Hello Everyone, I would like to move to London and be a professional trader at a trading arcade. Can you please tell about your experiences about these companies? How can a newbie join? Thank you for the help.
Here's the list you need, most have a training program where they'll then back you http://www.trade2win.com/traderpedia/Trading_Arcade_Index
Thank you, it is great list!! I heard some arcades accept new peoples where the new trader trade on simulator for 6 months and then he goes for life. Do you know, any of the these companies who currently accept new people?
You can get free desk space from either the IPE or Nymex Europe if you want to trade energy products on the screen. Guess you have to know what you are doing though. Contact the exchanges for more info.
I would like to join to a firm which provide training and then can trade with there capital for profit share. I know GHF did this. Do you know any other companies who use this working form? Thanks.
Try Marex or Saxons they tend to recruit on a steady basis, you will be given theory training for a month or so and then put on the simulator until you're consistent. Due to the huge number of applications for these courses they can be quite picky on who they take. Otherwise stump up the cash to back yourself. Ideally you should be in a situation where you can handle a year without earning money although they pay about £700 a month whilst training. After that you're on your own, failure rate tends to be about 20-40%. Good luck. (The desk charge will be about £1800 a month which you have to cover out of your trading as well as your trading fees then you'll initially look at 50-60% take on anything over that. If your account hits a specified downside including these costs you're out but they swallow the loss)
Is here anybody who trader for Marex or Saxons or currently working there? Can you tell something about the life there?
I was trading at Marex/Refco till christmas. Nice office with good facilities, excellent IT and a great back office team. Marex are probably one of the best arcades in London, but as dogfish said, they can hence afford to be choosy who they train and back.
related question, do marex, saxon, schneider, or any other prop firms in europe sponsor work visas for US applicants?