Remote Prop frim referal

mfbreakout said:
First NY securites training program is 18-24 months and is very through. Traders over their are not scalping for ticks etc.
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and unlike the previously listed prop firms eg T3 they are not looking for capital contribution thus barriers to entry are higher.
 
mfbreakout said:
Hi Old Guard, I have that prop. firms can be divided into 2 categories.

Category1. Broker- Dealer prop firms like T3 capital, T3 live, Integra Capital ( whose broker delaer is T3) Avatar securities etc. NY alone has around 30 or so firms like these. They basically provide you 1 to 10 to 1 to30 leverage and you are allowed to knock yourself out as per your method. Majority of traders with little or no money get excited by the leverage and are out in matter of weeks to months.
These firms have nothing to loose. They charge you feees for data, platform plus get rebate from exchanges.

category 2. SMB capital, First NY securities ( one of the best). Peak 6 and many others do not take capital from traders. If a trader does not have proven trading record, you apply as a Trader Assistant/ Trainee and start trading after couple of months of training. You want this training regardless of what a trader think how good his/her method /system is.

These firms primarily take traders with strong math, stats back ground. Make sure you check out examples of test at www.glassdoor.com

For experinced traders with record- sky is the limit. They roll out RED CARPET. Ideally category 2 firms are the one one should strive to get in.

Good Luck
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How do you know which category a prop firm falls under?
 
3 categories, 1) they pick you based on your education, experience trading, potential, no capital contribution and very hard to get into 2) they require S7 or S56 and substantial capital contribution 3) low capital contribution and probably no S7 or 56 most of the time firm name will end capital.
 
mfbreakout said:
I am looking for a prop firm which allow traders to trade futures. I wanted to join Bright Trading but like most firms they only allow equity or ETF trading.
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Check out TopStepTrader and their futures combine programs. Start with a free trial, then you can choose a simulator "combine" account for $35/month. When you're ready, then take one of their paid simulator combines. If you get a live account, then there is no maintenance margin requirement, only the equity that you build up over time.

Keep in mind, however, that only the bigger combines have the higher odds of profitability, since you'll only have ten trading days to build up your equity in the live account, after which you are fully backed with maintenance margin as you "scale up" your equity.
 
OldGuard said:
Thanks for a great list. I too am looking for a Prop Firm whereby I don't have to train (been paper day trading for almost a year - and learned from a guy who has done VERY well!). I want to find a firm that allows me to trade only 2 - 3 stocks (at most) but have grown to know them very well.
I don't have 25K to do it (for now) but if they will give me a chance, I will make them (and myself) money. I am willing to split my earnings equitably (open to discussion), but am needing to get started soon.

I appreciate any and all help / info.
OG
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There are lots of good firms on that list, however many have consolidated or gone out of business, so check each one accordingly.

If you're willing to put up a capital contribution (bare minimum is $5k) and get your Series 56 license, then stick with the U.S. firms that are registered broker/dealers.
 
I looked at TopStepTrader and actually talked to a few guys who went through their combine. It seems they are more about selling the combine than making money through trading. I also recently came across this company. If anyone knows anything about them please let me know, looks really interesting and straightforward. http://www.futuresprofile.com/
 
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