DESPERATELY looking for GOOD Proprietary Trading Firm in London UK

DT

Well-known member
There are plenty of genuine firms out there, I'm just saying that this notion of turning up, handing over a small sum of money and that leading to a trading career is rather unrealistic.
 

Parky

Well-known member
Most of the "Old style" Prop trading companies have fallen by the way side as some of the other guys have stated already. The issue is that the high volume traders have been run over by the Algo's and have found most of their tried and trusted trading strategies no longer work. This has resulted in a large drop of volumes, which has perversely coincided with the increased costs as MIFID 2 and trade/transaction reporting costs have caused many to think again.
Low volume traders are better off on retail platforms such as Interactive.
However prop-shops do still exist, some offering "training" and as previous contributors have noted these should be taken with a large does of salt. Companies will generally not take on people who have been down this route as they generally have picked up bad habits, and the companies concerned will generally take the best on themselves, which means by default if they haven't taken you on why would anyone else?
What you need is a home that offers market access, has a prop division but is also FCA regulated and offers broking and is diverse, and preferably been around a while. If you have your own finance to put up and back yourself, quality market access companies are still out there.
 

mikeohr

Newbie
Hey guys, thanks for all the info.

@DT @Parky

Any recommendations that you can offer in terms of the "genuine" firms in London would be appreciated. I'm not really interested in firms that offer a training program. It would be great to sit with some veterans / former locals.

I am self funded, trading from my office (Eurex mostly) but am interested in networking and checking out opportunities to sit with other traders.
 

Parky

Well-known member
There are not many left and as stc says there is no point paying for "training" if the company concerned does not take you on you are finished as the others will say "if they didn't why should we". If you have traded for a living, either as a salaried trader or as a private investor then there are trading rooms in London who will take you on provided you on. For example Tower or Xconnect (who have just moved to new offices in the City)
 
Hello All ,

Hope you are all doing great .

I am a self taught trader and trading from home part time about a year now side by side with a full time job .My result are mixed , I mainly trade US small cap stocks and some Forex pairs . It has become a passion for me . I am in my mid 30s and realized If I don't go after my passion I will regret in my life .

I have realized If i have to take trading to a further level i have to work around more professional environment / traders . At the moment I feel I am not going anywhere with lack of capital , information , technology , strategies etc.

I have researched at my best about all the firms in London but most of firm charge a lot for training .I have read reviews site like glass-door and many others But unfortunately most of the people have negative experiences .They charge tuition where they only teach basic which can be found free on internet but later they don't offer job or charge high commission , desk fee etc. I don't mind paying the tuition where I can achieve in depth knowledge but I MUST get a guaranteed career with them . But of course my preference will be those firms who doesn't charge . Here is a list of all the Firms I have researched and spoke with them .

1. AUDACITY CAPITAL
  • £ 3000 ( Inc VAT ) – 1 month training
  • training 9-5 – mon to fri – moorgate office
  • desk fee £380 pm
  • $15 k given to trade – 50 % split
  • No Base salary
2. Samuel & Co
  • 2 weeks program £1250
  • Trading capital given £20 k , No base salary
  • Based in watford
  • No guaranty of in house desk
  • Remote Trading after training
3. Amplifying Trading
  • Course fee £ 5760 over 9 weeks
  • Based on future market
  • -Don't have info what sort of contract after training
4. Pyne Trading
  • 8 weeks training £7500
  • Contacted several times but unresponsive .
5. Futex live
  • 8 weeks Training £3000
  • Based on future market
  • Contacted several times but unresponsive .
Firms DON'T charge for training :

1. Met Traders
  • Based ON future market
  • Free 8 weeks training 12 months minimum contract to trade with company
  • No salary
  • Live trading account fee £1000 pm
  • Not very good reviews , trader don't make money for a year
  • trading model volume generator for the company .
2. OSTC
  • Recruiting in 2019 only
  • basic £13k salary for training 3 months
  • bonus , volume generator , based in swansea
3. Mako Trading
  • Based on option market
  • 18 months training Only for the fresh graduate
Professional ( good track record ) Traders Only / No Training for novice or intermediate Traders / Or only training do not offer position in house :

hamiltoncourt Capital - Do not offer prop trading
Jane Street - Graduate only
Tower Trading group - offer prop trading to professional only
DRW - London branch don't recruit trainee / junior trader
chicago trading london * - Do not offer prop trading / courses for trainee
leaguetraders *- Do not offer prop trading
Jump Trading * - No training only experienced trader recruit
Bluefin capital - offer prop trading to professional only
Tradelinks - offer prop trading to professional only
Liquid Capital - offer prop trading to professional only
Ronin Capital - offer prop trading to professional only
Maven - offer prop trading to professional only
GHCO - offer prop trading to professional only
Bluefin - offer prop trading to professional only
Winchmore Capital - offer prop trading to professional only

