SwiftTrade

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Jan 8, 2008 4:52 pm

Does anyone know anything about this firm swifttrade.com. There is absolutely nothing about them in this forum. Maybe because they're not in the US. Not much info on the website either. 

Jan 9, 2008 3:27 pm

I did some more research on them and found out they were a day-trading firm. They are prop traders. Do you think this would be a good place to start if I'm looking to become a stockbroker/FA? Maybe just to get my feet in the door. Would firms like Merrill Lynch or Morgan Stanleylook for that on a resume?

 
Jan 9, 2008 4:19 pm

...no

Jan 9, 2008 8:34 pm

Is there a reason for that. "no" isnt very helpful.

Jan 9, 2008 11:49 pm

Starting at a firm like that will make it harder to get hired at a Major Wirehouse

Jan 10, 2008 10:39 pm

See the movie Boiler Room.

Jan 11, 2008 5:34 pm

I've seen boiler room. Its completely different. I don't understand why its not good to work at a place like this. It seems like a good experience and a good start to a stockbroker career. 

Jan 11, 2008 6:21 pm

If all you want to become is a very busy order taker, it's fine.  If you want to learn about managing someone's investment portfolio, a day-trading firm is a very shitty place to do that.  Real money-making daytraders are far more rare than you can imagine.  99 times out of 100, a good long-term strategy will run rings around a day-trader.

Jan 11, 2008 6:50 pm
dabears:

I've seen boiler room. Its completely different. I don't understand why its not good to work at a place like this. It seems like a good experience and a good start to a stockbroker career. 



Why are you asking for our opinion if you already have all the answers figured out?