OSTC - Trainee futures trader. Views?

[of07923]

Whats your view on OSTC, do thay have a good rep?

Had an offer: The first 6 months are a probation period during which time you will earn £500 a month. Once you have passed the probation you will earn £1000 a month with 50% profit share.

What are people's view on the offer and OSTC as a firm in general, considering the fact that I am new to trading?

 

[of07923]

I would be trading equities, during the training, I assume I'd get some exposure to options, futures and CFDs. then I guess specialise after that?

When I say "had an offer", what I really mean is got an interview and the guy has told me the proposed deal to save time if I couldn't afford it. So unfortunately I don't know what P&L i'll be starting off (what is a usual amount for a complete novice?) and I don't think there are desk fees (although I would assume not)

 

[Grad2008]

Hi,

I have had a similar offer via email, so I expect an interview is upcoming. Could you offer any help on the interview?

Thanks,
Mark

 

[marcusant]

Most of the traders at OSTC trade STIRs (short term interest rates), either as spreads or outrights.
I would guess this is what you will be trading.

They will most likely start you of with a 1 lot until you consistently make money and then increase your clip as you grow your account.

If you havnt already i would recommend reading the 'trading for a firm' article on this site.
It should give you an idea of what sort of deals are around and what you can expect to pay for desk fees and roundturns.

Most of the first year deals available from prop companies are fairly similar
the main difference usaully being the products they trade or style of trading.

Marcus

 

[JackSmack]

I also spoke to OSTC but decided against it as i couldn't afford to fund myself during the probationary period... i think i remember them saying desk fees were about £2k a month?

 

[pelzar]

Has anybody else got any experience of these guys?

 

[traderboi29]

i have.............my CV got rejected........wait for it, "to be financially secure so that i can provide for my family", apparently they said that went against me as they want trainees with no financial pressure..........guess they looking for 17 yr olds then..........anyway, there loss!

 

[pelzar]

If your trading is as bad as your spelling, I can't see why it's...............their...................................................................................................loss!!

 

[gyandrew]

[i have.............my CV got rejected........wait for it, "to be financially secure so that i can provide for my family", apparently they said that went against me as they want trainees with no financial pressure..........guess they looking for 17 yr olds then..........anyway, there loss!]

I am actually 17 years old and am looking for an opportunity that would provide an "apprenticeship"-like trading with a company where I could learn from experienced traders.

I am reading through the forum in order to find something like this, but if you know of anything similar can you please let me know?
Thanks!

Andrew

 

[Richie_A]

i have.............my CV got rejected........wait for it, "to be financially secure so that i can provide for my family", apparently they said that went against me as they want trainees with no financial pressure..........guess they looking for 17 yr olds then..........anyway, there loss!

I would remove that line from your CV. Being financially secure when you start probably won't happen... showing you've got a kid and family depending on your initial income might put you in the position of worrying how you will provide instead of how you will trade.
But... hopefully financial security will be the end result

 

[mensatrader]

I also spoke to OSTC but decided against it as i couldn't afford to fund myself during the probationary period... i think i remember them saying desk fees were about £2k a month?

Are u serious? Omg, that's a lot!!! So basically every month you have to pay the company?

 

[joselopezde]

Are there any OSTC traders around here? It would be nice if he can tell us how this firm is doing these days