Toyo FX - trick or treat?

[Sarutaro]

This company, Toyo International FX Inc, seems to be constantly recruiting. Does anybody know what it is all about? Anyone been to a job interview there?

[Mulboyne]

Most of the lucrative "annual incomes" mentioned there will be for commission-based sales jobs. I don't know about Toyo but in some similar firms, there is no actual base salary.

There are a number of organizations in Tokyo which require salesmen to cold-call lists of people. Most of them are selling financial services - life insurance, mutual funds, currency trading (e.g. Magellan) - some are selling timeshare property, others are headhunters or consultants (e.g. East West Consulting). There used to be a lot of telephone callback salespeople around too but they have largely disappeared along with that market.

If you don't have your own clients then you'll usually get a list of tepid prospects, an internal telephone extension list from a big foreign firm or just a telephone directory and told to go and find some business.

This kind of work suits some and I know people who have done well out of such companies. However, they do tend to end up in "sellling mode" 24 hours a day which can make them social pariahs. Also, the focus on short term commission often means that the customer can get overlooked so the reputation of these companies is generally not wonderful.

[Sarutaro]

I applied for the job and got it. I can report that it IS indeed commission-based, but NOT telemarketing. Actually, quite good conditions and much better than I expected. Knowledge about financial markets is a plus.

If anyone is interested in finding out more details, please PM me or e-mail me. I know that there are some more positions to fill.

[inthebubble]

So what's the secret? must be a pyramid based scheme?

[Mulboyne]

So what's the secret? must be a pyramid based scheme?

Companies like Toyo aren't pyramid schemes. They charge a fee or commission for every transaction a customer puts through the firm so the job of a broker or salesman there is to build relationships with customers and get them to trade regularly. Some companies will deal with individual clients, some will deal only with corporate customers, others will do both.

[FG Lurker]

must be a pyramid based scheme?

Only the Japanese government is allowed to run those here. Doubt me? Think about how the wonderful retirement (nenkin) system of Japan works. Yep, classic pyramid scheme.