Bright Trade vs Orbixa

Quote from Don Bright:

All I can say is that I have never heard of this "orbixa" firm. Not that it's a bad firm or anything, just not like comparing with Generic or Echo or one of our types of firms.

Don
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I think they're Swift Trade
 
Quote from hitnrun:

don
orbixa i understand is the former swift in canada
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Hmm, interesting. My old friend, Charles Kim (co-owner of Swift) and I chatted several times about our different trading models. He actually came down to Vegas to attend our training program so he could "learn about trading" several years ago.

I'll chat with him before making any comments, don't want to spread any false rumors.

Thanks for the heads up,

Don
 
Don.

snippets of a interesting article on swift trade. at one point they had about 5200 traders worldwide according to a press release

The biggest prop firm in the world. Different model that works

http://www.nytimes.com/2010/12/10/business/global/10daytrade.html

Peter Beck, a founder of Swift Trade, a Canadian firm with about 1,500 traders in China, said his operation was thriving and that the firm got a share of the trading profits.

“Our clients — they open an office, give us the money and then hire people to trade for them. That’s our structure,” he said in a telephone interview.

Swift Trade is considered one of the pioneers in the outsourcing of day trading. It grew initially by offering brokerage services in Canada and then by hiring Canadians to trade the firm’s capital from its Toronto headquarters. The company offered modest salaries to traders along with profit-sharing deals.

By some industry estimates, as many as 10,000 people in China are doing speculative day trading of American stocks — mostly aggressive young men working the wee hours here, from 9:30 p.m. to 4 a.m., often trading tens of thousands of shares a day.
 
Thanks, and yes, I have read "many" articles about the firm. Some good, some not...that's why I try to clear any "news" with Charles before proceeding in any discussions of them.

Thanks again,

Don
 
no problem
orbixa is the old swift . I guess they have some eyes on them these days

amazing how many traders their are in china. just keeps growing
 
Quote from donny123:

Those of you that have experienced both firms, I was wondering which one is better for a trader with limited experience, but highly passionate and motivated to be a successful trader.

I know that Bright Trade requires a security deposit and Orbixa does not. And from reading the forums, Orbixa doesn’t allow overnight positions, and will only give you 10k to start off with a $10/day stop-loss.

I am located in Vancouver, Canada and cannot find any info on these firms except from previous threads posted on this forum.

Will it be a better idea to start off at Orbixa and then apply to Bright Trade after I gain more experience?

Thanks in advance
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I was with Orbixa last Februrary. Basically, you are working for a private company that uses Orbixa's technology.

I worked for GrayCal in Ottawa who use Orbixa's technology. Nothing against the guys running this place. It just wasn't right for me.

Yes, this is an offshoot/rename of Swifttrade.

Our starting daily stop was $50. We also had a monthly stop. The requirement to graduate was $2000 earned on $10,000 of capital. Our share was 30% and we were responsible for all transaction costs.
 
Quote from bhardy307:

I was with Orbixa last Februrary. Basically, you are working for a private company that uses Orbixa's technology.

I worked for GrayCal in Ottawa who use Orbixa's technology. Nothing against the guys running this place. It just wasn't right for me.

Yes, this is an offshoot/rename of Swifttrade.

Our starting daily stop was $50. We also had a monthly stop. The requirement to graduate was $2000 earned on $10,000 of capital. Our share was 30% and we were responsible for all transaction costs.
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Wow, 30% after comms. What a rape.
 
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