Anyone else who witnessed that conference cal today must be absolutely appaled by the insanity of Peter Beck, i believe at one point the hamilton BM asked Peter so are we still all disposable? which implies that Peter stated this in the first place to the branch manager who runs the branch and also has the trader who was responsible for millions of dollars in Peters back pocket, anyone who wants to remain with this lunatic after he fliped out today is insane, and Peter basically summed it up at the end by saying "if you don't like it leave" So lemme ask just one question just how many swift trade branches do you think are considering that exact option as we speak?
the usual, that swift has the lowest payout of any prop firm, and their shitty software, and the fact that branches eat the losses 100% off of their net profit everyone has had enough, it was almost 100% managers agaisnt peter, i never saw anyone stick up for him once. oh and also peter trying to convince all his branch managers that people are not leaving for title because of the higher payout but because they are not doing their job.
that is hilarious there are some good people in the organization... too bad Peter likes bending people.
does anyone have a recording of it? I started at Swift and am always interested in the goings' on......
I have left swift years ago based on Beck saying EXACTLY the same thing that is written here. I have moved on now with 50 or so former Swift traders some making crazy money...I pay per trade under a buck and jam shares all day while makeing 60%...there is life after swift.....
They dont record conference calls probably for this exact reason. What a joke I agree there is definately life after swift, on a better payout to boot.
I can not believe his audacity, "deal with it or move on" that piece of shit prosperpro has cost me 60k easy in my time there.
i've been expecting swift to die in Canada for some time, i left a year ago and have done way better on my own. It seemed Swift Canada was hurting real bad 2 years ago and than mnx started the millennium strategy which gave swift some life back, of course swift abused that strategy to no end and i dont believe it is the cash cow it used to be (i stopped trading that strategy when i left.) Swift is aweful in most aspects such as payout and software and beck somehow thought the propaganda he fed everyone would keep them on board. Im surprised it people stayed as long as they did, but i guess that many inconsistent traders weren't willing to put up capital of their own. What really surprised me was when i first saw title opening up soon after i left swift. A trader i traded with at swift opened a title branch and i expected everyone to leave swift instantly to go to title, but to my shock no one at that swift office left right away. It took months before the first one switched. and a couple more have since, but what is wrong with these people? I suppose people fear of leaving their nest is why swift hasnt died in Canada sooner, but it seems like the ball has finally started rolling and i believe that half the Canadian offices will be gone in the next year or so.
Both Swift and Title are in alot of trouble as Hold Brother is stealing all their traders in China with 35% payout plus 10% bonus year end. The commission is the same as Swift, 20 cent per thousand. No trader in their right mind will stick around when Swift and Title are only paying 15%! Title is hurting especially because they are not as established as Swift and don't have nearly as many traders. Basically all the idiots that opened up branches in China will get their arse handed to them