Quote from JohnMcd:
Hey swifttradesuks, why so bitter? It wouldnât be because couldnât make it would it? Iâve pretty much heard enough Swift Trade bashing. Anyone who calls themselves âswifttradesuksâ obviously couldnât cut it as a trader and the manager had to let you go because he/she saw no potential. If Swift Trade is such a good place to cut your teeth as a trainee, you have to look at yourself if you couldnât cut it there.
As a BM/owner of 2 Swift branches maybe I could enlighten some who couldnât cut it at Swift. The training at swift is intended to provide student traders with basic information on how to trade then provide the tools, risk management and coaching to those who are dedicated, smart and determined enough to succeed. If trainees want to be spoon fed and sit on their lazy butts while someone else does all the work, they should hire a money manager. Our branches and the traders that populate them have become much more profitable since we stopped teaching and started facilitating their learning process. Trading is a very difficult profession and many donât make it but those that do can make an extremely good living (yes even at swift) and enjoy a great lifestyle. BTW we have never told or even hinted how much a trader will make in the first year.
One other point, Iâve seen many pot shots on how traders are compensated at swift. First of all trainees are paid out from dollar 1 yet are not responsible for initial losses. Iâd like to know of how many other prop firms do that. Yes swift actually invests in traders. While branches are free to charge whatever they want for training, many charge nothing. If they do charge it is a nominal amount (way less than a newbie usually looses in the first couple weeks). I also hear a bunch of garbage about trader payouts. I know our most profitable traders take home as much or more than these so called prop firms that claim to have higher payouts when you factor in all costs. Most of these firms are just retail outfits masquerading as prop firms (need to put up a cash deposit and then they charge huge ticket fees) Many of these firms donât give a shit how much you make as a trader they are only interested in the ticket fees, the more you trade the more they make. Swift Trade traders are paid much more than the amounts quoted on this and other treads, donât have to put up any of their own capital and donât get raped with ticket fees so at the end of the day there is a bigger pie to split. At Swift at least everyone (traders, branch managers, and corporate HO) shares in the same goal, to make as much money from the market as possible.
Good luck in life âsuks
John
