Refco Trading Services

F

FX-Trader

Based on REFCO's recent acquisition of MacFutures Ltd, a London based electronic trading company, we have established REFCO Trading Services, which will commence operations in North America in the coming weeks. With offices initially in Chicago and Montreal, REFCO Trading Services will provide the experienced and novice trader the opportunity to trade and learn with state of the art trading platforms and training programs.

Leveraging the model established in London, we have set up an electronic trading division that will encompass all the attributes of a full service-trading environment. Our experience with more than 175 traders in London, Sydney and Gibraltar coupled with our comprehensive graduate training programs will be a key part to transferring this success to North America.

REFCO Trading Services will provide the necessary tools for individual traders to successfully trade all electronic markets in many different locations throughout the world.

The focus at REFCO Trading Services is the management and training of traders through proven techniques. REFCO Trading Services offers first-class systems, charting packages, news services, research, squawk facilities, account segregation and our own in-house analyst.

REFCO Trading Services will be offering a graduate training program to those who make it through the highly competitive recruitment process. The program is given over a six-month period and stresses a methodical approach to trading. During the initial three months, trainees undergo intense classroom training on fundamentals, technical analysis and trading strategies. Throughout this period they are also trained on the REFCO's real-time simulator "Paper Trader", which hones trading skill without the risk of economic loss. In the second three-month period, trainees begin trading in a controlled live environment, which enables them to practice and implement the skills taught earlier in the program. Throughout the six months, the trainees are continuously assessed through various exams to test their trading acumen and ability. At the end of this period, the trainee will be offered a trading contract at REFCO Trading Services.
More...
www.refco.com/ps/ps.serv.tradeserv.asp
 
I'm very happy to see your interest in the education of traders.....Trading is best left to those who take it seriously, as a profession, and take the time to see how it can be done profitably.

As you probably know, my brother and I have been teaching traders for decades (both within our own ranks, and at the College level).

Anyway, just wanted to say "keep up the good work!"....

Don
 
Three months in the classroom and three months in paper trading are just about enough to keep a new trader - with no experience other than a good quantitative college or grad school background - from going bankrupt.

As with all schools and training institutions, the hard questions are rarely answered in a public venue: The same questions need to be asked for all vendors: colleges, universities, training programs etc.

Questions like " What is my Return on Investment ? ", "What is the percentage of individuals that start the program and that succescfully complete it ?", "What is your trainging goal: to eliminate or bring everyone through the program successfully ? "
"How does your program relate to your fianancial statements: is this designed to bring in profits or to provide a service to another branch of your organization ? "

Start asking these questions and demand to see hard verified numbers i.e. percentage of people that received a job offer, their income after one year out of the program, two years out, etc.
and you will seperate the liars from the honest people.
 
I'm assuming that during the training that the trainees are not getting paid a dime, correct ? So I would have to go for 6 mo and not be getting paid, then "if" I make it, I would be awarded a "trading acct" and then get a cut of the profits ? That's a long time (and big gamble) if you don't make it !!! Plus, I wonder how big of an acct you would get, big enough to overcome 6 unpaid months and still have a decent year? Sounds interested, but what a hump to get over in the beginning !!!

Vega:D
 
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