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Funded Traders - Pros n Cons

  • #1
  • First Post: May 6, 2016 7:05am May 6, 2016 7:05am
FUNDED Traders. Pros n Cons.

Haven't been posting much for a while. My time has been taken up with passing combines (trials) for a couple of prop' firms that fund traders, allowing them to trade with lot sizes most only dream of.
There are quite a few prop' firms out there but I've only found 4 worth bothering with. The rest are just rip offs designed to siphon your bank balance dry.
Three worth the time of day are futures only. The other is for forex which will be of interest to FF members, most of which trade forex only & do not have adequate equity to ever make progress trading.
Look Left Trade Right
  • #2
  • May 6, 2016 3:18pm May 6, 2016 3:18pm
Quoting Basill
FUNDED Traders. Pros n Cons. Haven't been posting much for a while. My time has been taken up with passing combines (trials) for a couple of prop' firms that fund traders, allowing them to trade with lot sizes most only dream of. There are quite a few prop' firms out there but I've only found 4 worth bothering with. The rest are just rip offs designed to siphon your bank balance dry. Three worth the time of day are futures only. The other is for forex which will be of interest to FF members, most of which trade forex only & do not have adequate...
"with lot sizes most only dream of" ??
  • #3
  • May 6, 2016 4:29pm May 6, 2016 4:29pm
​Hi I am looking to start a funded career for the moment with a prop company with specifically Fx. could you share your experiences and companies for my benefit please as there are so many?
  • #4
  • May 7, 2016 7:20pm May 7, 2016 7:20pm
Quoting vasily
{quote} "with lot sizes most only dream of" ??
Correct me if i'm wrong but I think you will find most forex traders with "Live" accounts have never traded above 0.10.
Look Left Trade Right
  • #5
  • May 7, 2016 9:10pm May 7, 2016 9:10pm
Quoting Basill
FUNDED Traders. Pros n Cons. Haven't been posting much for a while. My time has been taken up with passing combines (trials) for a couple of prop' firms that fund traders, allowing them to trade with lot sizes most only dream of. There are quite a few prop' firms out there but I've only found 4 worth bothering with. The rest are just rip offs designed to siphon your bank balance dry. Three worth the time of day are futures only. The other is for forex which will be of interest to FF members, most of which trade forex only & do not have adequate...
Yeah Basill, I went to one that reckoned they could let their traders use the 1000 lot in each trade. Mind you it was for the futures market. When they said it I just sat there dumbfounded..
Gotta get there!


So Basill, who's on your list? Topstep being one? and you said that top50fx one before... who are the other two?
  • #6
  • May 7, 2016 9:52pm May 7, 2016 9:52pm
unfortunately... top50fx looks like one of those dubious fintech sprouting all about....

- unprofessional website.
- totally unreasonable requirements in trial settings.

you probably end up giving free money to them for a demo account. they will pocket that money, and you end up losing that trial, all the time.. or missing their qualification requirements, all the time....

good luck with it
  • #7
  • May 8, 2016 1:06am May 8, 2016 1:06am
Where's the list though Basill? You said there were 4? Also where were you generally looking, I mean what country are they based?
  • #8
  • May 8, 2016 1:47am May 8, 2016 1:47am
Yep, lets have some names.
  • #9
  • May 8, 2016 5:09am May 8, 2016 5:09am
Quoting belgeran
unfortunately... top50fx looks like one of those dubious fintech sprouting all about.... - unprofessional website. - totally unreasonable requirements in trial settings. you probably end up giving free money to them for a demo account. they will pocket that money, and you end up losing that trial, all the time.. or missing their qualification requirements, all the time.... good luck with it
Hmmm. where do you draw those conclusions.? Care to elaborate.!!
Compared to Topsteptrader I find the trial requirements quite lenient.
Combat crazy markets with crazy trading
  • #10
  • May 8, 2016 5:14am May 8, 2016 5:14am
Quoting Basill
FUNDED Traders. Pros n Cons. Haven't been posting much for a while. My time has been taken up with passing combines (trials) for a couple of prop' firms that fund traders, allowing them to trade with lot sizes most only dream of. There are quite a few prop' firms out there but I've only found 4 worth bothering with. The rest are just rip offs designed to siphon your bank balance dry. Three worth the time of day are futures only. The other is for forex which will be of interest to FF members, most of which trade forex only & do not have adequate...
I like the look of this from a Forex view point. Should suit most trading methods.
Took a look at the Futures props' & the close before days end every day restricts my style, but I guess these rules are there to find elite traders & eliminate run of the mill.
Combat crazy markets with crazy trading
  • #11
  • May 8, 2016 5:37am May 8, 2016 5:37am
Quoting Basill
{quote} Correct me if i'm wrong but I think you will find most forex traders with "Live" accounts have never traded above 0.10.
change from person to person.my dream size is 500-1000 lot/trade
  • #12
  • May 8, 2016 6:28am May 8, 2016 6:28am
Quoting CrazyOz
{quote} Hmmm. where do you draw those conclusions.? Care to elaborate.!! Compared to Topsteptrader I find the trial requirements quite lenient.
I thought they might add more after the initial trial stage. Don't you think it looks too easy?
  • #13
  • May 8, 2016 6:41am May 8, 2016 6:41am
Quoting davidbaxter
{quote} I thought they might add more after the initial trial stage. Don't you think it looks too easy?
Add more.? how do you mean.?
Too easy.? They are searching for "Talented" traders so I doubt it will be too easy.
I'm keen to give it a try. Don't know if I'm talented but I think I'm better than average. Whether that's good enough. Time will tell.
Combat crazy markets with crazy trading
  • #14
  • May 8, 2016 6:56am May 8, 2016 6:56am
Quoting CrazyOz
{quote} Add more.? how do you mean.? Too easy.? They are searching for "Talented" traders so I doubt it will be too easy. I'm keen to give it a try. Don't know if I'm talented but I think I'm better than average. Whether that's good enough. Time will tell.
I'm saying "more lenient than Topstep" is pretty difficult for a company that still ?wants to be taken seriously and get good results from their traders. I feel like Topstep sets a good bar for a remote trader prop shop. Also my list, not that anyone asked:1, Propex in sydney Australia is the dream job (no remote trading without years of experience.2, Tradeview investments in melbourne are a Forex based, automated focused prop firm that allows for remote traders.3, Topstep Trader, has all the perks of a well funded remote trading firm (fantastic profit split, along with very reasonable funding accounts).4, Surcap from UK I tried for but never got any emails returned and they refused to cancel payment subscriptions.5, Maverick FX in USA looked like an interesting one. No info on that.. There was one more that caught my eye a while ago I'll have to go and find it.Anyone have the same on their list?
  • #15
  • May 8, 2016 7:58am May 8, 2016 7:58am
Quoting CrazyOz
{quote} Hmmm. where do you draw those conclusions.? Care to elaborate.!! Compared to Topsteptrader I find the trial requirements quite lenient.
sorry.. i'm drawing conclusions from my interpretation, so it may not be true...
best you ask what's the actual requirement if ye interested
- like what's the starting base..
- what does it mean risk management...
  • #16
  • May 8, 2016 8:19am May 8, 2016 8:19am
Quoting Basill
{quote} Correct me if i'm wrong but I think you will find most forex traders with "Live" accounts have never traded above 0.10.
Hi!

