Tower Hill Trading Reviews | Glassdoor

Tower Hill Trading Reviews

Updated January 25, 2017
41 reviews

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3.4
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41 Employee Reviews

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Pros
Cons
  • The people training new hires did not know how to trade, the firm was not making money (in 6 reviews)

  • 2K buying power, have to work up a very long ladder to get any significant (in 5 reviews)

More Pros and Cons

  1. "Every Chance To Succeed"

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

    I have been working at Tower Hill Trading (More than a year)

    Pros

    They give you a chance to prove yourself and make money as a day trader in the stock market. If you don't have money to trade; this is a path to develop and succeed as a trader. Or to at least gain more experience and understanding in trading.

    For me, working at Tower Hill Trading, has proved a means to make a career in a very difficult career. They have proved me a chance to develop and grow as a trader. Developing as a trader takes hours. They will work with you.

    Cons

    You start with very tight risk parameters until you prove yourself. After which, your risk manager will double your risk exposure & capital to trade. It takes a while to get to a point to where you can make a living, but possibility to make a lot of money is there.

    Advice to Management

    I can't think of anything at the moment. I think they do a good job at maintaining a professional working environment.


  2. "Working at THT"

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

    Pros

    Great management team, flexible work environment, emphasis on becoming a better trader

    Cons

    commute can be long if you don't live in chicago

    Advice to Management

    more structured follow-up training


  3. "trader"

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

    Pros

    flexible, if you work hard, you'll get paid. If you don't, so nothing gain.

    Cons

    since it is commission based, you need to work hard to get paid


  4. Helpful (2)

    "Equities Trader"

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

    I worked at Tower Hill Trading full-time (More than a year)

    Pros

    You get to learn the markets inside out in live action with real risk. If you live and breath the markets, this is fun, and can be full of challenges.

    Cons

    Tight limits, low ability to make financial gains in the beginning but if you grind it out and put up consistently positive winning days, you have a good chance at being a trader.

    Advice to Management

    Loosen up the share count to entice fellow traders and add red bull to that vending machine.


  5. "Proprietary Equity Trading Program"

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

    I have been working at Tower Hill Trading full-time (Less than a year)

    Pros

    -Complete autonomy in decision making
    -No capital contributions
    -Good earnings split (80%-20%)
    -Fair Risk Compliance Officer

    Cons

    -Complete independence, "throw darts at the wall and see what sticks" mentality
    -Hard to progress quickly
    -No Base Salary or stipend

    Advice to Management

    Perhaps more consistent checkups for new trainees, more strategy sessions
    -More office cohesiveness and group activities


  6. "Fair opportunity"

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

    I have been working at Tower Hill Trading full-time (Less than a year)

    Pros

    Schedule is extremely flexible. The training is free and pretty decent for a 20 hour training course. You don't have to risk your own money, they will put up their money for you to trade and if you do well, they will allow you to manage more.

    Cons

    No pay and you have to buy your own health insurance. All pay is given through commissions.


  7. "Do not work here"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Chicago, IL
    Former Employee - Anonymous Employee in Chicago, IL
    Doesn't Recommend
    Neutral Outlook

    I worked at Tower Hill Trading full-time (More than a year)

    Pros

    If you are an already proven and experienced trader you might flourish. This is not a place to start or gain experience.
    "Free coffee, and Tea"
    Good location

    Cons

    No mentor-ship
    NO SALARY
    No benefits
    Tight leash
    Management is rude
    They hire anyone, no screening process

    Advice to Management

    pay your damn workers

    Don't treat your workers like cash cows. Develop your traders instead of just hoping they have a proven system.


  8. Helpful (2)

    "If you are just starting out as a trader, you would like it here"

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

    I have been working at Tower Hill Trading full-time (Less than a year)

    Pros

    I have been with other prop firms that make you get your licence, pay for training, and fund your own account. As trading is hard as it is, it is even harder to do all of these things and support yourself for everyday life. Although, there is no base salary, you do not have to foot the bill for any of the above expences, which can be as high as 9k just to get started. This, was hugh for me. If you are a trade or want to become one, NOT JUST SOME GUY LOOKING FOR A JOB, this will make it easyier for you to become a full time trade.

    Cons

    There is not base pay, and you will need to trade odd lots for a while to with a bp of $2000 before you move up. This makes it longer to start making money.

    Advice to Management

    The ramp up period is a little fluid. Although I get each trader advances differently, it is important to make sure we have a goal to look forward to. At the very least we can just define the teirs.


  9. Helpful (5)

    "Love the freedom and opportunity given to me. The sky is the limit"

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

    I have been working at Tower Hill Trading full-time (More than a year)

    Pros

    Excellent trading software. Traders are free to learn and trade their own style. There is zero cost to you as a new trader. You pay zero commissions and platform fees until you become profitable. There are many 6 figure traders in the office and you are given the opportunity to become one, simple as that. Very little risk to you when you start, so you do not go in the hole a ton of money. Once you start improving its easy to make a comeback in your profit and loss

    Cons

    There really are no cons. You make no money for 1-2 years minimum but that isnt a con because you already should expect that. DO NOT come to trade here if you only have a year to earn a paycheck before you have to get a real job, because it will just be a waste of time.

    The shop has an "everybody is on their own" atmosphere and I used to think that was a con. When I started I thought I would just go sit next to a guy who made 500k last year and he would be like "this is how its done young grasshopper" but thats not how its done. If you have zero trading experience you need to get a lot of trades under your belt before you even understand what the pros are doing. Everyone has their own strategy and even if one guy makes money doing one thing, you might not like the strategy.

    Advice to Management

    THT t-shirts and stuff!


  10. Helpful (1)

    "Amazing opportunity to develop a career as a Trader"

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

    I worked at Tower Hill Trading full-time (Less than a year)

    Pros

    Management is helpful and provide traders with an excellent software that allow you to learn to read the market. Great place to work, beautiful building and office in the financial district of Chicago. Professional traders manage a very interest proprietary account but if you are new, you have the chance to start trading with less money till you show consistency and become profitable too. You pay zero commissions and platform fees After a while, you will gain more confidence and discover an amazing world full of opportunities.

    Cons

    There are really no cons. You just need to know you do not become a profitable trader overnight, so, while you are on your learning curve, you will not be earning much money. But as it is mentioned, one you gain experience, the sky is your limit.


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