Im worried of a scam company

Originally Posted by snoopsy

okay so it all goes like that , on a friday night he called up in a SG number and wanted to do a interview which lasted 50mins about qns managing risk/trade strategies. If i am selected i will be given around 100k funds to trade but on ETFs and i keep high % of earnings but i got to deposit 3% of money to protect themselves too which is reasonable and will be travelling to UK for training. After that convo I looked up the web but nothing. Their web just looks unprofessional and similar to another financial group LCG advisors and his scam company is LGC capital advisors.
Monday morning which is the next working day he dailed up and say there will be 2nd round of interview from overseas in london. I then asked him more information about his company and he said his company do not want to go too much in public. I asked where can i retrieve more information from his company he said I can ask more during the interview later but what he will be another scammer too. I just told them im backing out.

I think it is too good to be true as u straight got a 100k book to trade when u have no experience at all?
and my exp and qualification still not up there yet i am able to get another round of long interview
so i suggest everyone to careful if the deal is too good and when it involves with money.

LOL 100k trading pool is "too good to be true"????

Do you even know anything about trading operations? For a guy who keeps telling others you want to be a trader you seem completely clueless of even the basics of the industry.

Originally Posted by Unregistered

LOL 100k trading pool is "too good to be true"????

Do you even know anything about trading operations? For a guy who keeps telling others you want to be a trader you seem completely clueless of even the basics of the industry.

jokers like him (many here) think that being a trader is just opening a poems account and company give some money for them to play. this kind of scam target noobs like that because that is the limit of their understanding of 'trading'

Originally Posted by snoopsy

okay so it all goes like that , on a friday night he called up in a SG number and wanted to do a interview which lasted 50mins about qns managing risk/trade strategies. If i am selected i will be given around 100k funds to trade but on ETFs and i keep high % of earnings but i got to deposit 3% of money to protect themselves too which is reasonable and will be travelling to UK for training. .

To professionals out there in the industry, i'd like to check with you is there 3% deposit in the proprietary trading industry? Given a 100k funds, the individual has to fork out $3k initially to the company?

From my understanding, most prop traders only have to pay a desk fees in an office only for wire subscriptions and office space rental.

Someone pls clarify. The 3% or whatever % upfront deposit is the first time i'm hearing it.

Originally Posted by snoopsy

thanks! i guess they want me to deposit my own money to trade for them

You must remember the rule of the working world: Employee should never be made to pay to get a job, if you find yourself having to pay to get into a job, something is seriously wrong about the 'job'.

I guess you are being psycho to deposit about $3,000 to 'start off' ? Then when you can't get back the $3,000, they will tell you the market is bad can't help it and they are not responsible for your loss, etc ?

Many years ago when I was jobless and young, I went to a few such similar companies and their way of cheating are the same. Luckily I was not cheated as I ran away as soon as I smelt something fishy. It is so surprising to me that such companies are still around.

Always remember : You work to get money NOT pay the company to get employed.

[snoopsy]

hi all i knew 100k wasnt a lot but me without experience etc they didnt offer me any junior position instead offer me 100k for me to play around ..

if i knew more about trading etc i wont be hear posting anw-to those haters.
just a kid trying to break in to the trading industry no much good advice anw other than much flaming...

You're really not smart enough or cut out to be a trader.

The traders I know irl are smart as nails. You are dumb as a rock, and that's not even an insult because it's true.

Seriously, just take a normal job.

I meant smart as hell and tough as nails but that got omitted.

Good luck boy.

u're likely not to see your 3k ever again, nor any salary.

Originally Posted by snoopsy

hi all i knew 100k wasnt a lot but me without experience etc they didnt offer me any junior position instead offer me 100k for me to play around ..

if i knew more about trading etc i wont be hear posting anw-to those haters.
just a kid trying to break in to the trading industry no much good advice anw other than much flaming...

Depends how u look at it.. u may think those posts are intentionally flaming / putting u down.
But to us who are in the industry(not in FO but still within the bnf industry) we know how things works. Those posts may be harsh, but they speak thy truth.

You called yrself a "kid" , or someone "interested in trading".. but based on yr posts here and in other threads it seems u dont have a clue what exactly is going on.. many of those burning qns can be found in public domain searches. Whether you are "skillful" enough to navigate through the voluminous data in the internet... if you cant even do simple stuffs like this, which chief trader would put you to man a desk ?

B4 u start questioning me how hard is it to use search engines, my qns to u is - do u really think u know it really well, down to every bits? Im not even jumping onto technical qns on trading yet.

U know u r junior with no exp, then pls enlighten me which FI or AM or prop trading hse would want to take u? Give us some good reasons to prove us wrong? Dont give me crap like "im given the chance cos hardworking n sincerely dwn to earth, willing to slog thru sweatshop and given ojt"

My friend, the dealing room doesnt work like this.

Lastly, i wont entirely advise u against yr desired career path. U r a grown adult (at least 21y.o?), no longer a "kid".. u have brains, legs and hands. U choose yr path, u will make do with the results. Good luck.