16/04/2022
PROPRIETARY FIRM (a.k.a PROP FIRM)
A proprietary firm (also called "prop firm" for short) is a company that offers traders access to trading capital upon demonstration of competence by the trader. While some prop firms want traders to demonstrate this competence in the form of passing trading challenges before giving access to trading capital, a few others actually go ahead to fund traders without needing them to take and pass any trading challenge (the dynamics of this latter set of prop firms will be discussion for another day). But a common feature is that these funds are given to traders at a token by means of a one-off payment or via monthly subscription fees.
Now, because the prop firms are the ones offering you capital, they usually require that traders stick to their rules when taking these trading challenges. These rules range from sticking to a daily loss limit (or percentage), overall drawdown limits, a particular number of trading days, to several other conditions like setting stop loss for every trade, risking a particular percentage per trade, etc. And yes, you dare not violate any of these rules if you must keep hopes alive of qualifying for the actual funding (getting real, live or funded accounts).
With a host of several prop firms giving traders such access to trading capital, traders are often required to sign up by paying a token as fee to get details to a demo trading account size of their choice (usually between $2,000 to as much as $1,000,000). However, some prop firms usually offer traders the chance to begin a challenge account without paying any fees upfront. This they do by either asking traders to complete an activity or simply asking them questions and selecting (usually at random) traders who provide the correct answers and then rewarding them with the challenge account to kick start their prop firm trading journey.
And this is a good way to start off one's trading career especially when a trader does not have the start up fee to pay for a challenge account, or when a trader had just lost a challenge account (yes, 70-80% of traders fail prop firm trading challenges). You may have lost a challenge as a trader but that does not mean you are not good enough or that your trading strategy sucks, the truth is there are certain times the markets choose to do what it wants to do, and sometimes you end up being caught in those moments of uncertainty. Now instead of thinking about yourself as a failure or worry about how you can raise money to go buy another challenge account, you do stand a chance to get a "free" challenge account worth $50,000. Although I mentioned it is a "free" account, you do have a simple task to fulfill to increase your chances of actually getting an account, but believe me when I say, it isn't that difficult.
"Traders with edge" is giving an opportunity to three determined traders to get a "free" $50,000 challenge account by simply "referring" their friends and other traders to sign up with them. Please note that this sign up only involves you "registering with your valid email address"; you are not mandated to buy an account! At the end of the campaign period, the first two traders with the highest referees will get a $50,000 challenge account, while the third beneficiary will be randomly selected (meaning as long as you have registered with your email, you stand a chance of winning the third slot, even if you did not refer anyone else). Simple right? So why not give yourself an opportunity at this, who knows, you could just be the lucky winner!
You are eligible to be part of this contest if:
1) You just lost a challenge account.
2) You don't know how to raise money to buy a new challenge account.
3) You want to start your journey of becoming a prop firm trader without risking your own money.
4) You want to trade forex without necessarily using your own money.
Please check the first comment in the comments section now for the link to this wonderful opportunity. You have nothing at stake basically as all you just need to do is sign up with your email to enter the contest. There will also be consolation prizes for everyone who took part in it. So why not go on and take the chance!
P.S: I have benefited from something like this in the past (although this time it was from a broker and not a prop firm who offered free $50 by just signing up with them. I ended up growing that amount to $500 which I used to purchase my very first prop firm account). So this time around, I want to extend same opportunity to everyone here and to let you know that sometimes you don't need to start trading forex with your own money. Remember all you have to do is sign up with your email, verify your email and share to other people, at least give them a chance to be themselves. Kindly check the comments section now.
Disclaimer: "Traders with edge" is one of the new prop firms out there and this post is not a financial advise or approval from me about the credibility of the company. Please always ensure to do your due diligence, if you do decide to purchase a challenge account. When in doubt, please always do your research. If you do sign up with my link (check the comments section), there is no financial liability on you, I only earn points that can qualify me for a possible challenge award, nothing more. So good luck to everyone.
