The Best Prop Firms top 10

T

Trademanstan

Im looking for the best prop firms, the best one.. doesnt matter money amount. Im looking for:

1. the training
2. User friendly easy assist with building personal track record
3. Over all just plain The best damn prop trading arcade


And then, if you would be so kind as to provide us the best or 10 ten prop trading firms that allow very low amounts of investment to enter. Please use the same criteria as above.

Thank you..

If it's possible to list
 
lol But clubber. theres some truth to what youre saying, I guess as a newbie, i have to figure out why theres no prop firms left..

I mean shit.. How will someone be able to start his or her own fund without some kind of track record

thats the thing im trying to figure out.. where the heck is this industry going, if nobody can prove a track record to start a measley fund, how can you be an entrepreneur in this business?

I blame George Bush, before him it was nice..
but i digress
 
The prop business is rough. The only guys left around are the highly-capitalized and very organized firms and some are even growing into retail and designing their own software and expanding into the retail world. The truth is the industry might not last another 4 years of Obama/Romney. There will definitely be massive new regulations that hurt the little guy even more, especially in the case of Obama because he has all the banks and the FED waiting for his re-election to fulfil all the promises he's made his big donors.

You can find low deposits and super cheap rates but it doesn't really matter. You end up paying more to FINRA/SEC/TAXES then the prop firm and yourself. Now with all the licensing scams, who knows what the next step will be? Probably income verification requirement for leverage or something along those lines. It's sad but it's true.

Take the mortgage industry for example. Banks make all the interest in the first 5-7 years of the loans (see your mortgage contract) and then once the loan is gonna go bust, sell it to the FED for the full 100 pennies on the dollar of the original principal during the boom under some "quantitative easing" program which basically means public theft that nobody can stop. It's ponzi-scheme after ponzi-scheme after ponzi-scheme and I am really starting to believe the situation is not going to last.

Establishing a business overseas somewhere and trading under that business is probably the best bet for the future. It will be very expensive and difficult for US traders to get access to markets in the future. All the n00bs on the boards asking for what firm will give $1500 deposit and 25 cents per 1k shares will not find those type of deals anymore. That's why if you want to learn by participating in the markets, you're hurting yourself by waiting.

I think the goals for the financial industry are to consolidate into too-big-to-fail mega-banks and over-regulate the smaller companies. This is what the strategy has been for 40+ years and it's working like a charm.

For all of our sakes, I hope I am wrong on all accounts and will be very happy if that turns out to be the case.
 
only problem is with establishing business overseas and trading under that business is that you have to start all over again. and get clients ect.

the whole reason why prop firms are needed, to get the underdogs a chance to prove their worth so investors and institutions can find the best of the best.

Im sure yes, it's better overseas, especially the islands, and third world countries where the markets are below standard and not much attention is paid to them..

but stocks over there have no intrinsic value, and usually fall apart.. some.. not all.

how would you overcome these obstacles?
 
Quote from Trademanstan:

only problem is with establishing business overseas and trading under that business is that you have to start all over again. and get clients ect.

the whole reason why prop firms are needed, to get the underdogs a chance to prove their worth so investors and institutions can find the best of the best.

Im sure yes, it's better overseas, especially the islands, and third world countries where the markets are below standard and not much attention is paid to them..

but stocks over there have no intrinsic value, and usually fall apart.. some.. not all.

how would you overcome these obstacles?
More...

My guess is that evo is referring to having a trading company domiciled in a foreign country but not necessarily trading the native markets. The goal being a more favorable tax and regulatory environment. Just an assumption though.
 
Quote from EvOTraderV2:


You can find low deposits and super cheap rates but it doesn't really matter. You end up paying more to FINRA/SEC/TAXES then the prop firm and yourself. Now with all the licensing scams, who knows what the next step will be? Probably income verification requirement for leverage or something along those lines. It's sad but it's true.

For all of our sakes, I hope I am wrong on all accounts and will be very happy if that turns out to be the case.
More...

You're not wrong, and that's what's annoying. :-)

I've been tightening the screws to make a buck, but most of what I squeeze out of the market has been going to the broker and my margins have been cut in half. It's very frustrating.
 
Quote from Clubber Lang:

Are there even 10 prop firms left?
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Quote from Trademanstan:

lol But clubber. theres some truth to what youre saying, I guess as a newbie, i have to figure out why theres no prop firms left..
More...

There are several equity props left, however the industry is shrinking and only the well-capitalized will survive, and/or the firms that expand their models, just as Evo mentioned.

New rules/regulations/license requirements etc have inreased the barrier to entry, both from the trader and the firm's perspectives.

Some of the registered props which are broker-dealers where you require a license to trade and are still around are as follows (you can do a search on these boards).

In no particular order:

Avatar Securities
Chimera Securities
WTS (World Trade Securities)
T3 Trading
Quasar Trading
Hold Brothers
Coastal Trade
Bright Trading
Echotrade

Unregistered firms are to be avoided. You can read up on firms that closed shop without returning capital to their traders, and traders then had to file complaints in an effort to get back their funds. Trust me on this, it's definitely a hassle you want to avoid!

There are also offshore firms that cater to non-U.S. citizens, or for US citizens that are willing and able to set up a foreign entity to trade the U.S. markets (obviously not feasible for a newbie trader).

As always, conduct your own proper due diligence before you agree to terms and sign a contract.

Also, once you make a capital contribution, it's "locked up" as per SEC rules for one year, so go with the firm that you feel you can trust and has a track record of paying their traders.

Regarding the amount of capital and training, it's best to contact the firms directly to find out what services they offer, and then negotiate the best terms.

Hope that helps.
 
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