Can anyone tell me EXACTLY what the payout structure is at the Swifttrade CORPORATE office (Toronto)? I thought it was a payscale of 35%-50% for new traders, 40%-55% once you've made over $120k, 45%-60% once you've made over $400k, and then negotiable once you've gotten over $1 million. Is this not correct? I'm not interested in whatever scam is going on at franchises in China, I want to know what the main Swifttrade office does. Thanks
Just asked that same question in an email to them the other day: We put up all of the capital that the traders use to trade, and take a cut of the profits. The profits are split as follows: Swift Trade takes 17% and the office gets 83%. Now, from this 83%, the office pays the traders. Traders start at 35% commission, and are capped at 60% after a certain level. Traderâs graduation times vary, depending on their trading style, market, etc. It usually takes 3-9 months to graduate.