I have a final round interview with Futex coming up this week - I got a very favourable impression of the training scheme from the assessment centre and the first interview and felt like I did pretty well in both of these, so naturally I'm keen to maximise my chances of getting an offer out of this final interview. I was told it would be "more of the same" compared with the first interview, only this time it's with the directors - does anyone who's been through Futex's recruitment process have anything to suggest in terms of what to expect from the final round interview? Thanks!
Rather try this: Futex is the most BORING trading company I have come across.
I was called for a test and interviews with Futex but decided to decline. A more boring, uninspiring, dull company and staff is hard to find. I simply could not imagine to spend four years with Futex and I know I would be a good trader. In fact, after meeting them I couldn't even imagine three months with them.
Those of us called for an interview were never even greeted properly. They had no regard whatsoever of our presence and didn't even care to know our names. No one bothered to show us the facilities, no one bothered to offer us even a glass of water and we had come all the way from London and even further away, no one asked our names or gave a proper introduction about the company or themself so we knew what they did with the company and who they were. There was no explanation of their own background and how they got into trading as is common in presentations at better and more professional trading training facilities, and no demonstration of the trading software they use, or any feedback from successful traders within their company. And it was not just one Futex employee who gave this impression. It was every single one we came across. A couple of staff members walked by to pick up snacks and coffee and were just as dull and lifeless as the management. We asked how they were, how the company was, etc and there was no participation in any feedback at all.
The short presentation Futex gave (less than 10 minutes!) was only about them and the 'investment' they were making in you by paying those they chose to train for free a meager £500 a month! Futex didn't seem to have a single thought in their mind to the enormous sacrifices trainees make for them and not making a proper living for months, even over a year, having to travel all the way to Woking - of all places - on a £500/month budget while striving to make profits for them on their platforms!! There are so many other platforms used by other companies out there and who says the one Futex uses are one of the better? We wouldn't know. No one was interested to even know our names or introduce themselves like normal companies do, or demonstrate their trading platforms.
The statement they made that it takes "up to 18 months" for their new traders to become profitable was a major redflag to me. I know rookie traders, and by far none of them would even be working anymore if it had taken them an average 18 months to make profits! If a company's training takes that long to initiate profits in their rookies - how good is their training and their platform, exactly?
The entire experience was so uninspiring to all of us we had no further questions, and I think few of us had any continued interest in Futex. There are so many trading companies out there, no need to throw yourself under the bus to the first that comes along. And usually they are much more open to deal with, friendly, accommodating, and interested to some degree in the people coming to them. In Futex they all behave like they are 90 years old and live in a retirement community, and are the only ones of value; your contribution is clearly of none. A company like Futex may simply turn negative to your trading experience because there seem to be little that inspire their workers neither in company ethos or future aspirations.
the hare
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I've trained a few and I really cannot believe anyone could realistically do it in any less, or even generate a sufficient sample size of trades to evaluate performance.
I can accept that trading is not so easy. But 18 months of training???? Surely there is something lacking in the training module.
I was actually intending to be trained in a trading firm in Manhattan (New York) but due to various obstacles to get an extended stay I ended up not to. I did speak to some people who had been trained there, and they all had good things to say. The management of the trading company graciously invited me to a demo session and a full day with them. You had seven months on you to get your ass in gear and show talent. And if you would lag behind, they would either see whether you were not suited for trading, or whether some aspects of the training was not being grasped by you fully - and needed to be repeated.
If you were updated on your weaknesses and you still lacked skill - you were on your own. But if you had even a small bit of potential that could be worked on, you had the chance to work in one of the hedge funds next door or the other floors under more advanced mentoring and supervision.
Now that's more inspiring to me than the Futex downthrodden retirement bull****. Sorry, but honestly.
Thank god these utterly boring people at Futex are in Woking. It has saved a lot of people the poor decision of wasting time being trained by a company who cannot make you profitable within 18 months... I just cannot imagine trading for that long before I even see profits! I'm positively profitable in investments after six months of training and certainly don't expect less from trading.
Futex demands that you should be there at 6:30 am. They don't care where you come from as long as you're there at 6:30am. In fact, they don't seem to find any value, at all, in YOUR contribution to the company (that's my impression and from the private messages I've gotten, even employees feel the same). Basically they think they are so far above you that they don't question if they lack proper training abilities, use an inadequate trading platform and whether this delays the profit timeframe for their trainees; instead they demand you must meet up to their demands at all time, no matter how poor their own input, training or ethos are. And mind you, this 'honor' to train you to make money FOR THEM is only worth a £500 a month payment to you.
Honestly, although this is only my personal opinion, I could see the company sucks and that the people working there seemed to rather wish they were somewhere else.
donaldduke
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Very good observation and points. And frankly, I don't think they ARE making much money. And if they don't know how to make money - why waste time learning from them? I too never came across ONE SINGLE happy person at Futex. Miserable bloody place!
You want to learn from people that know how to make profits. Just ignore the rest.
I wouldn't waste one minute on Futex. Honestly. Something is wrong there.
But they all seem so happy in this picture
Well, they all probably seem happy because they ARE somewhere else and not at the Futex office!!!
I myself felt considerably happier when I left that miserable environment.
Futex =
donaldduke
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Well, they all probably seem happy because they ARE somewhere else and not at the Futex office!!!
I myself felt considerably happier when I left that miserable environment.
Futex =
Sadly trading and happiness dont go together.. 2 or 3 time a month you might get a big winning day.. but the rest of the time it is grind
Sadly trading and happiness dont go together.. 2 or 3 time a month you might get a big winning day.. but the rest of the time it is grind
I was at the assesment yesterday. The tests are tough in combination with the time.
The assesment wasn't special but if you aren't native speaker in English, the first test about logical thinking is not that easy. Because you need to read really fast, make decisions really fast with words you never heard before. You need a really fluent English (which means you need to know seldom and special words) to pass this test. So i screwed this test up :cheesy:
It was a nice experience and they told us some non-detailed stuff about the company and how the training and start in the company would be.
I was a little bit disappointed at the end, because i thought that they make a short viewing of the company. Short look in the Traders room, to see the "maybe" working place.
The assesment wasn't special but if you aren't native speaker in English, the first test about logical thinking is not that easy. Because you need to read really fast, make decisions really fast with words you never heard before. You need a really fluent English (which means you need to know seldom and special words) to pass this test. So i screwed this test up :cheesy:
It was a nice experience and they told us some non-detailed stuff about the company and how the training and start in the company would be.
I was a little bit disappointed at the end, because i thought that they make a short viewing of the company. Short look in the Traders room, to see the "maybe" working place.
Hi,
I'm going to Woking for the first interview of Futex next week. I was wondering if you could tell me what to expect from the 1st and 2nd interview if you've been there ?
Thanks mate.
Florent
