fair deal

M

mendus

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Hi all

I am working for arcade based in cetral Europe.We mainly do scalping on calendar spreads(Euribor,Sterling,Swiss-Liffe;Eurodollar-Cme) just 1 tick.We are fully backed by the company.They offer basic monthly salary 1000gbp(national averege).We have to do as many trades as possible with covered costs.Below there is a list of commision we pay

0-3000rts 1.14
3000-5000 0.98
5000-10000 0,88
10000-20000 0,78
20000+ all trades 0.78

desk fee(2800gbp including salary).Bonus pay every year(50/50) net profit.Liffe rebates pass to trader.Is it a fair deal?
Regards
Mendus
.
 
Mendus,

If you trade 3000 lots at 1.14, do you pay 1.14 to open and then you pay 1.14 to close for a total (round-trip) cost of 2.28?

Grant.
 
Yes,as we are scalping calendar spreads total cost for opening and closing position will be 2.28.Our target is half tick so for expample on euribor if we are right-net profit(8.24-2.28) for 1 lot.

Mendus
 
Mendus,

Those are the worst rates I have ever seen, this side of Christendom. Your desk fees are also too high. My rates on monthly volume of 0 - 10,000 is Euro 0.39 per side or Euro 0.78 round-trip.

How much trading capital/margin do you have to provide or is the trading capital provided by the arcade?

Are the Polish people yearning for a return of Jaruzelski?

Grant.
 
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