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Refco Trading Services (Formerly Macfutures)
- Thread starter profutrader
- Start date
Quote from sterlingbloke:
I've joined up because this thread was shown to me by the head analyst - Ranvir Singh - at Mac. It is utterly ridiculous to say that they don't know what they are doing.
Their knowledge of economics and contacts in the marketplace is better than any prop shop I have been at......and I have seen a few. And they also get hold of rumours from the US before my mates at US banks!!!!!
The analysts at Mac don't trade - so sometimes they look at things more like economists than traders. But thats about all the criticism you can give out. Over the last few months they have got things like Fed/ECB comments, the reissue of the 30yr in the US, Yuan revaluation and the Whitehouse Evacuation before anyone else in the market. I have even traded from home with no other systems than my trading screen and just gone on what they have said and made money.
Overall - they are the best on the street. Maybe they can be a bit cocky - but so is anyone who is good at their job!
Excellent! As a prospective Refco employee, I like to hear that this prop group hasn't gone to shit.
It sounds like you work for Refco in London - is that right?
yeah - I work for Refco (mac) in London.......and i think its still a good outfit.....the rates are very cheap now and IT support is good, without being exceptional....
the troubles with TT will obviously rear their heads in the future and its upto you whether you fell you need TT to trade or you can get by with Refco Pro/RTS/Echo etc
but I, along with many others, feel that the analysts are one of the major selling points of Refco. As a previous guy said, they give you free money calls on a weekly basis and they hear a lot more rumour/flow than anyone else on the street. In fact, its a big in joke as to what they get paid because it must form a big part of traders fees!!!
the troubles with TT will obviously rear their heads in the future and its upto you whether you fell you need TT to trade or you can get by with Refco Pro/RTS/Echo etc
but I, along with many others, feel that the analysts are one of the major selling points of Refco. As a previous guy said, they give you free money calls on a weekly basis and they hear a lot more rumour/flow than anyone else on the street. In fact, its a big in joke as to what they get paid because it must form a big part of traders fees!!!
I have read allot of these post and being a current graduate refco trader I think the analyst service is exceptional not only based on the fact that other firms do not have one , but also on the content provided by them.
I agree with an earlier post, they are not there to tell you what to trade, when and in what clip size, surly that is our job as traders...
Ultimately it is for an individual trader to know what is going on in the markets and to use the analyst service as a back up or to get further information, if you sit in front of you TT all day there is no reason why you canât watch the news too.
As for their bias towards certain traders, if you had someone calling you a prick all day (as they do) would you go the extra mile for them ... I donât think so...
Maybe other staff should be looked at, when was the last time someone asked any 3 of the people in charge of training to price a spread or work out hedge ratio's for them, or ask their opinion on the impact of economic news ... would they be any use ... NO ... " think positive and the market will go you way "
Anyway as a graduate trainee this is what I have seen in my last 6 months here...
I agree with an earlier post, they are not there to tell you what to trade, when and in what clip size, surly that is our job as traders...
Ultimately it is for an individual trader to know what is going on in the markets and to use the analyst service as a back up or to get further information, if you sit in front of you TT all day there is no reason why you canât watch the news too.
As for their bias towards certain traders, if you had someone calling you a prick all day (as they do) would you go the extra mile for them ... I donât think so...
Maybe other staff should be looked at, when was the last time someone asked any 3 of the people in charge of training to price a spread or work out hedge ratio's for them, or ask their opinion on the impact of economic news ... would they be any use ... NO ... " think positive and the market will go you way "
Anyway as a graduate trainee this is what I have seen in my last 6 months here...
I'm trading at Refco as well. I was in the London office for a short period and the only thing I can say about the analysts:
They know what they are doing, fast and accurate.
Ranvir (and the other guys at the desk) are always willing to help (If you show you're willing to learn)
When I came to the London office, Ranvir helped me out with most (if not all) of my questions. Although my knowledge level was very low he kept his patience and explained things until I understood (or had a basic understanding so i could do my own research) It was/is of great help.
Keep up the good work,
They know what they are doing, fast and accurate.
Ranvir (and the other guys at the desk) are always willing to help (If you show you're willing to learn)
When I came to the London office, Ranvir helped me out with most (if not all) of my questions. Although my knowledge level was very low he kept his patience and explained things until I understood (or had a basic understanding so i could do my own research) It was/is of great help.
Keep up the good work,
I am interviewing with Refco Trading Services next week to become a prop trader. I do have trading experience. Do any traders from Refco have any suggestions for me? Are they looking for a specific type of style? Are most of their traders scalpers? With my experience I think the DAX market would be a perfect fit for me. In the interview should I explain my preference for this market, or should I let them pick a market for me?
Any suggestions would be appreciated!
Any suggestions would be appreciated!
I was in a similar situation when I interviewed, I had experience w/eurostoxx, and I came in saying "I want to trade eurostoxx and dax and emini's." They said, well, OK, but we think the most opportunity lies in fixed income. The people who are the most successful Refco traders trade interest rate products -- 10yr, Eurodollar -- they are the most liquid contracts w/ a higher tick value than equity futures. well at least the bonds have a higher tick value. it took me a while to adjust to the speed of the treasuries coming from eurostoxx, but it was worth it.
I don't think it really matters whether or not you mention what type of product you prefer to trade. They will pretty much let you trade anything you want at first and as long as you make money they could care less what you trade. They let you trade all the different products during training so you get an idea of what each market is like. It may seem like they are pushing fixed income, but I don't that is the case (wasn't for me), they are just basically stating the facts, most of the money made comes from the fixed income side.
best of luck
best of luck