Are there any Trading Arcades out there that pay a base Salary?

[Wisey]

I have interviewed for trainee trader roles at several trading arcades (Candlestick Trading, FCT & Zen Futures), only Zen offered a starting salary which was pretty low.

Does anyone know of any other agencies that take on junior traders and pay a salary?

Thanks for the advice.........

 

[Sharky]

Not sure about which take on junior traders and pay a salary, but you could do worse than work through the list of arcades in the Traderpedia here: http://www.trade2win.com/traderpedia/Trading_Arcade_Index

Thanks to Arbitrageur for creating this list in the Traderpedia.

 

[techst]

Saxon Financials do pay a base salary but it'll only cover your train and bus fare plus some sandwiches, i think it £500 a month. How much do Zen offer?

 

[Wisey]

Saxon Financials do pay a base salary but it'll only cover your train and bus fare plus some sandwiches, i think it £500 a month. How much do Zen offer?

Thks, 18k. Downside is they're in Kingston and require a 4 yr contract. Do you know if this sort of commitment is common and also is it legal to tie you in for this long?

 

[Directional]

Its only legal if you sign the contract. But to be fair, 18k is a pretty amazing basic from an arcade for a graduate - which is probably why their contract term is so long - because they will almost certainly be losing money on training you, funding you and your losses while you master their method. I'd expect they wouldn't even break even on the deal for at least the first two years if not longer with a basic like that.

 

[adams01]

Zen used to offer £18000 a year. This may have changed recently.

 

[nohare]

Thks, 18k. Downside is they're in Kingston and require a 4 yr contract. Do you know if this sort of commitment is common and also is it legal to tie you in for this long?

To be honest wisey 18k is a good starter. A 4 year contract is too long to sign for unless they pay profit related bonuses. Most houses tie their trainees in to 2-3 year contracts and expect to make over £200k in that time from succesful candidates before they allow them to trade on their own accounts. We ( Turtle Futures ) start our trainees on £12k rising to £18k after a year. When there account hits 40k profit we take 50% and they are then their own account traders with 20k of their own money.
Traders tend to stay with us because they know we have looked after them ( not taken the **** out of them ) , and we can offer them the cheapest clearing in the markets after their training program finishes.
Our philosophy has always been to be fair and honest ( :cheesy: ) while keeping the monthly charges to a minimum which in turn makes it cheaper for the traders , giving them more oppurtunity and more time to go through the learning curve!

 

[adams01]

I worked at one of these...and have many friends at different prop trading houses. I advice you to stay clear of candlestick from what I hear.

Here is a quick list -

Zen Futures
Mac Futures (Now Refco)
Met Futures
CTC
Kite
Chieron (Now under a different name-best starting salary)

There are others cropping up but I would say Zen Futures and Chieron offer best salary, Refco give you £500/month for 6 months.

I have interviewed for trainee trader roles at several trading arcades (Candlestick Trading, FCT & Zen Futures), only Zen offered a starting salary which was pretty low.

Does anyone know of any other agencies that take on junior traders and pay a salary?

Thanks for the advice.........

 

[mikeyk]

I belive that the following also pay a starting salary

GHCO
Tradelink

Think there both about 20-25k, but with longh contracts. Heard some bad things about ghco. But to be hoenst if i were you and either of them offered me an oppurtunity then i'd jump at the chance. However there is one exception CTC

 

[charliechan]

stay away from candlestick and kyte.

try

www.refcotradingservices.com

www.stalimited.com (.co.uk??)

saxon may also be ok.

 

[millionaire]

I have interviewed for trainee trader roles at several trading arcades (Candlestick Trading, FCT & Zen Futures), only Zen offered a starting salary which was pretty low.

Does anyone know of any other agencies that take on junior traders and pay a salary?

Thanks for the advice.........

Try Saxon Financials

 

[HCAS]

adams01, whats is cheirons new name now?

 

[adams01]

adams01, whats is cheirons new name now?

They are now known as Avalon Futures. They pay £25k basic then probably split 50/50 or 60/40. They also don't restrict you on what you trade, apparently backed by Icap.

 

[HCAS]

do you have a web adr?
cant seem to find them via google

 

[adams01]

do you have a web adr?
cant seem to find them via google

Apparently it is being developed and will be up and running in the next couple of weeks.

 

[nicko]

Interesting what you have heard as I have heard that they have closed down the whole of their futures trading operation

 

[bundbaby]

Futex in Woking and Futex in Weybridge have a pretty fair deal. around £500 per month while they train you. Then you keep atleast 50% of what you make