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List of Forex Trading Firms

  • #1
  • First Post: Aug 9, 2010 2:40pm Aug 9, 2010 2:40pm
Hello everyone. I recently finished the development of a system with an estimated average yield of 10-20% a month and would love to work for a forex trading firm.

At the moment, I only know a few firms involved in forex. Can I kindly ask for a list of forex firms in the U.S.? It would be very much appreciated!
  • #2
  • Edited 3:06pm Aug 9, 2010 2:55pm | Edited 3:06pm
The "real" deals (Forex trading for super-men)
Goldman Sachs, Citigroup?

or "prop" shop, where you pay $5000 for a training course,
then they "hire" you....
then they let you trade perhaps $25000 on margin for a couple
months until you lose $2500.

Then they fire you.
Prop shop +$2500, you -$5000.
I believe it is very difficult to find any jobs in the Financial arena in the U.S at this moment UNLESS you are a Broker (aka Financial Advisor/Rep).
If you have a good customer "book" or can generate commissions then you can probably get a job anywhere you like.

As for your 10%-20% per month, that is quite extraordinary.
You could trade your system yourself and compound profits monthly.

Google "proprietary forex trading firms".
take a look at perhaps the 5th listing.
  • #3
  • Aug 9, 2010 3:15pm Aug 9, 2010 3:15pm
hi saxytrader, you might want to check out SMB Capital and do as Intu suggested.

However, let me pull out a post or two from my archives garnered over the years :

Quote
Proprietary Trading Firms, Arcades, and Scams

I've received several emails lately in which traders asked me about joining proprietary firms that offer training for very high fees (many thousands of dollars/euros). The traders want to know, "Are these firms legitimate?"

I have very sincere doubts.

A proprietary trading firm is one in which you trade the capital of the firm in exchange for a split of profits. An arcade is a firm in which you trade...

Quote
Steps Toward Joining a Proprietary Trading Firm

A reader and active trader recently emailed me, requesting my assistance in helping him land a position with a proprietary trading firm.

He didn't attempt to convince me that he had a passion for trading, that trading was his dream, that he was a hard worker, or anything of the sort.

Rather, he enclosed month after month's worth of account statements. He lifted the skirt and showed me his trading.

That,...


I hope that will help you. And have you calculated your volatility adjusted return, your sharpe ratio or something that gives an idea of the level of risk in your trades ? What does your equity curve looks like ?
  • #4
  • Aug 9, 2010 3:16pm Aug 9, 2010 3:16pm
Quoting saxytrader
Hello everyone. I recently finished the development of a system with an estimated average yield of 10-20% a month and would love to work for a forex trading firm.

At the moment, I only know a few firms involved in forex. Can I kindly ask for a list of forex firms in the U.S.? It would be very much appreciated!


if you can do 10-20% per mo, why dont you just trade your own account? If you open an account with 1k, and you can do 25% for 24 consecutive months you'll be making just over 42k per mo after the 24th mo, having grown your account to 211k......

so if you can do those returns, why would you give part of your income to someone else at a prop firm?
  • #5
  • Aug 9, 2010 3:21pm Aug 9, 2010 3:21pm
Quoting Intensity
hi saxytrader, you might want to check out SMB Capital and do as Intu suggested.

However, let me pull out a post or two from my archives garnered over the years :




SMB is equities, not fx.......SMB is also very tough to get into.
  • #6
  • Aug 9, 2010 3:22pm Aug 9, 2010 3:22pm
Quoting mfoste1
so if you can do those returns, why would you give part of your income to someone else at a prop firm?
It is likely that he doesn't plan on staying at the firm. Or he might want to make the experience more social.



Quoting mfoste1
SMB is equities, not fx.......
Sorry. I thought that because one of their main traders touched FX they would all do it too. It wouldn't hurt to ask them.
  • #7
  • Aug 9, 2010 3:27pm Aug 9, 2010 3:27pm
Quoting Intensity
It is likely that he doesn't plan on staying at the firm. Or he might want to make the experience more social.




