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Trading is easy

  1. arthur

    7,396 Posts.

    Getting new paying students to learn the art of trading is easy by the way Hometraders are expanding ,

    One wonders how many pass the exams and trade for a living?

    I attended a free introductory meeting once and checked out the lavish offices and classrooms in one of the most expensive rental areas in Perth,

    each student had a computer with Metastock and The Bourse installed ,

    I think to graduate properly you need to know a lot more.


    PERTH online share trading training and software group Hometrader is turning its eyes to overseas markets for expansion in the wake of a deal with former rival DaytraderHQ which has effectively trebled its client base.

    Subiaco-based Hometrader, a company founded in part by former Daytrader employees, surprised the market in May this year with the announcement it had struck a licensing deal with Daytrader to take on the company's struggling share trading training arm.

    The agreement was an unusual twist given the history of legal and regulatory sparring between the two companies, which involved a restraining order and complaints made to the Australian Securities & Investments Commission.

    However, on announcement of the agreement both companies heralded it a win. The exclusive 10-year licence deal gave Hometrader the DAY Education business and associated assets in return for an undisclosed monthly fee.

    Hometrader picked up a swag of benefits, boosting its client base from about 1000 to almost 3000 and inheriting a business presence in Melbourne.

    Hometrader already had an established presence in Perth, Adelaide, Sydney and Busselton, and had been eyeing Brisbane when the Daytrader deal occurred.

    "Our next move was going to be Brisbane but the Daytrader deal was too attractive to ignore," Hometrader director John Day said.

    "We started just after the market crashed, which was a bit of an acid test. We have never had an easy run. With Daytrader that was the main problem - they had bull market overheads and then the bear market came in, (but) I think in the new structure they have in place it will work out well for them and give them a good clean break."

    The Daytrader deal also saw Hometrader inherit a small customer base in Singapore, leading the company to investigate the viability of establishing an Asian presence.

    As a result, Hometrader is on the verge of opening a Singapore office, as well as the delayed Brisbane presence.

    "The wealth creation industry in Australia is on a par with the US, and certainly more advanced than Europe and Asia just due to the sophistication of our equities market," Hometrader co-founder Jason Davis said.

    "We have done some investigations into Europe and other parts of Asia as well . . . we have also looked at Kuala Lumpur for example."

    However, Mr Day said the timing of any further moves overseas - and particularly in Asia, given recent events in Bali - was still up in the air.

    "It depends on what happens with the activity in South-East Asia . . . at the moment it's quite possible that the UK would move up the list," he said.

    This year has also seen Hometrader expand into the foreign exchange market, with the acquisition "at fire sale price" in April of Perth company Forex Trading International.

    Hometrader, an unlisted public company, is expecting to move into the black for the first time this year.

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