Thanks for the consideration, fastprofitstaker. I have done some research into the currency market that initially sparked from a keen interest, although I am yet to look specifically into the prospects of starting a Forex prop firm and the various intricacies involved in such a venture. It seems that very few prop firms actually engage in trading spot FX (Marex is the only one that comes to mind), while most other niche prop firms that strive to partake in the currency market actually trade FX Futures. As such, it's no surprise that 60% of the daily $4 trillion stems from swaps and other derivatives. Iâm not exactly sure why such a phenomena exists- perhaps the OTC nature of the FX spot market diminishes the prospects of market making revenue for prop firms.
I still have a considerable amount to learn about trading and the ever evolving market dynamics. As such, I've set myself a benchmark of 10-15 years to gather the experience, coupled with the intellectual and monetary resources required to establish an innovative Foreign Exchange prop firm. I also believe some key developments could take place in the Interbank market over the next decade, both technologically and fundamentally (particularly in the realm of emerging market currencies). Furthermore, many of my trading idols are, or were key players in the FX market: Paul Tudor Jones, Bill Lipschutz, Ray Dalio, Bruce Kovner, Michael Marcus, Ed Seykota, George Soros, Jim Simons among many other traders never fail to inspire me.
Iâd also love to hear about your experiences as a prop trader in Toronto. I certainly cherish meaningful conversations about the markets, particularly with entrepreneurially minded folks. If you do decide to start a prop trading firm Iâd be more than happy to be of any assistance.
