Swift Trade secret to success?
- Thread starter profit1.000
- Start date
Granted however, if the Office owner was a greedy bastard and told the trader his 10-15% was the most he was gonna get...
Now you´re getting the picture. The big problem here is that the trader cant move to Canada, since Canada wont let him in. And they keep traders on a low enough pay do that they cant really do anything about it, guys making 20k a month for the office can make a living but they cant really save much... much less invest in setting up a competing office or easily moving to another country to find better payouts, and they keep the traders happy with the idea that someday, somehow they are going to get a salary that´s much more than the average for their country... and they use as an example the canadian traders that can easily make 5 or 6k per month{not telling them that those traders do exactly the same net as they do...}
Now you´re getting the picture. The big problem here is that the trader cant move to Canada, since Canada wont let him in. And they keep traders on a low enough pay do that they cant really do anything about it, guys making 20k a month for the office can make a living but they cant really save much... much less invest in setting up a competing office or easily moving to another country to find better payouts, and they keep the traders happy with the idea that someday, somehow they are going to get a salary that´s much more than the average for their country... and they use as an example the canadian traders that can easily make 5 or 6k per month{not telling them that those traders do exactly the same net as they do...}
Even if a trader from Eastern europe or Asia was to make there way to London or even Toronto (or any Candian Swift Branch) do you hinestly think Peter Beck would be willing to give them a higher rate because the moved to Canada. HAHAHA!!!!!! this would not happen. You guys do not understand this company, they would rather see their %%% drop to zero and that was one thing I could nver understand. But it was made clear to me that they do not want to have extremely good traders as they become a pain. Swift would much rather have 20 monkeys making 5k a month than 3 or 4 guy making 50k a month. Swift understands that even in Canada they can always fill a seat with a new trader and if he becomes a superstar smart enough to move on they do not care. They have 8000 branches in China and nobody else around. The only thing I would like to know still is how is it possible swift can have enough capital to supply the margin for $1B for all there traders. Last I checked that was $250M and Swift I can promise you does not have that kinda capital. they can't even get their software to run for more than 12 hours without a major meltdown.
Simple Swift is so successful because they understand they can get away with paying their traders nothing,
Oh and ECN rebates, forgot those make up 50% of the company. Thank god for ARCA and INET.
MM
Simple Swift is so successful because they understand they can get away with paying their traders nothing,
Oh and ECN rebates, forgot those make up 50% of the company. Thank god for ARCA and INET.
MM
I don't know about that, swift has been around for a number of years already. I'm sure one of the diggers on this site will find a source approximating swift's net worth.
Peter Beck is a snake alright, I don't think swift trade could be where it's at if they didn't have someone like him at the helm.
Quote from madmunny:
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!
lol - any chance you are one of those office managers madmunny ??
at any rate I guess that's the answer though - so you guys pay more to traders if they approach you about a higher scale since you have the room to do it....I guess that makes sense
i just couldnt understand the HUGE diff......15% (or whatever it may be) to 65% in Canada that i am hearing about
also, I always thought it was easy to get into Canada, so I never realized it would be an obstacle....