@robbo I'm paying USD2500/month for desk which includes squawk, reuters, bloomberg. TT/CQG are extra, like USD850
FGBLMSTX, do you not find it tuff paying $2500 a month in desk fee's while you are still learning the game. I definitely would.
I think the advantage of trading at an arcade is that the round trip rates are much better than retail which helps swallow the high desk fees compared to trading from home. I spoke to some friends at London arcades and they pay a start rate around 70-80c which drops off pretty fast if you start doing some volume so you have to weigh it up, I assume you get more leverage to play with too but maybe not if own account. What are the rates out there, bund, stoxx, dax etc?
The thing is when you start out you wont be doing huge volume so you will still end up having to pay a lot of $$$$ in desk fees for at least the first 6-12 months. I think they would have more chance in getting new traders interested if the desk fee's were lower while you were learing the game.
Would it not be easier and cheaper to join a prop firm in the US, but trade in Dubai? I'm sure you can set up CNBC, Bloomberg and all the bells and whistles for 10% of the desk fees.
I agree with sam and robbo. If you new and starting out $2500 is totally insane. There are other ways to go about things. What are your reasons for wanting to go this route? How will it benefit you? Please explain and I will give you some insight.
hi, I'm in Dubai to explore a move here. I have actually been coming to the UAE for the last 10y so know the region pretty well. I trade my prop capital. If you have time for a quick drink before the end of the year let me know. Best
thanks, I have a good idea of the type of structure that needs to be set up and the related issues. Do you trade from Dubai?