Looking for a Prop Firm

Discussion in 'Prop Firms' started by Purdey500, Dec 22, 2017.

  1. Purdey500


    Hello Everyone,

    I am new to the forum.

    I and algorithmic trader looking for a prop firm that supports remote traders.

    In my country we are not allowed to send money overseas for margin trading or else I would have used my own funds.

    Most of the Prop firms have a evaluation period with simulation which is very logical but in my case I have done enough testing and trust my systems fully so it will be just waste of time so I am willing to give a backup guarantee of the pre decided drawdown with my own money.

    This will provide the firm with no loss scenario.

    I would like to request the members to help me get intouch with any Prop firm that will be interested.

  2. Robert Morse

    Robert Morse Sponsor

    In India you are not allowed to open a margin account in the USA? I have not heard about that restriction. Do you have a link to that law I may read?
  3. Purdey500


    Hi Robert

    This was done in wake of Forex scams few years ago.


    Please refer to Rule A (5)

    5. All other transactions which are otherwise not permissible under FEMA and those in the nature of remittance for margins or margin calls to overseas exchanges/ overseas counterparty are not allowed under the Scheme.
  4. sle


    If you’re unable to transfer money outside the country, how do you envision handling things should you lose money?

    I do know someone that runs a systematic prop firm, they only hire remotely. Could you elaborate on your product universe, capital usage, latency requirements, turnover rates, TC sensitivity etc?
    Purdey500 likes this.
  5. Purdey500


    Can you please PM,Looks like I am too new to initiate one.
    777 likes this.
  6. 777


    Purdey500 likes this.
  7. Purdey500


  8. qlai


    What does this stand for? Thanks
  9. sle


    Transaction costs sensitivity
  10. traderjo


    - no proof of what you have traded and as you say your country does not allow sending money overseas for any such margin trading then how do you proposes you will send the money required for "backup guarantee"
    and how would you explain the incoming money to your govt!
    - there are already Prop firms outposts in your country like futures first etc why dont you try them first so you wont have the FX issue
    - Being secretive will not help you get support

    Something does not add up !
    #10     Feb 8, 2018