Forex Prop Trading Firms

Hello all,

Tony back in the house…

I’ve been trying hard to research whether there are any FX prop firms out there. So far, very slim pickings.

The way the game goes, it seems that most prop houses in NY do stocks, most Chicago firms do futures, but I have yet to discover a firm that does OTC FX.

Personally, I’d like to find a prop house that offers solid in house education, and is not heavily quant/algo oriented. My problem is that so far, the only options out there would force me to be a stock day trader. I guess its okay because you can trade whatever moves, but it would be preferable to stay with FX if I could.

I suppose I could still continue trying to self-teach myself FX, but it seems that prop houses have one big advantage - you get to sit and work with experienced traders, which I think is a big plus. I think that shortens the learning curve quite a bit. Another advantage is you can work from a larger capital base, which lets you earn more right away. You can earn your stake this way, get the experience you need, then once you have a solid six figure account, go out on your own. Also, I would imagine they have some medical insurance benefits as well.

Of course, I can also go the i-bank route, but there you end up getting coffee for at least a year, and you may end up getting stuck doing some structured product nonsense or government paper, plus they are very big on math these days (which I am okay at, but by no means a wiz).

Any thoughts appreciated…