I've tried searching older posts but obviously with an industry so much in flux I was hoping for some recent advice from traders with actual experience CURRENTLY trading at prop firms. Can you give me suggestions on best props right now based on the following criteria in order of importance: 1) Stellar reputation for timely payouts and adequate balance sheet 2) 95-100% payout 3) Ability to trade remote 4) Ability to trade as many different asset classes as possible 5) low commish fees I'm willing to put up (a nice chunk) of my own capital. I expect a lot of leverage and do hold some overnights. Which firms should I be considering? Thanks for your advice. Just as an aside I'm currently trading an account with my own capital at a very safe large retail firm. I now need more leverage and flexibility in trading new instruments (like currency and oil futures). Much obliged.
this is going to be the point of contention... you will not really find a prop that offers all three... so if you have lots of capital, the best you can do is portfolio margin and going with IBKR... assuming you stay retail...
You could try Bright. I'm not sure if the profit split goes as high as you'd like but they have access to different asset classes - at least more than you would find at a cbsx firm or something like that
It would be great if any retail firm allows currencies with 50:1 leverage (current US regulation). Is there any US firm which allows leveraged gold spot trading? TIA
Why don't you bypass the prop firms and look directly into forex brokers? They will provide you with the 50x leverage you want and you can trade currencies and trade anytime and anywhere you want.
CY group will give you 20:1 on equities but most prop firms are cash only for options and things like that
I have used Interactive a lot for forex as well as other products, execution on forex trades has been very good, especially during high volatility periods like after big economic reports. I have not as good luck with others.
I had the same experience of R123. Other FX brokers are terrible and probably outright crooks when there are major announcements and there is significant slippage, stuck orders, etc. IB is Wayyyyyyy better as the execution is quick and not as much slippage. Will never go back to other brokers to trade FX