Questions on Swift Trade ...

Discussion in 'Professional Trading' started by Maitreya, Feb 10, 2008.

  1. Maitreya


    Hi. Not to take away from Kitty's thread, but I've got some questions about Swift Trade (I've got an interview there this week, and I've no trading experience whatsoever). From what I've read on forums here and elsewhere, this is what I've gathered on Swift Trade:

    - It's an entry level organization that can teach you quickly how to daytrade.

    - It's subject to individual branch policies, so you have to ask before you head into it what their standards are (they may differ depending on where you work).

    - Because of it's entry level status, traders make smaller commissions on profitable trades, but they are also trading in a low risk environment with no personal capital needed.

    - Your earnings are subject to the amount of effort and staying power you possess, which is to say if you can't handle the first few months, you likely won't go any further than that. But then, that's the same as any job.

    - Can benefit the new trader IMMENSELY if they stay focused, treat it like a discipline and dedicate daytrade hours to it.

    - It will happily acknowledge that you can make more money elsewhere as a trader ... meaning that they won't encourage you to leave ... but they know that some people may choose to after a time.


    1. Can you work out of home? I've got a happily employed wife, three daughters and presently live an hour and a half away from the branch office, so you see my dilemma.

    2. How are the hours handled? Is it clock in, work, clock out .. or is it get as much done during the daytrade hours as you can, but your income is strictly commission.

    3. Are there any hidden startup costs? General courses that every trader needs are obviously not lumped in here, but does Swift Trade have any sort of registration fee or lease arrangement you have to pony up to?

    4. Is it fun?

    5. What sort of income can I expect? I know that it's commission based (to an extent) but what do I need to do to earn 50k/100k/500k a year (or is that even possible)?

    **Please, keep from flaming this thread, but be honest with a touch of class.**
  2. jj90


    It may vary to branch manager discretion branch to branch, but I highly doubt it.

    1)99.99999999999999999999999999999% sure no.

    2)If your new (<2 months), sticking to market hours is a good thing. With that said, it doesn't really matter. You can work 1 hour a day if you choose. Your payout is X% of your net.

    3)Desk fee (quotes), nothing else.

    4)Wherelse do you get to cowboy with OPM so easily, even if at 1st it's not much.

    5)You make what you make. If you can trade and figure out a way to do it, you'll make money. If not, you'll quit and find a salaried job after not making a cent for a few months.