T3 Trading Group

T3 Trading Group
  • Honesty
  • Quality
  • Cost
  • Support
  • Prop Trading Opportunity
  • User Experience
5.0

Summary

T3 Trading Group is a legitimate proprietary trading company. They honestly seek to help and enable the retail trader into becoming a fully licensed and registered proprietary trader.

There are a multitude of reasons why a person should become registered. The number one reason is to gain access to leverage and massively reduced trading fees.

Finally, by becoming part of a legitimate proprietary trading company, you will gain access to people that are actually making a living at trading.

T3 Trading Group has included special benefits to TradingSchools.Org readers, which I have described in this review.

Thanks for reading today’s review of T3 Trading Group

T3 Trading Group is a proprietary trading company, and a stock brokerage. T3 Trading is also a member of the NASDAQ. Everything about T3 Trading is regulated and under the auspices of the United States Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (Finra).

T3 Trading should be considered the ‘gold standard’ of prop trading legitimacy, regulation, and investor safety. The company also maintains state licenses in all 53 US states and Territories.

They have been around since 2003, and they know what they are doing. This is not a ‘bucket shop’ operation.

The company is based out of One State Street Plaza, 10th Floor, New York, NY. The headquarters is a massive, 12,000 square foot office that houses administration, compliance, IT technology, and a giant trading floor. The trading floor is every bit what you would imagine; banks of desks lined up, with computer monitors stacked in the hundreds.

t3 trading group

The company is listed with Finra.Org as follows:

T3 Trading Group is a sprawling operation. In the past 10 years, T3 Trading has essentially bought out or merged with nearly all of their competitors. The result is that T3 Trading Group now has offices located in various locations throughout the United States.

With any large organization, it is easy to get lost within the structure and hierarchy of staff. For the purposes of this review, I want to only focus on the Atlanta, Georgia office of T3 Trading Group. The owner of the Atlanta office is Anthony Guarraci, and he was ultra helpful in putting together the information to write this review.

Before we go any further, I want to take a moment to talk about the differences between T3 Trading Group and T3 Securities. You are probably wondering, “what is the difference?”

T3 Trading Group

T3 Trading Group is a limited liability company. In a nutshell, T3 Trading Group represents all of the proprietary traders located throughout the United States. These would be traders that either work out of one of several different retail trading floors, or work at home. The choice of location is up to the individual. Some folks might like trading in a group setting, some might like working from home on a PC.

What exactly is a proprietary trader at T3 Trading Group? Quite simply, a proprietary trader is someone that makes a deposit of funds into a pooled trading account. They are allowed to trade those funds, just like any normal stock brokerage. It really is, as simple as that.

The advantage of trading as a prop trader through T3 Trading Group is additional leverage and reduced trading costs. Let’s take a look at the ‘newbie’ cost structure.

  • Minimum Deposit $2,500
  • Buying power up to 50:1 for day trades
  • Buying power up to 6:1 for overnight trades
  • 50 cents per hundred shares traded
  • 95/5 profit split
  • $100 monthly software cost

Another advantage of being a prop trader at T3 Trading Group is the ability to capture rebates. For instance, suppose you are day trading Apple stock, and executing limit orders. The electronic trading venue known as Edge X is currently paying .24 per 100 shares.

So if you purchase Apple on a limit order at $150 per share. And then quickly sell Apple on a limit order at $150, then Edge X would pay you .24 cents in rebate. So your total trade costs would only be .26 per 100 shares.

With this rebate in mind, now you can understand how large algorithmic trading companies like Virtu Financial (almost) never lose money. Their business model is to capture rebates. They are not in the business of predicting where a market will go, they just want to quickly buy and sell for the rebate.

Can the retail trader replicate something like Virtu Financial? A few years ago. Yes. However, the market has now become crowded and the days of “building a bull dozer to pick up pennies” is over. The best you can hope would be to develop strategies that have a short term edge, preferably systematic, and then work the edge. The following is an example of a workable short term strategy that I personally use. Anyway, let’s get back to T3 Trading Group and T3 Securities.

What is T3 Securities?

