Swift Trade Manila Branch, a few questions...

Quote from eusdaiki:

If you're hungry for knowledge about the markets you'll get it there... plenty of it, you'll get the chance to play in the market with real money in real time... you'll get the chance to do hundredths of trades [in one day]... and gain a lot of experience that otherwise wouldn't have been accessible to you. Even if you end up realizing that high frequency day trading is not for you, you'll have learned a lot... and there's always a good chance that you are cut for it, you make a lot of money and you set up your own branch someday...


keep us posted... :D
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Yes, thanks. I'll try to give updates if I can. That is really my main objective, to learn without having to pay for the training and to have an opportunity to trade without using my own money :D.
 
Quote from Tleilaxu Mentat:

I already mentioned that near the end of my first post. It's around US $200 (around the same as what was mentioned for other branches in Asia & Eastern Europe). My point was, if it was normal to be paid a certain amount while you were still in training, because from what I've read in other threads it was more like only a low % of what you would net, which would increase when you "graduate". So which is it, a fixed amount or a certain percentage?

Like I've said, I'm not too bothered with the initial amount, since there is still no comparable prop trading company here that would offer the same terms for those just starting out and eager to learn (i.e., no buy-in, no charge for "training", and so forth).
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interesting... I've never heard of a swift office doing that... Let's see how it works out... are you in Kuala Lumpur?
 
Quote from Tleilaxu Mentat:

Uh, why? What's wrong with that? That's 10K in the local currency, not in dollars :p.
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Ah okay, that makes a little more sense.
 
it's not too closely related, but let me ask ...

if a Philippine citizen opens an IB account from Manilla, must he still be subject to the sec daytrading rule?

i'm guessing yes, but what say ye
 
Anyone who could answer my questions from Swift Trade Manila, or any of the other two branches in the country? How long have they been operating here, if they already have 3 branches? I thought they were still relatively new here given it was only last month when I first came across their ad in the newspaper. How many employees do they have now? TIA.
 
Jean-Luc is the head of the Manila branch I believe. He was a trader in Quebec City back in the days. Good guy. Unfortunately, I can't tell you much more about that particular branch as it most likely is different from mine which is based in Canada.
 
Quote from krazyanyway:

Jean-Luc is the head of the Manila branch I believe. He was a trader in Quebec City back in the days. Good guy. Unfortunately, I can't tell you much more about that particular branch as it most likely is different from mine which is based in Canada.
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Okay, thanks. Good guy in the sense of being nice/ethical/etc. or good in the sense that he's proficient at trading/training people?What is the standard practice at Swift Trade branches, is there some sort of "subsistence wage" while still in training or is it entirely based on how much net profit you could manage in 6 months? What objective needs to be reached in order to "graduate"? Also, what is the %payout before & after "graduation"? Thanks again.
 
Quote from Tleilaxu Mentat:

What is the standard practice at Swift Trade branches, is there some sort of "subsistence wage" while still in training or is it entirely based on how much net profit you could manage in 6 months? What objective needs to be reached in order to "graduate"? Also, what is the %payout before & after "graduation"? Thanks again.
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I did not receive any wage other than my % payout, which starts out at 35% here. We graduated when we reached 2000 in a month. This will usually take anywhere between 2 to 6 months, but most do it in 3-4.
 
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