Assessment at Futex

[Sheen]

I was invited to an assessment meeting at Futex Woking office. What sort of questions can I expect? How can I prepare for this assessment - in other words, what answers should I give to be accepted as a trainee futures trader?
I presume that it is not a great success to be invited to this assessment as probably everyone who submits their CV gets an invitation, am I right?

Good thing is that they pay £500 a month for the first three months of training. Is it gross or net? What basic salary does one get at a later stage, as a futures trader?

 

[tar]

http://www.trade2win.com/boards/trading-arcades/21353-futex-1st-interview.html

 

[sk1105]

3 tests:

1 x Basic arithmetic (e.g. 0.5/0.25)
1 x English language/verbal reasoning test (can't remember any examples but if you can speak and write in English you'll be fine)
1 x Financial Markets knowledge (e.g. closing price of CAC, EUR/CHF or name a FTSE company etc. Again, fairly basic).

You should be in and out within 30 minutes to be honest. Good luck.

 

[Sheen]

I have passed the assessment tests and been invited to the first interview. I would be grateful if anyone, especially those working at Futex, could anser these questions:

1. How much time could it take before I start trading with real money with a 50/50 profit split? What criteria do I have to meet to be allowed to trade live?
2. What is the initial "trading power". i.e. the number of contracts I can trade, eg. on EUR-FX? How fast can it grow and who decides about it?
3. What are the loss limits - expressed in daily/weekly/monthly terms?
4. Is it possible to have your profit paid through an offshore company?
5. Is trading on a private account allowed while working at Futex office?
6. What are the working hours? Can I come to the office and leave whenever I want to? Can the positions be held overnight?

 

[sk1105]

When an interviewer says "do you have any questions?", it is the generally acceptable moment for you to repeat the above.

 

[Sheen]

When an interviewer says "do you have any questions?", it is the generally acceptable moment for you to repeat the above.

Yes, I know that but I would like to hear the answers from an independent source, someone who has already tested this in practice. Do you know the answers?