Prop trading in the Philippines

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psixtrader

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I may be moving to the Philippines as my wife has been tasked to head and set up a Call Center operation for her current employer. I begun prop trading early this year after I was declared redundant and laid off early last year.I want to continue pursuing a full time trading career unfortunately my current prop firm does not do remote trading.

I would like to see if there are any prop firms operating in Manila.
 
psixtrader said:
I may be moving to the Philippines as my wife has been tasked to head and set up a Call Center operation for her current employer. I begun prop trading early this year after I was declared redundant and laid off early last year.I want to continue pursuing a full time trading career unfortunately my current prop firm does not do remote trading.

I would like to see if there are any prop firms operating in Manila.
Click to expand...

As well as Phils, you may be wise to check out firms in Singapore.
 
Internet is a bit crappy in PI but there's probably another consideration that might make it better to do this from home - it's safer.

Trading US hours would see you working nights in Manila. If that means going to an office in the evenings an leaving in the early AM, I would be extremely careful about the location of the office. This is not Kansas, Toto. PI in general is a very dangerous place and Manila is no exception.

Kidnappings are on the rise there now. In particular, be very careful about cars picking you up at hotels. You may have a regular driver and one day you go down to see another guy in his place, he'll give you the name of the regular driver, tell you the guy is sick and he's a replacement. If this happens, don't get in the car...

I'd personally avoid working nights in an office in Manilla. Stay safe.
 
In addition to the previous post you may or may not be aware that the infrastructure is not that good in the Philippines compared to western nations.

Even the electrical supply can be subject to frequent cuts in some locations, so
always make sure from where ever you are trading that there is backup (or even ideally backup to the backup).
 
Hi, psixtrader. It's not all that bad here in our country. You could do worse in other supposedly civilized places (say NYC or London, lol).

If you're trading equities, you might try and contact the Canada-based prop firms Swift or Title to ask where their local offices are located. I know for a fact these two were operating here, but that was a few years back so it might be a good idea to check with Canada to be sure.
 
tita said:
Hi, psixtrader. It's not all that bad here in our country. You could do worse in other supposedly civilized places (say NYC or London, lol).

If you're trading equities, you might try and contact the Canada-based prop firms Swift or Title to ask where their local offices are located. I know for a fact these two were operating here, but that was a few years back so it might be a good idea to check with Canada to be sure.
Click to expand...

Yes, I did check them out and only Title is still around,but I understand that they operate only for themselves and really don't open trading to others.It is a private group.

I also want to comment on some of the negative stuff dished out here. The internet is not bad at all. True it has it's limitations specially with the "home based users" ,but as the Philippines is now the global center for the Business Outsource Industry the business grade services are at par with the best in the world. As to safety, yes this is an issue ,but most of the great problems are really in the far fetched hinterlands. Being mugged or robbed is not an exclusive occurrence in the Philippines it happens in many of the great cities. A recent case was a friend of mine was walking the streets in Paris with wife and kids and a "gang" of hooligans swept over them sped away with their belongings into the tunnels of the Paris subways. Police were useless and essentailly told them to be careful next time????
 
tita said:
Hi, psixtrader. It's not all that bad here in our country. You could do worse in other supposedly civilized places (say NYC or London, lol).

If you're trading equities, you might try and contact the Canada-based prop firms Swift or Title to ask where their local offices are located. I know for a fact these two were operating here, but that was a few years back so it might be a good idea to check with Canada to be sure.
Click to expand...

I am surprised that prop trading is not a popular career path in the Philippines. I guess there have not been risk takers willing to set up prop firms. I am aware that talent is not a problem since I know that many Singapore based institutions have a lot of Filipinos trading in their trading floors.

Well, if only we get a group together and set up our own prop desk that would be fine.
 
psixtrader said:
I am surprised that prop trading is not a popular career path in the Philippines. I guess there have not been risk takers willing to set up prop firms. I am aware that talent is not a problem since I know that many Singapore based institutions have a lot of Filipinos trading in their trading floors.

Well, if only we get a group together and set up our own prop desk that would be fine.
Click to expand...

People with money in Asia are in Hong Kong or Singapore generally speaking and then Phuket for retirement. The only risk they take in the Philippines is a weekend away there.

If you do set up a prop-shop in Manila make sure it's in an office that has
- armed guards guarding the car park
- armed guards at the entrance to the building
- armed guards at each floor just outside the elevators

This certainly was the norm in Makati last time was there. Also of note, armed guards outside McDonalds, armed guards at the top of footbridges, SERIOUSLY armed guards outside the banks.

