futures prop

Discussion in 'Prop Firms' started by zerosum111, Nov 12, 2009.

  1. Does anyone know of any somewhat legit futures prop shops in Chicago? I've done a lot of my research already and I'm not really looking for a trader trainee type position, but rather a 50/50 split type of setup. I found some old threads about GHCO and Refco, but I was wondering if their futures prop operations still exist? I have experience at an options prop shop, but would like to move into futures. Any advice is greatly appreciated.

  2. Just ask a prop firm if you can trade futures.....Most prop firms software is compatible for futures trading.....And with $500/margin requirements why would you even want to trade with a prop firm... mirusfutures.com $500/margin per contract buddy...hope this helps
  3. If you want to find a reputable prop firm for futures backing look through the list of CME Member firms found here http://www.cmegroup.com/tools-information/corporate-equity-members.html . These firms will likely not give 50 / 50 splits but they will be very well capitalized and will allow your trades to reach full potential. You will likely need a track record of greater than 1 year as a futures trader to get employment at these firms though. If you are decently capitalized, the much better route is to back yourself. Giving out vig to your backer is a very bad trade for you in the long run. Reinvest the profits from your core trades into expanding your book. As someone who worked for a prop firm for four years, leaving to back myself was the best decision I have made in my professional career. While the first couple of months of independence are tough, within six months you will have the limits from your clearing firm that you need to be successful even if you are unhappy with what they give you to start. I would recommend Advantage Futures, MBF Clearing, MF Global and Fortis for futures clearing.