Prop firm-anyone heard of them?

[Guidster]

prop firms

Is it really that bad working for prop firms? ive recently been offered a job at one with little difficulty so am abit concerned. Is training generally concerned worthwhile or our new recruits likely to be used then abused?also i cant seem to find any info about the firm and they dont have a website?sud i be concerned.
the salary is reasonable and the commission quite good from what i can make out although only begins at 100k.is it likely a smal firm will allow for new traders to reach such heights.
any advice would be greatly appreciated as i really am new to all this.

thank you

 

[mikeyk]

if its tradelink i've got a mate working there and he highly rates them. we both were at another firm who we wouldn't highly rate and he is very happy compared to them

 

[Guidster]

tradelink worldwide.
cannon street?
thanks

 

[mikeyk]

thats the one. Supposed to be good set up with lots of support and time to develop. on top of this its tradelinks money so you have no risk and they pay you a salary. You can give notice on your contract at any time, the only downside is that you would forfeit that particular years bonus. Anyone who is familiar with prop/arcades will tell you this is a good deal. They aren't that small either i know they have an office in Chicago which is the head quarters and i wouldn't be surprised if there are others jotted about. I know some trainees were sent to Chicago for training but i dont think this happens anymore.

 

[vaxxy]

Hi - has anyone got a URL for this one?

Struggling to find it in Google (probably due to the general nature of the company name).

I don't see it on the list of arcades in Traderpedia either.

 

[mikeyk]

i dont think they have one. keep an eye on londonjobs.co.uk

 

[HCAS]

mikeyk- do they operate as an arcade where you have to pay desk etc... or are you an employee so you just get a salary and any bonus (if make over 100k) . also what do they make new guys trade- outright futures, spreads?
any info much appreciated

 

[mikeyk]

As far as i know you are an employee. You dont pay any desk fee's or money into the clearing account, i remember rightly its a 25k basic, with a profit share very much in there favour after the first 100k profit. Before this threshold you receive no profit share.

They trade futures and i think there's quite an emphasis in t-notes although someone who worked there would need to confirm it. I believe they will let you trade either spreads or outrights, probably whatevers best for everyone concerned. I know that if you can handle it you can trade some large size.