Swift Trade Reviews

Updated April 23, 2015
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3.3
8 Reviews
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Peter Beck
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Employee Reviews

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  1. Trader

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Swift Trade full-time

    Pros

    Its a great way to learn about the markets, how the level 2 works, etc. They cover losses, but its hard to start making money. They have good closing strategies, which when they work can make you tons of money at a time. Good atmosphere, catered lunch and the Manager (Shawn) is really a great guy, very nice and very helpful, smart and easy to approach.

    Cons

    There is no salary. Its a 43% commission structure, and you dont get paid until you "graduate," which is making $2000 in a month. But that covers your losses as well. The stop loss is so tight ($50) that its very hard to put on a decent trade with a proper stop loss. The strategy is very outdated (rebate trading on the TSX).

  2. Equity Trader

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Equity Trader in Mississauga, ON (Canada)
    Former Employee - Equity Trader in Mississauga, ON (Canada)

    I worked at Swift Trade full-time (Less than a year)

    Recommends
    Neutral Outlook
    No opinion of CEO
    Recommends
    Neutral Outlook
    No opinion of CEO

    Pros

    Each day was different
    Trading was fast during morning and evening hours. During lunch time it was sometimes difficult to make trades
    It was a great learning experience for me as I just completed my Bachelor Degree in Finance

    Cons

    it was all commission and so it was difficult for a new trader like me to start making money at the start

    Advice to Management

    give a base pay

  3. Very great experience and learning process about the stock markets.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Swift Trade

    Doesn't Recommend
    Doesn't Recommend

    Pros

    Great office atmosphere
    Hands-on learning
    Great pay if successful

    Cons

    Training is not paid for
    Not enough support for the number of offices

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  5. Fair

    Former Employee - Trader in Toronto, ON (Canada)
    Former Employee - Trader in Toronto, ON (Canada)

    I worked at Swift Trade full-time (More than 5 years)

    Recommends
    Neutral Outlook
    Recommends
    Neutral Outlook

    Pros

    Relaxing and friendly environment where I can meet and work with fellow traders. The risk management system keeps the trader disciplined.

    Cons

    Relatively low payout rate, not state of the art execution system. It is commission based. The training program is not too useful. The rate of becoming a successful day trader is fairly low.

  6. Great learning experience for those who want to trade

    • Comp & Benefits
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Equity Trader
    Former Employee - Equity Trader

    I worked at Swift Trade

    Recommends
    Recommends

    Pros

    If you want to learn about the markets and day trading

    Cons

    Compensation is purely commission based-but it makes sense.

  7. ok

    • Comp & Benefits
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Trader
    Current Employee - Trader

    I have been working at Swift Trade

    Pros

    if u really want to learn, there will be someone to talk to. but it is hard to maintain a long term sucess

    Cons

    timing is everything, and it is very hard to be long term sucessful. the stop loss system sometimes can be a pain

  8. Overall its a great company to begin your career with as long as you are aware of the pros and cons

    • Comp & Benefits
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Trader (HQ) in Toronto, ON (Canada)
    Former Employee - Trader (HQ) in Toronto, ON (Canada)

    I worked at Swift Trade

    Pros

    Zero Capital Required
    Losses are covered by Swift-trade
    Relaxed Atmosphere
    Good Setup to learn and make losses (and learn from those mistakes of course)

    Cons

    Not-so-great Training
    Business Model is for the most part set to help the company more than the trader
    Not-so-great Reviews and Feedback from the Management
    Not as lucrative for a seasoned trader

    Advice to Management

    Instead of bringing in candidates that will result in a higher attrition and a not-so-serious about the business attitude, you should get people who will add towards the culture of the company and profession rather than be a turn-off for everyone else. Over and above that dont you think feedback from successful traders would be better than having a crew of failed traders to train and monitor the current traders?

  9. Avoid this place

    • Comp & Benefits
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Equity Trader
    Former Employee - Equity Trader

    I worked at Swift Trade

    Doesn't Recommend
    Doesn't Recommend

    Pros

    To learn how to trade stock using direct access. Compare to many day trading firms, this firm pays commission to its contract workers on time and has been in business for more than a few years. All other day trading firms are unreliable and can go out of business anytime.

    Cons

    Once you know the mechanics of trading, go elsewhere. The company has no whatsoever to offer to its so called contract workers. Just learn as much as you can and quit for your own good. If you want to know anything about its company management and its ethics, just google it.

    Advice to Management

    Judging by the many closures of its many Canadian operations/ franchise, my point of view can be justified.

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