what does FUTEX do ?

If someone is already profitable, but needs backing, can they just show records,past account performance etc and get backed without having to under-go training?

Currently, most training takes place at our City Offfice in Bouverie Street. You may be required to trade from either City or Woking. It would ultimately depend upon a discussion with Futex Investment and Trading Academy at the appropriate time.

Futex back people on a Joint Venture or Partnership Agreement. If you feel you can benefit from Futex environment, together with (what I assume would be) a masive increase in trading size, then it is really up to you to speak to Futex. If Futex believe in you, they will back you.

With regards to woking location - what/who decides where which trader gets to stay where?

Is the london desk reserved for more senior traders or simply for those willing to pay a higher desk fee?

This is coming from someone who is not concerned about the extra costs incurred from working in London, but rather the convenience of living very close to the location is often a an extremely positive psychological factor which could affect my trading

edit: also whats the desk fees like? Do they slowly increase? Full details if possible

Sorry, I do not perfectly understand the question. If you are backed, then Futex are effectively paying or wearing all the risk associated with desk fees - maybe you are a self sufficient trader and wish to rent a desk. Futex do not rent desks. They are not an "arcade". Futex are in the business of making parnership arrangements with traders on a profit share basis. Futex provide capital for talent and in return they enter into partnership agreements. This is how solicitors, doctors, franchises, etc all operate. I hope this helps.

Excellent thread mate, long overdue.

This is where I stand. Been out of uni for a year, age 24, got a 2:1 in Accountancy which does not really interest me. I spent most of my uni time playing online poker and as such have been playing full time over the last year with some live tourneys also around Europe. I currently live in Scotland but in the process of moving to London to pursue a career in trading.

I wont bore you with stories about my interest in the markets like other posts i read lets just say i know where i want to be and what i have to do to get there.

I am under no illusion about being the 1% that gets backed after the 12 week programme and tbh don't really mind. My question to you is including the £8k what would u say is a nice amount to back myself with should we come to some partnership profit sharing arrangement after the 12 week course, would £20k-£30K see me ok or would i have to lump in around a £100k.

Also i am planning to be down and settled in by feb/march early next year whats you dates like for the course for the first half of the year?

Thank you in advance for your time.

P.S when in my first year at uni aged 19 i applied to futex under the pretemps that I had just graduated, basically it was just a bit of a reconnisance mission on my part but well worth it. I passed your test and was asked back for an interview but declined, i realised I would be better getting some candy behind me before I made the jump to the city.

I understand from Futex Investment and Trading Academy that courses will be run every 2 to 3 months in 2012

Hi,

You've mentioned a lot about the requirements for traders wishing to apply for the Futex backed programme. What are the conditions/general criteria for backed traders to keep their seats on the programme? Do they have a certain threshold in their account that they cant go under? Or do they have to average a certain amount of points/ticks daily and consistently etc?

Many thanks,

Pi