Are there any prop shops that you know of that will pay you a monthly salary to trade? That don't charge any fees and will get you setup and trained? In return, you might get less of a payout, but you'd get a salary and a good start. Then you can later switch to a higher payout with fees. Does this exist anywhere?
Or similarly, are there any prop shops that don't require any money down at all to start and no monthly fees or commission fees? They don't pay a salary but will instead pay you a percentage of the profits?
If they do not charge you any commissions, how are they supposed to make money off of you. It s my understanding that commissions are a main source of income for prop shops so I doubt you will find any firm that will not charge you commissions. That is a little unreasonable since you are asking to trade for free.
I am afraid you are mistaken OptionCoach. There were, and perhaps still are, some proprietary firms that would bring on traders to trade at wholesale rates in return for larger profit splits. Whether or not the "math" works out is dependent upon the strategy obviously.
Kind of risky for that prop shop, allowing all that risk in the hands of traders simply for profit splits... I guess that is why you kind of said, there were...... they all got blown out!
Well sir, there are entire trading firms with Class A Clearing Status at the Chicago Mercantile Exchange which engage exclusively in that practice. (i.e. they "back" traders) for percentage profit splits. Perhaps, you should learn a bit more about the "business" before you give advice.
They are all over the place in Chicago, but they tend to concentrate on futures or options, they aren't like most of stock trading chop shops that you see all over ET.
there are at least 20 firms in chicago that do exactly that...pay u a small salary/draw & charge minimal commissions...in return for a percentage of profits & roughly 20-30cents a side on trades