How to Trade for Prop Trading Company?

To start trader career for Prop Trading Company, you need to find proper company. Usually Prop Trading Firms offer different stages for new registered traders.

Practical Assessment (or Challenge Ability)

At this stage the competence of the trader is assessed with the trading demo account. Payment terms and access times may vary in different companies.

To get funded with live account, user should achieve the specified trading objectives (% profit target, win rate>%, with no extreme risk) and should not exceed the Maximum Loss Limit (% of the account starting balance). Traders can use any trading strategies, EAs and bots.

Various trading instruments are available:

• Forex (EURUSD, GBPUSD, AUDUSD, NZDUSD, USDCAD, USDJPY, USDCHF, AUDCAD, AUDCHF, AUDJPY, CADCHF, CADJPY, CHFJPY, EURAUD, EURCAD, EURCHF, EURGBP, EURJPY, GBPAUD, GBPCAD, GBPCHF, GBPJPY, etc.)
• Equities (Major Indices: ASX200, US30, FRA40, GER30, UK100, EUSTX50, NDX100, JPN225, SPX500, US2000, HK50, SWI20, CAN60, NTH25, etc.; Index: VIX, USDX, etc.)
• Cryptocurrencies (High Cap, Mid Cap, Low Cap, Crypto Crosses and Crypto Index)
• Stocks
• Etc.

Risk management limits are usually clearly described and represented in table view, which shows the dependencies of the target profit, Max Drawdown, etc. on the account size.

So that users should prove they can trade the financial markets.

Trading Funded Account

Once user completed the first stage, he will now be considered as a competent trader and be provided with a live funded account with the same account size.

Different phases with various balances and trading objectives can be set for one plan. Once user achieves the objectives for one of the phases, he can sale up his account size.

In many companies this process is made manually. This means that the user has to send a request to move him to another phase. Funded Prop Trading Panel allows to do this automatically. The system tracks when the user has reached the target profit or other conditions specified in the trading plan, and automatically switches the user to the next phase.

The number of phases in the plan, the necessary conditions for switching between phases, the cost of the plans are determined by the prop trading company.

Funded Prop Trading Panel allows you to configure plans in detail and provides clear statistics for traders and managers.

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