Trading Or Broking

[BOOTH25]

Can you please tell what is the best for long term prospects working towards a derivative trading role at Refco or a brokers position at interdealer brokers like Icap. I have been told that you can make big money in both fields although trading is better long term as there are only a few interdealer brokers left and they will be phased out within the next few years.

Which has the better earning and job satisfaction?

 

[BBB]

...eeerr Refco are brokers not traders, although they do own a prop shop called MacFutures. Brokers are essentially salesman (not knocking that) or order fillers Traders are eeerm - traders!

As for earnings - it all depends on how good you are - in both cases. Same with job satisfaction.

 

[anley]

Broker instead of trader for most people. I was both but made far more money in brokerage although once you do it for 5+ years it's (for most people) a pretty ****ty job. Trading gives you far more freedom and you're not tied to the clock so much. Perhaps the best thing to do is to get a job broking that also allows you to trade at the same time.

 

[spreadboy]

Trading

Can you please tell what is the best for long term prospects working towards a derivative trading role at Refco or a brokers position at interdealer brokers like Icap. I have been told that you can make big money in both fields although trading is better long term as there are only a few interdealer brokers left and they will be phased out within the next few years.

Which has the better earning and job satisfaction?

There is no doubt that trading as a professional in the futures market ie. working for a bank or arcade provies potentially higher rewards and excellent job satisfaction.

Broking with an IDB can also be lucrative however you are always just the broker, what if you move jobs or look to relocate.

Both will require hard work however to make it as a successful trader you really need bounds of persistence, discipline, tenacity and balls together with the RIGHT opportunity, of which there are few if you are the RIGHT candidate.

Do your research, visit both kind of businesses and see what you think, I have done that and there is no contest in my mind. Seriously ask yourself what you want out of life...Each to his own...

 

[bernie]

I would say the good brokerage jobs for newbies are non existent now
The brokers that are earning the decent money have spent years bulding up their clients and the opportunities to break into those markets are again non existent.
There is a hell of a lot of brokers whose salaries have been halved in the last 4 years.
This reason is all due to the introduction of electronic platforms.
If you are looking for a trading career you should consider applying to one of the investment banks or one of the major banks in the market.
This is totally different from trading in an arcade and will also for most be a lot more lucrative.
However the competition for places will also be a lot harder as well and qualifications will play a big part.

 

[BOOTH25]

Decision,

I have been offered roles at either Refco or Tullet libertys can you help me decide which is the better company for now and the long term.

 

[afin2804]

Decision,

I have been offered roles at either Refco or Tullet libertys can you help me decide which is the better company for now and the long term.

From what i can gather go with Tullet Libertys! Refco seem a bit dodgy.