You applied for a markets internship at an investment bank but were not accepted because of your lack of trading expertise. Do you think investing in trader education is a good idea? Will De Lucy, co-founder of the proprietary trading business and trader education provider Amplify Trading, spoke with us? As expected, De Lucy maintains that investing in training is worthwhile.
Additionally, he noted the following:
1. Amplify Trains 180 Traders Annually
Twelve to fifteen individuals enrol in Amplify’s two-month trader training school each month. The co-founder of Amplify, Will De Lucy, adds that the first month of the training is more theoretical. The topics are mostly taught in that setting. The second month is dedicated to putting those ideas into practice and evaluating your progress.
2. Amplify Trader Training Is In High Demand
“Almost all of this year’s spots are taken, and we’re double-subscribed,” adds De Lucy. “However,” he continues, “there are a few openings in August.”
3. The Cost Of The Trader Education Programme Is High
Amplify’s offer is £1.4k per month for students or £2.8k for the entire two months. This is a three-month, £1.6k-a-month course for recent graduates and working professionals.
4. The Likelihood Of Landing A Job In Amplify Trading Is Low
Amplify has a staff of 35 proprietary traders that work for the company directly; however, only a small percentage of trainees go on to join this team. “Out of any training group of 12 or so, we normally get a mix of individuals who want to genuinely get into prop trading and ultimately stay with us, while others are more interested in expanding their financial market expertise,” adds De Lucy.
If you perform well during your training, how do you increase your chances of being retained? De Lucy comments, “It’s really black and white.” “It’s all about performance; if you turn a profit for three consecutive weeks during the second month of the plan, then we will consider you.”
5. A Viable Alternative To Summer Internships For College Students
De Lucy explains, “During the months of June, July, and August, we set aside our training possibilities for students who did not secure a trading internship but would benefit enormously from our curriculum.”
6. Help Middle And Back-Office Investment Banking Personnel Transition To Trade
It’s not only college grads who apply; “we also receive a high number of career changes,” adds De Lucy. However, “it might be difficult to get into trading from a middle office function today,” he notes. “They have to quit their job initially, but it’s a step toward the pursuit of the career they’re actually interested in,” he says of the participants in Amplify’s training programme. Due to the fact that our students engage in live market trading, this is not a subject that can be presented as a televised nightly show.
7. Several Graduates Get Work In The Investment Banking Industry
“It’s impossible to track this exactly,” adds De Lucy, “but from what we can work out, at least 20% of the trainees who have been through our curriculum end up working for significant financial organisations.” Even so, it’s unclear if all of them are front-desk employees.
8. Anyone May Join The Amplify Trading Platform
That being said, according to De Lucy, academic proficiency is overvalued in trading. I graduated with a 2.2 from Leeds University, and when I first began out as a bond trader 16 years ago, I worked alongside someone who had earned a first-class degree in mechanical engineering from Imperial College. Although my trading strategy differed greatly from his, my financial results were identical.
9. You May Receive Assistance With Your Banking Application
“Sometimes, when we identify a really great individual, we’ll even help them apply for jobs at banks,” adds De Lucy. I will meet with them individually to discuss their career goals and brainstorm ways to highlight their relevant experience on their resume. However, we do not provide individual introductions.
10. Banks No Longer Need Proprietary Traders
Since the implementation of the Volcker Rule, banks have been prohibited from maintaining their own proprietary trading departments. De Lucy, though, insists that the Amplify training course, which emphasises the use of props, is still useful. “What banks are seeking now are individuals who grasp how assets move in today’s climate and how they’re interrelated,” he explains. According to De Lucy’s analysis, “our men are intriguing not because they’re prospective prop traders, but because they are highly clued up about markets.”
Amplify Trading was started in 2009, and its goal is to teach traders how to be successful in the modern world of global markets, just like traders trade digital assets like bitcoin with trading bots like Bitcoin Hack. Many of the world’s leading financial institutions use our cutting-edge strategy for capital markets training to identify and cultivate future leaders in the industry.