Question about SwiftTrade/joining cautiously

Discussion in 'Prop Firms' started by lorneg, Jul 30, 2009.

  1. lorneg


    Yes I know there are but this one is unique. My branch will be charging 200$ for desk space per month. + the 150$ to start. Is it worth it? Serious question.

    Do other branches do this or are they trying to ... me?

    I'm a new trader, 3 months at home. I NEED a mentor and that's why I'm trying to join up but I'm also a 3rd year accounting student at university and can hardly afford this, first month I'd have to pay up front as well and the rest will come from my income, if I receive any.
  2. When I was there a number of years ago, it was 200 a month. Training was 400.
  3. :confused: :eek: :eek:

    R.S.O. 1990, c.S.5, AS AMENDED

    - AND -


    (sections 127 and 127.1)

    WHEREAS on December 7, 2007, the Commission issued a Notice of Hearing pursuant to section 127 and 127.1 of the Securities Act, R.S.O. 1990 c. S.5 as amended (the “Act”), accompanied by Staff’s Statement of Allegations, in relation to the Respondents, Swift Trade Inc. (“Swift Trade”) and Peter Beck (“Beck”);

    AND WHEREAS the Respondents entered into a Settlement Agreement dated July 21, 2009 (the “Settlement Agreement”) in which they agreed to a settlement of the proceedings commenced by the Notice of Hearing dated December 7, 2007, subject to the approval of the Commission;

    AND UPON reviewing the Settlement Agreement and Staff’s Statement of Allegations, and upon hearing submissions from counsel for Staff and counsel for the Respondents;

    AND WHEREAS the Respondents acknowledge that the facts set out in Part III of the Settlement Agreement constituted conduct contrary to the public interest under the Act;

    AND WHEREAS the Commission is of the opinion that it is in the public interest to make this order;

    IT IS ORDERED THAT: the Settlement Agreement between the Respondents and Staff of the Commission is approved;

    PURSUANT TO paragraph 127(6) of the Act, the Respondent Beck is reprimanded;

    PURSUANT TO paragraph 127(1) of the Act, the terms and conditions imposed by the Decision of the Director of Compliance dated February 5, 2008 on the Respondent Swift Trade’s registration, shall be removed immediately; and

    PURSUANT TO section 127.1 of the Act, the Respondents shall pay costs in the amount of $20,000 to the Commission.

    DATED AT TORONTO this 28th day of July, 2009.
  4. It's more :confused: only, WFT does that mean = nothing.
    I cant drink beer in the street here. Does it mean it is bad? Maybe not, It's legal somewhere else.
  5. to the original poster :

    I'd stay away. there are better firms out there whee u can join and learn for free.
    as u mentioned, u can hardly afford to pay them the 350$ a month. chances are u will get tired of paying them before u see a penny. be patient, look for better deals and good luck.