http://www.4xprop.com/faq.php Ok⦠That is the deal from their website. Open up an account with FXCM, around $5000 should do the trick and a chosen few will be selected. Whateverâ¦!
Correct, we are the FX prop trading division of Nevis Trading. Nevis Trading has been an equity trading firm since 2006 and an Elite Trader Sponsor since 2008. Please do a search on Elite Trader for Nevis and will will see that we have an excellent reputation.
It's quite laughable what a shitty reputation he has cultivated for himself in this industry in that anyone who even hears his name feels a need to reach for a sanitizer as soon as they can.
That post is from our website and is how we determine if we want to hire an individual to trade a subaccount. Nowhere does it say you have to open a $5,000 account, any Standard Account will work. However, with a $5,000 account the spreads are narrower because that qualifies for FXCMâs Active Trader Account (usually $50,000 is required for Active Trader). We feel this is a very unique approach to Prop Trading. Other firms charge you a training fee or a membership fee. Everyone can see through those firms and we all know that it isnât really prop trading. At no time do you send us or the IB any money. Never. You are only opening an account at FXCM (or moving over an existing one). It is your money and your account in your own name. We arenât selling you anything. We are not telling anyone we are training them. We do not offer training nor want to be in the training business. We will leave that to others. Basically we are saying âWe want to hire Prop Traders, but first let us see that you can tradeâ We think that is pretty fair. I would like to address your quote: âa chosen few will be selectedâ. We have capital to deploy and know there are a lot of talented traders who canât get Wall Street prop trading jobs at major banks and brokerages houses because they didnât go to the right college. There is NOT a limited number of traders that we are looking to hire. Our goal is to build this into a large FX prop trading firm. I hope that clarifies some aspects of 4XProp. Please feel free to email/call/IM with any questions and they can be answered directly. We do run a business all day and do not continuously check here to see if there are new posts to address.
A typical retail spot FX account allows 100X leverage, so a <i>successful trader</i> could start with a small account and build it quickly with such generous leverage. Then why would a successful trader need a prop firm for spot FX?
So he can get a million bucks to trade and get 50% of the profit....He would save about one year to build up to that. ES
How long of a trading record would a FX spot prop firm require from a trader to grant them a million bucks in trading capital?