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You know that to be successful in trading business you should keep yourself up to date with the latest trends and news.
You might have heard of the term proprietary trading. But are you confused about what it actually is and how to choose one for yourself?
A company that directly engages in stock market activities is known as prop trader. Prop traders get into deal with the company as an independent company not like a client or employee. This trade is done through firm accounts. It is done by using resources and accounts of the firm by financial institutes. Hence carrying out self-promoting trades. These trades are speculative and are done by different types of complex investment vehicles. It’s not only the trader firm that is engaged in trades completely but they get it done through prop traders.
Prop trading also known as proprietary trading. It means when financial institutions like brokerage firms, commercial or investment banks invest directly in the activities in the stock market. They can trade stocks, bonds, currencies, derivatives and other instruments.
One of the biggest struggles for prop traders is to find a trustable trading firm. There is a high chance of getting scammed by a company that is showing themself as a prop firm. Here is how you can choose a prop trading firm to avoid getting scammed.
Do a complete research about the firm you are interested in joining. Check all the possible features and benefits they are providing.
The firm with which you are thinking to deal, check its previous records. Make sure they have a good track report. Check testimonials and reviews of the firm on different places.
You can ask the traders who already have worked with the firm. It will give you a view about the firm working strategy and abilities.
Contact the managers and check if they are involved in any kind of scandals or previous scam history.
Make sure you do proper research and know about the possibility of risks you can face. Here we have listed a few best prop traders that you can check:
It is a prop traders that is providing you with three distinctly funded trading programs:
In the case of the Gauntlet program one time payment is required. Traders manage 25,000$ virtual accounts for 60 days. Out of which you need to trade for at least 30 calendar days and if you follow the rules and make 10% of the profit target you will get a funding offer.
The Gauntlet mini program includes Topstep futures or Topstep forex. You have to pay a monthly fee and must follow guidelines. You will get webinars and access to trading classes. Traders can get an offer for trading funded accounts. You can also get a detailed TopstepTrader review on our website.
It is another great prop trader. To get a funded trading account at FTMO you need to go through these steps:
FTMO strongly holds its currency. It’s the best place to consider forex funding accounts. They can provide you 44 trading currency pairs with 10 cryptocurrencies. They provide you free access to three most popular forex trading platforms. These include: MetaTrader 5, MetaTrader 4 and cTrader. You can get cash, indices, commodities and stocks as trading assets.
Few advantages of FTMO are:
Hence prop trading can be fun and beneficial for you if you choose the trader with research and according to your choice.
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