Trying to understand this arcade market better, who are the big boys, what major markets? And are they regulated by anyone or wildwest?
In brief, they just give you capital to trade with, you pass an evaluation and you pay a small evaluation fee depending on how big the account capital is, once you pass the evaluation they give you the account and you are allowed to trade with 100% of the capital but there are some drawdown rules and if you reach a certain amount of losses you "blow" the account, you get like 90% percent of the profits for like the first 10 profitable trades depends on which prop firm you use and after that i think its like 50%, that's all i know about prop firms.
I do not remember. I do not have the qoualification. I just looked out of curiosity. And wrote what I remebered about the job to bring some context to thread.
When a "prop firm" "gives" you an account size of $200k, is it the notional contract size or equity to trade?
Also, I looked at Topstep which seems that the 2nd-step account (Express) is still simulated and that it needs 5 winning days of $200+ to get a payout (coming from the house directly), how do you know after having 3-4 "winning days", the simulation isn't rigged to prevent reaching 5 days?
The big criticism about these "new mushrooming prop firms" including even established one like TST or FTMo is1) Test fee hamster wheel 2) deceptive marketing is 50 /k real 50 K etc 3) constant marketing ( real firms attract talent they don't have to go advertising 4) Why even after "Funded" it is still Demo? where does the money come from for winning traders if trades are only on Demo..? million dollar question... on the other hand "First loss type props" are more transparent and the top tier are always there heavily regulated .....