Kicked out by Schneider Trading Associates, my feed back

financening

Junior member
19 0
Hi, everyone, I am kicked out by Schneider in recent month. I would like to give some feed back to people who want to attend the Schneider graduate programme.

1. Your marks doesn’t mean too much. Personally, I got 45-47/50 average math tests score. Knowledge test average 92-95%, the last test score I guess will be 215+/220(they don’t show me). Key board test 55-57seconds average.

2. The week 2 Friday assessment day is very very important. I messed up the test I believe.Although I worked extremely hard every day, but the practice time(less than 7hours) they give are too short to master. I guess it is simplly because that I am not an English native speaker, so if you are native speaker, you will be fine. They won’t give you more time to practice, once you mess up the test, you will be kicked out. No one will talk about social responsibility, patient or pity. They are totally money drive firm and they don’t care what trouble will give to you. During the course, you won’t allow to vacate half day or something like that (phone is banned during the course). If you have any interview from other companies, the only choice is cancelled or I guess you can lie to them you are in serious illness or other big issue.

3. They have a very proficient candidates kicking system. Firstly, they will ask you to hand over the pass card and secondary they will say you are very good, hard working, intelligence, balabalabala, and then “however” balabalabala. They will shake your hand, which means you can leave now. When you get out the trade room, someone will follow you (walking after you) and press the elevator bottom for you. This final process means you must leave fast and don’t stay in our company even for one more second.

4. 6 month contract, when you finish the 4 week course. If they believe you can make money for them. They will offer you a place in trade floor. The working time is 6:30am to 9:00 pm.
Desk fee is free for first month and then £300 ,£600,after 6 month will be £1600+. You don’t need to pay the desk fee, but the desk fee will be deducted in your trading account (this means that you work for Schneider for free). Most traders sit in the floor until themself choose to leave or be kicked out won’t get liveable salary at all. 6 month contract doesn’t mean you are guaranteed to sit in their trade floor for 6 month, if you do any thing stupid or lose money regularly (which means they don’t see you make money for them) you will ask to leave as well.

The positive side
You wear a suit and work in the city. At least you look like a successful business man. A trader works in the city?
Their course teaches lot of basic trading knowledge, you can learn for free.
For talent people, this is an opportunities to show your intelligence. If you are really good, it is possible to make lot of money in Schneider (but they will rich before you). On the other hand, if you are good enough, you can sit in your home to make money as well.

Negative side
Zero salaries, career gap and opportunities cost (you miss the interview from other company), living & transportation fees, unhealthy life style (McDonald down stairs)

My suggestion
If you have nothing to lose, it is worth to go. If you believe you are genius fell free to go. If you want to have some work experiences or internship in city (better than travelling in the city and take photo) go as well. Otherwise, you go to the wrong place.
I am still very interest in trading; now I decided to open a live account in “meta trader 4 platform”(someone in this forum said it is a good platform). I can learn the knowledge and strategy by myself. I will find a real job for living and trade my account as hobby in free time.
Hope this helps.
 
Last edited:

123 Trading

Junior member
19 1
Hi Financening,

Thanks for sharing all that with us.
I have never been at Schneider, but had the impression (now confirmed) that it was a very hard place to trade.
 

tomorton

Legendary member
8,418 1,342
Very very interesting.

Doesn't sound a crazy thing would be to get on their course, do as well as you can, learn everything you can, stick it out for 6 months then go be a private trader.

Can you re-apply to go on their course a second time? Or fast-track it to go back to the floor?
 

kimo'sabby

Experienced member
1,622 287
Hi, everyone, I am kicked out by Schneider in recent month. I would like to give some feed back to people who want to attend the Schneider graduate programme.

1. Your marks doesn’t mean too much. Personally, I got 45-47/50 average math tests score. Knowledge test average 92-95%, the last test score I guess will be 215+/220(they don’t show me). Key board test 55-57seconds average.

2. The week 2 Friday assessment day is very very important. I messed up the test I believe.Although I worked extremely hard every day, but the practice time(less than 7hours) they give are too short to master. I guess it is simplly because that I am not an English native speaker, so if you are native speaker, you will be fine. They won’t give you more time to practice, once you mess up the test, you will be kicked out. No one will talk about social responsibility, patient or pity. They are totally money drive firm and they don’t care what trouble will give to you. During the course, you won’t allow to vacate half day or something like that (phone is banned during the course). If you have any interview from other companies, the only choice is cancelled or I guess you can lie to them you are in serious illness or other big issue.

3. They have a very proficient candidates kicking system. Firstly, they will ask you to hand over the pass card and secondary they will say you are very good, hard working, intelligence, balabalabala, and then “however” balabalabala. They will shake your hand, which means you can leave now. When you get out the trade room, someone will follow you (walking after you) and press the elevator bottom for you. This final process means you must leave fast and don’t stay in our company even for one more second.

