non-compete agreements

S

smithweston

are they common in this industry?

i will be signing papers soon to open an account with a prop firm in NYC and forgot to ask during the "interview" about this.

if they are, what form do they take?


i will make sure to read the paperwork before i sign but any warnings for red flags would be greatly appreciated.
 
Traders come and go all the time. It's the nature of the business. I don't knw if there are any non-compete agreements but I do know that many firms don't require you to sign paperwork and/or binding contracts to be apart of their trading group.

Just make sure that your firm is nothing like these guys. After doing some research about some firms I applied to I found this about one of them:
Prop Firm Review

As long as you are careful, do your homework and check everything out, you'll make the right decision. Good Luck!
 
non-competes are extremely difficult to enforce, unless you are stealing clients or customers at your new job. I wouldn't worry about it in the least.
 
Quote from clacy:

non-competes are extremely difficult to enforce,
More...

If you keep your mouth shut about your past and present, it is very difficult to find you to make a noncompete stick.

It is not like every prop shop exchanges their trader lists with every other, looking for possible former workers...
 
Never sign a non-compete or employment contract...

Firms should be doing something so that their traders WANT to stay, not staying because they are locked into some deal
 
You must log in or register to reply here.
Back
Top