What a douchebag! If you know of any such firm, just let me know..... Otherwise, get a fucking life...
Its a good question as SiPC insurance can be really important. Probably a lot more important than most know. A look at the traders with TUCO will tell you just how important it really can be. By definition a prop firm is not retail and SiPC insurance is meant to protect retail investors from the failings of their broker. As prop traders are trading the firms money SiPC insurance would amount to nothing more than insurance against poor investment results. Best of trading to you Robert
The distinction that allows use of capital, etc. is between "retail and professional" trading firms. Retail has SIPC. In our case, we add a minimum of $10million of our cash to the traders side of the LLC (actually many times that these days) to protect the traders from each other. FWIW, Don