Simplex Investments

  www.simplexinvestments.com
  www.simplexinvestments.com

Simplex Investments Reviews

12 Reviews
2.9
12 Reviews
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Mathew Gray
2 Ratings

Employee Reviews

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  1.  

    Cutting Edge Tech, Great Environment, Supportive Community

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Trader in Chicago, IL
    Current Employee - Trader in Chicago, IL

    I have been working at Simplex Investments full-time (more than 5 years)

    Pros

    Full IT staff in office, wonderful help desk. Top notch equipment available, and we hold weekly meetings about what other tools we could use throughout the trading day. Profit sharing, monthly performance bonuses. Daily Lunch included.

    Cons

    Just like any other company in the business: Fast paced and stressful. I come in to do as I'm expected: Make money. If you can't make money, you're not going to have a good time.

    Recommends
    Positive Outlook
    Approves of CEO
  2. 3 people found this helpful  

    Just Plain Awful

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Trader in Chicago, IL
    Former Employee - Trader in Chicago, IL

    I worked at Simplex Investments full-time (more than an year)

    Pros

    The management is cool and the developers are extremely talented and friendly. The prop software they have developed is nothing but the best.

    ONLY go here if you back your own account.

    Cons

    Sadly, that's where the pros stop. I spent some time here a while back and the traders who work here are a despicable bunch. I couldn't believe the amount of trash talk and obvious backstabbing that was actually allowed. They want trading ideas, but when you provide them, someone else takes your idea and claims it as their own, and gives you no credit whatsoever. They also love to leave their email chat up just so you can see them talk about you behind their back. A fine way to develop trust between coworkers.

    There's NO upward mobility and the turnover rate is astounding. Look at prior reviews. Every graduating class they bring in new traders just to let them go (conveniently right before bonus time) as the next wave of college grads come in. You think that many reviews could be wrong? They aren't. The pay is also insulting; you could easily find another trading firm that will ON AVERAGE pay you double. Be wise and look elsewhere.

    Oh, and forget about their business outlook. Once they can't get any more speed, this place is toast.

    No matter how pretty you wrap your lump of coal under your Xmas tree, it's still a lump of coal.

    Advice to ManagementAdvice

    The training program is worse than awful, it's nonexistent. I was put with some incompetent fool who had no social skills. If this firm wants to be successful, hire some senior traders who aren't narcissistic and who actually have trading experience, or better yet, TRAIN your new employees.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  3.  

    A trader's perspective

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Trader in Chicago, IL
    Current Employee - Senior Trader in Chicago, IL

    I have been working at Simplex Investments full-time (more than 5 years)

    Pros

    Fast paced, exciting work environment. Talented and dedicated employees (in all areas: trading, development, support). The company is committed to attaining excellence in everything it does. Employees share in the firms success and are motivated to contribute to the growth of the firm. Very strong company culture and great benefits.

    Cons

    Like any job in the trading industry it can be stressful and management expects high levels of contribution and dedication from employees. However, employees maintain work/life balance.

    Recommends
    Positive Outlook
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  5. 1 person found this helpful  

    Terrible

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Trader in Chicago, IL
    Former Employee - Trader in Chicago, IL

    I worked at Simplex Investments full-time (less than an year)

    Pros

    You get to learn trading. They have a basic training program that walks you through the fundamentals of derivatives trading. Some (emphasis on some) staff are helpful.

    Cons

    Terrible salary. No upward mobility. Management has temper tantrums all the time. Extremely stressful work environment. Low employee morale. They also lied to me about the compensation structure during my interview.

    Advice to ManagementAdvice

    Treat employees with more respect, pay traders what they are worth.

    Doesn't Recommend
    Neutral Outlook
  6. 1 person found this helpful  

    I learned quickly what there was to learn and realized it was the end of the road after 2 months

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Options Trader in Chicago, IL
    Former Employee - Options Trader in Chicago, IL

    I worked at Simplex Investments

    Pros

    You learn the basics of options trading and get hands on experience. Young and less bureaucratic work environment. Teaches you that trading retail options is usually a bad idea.

