Bright Trade vs Orbixa

I think they're Swift Trade

 

don
orbixa i understand is the former swift in canada

 

Hmm, interesting. My old friend, Charles Kim (co-owner of Swift) and I chatted several times about our different trading models. He actually came down to Vegas to attend our training program so he could "learn about trading" several years ago.

I'll chat with him before making any comments, don't want to spread any false rumors.

Thanks for the heads up,

Don

 

Don.

snippets of a interesting article on swift trade. at one point they had about 5200 traders worldwide according to a press release

The biggest prop firm in the world. Different model that works

http://www.nytimes.com/2010/12/10/business/global/10daytrade.html

Peter Beck, a founder of Swift Trade, a Canadian firm with about 1,500 traders in China, said his operation was thriving and that the firm got a share of the trading profits.

“Our clients — they open an office, give us the money and then hire people to trade for them. That’s our structure,” he said in a telephone interview.

Swift Trade is considered one of the pioneers in the outsourcing of day trading. It grew initially by offering brokerage services in Canada and then by hiring Canadians to trade the firm’s capital from its Toronto headquarters. The company offered modest salaries to traders along with profit-sharing deals.

By some industry estimates, as many as 10,000 people in China are doing speculative day trading of American stocks — mostly aggressive young men working the wee hours here, from 9:30 p.m. to 4 a.m., often trading tens of thousands of shares a day.

 

Thanks, and yes, I have read "many" articles about the firm. Some good, some not...that's why I try to clear any "news" with Charles before proceeding in any discussions of them.

Thanks again,

Don

 

no problem
orbixa is the old swift . I guess they have some eyes on them these days

amazing how many traders their are in china. just keeps growing

 

I was with Orbixa last Februrary. Basically, you are working for a private company that uses Orbixa's technology.

I worked for GrayCal in Ottawa who use Orbixa's technology. Nothing against the guys running this place. It just wasn't right for me.

Yes, this is an offshoot/rename of Swifttrade.

Our starting daily stop was $50. We also had a monthly stop. The requirement to graduate was $2000 earned on $10,000 of capital. Our share was 30% and we were responsible for all transaction costs.

 

Wow, 30% after comms. What a rape.

 

Sorry, I should be more clear.

(monthly profit - fees ) * 30%.

 

Yeah, got it, that's what I meant.