Hi. Can you suggest three solid companies in the states that won't go under tomorrow that I can look into? I'm just about ready to take the plunge into full time trading. I'm looking for competitive rates and some leverage. But most important is that it's reputable. And doesn't require new traders to pay for training.
And why do you think you have any say in the pre-requisites given that they are the ones with the methodology, the technology and the capital and you are one out of 7.6billion people, with the added bonus you don't want to pay for what costs upwards of $300k for training.
I like that, let's help the guy out, the financial markets are about money, money is numbers, so ... Training cost is $300-$500k, 10,000 hours by average US hourly income. TopStepTrader is around $3k or so with a 9% success (depending on your definition), as per the numbers I was given, the spread being their kickbacks from brokers etc. So the only person who will fund $300k is themselves, anyone else wants to be paid, no exceptions. I know a couple of firms who use our fintech, but even if I persuaded them to do a trial, normally they want 1yr upfront cost at 80% subsidised down to $30k with 50% profit retention, at $3k for one month to breakeven or $9k for three months to profitability, it's still 100% more than they want to pay for $300k of training. You have to love the enthusiasm and belief that everything comes for free.
Ah, you noticed. Yup, I'm conservative. It's been difficult walking away from the "easy money" regular office jobs pay. But soon I may be out of work.
So by that it means you have no industry experience, then retail prop is the only way for you to go, and that by definition entails a huge amount of risk which you absorb. We've gone accredited trader to avoid the high failure rates associated with retail prop firms, at best being 90% and often very close to the standard 99% retail failure rate.