I suppose people can draw their own conclusions from your refusal then.
There is a difference in those who are sponsored by Futex and those who pay Futex Investment and Trading Academy ( FITA ) directly. Futex still however have to pay FITA for the training that FITA does. The difference when Futex pay is that the sponsored trainee does not bear this cost, Futex does.
FITA is a separately owned company with a separate set of Directors and shareholders (although there is a crossover). This can be checked out at Companies House for those who doubt.
FITA is a separately owned company with a separate set of Directors and shareholders (although there is a crossover). This can be checked out at Companies House for those who doubt.
donaldduke
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Sounds like a good tax saving scheme.
scose-no-doubt
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Not really. I doubt is saves anything for anyone. It's probably more about segregation and different legal requirements.
Not sure what you mean by tax breaks. Tax break for Futex or Tax break for the Futex traders.
I think we have our traders well placed with the way they pay tax, helping them organise their year ends efficiently and some other legal tax avoidance measures with help of our accountants and tax barristers. Not sure how relevant that is to the thread. Anyone with good advice can organise efffectively.
I think we have our traders well placed with the way they pay tax, helping them organise their year ends efficiently and some other legal tax avoidance measures with help of our accountants and tax barristers. Not sure how relevant that is to the thread. Anyone with good advice can organise efffectively.
Its no secret that an aptitude and genuine interest in trading is what is required. If you have that we aim confirm it and then to nurture it. If you do not, we try to find that out, and would let you know. So, it is that simple.
Hello,
I have a few questions I'd like to ask:
i) Are Futex traders taught how to trade using market depth and time and sales?
ii) Have you noticed any positive/negative affects of HFT algos on the markets that you trade? And has this had any impact on your trading edge?
Thanks in advance.
I have a few questions I'd like to ask:
i) Are Futex traders taught how to trade using market depth and time and sales?
ii) Have you noticed any positive/negative affects of HFT algos on the markets that you trade? And has this had any impact on your trading edge?
Thanks in advance.
i) yes, these techniques amongst many others are analysed on FITA training, and traders are shown how to use these effectively.
ii) Algos have their way of doing things, we trade profitably, both in spite of them and very often because of them. So no, they have not negatively impacted our trading edge.
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.
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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
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
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With regards to woking location - what/who decides where which trader gets to stay where?
Training courses for around 8 to 10 people run approximately once a quarter. The dynamic of where that happens is complex and is dependent upon the whole group rather than the individual. So it may be from either City or Woking. Or, it is possble the group may be required to work for extended time periods from either location. As far as being sponsored by Futex, Futex would expect their trainee to be completely willing to work from either.
Is the london desk reserved for more senior traders or simply for those willing to pay a higher desk fee?
No, but it costs more to trade in London, due to higher rents and rates
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
In my experience I expect the Board of Directors would not financially back someone who has the personality trait that was as psychologically fickle as you describe. They would see that as lacking in determination and frankly are like to view it as warning sign that the person was fundamentally lazy!
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.
dougie1919
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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.
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.
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
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
