LMI - can prop firm really take the risks and share the profits fairly?

Like many other traders I first started with binaries, then moved to forex and yet I don’t feel satisfied with the results. Forex was better for sure. I like trend-following systems actually and have enough patience to wait for a decent profit target, and this is why it fits me better.
But I’ve ran into another trouble here. The size of my initial capital. I’ve heard real pros don’t risk their own money, but who’s gonna give you the capital if you don’t have all those licenses and a good enough track record that can be used as a proof. With PAMMs you can’t realy gain a good size of a capital to trading with at once. It takes years to attract enough capital to trdade and make a lliving with profit split. .
LMI is the prop that I find to have the best profit split (80/20, where 80% belong to trader) but I’m afraid that the only thing they care is for traders to pay for practice and make them fail afterwards.
Did anyone here worked with LMI or any other prop firm? Is the method actually working or its a scam of some kind?

Yes, They give you a 10K account, but if you lose 500$ they close your account, so in reality you only get a 500$ account.
I really like the part that you have to pass a practice session and then a qualifying session, and you can restart the session if you pay, 100$ for practice and 120$ for qualifying.
There is probably someone out there stupid enough to pay 600$ or 700$ for a 500$ account. :crazy_face: :crazy_face: :crazy_face:
So in the end even if you pass everything first time. seems like the 10K is 70$ subscription cost, you will get 430$ but then you will have to give them part of the profits.
For me i would save 500$ and open a account, and all profits would be for me.

Check put Apiary Fund *(apiaryfund.com). Scroll through the website and if you are interested, give them a call and ask your questions. If you pass through their training program (no charge for training) you can trade their money. IMO, honesty and sincerity is what makes them different.

It’s true from the math perspective. Yet, trading with prop firms has got a different purpose. People use these practices and qualifying sessions to lower the risk of their daily trading routine with the perspective of getting some real money to trade with. Demo can’t give you this feeling that you risk something.
So basically, for $70 you don’t simply get the chance to get $500, but you get the experience of trading under the pressure of real money loss risk. Futures trading is about relatively big money. $500 can be lost in just one trade. It’s only 50 ticks away from the entry for the majority of the assets. So yeap, you can invest your own $500, but the pressure can be too big in this case. If $70 is more of an affordable loss, you can pay this money for the experience and trade safely for 2 weeks with the hope that if you stay disciplined enough, you will keep trading in the same manner having the real funds on the account.
So yeah, its important to understand that you don’t get 10K for real, but you pay prop to trade safely with limited daily risks and limited max drawdown. And in the end you can trade with their capital in a safe manner. Hopefully later you will be able to withdraw the first profits, open your own account, and keep trading IN THE SAME MANNER. That’s the biggest point about this quest - to train yourself to manage risks and money PROPerly :slightly_smiling_face:

Firms like these tend to make the best attempt to allure you by giving the claims on high profits through maintaining high leverage. I won’t say that it is not possible, but that hold a lot of risk. It’s like you are keeping a lot on stake in order to focus on quick profits. So I would suggest you to think twice before making the final decision.