what is a prop trader?

Hi guys

I guess my bigger question is if you have to put out 5000 or more of your own doe, what is the benefit of being one vs just trading ur own account? thanks

From my understanding:
-direct contact with other traders (can learn from the experienced)
-trade different securities (interest rates)
-access to news feeds etc
-training
-a big account to play with if you are good

They'll usually match your 5k with xx amount of $$ on their own, and on top of that you get the whole leverage benefit that comes with the FX market in general. EG you invest 5k, they give you 25k plus margin. Payouts vary from shop to shop; some as low as 20%, others up to 90% of your net profits. If its an investment shop (hedge fund, etc) they supply you with all of the capital, usually with a benefit of investing in the fund, but your payout is significantly lower as you're trading other people's investment $$, not just the firm capital. Best I have seen is 30% in a case like this paid to the actual trader, and that's very rare.

Shrug. Wish we had a trading firm here in town, be a great way to fast forward the learning process.