Prop Firm Hub

Purple Trading’s Prop Firm Fintokei Pays Out over €4M to Traders in 2024

Thursday, 12/09/2024 | 10:10 GMT+2 by Damian Chmiel

1. The proprietary trading company is processing 400,000 transactions per day.
2. Moreover, the number of active traders surged by 175%.

The Fintokei team at Invest Cuffs 2024 in Krakow
Fintokei, a proprietary trading company, has distributed over €4 million to its traders so far this year. The prop firm, which runs under the Czech-based Purple Trading retail broker, now processes more than 400,000 trades daily through its infrastructure.
€4M Payout and 175% Increase in Traders
The average payout for successful traders stands at approximately €4,000, with the largest single payout in the Czech Republic reaching nearly €40,000. Since the end of 2023, Fintokei has experienced substantial growth across key metrics, including a 175% increase in traders, a 195% rise in purchased evaluation accounts, and a 180% surge in overall turnover.
David Varga, Co-Founder of Fintokei and Purple Trading, Source: LinkedIn
"The 4 million EUR payout to our traders not only represents a major milestone for Fintokei but also underscores our commitment to supporting and rewarding skilled trading professionals," David Varga, co-founder of Fintokei, commented. "We're incredibly proud of the talented traders in our community who drive our success through their dedication and expertise."
While some companies are distributing funds, others have been struggling with this issue for six months. For example, The Funded Trader has been unable to settle payments to its clients since March. This week, the proprietary trading firm issued a statement indicating that it has taken steps to expedite this process.
According to a survey conducted by PipFarm, 75% of all traders prioritize fast payouts and clear trading rules over low prices or high profit shares.
Fintokei’s Expansion
Fintokei operates in the proprietary trading space since 2021, where firms fund skilled traders to trade various financial instruments such as currency pairs, stocks, and commodities. Unlike traditional trading, prop trading firms assume the risk, allowing traders to focus solely on performance and strategy development.
"Our mission is to continue expanding and innovating to offer our traders the best possible conditions," Varga added. "This milestone is just the beginning, and we look forward to further success in the future."
In mid-June, the company announced that it was expanding its operations beyond Central Europe and Japan, which until then had generated 75% of the enterprise's revenues. Now, a company within the Purple Holding group is aiming to grow in Australia, Southeast Asia, and other parts of Europe.
The significance of the Japanese market is highlighted by the fact that this year, popular tennis player Yoshihito Nishioka from the region joined the ranks of official ambassadors for the prop trading brand.
https://www.financemagnates.com/fore...aders-in-2024/

Prop Trading Launch: Gerchik & Co Offers Access to $100K in Company Funds
https://gerchik.co/en/prop-trading
Thursday, 12/09/2024 | 11:12 GMT+2 by Tareq Sikder

1. Traders can access capital ranging from $5,000 to $100,000 and keep 80% of their profits.
2. Prop trading is gaining traction, with brokers such as OANDA, Axi, and Hantec Markets expanding into this area.

Gerchik & Co, an international brokerage company, has introduced a new prop trading program for traders. This program allows participants to manage up to $100,000 in company funds, providing a means to trade without using personal capital.
Under the program, traders can access capital ranging from $5,000 to $100,000. In exchange, they retain 80% of the profits they generate. To qualify, candidates must first complete a demo account challenge, which assesses their ability to manage risk and grow funds before being given real capital.
The Prop Trader Challenge
To become a prop trader, candidates must pass a two-stage challenge. The challenge evaluates their trading skills, specifically their ability to grow demo capital to a target amount without significant losses.
Participants have up to one year to complete both stages of the challenge, although they can finish in one week. Entry costs $69, and candidates can take up to three challenges simultaneously. Success in the challenge can lead to managing up to $100,000.
Source: Gerchik & Co
No Limits on Attempts
Gerchik & Co offers unlimited attempts for the prop trader challenge. If candidates do not succeed on their first attempt, they may re-enter as many times as needed to join the program.
This initiative provides a chance for traders to advance their experience and earnings without risking their own funds while retaining a substantial portion of their profits.
Brokers Embrace Prop Trading
OANDA has launched its Prop Trader program in South Africa, allowing traders to become signal providers and earn up to 90% of their profits on a profit-sharing basis, as reported by Finance Magnates. Prop trading is gaining traction, with other brokers like Axi and Hantec Markets also entering the field, typically through offshore regulated entities.
Proprietary trading is rising in popularity but remains challenging. A recent PipFarm poll of 459 respondents shows that while interest is high, only 40% achieve significant financial success in the competitive prop trading landscape.
https://www.financemagnates.com/fore...company-funds/

Cool. I am really concerned about influx and distribution of prop clientel and their needs to fill pockets.
When I have a bit more time, I will ponder that issue more

At the mql5 market site there is a Trading Panel called "Lot by Risk" (for MT4 in the utility category, its free) .. its easy to use, maybe it can help you, cheers!

You already burned that prop here with your shady practices.

These guys (Fast Track Trading) were the ones paying more in Rise in the last week
https://x.com/payoutjunction/status/1834217277836706228

I was looking into their offer and they don't charge monthly or additional fees and there in no challenge phase, it's instant fund.

They have a trailing DD (EOD) of 5%.

In an account of 150K that means a trailing of 7.500, for the price of $599.

This is not sustainable IMO, even with the consistency rule of no more than 20% profits in a single day.

Thats the issue milk while you can. I remember funding talent days. They paid a lot of traders but those who caught got nothing.
You are forgetting those who are blowing up 40-50$ apex account will still blow up 599 ones. So it depends on how much cash they have which no body knows until they run out....

Eheheh, good point. Funding Talent was a wonderful prop for me. I've just checked and is still my 9th most net profitable prop !

but why not a book us good traders?

I am pretty sure FastTrack is A-booking good traders. Otherwise there must be already serious payout issues, but have not heard of this so far. So should be good prop.

How can you know a person will be profitable without putting them through a test of at least 40 trades? I'll wait for your PHD response.

He will use ChatGPT to get response and ignore you . These people think A-Booking is like joke take any trader and forecast he is will take successful trade and job done.... How to know a trader in 2 months if he makes money or not

A-book is for risk mitigations not profit gathering.

I think logically if they B-Book they will earn more as you get fees + failed challenges which will be way more than any payouts.... provided there is so much liquidity.

Statistics. I have some ideas. But do not have the big data for any testing purposes here. Also do not want to do this discussion alone. That does not make much fun.

so your answer is speculation. If you take an action on a trader before they open 1 single trade, you are speculating.

This should be 100% obvious after the MFF process (and also that even A book lose money).

I've read a lot of closing announcements from props but this one from Gold Fund Trader (never heard about them) is funny:
https://x.com/goldfundtrader/status/1834117207313273178

I guess it was a 12 years old kid.

Not that much as you might think. It is always kind of speculation as you do not have the future results of any traders trades. An interview or questionnaire could be made before any trades are made and then you could do a forecast if that trader has a realistic chance to be profitable. But no prop firm is taking this serious as kind of application process, they or some do this after the payout has been requested which is nonsense for A-booking purposes as it is already done after the fact. Also you do not need 40 or more trades. Especially when the trader is consistent profitable you should need far less trades as the VARIATION of statistics of those trades are SMALL.