They offer payouts on an incremental scale, 35-50% on each 10 grand a trader makes in a month. After making 120k, 400k and 1 million, the incremental scale goes up 5% (so it becomes 40-55%, then 45-60%, then 50-65%). Traders pay desk fees for exchange data related to whatever exchanges they trade, so those differ. It usually amounts to a couple hundred $ a month. In this case, they want $150 a month to start. Is it standard practice to pay month for the data or if I could find a place that would let me trade for free?
most offices charge the traders for the entitlements once he gets profits... [they charge from the profits]
In the past swifttrade has had a policy of investing in their traders by paying their fees for them for the first several months before you become profitable. When i started this was still the case and I did not pay these fees. I do not know what has changed, but it appears this branch is no longer taking that investment in its traders.
Thanks a lot for your replies! I told them that I don't have enough information/experience to invest in fees and asked that they hire me with the condition that I'll pay the fees with my profits. We'll see if they accept.