I am not looking to start such a business. I am applying for trading jobs at several wall street firms, however they require a down payment, for moral hazard. Basically if a trader has no skin in the game, they have all the incentive to leverage heavily and take enormous risk on futures contracts and derivatives, resulting in financial disaster.

Basically I am asking if these are legitimate, or if anyone has personal experience on the matter. More pertinent forums are full of the usual yes and no men. I've heard that the turnover rate in these offices are high, eight out of ten people will blow it and leave the company.


Five for forty grand sounds like a sweet deal to be honest, and as far as I understand it, my personal liability cannot exceed five grand. They would pay for training. I actually completely understand the theory and methodology behind such an approach, because I studied it in school. However, I cannot raise such funds on my own. Therefore I must be able to convince friends and family that this is a legitimate business, as well as find out for myself. It's either that or take a loan.