In a nutshell, T3 Securities is a stock broker. They are no different than TD Ameritrade, Charles Schwab, or any of the other retail stock brokers. However, the primary function of T3 Securities is to serve the interests of traders contained within T3 Trading Group. The prop traders must push all of their trading volumes through the T3 Securities channel.

Just like any stock brokerage, T3 Securities earns a commission from the trading volume of the traders. So, if you are a prop trader, and your commission rate is .50 cents per 100 shares, then this commission is earned by, and paid to T3 Securities. The stock brokerage is part of their business model.

How successful are the prop traders at T3 Trading Group?

According to Anthony Guarraci, who has been a full-time prop trader for the past 18 years, the failure rate is about 92%. What exactly does that mean? Essentially, about 90% of the people that attempt this journey is going to fail. That is a hard and simple truth. But it’s the truth. You might not like what you are reading, but TradingSchools.Org has never served up bullshit, and we are not going to start anytime soon.

But what about the 10% that actually make it? This is where things get interesting. The 10% that survive, usually make a mountain of money. According to Anthony, a yearly income of $300k to $500k is not uncommon. I have to be careful not to fill your imagination with pie in the sky fantasies. But the truth is that prop trading is like any other industry…only a sliver is going to make a mountain of money.

In my opinion, one of the more inspiring stories of a T3 prop trader is the story of a middle aged guy that spent his entire career being kicked around different blue collar jobs, eventually, his body gave out and he ended up driving a taxi cab.

Much closer to the end of his life, than the beginning, he decided on a radical career change. He decided he wanted to be one of those fancy guys he was always driving around in his cab. Somehow he stumbled into T3 Trading Group. With $2,500 to his name and absolutely no financial sophistication, he willed himself to learn.

It took a while, but he eventually turned his $2,500 into $14,000,000. Yes, you are reading that correctly. For him, the turning point was disassociating himself from his former friends and colleagues. He had to radically change whom he surrounded himself with. The synergy of working with people that actually earn a living at the game of trading made all the difference.

This is the mistake that most people make, they attach their hopes and dreams to a butthole they randomly found on the internet. Expecting to learn from a person with no track record, or no history of ever trading successfully. The end result is predictable.

T3 Trading: you need that pesky license

In order to open an account, and begin your proprietary trading journey with T3 Trading Group…you need a Series 57 Securities Trader license.

Don’t let this scare you. Although it might sound terrifying, it is not. In fact, it’s about as difficult to pass as a real estate license. In fact, the real estate license and the Series 57 license are administered in the same testing facilities.

Will you learn anything ‘ground breaking’ with your Series 57 license? Will you learn how to be a trader with your Series 57 license? Not a chance. It’s just the basics. The SEC understands that unleashing massive leverage into the hands of a newbie day trader can wreak all manner of havoc on financial markets.

If you are going to buy a tank, equipped with rocket launchers and machine guns, then it might be best to take a few lessons on driving a tank, aiming your rocket launchers, and reloading your machine gun.

A lot of folks say, “Ah fuck it, I don’t need any tank lessons. Just hit the gas pedal and pull the trigger.” The equivalent of this would be folks that look for a short cut. And they unwittingly get themselves into ridiculous ‘prop funding’ schemes like Maverick Trading. Which acts like a prop trading company, but is nothing of the sort.

Getting your Series 57

The Series 57 is a lonely license. Since there is basically only one remaining prop trading company in the United States, the Series 57 is basically an entry application to T3 Prop Trading.

According to Anthony, most people complete the examination and test in about 21 days. But some have completed in as little as 10 days.

It just depends on how fast you want to consume the test materials.

Special offer for TradingSchools.Org readers

In the past couple of years, Anthony Guarraci and I have had quite a few telephone conversations. Mostly he calls to either laugh or cry about yet another ‘trading guru’ that we exposed as a fraud. Or a supposed ‘prop trading’ firm that is nothing more than an educational scheme.

Most surprising to Anthony is that most aspiring traders, that want to become professional traders have never heard of T3 Trading Group. They get caught up in all manner of internet ridiculousness, bouncing from funding scheme to funding scheme. But never finding the path of least resistance.

