Who's the best Forex Prop firm out there?

donaldduck3419 · Apr 9, 2004

What are the Forex prop firms out there? Who's the best one of them all? Why? Don't forget to give the reason. Remember, only prop Forex trading, not retail.

Don Bright · Apr 9, 2004

Why would anyone support "prop" forex trading...?? Most professionals know that forex trading is simply "playing the house's game" (the banks, obviously), and is un-regulated... so why would anyone want to expend risk on something so silly?

If you want to play forex, just play...you get enough leverage to hang yourself anyway....

The fact that there aren't any legitimate "forex prop firms" pretty much says it all, dontcha think?

However, if there are really any "legitimate" prop shops pushing forex trading...please let me know via PM (Schony, Generic, FNYS, Echo, assent?).... (Hey, I've been wrong before).

Don

hoodooman · Apr 9, 2004

Excellent post Don

traderob · Apr 10, 2004

Thanks, Don. I figured this out a while back, good to have confirmation.

SethArb · Apr 10, 2004

the only forex prop firms out there that make or lose the big

buckaroos are the major banks ...

Don Bright · Apr 10, 2004

Glad to see that the average IQ of the ET family is well above average.

But, then again, we can always start a "3 card Monty" game...LOL.

Don

The Answer · Apr 10, 2004

Shill Securities is now offering Forex trading with 300x leverage. MM's at Shill will give you the tightest spreads in the industry. Typically less than 10 pips wide in EUR and ShillExpress is the leader in Forex order entry technology. I understand that Shill gives payouts OVER 105% as well.

Don Bright · Apr 10, 2004

Quote from The Answer:

Shill Securities is now offering Forex trading with 300x leverage. MM's at Shill will give you the tightest spreads in the industry. Typically less than 10 pips wide in EUR and ShillExpress is the leader in Forex order entry technology. I understand that Shill gives payouts OVER 105% as well.

I've been wondering about the expansion plans for Shill (Worldwide Trading and Exploitation, LTD)...glad to see that they are alive and well..... I hope to see a great 10Q and 10K from them.

"Pip Pip and hurrah"...

Don

alanm · Apr 11, 2004

Why isn't working at the forex desk of a money center bank considered "working for a prop firm"? You trade the bank's money, get paid a salary and, if you're good, a piece of the profits.

Don Bright · Apr 12, 2004

Quote from alanm:

Why isn't working at the forex desk of a money center bank considered "working for a prop firm"? You trade the bank's money, get paid a salary and, if you're good, a piece of the profits.

Sure, this is working for prop firm...but I think you'll find that the distinction most traders make is whether or not they have full discretion in their trading. Most banks who have forex guys working for them...keep them on a real short leash, orders to follow....etc.

Don