$6000 is an insane cost for desk fees, avoid it at all costs as it is hard to make money anyway. You can get 70% or more and $2000 desk fees if you look around, I have a great prop. deal in London (even better) which I will not name as I want to get my friends in the firm first and places are limited. Better deals exist just look around, and a 5year contract plus no compete is crazy, in fact any firm that offers a no compete or any kind of confidentiality agreement should be avoided like the plague as in my opinion it suggests that they have something to hide. Where I work the deal is overly fair and there are no secrets, the contract is non-restrictive and people love the deal because it is so competetive especially with the bro. and %split, they want you to be profitable and that is how and why they succeed whereas many other firms operate mor like brokerages and just want you to generate commissions by over-trading. You can tell if a firm is any good based on how many very good and very experienced traders work there by choice and not force, when you work amongst highly successful guys who have been trading for years and chose to stay because they know they have it good then it gives you great pleasure knowing that you are at the right place. Just hunt around and be picky before settling down as there are so many deals being offered that you don't have to panic to get your foot in the door anymore.
I think you already said enough Showtime23 to express you opinion, LOL. By the way $8,000 desk fees are incredible if that is true, what would they offer you for that kind of money, a company Ferrari!!!!
If those numbers are true about the new contract they are offering then ... wow ... that has got to be the worst deal on the street, I guess GH's new business model is to make money off desk fees
I just wonder how long it will be until this thread is deleted. I mean if you watch a movie that you didn't like then you are free to criticize without fear of reprisals. It is absurd that posts are removed because people criticize facts. If a contract is too long and very restictive then why can that not be said publicly. And if desk costs are anymore than $3000 per month at any firm then that is day-light robbery and what is wrong with saying so. If false statements are posted then I would respect a rebuttal to set the record staight, but to have entire threads removed is pure censorship and very domineering behaviour. One firm on Trade2Win actually posted their owns views to counter prior allegations and that is great that they want to prove their intentions are genuine, but censorship is just controlling and oppressive. I mean the whole point of this forum is that we can anonymously compare the deals being offered at various firms, if we can't do that freely then why even bother posting.
kamdooo you still haven't answered why GHCO and what you are looking for in a prop. firm? I laugh because you ask for advice and give us no information about what you are looking for so that we might be able to help you. Plus it seems that you are being selfish in trying to pick the brains of people on this board in a way that other readers will not be able to benefit from. What GHCO location are you going for as I know many GHCO traders in London and didn't think that they were recruiting given current market conditions and recent issues. In London and Chicago there are so many altrenatives that people may also be able to give you some viable alternatives in case you don't get the job. The more info. you supply the more people can help, and the more helpful this thread will be to other trader wannabies. Or is it that you are hoping to eliminate the competition by not giving up too much information you sly fox!! If you are in London the www.efinancialcareers.com is a must for you as they have jobs everyday it seems. The site also has NY and Chicago jobs too. Geneva Trading I hear good things about in Chicago too. I had heard several rumours that GHCO were moving away from salaried trading roles, but again I have no solid information that this is true. It could be just a rumour. either way update us on how you do at the interview itself. Good luck, with the job search.
unless things have changed I think the rumor about GH moving away from salary is true at least according to the GM in Chicago