Proprietary Trading

I've just recently learned about proprietary trading and am still fuzzy on the subject. I know it probably depends on the specific company, but can it be done from home?

Can someone under 18 do it if they have their series 7 license?

And finally I assume that you use the company's money to trade, but you are allowed leverage and because you use their money, they earn a certain amount of whatever you make, right?
 
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