London Stone Trading

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Subs91

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Does anyone have experience with this prop firm?
I'm interested in signing up but want to hear reviews from anyone that has dealt with them.
They say you can pay the in installments and give you the choice to pay some with profits.
Really I would want to trade their company funds but after hearing so many bad stories about over prop firms im wary that they could just take my fees, deny me live trading and kick me off. However the are FSA regulated so that help abit I guess.
 
Subs91 said:
Does anyone have experience with this prop firm?
I'm interested in signing up but want to hear reviews from anyone that has dealt with them.
They say you can pay the in installments and give you the choice to pay some with profits.
Really I would want to trade their company funds but after hearing so many bad stories about over prop firms im wary that they could just take my fees, deny me live trading and kick me off. However the are FSA regulated so that help abit I guess.
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I believe someone was asking about them the other day. If I recall correctly they seemed to be operating out of services offices which isn't a good sign.

By the way at least 5 or 6 of these type of companies have disappeared lately. Some of them only lasted months. How much are these guys asking for?
 
Ok the serviced offices could mean they could do a runner but their company 'london stone securities' seems legit. The price is about 3K but they let you pay like £900 approx installments. They apparently let you pay one installment and let you pay the rest through trading profits.

From their website said:
London Stone Trading Ltd excels at delivering training and support for proprietary trading. We are the only credible and proven proprietary trading company offering training and excellent future careers in the UK.

No other proprietary trading company is part of an FSA regulated UK based, Wealth Management and stockbroking company.

The market knowledge and trading abilities of our in house mentors are proven in their daily trading of substantial retail client and corporate funds throughout the London Stone group.
Proprietary trading with London Stone Trading Ltd is both professional and substantial.

Every single month we increase the size of your company funded account. It is only by trading large capital that you will make the maximum profits from proprietary trading.

Do not be sold to by self proclaimed gurus and companies promoting huge returns in order to justify trading to undercapitalised traders. Not all prop trading companies are the same.


We are so confident in our ability to train and mentor you to success, as soon as you go live we even allow you to pay the rest of your training fee from your trading profits.


As soon as your training fee is paid you can take an income. Proprietary trading with London Stone Trading Ltd means you can pay yourself monthly, weekly, daily... or, had a good day in the markets? You can withdraw your profits straight away.


You will learn how to become a proprietary trader from professional and successful London city traders, initially becoming a proprietary trader at home through the Internet at a time that suits you. When you are successful, you will trade a company funded account and will never be liable for any losses. Regardless of your current situation, you can learn and continue proprietary trading for as long as you like, wherever you like.

When you can competently trade you can move onto trading different markets. We teach our new proprietary traders to trade using price action, once you know how, you are able to trade anything. There are absolutely no time commitments from you during the trading day, there are never any profit targets. As long as you follow the London Stone proprietary trading stop losses you can trade whenever you like, wherever you like. Our UK based mentors, analysis and coaching is available through our bespoke Remote Trading Floor technology from 0700-2100 every working day to help you.

Based in the heart of the 'square mile' London Stone proprietary trading utilises the best of proprietary trading technologies and amenities through our Remote Trading Floor. As soon as you prove your ability to trade we may ask you to come into London to trade from our trading floor, you probably won't believe us right now, but, as soon as you learn that you can trade from anywhere in the world from a laptop, you won't want to come to work in London!
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From the London Stone Securities Site said:
Welcome to London Stone Securities

We are an independent stock broking company based in the financial heart of the City of London, commonly known as the "Square Mile". We are registered with Companies House in England and Wales (registration number 6464964) and we are also authorised and regulated by the Financial Services Authority 479827.

As an independent firm we are able to offer you a bespoke, personal service tailored to your individual needs. Whether you are an experienced trader or a complete novice, our team of advisory brokers will help you to achieve all of your investment objectives through timely and well researched trading ideas.

In particular we focus on opportunities which can offer strong capital appreciation over the short, medium and long term. Best of all, our ideas come completely free of charge and with absolutely no commitment to trade. In fact you can hear as many ideas as you like at no cost.

You'll be happy to hear that registration is also free, so if you have an interest in the UK stock market and want to hear more with no obligaton, then please call us now on etc
We will always be happy to help.
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Any more thoughts?
 
Subs91 said:
Ok the serviced offices could mean they could do a runner but their company 'london stone securities' seems legit. The price is about 3K but they let you pay like £900 approx installments. They apparently let you pay one installment and let you pay the rest through trading profits.





Any more thoughts?
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Main point is what profits? The assumption is that you can immediately be profitable and therefore the 'course' will pay for itself. That is not going to happen. There is a thread on T2W about a company called Futex, they take on 20 or 30 guys every couple of weeks, they don't charge a fee. I think the number who get kept on after training us 1 or 2 out of each intake and most of them leave within the first year as they can't make enough money. I'd guess if you were lucky these guys might have a one in ten success rate yet they are making it look like it's just a question of taking the course and making money. Sorry but it's not going to happen.
 
The argument about whether you can make money from this is another thing. I just wanted to know about them from other posters whether they are dodgy etc. Nothing is guranteed in life but you have to work hard at it. If I do well then (Hopefully) I would get to trade company funds or if I crash and burn then I would have spent £900 with forex training and trading for my CV for when I leave Uni. Its remote trading so you would'nt have to pay desk fees i would imagine.
There is no reason why you cant be profitable if you are disclipined and absorb everything you learn and apply it. These futex guys are not london stone so not sure about them. You have to have the right attitude to suceed in forex trading.
 
