i believe cy group has added on sterling recently. call them up they back you with capital and do profit splits for traders who trade physically in their LA office, I'm assuming. I trade remote but this may be good opportunity for new guys who want to learn from a reputatable prop firm. I was on and off with cy and have traded over at t3, title and few other firms before. CY truthfully is the only firm that i have consistently went back over the past years. Not saying i recommend but just something i can say is true that i cant say about any other firm i dealt with. Anyways doesnt hurt to see what prop deal they offer now. The guys that run it have always been honest and seem to be all about the trading which I liked. if they just added sterling it will be a good addition depending on what routes they offer .
Here's a list of prop firms to research and conduct due diligence on which firms can offer you an account for 5k and Lightspeed: http://www.traderslog.com/proprietarytradingfirms.htm The "no cap. lockup" may be difficult to avoid, it's usually for one year on all capital contributions. It's an SEC rule, if you're going with a registered firm: Rule 15c3-1 "An SEC rule that sets minimum net capital requirements for broker-dealers. Firms are expected to have liquid assets equal to or greater than a certain percentage of total liabilities. If the ratio falls below this minimum, the broker-dealer may face restrictions on soliciting new business or on keeping existing business." Anyone who is aware of the situation of VCM/TT with the millions of dollars in unreturned funds and yet chooses to promote Element Trading as a prop firm is probably a shill and/or may have psychological issues.
Make sure your 5k remains yours unless u lose it. It should not become a non-refundable enrollment or training fee.