Well, after spending about 30 hours reading every single thread and post on here (literally )about Prop firms I am no further then when I started. After reading posts about Les, tuco, etc. I am thouroughly afraid to even fund an account with a prop firm. What should I be looking for? A SEC registration # or something? Just because they are registered are they any more solvent? Or their financials are just public? Does requiring a S 7 or 56 mean they are registered? Are any Prop firms SIPC insured? Are there any Prop firms where if another trader blows up himself and the company I will still get my money back? The one year lock up is a SEC rule? I am assuming K1 is better then a 1099 for losses? I've posted regarding experiences with Lake Street and Braod Street with one response. Are these firms Taboo? When I was reading Broad Street's trader agreement I noticed in the fine print it says my funds would be used in case of another Traders blow up. Also, they said I need a 56 but then it says they are not FINRA or NASD registered. It also said they can hold my funds for any reason with respect to payouts. Is that normal? Are any of these firms taking on any risk at all? Or are they last in line to pay up on a blow out? When we sign the contract are we at the mercy of these people? Can they just hold our profits and payout when and if they feel like it? Do we have any recourse or are we completely bound by the contract? Just when I thought I had a grasp on what to look for I feel totally lost as how to asertain the correct information. What are the top tier firms( in your opinions)? I do not want to have to worry about payouts or some other traders blowing up and the firm using my capital to fund their losses? What firms are not necesarliy top tier but where one does not have to worry about money and payouts? I am at the point where if I do sign with one of these firms I feel I will have to record every phone call and conversation and take screenshots or pics of my balances just to protect myself. FYI: I would be remote. Must have buy call/put options abvailable to me. Don't need training. Would trade my own style not theirs. The max I would be willing to fund with is 5k. Someone please guide me on this? Thanks a lot.