Im worried of a scam company
 

Hi i have applied as a juniortrader and someone gave me an 30-60mins phone interview

everythings seems fine until they say what is their company

- LGC capital advisors

their website doesnt make them look legit and they say will have another second round of interview if im selected.

Anyone heard of this company before?

Thankyou

come on lah, so many forumers already tell u not to waste time applying for a trader job w/o any connection & a pt deg from SIM. u still go out & appear like a desperado willing to consider any "trading" job of course ur gonna attract all these scammers.

"LGC capital advisors" is a phony company trying to confuse & pawn off as "LGC Advisors", a legit finance firm. Advice to TS - you have to be introduced by someone into a trading job, there is no such thing a unknown person calling you for a 30min phone interview to be a trader. This is not how the trading world works.

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

Dude, why are you doing this? Do you think by posting repeatedly about the same thing you will eventually get validation? Like many have said before, you are looking in the wrong place for answers. So far, the harsh ones that you are getting are actually telling the truth. Why are you so fixated about trading? Is it because you think it's going to be your path to riches and success? In this game, it doesn't always work out like you planned, you know? You can continue down this path of delusion and ruin if you wish. Don't say we didn't warn you.

if any trading firm asks you to deposit money with them, for whatever reason like capital or for courses, RUN FAR FAR AND DONT TURN BACK.

Quite obvious this is a scam, not sure why so many people are heading for trading role. I know the money is good but seriously?!

Okay thanks for the answers. I will reject him and it does look like a fraud. he wanted to schedule for another round of interview.

Hi Snoopsy, what are the updates? Kindly post more details so others will be made known.
Thanks and appreciate

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.

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'

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.

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.

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.

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.

You were given plenty of good advice, i.e. get real and go find a proper normal job. You just refuse to get that into your head and keep using lame excuses like you are just a young kid who is inexperienced and willing to be only a "junior" trader.

Seriously what do you know about trading or even financial industry in general? You are so slow & ignorant to the point that you have to come here asking for confirmation on a 101% obvious in your face scam shop and somehow someone somewhere is supposed to offer you a "junior" job that is one of the highest paying and most sought after in the finance industry?

Look, I think you need to get the idea of being 'taught' or 'given the chance' to trade out of your head. Like I said before, getting into the circle requires a bit of luck of being in the right place at the right time or meeting the right people. If that's not meant to be, then it's not meant to be. It's not like school, where if you study hard enough, you can make the grade. If that's how you envision the business to be, please stop and go do something else now. The defeat will be crushing if you persist.

That said, you can actually learn to trade on your own, just that it is much harder and risks (and therefore school fees) are higher. In any case, you better start getting used to the risk of the unknown as you are going to live it every day as a trader. How does one learn anything? Find out as much as you can about it, then experiment and hope you don't blow yourself up lor. No such thing as bao jiak in trading.

No free lunch in this world. The so-called 'haters' and 'flaming' here does not cost you any money but your 'trading company' will suck the diaper out of you. Please listen to those ppl who are in this industry.

I would like to spin it, that some financial job will required you to deposit Money.
Like Remisier, you need to have S$30k before you can be a Stock Broker, that fund is to protect company from their customer's overloss due to mismanagement on Risk Exposure.

Of course, other than the Legal and regulated Remisier, the rest will be clearly a Scam, or the Boss is Nut, too much money to spend..

Hey man I suggest you read some books or watch tutorials regarding trading.I remember the time my friends in camp were playing around with currency exchange and I thought I download a forex app and play around with fake money to get used to the idea of trading commodities and currency.Just 2 days after joining i had a loss of 3k and then soon one guy calls me up from UK and tries to persuade me into investing real money.Its not a scam but the fact he was asking me to invest in spite knowing I was on a loss was pissing off.

First of all i would like to say that i am from LGC Capital, the so called scam company in this thread. Was directed here by one of the guys i was interviewing who mentioned that there was bad rep on the web.

To the guy who started this thread, Mr Snoopsy, it doesnt give you credit that you label us as a scam even though you did not complete the whole interview process. You went thru the first round, and were contacted to have a second interview which was also the same time 'you smelt something fishy'. If you have that good a nose you should have joined the police K9 unit perhaps.