    Cons

    Low starting salary without benefits and no contract. They give a bonus to one person and it was a gift certificate for 100 dollars. There is no future in working here as the options are moving to penny spread.

    Advice to ManagementAdvice

    Since the margins are so low and it is not economical to pay options traders sufficiently maybe it's better to for go the opportunity and not pillage naive recent graduates.

    Doesn't Recommend
  7.  

    Though it was short, it was a great learning experience

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Software Developer in Chicago, IL
    Former Employee - Software Developer in Chicago, IL

    I worked at Simplex Investments

    Pros

    Fast Paced, excellent culture, free lunch and drinks, got to learn a lot.

    Cons

    Small company that has just started to grow.

  8. 1 person found this helpful  

    If you've got talent...this is NOT the place for you!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Anonymous Employee in Chicago, IL
    Former Employee - Anonymous Employee in Chicago, IL

    I worked at Simplex Investments

    Pros

    Catered lunch and decent health benefits.

    Cons

    This company has a reputation for hire and fire. People are hired with very high expectations, placed under an extreme degree of pressure, and are then fired within months. If you are lucky enough to make it to bonus season, well, don't expect to be wowed. If you are unlucky enough to be in the crossfire when things are going wrong you WILL be screamed at (and we're talking borderline abusive). There are MANY MANY trading firms in the Chicago area. If you've got talent you should really do your homework and talk to firms other than Simplex. Not only will you be compensated better, but, you will be happier in an environment that is more respectful of it's employees.

    Advice to ManagementAdvice

    It's really common sense that people do not like to work under the kind of pressure that is common practice at Simplex. Treat people with respect. Pay people what their experience is worth. Stop the whole hire and fire practice!

    Doesn't Recommend
  9. 1 person found this helpful  

    Horrible

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Software Developer in Chicago, IL
    Former Employee - Software Developer in Chicago, IL

    I worked at Simplex Investments

    Pros

    Good pay, Good location, Good benefits

    Cons

    1)They apply for your H1-B only after u have worked for 3 months. Basically u have a chance of getting fired between the 3 mnths
    2) Training is hard
    3) THE Biggest
    I joined the company right after i graduated from college, campus hire and i was laid off with the rest of all the new hires in exactly 4 weeks. 4 WEEKS. No prior notice, no benefits given , NOTHING. Called us to the conference table (18 of us) and just told us in 5 min , u guys r laid off. Please leave .
     Even if u dont have another job, DO NOT JOIN

    Advice to ManagementAdvice

    Please do not hire so many ppl when u plan to lay them off in a month.

    Doesn't Recommend
  10. 1 person found this helpful  

    Most stressful experience ever

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Anonymous Employee in Chicago, IL
    Former Employee - Anonymous Employee in Chicago, IL

    I worked at Simplex Investments

    Pros

    Salary was ok, as well as the benefits.

    Cons

    Unstable working environment
    No room for progress
    High turnover rate

    Advice to ManagementAdvice

    Give more support to new employees
    Better management of workload, projects and employees

    Doesn't Recommend
  11. 1 person found this helpful  

    Look somewhere else - much better trading firm opportunities in Chicago

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Software Engineer in Chicago, IL
    Former Employee - Software Engineer in Chicago, IL

    I worked at Simplex Investments

    Pros

    Catered Lunch
    Snacks and drinks
    Hard working co-workers

    Cons

    Having worked at other trading companies in the area, I would rank Simplex in the bottom quartile of trading companies in the area. Most good companies in the Chicago area cater lunch.

    Unprofessional management (you can be screamed at almost anytime for any reason), bad compensation structure, practically no career advancement opportunities.

    If you are serious about learning (technology/trading) and being compensated for your contributions - look else where. You will be better off almost anywhere else.

    Advice to ManagementAdvice

    Create a more professional work environment or, get used to employees resigning in the first 2 months.

    Doesn't Recommend

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