First of all this is a derivative trading company where if you make money you are king and if you loose money you are nobody. Basically it’s a hire and fire sort of job because of obvious reasons. This is a place to work with if actually want to learn how financial markets operate. You get to learn so many financial strategies which you would have just read in a text book someday. The complex market operations will sound very easy sometimes as you will get to know basic nuances of the financial trading each time you are trading in a trading pit. The work environment is very cool and happening as there is no complusion of formal dressing and work timings ( depends on the product you are trading). Basically they hire young and aggressive people who dare to take risk in the market in a sensible manner. Now cons: If you are thinking to join this firm make sure that you are capable enough to get a new job because trading is never considered as Job experience in other companies so even after gaining so much financial awareness you will have to start as a fresher elsewhere.
It’s hire and fire policy. You don’t to get to choose the market you want to to trade. Training should be provided on the software on which one is actually going to trade in the real time market.
If the markets are moving and you are making money this is the job which you always want to do and if the market is dull you will feel cheated and bored like anything as you will end up losing money unnecessarily due to low liquidity levels in the market.
Holidays are fixed; you have to work individually so you can take an off whenever you want; there is no office politics; you get paid for what you do; if you are making money, you are paid well; work environment is good.
There is no job security. Awkward timings because of foreign markets. No travel. No innovation. No work from home, no health insurance. No salary appraisal and you could be stuck with the same salary for years. No chances of promotion and an 8-year experienced person does the same job as a 6-month experienced person. You learn absolutely NOTHING and it makes switching from the company very tough because you have ZERO skills. Your PnL account is charged $2500 a month in the name of infrastructure costs, so basically you are paying more than what you are getting as salary. Your work experience is not counted anywhere. DO NOT waste your precious years running after money, get a job that teaches you skills, you can make money anyway.
It is dynamic, every day is a new day but you do the same work every day. You learn absolutely nothing and there are no outs because you have zero skills. Switching from here is a hell.
Working at Futures First does not feel like a job, it feels like doing your own business. There is you, your skill and your system. No office politics, no bureaucracy; just pure meritocracy.
However, the working hours are long and sometimes very stressful. Work life balance is not very great. Yet the kind of money you can make, compensates it well.