“Information”? Definitely… Posters want information from traders that ARE using Prop Firms to trade these markets… At the very least this YouTuber is transparent about his promotional affiliate links…
Which is more than can be said about a few posters in this forum…
The few people I know who are potentially interested are certainly not looking for incentivized recommendations based on affiliate links!
There we’re on exactly the same page (it even looks like that’s a big part of why the forum’s losing members and activity, when you look at what people are saying in the Feedback section about exactly that, when they leave).
How much learning can you get from a prop firm? Are they met more for traders who’ve been doing it for a while and already have a system in mind? Or do they just need willing bodies, but of course with some trading experience?
I would suggest both categories are useful to a prop firm. They gain from both. Profit share from the former, fee income from the latter? Its just business…
Some offer almost no education, say so openly, and stress that they’re looking only for experienced traders.
Others offer a range of educational packages (some included free, others as optional extras).
At least one has a very-low-cost “education-only” service where you don’t even get the evaluation/funding-challenge (other than as an optional extra) but just the education.
I agree with you. Futures funding companies might also be attracting slightly better traders overall. Because Forex is so heavily advertised, there is a huge influx of newbie traders. It’s not that Forex traders are better than futures traders, but there are more newbie traders choosing to start with Forex rather than futures because of the promotional campaigns by FX companies.
Yes, a bit more. That’s less so, these days, though, because of the micro-contracts on indices, with low intraday margin requirements. But still the answer to your question is “yes”.
They can, but realistically you need a minimum of about $250 to trade even 1 microlot (0.01 lots) safely, with reasonable risk management. Virtually everyone (certainly more than 99%) opening a $100 account is going to lose the $100.
What do you think about futures accounts? More than $250 to get started? Probably more if you say $250 is the minimum for forex, but futures require even larger amounts.
I just looked, and AMP brokerage will apparently let you day trade 1 lot of the S&P-micro (“MES”), which moves at $1.25 per tick, with margin as low as $40 in your account. But I wouldn’t dream of it and would want far more.
Maybe I’m old-fashioned but instinctively I don’t really think anyone should even be day trading MES safely with much under $1,000 (many people would suggest a lower figure, I know).
Oh good to know. I’m seeing ads everywhere to open a futures account if you trade forex. I’m trying to learn more about futures trading and what are the benefits over a regular forex broker.
Almost nobody who can do this profitably, long term, would choose voluntarily to stay with spot/CFD forex, when they could so easily switch to forex futures and have far better and safer regulation, a genuine broker who wants them to win, not lose, far better protection of funds, high leverage, no spreads to pay, and the ability to trade in a transparent, honest market in which all brokers have the same prices at the same time, rather than just betting against a counterparty on the price-movements of the counterparty’s own “products”!
They’re not financially involved in the outcomes of your trades, though, and this is one of the key points from which everything else follows. They want you to win, not lose as a forex “broker” (who is actually the counterparty) wants.
Fees vary slightly (usually really only “slightly”) from broker to broker, according to how often you trade, and this kind of thing. But overall, for any profitable trader, it works out way less expensive than paying a “spread”.
People wrongly imagine that you need to learn “a whole new thing” to trade futures.
People know that more serious/successful traders are trading futures and often think something like “I’m only a small, retail trader, it’s maybe not for me.”
People have out-of-date information and don’t know that you can now trade MYM/MNQ for $0.50 per tick and MES for $1.25 per tick (this one is actually much safer!) and still imagine they’d need thousands to start.
People really, really don’t understand that when they “trade” spot/CFD with a “broker,” it’s not a real broker, and no currencies change hands, and the whole industry’s set up for them to lose, and they get confused by all the nonsense-terms like STP/NDD/ECN that forex “brokers” use to try to fool people.
It’s one I wouldn’t touch, myself, after everything I’ve read and heard about it. But all my information is second-hand and I have no experience with it, so my only honest answer is “I don’t know.”
thank you so much buddy, for your response. I am a college student currently in 3rd year (i.e 1 year left to get my graduation degree). and i am really interested in forex trading and excited to make my career in this, I do demo trading from last 3 months. then how i entre into the forex trading with real money, which is the right time to enter in it?