TCA Markets - remote trading programme: Worth it?

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of07923

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Title says it all really...

In the perhaps likely chance that I don't manage to get through the interview stages at Jane Street or Tibra, I may have to consider the option of going at it on a prop desk from the beginning of my career.

TCA offer a remote course, i.e. a 4 month 'training' programme (based from home) with the benefit of a mentor, and the prospect of continuing as a permanent prop trader after the 4 months assuming you have proved profitable in the live trading period.

The scheme costs £4k, which is supposed to cover trading costs (seems reasonable to me) and all funds are proprietary (you take home 50% of profits)

My issue is that given my complete lack of experience in actual trading (i have done 18 months in corporate finance), would it be reasonable to assume that the average person in my shoes could earn the £4k per month i would need to earn from which to live (i.e. a £24k salary), in the first year, since I don't really have the funds to survive for a year?

Thanks in advance for any help on this one
 
would it be reasonable to assume that the average person in my shoes could earn the £4k per month
Click to expand...

No it wouldn't, it would be more likely that you would lose money in my view.


Paul
 
Trader333 said:
No it wouldn't, it would be more likely that you would lose money in my view.


Paul
Click to expand...

Seconded by the golfer! Motion carried!! Next!
Please see my post on the other tca thread, What is your opinion etc, apologies but i'm a luddite, have no idea how to link them.
hope this helps.:innocent:
 
check out some alternatives - the trouble with tca is they kinda make vague promises, but according to the threads i have read here, people seem to end up losing quite a lot of money ( in fact the £4000 they quote seems to be just the start of potential cost)
There are some alternatives - please try Futex and Marex - they are much larger firms with good track records.
 
of07923 said:
Title says it all really...

In the perhaps likely chance that I don't manage to get through the interview stages at Jane Street or Tibra, I may have to consider the option of going at it on a prop desk from the beginning of my career.

TCA offer a remote course, i.e. a 4 month 'training' programme (based from home) with the benefit of a mentor, and the prospect of continuing as a permanent prop trader after the 4 months assuming you have proved profitable in the live trading period.

The scheme costs £4k, which is supposed to cover trading costs (seems reasonable to me) and all funds are proprietary (you take home 50% of profits)

My issue is that given my complete lack of experience in actual trading (i have done 18 months in corporate finance), would it be reasonable to assume that the average person in my shoes could earn the £4k per month i would need to earn from which to live (i.e. a £24k salary), in the first year, since I don't really have the funds to survive for a year?

Thanks in advance for any help on this one
Click to expand...


Have you looked at futex, they have a remote training scheme, its taken from there inhouse scheme which has trained traders for years must have loads of tips!
 
The company trading as TCA MARKETS has entered into Formal Insolvency Proceedings.

Premier Asset Ltd, formerly TCA FUTURES LTD, currently trading as TCA MARKETS is under administration with liquidators CMB Partners LLP.

Contact Mr Rimes of CMB Partners LLP, 25 Ely Place, London if you are an unsecured creditor.

Search company number: 03228573 at the Companies House website for information.


You have been warned!


If you would like a copy of the Statement of Administration under the Insolvency Act I will happily email you it [email protected]

Cheers,
Dave
 
Finance Watchdog said:
The company trading as TCA MARKETS has entered into Formal Insolvency Proceedings.

Premier Asset Ltd, formerly TCA FUTURES LTD, currently trading as TCA MARKETS is under administration with liquidators CMB Partners LLP.

Contact Mr Rimes of CMB Partners LLP, 25 Ely Place, London if you are an unsecured creditor.

Search company number: 03228573 at the Companies House website for information.


You have been warned!


If you would like a copy of the Statement of Administration under the Insolvency Act I will happily email you it [email protected]

Cheers,
Dave
Click to expand...

Thanks for your post,Dave.

Eduardo.:)
 
tca bankruptcy

how come they are still trading and willing to/want to take my 4k--i read on another site that they had no live trading in dec and jan--
 
Good question, email me at [email protected] and I will be happy to provide you with all the High Court documentation regarding the insolvency of TCA Futures / TCA Markets / Zen Derivatives / Premier Asset. Hold on to your money.
 
Last edited:
Finance Watchdog said:
The company trading as TCA MARKETS has entered into Formal Insolvency Proceedings.

Premier Asset Ltd, formerly TCA FUTURES LTD, currently trading as TCA MARKETS is under administration with liquidators CMB Partners LLP.

Contact Mr Rimes of CMB Partners LLP, 25 Ely Place, London if you are an unsecured creditor.

Search company number: 03228573 at the Companies House website for information.


You have been warned!


If you would like a copy of the Statement of Administration under the Insolvency Act I will happily email you it [email protected]

Cheers,
Dave
Click to expand...


does that mean that they are not allowed to trader? cos they are still holding open evenings for next week!!cheeky devils!
 
there is no mention of TCA markets under that company number, just TCA futures and previous businesses. Where does it actually say that TCA MARKETS is insolvent?
 
TCA Markets is not Premier Asset Ltd (formerly TCA Futures Ltd).

The company that is in administration is the company that was used for loans. TCA management took the view in December 2008 that lending money was not the groups primary business and the collection process was becoming tremendously time consuming. They decided to pass this company to a third party to collect the outstanding funds owed to it.

The remote team has over 120 active traders currently trading company accounts, and yes, there are recruitment meetings at the office... business as usual.
 
Last edited:
Arbitrageur said:
TCA Markets is not Premier Asset Ltd (formerly TCA Futures Ltd).

The company that is in administration is the company that was used for loans. TCA management took the view in December 2008 that lending money was not the groups primary business and the collection process was becoming tremendously time consuming. They decided to pass this company to a third party to collect the outstanding funds owed to it.

The remote team has over 120 active traders currently trading company accounts, and yes, there are recruitment meetings at the office... business as usual.
Click to expand...

If people bothered to actually read what it says on the companies house website they'd know that it wasnt TCA Markets.
 
Arbitrageur, thanks for clearing that all up. I'm so glad to finally hear from the horses mouth that there is nothing crooked about TCA Furutes/ Markets. It now all seems so very honest and up front that I'm finding it hard not to phone you right now and lob £5000 over to you.
 
jamesbund said:
Arbitrageur, thanks for clearing that all up. I'm so glad to finally hear from the horses mouth that there is nothing crooked about TCA Furutes/ Markets. It now all seems so very honest and up front that I'm finding it hard not to phone you right now and lob £5000 over to you.
Click to expand...




Arbitrageurs nickname at TCA is, 'polyfiller'. I'll let you work that one out.
 
Arbitrageur said:
TCA Markets is not Premier Asset Ltd (formerly TCA Futures Ltd).

The company that is in administration is the company that was used for loans. TCA management took the view in December 2008 that lending money was not the groups primary business and the collection process was becoming tremendously time consuming. They decided to pass this company to a third party to collect the outstanding funds owed to it.

The remote team has over 120 active traders currently trading company accounts, and yes, there are recruitment meetings at the office... business as usual.
Click to expand...


Arbi,

how do you explain that link then? also i read on a post somewhere on this forum that martin duncanson? of TCA said that TCA Markets was changed from TCA futures to reflect the markets that they trade in........just curious as there is alot of bad press about them and alot of hear-say, rather just know the facts

TB29
 
jamesbund said:
Arbitrageur, thanks for clearing that all up. I'm so glad to finally hear from the horses mouth that there is nothing crooked about TCA Furutes/ Markets. It now all seems so very honest and up front that I'm finding it hard not to phone you right now and lob £5000 over to you.
Click to expand...

Very useful, support from a newbie, first post. doh.
 
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