Which broker to use if you're starting a prop firm?

[crypto]

Just wondering if you guys have any idea on which broker to use as a prop firm focusing on the USA equities market that offers 10x or more leverage intraday? I've checked with interactive broker's prop trading solutions and they only offer 4x , so I'm just wondering how and where do prop firms go to get that kind of leverage intraday.

Thanks in advance guys

Definitely go with wintrado.com - this is the name of the platform, and some of the websites on which it operates are gfmarketsllc.com , pro5000.com, and others. This is the best of the best for beginners, and if has an academy section too.

 

[birdman]

Just wondering if you guys have any idea on which broker to use as a prop firm focusing on the USA equities market that offers 10x or more leverage intraday?

Intresting concept. I ask AI about futures brokers that white label their platforms and the answer was ....
there are several futures brokerages that offer white label trading platforms for smaller companies. Here are a few examples:

1. Haywood Financial Technology provides a white label trading platform that supports multiple asset classes including futures, stocks, forex, and crypto. Their solution is designed for start-up firms and offers order management, risk control, and an advanced trading simulator.
2. Saxo Bank is a major provider of white label trading platforms. Their solution includes functionality for trading, monitoring, reporting, market data, charting, news, research, analytics, connectivity to brokers and liquidity providers, risk management, and more. Saxo Bank's white label partners include over 200 banks and brokers globally.
3. Tradesmarter offers an all-in-one proprietary white label trading platform with a client cabinet, back-office software, multi-product offering, multi-base currency support, and risk management tools. Their solution is designed to be fast to deploy as a stand-alone platform, embedded platform, widgets, or via API.
4. UpTrader provides advanced white label FX broker tools and CRM systems to help start a futures brokerage with minimum costs and maximum optimization. Their platform supports multiple asset classes including futures.

So in summary, yes there are several reputable futures brokerages that offer comprehensive white label trading platforms to enable smaller firms to offer futures trading under their own brand. This allows them to quickly enter the market without having to build their own platform from scratch.
Related

 

[traderjo]

MyNinja, I do not want to make too many assumptions about you or what you have access to, but I expect starting your own Joint Back Office (JBO) type Prop firm to get excess leverage like a T3 or Hold Brothers is going to be a harder than you expect. For starters, you need to be a licensed SEC broker, choose a Self Regulatory Organization (SRO) to regulate you, have in excess of $1mm, have a clearing broker to the partner with and have a staff that has their licenses to get approval to get started. It would be easier to start an unregulated trading firm with a Portfolio Margin Account. You can get up to 6.67x for day trading and if you can raise $5mm, get, upon approval your 10x from your broker for day trading. This PM customer account will not have the regulatory requirements of the JBO broker, but will have other restrictions.

Hi Robert, could you please elborate on "start an unregulated trading firm" and what restrictions

 

[Robert Morse]

Just call me tomorrow to discuss it. It would take too long to type. In general, a group of investors put up money and hire traders. There are a number of forms of this. It depends on the company goals and how they want to meet them.

Hi Robert, could you please elborate on "start an unregulated trading firm" and what restrictions

 

[traderjo]

Due to time diff may not be able to call...any way so Traders don't put first loss they are just paid on performance or some retainer + performance , I am guessing Group of investors must know each other or agree to be together financially and this can't be mass marketed