Is it difficult to get accepted for a remote prop firm?

Quote from swiftmike99:

This of course depends on the defintion of Prop firm you are using.

The defintion of prop firm is a firm that takes 100% risk. Ie they provide the capital, sometimes training if you need it, nice cozy office, and if you are a bad trader they will loose some money on you. For that they will take a cut of the profits usually between 90%-50% of your profits. Usually a company that pays more than 50% will have whole bunch of strings attached, includin desk fees, deposit fees, safety deposits, software fees, enitlments fees etc. Examples of prop companiesSwiftTrade, TitleTrade, many Futures trading arcades (its becoming rare but still possible/not sure if I should put traders who work for banks in this category because they get payed even when they loose money.)

Thats why the interview process, if an office has hard time making money the process is fake they will take anyone hoping to get lucky with some trader being the next Szeven or the next lescor, if they have a couple gurus working then it's probably impossible to get in. Just ask szeven if he will hire you.

Operation that make money regardles whether a trader is positive or negative for the month are Retail Brokers, Ie Bright, alot of the subgroups from genesis, interactive brokers. They are not prop trading companies and traders working for them are not prop traders, they are just traders using a specific broker to get to the market.

These are my own definitions I am sure a lot of people will dissagre.
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I do agree.
 
Quote from Splat:

What sort of rates can you expect to get per share at prop firms?
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that depends on whether you want a profit split or not.
 
Quote from mnx:

that depends on whether you want a profit split or not.
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I am really looking to compare with a retail broker such as TS who I am with currently. So I get $10 for 500 shares and $16 for 1000 shares round trip. How does that compare with a prop firm?
Can you pls give me an idea of both cases?
Cheers.
 
Quote from Splat:

I am really looking to compare with a retail broker such as TS who I am with currently. So I get $10 for 500 shares and $16 for 1000 shares round trip. How does that compare with a prop firm?
Can you pls give me an idea of both cases?
Cheers.
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10/500 shares = $.02/share (round trip)
16/1000 shares = $ .016/share (round trip)

Props charge you anywhere from .003 - .007/share per side (some more, some less, but this is a general range)

Plus with retail, you get 4-1 leverage whereas in prop, they give you (on average) 20-1.
 
Quote from cstfx:

10/500 shares = $.02/share (round trip)
16/1000 shares = $ .016/share (round trip)

Props charge you anywhere from .003 - .007/share per side (some more, some less, but this is a general range)

Plus with retail, you get 4-1 leverage whereas in prop, they give you (on average) 20-1.
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Thanks for the info man. Obviously worthwhile moving to prop after things progress.
Cheers.
 
HEy Swiftmike
That was some great explanation you gave there
I did have a interview at 1 firm but the guy was very nice and explained me how the system works and all
 
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