Independent Audits

[btowntrader54]

Hi

If I were trading with a prop firm, how could I get my performance independently audited to ensure legitimate return figures? Who does such a task?

Thanks

 

[gnome]

The better the reputation of the auditor, the more credibility it will have... and the more it will cost. Figure $5K-$15K per year of trades.

Unless you are required to have an audit by a regulator, it's likely a waste of money and time.

Any claims you make about performance should be "audit-able". That is, you should be prepared to show your claims are accurate.

 

[btowntrader54]

I would do that just by having full documentation of the trades, income, etc, correct?

 

[gnome]

Yes, keep records and statements.