new Swifttrade deal update

Discussion in 'Prop Firms' started by M Vega, Jul 2, 2005.

  1. M Vega

    M Vega


    I'll tell you what I know about the new deal Swifttrade is thinking of!
    Indeed you have to put up a $5000,- deposit and you'll get a pay-out of 60%.
    The idea is to start your own small sub-branch... and your old branchmanager gets 10% and Peter Beck 30%.

    For this 60% you have to invest in a router, hardware, office and everything else. And off course you have to train new applicants.

    The idea what should make this deal interesting is that traders you trained in the future can start their own subbranch. Over that subbranch you'll gain 10% and the first branch manager nothing.

    To me this idea sounds pretty stupid. The only advantage you have to starting your own branch is you'll get a percentage of traders starting their own sub-branch.

    I don't know for what countries this deal will be effective, but what I do know there will be hundreds of extra Swifttrades in countries like China... if it becomes reality.

    Peter Beck will have millions of transactions a day extra for $0.20 per trade :D

    Let me know what you think about this idea!
  2. GSCO


    That's like direct marketing. like selling Amway or Primerica home banking services. "sign up your friends!!" This company has been able to change with the market we'll see if this one works.

    "for the low, low price of $5000 you too can own your own stock trading business" sounds like it should be on the back of a matchbook.
  3. This sounds stupid. It would undermine all branch managers out there. You would have a massive exodus from branches. It doesn't make sense to loose entire branches so you can have couple traders in their small offices. Branches can provide the environment needed to develop new traders, plus the tech support. You think swift trade techs want to deal with traders who think that Dell is a version of Windows?

  4. If you have to put 5000$ of your own money I see no reason in hell for Peter Beck to keep his 30% !!!

    Invest it yourself and keep 100% to yourself! The idea of Swift was to play with someone else money! :D

    The guy face no risk dammit! He diversify between 300 traders! Never had a single loosing day at the agregate level! Sits on his ass and the money flows...
  5. M Vega

    M Vega

    That's what I thought!
  6. nbates


    Can you tell me - if you put $5,000 into the account, what do they give you for buying power?

    If they give you $50k, $100k or more in BP then that would be enough to justify some type of "house" percentage or cut of the profit.
  7. I'd rather spend the $300k for a branch. Sounds like great management they have over there, they really know how to make and implement a decision in that super quick time it takes to make a swift trade
  8. Chagi


    Sounds like Swifttrade is a bit late to the multi-level marketing party, I can already see the fancy Powerpoint presentations showing you how "easily" you can get rich just by expanding your downstream branches. How is this for a slogan:

    "At Swifttrade you can make money trading even if you can't make money trading."
  9. Great you give a Cyprus based company 5000 for 60 percent, rather give a Canadian corp OR USA llc my money as I have some recourse via the courts.
  10. I never dealt with swift and am confused with this deal. I and a lot of my friends who trade prop get 99% to 100% payout. We have a lot lower rates than MB or IB offers people so what’s the catch? Do you pay a really low ticket on big offers and flip? That’s what I would guess but I am confused. It seems like there is a lot of swift guys on here.
    #10     Jul 3, 2005