Prop firms that swing trade - London

Dear all,

I have been swing trading full time for the past three months and am now looking for a prop firm to back me.

I know that Saxon Financials back swing traders but I can't find their website. I looked on companies house website, and it says they are liquidated, although I have heard they still have offices overseas.

How many other firms like Saxon Financials are there that only back swing traders?



Thanks

Hi there,

I am also a swing trader, did you get any luck with this?

Thanks

dimensional said:

Dear all,

I have been swing trading full time for the past three months and am now looking for a prop firm to back me.

I know that Saxon Financials back swing traders but I can't find their website. I looked on companies house website, and it says they are liquidated, although I have heard they still have offices overseas.

How many other firms like Saxon Financials are there that only back swing traders?



Thanks

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I don't think the company will place too much emphasis on your style of trading if your record shows you have been CONSISTENTLY profitable. I know of a swing trader who now trades for a living that went to a prop firm where their primary style of trading was scalping BUT he mad a case for himself (because he was profitable) and was allowed to use his style of trading.
So if you have records to back yourself up then just apply to any prop firm of your choice - there are few out there.

Saxon have indeed been liquidated. They had offices in several locations around the world and most of these were bought out by individuals when the writing was on the wall about Saxon's future.

Dimensional, to be honest i dont think you would benefit from swing trading at a prop firm. If you are profitable you are far better off building your own account than paying 3k+ a month for the fastest trading connections, a scalpers front end, and low rates and then give a large percentage of your profit away. I am at a prop firm, as a scalper, and i need all of these IT advantages to remain competitive, not to mention being around other traders finding little edges in the market that last a week or two and move on to something else. If you offered most prop traders the opportunity to be a medium term trader where they could put on a trade and hold it for a few days most of them would take it and leave the prop firm. Not being at your desk 12 hours a day staring at a trading ladder and paying very little in overheads is the stuff scalpers dream of!

But having said all this a lot of prop firms are just "trade facilitators" now, take very little interest in their traders but pretty much let you trade what u want. If you put 10k down and have low volatility returns you shouldnt have a problem.
If you are looking for backing because you arent in a position to back yourself it is unlikely they will change their business model much to accommodate an unproven strategy.