Any one know about working for a Prop firm

[TheRegulator]

Does anyone work for a Trading firm. Anyone have any experience with them and what its like to work for one.

Whats the reach 10% of my target mean and only then do i get paid 50% split share profit.

Does that mean i wont get a regular salary, only whats i make.

Is the employment status like permanant jobs or self employed.

What about benefits like holiday, sick pay, pensions , bonus etc etc, how does that all work.

If i dont reach my target do i get fired?

Any body with experience or working knowledge of applying for work with a prop firm, responses would be appreciated.

 

[DionysusToast]

All firms are different.

But the more profitable you are, the more negotiating power you have.

There's normally no salary or holiday.

In terms of getting fired - they are patient with new traders trying to get profitable and most likely you'll starve before they fire you. If you are established and then fail to make your targets, they aren't going to can you unless you start losing IMO - but if you lose your touch, you'll be out.

Note that some firms are pushing traders towards spreading purely for the commissions. They can profit from you even if you lose money.

So be aware that there's legit bricks & mortar prop firms that don't care if you make money or not as long as you do round turns.

 

[TheRegulator]

Thanks very interesting.

So if i make no profits for the month. I get paid zero and might be a waste of my time right

 

[NVP]

Why not go and talk to one ?.....they are all different .....it’s simple though ...it will make serving hard jail time in a rock breaking team feel like a kiddies party