I got a candidate selection invite to interview and test to be a trader with Vortex Capital. It’s a boutique investment firm in Toronto. The funny thing is that they ask for $2500 US for software, training fees, and LOSSES. They say they allow their traders a daily loss of $250. The email I got says “Moreover, all our traders are required to provide a minimum capital contribution of US$2,500 which would cover software fees (US$200/m) + entitlements in advance as well as any incurred losses.” What’s going on here? Anyone know what this is about?
I’m not sure what’s going on the bold italics, analyst forum formatting error maybe?
I got the same email. Personally, I wouldn’t do it because I am looking for a full time asset management type of position. Whereas this is purely trading and basically you get like 60-75% of the profits you make and 100% of the losses without any salary or additional compensation. They are essentially selling you their software or training for the initial $2500 and then taking a cut from your profits.
I noticed this too… It looks like text between dollar signs gets read as italic. I bought something for between $5 and $10 of greenback money. Asterisks probably do bold: to *boldly go* where no man has gone before. I noticed the formatting and image inserting tools arent there anymore. Clearly, some changes are happening under the hood.
Sounds sketchy to me… scam
Hmm. I see, so rahkab, would you do it otherwise? and woodywoodford, yeah, it seems a little sketchy when an employer asks you to pay money
^^^ Don’t consider the 2500 as a fee, that’s your risk capital. You lose that and you’re out. The question then becomes do you think you have a trading strategy with good enough risk adjusted returns that you can provide a living for yourself and not have a drawdown > 2500. I’m strongly guessing no, simply because pretty much no one does. Yes, you can start small and grow your capital base, but given such a low initial dd limit, that will take time. Your chances of success here are extremely slim, imo, I’d look elsewhere. HTH.
Seriously wtf is up with this italic/bold nonsense?! Just changed my post, weird.
That makes sense, thanks.
And yeah, the italic shit is fucked up