Hi everyone.
I am a futures trader (oils, stirs and indices) who started 1 year ago in a proprietary trading firm in London as a graduate trainee trader. I learned their strategy, I completed successfully the first really difficult months and I have turned profitable the last 6 months. (I have made around 25k before desk fees). I have some serious concerns about the terms and conditions under which I trade there (margin given from company, desk fees, profit split and round trip costs). I am thinking of leaving this company and joining another arcade as an independent trader where I will deposit my own money (lets say around 30-40k).
I would like some advice regarding the following issues:
1) Average desk fees for a trading desk in London (TT software and average other services)
2) Leverage given to independent traders. With a 30k deposit, how much money I will be able to use as margin?
3) What is the common profit split percentages for similar situations? (50-50 or 90-10?)
4) Should I expect significant reduction to my round trip costs due to volume-liquidity rebates? Do the promotions vary from arcade to arcade or are the same everywhere independently of the size of the company?
Thank you in advance for your help!
I am a futures trader (oils, stirs and indices) who started 1 year ago in a proprietary trading firm in London as a graduate trainee trader. I learned their strategy, I completed successfully the first really difficult months and I have turned profitable the last 6 months. (I have made around 25k before desk fees). I have some serious concerns about the terms and conditions under which I trade there (margin given from company, desk fees, profit split and round trip costs). I am thinking of leaving this company and joining another arcade as an independent trader where I will deposit my own money (lets say around 30-40k).
I would like some advice regarding the following issues:
1) Average desk fees for a trading desk in London (TT software and average other services)
2) Leverage given to independent traders. With a 30k deposit, how much money I will be able to use as margin?
3) What is the common profit split percentages for similar situations? (50-50 or 90-10?)
4) Should I expect significant reduction to my round trip costs due to volume-liquidity rebates? Do the promotions vary from arcade to arcade or are the same everywhere independently of the size of the company?
Thank you in advance for your help!
