How often are traders paid at most prop firms?

Discussion in 'Prop Firms' started by elitetradesman, Apr 14, 2011.

  1. I'm sure it's different from prop firm to prop firm, but what's the standard practice?

    My guess is semi-monthly or biweekly, but can anyone confirm?

    Are there prop firms that pay monthly?
  2. The firm I currently work with pays out on 1rst and 15th. It's not automatic though, it has to be requested and approved. We can request a payout anytime, but the actual transfers from the account to my personal bank account is done the 1rst and 15th.

    Most firms have similar practices. Withdrawing profits 1-2 times a month seems about right. I usually take my payout on the 15th for the previous month (I.E. April 15 I will withdraw march profits -x% that is the firm's)
  3. Yes, if you call around, then you'll find that most of the CBSX registered firms pay monthly, however some give you access to profits bi-weekly, which of course is beneficial to a trader.