Anyways let me shed some light on the situation overall, instead of just hammering away at Mr snoopsy.

lets start with a few guiding questions
1) if you dont have amazing grades with a bloody good finance degree, do you think you can get a job as a trader in good firms
2) if you dont have good friends who are already in the trading industry who are willing to rope you in, are your chances high that you will break into that industry

Probably not

but lets say you are really really determined to become a trader, like i was, without the luxury of the perks of the previous 2 questions, then what. the question has to be what the f**k do i gotta do to get in.

if you are older than 25 with no trading experience whatsoever, and want to become a junior trader or just an analyst at top trading firms/banks, perhaps citi, BOA, Vitol, merrill, forget it. its easier to become a serial murderer and not get caught i guarantee u.

All the big boys like them young, because they come young and dumb and HUNGRY. highly trainable and willing to slog it out and grind it out. Trader burnout rates at top firms are 3-5 years generally fyi.

Anyways long story short, i applied for every small and mid tier trading house, prop trading firm out there. but with no experience,no one was willing to give me a shot. until LGC came along. when thru 3 round of interviews, not 1 mr snoopsy, got real professional training and learnt to trade from experienced traders. sure i had to put out some money to start, but that is for the training and admin fees, and also to ensure that you have skin in the game. dumb cunts will blow the account when they feel its not their money anyways, and we bear the risk when you trade with our money so we gotta protect ourselves.

in a nutshell, who out there is willing to train you to become a trader for free? most, and i mean most singaporeans lack balls lets face it, and want to be in their comfort zone but earn big bucks, keep dreaming my friend. no one is going to offer you a 10k job without you working for it.

end of the day, once i was trained and making money, i now have the option to jump ship to bigger trading firms with my track record, but have chosen to stay with LGC because they gave me that opportunity to change my life and im grateful for it.

So you wankers who have not gone thru the process and wanna flame LGC, i thank you for it, because there will always be those who say the high grapes are the most sour.

for those aspiring traders, my advise is to trade on your own and if you can establish a good 6 month record then try to apply for a trading firm. im happy to help just leave a msg and i'll check when im free as a way of paying it forward. i know how hard it is to break into the industry, but keep the faith and never give up, thats a true trader's edge.

Big words from someone anonymous. While we are all blowing smoke, I'm a big shot tader that thinks your scam company is a scam. Lol.

lols did u start as a big shot?
and no big shot says they are a big shot bro...
besides i never promised that aspiring traders will make it big, it all depends on their attitude and aptitude. all i said was that i would be happy to help if people needed any to pay it forward which is more than what ure doing.

leave your email or hp and ill leave mine no probs mate :)

All you have done so far is drive people with an asshole complex to your employer. If you took some time to think about it, probably best to have just shut up.

hi bro, I'm interested in joining your co, you can contact me at [email protected] .

As for the rest shooting him down, at least he is trying to do some good, which is more than I can say for most of the people here.

Are you a cop trying to bait him?

Mai talk cock. Give me your bloomberg ID, Limbei chat with you now.

To: Mr "Mai talk cock. Give me your bloomberg ID, Limbei chat with you now."
 

You must be really really smart if you think i'm going to use work affiliated contacts just to have an ego sparring match with you.

Im sorry to disappoint, but i left my ego back in uni so you are going to have to find a hooker to boost that for your big shot cheap thrill. Work must be wonderful if you can spend so much time here wanting to chat with us small fries.

Anyways my offer still stands, leave your contacts ill leave mine :)

To all others, Happy 2016 and i wish you good fortune in their trades.

LGC Capital Advisors - Fake or Real???
 

Having scanned the above post briefly...Can someone please tell me if LGC Capital Advisors are real and genuine or fake and scammers?

Cheers

Very simple lah. Let's just get down to the payment scheme.

You get $0 monthly salary.
You pay $3,000 up front.

Case 1: You reach $x percentage return on your $100,000, what is the result?
Case 2: You don't reach $x percentage return on your $100,000, what is the result?

Answers to Case 1 and 2 will tell you whether the company is legit or not. For example, you indeed reach $x percentage return, they still keep your $3,000, you get $0 but must continue until end of the year. Then company is not legit. Lol.

Seen a job post regarding LGC advisors. Anyone can give more details on how it works?

Tmr go in you tell me who is #5 on MVP <go> lor

LGC Capital advisors
 

Hello,


Has anyone have an update on LGC capital advisors? it seems their website has been hacked.


.lgccapadvisors.com