iggy2london
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Hey which one did you pick (if you have picked yet)? I have interviews with both coming up (final round MET and 1st round Futex) and am interested to know which, if any, you went with and how you're finding it?
iggy2london
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No. Maybe take a look at the websites?
Club
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http://www.futex.co.uk/Trading Floor Training.pdf
last page - you are right though...its only 7k... not 10k...how silly of me!
last page - you are right though...its only 7k... not 10k...how silly of me!
iggy2london
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.... OK before this becomes one of those unnecessarily bitchy forum chats let me explain it nice and slow for you and anyone since you clearly didn't properly check the website. I think this is a common misconception Two ways into futex 1) Graduate Opportunities | Futex This is FREE (you get paid 2.5k rather than paying 7k) and is what I was referring to all along. I'm sure OP was considering he/she said they got offers from both companies. Offer implies a selection criteria and I don't believe there is a selection criteria for option number 2) Fee Structure | Futex for which you pay the full amount for training.
Like I said - lets not get bitchy - these are the facts (I understand why you may have thought otherwise since this free training scheme is relatively new and not many shops do it yet)
OP if you get a chance to reply would be great
Club
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ok kiddo, no need for the "nice and slow" sarcasm
The only common misconception for this sort of company is the fact that the hopefuls either a) fail the x-factor process of trading tests and end up paying...or b) pay straight away in the first place. Not saying that paying for the training and career is a bad thing, its just a different way of selling the training. A way that most people find rather unethical.
Its like a person who sells training on how to grow your own apples, when the punter fails to grow any of their own, the person selling just says "Its ok! Just buy mine!"
I think I remember reading somewhere that there is lots of posts somewhere about FUTEX "Graduate Opportunities" where 1 or 0 out of 10 / 20 / 30 get backed.
If the OP gets in fully back then awesome, well done to him. Much like the behemoth of Schnieder, they are just very hard to get into! Hence people ending up paying for the training
The only common misconception for this sort of company is the fact that the hopefuls either a) fail the x-factor process of trading tests and end up paying...or b) pay straight away in the first place. Not saying that paying for the training and career is a bad thing, its just a different way of selling the training. A way that most people find rather unethical.
Its like a person who sells training on how to grow your own apples, when the punter fails to grow any of their own, the person selling just says "Its ok! Just buy mine!"
I think I remember reading somewhere that there is lots of posts somewhere about FUTEX "Graduate Opportunities" where 1 or 0 out of 10 / 20 / 30 get backed.
If the OP gets in fully back then awesome, well done to him. Much like the behemoth of Schnieder, they are just very hard to get into! Hence people ending up paying for the training
iggy2london
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Fair. And you are clearly much older and know much more than me about this stuff than me to be honest (I assume you trade your own account/research this stuff aside from the day job?) so like you say was no need for 'nice and slow'.
I guess its all up to the individual but 0/1 outta 10/20/30 certainly isn't what i'm hearing although again I think we're talking about different things. From the academy where you simply pay the fee and train yes they will only take outstanding performers but the retention rates i'm getting from the sponsored graduate trainee scheme is more like a 60% training completion and 20% going live and profitable. obviously though historical conversion rates are both volatile and pretty meaningless with respect to any one individual trainee's chances but 0/1 outta 10/20/30 makes it seem like there is no chance!
I guess its all up to the individual but 0/1 outta 10/20/30 certainly isn't what i'm hearing although again I think we're talking about different things. From the academy where you simply pay the fee and train yes they will only take outstanding performers but the retention rates i'm getting from the sponsored graduate trainee scheme is more like a 60% training completion and 20% going live and profitable. obviously though historical conversion rates are both volatile and pretty meaningless with respect to any one individual trainee's chances but 0/1 outta 10/20/30 makes it seem like there is no chance!
iggy2london
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just read this comment again and the first two lines aren't supposed to come across so sarcastic! Genuinely acknowledge than you have more experience here
I have decided to accept MET Traders for various reasons including the people I met, the training structure, the trading strategy, and for me location.
I am due to start in the new year so can't give you any more insight yet.
Let me know how you get along and your views on both?
iggy2london
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Yeah me too I think it makes a lot of sense if you believe you can do it. Haters will be haters but if you make it past the 1st 12 months you get the last laugh every time!
iggy2london
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Interesting, out of interest how long did each firm take to get back to you after final interview? Is it an instant call or you had to wait for the rest of the candidates to be screened for that period?
By end of this month I should know which (if any) firms have given me the offer
Why interesting? Did you prefer Futex? Found out I had the offer after around a week or so.
Good luck mate - let me know once you hear back from them
iggy2london
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I think it's a tough call,, and you probably can't really make a bad decision as such as they both seem like great programs just wondering how much you hassled each one for more details about the programs before making the decision? i don't want to make it arbitrary is all (again, if i should get the choice)
Too be honest, I didn't hassle them once I got the offer, as I had made up my mind re preference before I got the offers. For me, the impression I got was Futex is more on the outright trading side, while MET is more focused on longevity. Also, MET is much easier for me to commute to, considering the early starts involved.
Princesswin89
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Hey, I have been invited to attempt the numerical test, could you give me an insight as to what kind of questions it consists of? And if you can remember - any examples would be a massive help! Have just finished a maths degree but somehow it makes me even more worried about context etc. Thanks a lot!
rawrschach
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same questions that you get on IB websites - you can practice them on the source website
cept it'll be on paper
cept it'll be on paper