4. 6 month contract, when you finish the 4 week course. If they believe you can make money for them. They will offer you a place in trade floor. The working time is 6:30am to 9:00 pm.
Desk fee is free for first month and then £300 ,£600,after 6 month will be £1600+. You don’t need to pay the desk fee, but the desk fee will be deducted in your trading account (this means that you work for Schneider for free). Most traders sit in the floor until themself choose to leave or be kicked out won’t get liveable salary at all. 6 month contract doesn’t mean you are guaranteed to sit in their trade floor for 6 month, if you do any thing stupid or lose money regularly (which means they don’t see you make money for them) you will ask to leave as well.

The positive side
You wear a suit and work in the city. At least you look like a successful business man. A trader works in the city?
Their course teaches lot of basic trading knowledge, you can learn for free.
For talent people, this is an opportunities to show your intelligence. If you are really good, it is possible to make lot of money in Schneider (but they will rich before you). On the other hand, if you are good enough, you can sit in your home to make money as well.

Negative side
Zero salaries, career gap and opportunities cost (you miss the interview from other company), living & transportation fees, unhealthy life style (McDonald down stairs)

My suggestion
If you have nothing to lose, it is worth to go. If you believe you are genius fell free to go. If you want to have some work experiences or internship in city (better than travelling in the city and take photo) go as well. Otherwise, you go to the wrong place.
I am still very interest in trading; now I decided to open a live account in “meta trader 4 platform”(someone in this forum said it is a good platform). I can learn the knowledge and strategy by myself. I will find a real job for living and trade my account as hobby in free time.
Hope this helps.


So basically you are sh!t at trading? Hey, no worries, join the club my friend!
 

financening

Junior member
19 0
Very very interesting.

Doesn't sound a crazy thing would be to get on their course, do as well as you can, learn everything you can, stick it out for 6 months then go be a private trader.

Can you re-apply to go on their course a second time? Or fast-track it to go back to the floor?

You cannot re-apply to go on their course, the frist month desk fee is free, second month climb up to £800 (new updated information)

Yes you can, you can back yourself to join the schnedier , they are trader & broker facilities service company.
 

Masquerade

Senior member
2,543 284
So did you actually finish the course or they got rid of you at end of week 2?

I made it to week 2, the tests don't mean ****. :LOL: I wasn't bothered when they said they weren't interested - seeing those guys at the back of the room losing money day after day and not being able to take a day off in 6 months or withdraw a penny depressed the hell out of me.

It's all churn and burn at STA and they get rich because they make everyone do loads of round trips. Even if you lose they'll near enough break-even from it. Nice business model.
 
Last edited:

financening

Junior member
19 0
work hard everyday

kick out at end of week 2

very disappointed
 
B

Black Swan

0 0
work hard everyday kick out at end of week 2 very disappointed

I'm presuming you're early twenties, this isn't trading advice I'm offering, it's life advice; you didn't actually "work hard" for two weeks, two weeks is no time at all to put some effort into something to be ultimately left disappointed, such is life..

In relation to your disclosure you actually told us very little, other than the opportunity simply didn't work out for you, perhaps you found it difficult to adapt, perhaps trading at STA is simply not for you. TBH on the basis of what you've posted it appears to me you have a very thin personal knoweldge base of what's involved or required.
 
  • Like
Reactions: RPEX

Trader Newbie

Newbie
1 0
Hi Mate,

I been invited to the interview for next week, they mentioned there will be math test, can you give some tips on what this math test may involves? Also any info on the interview will be helpful.

Thanks

Good luck and believe in yourself.
 

financening

Junior member
19 0
Hi trader newbie , if you do your search in this forum , you will find the answer

don't worry about the interview, you will be fine
 

tommog

Well-known member
402 56
STA's training scheme is brutal. If its the only place that will accept you go for it. But if you have a choice choose elsewhere.
You can not gauge who will make it as a trader after 2 weeks, thats insulting. They take on loads of trainees, make them jump through hoops that have no bearing on trading success and leave a trail of highly intelligent people broke and disillusioned with the industry.

I say this as someone that has been trading profitably in prop firms for nearly 6 years and the only reason I am still here is because I was fortunate enough to start off at a company that took on a handful of people once or twice a year, took a real interest in you and worked closely at seeing you succeed.

If i was on weekly reviews or made to sit ridiculous maths tests or keyboard speed tests I would have been kicked out after the first 2 days!

To the original poster, keep your head up, it takes years to crack this not a couple of weeks on some trainee franchise.
 

financening

Junior member
19 0
Thanks tommog, in recent days, I have read lot of trading books and begin to trade FX at home.

My demo account ( FX) sounds fine,

Profit Factor:1.33 Total Trades: 311 Profit Trades: 65.12%

if the condition keeps going well, I am going to invest £4000 (this is what I have at moment excluding the living fees) in live trading in August. Leverage I believe 25:1 would be fine. I won't trading more than 1 lots at any time.

Any suggestion?
 
 
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