All Prop Firms, in 2020 are just scams?

It is not possible or realistic ?

  • True

  • False

  • Some where in between

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EmilyZ said:
Cheaper commissions? Thats impossible. Try keeping a lower percentage of your profits and paying more in taxes. I studied tax law for a year...time well spent. I highly recommend it.

Capital isn't needed if you have a job and any financial skills, I'd recommend both.......as for the rest, that's what books and the ability to THINK for yourself are for. Quality of thinking is everything. I'd rather follow Warren Buffet and Ray Dalio and build my own.

Every prop firm I have seen is overpriced GARBAGE. Ever notice how you need to pay THOUSANDS to "hopefully" get a chance? hmmm.......Thats how they make their money. It's a scam. Whether or not you fall for it, is up to you, although I would highly recommend taking my advice.
More...

You can't compare the firms you are describing to legit prop firms. I can tell that you are not familiar with these firms by your arrogance and ignorance. To your "impossible" statement that a prop firm can give better commissions than a broker... We are talking about 3-6MS DMA paying fractions of a penny per share vs "free" stock trades which aren't DMA with low latency executions... come on. Any pro trader would rather pay than get free internalized trades that don't execute at a reasonable time.

"Just use your own money" is pretty distasteful, as if everyone has a modest 5 figures to leverage into small 6 to just make a living. There are a ton of math major grads who have student debt who apply at prop firms as a job, no deposits or education. Yeah, just your own money you dumb poor kid, how stupid are you? lol.
 
The futures prop firms have a completely different business model than the equity prop firms.

A futures prop firm registered with the CME is required to only risk the firm's capital, not the trader's capital. They will also have to pay you on a W-2 as an employee. Examples are DRW, TransMarket, Wolverine, Jump, Prime, Geneva, Belvidere.
 
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