-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 NYhRiKfoQTmDARiwQubJ9zLij86dfcowocQoU1xTi5uvrvO2VWKfNgI9kTMouMgy
 ovDFkF62OeP5DqHn39rN5A==

<SEC-DOCUMENT>0000083125-05-000029.txt : 20050801
<SEC-HEADER>0000083125-05-000029.hdr.sgml : 20050801
<ACCEPTANCE-DATETIME>20050801150133
ACCESSION NUMBER:		0000083125-05-000029
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20050728
FILED AS OF DATE:		20050801
DATE AS OF CHANGE:		20050801

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FIRST MONTAUK FINANCIAL CORP
		CENTRAL INDEX KEY:			0000083125
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		IRS NUMBER:				221737915
		STATE OF INCORPORATION:			NJ
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		328 NEWMAN SPRINGS RD
		STREET 2:		PKWY 109 OFFICE CTR
		CITY:			RED BANK
		STATE:			NJ
		ZIP:			07701
		BUSINESS PHONE:		7328424700

	MAIL ADDRESS:	
		STREET 1:		328 NEWMAN SPRINGS RD
		STREET 2:		PKWY 109 OFFICE CTR
		CITY:			RED BANK
		STATE:			NJ
		ZIP:			07701

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MCC PRESIDENTIAL INC
		DATE OF NAME CHANGE:	19871203

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	RENAULT WINERY INC
		DATE OF NAME CHANGE:	19740725

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PRESIDENTIAL APARTMENTS INC
		DATE OF NAME CHANGE:	19740327

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			RABINOWITZ ROBERT I
		CENTRAL INDEX KEY:			0001241550

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-06729
		FILM NUMBER:		05987932

	BUSINESS ADDRESS:	
		STREET 1:		C/O FIRST MONTAUCK FINANCIAL CORP
		STREET 2:		328 NEWMAN SPRINGS ROAD
		CITY:			RED BANK
		STATE:			NJ
		ZIP:			07701
		BUSINESS PHONE:		7328424700
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4rabaug2005_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2005-07-28</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000083125</issuerCik>
        <issuerName>FIRST MONTAUK FINANCIAL CORP</issuerName>
        <issuerTradingSymbol>FMFK</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001241550</rptOwnerCik>
            <rptOwnerName>RABINOWITZ ROBERT I</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>PARKWAY 109 OFFICE CENTER</rptOwnerStreet1>
            <rptOwnerStreet2>328 NEWMAN SPRINGS ROAD</rptOwnerStreet2>
            <rptOwnerCity>RED BANK</rptOwnerCity>
            <rptOwnerState>NJ</rptOwnerState>
            <rptOwnerZipCode>07701</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>General Counsel, Vice Presiden</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Incentive Stock Options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>1.25</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2005-07-28</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>150000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>1.25</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2005-07-28</value>
            </exerciseDate>
            <expirationDate>
                <value>2010-07-27</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>150000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>293750</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <ownerSignature>
        <signatureName>ROBERT I. RABINOWITZ, GENERAL COUNSEL, V.P.</signatureName>
        <signatureDate>2005-08-01</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----