On the bright side, most drinking establishments have the facilities to take both your jacket AND your gun at the cloak room. Mostly because drunken cops shooting people that spill their drink is bad for business.

If you do start a prop shop, you'll have the local people to come work in it but you wont be getting many expats flocking there as there are much better places to be in Asia. The red tape there to set up a company is mind boggling.

Your best bet, try to get a connection good enough for a data feed for 1 instrument & do it from the safety of your compound there. I don't want to seem to be overly negative but it is a dangerous, dirty sh1t hole and the locals are going to drive your missus crazy. Unless of course, she has prior experience herding cats... :whistling :whistling :whistling

On the bright side, I've spent lots of time there & I had a blast.
 
DionysusToast said:
People with money in Asia are in Hong Kong or Singapore generally speaking and then Phuket for retirement. The only risk they take in the Philippines is a weekend away there.

If you do set up a prop-shop in Manila make sure it's in an office that has
- armed guards guarding the car park
- armed guards at the entrance to the building
- armed guards at each floor just outside the elevators

This certainly was the norm in Makati last time was there. Also of note, armed guards outside McDonalds, armed guards at the top of footbridges, SERIOUSLY armed guards outside the banks.

On the bright side, most drinking establishments have the facilities to take both your jacket AND your gun at the cloak room. Mostly because drunken cops shooting people that spill their drink is bad for business.

If you do start a prop shop, you'll have the local people to come work in it but you wont be getting many expats flocking there as there are much better places to be in Asia. The red tape there to set up a company is mind boggling.

Your best bet, try to get a connection good enough for a data feed for 1 instrument & do it from the safety of your compound there. I don't want to seem to be overly negative but it is a dangerous, dirty sh1t hole and the locals are going to drive your missus crazy. Unless of course, she has prior experience herding cats... :whistling :whistling :whistling

On the bright side, I've spent lots of time there & I had a blast.
Click to expand...

I understand your concerns and I guess you do have your points,but it is nice to know that you had a blast after all(y)(y)
 
DionysusToast said:
People with money in Asia are in Hong Kong or Singapore generally speaking and then Phuket for retirement. The only risk they take in the Philippines is a weekend away there.

If you do set up a prop-shop in Manila make sure it's in an office that has
- armed guards guarding the car park
- armed guards at the entrance to the building
- armed guards at each floor just outside the elevators

This certainly was the norm in Makati last time was there. Also of note, armed guards outside McDonalds, armed guards at the top of footbridges, SERIOUSLY armed guards outside the banks.

On the bright side, most drinking establishments have the facilities to take both your jacket AND your gun at the cloak room. Mostly because drunken cops shooting people that spill their drink is bad for business.

If you do start a prop shop, you'll have the local people to come work in it but you wont be getting many expats flocking there as there are much better places to be in Asia. The red tape there to set up a company is mind boggling.

Your best bet, try to get a connection good enough for a data feed for 1 instrument & do it from the safety of your compound there. I don't want to seem to be overly negative but it is a dangerous, dirty sh1t hole and the locals are going to drive your missus crazy. Unless of course, she has prior experience herding cats... :whistling :whistling :whistling

On the bright side, I've spent lots of time there & I had a blast.
Click to expand...

:LOL:bit strong saying it's a dirty dangerous sh1thole, in some areas this is the case, I have been many times. I enjoy sipping my skinny latte in starbucks with an armed guard. in terms of running a business there forget it. go to where Dtoast says.
 
I do not know which trading platforms you may be using, but check out TAKION. It is the fastest and most advanced U.S. equities trading software of its kind.
Costa
 
Last edited by a moderator:
psixtrader said:
I may be moving to the Philippines as my wife has been tasked to head and set up a Call Center operation for her current employer. I begun prop trading early this year after I was declared redundant and laid off early last year.I want to continue pursuing a full time trading career unfortunately my current prop firm does not do remote trading.

I would like to see if there are any prop firms operating in Manila.
Click to expand...

Hi,
I can offer couple solutions to you whether you trade remotely or build a desk out there for us. We currently do not have a desk in your country. We have offices in China, Hong Kong, and through out USA. We have presence in UK, Germany, Portugal, and Russia. PM me to discuss further(to anyone who is interested). Thanks.
 
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