Retail Accounts at Prop Firms

[dealmaker]

Don't get me wrong you really have to do your DD on firms. But I have seen many individuals on forums looking for offshore prop firms and mention avoiding licensing.

Look at the plight of traders at Nonko & Nevis, when you trade offshore to avoid licensing or PDT you risk a lot...

 

[Proptrader23]

And even less protection as they might not be regulated. Your money, just trying to help.

I agree. To answer OP's question, no you cannot trade at a prop firm unless you are licensed. A few firms have been offering retail PM with SIPC coverage, but that requires a much larger deposit.

I'm really interested in seeing how the FINRA exam restructuring will play out for the prop industry.

 

[Proptrader23]

Look at the plight of traders at Nonko & Nevis, when you trade offshore to avoid licensing or PDT you risk a lot...

and from what I've seen on here shark traders as well?

It's ridiculous that anyone would risk that much just to avoid licensing

 

[Robert Morse]

A few firms have been offering retail PM with SIPC coverage, but that requires a much larger deposit.

That is correct, but those retail account are not different than other retail accounts. They will be introduced from a FINRA BD vs the Prop BD. We get referrals from some prop firms for retail accounts as the traders want to use Sterling or Lightspeed Trader.