Anyone heard of swifttrader?

brokerboy · Sep 12, 2005

Quote from seesound:

I also suspect where they get the money to trade.

To Nana, they are recruiting trainees in almost every major cities in China.

swift backs them with money. they cant lose paying people 300 dollars a month to trade fulltime like dogs.

DC33 · Sep 12, 2005

well its a supply and demand issue.. Swifttrade in China and Phillipines to me is just SMART

they can pay what ever % they do there as long as their workers are happy both side wins...

to be honest paying a trader 15% in China of his profit say $3000 a month .. the trader will be extremly happy...

i work in China right now.. and $450 USD a month in China is HIGH.... even for Univerisity graduate

TigerDawn · Sep 12, 2005

I got my start in trading at swift trade. I will tell you if you have no capital and want to be educated on the inner workings of the finicial markets, I would highly recommend giving swifttrade a try. They gave me my start in the market place and their training process minimizes loss at their expense.

Oh, and they actually pay on time unlike some others.

My 2 cents

Nana Trader · Sep 13, 2005

Quote from DC33:

well its a supply and demand issue.. Swifttrade in China and Phillipines to me is just SMART

they can pay what ever % they do there as long as their workers are happy both side wins...

to be honest paying a trader 15% in China of his profit say $3000 a month .. the trader will be extremly happy...

i work in China right now.. and $450 USD a month in China is HIGH.... even for Univerisity graduate

Thanks to brokerboy and DC33,

Are you guys saying that Swift provide them capital, and
they get like small % of the profit made?

what if they losing money? Do they still get any salary?

Nana Trader · Sep 13, 2005

Quote from TigerDawn:

I got my start in trading at swift trade. I will tell you if you have no capital and want to be educated on the inner workings of the finicial markets, I would highly recommend giving swifttrade a try. They gave me my start in the market place and their training process minimizes loss at their expense.

Oh, and they actually pay on time unlike some others.

My 2 cents

In china? where? Like what's advantage in for their
training? Do teach teach you fundmentals, news reading,...

seesound · Sep 13, 2005

Thank you all for your info.

My question becomes "do I need to pay ANY fees when I lose money?"

To DC33, glad to know that you are trading US securities in China. It is an expanding market. By the way, $450 is absolutely not high in china for a fresh graduate, considering the overnight work.

areyoukidding? · Sep 13, 2005

are those the guys trading for .001 cents on these cheap stocks. i say get them out of here.

brokerboy · Sep 13, 2005

Quote from Nana Trader:

Thanks to brokerboy and DC33,

Are you guys saying that Swift provide them capital, and
they get like small % of the profit made?

what if they losing money? Do they still get any salary?

what salary? i don't think they pay you any money if you lose money. the deal might be different is asia but odds are its not.

0008 · Sep 14, 2005

One of their partner said 80% of their trainees will fail!

TigerDawn · Sep 14, 2005

Quote from 0008:

One of their partner said 80% of their trainees will fail!

98% of non-swifttrade trainees will fail, so it strikes increasing your odds by 18% when you are learning is a step up.

Also, their pay scale is 100% commision, which should be no surprise since if you trade on your own (from home etc.), your own earning are also 100% commision based.

Also, once you grad you are responsibile for your losses (wow, just like the real world), but during training you are not (assuming you follow their risk/reward scale eg. do not buy 100, 000 shares of something and watch it tumble $1). Which I am hoping anyone with an ounce of experience will understand?