London Trading Exchange - has somebody made some experience with them?

A Dashing Blade

Experienced member
1,373 170
Clicked around the site for 5 minutes (ie 4:30 minutes more than should be neccessary) and

1) failed to find out who regulates them
2) failed to work out exactly what they do

Avoid with bargepole.
 

TraderBoy92

Junior member
10 0
That is the point, I had the same problem.
I can't find anything about them, usually they should be regulated by the FCA, and no person works there in LinkedIn, no Facebook pages, nothing.
 

A Dashing Blade

Experienced member
1,373 170
Sofia Alecci . . . leads to an operation called "Emann Charts" who recruit for trainee traders on Gumtree ffs!

Whois.com of emanncharts.com leads to Umayr Najmudeen . . . whose diretorships are listed as . .
"GOLD LOCKER LIMITED, LONDON TRADING EXCHANGE AND CLEARING LIMITED, LTX EDUCATION LIMITED"

Use companies house website . .

All the above are new companies, no acounts filed etc operating out of the same east london adrees.


I remain an agressive seller.
 
Last edited:

TraderBoy92

Junior member
10 0
Who is Sofia Alecci?
I can't also find anything about her?
 

indierock92

Newbie
1 0
Hi,
I got an interview as well with them, I keep on trying to find out more info as to when I would start the programme (Since I live in Milan and graduate in June) but she'll keep replying to me without that info.

Also, I wouldn't fly out to London for no good reason, I'm trying to understand if this is a good company or not, but from the comments above, it's not. Thanks for sharing!

If anyone else has got any other info, please share!

G.R.
 

Latham01

Junior member
20 0
Don't bother.

I was offered an interview with them so spent £75 on travel costs to get to their office, the job advert said Canary Wharf so when I get there I'm expecting a nice shiny office but in fact is slightly outside Canary Wharf with two dingy rooms and a cupboard.

When I arrive I'm met by a guy in jeans and a creased shirt (whilst being in a suit with tie myself) and handed a sheet of paper with ten questions on it (supposedly an assessment). Questions along the lines of:

Estimated current price of an ounce of gold?
If a bat and ball cost £1.10 and the bat cost £1 more than the ball, how much was the ball?
If you had to invest in in shares, what company would you invest in and why?

That's all I can remember right now, simple stuff really.

Anyway, so I'm put in the cupboard which has a desk and chair in it, but no light so the door is kept open, at this time I notice the procession of people coming in and out of the front door (directly in front of the cupboard) and alarm bells start going off as this is like no other interview I've ever been to. The people coming in being handed the same questionnaire and those going out being given directions to the nearest Tesco?? Wtf?

So I finish the test and hand it to the first guy who then directs me to one of the rooms, I go in there thinking this is going to be the interview now and there is a little Chinese woman sitting behind a desk with a computer on it. She gets me to fill out a form with name, address, DOB, what instruments have I traded etc. and asks me a couple of questions along the same lines, but none of the usual interview questions. After about five minutes of this she asks if I want to speak with a professional trader, apparently if I make a good impression then I'd be recommended by them to HR. I say yea that'd be great, thinking I'd be able to ask some in depth questions about what it's like to trade there, and she pulls out an invoice and says that'll be £20 cash please. I'm sitting there with what must be a shocked expression on my face before she then says if I don't have the cash on me there is a Tesco around the corner! And the penny finally drops! I say can I ask you a few questions about the company and about the training scheme and she says I can't really answer anything you should speak to the traders.

I say no thanks and go to walk out, as I do I notice the other room with it's door open, I look inside and there are a few desks in there with what looks like MT4 screens set up. There are a few people sitting down and a guy up the front and they're cheering, not sure why and not interested I leave.

A few days later on a Wednesday I get an email saying I was successful in my application and I should come into the office to pick up my starter pack before starting training a couple of weeks later. As I wasn't able to ask anything previously I send back an email with some questions.

Emails to follow.
 

Latham01

Junior member
20 0
Me:
Thank you for your email. Unfortunately I won't be able to come in this week, I have to make travel arrangements and it is too short notice. Would you be able to email or post the details to me?

I also had a few questions regarding the position as few details were given at the interview:

Is the position salaried?
Is it a training course? Are there any costs involved?
Following the training, are traders funded by the company? Are there conditions in place?
What is involved with the training?

Many thanks


Reply:
The information is in the starting pack but I will reiterate it on here for you.
You will be under intensive training for a period of one month after which you will start trading an investor account given that you successfully pass all the assessments. When you are fully contracted to the exchange you will share 35% of the trading profits, 65% back to the investor.
We initially start with a £25,000 to £50,000 account and scale trader up to £1m before we pass the higher threshold trader to a hedge fund
Desk fees of £500 are charged by the traders to train you.
If you have any further questions do not hesitate to ask.
Kind regards
 

Latham01

Junior member
20 0
On account of the fact that the 'assessment' was easy to the point of being farcical, there was no proper interview, I was asked for £20 cash to speak to somebody (cash I guess so that there was no record of a transaction taking place), a room full of people cheering (speculation here since I didn't go in but I'm guessing these people had paid the £20, been sent into this room and placed a few dummy trades. I then surmised that the cheering was for some poor sod because he got a winner, making everyone feel better about the money they just wasted), the £500 fee for 'training', no info about said training and the fact that when I researched the company all I could find was the website and the info on companies house stating the company had only been set up in January - All this led me to believe that the procession of people was just a way of making a couple £k from the amount of people paying £20 each. Admittedly some like me probably didn't pay it but from the look of it a fair few did.

