Introducing 4XProp

“7. How much of the firm's capital will I be allocated?
The amount of capital that a trader is allocated varies depending on experience, strategy, profitability, and size traded during the Evaluation Period Program (EPP). It is in 4XProp's best interest to allocate as much capital as possible to our traders since we participate in the profitability of our traders.

8. How do I apply?
Traders that wish to be considered to trade for 4XProp must first participate in the Evaluation Period Program (EPP).

9. What is the EPP?
The EPP allows your trading to be analyzed. During the EPP, the trader opens a retail account at FXCM, through an Introducing Broker, in the trader's own name. FXCM (www.fxcm.com) is one of the worlds largest Forex Brokers. Since this retail account is opened by the trader in his/her own name directly at FXCM, the trader has complete control over the account. The trader can withdrawal money or even close the account at anytime. 100% of the profits made during the EPP are the traders to keep since the account is theirs. Of course, they are also responsible for any losses during this period.
Since we are only hiring experienced traders, it is assumed that you are already trading forex or equities, futures, or options. If you are currently trading forex, simply move your personal forex account to FXCM so your trading can begin to be analyzed. If you are an experienced trader of other instruments and wish to apply your skills to forex, you can also open a personal account at FXCM to participate in the EPP.
Using real-time risk analysis and trade analysis software, due diligence is performed on the trader's trades. The software measures profit/loss, equity curve, ratio of gains/losses, largest winning/losing trades, average win/loss, ratio winning/losing trades, average time in winning/ losing trades, as well as other proprietary risk analysis parameters. From this data a risk profile is formed to determine the probability of success as a proprietary trader.

10. How long is the EPP?
Typically 8-10 weeks. After that time, enough trading data has been generated to determine if a sub account will be offered for you to trade.

11. Is there a minimum account size that needs to be opened during the EPP?
No. However, it is recommended that the trader start's with a minimum of $5,000. FXCM has allowed traders who wish to participate in the EPP to open an Active Trader Account (http://www.fxcm.com/active-trader.jsp) , which is their professional pricing platform, for only a $5,000 minimum. This is only being offered to prospective 4XProp traders, as FXCM usually requires $50,000 to receive their professional platform.”
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http://www.4xprop.com/faq.php

Ok… That is the deal from their website. Open up an account with FXCM, around $5000 should do the trick and a chosen few will be selected.

Whatever…! :D
 
Correct, we are the FX prop trading division of Nevis Trading. Nevis Trading has been an equity trading firm since 2006 and an Elite Trader Sponsor since 2008. Please do a search on Elite Trader for Nevis and will will see that we have an excellent reputation.

Quote from cstfx:

This is offshoot of Nevis/JC.

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Quote from cstfx:

Quote from marketsurfer:

Andrew Spanton?

No. This is offshoot of Nevis/JC.

If for any reason this db is involved, run away, run away!
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I just wanted to confirm that we are in NO WAY affiliated with him.
 
Quote from 4Xprop:

I just wanted to confirm that we are in NO WAY affiliated with him.
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It's quite laughable what a shitty reputation he has cultivated for himself in this industry in that anyone who even hears his name feels a need to reach for a sanitizer as soon as they can.
 
Quote from CoolTraderDude:

http://www.4xprop.com/faq.php

Ok… That is the deal from their website. Open up an account with FXCM, around $5000 should do the trick and a chosen few will be selected.

Whatever…! :D
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That post is from our website and is how we determine if we want to hire an individual to trade a subaccount. Nowhere does it say you have to open a $5,000 account, any Standard Account will work. However, with a $5,000 account the spreads are narrower because that qualifies for FXCM’s Active Trader Account (usually $50,000 is required for Active Trader).

We feel this is a very unique approach to Prop Trading. Other firms charge you a training fee or a membership fee. Everyone can see through those firms and we all know that it isn’t really prop trading. At no time do you send us or the IB any money. Never. You are only opening an account at FXCM (or moving over an existing one). It is your money and your account in your own name. We aren’t selling you anything. We are not telling anyone we are training them. We do not offer training nor want to be in the training business. We will leave that to others.

Basically we are saying “We want to hire Prop Traders, but first let us see that you can trade” We think that is pretty fair.

I would like to address your quote: “a chosen few will be selected”. We have capital to deploy and know there are a lot of talented traders who can’t get Wall Street prop trading jobs at major banks and brokerages houses because they didn’t go to the right college. There is NOT a limited number of traders that we are looking to hire. Our goal is to build this into a large FX prop trading firm.

I hope that clarifies some aspects of 4XProp. Please feel free to email/call/IM with any questions and they can be answered directly. We do run a business all day and do not continuously check here to see if there are new posts to address.
 
A typical retail spot FX account allows 100X leverage, so a <i>successful trader</i> could start with a small account and build it quickly with such generous leverage. Then why would a successful trader need a prop firm for spot FX?
 
So he can get a million bucks to trade and get 50% of the profit....He would save about one year to build up to that.

ES

Quote from Trader13:

A typical retail spot FX account allows 100X leverage, so a <i>successful trader</i> could start with a small account and build it quickly with such generous leverage. Then why would a successful trader need a prop firm for spot FX?
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Quote from ElectricSavant:

So he can get a million bucks to trade at get 50% of the profit....He would save about one year to build up to that.

ES
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How long of a trading record would a FX spot prop firm require from a trader to grant them a million bucks in trading capital?
 
Quote from Trader13:

A typical retail spot FX account allows 100X leverage, so a <i>successful trader</i> could start with a small account and build it quickly with such generous leverage. Then why would a successful trader need a prop firm for spot FX?
More...

I dont understand that either .
I mean what kind of starting capital trader gets if one passes EPP ?
 
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