Part-backed - Futex

[Sheen]

What are the usual terms of a part-backed funding arrangement with a prop firm like Futex? Do they require a deposit which serves as a buffer for any losses and allow the trader to trade siginificantly larger size than that deposit would normally allow? For instance, if I put down £10k, can I trade 20 contracts of FESX?

What is the profit split and desk fee?
Are working hours flexible?

Cheers

 

[barryb]

What are the usual terms of a part-backed funding arrangement with a prop firm like Futex? Do they require a deposit which serves as a buffer for any losses and allow the trader to trade siginificantly larger size than that deposit would normally allow? For instance, if I put down £10k, can I trade 20 contracts of FESX?

Cheers

Part-backed to me means; you wear the losses, but split the profits.

 

[Sheen]

If your truly interested in trading at Futex why not tune into our free live webinars that we run twice daily, broadcast direct from the trading floor by one of our senior traders. We use this to chat to our new graduates about the markets, whats happened and whats going to happen throughout the trading day.

This should give you some insight as too how the markets behave and what the professionals are looking at. They run at 7.30am and 12.45pm each day of the week.

Email me at [email protected] and I will add you to the webinars.

I would be more interested in terms of co-operation between Futex and part-backed traders. I managed to get through to the second interview about 2 years ago but withdrew my application as I found the rules for fully backed traders not fair for me.

 

[Parky]

Part backed does indeed mean as barryb says you wear your losses but split your profits, but ordinarily such a deal is aimed at successful traders who are looking for leverage, i.e they want to trade their £ 25,000 as if they had £ 50,000 in their account. Some trading rooms offer the traders the ability to move from a fully funded to a part backed account if they see a good opportunity or wish to make the most of good market conditions. Also, depending on who you are with, good trading rooms also split the costs, that is to say if you are on a 70/30 split as well as taking 30% of the profits they wear 30% of the costs. This is done by putting the costs and profits together and splitting the net. Of course you don,t want to go to a trading room that also loads the costs.