I think the reason given for the 5000 poundspayment was to act as a disincentive should the trainee decide to leave after a few months. If this was such a great place to work and nice office with a successful trading strategy, why would anyone want to leave anyway?
£5k course then a salaried job (basic) using company funds - sound ok?
Time for an update...
Thanks for all the feedback guys, I've moved very slowly with this one and can say with confidence that it is not a scam or even a dressed up training program. I'd agree that at first glance the opportunity does seem unusual and that will always strike alarm bells with cautious, intelligent people...I think their marketing side needs refinement.
It is a start-up and as such should be limiting exposure to fixed overheads - I've met a number of people there now who are all genuine, talented individuals. This set-up allows for people in a certain position to move into a potential career in FX, I say potential because there is a buffer that allows those that are not successful traders to work in other areas of the business.
My opinion has been formed from numerous visits to the office, keeping in touch with successful and non-successful applicants and doing background checks on the parties involved in the venture.
If you still want to remain cynical, that is understandable but at absolute worst the downside is 4 weeks quality training and the opportunity to mix with other like minded people...followed by actual trading and a modest salary. Compare this to £3k for 2 days training normally offered by the plethora of wide boy training bodies out there and it stacks up quite attractively.
I can understand the largely negative feedback on this thread to a point but do feel it is important to be a little more open minded - a scam it is not, a dressed up training scheme it is not...by process of elimination I can only assess it to be a genuine opportunity.
Has anyone else any actual experience of the set-up?
Thanks for all the feedback guys, I've moved very slowly with this one and can say with confidence that it is not a scam or even a dressed up training program. I'd agree that at first glance the opportunity does seem unusual and that will always strike alarm bells with cautious, intelligent people...I think their marketing side needs refinement.
It is a start-up and as such should be limiting exposure to fixed overheads - I've met a number of people there now who are all genuine, talented individuals. This set-up allows for people in a certain position to move into a potential career in FX, I say potential because there is a buffer that allows those that are not successful traders to work in other areas of the business.
My opinion has been formed from numerous visits to the office, keeping in touch with successful and non-successful applicants and doing background checks on the parties involved in the venture.
If you still want to remain cynical, that is understandable but at absolute worst the downside is 4 weeks quality training and the opportunity to mix with other like minded people...followed by actual trading and a modest salary. Compare this to £3k for 2 days training normally offered by the plethora of wide boy training bodies out there and it stacks up quite attractively.
I can understand the largely negative feedback on this thread to a point but do feel it is important to be a little more open minded - a scam it is not, a dressed up training scheme it is not...by process of elimination I can only assess it to be a genuine opportunity.
Has anyone else any actual experience of the set-up?
DionysusToast
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Actually the worst case scenario is 4 weeks crap training and the opportunity to mix with a bunch of newbs and some clueless trainers.
Actual trading and a modest salary is NOT part of the worst case scenario.
Of course, they might not last the 4 weeks.
In any case, you are seeing what you want to see and it will be a good lesson for you.
Actual trading and a modest salary is NOT part of the worst case scenario.
Of course, they might not last the 4 weeks.
In any case, you are seeing what you want to see and it will be a good lesson for you.
If you are genuine and not someone connected to the company pretending (wouldn't be the first time), then good luck to you.
However, there have been countless schemes over the years and in the end they all ended badly for everyone except those controlling them. They follow the same pattern, money up front and a story that sounds credible enough to have the victims defending and even selling it right up to the time that the supply of new money dries up and those at the top make their exit or the authorities close it down. In the latter case, they usually blame the authorities for the collapse.
However, there have been countless schemes over the years and in the end they all ended badly for everyone except those controlling them. They follow the same pattern, money up front and a story that sounds credible enough to have the victims defending and even selling it right up to the time that the supply of new money dries up and those at the top make their exit or the authorities close it down. In the latter case, they usually blame the authorities for the collapse.
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DionysusToast
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Here's what will happen.
2,500 for the course
2,500 in losses + trading fees is what you'll be allowed to trade before they kick you out
Did they tell you already how much you'll have to pay for in software fees and comissions once they 'employ' you ?
2,500 for the course
2,500 in losses + trading fees is what you'll be allowed to trade before they kick you out
Did they tell you already how much you'll have to pay for in software fees and comissions once they 'employ' you ?
spy74
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http://www.proptraders.net/
this sites offers a good discussion on this type of set-up.....worth a quick look to anyone thinking of paying up front for a "job" in trading....
this sites offers a good discussion on this type of set-up.....worth a quick look to anyone thinking of paying up front for a "job" in trading....
arabianights
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Where do you notice "Zero Upfront Capital"¿?
wiseman168
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A question to all of the experianced traders, where did you guys learn to trade ?
