LDN capital

This is a discussion on LDN capital within the Trading Firms forums, part of the Trading Career category; Hi, I was accepted for a programme at LDN capital http://www.ldn-capital.co.uk/ I'm curious if they would be good. I have ...

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Old Dec 5, 2015, 10:53am   #1
Joined Dec 2015
LDN capital

Hi,

I was accepted for a programme at LDN capital

http://www.ldn-capital.co.uk/

I'm curious if they would be good.

I have done research in the past and found that 95% of the firms out there get bad reviews, seen as scammers etc. This company is different. They exist for quite a while, not like a lot of prop firms who only exist for a couple of years. I have also found good reviews on glassdoor, and barely found any bad reviews, of which usually there is not a lack of.
programme would be 4,5k for 2,5 months and afterwards they decide to take you on board or not. If accepted, the fee goes towards your desk fees so in that regard the training is "free"

You guys have any experience with them?

Having talked to protraders (I'm a newb), they even told me that all of those types of firms would be after your money and you'd better spend the 4,5k on your account and learn by yourself.

However, I do like the idea of getting training, simulation and mentoring as I think it would be speeding up the learn curve. Besides, being in a trading environment and sharing experiences with fellow traders, is something which appeals to me instead of doing it all by myself from home.

I would highly appreciate a view of you guys on this firm and / or just the industry in general.
If your opinion about this firm is negative, please elaborate and don't just reply
"this firm is a scam they take your monies"

I have seen a lot of bashing on this forum about prop firms and there probably is a good reason for it, however I do appreciate an objective opinion.
I have been looking for a long time for a good company to join as it is difficult to find a legit firm out there.

Many thanks

Last edited by jaapstok; Dec 5, 2015 at 10:59am.
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Old Dec 16, 2015, 4:03pm   #2
Joined Dec 2015
jaapstok started this thread Hi Shalashaska ,


thanks for your reply.

Have you been taken onboard? if not, what are you planning to do? So you would definitely suggest not to do the course?

I do know them a bit as I did a course and they seem decent guys, best firm too that I have visited so far. also the management told me there would be mentoring while doing the simulation so I am quite surprised to read that.

Also I`m a bit surprised they don`t teach anything new. (depends on your experience of course) I think every trader needs to find their own style, if they can help you with that, then that is fine. I also don`t expect them to teach you the holy grail. more like, they teach you the rules, you need experience to be able to win at the game kind of thing.

I`d actually be interested in skyping if you like. I wanted to pm you but I couldn`t reach you that way

thanks a lot for your reply again!
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Old Dec 26, 2015, 2:17pm   #3
Joined Jun 2005
Seriously Jaapstok, do you honestly believe that anyone here thinks you are a genuine poster making an innocent enquiry ?

It's so obvious that you are working for your firm touting for business. If you are confident of your company and reputation then simply bang a drum and say so not act like a snake in the grass.
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Thanks! The following members like this post: hhiusa , Lord Flasheart
Old Dec 31, 2015, 6:55pm   #4
DT
Joined Sep 2003
screen based futures trading firms used to pay you a small salary while you tried trading on the sim... lots of those firms no longer seem to recruit graduate trainees, this sort of thing got much much harder and the easier money is now gone

the fact they're charging you a fee indicates that you're rather unlikely to have much success there... if they were producing successful traders then this sort of thing would pay for itself

contrast with say options market makers who will happily pay you a decent base salary from the start... the difference being they actually have a decent edge, you're about 10 years or so too late for these sorts of futures trading firms

I think handing over 4.5 grand to be stuck on a TT sim for a few weeks is a rip off... what are they actually going to teach you - a few lessons on economic releases, some basic technical analysis and some visits from reps from various futures exchanges presumably

no reason why you can't get a free trial on TT then on CQG then other vendors yourself... you probably won't get a whole 10 weeks out of a single vendor but you can always stagger them and get 10 weeks or so in total... give it a go yourself, try trading spreads, try scalping the Dax, the bund, the FTSE etc..
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Old Jul 7, 2016, 12:08pm   #5
Joined Dec 2015
jaapstok started this thread Hi all,

I felt there was time for me to give an update.

I had taken the leap of faith and joined the company. I would like to share my experience with you.

short version

will the course make you a profitable trader? no
are they an honest company? I'm still inclined to think they are but they are not worth the money in regards to the educational part.

long version

After the training program I stayed for a while after but eventually quit.
As expected the course wasn't worth the money. I have learned a couple of things about futures but there wasn't anything groundbreaking. They do not teach you how to trade and you have to figure it out by yourself. They do promise some kind of support as you fill out your logs but I have to say they barely look at it and I haven't really received any good advice.

On a positive note, I do think there is a difference with other prop firms out there though as they do give you a fair chance to trade live. We started the course with about 9 people and 5 eventually went live to trade with the company's funds. In the end everybody left because one was kicked and the others were trading spreads but the commission killed them as they were daytrading the spreads (they were allowed to hold the less volatile ones overnight) and didn't make enough profit to make up for it.
People from previous programmes also left in the end because they didn't make it and lost too much of the company's funds.

I have told them about the fact that they do not provide the support a new trader needs and they did partly agree with me. I left with the feeling that they are oblivious about how to train a trader.

As mentioned in previous posts, if you get taken on, the whole training fee will go towards desk fees for the first months.

I have been informed that the company LDN capital got liquidated and they now go under the name LDN cg.

I tried to be as objective as I could and I hope this helps people who would be looking to join for educational purposes.
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Old Jul 7, 2016, 12:32pm   #6
DT
Joined Sep 2003
Bit of an expensive lesson. Bottom line is that if they were a successful firm they'd likely not need to ask for money for 'training' in the first place.
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Old Jul 7, 2016, 12:36pm   #7
Joined Dec 2015
jaapstok started this thread expensive lesson indeed.
although I understand what you're saying I don't fully agree. as we all know most people fail in this business so I only find it reasonable to charge for the time you're spending to train someone. nevertheless it doesn't mean it has to be that expensive.
I also don't know of any firms out there who don't charge for the education. feel free to tell me which are the good ones!
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Old Jul 7, 2016, 12:44pm   #8
DT
Joined Sep 2003
I think you're being a bit naive, see my earlier post #4 for example.

Well firstly a lot of liquidity provision has moved away from the screen, the firms that are successful at this pay very well. HFT firms(KCG, virtu etc..) and options market makers (Jane Street, Optiver, IMC etc..). They're pretty competitive for rather obvious reasons.

I mean just stop and think for a moment - some firm is claiming to be a successful trading firm yet they make virtually no money and they ask you to pay them for training (despite them seemingly being unable to actually make any money themselves).

There are a few screen based traders left at arcades but it isn't anything like what it used to be - the idea of a firm taking money off you then training you to do that these days is very dubious. They're just selling you a dream.

Last edited by DT; Jul 7, 2016 at 12:50pm.
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