I had been interested in trading for a company for some time now until I get my own account to where I need it to be before going full-time. The main problem was that most places want to pay you a small salary and have you relocate to their office. I won’t do that. I found a place (that will remain nameless for now) that will allow me to do it remotely. I have an interview with them tomorrow, and I want to make sure they’re as legit as possible.
What are some core things I should be asking them? Any real help is appreciated here.
Hold on a prop firm for FX that you dont have to pay? Where is this place would be worth checking out.
Just ask what the overhead is like when I got my first cheque the take is about 37% or something like that with a 2.5% increase every 10k you make with a cap at 45%.
They also charged me a desk fee which I found silly, but it is what it is and sometimes they will charge you a software fee. Also if your using their system you might want to ask how the profits or the losses are going to be split in case because my prop firm is notorious for going down and there are dozen of stories one I was told where a guy was trading the London Session in stocks and he had made 50k holding a 2k loss going into the London close. About 5 mins before it had closed his loss was still sitting at 2k and the system went down into the close. The firm said ok we’ll take the 48k and give you the 2k loss on your account.
Obviously I don’t know or see the person for obvious reasons this is just one of the many tales of the other senior traders and the system down time is something Ive experienced a lot.