Hopefully, this article will serve as a launchpad. In speaking with Anthony, we came up with a plan to encourage the newbie (both old and young) towards a better path. Specifically, Anthony agreed to offer TradingSchools.Org readers a few added benefits:

  1. To all TradingSchools.Org readers that contact Anthony directly, he has agreed to provide all of the educational materials to pass the Series 57, for free. This is not a ‘token gift’. In fact, the Series 57 Course costs $475 through a 3rd party.
  2. Free membership to the T3Live.com trading room where some of the best traders at T3 trade with their live accounts. This is not a hokey trading room with simulated fraudsters. These are real traders plying their trade. Normally costs $200 per month, but free for TradingSchools.Org readers.
  3. And finally, some good old fashioned hand holding from Anthony Guarraci. He wants you to succeed, and he genuinely wants to help TradingSchools.Org readers.

What in the hell is hand holding? According to Anthony, the best prop traders at T3 Trading Group will average about 50% winning trades, with an average profit factor of 1.8. Anthony wants to help you achieve this performance goal. You might need some hand holding or a good ass kicking. Anthony will deliver either.

How to contact Anthony Guarraci? Anthony loves phone calls. In fact, he requested that I include his direct phone number. This way, he can quickly answer your questions without the burdensome back-n-forth of email exchanges. The only stupid question is the question that you are too afraid to ask.

He can be reached directly at 770-312-5990.

And he can be reached via email at [email protected]

Wrapping Things Up

Thanks for reading. This was a long post. But it’s been a post that I have wanted to write for a long time. Too often, I read emails from people that get suckered by ‘bucket shops’.

In fact, I exposed a bucket shop and the FBI arrested the clown. He is currently in jail awaiting sentencing.

Or educational providers that sell an educational package for $10,000 and then use a form of ‘three-card Monte’ to give you back $5k to trade with leverage. Complete scam.

Or these ridiculously stupid funding schemes from yet another fake prop trading company named TopStepTrader. Where you pay hundreds of dollars each month to trade on a simulator, and if you are lucky enough for Moses to split the Red Sea, then you might get a token funded account.

Enough rambling for today. Thanks for reading. Would love to read your comments below.

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51 Comments on "T3 Trading Group"

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JJM
Guest
I was a trader at T3 Trading. I had some retail trading experience before joining. I paid $2500 for the training and what I got was an access to a online course and a total 90 mins class from my team manager, Derrick Oldensmith. What he taught you was very basic technical analysis you can find in any trading book. Then he taught us a trading strategy called Break Out trade — whenever a stock is close to break an integer level or a significant level, enter at BreakOut and put risk at BO bar low. If you are a… Read more »
JJ Peters
Guest
While I truly respect what Emmett is trying to do overall on the tradingschools.org website, I’ve been reading his reviews long enough to watch him flip-flop a few times on several organizations. TST is one example of him coming out in complete support of a business, only to turn around and sand-blast it later as if it was the largest scam on Earth. Unfortunately, my respect has somewhat wavered for him because of this – it’s okay to change your opinion based on future evidence, but I agree with some of the well written replies which state clearly all of… Read more »
Rob B
Guest
JJ Peters As one of the posters that post some, “items Emmett apparently ‘forgot’ to investigate before writing,” I will give my 2 cents worth. Using Emmett’s own analogy, he is the best in the worst neighborhood. Actually that is a bit harsh, but it flowed well as it was stated in this same thread. At this point in time this is the only day trading blog I post at and their is a reason for that. If I posted a post disagreeing with the author and pointing out the author did not properly investigate lets say on BTM; I… Read more »
Mike M
Guest
Emmett, is doing this on a bubble gum budget and he has exposed more frauds than any site or publication that one can name. So if he gets it wrong at first, but has the decency to correct the mistakes I think that is all we can ask for. Would you rather have these sites continue to lie about 800% ROI with 90% accuracy? This site is responsible for finally exposing the truth about these sites that can’t trade which now stands at 99%. Do you understand that 99 percent of these educators, trading rooms and signal services are outright… Read more »
Eugene
Guest
Also another thing, T3 has tons of hidden fees, that will make you go Broke in short time. Here is just one of the things. If you have an outside account with any other brokerage firm, you are forced to disclose all those accounts…WHY ?? what does that have to do with trading with t3. but they force you to declare And here is another thing, they charge a monthly fee for having outside accounts WTF…then they have tons of other fees. I saw a video on youtube which goes over all T3 hidden fees, I will try and find… Read more »
JJch
Guest

I am looking forward to the link of the vedio. I am very interested.

