Desk costs are starting to weigh a bit too heavily at the moment. Last year was admittedly below par on the trading front. I'm now questioning whether working from home is a better option or even going down the spread betting route.
Spot on, based in London. All prop fees are pretty much the same, so there are few options. Plus, I don't really want to become a journey man going from company to company for the sake of saving a few quid.
£3200 which is pretty standard. You can get a cheaper package but doesn't provide me with what I need. There are some much more expensive ones.
Are you saying 3200 pounds as in about $4500 or so? This must be some sort of different model than anything in U.S. Maybe a seat lease on an Exchange, but a "desk fee?" A bit shocking, I must be missing something. Don
Hi Don, sorry I probably didn't explain it properly. Desk I £1000 and kit brings it up to £3200. After 15 years of prop I have just started considering other options. A few friends I know spread bet in addition to their prop trading, which is free through the net reasonably fast and tax free. Just signed up to a few demo's to test. Lot's of smoke and mirrors to attract new clients but I'll see how I get on. I know what I'm looking for in my head anyway.
The commissions are really expensive across the pond as well - every European client I take on eventually moves his futures account over to a Chicago FCM. Agree on the desk fee - very pricey. And you know the arcade/prop firm is taking a haircut with transaction fees also. Wow. Office space and ECN infrastructure over in London must be very pricey - or the local traders have a very high pain threshold.