Economy
Exploring the Best Proprietary Trading Firms for 2023 With Traders Union
At a proprietary trading firm, traders can use a pool of money instead of their own to make more money. In these firms, traders usually get a piece of the profits they make from their trades. However, prop trading can be tough and comes with its own set of challenges. In this guide, Traders Union (TU) experts talked about the best proprietary trading firms in 2023. If you’re thinking about starting your prop trading career, they’ll give you some important info.
Understanding proprietary trading
Proprietary trading is when a financial firm or bank invests directly in the market to make money for itself, rather than making money by trading for clients and earning small fees. They trade various things like stocks, bonds, and currencies.
According to TU’s analysts, prop traders use strategies like merger arbitrage, index arbitrage, and more to try to make a lot of money. They have fancy software and lots of information to help them make smart choices.
Being a prop trader has perks, like learning from experienced traders, getting access to more money, and having no-risk accounts to practice with. But it can also be expensive and competitive, with high fees.
Top prop trading firms
Analysts at Traders Union have determined the best proprietary trading firms. They offer diverse options for traders seeking to start proprietary trading.
- Topstep – known for its innovative approach, it offers a funded account program with simulated futures accounts ranging from $150K to $300K. Traders can qualify within eight days by demonstrating consistent profitability, with flexible pricing starting at $165 per month.
- The 5%ers – they have a unique approach, requiring traders to complete their Level 1 Program with profit targets of 10% to 25%. Entry costs range from $275 to $875, with a 50/50 profit split.
- Earn2Trade – they offer three funded trading programs and a variety of trading platforms. Costs vary, with the Trader Career Path offering funded accounts without monthly fees. Traders earn 80% of profits.
- SurgeTrader – they provide a 75% profit split to funded traders with packages suitable for all skill levels. Audition fees range from $200 to $6,500, and they offer various tradable assets.
- FTMO – specializing in Forex trading, FTMO offers access to 44 currency pairs, cryptocurrencies, and more. Traders receive capital ranging from $10,000 to $400,000, with an 80/20 profit split. Larger accounts have a potential profit split of 90:10.
Selecting the right prop trading account for your needs
When seeking the right prop trading account, consider these factors with insights from TU’s experts:
- Reputation – check the firm’s industry reputation and history of profitability. Read trader reviews and look at Trustpilot scores.
- Available assets – look at the variety of assets offered, such as stocks, futures, and forex, to find the best fit for your trading skills and preferences.
- Fees – understand the fee structure, including any one-time evaluation fees, and ensure it aligns with your budget.
- Trading platform and style – ensure the firm offers a suitable trading platform, and check if their trading approach aligns with your own style.
- Client support – choose a firm with strong client support to assist with questions, software issues, and account-related matters.
Conclusion
Proprietary trading offers traders a unique opportunity to use pooled capital to earn profits. However, it comes with its own set of challenges and fees. Traders Union has highlighted the top proprietary trading firms for 2023, providing options for those considering a career in prop trading. It’s crucial to consider factors like reputation, available assets, fees, trading platform, and client support when selecting the right prop trading account. Proprietary trading can be rewarding, but choosing the right firm is essential for success.
Economy
Ibeto Customs, Police Renew Joint Security Pact for Efficiency, Safety
By Adedapo Adesanya
The Nigeria Customs Service (NCS), Ibeto Seaport and Terminals Command, Port Harcourt, and the Nigeria Police Force have renewed their commitment to joint security operations at the nation’s maritime corridors, following a strategic meeting between top officials of both agencies.
According to a statement, the renewed partnership came as the Commissioner of Police, Eastern Port Police Command, CP Shuaibu Audu, paid a working visit to the Customs Area Controller, Comptroller Usman Yahaya, at the Command headquarters on April 17, 2026.
The engagement, according to a statement by the Command’s Public Relations Officer, Chief Superintendent of Customs Tangwa Emmanuel, was aimed at strengthening inter-agency cooperation and boosting operational efficiency within the port environment.
Speaking during the visit, Comptroller Yahaya described the engagement as significant, stressing that sustained collaboration among security agencies remains critical to safeguarding national assets and ensuring seamless port operations.
This visit is timely and highly appreciated. It reflects the importance of sustained cooperation among agencies entrusted with the security of our nation and the protection of critical economic assets,” he said.
He assured the police boss of Customs’ readiness to maintain strong working relations with the Eastern Port Police Command.
“We are fully committed to working with the new Commissioner of Police and giving all necessary support towards the successful discharge of his responsibilities,” Mr Yahaya added.
