Then saving money to open an account at a legitimate place. First of all what you think you want to trade Stock, Options or Futures Legitimate ? You mean SEC regulated Brokers or FCM offering futures? If you are worried about legitimacy then tray demo on any regulated broker ( Not OTC Fx but exchange traded product ) and then if you succeed then open a "real own" account
They make song dance about how the prop firm modles are bad and practice exactly that .. see here .."To summarise, like virtually all prop firms, evaluations make up the overwhelming majority of Breakout’s revenue" https://www.breakoutprop.com/transparency-and-values/ Also no street address details no info on where regulated etc... so why are you bothering with such outfits?
To find out if evaluations make up the overwhelming majority of their revenue, if they provide details with respect to their street address and where they are regulated, etc. By the way, that post was from December of last year, almost six months ago! My focus now is on trading commodities and continuing to trade Forex pairs in my own "funded" account to transition from making over $100+ a day here and there to making multiple hundreds of dollars a day consistently. Perhaps I am right on the threshold of making this a reality—or perhaps not—buy why are YOU distracting me with a question totally unrelated to the present? Is this really the most productive use of your time? I just checked your recent posts and you seem to be into starting threads that ask questions to which no one is interested in responding (Does IB allow DRIP AT NAV - CLM ETF and Capital protected ETF, for example). Really...I hope you can find your way to spending more of your time and energy on stuff that actually matters. In any event, I wish you the best of luck.
I'm doing an evaluation account with TradeDay currently. I chose a $100K account, with a $3000 drawdown and a $5000 profit target. Maximum trade size is 10 emini's. If I pass, the next step is a funded sim account. This means that while it is a sim account, the profits are still mine and I am eligible to receive those sim profits in the form of payouts from the firm. There is no waiting months and months to receive full payouts. Payouts are allowed from day one with the only restriction being that the minimum payout is $500, and this applies to whether you are trading funded sim or funded live. After you earn $5000 in sim profits, the account is converted to a live account. What I like about Trade Day: The drawdown is measured from your end of day closed trade equity, not from the intraday equity peaks. You have a real path to trading a real live money account. If you let your profits accumulate in your funded account, TradeDay will increase your allowable trade size by one emini for every $2000 in closed end of day profits, up to a maximum of 25 contracts. Trade Day claims that beyond that they would evaluate on an individual basis to see if additional size would be granted. In short, TradeDay reminds me of the prop firm Futex made famous for giving Navinder Sarao his start. I chose Trade Day because most, if not all the other firms out there I looked into seem to have "gotcha rules" intended to prevent you from passing the evaluation or from keeping your funded account if you get that far. Trade Day really seems to be set up to allow you to grow a successful prop career. I would add, however, that none of the existing prop deals, including Trade Day, are "best" if you don't know how to trade. If you don't, then the main benefit of using a prop firm is that you lose your money more slowly than if you were trading it yourself, and you lose it to the prop firm instead of the market. It would be better to get yourself a Ninjatrader account, fund it with $50, pay the monthly lease and $4 monthly data fee and learn to trade first. If you can't run a profitable sim account, you probably won't pass a prop evaluation. And if you do manage to pass, you won't keep the funded account very long. I did a lot of sim trading in my Ninjatrader account and just signed up for the TradeDay evaluation $100K account last week. I'm not saying TradeDay is the "best" for everyone, only that I feel I did due diligence, and I feel they are the best choice for me.
I asked a valid questions and about that ETF question , Since you are interested in questioning worth of my posts ...Let me say this your hundreds of post , The so called Prop firm journey.. it seems your so called journey and the related posts they seems futile... So best of luck to you too... You so called due dilegence LOL
Consider finding a backer if you have a meaningful experience. Network in your trading community and don't waste your time on the prop numbers game. Not as easy to locate, but it could be worth the hunt. Look at Family Offices that trade - often really hungry for talent and you may establish a lifelong relationship.
Here you can find a side-by-side look at FX/CFDs brokers' offerings. https://www.financemagnates.com/for...ide-by-side-look-at-fxcfds-brokers-offerings/ Axi Select - one love!
Interesting and although they are regulated US/ AUS , the two issues I see is - CFD means you might be trading against the CFD provide unless it is truly DMA - With Axi for example ok no Test fee, great but if you blow you first contribution then it is nothing but simply a legit marketing technique to attract more clients to regulated CFD services legit marketing .. provided they do honestly fund afterwords, Market model issue remains the same though worh checking By the way with AXi or any AUs regulated " CFD brokers" You deposits are not SIPC or similar protected, you become unsecured creditor if the broker goes belly up ASIC is a toothless watchdog a broker called Sonray Capital Markets went belly up ( was a white label of none other than giant saxo!
oh by the way Oanda Prop is based in Malta not USA.. so there you go another red flag axi is supposed to be regulated in AUS but says "This content is not available for AU" something fishy why such restriction? also " Section 15 – Governing Law 15.1 These Terms, as well as any additional agreements under which we provide you services, are regulated and construed in accordance with the laws of Saint Vincent and the Grenadines" Not AUS Not to mention the Edge score could be anything that they can manipulate to decline to fund you IS THERE NO HONEST MODEL IN THIS FIELD