Atlas Futures

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barryb

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Hi there

I was wondering if anyone knew anything about Atlas Futures, what their training is like, profit share, retention of trainees, etc. I've got an interview there next week, if anyone knows the interview format, eg. tests, etc, I'd be hugely grateful of any info. Thanks in advance.
 
barryb said:
Hi there

I was wondering if anyone knew anything about Atlas Futures, what their training is like, profit share, retention of trainees, etc. I've got an interview there next week, if anyone knows the interview format, eg. tests, etc, I'd be hugely grateful of any info. Thanks in advance.
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Hi There,

They are likely to test you on some basic algebra first. I went to FUTEX FUTURES few weeks ago for interview and it was really good experince. All of these prop firms put you through several test before offering you any kind of deal.

good luck
 
yeah also went to futex. seems quite well run and profit share 50/50 with reasonable desk charges. had three pretty basic tests. one which asks for the figures like the fste index and interest rates so have a look before you go.
has anyone heard of tradelink worldwide?or know anything about them?
 
Thanks for the replies. Had interview the other day, nothing unexpected, think it went quite well. Sorry, haven't heard of the prop shop you said.
 
Hi all,

I had an interview with Atlas the other day and they have asked me back for a 2nd one. Even though I liked the guy who interviewed me I am really not sure what to think of their set up.

At the moment I work at a top tier investment bank and have done since graduating from Uni in 2003. So I have no real idea about what to expect from these prob firms. Quite a few have asked me on interviews but I havent bothered in the past, but as a trading role at my current place seems more and more a distant fantasy I thought I would give Atlas a chance.

Does anyone have any opinions or advice about Atlas or just prop shops in general. Dont want to be too hasty by packing in a very well paid job to run off to some dodgy outfit.

Any advice would be most appreciated.
 
i interviewed at Futex and since then havent applied to any others like them. I rejected their offer for a final interview. This is because the setup is very much akin to a pyramid scheme. If you make 100,000 you get 50%, 200,000 then 60% and so on. The problem with these firms is that they are not for those who have demands on their capital, i.e. those who need rent money regularly etc. In any given month you can walk away with no salary and you would still have to pay the desk fee. I did not see how it would be possible to take on any financial commitments over the minimum 2 year contract without a basic salary.
 
Futex asked me to go on their interview but commuting to Woking is out of the question for me.

Atlas works on the same pyramid

I am fairly lucky as I have no financial commitments to speak of. This is one of the reasons I keep saying that I shd give the whole prop shop thing a try. But, as I have never traded before, I am unsure of what money I shd be expecting to make after my initial period of losing while I learn the business.

It would be good to hear from anyone who actually works at one of these places to hear their views.
 
Maximm, you sound very much like me. I worked for a big bulge and decided to go to a small shop as I wanted to try trading and knew if it didn't work I could always go back.

I did it for 10 months and was offered a trading job back at the big bulge which I took and was there for a year. I am no longer trading for a job (stopped 5months ago), not totally my own choice. Trading in an instituion is very very different from a prop shop.

I know Atlas as a friends friend runs it. Feel free to ask me any questions.
 
Hi Verno,

Basically, all I want to know is do you think its a good way to go for someone like me, who has a good degree from a good Uni, but not Oxbridge and is running the risk of sitting in a middle office job for the foreseeable future. The way I see it is, its what I want to do and I am young enough with no financial responsibilities to speak of to do it.

I liked the guy who interviewed me at Atlas as he was very straight with his opinions, basically saying we want people here who want to make a lot of money. But as a complete novice to the workings of prop houses I dont want to rush in to quick.

Any advice would be mush appreciated.
 
About to interview with FUTEX

Im looking to move from leeds to london and have worked as a stockbroker for 6 months after graduating... ive been offered an interview with FUTEX and im considering it, I know that they will test me on algebra and the index's but wondered about how intensive the tests are on derivatives statistics and forcasting mathematics.. its been a while since i used them and basically I need to know how much i need to brush up.
 
the futex tests are pretty easy. their was a no calculator maths test with simple addition/subtraction/multiplication/division. There was also a logic reasoning test which was very easy although a lot of the candidates at the time seemed to find it challenging, however if you're anywhere near the calibre to enter IB you will find it a doodle. Then there was just a test like who sets the interest rates in UK/EU/US, and umm on what exchange could you buy options and things like that. Dont worry bout it is my advice.
 
Cheers Mate

Thanks for the info sounds like a piece of cake... i'll just make sure i stay awake through it.
Cheers
Nat
 
The tests may be easy, however if you display that kind of arrogant attitude in the interview you'll fall at the first hurdle. I am reliably informed that trading is completely different from broking, and in order to succeed, all egos must be left at the door.
 
I agree with barryb....

I know the owner of a prop house and he says the moment you put "trainee trader" adverts in the press loads of people who think they are gods gift apply and they shoot themselves in the foot by being over arrogant in the interview. I am not saying that you were planning to be like this, but the best advise I can give is to be individual, have an educated opinion on the markets, show a bit of desire and you 'll do fine...

After all, as easy as you may find the tests...there is always someone more intelligent than you!!

best of luck..
 
leveraged trading

How odd! To call own account trrading, when backed by a large institution, a PYRAMID scheme. If anything you should feel priveledged that someone believes in you enough to back your judgements with their financial clout. :eek:
 
The whole salary thing for working in a prop firm is old news. 99% of traders in their first year WONT make a profit and there is the added headache of costs. Now you add a salary to the equation and it adds to something like £25k in the first year alone to train someone (and there is no guarantee that that person will stay). I have heard now that some firms give salary for first 6 months whilst training and that seems reasonable.

My belief is that a good trader doesnt need a salary (and after 1 year one should determine if they are truly good or not)
 
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