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

[dgtrading]

^in the UK

is this a thing? if it's allowed I find it very attractive

 

[wintergasp]

^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.

 

[dgtrading]

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

 

[wintergasp]

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.

 

[AlexDax]

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.

 

[Parky]

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!