Sorry. I thought that because one of their main traders touched FX they would all do it too. It wouldn't hurt to ask them.

they dont trade fx.......if he doesnt plan on staying with a firm, then why even bother getting started?
  • #8
  • Aug 9, 2010 3:55pm Aug 9, 2010 3:55pm
Quoting mfoste1
they dont trade fx.......if he doesnt plan on staying with a firm, then why even bother getting started?
Money.
(theory with theoretical amounts) If you make 20% per month for 6 months, retain 20% of the gain with a trading stack 50 times larger than what you had, you come out ahead and can use the money to fund your own account. what's more you've advanced faster than with just your own money and you might even have built some contacts in the industry. Let's not forget that you might also have learnt some skills like formal risk management.
  • #9
  • Aug 9, 2010 4:03pm Aug 9, 2010 4:03pm
Quoting Intensity
Money.
(theory with theoretical amounts) If you make 20% per month for 6 months, retain 20% of the gain with a trading stack 50 times larger than what you had, you come out ahead and can use the money to fund your own account. what's more you've advanced faster than with just your own money and you might even have built some contacts in the industry. Let's not forget that you might also have learnt some skills like formal risk management.

you make some good points intensity....contacts, ill give you that. Lets not forget living expenses(chi or NY expensive), trading expenses, commisions, desk fee etc..... If your trading their account, chances are your capital is in there as well, so basically trading a personal account is out of the question. What if you dont do well? you get canned, no second chances, its like the army---there always someone behind you to take your place....and I cant see how they would give you their capital to trade if you havent already displayed formal risk management techniques
  • #10
  • Aug 9, 2010 4:41pm Aug 9, 2010 4:41pm
Quoting saxytrader
Hello everyone. I recently finished the development of a system with an estimated average yield of 10-20% a month and would love to work for a forex trading firm.

At the moment, I only know a few firms involved in forex. Can I kindly ask for a list of forex firms in the U.S.? It would be very much appreciated!
So you've developed your own system and you want to go work for a firm? Why?

Do you want to use your system as a door-opener and freebie give-away to get through the door to a job as quant trader/analyst?

If not, you don't need an employer but investors, and what you should be looking for is an incubator fund that provides the infra-structure for setting up your own fund and gives you exposure to investors.
  • #11
  • Aug 9, 2010 4:48pm Aug 9, 2010 4:48pm
Quoting mfoste1
you make some good points intensity....contacts, ill give you that. Lets not forget living expenses(chi or NY expensive), trading expenses, commisions, desk fee etc..... If your trading their account, chances are your capital is in there as well, so basically trading a personal account is out of the question. What if you dont do well? you get canned, no second chances, its like the army---there always someone behind you to take your place....and I cant see how they would give you their capital to trade if you havent already displayed formal risk...
Well, basic risk management like risk per trade can be done quite easily but most sophisticated methods that would require real analysis aren't done by traders most of the time. Just putting equity and trades into excel and calculating different ratios isn't done by I'd say 98% of the traders. And there are also some specialized tools that certainly haven't been tested by stand-alone traders. They don't need it at their scale. But they do help you refine your edge.
  • #12
  • Aug 9, 2010 5:00pm Aug 9, 2010 5:00pm
As Intensity perfectly puts it, it's all about money. A firm plays a multiplier effect on a trader's financial growth. For instance, if I was fortunate to manage $50k, I would make a ballpark figure of $7500 a month. (I am using 15% a month as an average and I am also aware of the firm's share.)

Sure, there is the option of trading solo, but I disagree with mfoste1's calculations. If I start with $1k, average 15% a month and reinvest each month's earnings up to 24 months, the total at the end would only be $24,891. It short, it would take years upon years compared to working for a firm.
  • #13
  • Aug 9, 2010 5:16pm Aug 9, 2010 5:16pm
I recently set up a facebook page where all my friends can monitor my trades. After proving, I will run a small hedge fund.

