Are there legit prop firm?

Trading Discussion Prop Firms
1

Hi everyone, I am wondering if trading with a prop firm is a viable option. I have heard about a few but have seen that there are scams and as I do not have money to fund my own account I most certainly do not have to waste on a scam. So does anyone know of a legitimate prop firm that I can trade remotely from home with?

P.S. I realize that there are rules to stick to when trading this way and I have accepted this, so please only answers with personal experience with these firms. Thank you

2

Try TopSteptrader, Apiaryfund and T-3. I don’t work with any of these firms. I don’t use the word scam with regard to these firms. The issue is I don’t think these firms are where you should learn to trade because you are essentially paying them as you fail. Their training combines are helpful but they cost real money as you trade fake money in a demo account. IMHO, your plan should be to give these firms a try AFTER you’ve become a consistent earner. Set a goal for 20 to 30 pips a day (forex). Trade every day and perfect your system until you are consistent, then look them up.

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3

Hi, thanks for the response. My purpose for searching for a prop firm is not to learn as I agree with you that would prove very counter productive and a waste of money. My intention is to get a hold of large amount of funds because i do not have enough funds to make a living from my profits and I do not have a job (still at university) so I cannot take out a loan to pay off.

4

Basically my plan is to trade my small account until I get enough profits to pay the one time fee (preferably) to do the evaluation and get the funds from the prop firm which I will then save a portion of the profits I can withdraw every month until I have enough funds to leave the firm and trade on my own to make a living . This is why I want to confirm that the firm I am paying is not a scam and the only reason I cannot receive the funds is if I am not a good enough trader rather than them scamming me out of my money .

5

I’ve attempted combines twice on free promotions. Some of these firms are so difficult that the realistic amount of time and money one should expect to invest is three months, IMHO. At this very moment, TopStep is granting free practice accounts for a limited period. However, progress in the practice account does not count in any way toward qualifying you. Still, the practice account experience will allow one to get comfortable with their software and the standards required to get funded. I am a MUCH better trader after trying these free promotions. Also, remember, you can trade for several firms simultaneously.

6

just came across this thread here and i wanna throw this company into your consideration …

different funding models … cost of evaluatiuon will be refunded…check FPA for some reviews or try the free trial to see if u are fine with the limitations
greets and a happy quarantine easter :wink:

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7

Detailed review of TopStepTrader and similar firms and my honest opinion why they will not help you to start with a bigger capital: TopStepTrader Review

Not a scam, but not the kind of help people think they are getting.

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8

Thank you for the reply, will check topstep out

9

Hi, thanks for the reply. I already know about FTMO, but I am skeptical because when I checked the reviews out, all the positive reviews were posted by people who started their accounts that day and had not posted anywhere else and the reviews that were by people who had been posting on other topics for a while were very concerning to me. Thank you anyway though

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10

Hi, thanks for the reply. I will check them out as well

11

Hi, give us an update please? How are you doing so far NewTrader?

12

I agree with you. This information seems very valuable to me.

13

For new Traders that are curious and planning on getting Prop firm challenges, I’d recommend Maven Trading.
I have personally bought and passed a challenge with them.
They have series of challenges you can try out so please take your time to go through each and everyone of them and understand the rules of each challenge, Their payouts are processed within 48 hours and they have a really good support system in case you have an inquiry.

14

It is safest to trust only those firms that have a long and stable history, as well as a good reputation in the industry. Just read the reviews.

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16

Thanks alot man.

17

I think that’s exactly right. Well, TopStep has been around for more than a decade now, has paid out a fortune, has seen off a lot of imitators during that time and has even won US government department awards for industry. They also now have really simplified rules.

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