Funding an account or purchasing a prop firm

@headies25284 - 4 months ago

I have 100$ to trade, I’m thinking whether to fund the account and trade or purchase a prop firm, pass it and make withdrawals. Which one is better? Thank you

0

1

S

@skyfall - 4 months ago

Quoted - headies25284

I have 100$ to trade, I’m thinking whether to fund the account and trade or purchase a prop firm, pass it and make withdrawals. Which one is better? Thank you

I don't trust prop firms in general, it is nothing like actual trading, and it is just a demo account. And I'm even more skeptical about a no name prop firm. Prop firm business is unregulated, so any scammer can start it. Not to add how the terms are skewed against real traders.

0

1

H

@headies25284 - 4 months ago

Quoted - skyfall

I don't trust prop firms in general, it is nothing like actual trading, and it is just a demo account. And I'm even more skeptical about a no name prop firm. Prop firm business is unregulated, so any scammer can start it. Not to add how the terms are skewed against real traders.

Thank you for taking your time to respond. Your response has been noted.

0

Y

@yokoyi - 4 months ago

Very important what @skyfall said about scammers starting prop firms. Trading is based on technology and servers can be tweaked and compromised to the disadvantage of traders. This is why regulation exists to check these grey areas. With prop firms they can choose to manipulate your trade anytime so you are at their mercy

0

1

H

@headies25284 - 4 months ago

Quoted - yokoyi

Very important what @skyfall said about scammers starting prop firms. Trading is based on technology and servers can be tweaked and compromised to the disadvantage of traders. This is why regulation exists to check these grey areas. With prop firms they can choose to manipulate your trade anytime so you are at their mercy

Prop firms can really do that? I’m actually just hearing this for the first time about prop firms

0

1

Y

@yokoyi - 4 months ago

Quoted - headies25284

Prop firms can really do that? I’m actually just hearing this for the first time about prop firms

Yea, to me trading with a prop firm is like intentionally trading with a scam broker and hoping they dont scam you. Nothing stops a prop firm from scamming you because they are not answerable to any legal body suchh as a regulator.

0

L

@lawanf - 4 months ago

Prop firms may be great to some people but to me they are glorified ponzi schemes. They hope you fail and buy another challenge. Its a simple business model, use money from failed challenges to pay the few who pass. How can you pay money to be given a demo account? Some dont even earn anything from spread cos they are affiliated to brokers so all their prayer is that you fail and buy another challenge. Thats no way to live your life

0

M

@maasai_princess - 4 months ago

Its really difficult to answer and sincerely I dont blame anyone who chooses to do either. To make any reasinable profit from trading you need to do big lot sizes and most people cannot afford the margin for big lot sizes. This is why they go to prop firms, and today prop firms are becoming cheaper and cheaper some challenges now go for as low as $5 (but with several conditions attached)

0

1

H

@headies25284 - 4 months ago

Quoted - maasai_princess

Its really difficult to answer and sincerely I dont blame anyone who chooses to do either. To make any reasinable profit from trading you need to do big lot sizes and most people cannot afford the margin for big lot sizes. This is why they go to prop firms, and today prop firms are becoming cheaper and cheaper some challenges now go for as low as $5 (but with several conditions attached)

Thank you for being honest.

0