The lack of a company record makes it seem unlikely that they are able to provide the sort of funding they claim, admittedly I can't prove this either way but I just didn't get a good impression from them and I'm sure people can see why. The fact I wasted £75 and two days on travel didn't help.

Hope this info helps somebody out there before they waste their time and money.
 

Kashvi

Newbie
2 0
On account of the fact that the 'assessment' was easy to the point of being farcical, there was no proper interview, I was asked for £20 cash to speak to somebody (cash I guess so that there was no record of a transaction taking place), a room full of people cheering (speculation here since I didn't go in but I'm guessing these people had paid the £20, been sent into this room and placed a few dummy trades. I then surmised that the cheering was for some poor sod because he got a winner, making everyone feel better about the money they just wasted), the £500 fee for 'training', no info about said training and the fact that when I researched the company all I could find was the website and the info on companies house stating the company had only been set up in January - All this led me to believe that the procession of people was just a way of making a couple £k from the amount of people paying £20 each. Admittedly some like me probably didn't pay it but from the look of it a fair few did.

The lack of a company record makes it seem unlikely that they are able to provide the sort of funding they claim, admittedly I can't prove this either way but I just didn't get a good impression from them and I'm sure people can see why. The fact I wasted £75 and two days on travel didn't help.

Hope this info helps somebody out there before they waste their time and money.

Hi new here have an interview next week, do you know if it has traders working there or is it just training only?
 

Latham01

Junior member
20 0
Hi new here have an interview next week, do you know if it has traders working there or is it just training only?

No idea, for all I know it could be a legit group of traders that have just left another firm and have set up on their own.

All I know is I didn't get a good impression, I have turned down job offers in the past (not trading related) just because I didn't like the interviewing manager so take from my posts what you will. The thought I will leave you with is 'what legit company charges you £20 cash just to ask someone a few questions regarding the job they are offering, and doesn't even have a proper interview before offering the 'position'?'.

Good luck.
 

Kashvi

Newbie
2 0
Last week I attended interview had a 15min assessment questions. The interview I was pleased with as I did ask questions about few points I had concerns about. I wasn’t asked about any fees to see any traders though so I can’t comment on others experience.
I was happy as I personally have no experience at all and have always wanted to trade but have never got the opportunity as yet and I am happy to join if I am selected.
The office did have over 40 traders from what I saw and the place was quite loud and energetic with their trading. I did find out its clients’ money that is traded and not mine as well.
Will wait to hear if I am selected and see how it is.
 

TraderBoy92

Junior member
10 0
London Trading Exchange - Also known as...

Company Number:

08866776

Date of Incorporation:29/01/2014



Company Name: LONDON TRADING EXCHANGE AND CLEARING LIMITED

Registered Office:

UNIT A THE GRAINSTORE
4 WESTERN GATEWAY
LONDON
UNITED KINGDOM
E16 1BA

Company Type: Private Limited Company
Country of Origin: United Kingdom
Status: Active
Nature Of Business (SIC):None Supplied
Number of Charges: ( 0 outstanding / 0 part satisfied / 0 satisfied)

Previous Names
No previous name information has been recorded over the last 20 years.

Key Filing Dates
Accounting Reference Date: 31/01

Last Accounts Made Up To: (NO ACCOUNTS FILED)

Next Accounts Due:

29/10/2015

Next Return Due:

26/02/2015

Last Bulk Shareholders List: Not available

Current Appointments
Number of current appointments: 1

DIRECTOR:

NAJMUDEEN, MOHAMED UMAYR MR.


Appointed:

29/01/2014

Date of Birth: 30/12/1986

Nationality:
BRITISH

No. of Appointments: 3

Address:
UNIT A THE GRAINSTORE
4 WESTERN GATEWAY
LONDON
UNITED KINGDOM
E16 1BA


Country/State of Residence:

UNITED KINGDOM


NAJMUDEEN, MOHAMED UMAYR MR. also a director for


Company Number: 07053721

Date of Incorporation:22/10/2009


Company Name: MANNWEALTH LIMITED

Registered Office:

UNIT A THE GRAINSTORE
4 WESTERN GATEWAY
LONDON
E16 1BA

Company Type: Private Limited Company


Country of Origin: United Kingdom

Status: Active

Nature Of Business (SIC): 64999 - Financial intermediation not elsewhere classified
Number of Charges: ( 0 outstanding / 0 part satisfied / 0 satisfied)

Previous Names
No previous name information has been recorded over the last 20 years.

Key Filing Dates
Accounting Reference Date: 31/10

Last Accounts Made Up To:

31/10/2013 (TOTAL EXEMPTION FULL)

Next Accounts Due:
31/07/2015

Last Return Made Up To:
05/02/2014

Next Return Due:
05/03/2015


Last members list:
05/02/2014

Last Bulk Shareholders List:
Not available

Points to note:


1. Only incorporated Jan 2014
2. Commission only pay / YOU pay THEM for training...
3. SMALL COMPANY EXEMPTION CERTIFICATE filed with HMRC - Not a multi-billion £ company then!
4. Note trading address changes from a FLAT in London N2 on companies house files!
5. Check out the websites - do they 'feel' like a multi-billion £ company?!
6. Company address is a Virtual Office Location - ?
 

Vicktoro1

Newbie
2 0
Just to recap my experience during my few months with the London Trading Exchange I've undergone a fascinating journey through the fundamental and technical factors which affects the currencies of the world. Through personalised face to face instruction with senior traders of great experience and proven track records, to disciplined self study, I have begun to experience the thrilling highs and and nail biting lows of the world of spot Forex trading. although the learning curve is steep, a great and friendly working environment surrounded by friends and colleagues makes you confident of always receiving the advice and support you need to do your job well.
 
 
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