Ladies and Gents,
Thanks for the enquiries received so far, keep them coming. As i've said in our communications, i'm not going to get involved with threads and comments prior to my getting involved with the company, outside the more sensible and legitimate questions posed. I will post my response to those in the next week or so.
Ok, for this post, I'd just like to answer a few of the more common questions being asked:
1.) How much capital can you expect to be allocated?
That depends on your performance and levels of psychological comfort at trading with increased amounts. We have enough capital for traders to work with. Apologies for being vague, but this will be discussed on a one-to-one basis, subject to meeting the basic requirements.
2.) Is there a preferred trading style?
We have no preference so long as your strategies work!
3.) What is fee split arrangement?
This is negotiable. Obviously as you become more of an asset to the company we want to give you more capital to trade with and an incentive to stay with us! At outset the split is 50-50.
4.) Are you required to maintain the trading account at Vantage after the initial trial period?
Yes. We have negotiated a good discount on spreads with Vantage who are our company broker. Obviously the more traders that are trading capital with them the better as it means that we can benefit from further discounts.
5.) Can the 3 month trial period be negotiated down to say a one month period?
Unfortunately not. We are looking for consistency and a one month period is too short a time-frame to demonstrate that.
6.) Do you have monthly targets to hit?
No. We do not wish to apply unnecessary pressure on traders as we believe it is negative. On the same basis that a one month basis is not long enough to determine whether or not a strategy works, a down month doesn't mean a strategy doesn't work either!
7.) What is the minimum amount that has to be transferred into your broker to start the trial period.
The minimum amount is £350. That said, as i've mentioned earlier, we need to see evidence of performance at different psychological levels. So if you transfer £350 in and demonstrate the required consistency, don't expect us to put £350k into your account. It will be incremental based on us developing a working relationship. There is no shortgage of funds to give to traders, but equally we are very protective of our investment capital and as we are taking the risk, we need to be confident in your ability.
8.) When do I get paid?
Monthly
9.) What is the maximum loss permitted?
5% daily.
10.) Why are you not regulated by the Financial Services Authority (FSA)?
We don't need to be as we are not handling your money. Our broker, Vantage, is.
Ok guys 10 questions answered for you. I hope you fire in more at me. If you're a proficient trader, we want you onboard, it's as simple as that.
There are two facets to the company, trading and training. We're not a fly by night training company dressed up as a prop shop with ridiculous contracts and no space on the trading floor, though I understand the cynicism from what I encountered on my own journey. We want traders who want to trade remotely and those that want to work on the floor itself. And we are here for the long term.
If you want training to then be able to go remote or trade on the floor, then we do that as well. I joined the Academy AFTER reading 'the thread' that Blaiserboy kindly referenced earlier. I encourage you to read it and question me. All my contact details are listed. If you have any questions get hold of me. I only operate in an entirely transparent manner and am looking to build relationships with those who are serious in developing themselves as traders, either from scratch or to get onto the next level!
Keep the q's coming, even better pick up the phone and we can arrange a meeting (in my office in London - not the Phillipines as was recently asked!)
All the best,
Mike
[email protected]
07411 338 029
020 3371 6312
