Marex Spectron Pro Trader Development Program

This is a discussion on Marex Spectron Pro Trader Development Program within the First Steps forums, part of the Reception category; Don't join this program. You will be responsible for 100% of the losses and only receive 50% of the profit. ...

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Old Aug 12, 2013, 11:10pm   #1
Joined Mar 2013
Marex Spectron Pro Trader Development Program

Don't join this program. You will be responsible for 100% of the losses and only receive 50% of the profit.

I was on the program and was lied to about when I would go live and how much desk fees I would pay.

I resigned recently after four months of working there. I am now taking legal action against the company.

I am happy to answer any questions on the company, just post them below.
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Old Aug 12, 2013, 11:20pm   #2
 
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Joined Feb 2009
Re: Marex Spectron Pro Trader Development Program

What were the initial terms and contract they offered you?

What did they do to teach you?

How many others joined like you?
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Old Aug 12, 2013, 11:54pm   #3
Joined Mar 2013
Re: Marex Spectron Pro Trader Development Program

treadwellism started this thread Initial terms: 50:50 split, no liability for losses, no desk fees for six months. I was offered 100% liability for losses and no guarantee that desk would be subsidised at all.

I had six weeks of excellent tuition when I first joined. Macroeconomics, trading psychology, price action, technical analysis followed by intensive sim training. After that time period it was more like amuse yourself while we draft the contract. That lasted 10 weeks.

Sixteen others are in my position.
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Old Aug 13, 2013, 4:15pm   #4
Joined Mar 2013
Re: Marex Spectron Pro Trader Development Program

treadwellism started this thread This comment is made as an opinion based on primary experience and accurate fact:

Just received a letter from Marex's lawyers that essentially allows me to sue for harassment as well as my other complaints. Bare in mind that I haven't signed any contract:

"Our client considers your decision to cease trading under its graduate scheme to be an anticipatory breach of your contract with MFL, in relation to which it reserves all rights against you."

Not sure that's how contracts work Marex...
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Old Aug 13, 2013, 4:57pm   #5
 
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Joined Apr 2008
Re: Marex Spectron Pro Trader Development Program

I would love to see you winning with your harassment b/s (sarcasm).
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Old Aug 13, 2013, 6:51pm   #6
Joined Oct 2006
Re: Marex Spectron Pro Trader Development Program

Quote:
Originally Posted by treadwellism View Post
This comment is made as an opinion based on primary experience and accurate fact:

Just received a letter from Marex's lawyers that essentially allows me to sue for harassment as well as my other complaints. Bare in mind that I haven't signed any contract:

"Our client considers your decision to cease trading under its graduate scheme to be an anticipatory breach of your contract with MFL, in relation to which it reserves all rights against you."

Not sure that's how contracts work Marex...
Marex's lawyers told you that you could sue Marex for harassment? Don't get me wrong, I think every one of these schemes is a rip off but what you just said makes no sense.
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Old Aug 13, 2013, 7:06pm   #7
Joined Mar 2013
Re: Marex Spectron Pro Trader Development Program

treadwellism started this thread
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Originally Posted by pboyles View Post
Marex's lawyers told you that you could sue Marex for harassment? Don't get me wrong, I think every one of these schemes is a rip off but what you just said makes no sense.
The nature of the letter in itself is a harassment.
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Old Aug 13, 2013, 7:39pm   #8
Joined Oct 2006
Re: Marex Spectron Pro Trader Development Program

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Originally Posted by treadwellism View Post
The nature of the letter in itself is a harassment.
OK I see what you mean, though I doubt you'll get too far with it. An expensive lesson no doubt, the entire industry exists to rip you off, at least you have an appreciation of that now so maybe you'll keep your money safe in future.
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