I have decided to write this due to retail traders thinking they have to trade their money with the risk of potentially losing it all. This week I witnessed someone I interact with on a daily basis blow £25k on his trading account which sent him to £0.
There are available prop firms that will provide you trading capital which you pay a monthly fee for. I will outline the 3 I am aware of and the benefits:
1.Blufx - They will provide a $25,000 account for $99 dollars a month with a max drawdown of 10% which the account could then close. The also offer a $50,000 for $200 a month (Cant hold trades overnight) and one for $250 a month (This one allows you to hold trades or night).
- You can only trade from 6am to 9pm.
- You cannot enter a trade from 9pm to 6am.
- The maximum amount of lots they give you to use is 1.5 lots which helps manage risk.
- You are only able to withdraw money when you surpass 5% gains on the account.
- You also have to split profits 50% with them which is fair.
- Their facebook page alerts traders of when profit splitting is due so members can witness it
- Each time you earn 5% on the account they double your account size. The maximum account size you can achieve with them is $1,000,000
- You do not account for any losses on the account.
- https://www.youtube.com/watch?v=Oy_d1gVIcOY <Youtube video showing one of their retail traders
- https://blufx.co.uk/products/
2.Samuel & co trading - They offer a trading programme which you have to pay an upfront cost for, but you can also get a $25,000 trading account from them for a monthly and a $50,000 account, but this will depend on your experience.
- You cannot hold trades overnight
- They will provide more direct training for rookies
- you split profit with them 50%
- There is a maximum drawdown limit
- They are FCA regulated which means they are 100% not a scam
- I think the maximum lot size you can trade with is 0.7 lots
- You do not account for any losses
- There are weekly and daily vlogs. There are frequent trading seminars.
- https://www.youtube.com/watch?v=D7w51VTGuxM <<<< Mini Documentary on them
- https://www.samuelandcotrading.com/ <<Website with their products
3. Audacity Capital - I am not aware of anybody who has used them so I will not provide full detail, but what I do know is that they provide a trading account for a monthly fee but you may have to go through some tests. Apparently they give you a £10k account.
>https://www.audacitycapital.co.uk/ https://www.youtube.com/watch?v=ot96cjajcZA <<<Youtuve video
All the trading is done from your home with each of the above prop firms. I know you can go into Samuel and co to trade. Also the option is sometimes there with blufx
I wrote the above for retail traders to stop trading their own money and losing it. You can trade a prop firms money with 0 risk on you with just a monthly fee. They benefit from splitting the profit with you 50/50. It may sound too good to be true but these are legit companies with offices in London & Watford which you can call into to or even visit.
I believe that you should only trade with money that you are potentially able to lose and not money that is used for your survival on a daily basis.
Ideally to trade I would suggest a £25k account to make a living.
I hope this info has helped.