completely agree on that.
I have had only experience with TST. They seem to be good. I'm planning to go for a 50k combine in September or so, after the summer period, which is usually quiet. But still I would be interested in your list of 3.

Cheers,
Tom
  • #17
  • May 9, 2016 12:26am May 9, 2016 12:26am
Been busy over the week-end corresponding with Top50Fx.
They are basing their criteria on $100,000 accounts with an allowed DD of 2%. They will allocate accounts appropriate to that DD which prevents traders from over-leveraging the accounts & also gives them a safety valve in case of a rogue trader blowing the master account.
Personally, I'm quite happy with their response & qualification criteria.
I asked them if they would be prepared to join FF & post a thread.
Interestingly, they informed me they have been trying to do just that but are finding it impossible as FF are keeping them locked in at "Junior" status despite having posted over eight posts. The normal is only four. ... Go Figger.???
They do realize they will be secluded to the "Commercial" sector.
However if they can't reach out to the members & offer them an opportunity of a funded trader account they are just going to pull the plug. After-all, most members in the commercial sector are only there to peddle their dubious "signal" services etc.

As for the funded trader firms I have been associated with & prepared to approve.
There are three Futures firms. MES Capital, Topsteptrader, & Savius.
The Forex one is Top50Fx-FunderTrader.
Look Left Trade Right
  • #18
  • May 9, 2016 5:45am May 9, 2016 5:45am
The thought crossed my mind.
There are a large number of commercial members here on FF who portray themselves as great traders, mentors, signal providers, managers with nothing to back up there claims.
Here's their chance to prove themselves. To show the community they can cut the mustard & make real money from trading.
There are also many traders trading 10 cent accounts, lacking equity to get ahead & build their accounts up.
Combat crazy markets with crazy trading
  • #19
  • May 9, 2016 1:46pm May 9, 2016 1:46pm
for me to move my career to the next level I need backing. I am focuses on Fx so I'm looking at doing the top50fx trial. Is there anybody else who has had experience with them? If so what equity did you trial and% target did they set you? I'd work in a company but I cannot find any within travelling distance around Manchester UK. Difficult as it seems like the North is vastly behind on such careers and instead to gain a place in a firm and progress in a company you would have to relocate to London. This is why I am looking at funded remote trading as the right path for me without funds of my own to support me as a primary income.
  • #20
  • May 9, 2016 2:58pm May 9, 2016 2:58pm
Quoting trader1988
for me to move my career to the next level I need backing. I am focuses on Fx so I'm looking at doing the top50fx trial. Is there anybody else who has had experience with them? If so what equity did you trial and% target did they set you? I'd work in a company but I cannot find any within travelling distance around Manchester UK. Difficult as it seems like the North is vastly behind on such careers and instead to gain a place in a firm and progress in a company you would have to relocate to London. This is why I am looking at funded remote trading...
As Basill said, MES Capital is a good one and so too is topstep, try maverick FX in the states. I haven't because I'm going focussed on futures as the moment.. there are plenty of lists that describe prop firms on Google, to help find a career. Just look up remote proprietary trading firms. You'll get heaps of hits.
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