Eugene
Guest

There was also a leak that showed that in 2015/2016 the trading profits for all of t3 traders combined was $50,000 or so. So that tells us they make ALL their money off commissions and products and not as profitable traders. You can google and you will find the reports online….they are losing traders with NO proof of trading profitability

dtchurn
Guest

Good find Eugene. I also happened across some amazon review about SMB capital which has been absorbed into T3. The guy seemingly having worked at SMB/T3 claims the revenue actually came from fees and not trading profits according to the “Edgar” search reports. His “review” here:
http://www.amazon.com/review/R1LZH8W7XHOUA3
the sec.gov edgar search documents here:
http://www.sec.gov/cgi-bin/browse-edgar?company=t3+trading+group&owner=exclude&action=getcompany

Tom
Guest
Is this a case of the Nicest house in the shittiest of shitty neighborhoods ? Prop trading may be a solution in the short-term to build up that cushion. Seriously, you only need 25-50K for a trading account , and you can day trade stocks. Considering its 50-500K to start an average Franchise, thats not very much to start a business. Lastly, having access to Pros for mentoring … If Im busy trading , making a living, I’m not going to take time out of my day to teach someone I know wont be there in 3 months . Anyway,… Read more »
Amitc
Guest
Hi Emmett, I have always liked your reviews for exposing fake trading room operators. So I am very curious to know what made you give t3 trading 5-star ratings? I am wondering if you overlooked the facts and if somehow someway they were able to trick you. Also this review contradicts your earlier review as t3 has some of the same team members as Pristine trading. in your earlier review you termed the team behind Pristine trading as con artists. https://www.tradingschools.org/reviews/pristine-trading/ There is same team behind t3 as Pristine. ******* Pristine trading : Founder/owner: Greg Capra Counselor: Amber Capra Senior… Read more »
Rob B
Guest
WTF. Is this accurate? I did not realize there was a Pristine connection and now reviewing that Pristine review where Emmett stated this of Greg Carpa Partner Oliver Velez and we are not suppose to believe this guy is legit. This story gets worst by the second. If this is true, I think I will forget about that free trail: ” The site was founded way back in 1996 by Greg Capra and Oliver Velez, both are long time educators and salesman of various trading products. I wont go into too much detail regarding both of these men, however I… Read more »
Cyn
Guest

You say, “Element Trading pooled small traders together into an omnibus trading account which allowed small traders to avoid the $25k day trading rule.”

Sounds like exactly what Emmett describes as what T3 does, no? “What exactly is a proprietary trader at T3 Trading Group? Quite simply, a proprietary trader is someone that makes a deposit of funds into a pooled trading account. They are allowed to trade those funds, just like any normal stock brokerage. It really is, as simple as that.”

dtchurn
Guest

Some info on Capra at “mastertrader” :
http://www.mastertrader.com/about-greg-capra-the-pristine-method-pristine-trading/
So is Capra basically the head boss? including over the Atlanta branch and Anthony Guaracci? It seem you liked the Atlanta office at least Emmett. Maybe there could be a more detailed follow up review over the whole organization. Yes the so called futures prop firm reviews of Maverick and Topstep and the mysterious MES Capital Group, were covered and look forward to more.
Tradingschools had an old prop firms listing and article:
https://www.tradingschools.org/proprietary-trading-firms-2015/
So I guess I”m kind of shocked if T3 has monopolized the entire U.S. prop firm industry.

