Is it legal to work for more than one prop firm?

This is a discussion on Is it legal to work for more than one prop firm? within the Trading Firms forums, part of the Trading Career category; ^in the UK is this a thing? if it's allowed I find it very attractive...

Reply
 
LinkBack Thread Tools Search this Thread
Old Sep 18, 2016, 1:28pm   #1
Joined Mar 2015
Is it legal to work for more than one prop firm?

^in the UK

is this a thing? if it's allowed I find it very attractive
dgtrading is offline   Reply With Quote
Old Oct 2, 2016, 4:28pm   #2
Joined Oct 2016
Quote:
Originally Posted by dgtrading View Post
^in the UK

is this a thing? if it's allowed I find it very attractive
Most prop firms don't employ you really... so yes. If you speak about a serious prop firm.... you wouldn't want to work for more than 1 serious prop firm anyway because you'd be making a lot of money already.
__________________
I'm a trader for a hedge fund in London
I trade Futures (Energy, Softs, Grains & Metals)
I have 10 years experience in FX as market maker / HFT and with most futures.
wintergasp is offline   Reply With Quote
Old Oct 2, 2016, 10:09pm   #3
Joined Mar 2015
dgtrading started this thread
Quote:
Originally Posted by wintergasp View Post
Most prop firms don't employ you really... so yes. If you speak about a serious prop firm.... you wouldn't want to work for more than 1 serious prop firm anyway because you'd be making a lot of money already.
thanks for the reply.

I am speaking in regards of prop firms that are based around at-home trading, where if I can trade for several firms simultaneously I can simply flick between each relevant broker and make the same trade for multiple payout.

if that makes sense.

seems a bit good to be true
dgtrading is offline   Reply With Quote
Old Oct 2, 2016, 10:41pm   #4
Joined Oct 2016
Quote:
Originally Posted by dgtrading View Post
thanks for the reply.

I am speaking in regards of prop firms that are based around at-home trading, where if I can trade for several firms simultaneously I can simply flick between each relevant broker and make the same trade for multiple payout.

if that makes sense.

seems a bit good to be true
Same, most "at home" prop firm don't legally hire you so you can do whatever you want.
__________________
I'm a trader for a hedge fund in London
I trade Futures (Energy, Softs, Grains & Metals)
I have 10 years experience in FX as market maker / HFT and with most futures.
wintergasp is offline   Reply With Quote
Thanks! The following members like this post: dgtrading
Old Nov 13, 2016, 5:25pm   #5
 
9 Posts
Joined Nov 2016
I think it's not. At least US Exchanges I think prohibit it. So it's not a limitation on the prop firm side but on the Exchanges side and that would depend on the Exchanges you use and their terms.
AlexDax is offline Trading arcade or proprietary trading company   Reply With Quote
Old Jan 16, 2017, 4:04pm   #6
Joined Sep 2005
The Risk management of the companies you are trading with would ordinarily stop you from doing this. For a start Most clearing companies would have within the clearing agreement a requirement for you to report all other trading. This enables the Risk management departments to do their job. Also most quality clearing companies would require you to have surplus capital to cover potential market swings, this again would ordinarily make it too expensive to replicate your trading and positions at multiple clearing companies. If you do have multiple clearing accounts and your arrangements do not require you to report other positions and they do not require significant risk capital upfront, please can you tell us who you are clearing with?....so I can avoid them!
Parky is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
Anyone work in a trading or investment firm? Emmanuel_Ojo First Steps 0 Mar 12, 2013 11:26pm
Anyone Work For A Trading Firm? Unreal Trading Firms 7 Mar 24, 2012 8:18am
work in new firm in barcelona s-elsaalabi First Steps 1 Jul 17, 2008 1:36am

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)