The Customs Area Controller noted that the synergy between both agencies has continued to play a vital role in maintaining order, facilitating legitimate trade and curbing criminal activities within the port system.
This was contained in a statement shared via the Customs official X handle.
Customs and the Police share common responsibilities in safeguarding the port environment. Synergy remains the cornerstone for achieving our collective mandate,” he stated.
He also briefed the visiting Commissioner on the operational relevance of the Ibeto Seaport and Terminals Command, reiterating the Command’s commitment to strengthening maritime security.
On his part, CP Audu said the visit was part of efforts to consolidate existing ties between the Nigeria Police Force and the Nigeria Customs Service.
“My presence here today is to reinforce the cordial relationship between the Nigeria Police Force and the Nigeria Customs Service. No organisation can function effectively in isolation,” he said.
He emphasised the importance of sustained collaboration among security agencies, particularly in securing the nation’s ports, which he described as vital to economic stability.
Synergy among security agencies is essential to addressing emerging threats. Our ports are strategic national assets, and we must work together to keep them secure,” Mr Audu stated.
The police commissioner also sought continued support from Customs officers in advancing shared security objectives.
Economy
Tinubu Removes Wale Edun, Elevates Taiwo Oyedele as New Finance Minister
By Modupe Gbadeyanka
Mr Taiwo Oyedele has become the new Minister of Finance and Coordinating Minister for the Economy after the exit of Mr Wale Edun.
This announcement was made on Tuesday by the Office of the Secretary to the Government of the Federation via a statement signed by Mr Yomi Odunuga, the Special Adviser of Media and Publicity to the Secretary to the Government of the Federation, Mr George Akume.
It was disclosed that President Bola Tinubu approved the removal of Mr Edun as Finance Minister as well his counterpart in the Housing and Urban Development Ministry, Mr Ahmed Musa Dangiwa.
According to Mr Akume, “These changes are aimed at strengthening cohesion, synergy in governance as well as achieving more impactful delivery on the economy to Nigerians, through the Renewed Hope Agenda.”
In approving the cabinet reshuffle, the President has fully exercised his powers as conferred on him by Sections 147 and 148 of the Constitution of the Federal Republic of Nigeria (1999, as amended), he added.
Before this minor cabinet reshuffle in the membership of the Federal Executive Council (FEC), Mr Oyedele the Minister of State for Finance.
Mr Muttaqha Rabe Darma has now been named as the ministerial nominee and minister designate for the Housing and Urban Development Ministry.
Mr Tinubu thanked the outgoing ministers for their services to the nation while wishing them the best in all their future endeavours, reminding others that “the process of reinvigoration shall be continuous.”
Economy
Dangote Eyes Crude Oil Production to Ease Shortfalls
By Adedapo Adesanya
The Dangote Group has announced plans to begin its own crude production, to help cover shortfalls in local crude feedstocks, in the coming weeks through its upstream assets.
According to Mr Devakumar Edwin, the Vice President of the Dangote Group, the company has commenced early testing on crude from its Niger Delta licenses.
In an interview with Platts, part of S&P Global Energy, the official said the company has already begun standard well testing and is preparing to scale up output.
“We have opened a well and begun standard testing, which should be completed in the next three to four weeks, maximum.
“After that point, oil can start to be pumped in larger volumes, and the company can begin work on drilling new wells,” he said.
Also speaking, Mr David Bird, the chief executive officer (CEO) of the Dangote refinery, said the upstream assets could provide a more stable crude supply for the refinery.
“Alongside its upstream interests, the company is seeking to establish its own shipping presence to help reduce logistics costs and improve the reliability of its crude sourcing,” Mr Bird said.
While confirmation has come from the company, the Nigerian government or the Nigerian National Petroleum Company (NNPC) Limited is yet to officially confirm the development.
The 650,000 barrels-per-day facility has been able to get enough feedstock locally under the federal government’s Crude-for-Naira initiative, leading it to source crude from international markets at a premium, which is partly responsible for the high cost of petrol and other fuels.
However, in April 2026, the NNPC said it would increase its crude supply to Dangote Refinery to seven cargoes.
The refinery, on several occasions, has stated it sources the majority of its crude oil outside Nigeria despite being the country’s Naira-for-crude sale deal.
Last month, it said the NNPC only gave it four to five cargoes, which is less than 50 per cent of expected volumes. The majority of Nigeria’s crude is tied to joint ventures with international oil companies.
With the latest development, it would help reduce the dependency on international crude as well as allow Dangote to ease some of its import costs.
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