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  1. #1
    Join Date
    Feb 2007
    Posts
    3

    Dimension Capital LLC a scam??

    My friend recieved an offer to be a Junior trader at Dimension Capital, they interviewed him for quite some time, and then showed him around. The company starts off at 3 months of training, starting with paper trading first 2 weeks, then on to the simulator, followed by 2-3 weeks of real money, then they up the amount of money that they let you use.

    now the catch, theres no base salary, and you have to put down money. they do it with you putting down $5,000 or $10,000 and its proportional to how much they give you to trade.

    I cant find much about this company.
    they are located in new york city 91 5th avenue.

  2. #2
    Join Date
    Apr 2009
    Posts
    1

    Re: Dimension Capital LLC a scam??

    I found a job posting in *****slist.org. I didn't even know when I sent my resume and cover letter for this job. And one Sunday I got a phone call for an interview.(He reached me only on Sunday.) I didn't even know I was going to sign a contract. It was like a real interview process. But, when you looked at the contract you would think something is fishy.

    There were many suspicious things going on about this company.
    First, on the day I signed a contract, I was required to put down at least $5000. I knew something was going on. Fortunately, I didn't have a check. So, I just told him I would give it later. And I hadn't

    Second, they rarely answer a phone call. On the interview day, I had to wait for almost 45 minutes before I got an interview.(So, I finally was able to have an interview about 1 hour late.) I tried to reach the guy, but he never answered a call. And after the interview, when I tried to reach him, it never been successful. Plus, they contact you only by a phone call, not emails or letters. I think they tried not to leave any documents.

    Third, they didn't give me a original contact I signed. I think it's the same reason above. Plus, they can manipulate the contract so that it's favorable to them after the contract is signed.

    Finally, they don't require that you pass Series 7,63 exams. This is totally illegal if you are to do real trading.
    So, please don't apply for this job. I was so desperate that I had no choice but to sign it. But I never went there.
    I think you have to stay away from it if you don't want to lose money for nothing.
    Last edited by huun2; 04-12-2009 at 04:12 PM.

  3. #3
    Join Date
    Apr 2009
    Posts
    1

    Re: Dimension Capital LLC a scam??

    hunn2,
    trading without a 7 and 63 is NOT illegal.
    7 is general securites rep.
    63 is known as the 'blue sky' which is for doing interstate securities business.
    It takes no liscensce to to trade for profit by yourself or for a firm.
    To trade client orders for a firm you need a seies 55.
    To sum it up, to take an order from the public you need a 7 & 63, to then be allowed to trade that order you need a 55.

    To trade purely for profit you need no liscence.

  4. #4
    Join Date
    Apr 2009
    Location
    USA
    Posts
    21

    Re: Dimension Capital LLC a scam??

    Quote Originally Posted by frostwind View Post
    My friend recieved an offer to be a Junior trader at Dimension Capital, they interviewed him for quite some time, and then showed him around. The company starts off at 3 months of training, starting with paper trading first 2 weeks, then on to the simulator, followed by 2-3 weeks of real money, then they up the amount of money that they let you use.

    now the catch, theres no base salary, and you have to put down money. they do it with you putting down $5,000 or $10,000 and its proportional to how much they give you to trade.

    I cant find much about this company.
    they are located in new york city 91 5th avenue.
    That sounds super duper shady...

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