Are there people here who have 100k or more in their accounts? Advise me of a broker that can be trusted in the case of these large values
i think the answer must be “no”
here and everywhere else, also!
nobody with a six-figure account would or should be trading spot forex at all - they would have enough capital to trade currency futures instead, so they would not need all the horrible problems and risks of spot forex “brokers”
more information here:-
I don’t have a 100k+ account myself
How I wish
I follow tradertom.com who trades the major EUR/GBP/USD indicies in this +100k bracket. He uses TD365 broker which has fixed spreads, is.regulated by UK FCA .
Why should people keep this much money in their trading accounts?
I think the most probable answer is no.
Why are you going to trade Forex if you’ve got that amount of money? I think there are better ways to invest your money.
Just a friendly reminder! Wish you good luck!
I don’t have that much money in my account at the moment, so I’m keeping my fingers crossed that I’ll have more soon
I don’t and I wouldn’t recommend it, even if you had it to trade with.
If, in fact i did have that kind of dough to trade with, I would deposit 10k with a broker and the remaining 90k in a savings account and just risk more with the 10k.
I’m confused by most of the answers but I have been trading only since February of this year. I have managed to get 3 funded accounts and 2 payouts then blown all 3 accounts because I was rushing and using to big of lot sizes. That being said that was $500,000 of capital. I now have completely changed my mindset and positioning and only place trades at 1 lot size versus the 20-30 I was initially doing. I started with a prop firm again on a $200,000 challenge on the 1’st of April. It has 2 step verification and over what has been almost 200 trades I passed the first $16,000 profit target in 2 weeks and I have $9,092 out of the $10,000 I need to pass step 2 and get funded again. If I had $100,000 to invest I would spend $500 and pass a prop firm challenge then trade with their capital. It’s a no brainer to me. Is trading hard……yes very difficult…but my success has come in the hundreds of hours I’ve invested finding what works for me. Out of those 200 trades I made there were about 100 of me opening a trade then closing the trade over a change of mind. Rookie moves yes but getting a feel for the market takes time. I’m no pro but I’m staying profitable as long as I keep to 1 lot trades and trust my instincts. To think that people are trading and making a living off of less then $100,000 capital I can’t quite fathom but it’s clear by the comments that’s what’s happening
i strongly agree with all of your post above, anyway (apart from maybe the last 8 words!)
How much would you make in this scenario?
it depends on which funding company (they’re not really “prop firms”) you choose, but typically something between 75% and 90% of whatever profits you make trading their capital
some even allow you to keep 100% of the first “$x,000” you make, and/or refund the try-out fee if you pass
but you have to know that you’re very likely to be able to pass the challenge, to make it worth paying the fee to try (just as you have to know that you can trade safely and profitably to make it worthwhile trading your own money); it seems overwhelmingly likely - to me, anyway - that most of these funding companies actually make most of their own income from the try-out fees of people who fail to qualify for the funded accounts they’re offering
that said, there’s certainly also a small minority of people steady doing well with them, and without risking any of their own capital at all (my son-in-law is one of them), so they’re not necessarily a bad deal at all for people with trading skills but very little capital - but many people have a slightly inflated impression of their own trading skills, and they tend to be the losers with funding company try-outs, just as they are with their own money, of course
Your son-in-law, is this something he’s doing full-time? Wondering if this is something that can be done on the side but it seems the requirements are pretty intense.
Because he enjoys the high rider challenge.
so sorry, @ponponwei , i’ve only just seen your question now, 2 weeks after you asked!
i have answered it here (yesterday, when someone else asked!):-
But that’s a bit of an unusual risk, It comes from having a lot of confidence and believing in yourself and actually pretty interesting.
The pretend prop firms never give you real money, they fund a demo account. They do this for a number of reasons, one being getting around the managing money regulations and they know traders will blow the accounts. The money that is paid out to traders who complete challenges is far smaller than the money made from endless people paying money to have a crack at the challenge. It’s a business model, just look at the tightening requirements to pass each challenge as the trading float increases in size, a very high probability, if not guaranteed to fail…hence start again and pay your money for another go. It reminds me of those claw machines where it never quite picks up the prize…but nearly does and I put in another dollar…cause I think I can get it this time…$20 bucks later I give up on trying to win the $5 dollar prize.
Read the above, it’s 100% accurate, we run a training academy and the key fact is very few succeed which is why we have algos that do 99% of the work, actually no broker can be trusted, I know stories of top tier brokers deleting stops and blowing accounts, brokers who refused to send capital to originating accounts, which is why usually just let everyone keep 100% of the profits and use small micro accounts with leverage as it generates exactly the same as a funded account.