I have been trading part-time for about 2 years and just about managed to break even. I started out buying crappy EA,s but soon realised that they were crap. For the past 6 months I have made modest gains using my own so called strategy but in order to take my trading to the next level I feel that I need a more defined strategy.
Any ideas or advice would be much appreciated .
I have been trading part-time for about 2 years and just about managed to break even. I started out buying crappy EA,s but soon realised that they were crap. For the past 6 months I have made modest gains using my own so called strategy but in order to take my trading to the next level I feel that I need a more defined strategy.
Any ideas or advice would be much appreciated .
I think most "strategies" come from book reading, self served research, self served marked views and finally, others.
Dont be fooled into thinking that "experienced" traders have anything extra. A lot of them employ the simplest strategy you could imagine.
Here's my course, it's free and can be learnt in 10 seconds, here we go
THE 7 STEPS TO BECOMING A TRADER
1) Pay riciculous fee to go on course
2) Loose capital by trading what learnt on course
3) Buy holy grail EA or black box
4) Loose capital again
5) Spend a fortune on ebooks
6) loose capital again
7) come to forums and learn from real people
I and pretty much every other trader here will tell you that steps 1 - 6 are a complete waste of time, so don't be fooled.
Course done. thankyou very much for attending.
THE 7 STEPS TO BECOMING A TRADER
1) Pay riciculous fee to go on course
2) Loose capital by trading what learnt on course
3) Buy holy grail EA or black box
4) Loose capital again
5) Spend a fortune on ebooks
6) loose capital again
7) come to forums and learn from real people
I and pretty much every other trader here will tell you that steps 1 - 6 are a complete waste of time, so don't be fooled.
Course done. thankyou very much for attending.
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All I can say to you is look at their website and ask yourself, does this look like a professional business? Seriously mate you deserve to looose your money if you think yes. There are ZERO training companies out there and there are ZERO companies that will employ beginners. The only way to learn trading is from other traders.
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MrMiyagi
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jeebus that is one of the lamest websites I've seen in quite some time...
from the 'about the company' page
“Our business model will provide success for the company, and indeed our company hopes to expand its business into the global market within the next two years."
Peter Xu
Director
What does that mean? doesn't mean a thing. My conclusion? well here you go:
Peter has no brains, and a terrible name, and a mightily terrible website, and probably no balls or pen1s, don't ever apply for a job with him again you hear? Good. Peter wants a real job, and real friends, but he's gone too far up the crooked lane, and he can't get back. He tried to trade for real, but ended getting burned... in the balls. Now he just jerks off, and sometimes vomits on his t1ts. just my 2cents. Selah.
from the 'about the company' page
“Our business model will provide success for the company, and indeed our company hopes to expand its business into the global market within the next two years."
Peter Xu
Director
What does that mean? doesn't mean a thing. My conclusion? well here you go:
Peter has no brains, and a terrible name, and a mightily terrible website, and probably no balls or pen1s, don't ever apply for a job with him again you hear? Good. Peter wants a real job, and real friends, but he's gone too far up the crooked lane, and he can't get back. He tried to trade for real, but ended getting burned... in the balls. Now he just jerks off, and sometimes vomits on his t1ts. just my 2cents. Selah.
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tradesupport
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Dear Miyagi,
People like yourself who use language like that to express your opinion without reasonable knowledge makes you a complete W4nker that hides behind a fake user name! And for the Intelligence of your quote it actually reads correct and has meaning if you don’t understand it go back to school you pr1ck. Learn some manners and stop pulling your little C0ck off every night you spineless little cun7... That’s how it goes!
:clap:
People like yourself who use language like that to express your opinion without reasonable knowledge makes you a complete W4nker that hides behind a fake user name! And for the Intelligence of your quote it actually reads correct and has meaning if you don’t understand it go back to school you pr1ck. Learn some manners and stop pulling your little C0ck off every night you spineless little cun7... That’s how it goes!
:clap:
Well what can I say, another one bites the dust. Their website is gone and Companies House are in the process of striking them off. No doubt they made off with some money and no doubt they'll be back under a new name to do exactly the same thing again.
Best spelling of "lose" I've seen yet online. You deserve a prize.
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