ETG - anyone have any experience with them

Discussion in 'Prop Firms' started by 2xWorldChampion, Aug 7, 2002.

  1. I'm new at daytrading. They liked my cover letter. So I'm starting the application today.

    They require a 2 year contract. Is that weird? Is that normal?

    The info on their website is outdated because trainees don't get a salary or any kind of draw anymore.

    They do absorb your losses but you don't make any money until they are paid back.

    If anyone has experience with these guys, I would really really appreciate your input.

    They will train and sponsor me for needed licenses, and I will then be coached while trading 300 shares of specific stocks. After I get a few up days in a row, I may get 1000 shares, and so on and so on.

    I'm really excited since I sent out my resume to all the proprietary firms, and this is the only one that answered back saying they will reserve me a spot even though I have to relocate.

    One other, Wolverine, said I could be an intern and get paid 1200 a month for 3-4 months, but no job would be guaranteed at the end of it. I think Wolverine traders get paid a big salary plus bonuses based on performance.

    Kindly educate me on your experiences with either of these 2 firms and which offer YOU would take.

    My education is that I have a GED.
    My work experience is with all aspects of computer software and hardware from programming to networking.

    riddles aside, Is this the breakthrough of a lifetime for someone like me, or am I being duped?

    I've read everything on this site about pro firms, but I need specifics about these companies.

    thanks everyone, and thanks for elite trader forum.
  2. Turlo


    beware of contracts in this business.
  3. I looked into ETG, and they are the only firm I have been able to find that is really offering people true employment with no personal financial risk.
  4. Turlo


    Take a look at these other firms:


    andover and worldco require little to no contribution

    Bright and Eco 20k.

    Hold brothers 10k

    good luck
  5. dotslash, what do you mean employee status?

    I just got off the phone with a San Francisco recruiter, and he said no salary.

    How can you be an employee without a salary or draw.
  6. I dont know about other firms but i know heartland offers a salary of about 600 a week for a couple of months with a raise to 800 performance depending. there is No capital required and i am not sure if they are hiring. good luck.
  7. thanks nwb, I sent them my resume, but havent got a response yet. They were actually my first pick if I could pick. :)
  8. Turlo


    2 years ago ETG gave a small salary until you get on your feet. They no longer offer that. I believe your status will be as a member not an employee....
  9. What are you 2x world champion at?
  10. axehawk


    You're joking about the fact that you only have a GED and got hired by ETG ...right???

    Anyway, do a search in the upper right hand corner for "ETG" and you should get some answers.

    Good luck.
    #10     Aug 7, 2002