what does FUTEX do ?

Well you do keep changing the question, but I would say about 99.9% get to go live.
I would say around 75% are still trading after a year.
Answers are already in this thread, and we give details where we can.

What difference would it make to the average successful applicant if the answer was 90% profitable and 90% still there after 2 years against 10% profitable and 10% still there after 2 years?

You cant make any kind of sensible and reasonable assessment of ones potential to be successful based on the answer to that complex question.

The success rate at most of these companies is horrendously low. I'm not talking about how many are successful in getting on the course I'm talking about how many can make money, enough to pay their way and make the equivalent of a decent salary. At most places its less than 10% though people joining are seldom told that.

Hi PB

I understood the question and agree that the numbers will be low. However I am sure Futex use their own filters in candidate selection and in other areas that increases the percentage odds of success.

Overall though the actual percentages are irrelevant and would in any event be a poor indicator of any particular individuals likely chance of success.

I think it would be more important to understand how Futex nurture and support traders through the inevitable periods where losses accrue, doubt and fear creep in and consistency drops.

Just my thoughts

Hi Futex, check your PM's please

I used to work at futex for about 3/4 months in 05. I was in the woking office. My view was that they were straight up, honest guys. However at the time very few people in the office were making much money after costs, and in my view 80-90% of them would be better off just getting a regular job, even a minimum wage regular job, particularly when one considers the volatility and risk involved in trading.

However I did pick up useful skills and went on to make a few quid. So I can't feel too bad about the whole experience.

Of the c10-15 people who came in with me I recon about 5/6 left within the first few months then the rest drifted away gradually after that. (Some of this was second hand stuff)...

Fact is if you are of an analytical bent and you analyse it all it isn't a rational business to get into. The guy I knew who did well just threw himself into it and wouldnt consider failiure / probabilities. He also had enough money not to care about not earning for several years.

My view would be to make a success of it you should prepare for 2-3 years of no/minimal income and just hunker down...

As to the £xk desk fees - I have traded from my bedroom with IB / spreadbetters and with Futex, I made more in my bedroom.... Unless you are a real fast, large numbers of lots scalper you can do just as well in your bedroom, even if you are I am not sure that the leased lines et al make that much of a difference given the cost. I trade weekly or monthly not daily so for me it really isnt worthwhile.

In the end I was glad I did it, but equally glad I moved on quick.

Hope this helps anyone wondering what to do and is fair to all concerned.

rjmahan,

thanks

hi

i saw that you take on a number of trainees for 12 weeks - after the 12 week period - on average how many of these do you keep on?

thanks