Got an offered! but weird contract

wwwjnwell1

Newbie
5 0
I have recently got an offer from a prop shop. But the contract looks weird...

I can only say it is one of Met, STA, Futex, Pyne.

Basically, one specific term in the contract scared the hell out of me. It says, "I will undertake to pay the firm, on demand, any losses suffered as a result of all kinds of investment activities."

I asked the guy to explain this and he said I will only be liable for losses conditional on any misconduct. However, it is not mentioned in the contract and he couldnt point out explicitly which bit in the contract says so. So I just told him that i need more time before signing this and here I am...

I wonder if it is a typical term in a contract between a trader and a prop shop? I looked up literally all post about the specific firm on T2W and I could nt find even one post saying anything about the contract. Although i saw posts about this situation with other firms but not with any of Met, STA, Futex, Pyne.

Can anyone give me some advice on this??
 

tar

Legendary member
10,443 1,313
"I will undertake to pay the firm, on demand, any losses suffered as a result of all kinds of investment activities."
This clause says it all !
 

wwwjnwell1

Newbie
5 0
So it is definitely not something that should come up in a proper prop shop contract?...

As I dont see anyone who had brought this up on a forum, i assume they either didnt see it or they just suck it up...
 

YoungGun888

Newbie
2 0
I am working at a prop shop and I can tell you that my contract doesn't have anything like that. It seems they are trying to hold you liable for trading losses, which is kind of ridiculous since the shop want their profit split and not taking risk?>
 

wwwjnwell1

Newbie
5 0
Thank you for letting me know! now i know i should not expect anything like this in a proper prop shop contract

they verbally said that they take all the risk by fully backing me but it is not stated in the contract...

such a d**k
 
Last edited:
 
AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock