My experience with prop firms:

[chrispto]

A few months ago, I had no idea what a prop firm was, a sector that cryptotraders like me did not have much information about. However, I found it interesting what these funding companies for traders offer.

A prop firm is a company that provides large capital to traders, but to get it, you must first pay an entry fee and go through a challenge that has a number of conditions. This is done to prove that you are profitable and capable of handling larger capital.

In my opinion, using a propping company has several advantages:

You don't risk your own capital: by trading with prop firm capital, your own funds are protected, which significantly reduces risk.

Ability to trade accounts up to +200K: Prop firms allow you to access accounts with much larger capital than you could use on your own, which increases profit potential.

Currently, I am funded at Crypto Fund Trader, a prop firm that focuses primarily on trading cryptocurrencies, but also offers other instruments such as forex, indices, commodities and stocks.

One of the things that attracted me to this firm is that they allow any trading strategy, which is critical for me, as I have a custom strategy that I wanted to keep using. They also offer 1:100 leverage and spreads from 0 pips, which allows me to comfortably trade my strategy.

It's also great that we can choose the platform we feel most comfortable with. In my case, I chose to use Crypto Fund Trader's own platform, as I find it very well optimized for my needs.

Another important aspect is the way in which we can earn our profits. The prop firm offers multiple options to withdraw our profits, such as bank transfer, credit card, PayPal, Payoneer, Revolut, Wise, Coinbase, among others.

In summary, using a prop firm has been an excellent option for me, as it has allowed me to work on what I like, which is trading, without having to risk my own money.

If you are interested in more information about the prop firm I use, you can visit their website: https://cryptofundtrader.com/.

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[CarnagexD]

A few months ago, I had no idea what a prop firm was, a sector that cryptotraders like me did not have much information about. However, I found it interesting what these funding companies for traders offer.

A prop firm is a company that provides large capital to traders, but to get it, you must first pay an entry fee and go through a challenge that has a number of conditions. This is done to prove that you are profitable and capable of handling larger capital.

In my opinion, using a propping company has several advantages:

You don't risk your own capital: by trading with prop firm capital, your own funds are protected, which significantly reduces risk.

Ability to trade accounts up to +200K: Prop firms allow you to access accounts with much larger capital than you could use on your own, which increases profit potential.

Currently, I am funded at Crypto Fund Trader, a prop firm that focuses primarily on trading cryptocurrencies, but also offers other instruments such as forex, indices, commodities and stocks.

One of the things that attracted me to this firm is that they allow any trading strategy, which is critical for me, as I have a custom strategy that I wanted to keep using. They also offer 1:100 leverage and spreads from 0 pips, which allows me to comfortably trade my strategy.

It's also great that we can choose the platform we feel most comfortable with. In my case, I chose to use Crypto Fund Trader's own platform, as I find it very well optimized for my needs.

Another important aspect is the way in which we can earn our profits. The prop firm offers multiple options to withdraw our profits, such as bank transfer, credit card, PayPal, Payoneer, Revolut, Wise, Coinbase, among others.

In summary, using a prop firm has been an excellent option for me, as it has allowed me to work on what I like, which is trading, without having to risk my own money.

If you are interested in more information about the prop firm I use, you can visit their website: https://cryptofundtrader.com/.

Yes funding challenges through propfirms are gamechanger. They give you a capital for a challenge that you bought once you passed it. The challenge is can you pass it? The capital now is not a problem but do you have a real skill to pass a 2-phase challenge, some also have 30days limit to pass, 10% maximum drawdowns. So you have to had the risk management, working strategy, and a strong psychology because trading is  a psychological game.

[tjtonmoy]

Do they give you real money for trading or some shit that is on their own platform, and they can easily manipulate that? I think this is a total scam. The fee they took from you is for their own benefit, and you will get nothing in the end. Even if you successfully do the tradings and make profits, they will only allow you to withdraw a fraction of it because it was in their "T&C". I think it is a waste of time. No one will give you that much money to trade just because you paid them some fees. And if it is only available on their platform, then rest assured that it will get manipulated, and they can easily change the price to their liking to make you lose. Soon you will run out of assets to trade and in the process, you will also lose the fee that you have given to them.

If you are really passionate about trading and good at it. Why not save up for that and trade on the legit market? This is identical with demo accounts. It will give you knowledge, but when you put your step on the real thing, you will see that many does not add up to what you have learned from that. So do it yourself with the right thing. That way you can become successful in the future as well.

[Wiwo]

Really,  what happen to the capital given to you by the company in the situation where the trade goes against you?

e.g when you lost the initial capital in the trade,  are you mandated to pay back the full capital since the capital in lend from the prop firm,  or do they provide some form of insurance for the money since your entry fee is already a collateral for the loan,  we know how risky trading could be and there are no guarantee profits in trade so at that one need take time in checking and reading through all the terms and conditions of the company so that you won't get into something that is bigger than you can cover in terms of loses and taking large capital.

More also I will also like to get something clear.

What happened to the entry fees if you failed to secure the trading capital,  in the form of failing to meet up with their criteria for taking the loans,  will you have your entry fee refunded or you risk losing it once payments are made?

[nelson4lov]

Really,  what happen to the capital given to you by the company in the situation where the trade goes against you?

e.g when you lost the initial capital in the trade,  are you mandated to pay back the full capital since the capital in lend from the prop firm,  or do they provide some form of insurance for the money since your entry fee is already a collateral for the loan,  we know how risky trading could be and there are no guarantee profits in trade so at that one need take time in checking and reading through all the terms and conditions of the company so that you won't get into something that is bigger than you can cover in terms of loses and taking large capital.

More also I will also like to get something clear.

There is a maximum amount of loss that is allowed for a funded account. Afaik, they would simply liquidate your account if it reaches the cap and that's when you've to start looking for a new account to trade with. You can do some research about it because I haven't actually gotten a prop firm account.  My knowledge is mostly from my friends that own prop firm accounts. It's not often as good as people sugarcoat it to be.

What happened to the entry fees if you failed to secure the trading capital,  in the form of failing to meet up with their criteria for taking the loans,  will you have your entry fee refunded or you risk losing it once payments are made?

Some prop firms offers users who pass their challenges a refund of their entry fees. Most prop first do not do that. I recently saw a statistics that show that prop firm actually makes money from registration fees compared to the actual profit split. It means that why a lot of people register for these challenges, only a handful actually passes them.