Hi. I just had an interview today at Swift Trade Richmond Hill office. I remember someone posted a thread that he was asked to pay $500 just to enter training..well it sounded quiet different to me. The manager told me that I have to pay $200 of desk fee (monthly) + $150 of account activation fee which is paid only on the first month. And also about the training..they provide some theoretical studies for first 3 days and simulation stock market program for another 3~4 days, and then you can get into the real market right away. My friend at Swift in Yonge and St.Clair told me that he didn't get paid until he 'graduated' from training which was making profit of $2000 in a month. But they do not ask you to pay a single penny during training.. and $200 monthly after graduation and make money. So which office do you people think is better??? Richmond hill office is much closer to my place but I am still undecided.. any recommendations?? and I am also trying to apply to Title Trading..but it's TOO HARD to reach them. They don't reply to my emails.. anyone knows the branch in North york?? phone#?? address? Which one is better for a newbie trader(unexperienced) to start with??? thanks!
If they are asking you to pay these fees upfront tell them to take a hike, other than that a trader i have a huge amount of respect for once said, "go wherever the fees are cheapest, it doesnt matter that you get 35%, as 35% of zero is still zero, while you lose money/breakeven your payout does not matter." In my opinion i would go whereever the comission is the lowest, place as many trades as possible, try to learn the craft, if you become profitable leave and find a better deal, realistically swift is a terriffic starting point, as they charge you nothign per trade. Dont expect anyone to teach you no matter where you go, swift is like every other prop shop, they dont have a clue how to trade, (thats why they teach)they operate under the "Throw enough shit against a wall and some sticks mentality, you will not learn anything from them, but you will learn from yourself from trial and error, if you are dedicated.
I know that there is $150 one time account set up fee. They however pay from $1 unlike the St Clair office where you have to make min $2000. And trust me it is not easy to make $2000 especially in your firs few months. If you live in the Richmond Hill neighbourhood, it is a way better deal than driving or TTC to St. Clair office.
I have an interview with these guys in Richmond Hill on Oct. 9. From what I can see this is a good opportunity to start for someone like me who has no education or experience other than the education and experience I have gotten form busting my ass , risking my own money, and learning all that is the stock market over the last 3 years. I am grateful for the opportunity to even enter there doors and if I fail I fully expect to be turfed quickly.. the way it should be.
This is exactly how you look at it. You perhaps have what it takes in terms of education, experience, the right attitude and passion for the market. Take full advantage what they can provide you with: market access, money, free executions. Hope it will work out for you... if not .. well you have nothing to loose but all to gain. All the best to you.
SwiftTrade - Mississauga office didn't charge me any activation fees at all, but that was a year and a half ago, the best office to be in, imho. Title Trading - there is an office in North York (Victoria Park & Eglinton), but if you're not asian, you stand no chance of being hired, and the office is so ghetto, it's actually smaller than my living room. There is another office in Mississauga, Hurontario & Dundas, don't email them, just go there and see for yourself.