I WILL DEEPLY APPRECIATE AND BE GRATEFUL IF ANY OF YOU PLEASE HELP ME FIND A GOOD PROPRIETARY FIRM IN LONDON WHERE I CAN PURSUE MY DREAM.

Hi, how is it going pursuing your dreams?
I'd like to know if you've found a good trading firms to work with.
Please let me know, thanks.

Darren
 

tuscan

Member
man... ask yourself why someone would give you his money to trade if you didn't make it with your own ? can you even think logically ? there is a clear route if you want to trade in such environment - profitably trading your own money, build a track record, then if you for some reason want to join such place (at a cost!) they will probably let you. you will pay for their office so why would they block you?

trading arcade as a business model doesn't make sense anymore , this field was taken over by automation and big market making firms. in your favor, however, are facts that futures markets are less volatile and the market access is cheaper so you can do it at your flat. you pay like 50$ a month and you have futures market in your own bedroom, $500 and you can day-trade trade $57k worth of crude oil. fuck, you can ebven trade it if you dont have $500. do you believe you have some exceptional math or skills ? or you believe they will teach you something in those firms ? well ... you see yoursefl even there many dont make money!
 

Parky

Well-known member
You will need to be a little more specific. What are the markets/contracts you wish to trade. Do you have a preferred trading platform. Are you self financing or are you looking for Leverage and/or looking to be backed. Lastly and most important are you a professional trader? If not you are under FCA guideline you would be classed as retail.
Just as guidance if you are retail and/or you are looking to be fully backed, then I think you will struggle to find a home.
 

Dn1977

Junior member
Hello All ,

Hope you are all doing great .

I am a self taught trader and trading from home part time about a year now side by side with a full time job .My result are mixed , I mainly trade US small cap stocks and some Forex pairs . It has become a passion for me . I am in my mid 30s and realized If I don't go after my passion I will regret in my life .

I have realized If i have to take trading to a further level i have to work around more professional environment / traders . At the moment I feel I am not going anywhere with lack of capital , information , technology , strategies etc.

I have researched at my best about all the firms in London but most of firm charge a lot for training .I have read reviews site like glass-door and many others But unfortunately most of the people have negative experiences .They charge tuition where they only teach basic which can be found free on internet but later they don't offer job or charge high commission , desk fee etc. I don't mind paying the tuition where I can achieve in depth knowledge but I MUST get a guaranteed career with them . But of course my preference will be those firms who doesn't charge . Here is a list of all the Firms I have researched and spoke with them .

1. AUDACITY CAPITAL
  • £ 3000 ( Inc VAT ) – 1 month training
  • training 9-5 – mon to fri – moorgate office
  • desk fee £380 pm
  • $15 k given to trade – 50 % split
  • No Base salary
2. Samuel & Co
  • 2 weeks program £1250
  • Trading capital given £20 k , No base salary
  • Based in watford
  • No guaranty of in house desk
  • Remote Trading after training
3. Amplifying Trading
  • Course fee £ 5760 over 9 weeks
  • Based on future market
  • -Don't have info what sort of contract after training
4. Pyne Trading
  • 8 weeks training £7500
  • Contacted several times but unresponsive .
5. Futex live
  • 8 weeks Training £3000
  • Based on future market
  • Contacted several times but unresponsive .
Firms DON'T charge for training :

