the Canadian branches all have to follow the same contract to avoid certain branches trying to "steal" good traders from other branches by offering them a better payout/BP/ect...... but all the international branches (any branch outside of canada) can do what ever they want. I know that the Chinese branches were considering using one contract for the whole country like Canada does but i cant say for certain if that went through......but if it didnt then the owner of the branch in China will decide if he wants the $2000 graduation point or not. Bottom line...outside of canada...the owner of the branch can pay whatever % payout he/she wants and can have what ever graduation point they want
The thing is that international branches lose exclusivity for their country if after 2 years they arent on the top 50% of all swift branches. So we're gonna see multiple branches poppin up belonging to different owners in the next few years.
Actually - I have much better things to do with my time than to sit on here and wait for replys from you. Then again - you can't answer my questions. I've asked for proof that you seemimgly cannot provide to this forum. As for what branch I'm at - I'm not at any branch - I'm at head office. If you'd like to drop by and meet me - by all means; you know where it is. 9th Floor. Ask for Randy. Being here since day one - I know exactly what goes on around here - exactly; and to more extent than any trader, ex-trader or even the branch managers. Which is why it's rather funny (just momentarily though) to sit here and read through your lies and dribble and wonder why it is you whine so much. Anyway - take me up on my offer if you like. I'll be here.
Can a person join swifttrade part time while they keep their real job? Or do you guys suggest I keep far from them. I do need a real life education and not just from books.
None of what you say has anything to do with SWIFT. It's all about the trader. Daytrading firms get paid to give you access to the markets. Only diff between them and any other business is that they let you pay for thier service with other ppl's money (as you go) - ie, P/L. That's a pretty good deal. You cannot blame the firm for your inability to pull enough out of the market to cover everything. If you are complaining over 1 or 2k that you think you were owed in a given month, then you really need to step back and ask yourself what the opportunity costs of being there are - if you are splitting hairs over a couple hundred or thousand dollars that you think you are owed, there are much better jobs out there to be had that require far less committment than trading. Again, your entire post is basically spelling out the WELL KNOWN pitfalls of daytrading: In the best case, your risk is your time, the trading firm's risk is the capital, which they have every right to try and make back through commission (as long as they are honest about it). The markets are tough and the failure rate is high. That's it. I know what I'm talking about - I'm a failed daytrader myself. Difference is that I view everything in life as an opportunity. I learned a ton about the prop firm model. I went back to work on Wall Street and in five years, I'm going to open a firm myself. Stop wasting your energy complaining and trying to convince ppl that your blowout was a function of the firm being dishonest. Nobody here believes you.
I have my interview friday for swifttrade, with contradictory views of how things work these days, can anyone give me any hints on what exactly I should ask? I do know a bit about the stock market and futures etc as I've been around it a lot just I've never done it. Do you think this knowledge will help me to do better in the company. Is the 3 month training period for everyone or does it depend on how well you do?
3 months i would say is best case scenario. its normally 4-6 to graduate, and at least 6 to make enough to live off of. You dont need to know anything, you will learn it all while you are there, whether its form the intro provided by the BM, or your expected hours and hours of research. Other than that there are basically no questions to ask, as long as you understand the deal and how the whole company operates.