Helios Trading Partners, I believe part of Earn2trade, that handles the live accounts, also allows you to send a track record. Tradefundrr offers this as well, they are part of the T3 trading group, but I think they require initial risk capital. I don't know if anyone ever got any funding with them that way, but you can try.
As it is interesting thread, so I will share a bit of my personal experience and then how I see this industry. I worked in 2 prop shops. Both you would probably call legit (no tryouts/evals, normal offices, normal real DMA market access, members commissions, tier1 platforms or proprietary solutions etc. etc.). So first - do normal prop shops still exist ? If we cut off all tier1 companies like Optiver, Jane Street etc. and focus on more like old school props for ppl with different background (not exactly quants or math), the answer is - those almost not exist anymore. Of course there still are some small offices, where you have a few to a dozen veterans who already buiilt their capital, especially in equities, some still in futures. But if you ask about normal robust prop, that is willing to train you, give you capital + some basic salary etc. So you can forget about it. That world ended some time ago (in general). When it comes to those firms, I call them "semi-scam". Should we call them prop-firm ? Not really, because they don't really want profitable traders, even on live accounts. What they want is collecting evaluation fees, resets etc. etc. Additional thing - usually they don't provide any better commission strucutre than reatail. No real common growth with some "real deal" traders. etc. More of that - some of them (I checked) when you go live don't even provide what offered (in terms of buying power) - or change it during cooperation etc. So that also a scam part. Especially if you use them to trade somethign heavy (in tick size and margin) like FDAX, SI etc. Day operate on day margins, don't assume to have much live traders, then you go live and they need to cover 40-50-60 k of margin and the problems starts So why semi-scam, not scam ? Because they pay (I checked some to see, and they do, soon maybe I will check more, then give some interesting thread about it. But not really my main gool, so may take some time if ever). So in that terms - they deliver what they promise (after you get through all the small and big rules, all the weird payout requirements etc. etc.) Now, when it comes to Raen - I have mixed feelings. - The thing that was presented here as a "plus", so the guy who first was in Apteros trading - I'm not sure if I would consider it "plus". I have some info about this guy Merritt from Apteros, wouldn't say that robust person. So ppl who cooperate with that kind can be similiar. - The commission structure - ok, that works good, like in "normal prop" - The "no slippage" topic and "DMA". I don't know what they mean by that, maybe co-lo servers ? - The evaluation rules - indeed are better than the rest, so that maybe some way on plus - The evaluation fee - here we have huge red flag, one of those ppl advertising it as "just small fee to cover basic costs" - + the topic of "cohorts" - typical marketing catch from psychology But now one thing no one usually mention, and I think (based on my very negative personal experience) very important - how secure is your edge with ppl you cooperate with ? I know it can sound trivial for you, you think - what you talking about, those markets so liquid etc. And how they can know what I'm doing. Not really that positive as you think. I know someone can say - I trade super discretionary, they will never know - ok, good for you. But from my experience and from observing a lot other ppl in "real" props. Those "intuition" or discretionary - that doesn't really work often, and after time usually ends not so good. The real money is made on edges from all kind if inefficiencies, mispricing, short term flows, not totally crowded markets etc. etc. You may ask - the algos should eat it by now. Depends - that can be too small, or too weird or for any other reason not that attractive for them, but for you more than enough to have good daily/weekly/monthly income. Saying that - I don't trust anyone who can see my trades if those are based on some short term flows etc. It is very easy to reverse engineering. And it happened to me, and it happened in "real" prop. And not once (and not only and even not only to me). Your strategy can be stolen, more of that - if it's really a killer - you can be even kicked out (what the point to share with the guy, if we can take it an use it nice) (yes, that also happened to me). You think semi-scam prop industry is a swamp ? You would be surprised what "normal" prop industry looked like, especially when the overal efficiency of markets increased year by year by year, making less and less and less cake to share for everyone. It is propably the most scammy and unethical enviorment I ever worked in. Unfortunately. Yes, you could make your money, that you so much want, but on the big psychological cost. Really. So I would be very careful, especially with experienced guys running that kind of "prop". You can end up paying someone for months, so he can copy/steal your strategy
For 30 years I heard traders talk of being afraid of their edge disappearing by broker, another trader, a hacker ......... "reverse engineering" it. You ain't Goldman Sachs fahchrisake. That and MM's hunting my poor little stops. Excuses, excuses.
You some another wannabe expert on forum :] ? I was making 300-500 M vol on crypto derives per month. My strategies genereted $$$ each day, each week, each month. And yes - those were stolen not once, after last time (that was finally spliting paths with company) I was cut off my soft, blocked to trade etc. just to see next days on ladders algos immitating what I was doing :] But sure - some random forum guy knows my story better Btw: I see you have very limited mind. Pushing out stops to cause liquidation cascade in crypto derivatives (so market less efficient than normal tradfi) was one of very profitable strategies (and I'm not saying it from theory) But of course - in your mind that is just another fake story ;] *Although of course nowadays in developed markets it's just a part of randomness and has no effect anymore (but I'm reffering to markets I exactly traded last few years).
Go try to be expert in other threads wanna-be I don't need excuses, as (I can bet) opposite to you I had (and still have) real results (as you should already deduct from the post you quote) Cheers
Ok no scam , how about dodgy / shady practice ?Why people call these things scams is because of real intention of these firms is to collect Test fees.... Also most of these firm after passing the test put you on a simulated account ,, so the million dollar question nobody answers is what will happen if lot of traders pass all of a sudden and all make lot of money in "Simulated funded (WTF) account. where is the money going to come from since no trades are sent to real market ?
1) Real prop firms hunt talent at own cost , not through Test fees grabs,,, it is akin to real business like GE or Meta charging new engineers a "test fee" to get a job! 2) Even their own records shows that only a small % get funded, that indicates the profits come from failed test fees 3) Just look at no of these mushrooming prop firms , all copy cat
The issue here is where does the money to those traders who get payouts come from? from failed test fees ... SO may not be legally a SCAM but a very questionable business model based on failure rather than success 1)Try and open a proper Equity prop firm in USA and see how difficult it is regulation wise 2) There are many OTC product providers in major jurisdictions like USA/ AUS/ SINGAPORE.. why have they all not started this Test fee based model? BECAUSE THEY DON'T WANT TO RISK THEIR CURRENT REGULATORY status.. Example" Oanda Prop trading is an arm of Oanda USA but it is based in Malta why?
they might listen. https://www.transmarketgroup.com/ https://www.belvederetrading.com/ https://www.gelbergroup.com/ https://dvtrading.co/ https://www.eagleseven.com/ https://www.capitalmarketstrading.com/ https://simplextrading.com/ https://www.xrtrading.com/ https://www.pntfin.com/ https://www.3redpartners.com/ https://www.hard8trading.com/