual Report is Form X-17A-5. The “Statement of Operation” (Income Statement) is interesting. The website address is: (www.sec.gov/edgar/searchedgar/companysearch.html).

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    • jim says:

      Michael, not sure where you got your other info, but the revenue breakdown you cited is not supported by the SEC filing. It would be quite a feat to generate $15mm from trading fees and virtually $0 from gains and still be in business.

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      • Michael says:

        An annual report audited by an accounting firm that is filed with the Securities and Exchange Commission is more accurate than your lie. Everyone can go to the SEC website to download and read the T3 Annual Reports.

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        • jim says:

          Michael, I have nothing to do with T3. Says a lot about you that you respond to a pretty innocuous comment by calling a stranger a liar. What I saw on the SEC site had two line items for revenue. The first line was Gains from Trading and totaled $15mm+. The second line was Commissions and totaled $16k. I was simply pointing out that your interpretation is not supported by the documents you cited.

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      • Michael says:

        People should also read the other T3 Trading Group reviews on the other websites. Many reviews talk about the high turnover and about how almost no one makes any money trading. T3 makes a 50% gross profit on the trading fees T3 charges its proprietary traders. Where are T3 Trading Group’s revenues coming from if almost no one is a profitable trader?

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  4. mannyA says:

    ‘michael’, turnover rate is industry wide, it sounds like your short comings as a trader are your fault, and not commissions or fee’s which seem to be the basis of your complaint. I just wonder what would you say in 1999 when fees were in the dollars, not pennies. That being said, a broker-dealer’s income source does come from commission’s, but show me one broker that doesn’t charge commissions, can you? To say that nobody is profitable is laughable and further discredits your meager attempt to give this company a bad name. Seems like you just failed miserably and looking for others to blame for your own short comings. In my experience t3 is very competitive in regard to fees and commissions and are always on time when it comes to paying the traders that do make money.

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  5. Michael says:

    UPDATED REVIEW

    The T3 Trading Group Annual Report (Form X-17A-5) can be downloaded from Edgar on the SEC website. In 2012, 99.89 percent of T3 Trading’s revenues came from the monthly fees and the trading fees its proprietary traders paid to the company ($15,106,432). Only 0.106 percent of T3 Trading’s revenues came from its share of the trading profits ($16,082). T3 Trading charges its traders for every share they trade. Traders are discouraged from trading a low number of shares per trade even if their trades lose a lot of money and even if they are placing the same number of trades.

    T3 Trading charged each of my co-workers about $1,000 a month in trading fees. The $1,000 a month does not include the losses from the trades. On some days traders were profitable, but on most days they were not. Many traders are also charged several monthly fees. Total monthly fees can be as low as $120 a month. After one month at T3 Trading, one unprofitable trader was allowed to double the number of shares he traded ($2,000 a month in trading fees). Some traders may have trading profits that will offset some of the trading fees (and monthly fees). My manager told us on several occasions that many traders deposit additional money when the fees and the trading losses deplete their initial $7,500 capital contribution.

    Turnover at T3 Trading is high. The Linked In website profile of CEO Sean Hendelman reveals that T3 Trading has more than 400 proprietary trading jobs. My manager told us that it takes 6 months for traders to become profitable at T3 Trading. If the average trader quits T3 Trading in 6 months, then 800 people held those 400 trading jobs in 2012. In 2012, each of those 800 traders paid T3 Trading $18,883 in monthly fees and trading fees. Some traders may have trading profits that will offset some of the trading fees (and monthly fees).

    What are the odds of being a successful trader at T3 Trading Group? In 2012, all of the traders at T3 Trading had $53,607 in trading profits. The traders’ share was $37,525 (70%), and T3 Trading’s share was $16,082 (30%). It is possible that 799 out of 800 traders received nothing, and one trader received $37,525. It is possible that 798 out of 800 traders received nothing, and two traders received $18,762.50 each (the equivalent of a $9.38 per hour full-time job). It is possible that the top one percent of the 800 traders received $4,690.62 each, and the remaining 792 traders received nothing. No wonder most traders resign in a short period of time.

    The T3 Trading website reveals why revenues from the paid training products are not on the T3 Trading Group Annual Report: “T3 Live and T3 Trading Group, LLC are separate, but affiliated companies through common ownership.” The T3 Live website advertises two courses that cost $1,997 each. The Virtual Trading Floor costs $200 a month. T3 Live has many paid products. I never purchased any T3 Live training products. My manager’s free training classes were vague. My manager’s free training materials were skimpy. About two months after I resigned from T3 Trading, T3 Live sent me an email that offered me a yearly subscription to the Virtual Trading Floor for $999.50. I was also offered a package of one course (I had three choices) and one year of private mentoring for $1,199.

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    • mannyA says:

      At least they are not like FORTRESS CAPITAL/ACADEMY, what a joke that company is, and that guy VINCE running it is as sleazy as they come, they tried to charge me for classes and there is no chance they will ever let you trade their capital they only ask you to deposit more!! they just want your money and have little to offer.

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  6. Joe M says:

    Everyone wants to be a trader. The majority of prop firms out there are incredulous. Their profits are from selling subscriptions, software, training etc.

    If you want to really be a trader you have but one option:

    Get into an Ivy League school, come out in the top 1% of your class, have extremely strong math skills, complete an MBA at an Ivy, come out at the top of your class.

    Other than that, your hopes of becoming a successful trader, or trading a firms capital is dashed to nil.

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