1. Met Traders
  • Based ON future market
  • Free 8 weeks training 12 months minimum contract to trade with company
  • No salary
  • Live trading account fee £1000 pm
  • Not very good reviews , trader don't make money for a year
  • trading model volume generator for the company .
2. OSTC
  • Recruiting in 2019 only
  • basic £13k salary for training 3 months
  • bonus , volume generator , based in swansea
3. Mako Trading
  • Based on option market
  • 18 months training Only for the fresh graduate
Professional ( good track record ) Traders Only / No Training for novice or intermediate Traders / Or only training do not offer position in house :

hamiltoncourt Capital - Do not offer prop trading
Jane Street - Graduate only
Tower Trading group - offer prop trading to professional only
DRW - London branch don't recruit trainee / junior trader
chicago trading london * - Do not offer prop trading / courses for trainee
leaguetraders *- Do not offer prop trading
Jump Trading * - No training only experienced trader recruit
Bluefin capital - offer prop trading to professional only
Tradelinks - offer prop trading to professional only
Liquid Capital - offer prop trading to professional only
Ronin Capital - offer prop trading to professional only
Maven - offer prop trading to professional only
GHCO - offer prop trading to professional only
Bluefin - offer prop trading to professional only
Winchmore Capital - offer prop trading to professional only

I WILL DEEPLY APPRECIATE AND BE GRATEFUL IF ANY OF YOU PLEASE HELP ME FIND A GOOD PROPRIETARY FIRM IN LONDON WHERE I CAN PURSUE MY DREAM.

hi ,
you probably have found the answer you are looking for but I’ll give my 2 cents for what it’s worth.

I have worked in London prop shops and can tell you they will only rent you a desk if you have at least £15 k to put up from as assurance to pool with their capital .

Once that goes you are gone. If you are not constantly profitable before you try and rent a desk, do not bother, you will not find someone to hold your hand and tell you their trade methods that has taken them years of blood sweat and tears to gain.

It’s a ruthless business and it’s each time their own.
 

Dn1977

Junior member
Thank you for taking time and sharing your experience . I know the truths about all these so called prop firms now a days , When you are doing any sort of job and you start loving it , have that gut feeling you are good at that Just need someone to show the right direction which will probably make you successful , I do have the same feelings about trading .Unfortunately I came to know about trading very late in my life otherwise i could've start preparing early in my life to get in the route and work for some investment bank and related .
If you have drive and passion with an obsession with trading and deep pockets and years to study and fail and keep going . If you are willing to risk it all and go through dark hard times to chase the dream then there is a small chance that you could make it. I know , I have been there and it’s is brutal . But the rewards if you are one of the few , are worth it, in my opinion.
 

ironjaw

Member
I'm interested in an update. What is your position now? I do think that you're better off on your own, either running limited company to offset the expenses, take care of tax and all that then working over at a prop firm.
 

Parky

Well-known member
The number of Prop trading companies still going can be counted on one hand, which in itself answers the question about "Good" Prop companies, as all those not "good" have gone by the wayside. Sadly many led a rush to the bottom offering ridiculous leverage, wafer thin commissions and very lean balance sheets, meaning they had unsustainable models and they have gone. One laughingly even advertised as making "no profit" being run by traders for traders, championed by many and folded as most predicted. A "Good" Prop shop has been around a long time, is diverse offering multiple asset classes and platforms, has strict Risk management and offers a home to brokers, trading and trading groups. They offer full IT, Risk, Compliance as well as clearing and settlement. Those still standing tick those boxes.
 

ironjaw

Member
That's true, but I'm thinking what reason is there to work with a prop firm. Is it to gain experience or to use their contacts or framework to direct access the market to execute traders faster? I just see no reason of using one's own hard work, working for them when you have to pay for a desk and share profits with them? What's the advantage? They will only take on professionals with track record, and I mean at that level (which I hope to attain one day) I would be more inclined to setup shop at home for myself and be my own boss
 

Parky

Well-known member
OK, firstly if you are funded sufficiently to cover your own Risk profile, you should not be paying a percentage of profit, the company should be able to live on the commission on the basis they get economies of scale. But what a prop shop should offer is diversification, we have all seen contracts and markets dry up, trading strategies that work today may not work tomorrow and platforms available today could stop altogether or fall behind in the technology arms race. A prop shop will keep traders up dated with new contracts, new strategies and alternative trading opportunities be it platforms, markets or contracts.
Lastly you don't "work" for a trading company, you should be a client taking their services because they add value and flexibility.
 

ironjaw

Member
I agree, the OP was looking desperately for working with a prop firm. I would imagine, using a prop firm as a broker and being their client for tighter spreads/commissions

Palrky, not sure where you are but any recommendations on prop firms that do offer that service you mention, or course, scams aside, please.
 

kreslaa

Junior member
Hey, I been trading with Audacity capital from a 2 months, and so far, everything is going good. They double my account a week ago, so the fun part is just about to start lol
 
 
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