Job Offer at Title Trading

P

prestonhouse

Hey everybody,

i've been offered a position on the floor at Title Trading in Charlotte, NC. I'm totally new to equities. all my trading experience has been in the spot fx market. I read through all the threads on Title Trading and got some valuable info from those. I see that a few of you have traded with them.

1. they didn't have compensation details in the contract, so i emailed the floor manager, and this was his response: "As far as rates, we do not publish that in your contract because they do change from time to time. You will come on board with a payout of 35% of your account. You account will be net of gross profits, commissions, rebates, SEC fees ect. Your base commission rate is $0.20/1000. Rebates, ECN fees are selected by the ECN you traded on."

do these terms sound good to you guys?

2. Does anyone trade with Title Trading right now in Charlotte or other cities that would allow me to PM them to ask a few detailed questions?

I'm just a bit concerned because they offered me a spot at the end of the interview and it all seemed a little too easy. Maybe I'm just over-analyzing it, but i want to make sure the deal is good, and the entire prop firm industry is new to me, and i don't want my lack of knowledge to cost me time and money.

No upfront capital, no monthly fees (except for a small software fee after 5 months. $150 i think)

Thanks so much for any help/wisdom!!

Jason
 
Quote from prestonhouse:

Hey everybody,

i've been offered a position on the floor at Title Trading in Charlotte, NC. I'm totally new to equities. all my trading experience has been in the spot fx market. I read through all the threads on Title Trading and got some valuable info from those. I see that a few of you have traded with them.

1. they didn't have compensation details in the contract, so i emailed the floor manager, and this was his response: "As far as rates, we do not publish that in your contract because they do change from time to time. You will come on board with a payout of 35% of your account. You account will be net of gross profits, commissions, rebates, SEC fees ect. Your base commission rate is $0.20/1000. Rebates, ECN fees are selected by the ECN you traded on."

do these terms sound good to you guys?

2. Does anyone trade with Title Trading right now in Charlotte or other cities that would allow me to PM them to ask a few detailed questions?

I'm just a bit concerned because they offered me a spot at the end of the interview and it all seemed a little too easy. Maybe I'm just over-analyzing it, but i want to make sure the deal is good, and the entire prop firm industry is new to me, and i don't want my lack of knowledge to cost me time and money.

No upfront capital, no monthly fees (except for a small software fee after 5 months. $150 i think)

Thanks so much for any help/wisdom!!

Jason
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No deposit and no risk to you is obviously good.

Commission good.

35% pay out is on the light side. Should negotiate for at least 50%.
 
I worked there in Canada, didnt like it. They make you trade there way only. I didnt like the software. As for the fee if you make even a penny in those first 5 months your charged. If you want practice though and want to learn its a good route. We also got 50%.
 
Preston what's up man? Doesn't sound like a bad deal but you should definitely be more careful with your personal info and be more discreet when discussing your intentions, offers, and companies that are interested in you. You will be surprised at how easy it is for you to step on toes unknowingly. Good luck with your opportunity.
 
Sounds like bottom line is they only make money when you make money. That means there's a real motivation to make good traders. I'd jump at this kind of deal if I were just starting out in life. You can worry about payout percentage after you've been profitable for awhile.
 
Besides the fact that I don't think there are really that many prop shops in charlotte, I would definitely take it. Stay there till you get better at trading and then trade on your own remotely once you get the hang of things.
 
great commsion rate, no depoist good, no risk good, 35% payout very low, once u prove urself try to get a new deal, and shop around, Congrats
 
Late input here: .20 per 1000 is a great rate, especially if you're a high frequency guy like me.

35% payout, on the other hand, even combined with the .20 rate, is below what you can get on the market.

Most firms don't try to take more than 50%, though their rates may vary. 0.20 / 1000 is the lowest I've heard of so far.
 
I'm no expert but i'd say it was a good deal , if you prove you can make money then renegotiate , till then they are taking all the risk and cost ( which I suspect is very high ), take it , get on with it , then think again .
 
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