Subs91 said:
The argument about whether you can make money from this is another thing. I just wanted to know about them from other posters whether they are dodgy etc. Nothing is guranteed in life but you have to work hard at it. If I do well then (Hopefully) I would get to trade company funds or if I crash and burn then I would have spent £900 with forex training and trading for my CV for when I leave Uni. Its remote trading so you would'nt have to pay desk fees i would imagine.
There is no reason why you cant be profitable if you are disclipined and absorb everything you learn and apply it. These futex guys are not london stone so not sure about them. You have to have the right attitude to suceed in forex trading.
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For a start the cost is £3000, do you think they are going to let you off with the extra £2100 just because you can't make money? You are lining yourself up for a very expensive lesson in how the real world works. By all means give them your money and see how you get on trying to trade and study at the same time whilst trying to pay off the training fee and cover desk costs. At least at the end of it all you will have learnt to properly research and assess 'opportunities' like this.
 
To be honest Subs91, i would use the £3000 to purchase some books and set up a micro account and learn from your mistakes
 
I would'nt be trading in house but remotely so the fees are the only thing I need to worry about. I think the only reason why most people fail in these prop firms is that they see trading as a get rich quick scheme and then they see that it isnt the profession for them. Im doing a financial/economics degree at Uni so there is alot of transferrable skills that would help me learn quick. You are going with the premise that because most people fail then most likely I will fail and burn out. Thats not my plan. The main point for me is the ability to trade their company funds while being in a disciplined environment. If anyone can give me their experiences with this particular company instead of general disadvantages of paying for training in a prop shop then by all means please do. Oh and the fee is £3.5 K over 4 months my mistake.
@mattboffey I could do that but you wouldnt be able to make substantial returns on that capital plus self learning is a very difficult unless you are very disciplined and structured. I agree though its less risky that what im interested in undertaking.
 
pboyles said:
You certainly will learn a very useful lesson, one you won't get at university. Unfortunately it will be a rather expensive lesson though.
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pboyles, give it a break, when i asked you about which firm you think is worth trainee trader money, you had no answer, but you have all the answers when new companies come into the market.

Yes some of the companies like Lgi and london stone are new, but that dont mean the traders are also new, many of them have years of experience, and some companies such as London stone even give you a 7 day money back guarantee just incase you think they are talking ****, you get your money back.

I do agree, these forums do not help, pboyles your a legend ar criticising.

I also have joined 1 of the companies mentioned, and there training is very good. I will honestly say, people need to phone around and do their own research.

Also, there is no need to undermine a university education, because the smart student can make a intelligent guess from reading company background, after all University does give students good practice with their research skills.

Regards
Luckyboi
 
Did someone manage to see their offices?... I tried but they skillfully avoided me doing it...
 
I been down to see them, went to both their floors. Have 1 with about 8 guys in that are prop traders and mentors and the director and another down the road with about 18 guys in that are the retail traders and mentors. Think their wealth management arm is bigger and all on one floor somewhere else. Pretty good setup actually, dont know why they avoided you, I was there with a couple more visitors too, good fun, seem open and honest, maybe caught them on bad day.

Happy to discuss what I thought if you cant get down to see them or are overseas. Drop me a pm.
 
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Sounds to me you are working for them. How would you know I am overseas? lol
Bad day? Yeah rather a bad week then.....
 
lol I was suggesting that other people who were perhaps overseas and couldnt go see them might like to know what their setup was like and be interested in hearing. With that attitude and cynicism towards someone trying to be helpful maybe they just thought you were a d**k and dont want you lol.
 
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i've just been accepted as a live trader after being under the wing of a mentor since August.

Not that you need any more convincing I am sure that these guys are legit. If you want to follow my progress as a prop trader with them I will be documenting it on my blog Trading Trends

..

So far I signed up to be a prop trader, didn't see the point in doing the fx success course as I ultimately wanted to trade their funds not mine. They show you the ropes, let you practice until you're comfortable that they know what they are talking about and then ultimately they help you trade in a way that suits your personality and with good money management.

Having gone the route of opening an account with other cfd, sb and stock brokers , reading books and trawling through the internet for vids, ebooks etc. I have decided that my money would have been best placed with a firm like LST 2 years ago and that I could have saved myself 10k already.

It's really easy to place a long or short trade. The hardest thing is managing your expectations and not losing your money. I have no degree in finance and every other route I have taken me has not given me an insight and access to how to trade like a professional until signing up with these guys.

But as always , you should do your own research and find out for yourself if they are what you need to trade more successfully.

If you have any questions by all means contact me, my email address is iamnev at gmail dot com .
 
pboyles said:
I believe someone was asking about them the other day. If I recall correctly they seemed to be operating out of services offices which isn't a good sign.

By the way at least 5 or 6 of these type of companies have disappeared lately. Some of them only lasted months. How much are these guys asking for?
Click to expand...

Once again PBOYLES you have a lot to say with out very little evidence, you warn people to try these trading prop courses, but let me tell you, the people who have joined london stone trading are very happy with the service. also just to prove to everyone you talk rubbish, please click on the link below

Going Above and Beyond the Call of Duty

DEAN is the managing director of london stone trading, and what did you say about the services?, give it a break now mr so called expert!!!!
 
There is plenty of evidence that many of these companies have not only gone out of business but in some cases also disappeared with clients money so I don't see what your point is.
 
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