Monday, February 25, 2013

Job Offer Trading For a Living

I got a job offer to trade for a living with Mavrick Trading.  Mavrick Trading is a Proprietary or Prop trading firm.   I had my interview last Thursday and they let me know tonight, Monday, that I could trade with them.  I would work from home.  There is a two month training period and Demo period where I have to demonstrate what I can do for them.  Then I would start with $25K and start working my way up.  I would have to sign the following Member Agreement.

What’s making me question them a bit, is that they make you pay $5K upfront for training and then a $199/month desk fee, then another $5K as risk capital.  I would keep 70-75% of my profits and they would take the rest.   Trading is thru Interactive Brokers and commissions look to be the lowest in the industry.

At the end. I decided to decline the offer.  It is a job where you have to pay them to work and they take a 30% cut of your profits and you still have to pay income tax on that.  So you would only net 50%.  I have my own capital and better off just risking my only money and keeping 100% of the profits.

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