Guide To The Best Remote Proprietary Trading Firms
Forex Blog Articles
Best remote prop trading firm that suits your goals and needs
In order to give yourself the best chance of succeeding, you need to make sure you pick the best remote proprietary trading firms that will work well with your personality and trading style.
If you end up choosing a firm that doesn’t line up with your needs and strengths, the goal of success will become even more difficult to achieve.
Trading is hard work. From tireless preparation to extensive education and practice, top traders work just as hard as any other professionals to reach the pinnacle of their professions. For those looking to become prop traders, this tireless work level can be even more intense.
When prop traders trade remotely, they give up the existing structure which brick and mortar firms provide. Gone are the set hours and rules required by employers. For a prop trader to succeed, self-discipline is absolutely necessary and a strong mental game is essential.
That’s why we’ve put together this useful guide to help you find the proprietary trading firm that’s right for you. With some thorough research and self-understanding, you’ll be in an ideal setup in no time.
What to Look for When Deciding on the Right Prop Firm
While most prop firms allow traders a great amount of flexibility, some have more restrictions than others. Therefore it’s important to make sure that whatever the restrictions are, that they align with your unique trading strategy. If the restrictions don’t fit with your trading plan, will you be able to modify your strategy to fit in with the fund’s rules?
Like almost everything necessary to capitalize on an opportunity, there’s usually a financial cost. Some prop firms are more costly than others, while some have hidden costs that are not easily seen.
Bundle all of these elements together and you should be able to identify the best remote prop firms according to your needs.
Weigh all of the trading restrictions along with costs and find a subscription model that works best for your financial situation.
If you can find the sweet spot between these three key elements, you’re well on your way to trading with a firm that is right for you.
When researching firms, you’ll generally find 4 models regarding subscription costs.
- One time fee – As the name suggests, this is a cost structure that asks for a one-off price to join with no further costs as you proceed and progress in the program. This fee is necessary to ensure the minor risk the fund is willing to take on with you while you work your way up and prove your trading skills. This is actually going to be your test to prove your ability, in most firms, you will trade on a demo, but there are firms, you’ll test on a real account like the5ers, and if you succeed, you already make money.
- Subscription – This payment model relies on a monthly fee in order to stay on board and trade with the prop fund. But as we have mentioned before, there are companies that only request a one-time fee.
- Proprietary trading fee – This model is used primarily by the old-school prop funds. It’s a model in which the trader is actually funding his or her own account. If and when they perform well, the fund will allow more leverage based on the initial deposit and recent performance.
- Free – This model is for in-office traders who can prove a long history of consistent trading in professional funds. This setup usually involves being employed at the in-office fund, committing all your daytime hours to the fund office. The big problem, of course, is that you have to reach the office itself, And you don’t have the benefit of flexibility, like with other firms.
Advantages to Trading for a Remote Prop Firm
- Small participation fee – As we explored above, there are several different types of participation fees and they are almost always a much smaller cost than investing your own funds in a private broker.
- Quick capital increases – One of the best benefits of trading with a remote prop fund is getting more trading capital and market buying power. If you show solid consistency, you’ll gain access to more capital than you actually earn, in order to make even more profit for yourself and for the fund you work with.
- Take profits home – Unlike if you were trading your own broker account, when you earn with the fund’s capital, you will be paid for your gains. The amount will be deducted from your growing account.
- Zero liability to losses – For many people, this is the best benefit to trading for a remote prop firm. When you trade for a fund, you will never be asked to pay for any losses taken to the account. The fund understands that losses are part of the trading game and you allowed to take them up until a predefined level.
Advantages to Trading for The5ers
- Real money evaluation – The5ers is the only firm on the market that conducts the evaluation phase with real money and not a demo account. This means that if you pass the test, all the money that you earned during that first phase will go back into your account. Compare this to other firms that only open up a real money account for you once you’ve passed their entrance test.
- Trading Flexibility – At The5ers, we allow continuous trading 24/5. It’s possible to Hold overnight, over the weekend, and even hold through economic news releases. This allows our trader’s freedom to engage in almost every trading strategy.
- Easily reached milestone targets – From day one with the5ers, you’re given easy and achievable trading targets and objectives. This means that you can progress faster within the program and not worry about unattainable goals.
- Monthly payout guaranteed – There is no fine print on this one. Guaranteed monthly payouts for all positive profits.
- Non-deductible – Payout is not deducted from milestone growth.
- 2x growth – Double your account every time you hit a 10% growth in your account.
- On-time fee – After that, there are no further costs ever.
- Affordable – The5ers offers the lowest participation fee in the industry.
- Support – Fast and efficient human support every time you need it.
Summary For Best Remote Proprietary Trading Firms.
Now that you’ve gone through this quick guide, you should have a good idea as to what to expect when you trade for a remote prop firm.
If it sounds right for you and you’d ready to enjoy all the freedom that the least restrictive prop trading firm offers.
we suggest you take the next step towards joining Remote Proprietary Trading Firms.
In no time you could be getting paid monthly and no minimum threshold, and be moving up quickly on the growth scale.
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