BarroMetrics Views: Quantic Traders Challenge
This came across my desk the other day: http://www.directfx.com/en/quantic-traders-challenge/
I am always on the lookout for info that will assist my students who are looking to become fund managers. So, I registered for the webinar. If you are interested in having a squiz, I have uploaded it to: https://dl.dropboxusercontent.com/u/10422981/quantic%20challenge.wmv
I didn’t learn too much from the webinar relating to the ‘challenge’. For example, it didn’t tell me the preferred timeframe – though reading between the lines, the brokers seem to prefer a short term method; it didn’t tell me if the winner had to trade at the insto’s desk. I sent a post that said: “I notice you are in Sydney. If I win the competition, do I have to relocate to Sydney? I assume not; but am seeking confirmation”.
The reply was less than equivocal. It said, : “You will notice that is not listed in the rules, which you can find at the link below.
Please review these or contact us if you have any questions or if there is anything we may be able to help you with”.
I had a squiz at the rules. Basically it allows the organisers to do whatever they want. So, the reply to my question would be: “It’s not mentioned in the rules, but after you have won it, we could require you to trade from Sydney” (!!!???)
I could not find too much on Direct FX except for comments on Forex Peace Army: http://www.forexpeacearmy.com/public/review/www.DirectFX.com. Not exactly favourable, but there are too few reviews (10) to form a firm conclusion. The attempted favaourable spam review is a worry.
Still, if the offer is genuine, and you have a hankering to try your hand at fund management, this would be one way to get in the door. For clarity’s sake: This is not to be taken as a recommendation. I know too little about the brokers involved. It’s strictly a case of buyer beware.