BigLou
Guest
Never seen a prop firm get 5 out 5 stars review… it all looks warm and fuzzy but a little warning for the bold traders who will rush out into this amazing deal. Depending on your experience you probably will not get 50 to 1 right away more like 10 to 1 or 20 to 1 All deposit dependent. 90% traders fail is more likely contributed to the” in my experience with prop firms” is the insane tight daily max loss which will grind away slowly and daily until the newbie trader joins the ranks of 90% failed attempt besides… Read more »
amit
Guest

In 92% failure rates, leverage has a big role to play IMHO. Higher the leverage higher the chances of account blowing up in couple of hours while trader has frozen stiff not willing to take a loss and playing a waiting game for another 5 min. tick. Better would be well coded system run on automatic while trader is researching/finetuning other strategies or even reading a book or watching a webinar for enhanced trading skills. All this without heavy leverage i.e. going 2:1 at most IMHO.

James Mincell
Guest

This sounds pretty cool, I see the ever vigilant Bulldog Rob ready to pounce on anything that sounds too good to be true.Should I call Antony directly to take advantage of the free membership?

Mike M
Guest
James, Rob is just stating the facts. 2500 to start a trading career is like trying to buy a house with a debit card. I don’t care how much leverage one provides. Now on the other hand, if one comes up with a decent deposit let’s say at the very least 10k and only risks 1-2% of capital on each trade then maybe this place sounds viable. Just remember you must have draw down capital because no on is perfect. Leverage can really bite on the wrong side. Remember 92% fail which means a lot of smart people don’t make… Read more »
Rob B
Guest
Mike, I was not familiar with T3 so I started to search and the more I look the more suspicious I am. Just suspicious that is all, no condemnation. But if you go to: http://www.sec.gov/edgar/searchedgar/companysearch.html and search for T3 Trading and then look at their focus report where revenues and expenses and net income / loss is reported, I am not very impressed. Maybe I am missing something. One year I show a loss of $137,902 and then another year I see a gain of $4,243,855, but from what I have read they have over 300 traders so per trader… Read more »
t3 report.jpg
t3 2014.jpg
Alex
Guest

Emmett is there a futures prop firm out there ?

LaShaundra
Guest

Emmett is there a FOREX prop firm out there?

Cyn
Guest

So this one is stock only?

Rob B
Guest

I assume you are looking for a legit prop firm, not TST. Why do you need a prop firm for Futures? You do not have the 25K requirement and you already get massive leverage with futures.

Rob B
Guest

Part II of my post.

But then I find this:

Creating LinkedIn profile reflecting a competitor. The whole thing is very odd for a legit company don’t you think?

http://www.cboe.com/framed/pdfframed?content=/publish/DisDecision/12-0007.pdf&section=SEC_ABOUT_CBOE&title=CBOE%20-%20CBOE

And I have done the minimum research. I fear what I might find if I were to continue digging. Emmett, maybe you should talk to both the failed and successful traders of this prop firm.

Cyn
Guest

Hm. Sounds like deliberate identity fraud in order to access computer systems. It must be nice to have enough money to not face prosecution for it.

Mike M
Guest

I spoke to some people familiar with the firm. Be very careful, I hear the fees will bleed your account especially if it is small and you are just learning. I can not confirm, just a warning to people interested. I would ask a lot of questions and get everything in writing.

dtchum
Guest

That is a nice find Rob. Trying to get into a competitor’s platform by faking a Linked In profile seems really out there…

dtchurn
Guest

See the evidence here RobB? Pete as “drchump” now, barely tiptoeing here. like when “toto” barely appeared first in the first days of the Brooks review, LOL.

Rob B
Guest

Gee this site will not allow me to post 2 links so I have to break my post into 2 parts:

Hmmmm, The more research I do the more concerned I get. I am sure it is not like Tuco Trading, but there are a lot of similarities. Make sure you read the SEC complaint in detail.

https://www.sec.gov/litigation/litreleases/2008/lr20480.htm

Rob B
Guest

Hmmmm, The more research I do the more concerned I get. I am sure it is not like Tuco Trading, but there are a lot of similarities. Make sure you read the SEC complaint in detail.

https://www.sec.gov/litigation/litreleases/2008/lr20480.htm But then I find this: Creating LinkedIn profile reflecting a competitor. The whole thing is very odd for a legit company don’t you think?

http://www.cboe.com/framed/pdfframed?content=/publish/DisDecision/12-0007.pdf&section=SEC_ABOUT_CBOE&title=CBOE%20-%20CBOE

And I have done the minimum research.

