FTMO capital
I’m sure you’ve heard of them somewhere.
But compared to Psyquation, their criteria are tighter:
- Trade a demo account of $10,000 – $200,000 (yes, not a live account)
- Make 10% within 30 days
- Don’t lose more than 10% of the account or have a maximum daily loss of 5%
The catch, of course, is that you need to pay upfront for the “challenge,” but you will be trading a demo account and not a live account.
There you go!
With that said, here are some frequently asked questions I’ve received…
Frequently asked questions
#1: How did you go about looking for these prop trading companies? Were there internships or did you just dive straight in?
I pretty much looked at job portals every day for new job opportunities and vacancies.
I also searched Google for prop trading companies with physical addresses in Singapore and went down to their doors to personally submit my resume to them.
#2: Did you have to pay monthly desk fees at the prop firm or did they cover all expenses for you?
Yes, you’ll have to pay monthly desk fees at the prop firms.
During the probation period, they’ll cover those fees for you. But after the probation period when you’re trading for them full-time, you’re expected to cover your own desk fees.
#3: How competitive is it inside the firm? Will you be asked to leave if you struggle to make profit consistently?
Yes, proprietary trading is extremely competitive. But it’s not between you and your colleagues. It’s pretty much a competition between you and yourself, to become the best trader that you can be.
You’ll want to be a consistently profitable trader so that you can take a piece of the paycheck every quarter or every month.
Generally, most firms would likely give you some leeway, maybe 3 to 6 months to become profitable. If after 6 months or a year and you’re still bleeding every month, you’ll most likely be asked to leave. But of course, it’s still up to the firms’ discretion.
Conclusion
And there you have it!
My step by step guide on how I got a job as a proprietary trader.
I hope this helps!
