Anyone familiar with a firm called Madison Deane?Here is a link to their website...http://madisondeane.com/
I worked for them for about two weeks. Its basically cold calling all day. Its a numbers game. Once you get some clients you are allowed to trade 25% of their captial. If you can call do nothing but make cold calls for about 2 to 6 months, then you could be pulling in low six figures in about a year. Visit their office, the callers are exactly like boiler room, even more impressive on the phone. Legit business though.
Was the office that you worked in at 2 World Financial Center in NY?Is that the only office?How did the commission structure work?Thanks for any help.
yes, it was the 2 WFC. Depending on which group you join, the first 5 accounts you open go to the senior brokers and I think everything after that is yours. Again, depends on which team you join. Don't really remember the commission structure, but I think you need around a million dollars in you account to be pulling in around 120K a year. Again, not a 100 percent positive.
Is the office a dump? And what do you mean by 1 million in your account?Aren't they opening accounts for clients?Is the client trading the account themselves or is it managed professionally?
Beautiful office with great views on the 36th floor.As far as pay goes...commission only and you can start out immediately opening accounts for yourself. You get 1-2% every month,sometimes higher depending upon how often the traders trade,of the dollar value of the assets you have under management. Brokers are there to open accounts only,while the traders trade the accounts.All 20 traders come from top banks and brokers around the world.They only trade currencies in the spot market.They target 1-6% a month return for the client.So once you have $1 million under management,you can expect to make about $10,000-20,000 a month.Or if you're a piker and you're happy making $2,000-4,000 a month,you just need $200,000 under management.Sounds like it could be promising.