I fear what I might find if I were to continue digging. Emmett, maybe you should talk to both the failed and successful traders of this prop firm.

Rob B
Guest

Hmmmm,

The more research I do the more concerned I get. I am sure it is not like Tuco Trading, but there are a lot of similarities. Make sure you read the SEC complaint in detail.

https://www.sec.gov/litigation/litreleases/2008/lr20480.htm

But then I find this:

Creating LinkedIn profile reflecting a competitor. The whole thing is very odd for a legit company don’t you think?

http://www.cboe.com/framed/pdfframed?content=/publish/DisDecision/12-0007.pdf&section=SEC_ABOUT_CBOE&title=CBOE%20-%20CBOE

And I have done the minimum research. I fear what I might find if I were to continue digging.

Emmett, maybe you should talk to both the failed and successful traders of this prop firm.

Mike M
Guest
From all the arcade prop shops around T3 seems the most reputable. If you don’t have the 25k to avoid the pdt rule then this place seems attractive. If you can truly spend time talking through ideas with the pros then you can’t put a price tag on that. That is the most valuable aspect of this deal. I read somewhere that they will force you to pay for education before you can trade, but I don’t believe Emmett would’ve left that out. 2500 is very little risk capital, but if people are interested in the leverage I would advise… Read more »
Rob B
Guest

Gee my post was very pleasant I thought. At least you do realize, “that sounds too good to be true”. But I am ready to pounce on that live trading room to check it out. I love investing and not just in equities. It is want I do for fun. Instead of playing monopoly I rather be doing the real thing. The day I get a place on Park Place is the day I know I made it. LOL!

Mike M
Guest

Rob, you must report back on your experience. If there is added value by being associated with them and the fees aren’t too high then it could be feasible. What Emmett wrote was so true. Being associated with traders that make money and are willing to share can make huge improvements in your approach.

dtchurn
Guest
On my first readover, it was indeed a funny review. I enjoyed the recap of Topstep and Maverick and how Tradingschools firmly stated its revised assessment of those so-called hamster-wheeled “prop” firms. The story about the phone calls “laugh or cry” about the next exposed “trading guru” sham also had me laughing because it’s just so insanely absurd when realizing the extent of snakeoil trade-ucation pervasive “industry” stink where review after review exposes the shenanigans of yet another clown. One can’t help but be floored in disgust, or be compelled to laugh at the incredible unreal absurdity of it all… Read more »
dtchurn
Guest

Ah ok. I see that the old article on tradingschools about prop firms mentioned SMB capital “Or SMB trading, which suckers in college age kids from campuses”.
as part of the “fourth” type of so called prop firms to avoid.
And it seems SMB has now merged with T3, yet still has their own websites.
http://www.amazon.com/review/R1LZH8W7XHOUA3
Thanks to your advice MikeM, there are some glassdoor testimonials on T3 up to recently:
http://www.glassdoor.com/Reviews/T3-Trading-Group-Reviews-E489104.htm
some negative reviews, but also positive ones.

Rob B
Guest
Ok, I have to post and be a bit of a devil advocate. Yes I know, I am negative and so forth. First from what I have read most (not T3 in particular) prop firms make their money from fees and not profitable traders. And yes I am very suspicious that some profitable trader has turned philanthropist and is going to show and teach someone else to trade. In fact the word suspicious does not even begin express my thoughts on the subject. And I question if you even verified that 8% are profitable or took Anthony’s word on it… Read more »
Riz
Guest

Hi Emmett,

Thanks for the research and information on T3. If I remember it correctly I read the review on Jason from OTG he sends some of his students to Top Step Trader with some good results?
Thanks
Riz

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