Prop firms in forex?

[kingye02@!]

What is everyone's thoughts about what prop firms will do in the forex market now that Metatrader is shutting them down?

[AbeLincolnBart]

Sorry to be a bit negative about this, but..., unfortunately ---

REAL Prop firms are only legit in the hedge fund space.

The "Prop" firms you read about on YouTube and in tons of scammy courses are "bucket shops" that keep teasing people with the dream of returns while charging the "prospects" huge fees for challenges with unending crazy rules that are designed for your failure, not success.

If you have a real track record trading REAL money; even if it is $10k over a period of a year or two-- you have an extremely good chance at getting sizeable money to trade. You could easily interest someone you know with excess capital to trade a joint account with favorable percentages going to you - the trader.

Legitimate Hedge funds will be interested in anyone who is definitely trading with an "edge", and can execute flawlessly over a long period of time.

Believe it or not, if you can consistently gain ~ 20 to 25% returns annually -- you are the Holy Grail they are looking for.

I know this because I traded/managed fund money consistently for 25 years.

Finally decided to just trade my own capital. Maybe less profitable, but ALSO less hassle.

AbeLincolnBart

[noob14]

^what AbeLincolnBart said

Also - prop firms are in the business of making money off their clients...coming and going.

They know most of the people that sign up for their challengs are *horrendous* traders, so they'll B-book their trades on the other side.

And if someone *can* pass, they generally make it tougher to withdraw for anywhere for 30-90 days (though some are getting better about it). This is so they can see if you're legit or got lucky - because if you're legit, they attach copy traders to your account on the back end to copy all your trades since you now have a track record of being profitable.

That's the business most prop firms are actually in.