Please people.....beware of prop firms that offer you 20x, 50x, 100x times buying power!! If you don't know how to handle that kind of buying power you will get wiped out in a month or two. Instead try to go to a prop firm that gives you buying power according to your experience and knowledge of the stock market! Also, go to a prop firm that gives you good risk management tools and looks out for your best interest! Having too much buying power only: -makes you over-trade and waste money on commissions -makes you psychologically tilted due to making so many trades -in combination with a 35% profit cut by the prop firm MAKES YOU BROKE IN A MONTH!!!!! Avoid these damn schisters in MANHATTAN!!!!!!!!!!!!!!!!
I second that Most people, even the brokers, have no idea what leverage is and what it can cause. leverage is like using an old fashioned razor blade to shave you need to be extremely careful. if people are offering out of the gate insane leverage: big red flag. any guy sitting next to u can blow the firm (and ur money with it)
If you are serious about daytrading for a stable career and income, PLEASE go to a firm that gives you moderate BUYING POWER and most importantly, training and coaching services!!!! That is a big sign of the firm's confidence in their traders and teaching abilities!!!! Slowly progress as a trader -- versus trying to be a zillionaire in your first month!!!!
.............also, make sure that they fully explain their training methods and concepts to you before you join as a trader. Avoid any firm that claims that they can teach you how to trade in a few weeks - that is just not possible - instead try to join a prop firm that offers ongoing training.