I thing what is desperately needed for the Prop Industry is a third party evaluation of some of the TOP Prop firms that actively recruit traders. Finding a list of Prop firms is not a problem but there is no really good forum that assesses both the strengths/weakness of each firm.
In reviewing Smart Money's survey of the best brokers an investor can review a third parties display of what they believe are the strengths/weakness of the Premium/Full Service/ Discount brokers. Also a trader can logon to all these brokers websites and review their:
1. Commission rates
2. Margin requirements
3. other features trader might want to learn about.
In searching for a review of Prop firm evaluations similar to the ones produced by Smart Money/Barron's annual review of online brokers one is not found.
Also going to Prop firms website usually yields very little information about commissions cost, margin rates, etc. etc.
It would seem like if you are one of the TOP Prop firms an annual review of your services would be welcomed. Free advertisement and a claim the you are in the top 10 could help these top 10 Prop firms recruit new traders.
If you are a bad firm you might chose not to participate. People would then wonder why and wonder if this firm has problems associated with it that it does not want to divulged or reveal.
Traders would be able to evaluate firms. Does trader want to go with Prop firm that has higher commission rates and provides higher leverage OR go with firm with low commission rates but has lower leverage. Trader could chose Prop firm with no training or a Prop firm with weeks of training.
At least if a survey/review was done some of the misinformation could be cleared up. Also what different features Prop Firms have to offer would be revealed, hopefully better able to align a trader to a Prop firm to have a better fit.
In reviewing Smart Money's survey of the best brokers an investor can review a third parties display of what they believe are the strengths/weakness of the Premium/Full Service/ Discount brokers. Also a trader can logon to all these brokers websites and review their:
1. Commission rates
2. Margin requirements
3. other features trader might want to learn about.
In searching for a review of Prop firm evaluations similar to the ones produced by Smart Money/Barron's annual review of online brokers one is not found.
Also going to Prop firms website usually yields very little information about commissions cost, margin rates, etc. etc.
It would seem like if you are one of the TOP Prop firms an annual review of your services would be welcomed. Free advertisement and a claim the you are in the top 10 could help these top 10 Prop firms recruit new traders.
If you are a bad firm you might chose not to participate. People would then wonder why and wonder if this firm has problems associated with it that it does not want to divulged or reveal.
Traders would be able to evaluate firms. Does trader want to go with Prop firm that has higher commission rates and provides higher leverage OR go with firm with low commission rates but has lower leverage. Trader could chose Prop firm with no training or a Prop firm with weeks of training.
At least if a survey/review was done some of the misinformation could be cleared up. Also what different features Prop Firms have to offer would be revealed, hopefully better able to align a trader to a Prop firm to have a better fit.
