RBC Professional Trader Group
Is RBC Professional Trader Group legit? I've looked into it and apparently they sponsor your series 7 and it sounds like they just let you loose. It's no salary, no contribution, and you're paid with a percentage of PnL. It all seems sort of suspect. I don't see how you'd succeed without mentoring especially in an environment like this.
if you want to talk to them, I can arrange it.
Hi zderic. Are you able to arrange anything for a trader living in Canada though I am willing and able to move to NYC? I've seen an ad for their "White Plains, NY" location, but am wondering if they're hiring at their head quarters (across from the WTC memorial)? Just feels more professional to work at that location... Just blocks from the NYMEX, etc... =p
I know they have a couple of prop shops in the ny metro area. anyone know what is the deal?
i spent a day with the equity prop traders in nyc. i'm not sure what the group's name was but it sounds like the same thing. i thought it looked pretty bad, the kind of day-trading middle-aged dads and college kids do from home. if your coming out of college i would definitely go somewhere where you learn a better skill set. then again, i'm still in college without much work experience, so take this post with that in mind.
Emporer, if you are talking about the RBC PROP DESK of the investment bank you dont know what your talking about. I for know a fact that they dont do much daytrading. Scaling in and out of positions yes... but hardly daytrading like a daytrading shop. Stop giving false information.
"during a day of internships"...
wow, so you basically ran the desk. If I have any questions about my positions I will come to you directly. Would you be cool with that?
ha, i didn't just run the desks, i spent a day there shadowing someone. i'm not sure what the desk was, and i said so in my post, but they certainly did not seem to be scaling in and out of positions. the guy i was with was just betting on a stock for a few minutes or hours, and he said his salary was purely a percentage of profits. as for me giving out false information, i qualified my every statement because i realize that i'm not the best source.
Emperor - that pretty much confirms what I thought. Thanks.
Trade4size - The group being discussed is NOT the prop desk. The similar names are probably intentionally confusing. If you want to read more than go here:
http://www.rbcgps.com/index.php?option=com_content&task=view&id=52&Item…
RBC Prop Group is different than say the "equity/fixed income prop desk at RBC". The RBC Prop Trader group is a daytrading esque platform that gives various prop/daytraders capital backed by RBC. no clue on whether money needs to be put down or not but i believe the leverage is significant and you can trade many asset classes. From what I know, it seems to be a more senior kind of place for prop/daytraders who have left other shops and just want to trade on their own, it is a fairly independent place. Dont know if they hire massive classes of kids as the other more well known prop shops in the business do.
Not quite...
Their setup is really similar to FNYS in the sense that their traders are mainly former BB traders. Like FNYS, you are required to day trade a relatively small book until you prove yourself, and you're then given a multi-million dollar book to trade with the option of taking overnight directional risk (confirmed by speaking to a former RBC Pro Trading trader who worked as a sales-trader at RBC before that). Unlike FNYS, there is no training program nor any salary for the first two years. There's hardly any difference between RBC's Pro Trading Group and FNYS after the 2nd year of FNYS's training program. Of course, this only holds true for an equities traders.
To clarify, since these guys require 0 capital up front, let's say I lose $10k on day one, do they just can me and eat the loss or does that $10k come out of my bank account?
Accusamus quia et dignissimos dolores nobis molestiae iusto. Voluptatibus pariatur ipsum consequatur. Quo iste asperiores aliquam modi.
Qui expedita consectetur consequatur architecto libero tempore. Distinctio quidem aliquid est maiores quidem. Earum et esse ut impedit. Aut sit voluptas occaecati aut cumque cumque culpa. Repellendus voluptatibus totam qui libero cumque natus et. Id tempora nihil deserunt nobis minus voluptate.
Et ad molestiae corrupti et aliquid porro. Cupiditate modi vel rem at temporibus. Aut nemo aut eligendi aliquid ut sed dolorem. Eum sed laudantium itaque perspiciatis possimus labore ut. Unde quis laudantium ut et sequi omnis excepturi.
Itaque vero repellendus quo ipsa. Praesentium tempore quia repellat asperiores a. Hic veniam aut et non. Unde voluptatem ut esse nam magnam reiciendis animi. Ut sapiente enim facere voluptatum. Possimus non maxime ipsa quo doloremque. Ducimus at qui vel culpa quia rerum voluptatibus.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...