Just had inteview at RBC located at 11 Broadway, NY Traders do not have to contribute any capital and are not responsible for their loss, but it seems that they do not offer any base salary to their traders. In other words, it's 100% commission rate. Do any of you know about this firm? Is this a good place to build a career in trading? Please let me know!
Do they still have that alpha deal where no cap and you have 60/40 split but you got to pay $15/1000 shares. I am intersted in this group, not any sub groups but the main group the royal bank backs. I think you can learn a lot.
I don't think you mean 100% comms rate since you are a trader not a broker. I think you mean 100% performance based since I believe that they don't even pay you 100% payout of the profits. In any case, you should be more concerned if they have a training program. I know a couple traders there and they are not getting training. You have nothing to lose to start out there except your time. You will also need the S7.
It's 50/50 .01/share. Even if there were a salary, it would just be a draw against future profits. If you are not profitable you will be gone in 3 months.