Something to consider.
  • #14
  • Aug 9, 2010 5:22pm Aug 9, 2010 5:22pm
Just for clarification, with

- 1k over 2 years (1000*1.15^24 = $28 625.18)
- 1k over 5 years (1000*1.15^60 = $4 383 998.75)
- 2.5k over 3 years (2500*1.15^36 = $382 879.63)
- 5k over 1 year (5000*1.15^12 = $26 751.25)
- 5k over 2 years (5000*1.15^24 = $143 125.88)

Basically if u can sum up 5k, within 1 year you're making over 4k a month. The following year you'll be making over 100k. However, 15% monthly means quintupling you're account in compound interest yearly which seems a bit high.
  • #15
  • Aug 9, 2010 5:50pm Aug 9, 2010 5:50pm
Quoting saxytrader
As Intensity perfectly puts it, it's all about money. A firm plays a multiplier effect on a trader's financial growth. For instance, if I was fortunate to manage $50k, I would make a ballpark figure of $7500 a month. (I am using 15% a month as an average and I am also aware of the firm's share.)

Sure, there is the option of trading solo, but I disagree with mfoste1's calculations. If I start with $1k, average 15% a month and reinvest each month's earnings up to 24 months, the total at the end would only be $24,891. It short, it would...
my calculations are correct, re-read my post, i think you're forgetting the power of compounding interest!..........anyways, youre only thinking of best case scenario, what about worst case scenario? How much can you loose? Can you afford to loose that much? How will you be able to live if you lose money? Do you have cushion capital?
  • #16
  • Aug 9, 2010 6:05pm Aug 9, 2010 6:05pm
I am referring to 15% of whatever capital I am holding. If you start with $1000 and get 15% for the month, that is $150 for the month. You then reinvest that $150 back to the initial capital of $1k and get 15% for the next month (which is $1322.5) If you want the complete breakdown of it for 24 months, here it is:

1000
1150
1322.5
1520.875
1749.006
2011.357
2313.061
2660.02
3059.021
3517.874
4045.555
4652.388
5359.246
6152.783
7075.7
8137.055
9357.613
10761.25
12375.44
14231.76
16366.52
18821.5
21644.73
24891.11

What perfect scenario? Do you know that my yield is understated a bit to provide some leeway? After all, if you have gotten the education and training for trading, risk management is one of the key topics that is mentioned and observed.
  • #17
  • Aug 9, 2010 6:06pm Aug 9, 2010 6:06pm
Quoting saxytrader
I recently finished the development of a system with an estimated average yield of 10-20% a month...
is a much weaker presentation to a prospective employer than

I have just completed 6 months (or 1 year) of trading my personally developed system which has yielded 10% per month on average with very low drawdown.
{followed with well documented real money results of all your trades}.

Just a thought...
  • #18
  • Aug 9, 2010 6:11pm Aug 9, 2010 6:11pm
Quoting saxytrader
I am referring to 15% of whatever capital I am holding. If you start with $1000 and get 15% for the month, that is $150 for the m


so you just finished a system and you think its ready to do 15% a month and be consecutive?....good luck

how long have you backtested it? do you have any results that you are willing to share with us? Are you willing to explain your strategy?
  • #19
  • Aug 9, 2010 6:17pm Aug 9, 2010 6:17pm
I have done backtesting for a year and have a demo account to prove it's consistency.

As for sharing the system, I am just here to look for a list of fx trading firms to work with. If no one has any real suggestions, I'll just seal my lips and look elsewhere.
  • #20
  • Aug 9, 2010 6:23pm Aug 9, 2010 6:23pm
Quoting saxytrader
I have done backtesting for a year and have a demo account to prove it's consistency.

As for sharing the system, I am just here to look for a list of fx trading firms to work with. If no one has any real suggestions, I'll just seal my lips and look elsewhere.

http://www.tradersnarrative.com/list...firms-735.html

http://www.traderslog.com/proprietarytradingfirms/

here you go....you'll have to sift through them

would you be willing to share your backtesting and demo results?
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