Swift Trade secret to success?

Quote from tradedawg:

I don't understand your point....

if traders are making say 100k/month and getting 12% of it at a Swift location in Israel.....why wouldn't they move to a Swift location in Canada and get 65% ?

in one month alone that's a difference of 53k to their bottom line
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first of all.....who knows what the payout percentage is in Isreal....but im guessing if someone is making 100k a month they will be well taken care of to stop them from moving away.......

and second.....wages are not set by the company...they are set by the market in which the job is located....do you think walmart employees get paid the exact same from store to store from country to country....not likely.

and 3rd....its pretty easy for us to say..."why dont you move from China to Canada for a higher payout".....well it probably isnt that easy to just up and move and leave all your family and friends behind and move to another country where there is nothin for you but a job. Obviously if the difference was 50k a month it would be an easy decision.....but clearly that is not the case in 99% of these cases.
 
Not everybody can get into the USA whenever they want. Especially if they are non white and from and not from Western Europe/Canada. Visas are not easy to get, especially after 9/11.
Peter Beck, you are one shrewd mofo.
 
Quote from riskreward:

Not everybody can get into the USA whenever they want. Especially if they are non white and from and not from Western Europe/Canada. Visas are not easy to get, especially after 9/11.
Peter Beck, you are one shrewd mofo.
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it is not Peter Beck that decides what % traders get paid in non-canadian countries....he (swifttrade) gets the same % from each Office outside of canada....it is up to the Office manager or Office owner as to how much he pays his employees. Peter Beck could care less what that percentage is as long as he gets his %.

So the reason why Chinese offices pay their traders between 8-15% is because that is what the office owners want to pay their traders.
 
"first of all.....who knows what the payout percentage is in Isreal....but im guessing if someone is making 100k a month they will be well taken care of to stop them from moving away......."

true, who knows how much they are getting...thats why i asked the question..

"and second.....wages are not set by the company...they are set by the market in which the job is located....do you think walmart employees get paid the exact same from store to store from country to country....not likely."

Walmart ? are you being serious ?? im talking thousands of dollars a month....not 75cents an hour...thanks for the economics lesson though..

"and 3rd....its pretty easy for us to say..."why dont you move from China to Canada for a higher payout".....well it probably isnt that easy to just up and move and leave all your family and friends behind and move to another country where there is nothin for you but a job. Obviously if the difference was 50k a month it would be an easy decision.....but clearly that is not the case in 99% of these cases."

thats why i was asking about the people who were making good money...not the other 99%
 
So i guess swiftrade is the turnkey approach to opening a prop office, right? That's probably the key to their success, anyone can open an office as long as the franchise chief (I suppose its Peter Beck) gets his cut which is probably 45%.
Why are there no offices in the US?
 
Quote from tradedawg:

Ouch is right !!

In Canada they are getting 65% at Swift on the top end of a bonus plan they have....the good traders that is

I don't know how two different pay models could exist like that within one firm ??

Bottom line is if a trader is getting 12% but pulling serious bucks out of the market....why not just move and get 65% ?
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obvioulsy if you are asking why two different pay models could exist within one firm....you do need an economics lesson. And i used walmart as an example...i could have used mcdonalds.....or how about a car salesman...do you think a person selling cars in china makes the same commission as someone selling those same cars in Canada?
 
Quote from madmunny:

obvioulsy if you are asking why two different pay models could exist within one firm....you do need an economics lesson. And i used walmart as an example...i could have used mcdonalds.....or how about a car salesman...do you think a person selling cars in china makes the same commission as someone selling those same cars in Canada?
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no idea....i dont know anything about cars in china.....except that a bicycle may be a better option....

but im wondering why someone trading the same markets from one country wouldnt move to do the exact same thing in another country for a lot more money
 
Quote from tradedawg:

no idea....i dont know anything about cars in china.....except that a bicycle may be a better option....

but im wondering why someone trading the same markets from one country wouldnt move to do the exact same thing in another country for a lot more money
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maybe cuz they dont know?

i think anyone in their right mind, no matter what, would move anywhere for 1mln+ bucks bonus a yr.
 
Quote from tradedawg:

no idea....i dont know anything about cars in china.....except that a bicycle may be a better option....

but im wondering why someone trading the same markets from one country wouldnt move to do the exact same thing in another country for a lot more money
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lol...kudos Tradedawg on keepin your cool...i was seein how riled up i could get you on this topic and you didnt bite. To many people just get rattled on this topic and it really has nothing to do with them or ever will and i like to see just how rattled i can get them....and you go and take the high road on me. nicely done.

But you are right...only an insane person would stay in their home country makin 12k a month when they could come to canada and make 60k...... thats why i am pretty sure that if you are a top earner in a swifttrade office that pays 15% or lower you could negotiate a better rate for yourself......if a trader in a Chinese branch was makin 100k a month and was takin home between 10-15k for themselves they would be insane not to say to their manager i want a higher cut or im off to canada. And like i said before...of that 100k Peter Beck (swifttrade HeadOffice) would get somewhere around 30k of that....the trader would get his 10-15% and then what ever is left over (roughly 55k) goes to the Office the trader trades for. So you can see i am sure the Office owner would be more than willing to pay the trader a much better % to keep the trader at that office. Granted however, if the Office owner was a greedy bastard and told the trader his 10-15% was the most he was gonna get...then that is the right of that owner.....it also the right of the trader to do what you suggest and move to a better payout. But from what i am told...this happens almost never as it is in the best interest of the office owner to keep that trader there even if his cut goes from 55k a month down to 20k....because 20k is better than 0k!

:)
 
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