Economy
Instant Funding Prop Firm: Trading Opportunities for Your Success
Traders Union experts explored the world of Forex prop firms, where traders can access borrowed capital to trade the global market and maximize profits. Learn about instant funding prop firms, their benefits, and discover top firms in this field to advance your trading career. Gain valuable insights to make informed decisions and reach new heights in your trading journey.
What is prop trading?
Proprietary trading, or prop trading, is a lucrative approach where financial firms use their own funds to directly profit from the market. Unlike traditional trading, prop traders capitalize on market activity for their firms, buying and selling various financial instruments. TU analysts consider that this trading style offers enhanced access to capital and the opportunity to learn from seasoned traders, making it an attractive choice. The Forex market and the stock market are prominent areas for prop trading, providing ample opportunities for substantial gains through astute market analysis and risk management.
Instant prop trading: pros and cons
Analysts at Traders Union reviewed the main features of instant prop trading.
Pros:
- Immediate live trading: Instant prop trading allows traders to start live trading right away, saving time and gaining real-world experience immediately.
- Potential cost savings: Profits made on a live prop trading account can cover fees paid to the firm, leading to long-term cost savings.
- Lower risk of scams: Choosing reputable prop trading firms for immediate trading reduces the risk of falling victim to scams during the evaluation process.
Cons:
- Higher upfront fees: Starting trading without evaluation may require higher upfront fees as the firm takes on greater risk.
- Reduced profit split: Traders who skip evaluation may face less favorable profit splits compared to those who successfully pass evaluation, resulting in a larger portion of profits going to the prop firm.
2023’s top Forex prop firms
Choose the best instant funding prop firm in 2023 to advance your trading career.
- 5%ers: Established and reliable firm offering instant funding for Forex trading with a 50/50 profit split and no evaluation process. Traders have the freedom to use any trading strategy and benefit from timely monthly payments.
- Fidelcrest: Provides two types of instant funding accounts tailored to different trader experience levels. Traders can choose between a Normal Account or an Aggressive Account with initial balances ranging from $150,000 to $1,000,000.
- BluFX: Unique instant funding options with a scaling profit target and withdrawal profit target. Monthly subscription fee based on account type and size. Access to capital from $10,000 to $100,000 without needing to pass a challenge.
- Glow Node: Offers flexible funding conditions with three account options. Traders can choose between a 1-phase or 2-phase challenge or opt for instant funding. Profit split starts at 80% and can increase to 90% during scaling.
What is the best way to choose a prop firm?
TU analysts highlighted the main key factors to consider when choosing a prop firm:
- Profit Distribution: Assess the fairness of profit distribution methods, including tiered structures, and frequency of distributions (monthly, quarterly, or annual) to manage cash flow effectively.
- Profit Targets: Evaluate the achievability of profit targets to avoid excessive risk-taking and maintain a sustainable trading approach.
- Risk Management Framework: Look for well-established risk management policies and support to protect capital and navigate volatile markets.
- Technology and Infrastructure: Consider the firm’s trading platform stability, real-time market data access, and advanced order execution tools.
- Research and Analysis Resources: Access to comprehensive research tools and market analysis can inform better decision-making.
- Support and Mentorship: Seek firms with supportive environments offering mentorship from experienced traders to accelerate learning.
- Track Record and Reputation: Research the firm’s reputation for transparency, integrity, and ethical practices, and seek feedback from past traders.
Conclusion
According to Traders Union experts, Forex prop firms provide an exciting opportunity for traders to access borrowed capital and maximize profits in the global market. Instant funding prop firms offer the advantage of immediate live trading and potential long-term cost savings.
By Adedapo Adesanya
Food Concepts Plc neutralized the gains recorded by three securities, returning the NASD Over-the-Counter (OTC) Securities Exchange into the negative territory with a 0.27 per cent loss on Thursday, December 4.
Yesterday, the share price of the parent company of Chicken Republic and PieXpress declined by 34 Kobo to sell at N3.15 per unit compared with the previous day’s N3.49 per unit.
This shrank the market capitalisation of the OTC bourse by N5.72 billion to N2.136 billion from N2.142 trillion and weakened the NASD Unlisted Security Index (NSI) by 9.57 points to 3,571.53 points from 3,581.10 points.
Business Post reports that Central Securities Clearing System (CSCS) Plc went down by 50 Kobo to N38.50 per share from N38.00 per share, FrieslandCampina Wamco Nigeria Plc gained 29 Kobo to sell at N55.79 per unit versus N55.50 per unit, and Geo-Fluids Plc added 5 Kobo to close at N4.60 per share compared with Wednesday’s closing price of N4.55 per share.
Trading data indicated that the volume of securities recorded at the session surged by 6,885.3 per cent to 4.3 million units from the 61,570 units posted a day earlier, the value of securities increased by 10,301.7 per cent to N947.2 million from N3.3 million, and the number of deals went up by 146.7 per cent to 37 deals from the 15 deals achieved in the previous trading session.
At the close of business, Infrastructure Credit Guarantee Company (InfraCredit) Plc was the most traded stock by value on a year-to-date basis with the sale of 5.8 billion units for N16.4 billion, trailed by Okitipupa Plc with 170.4 million units worth N8.0 billion, and Air Liquide Plc with 507.5 million units valued at N4.2 billion.
InfraCredit Plc also finished the session as the most traded stock by volume on a year-to-date basis with 5.8 billion units transacted for N16.4 billion, followed by Industrial and General Insurance (IGI) Plc with 1.2 billion units sold for N420.2 million, and Impresit Bakolori Plc with 536.9 million units traded for N524.9 million.
By Dipo Olowookere
The upward trend witnessed at the Nigerian Exchange (NGX) Limited in recent sessions continued on Thursday as it further improved by 0.10 per cent.
This was despite investor sentiment turning bearish after the local equity market ended with 23 price gainers and 28 price gainers, indicating a negative market breadth index.
UAC Nigeria gained 10.00 per cent to finish at N88.00, Morison Industries appreciated by 9.94 per cent to N3.54, Ecobank rose by 8.53 per cent to N36.90, and Coronation Insurance grew by 8.47 per cent to N2.56.
On the flip side, Ellah Lakes depreciated by 10.00 per cent to N13.14, Eunisell Nigeria also shed 10.00 per cent to finish at N72.90, Transcorp Hotels slipped by 9.95 per cent to N157.50, Omatek shrank by 9.23 per cent to N1.18, and Guinea Insurance dipped by 8.46 per cent to N1.19.
Yesterday, the All-Share Index (ASI) went up by 152.28 points to 145,476.15 points from 145,323.87 points and the market capitalisation chalked up N97 billion to finish at N92.726 trillion compared with the previous day’s N92.629 trillion.
Customs Street was bubbling with activities on Thursday, though the trading volume and value slightly went down, according to data.
A total of 1.9 billion stocks worth N19.2 billion exchanged hands in 23,369 deals during the session versus the N2.3 billion valued at N21.0 billion traded in 21,513 deals a day earlier.
This showed that the number of deals increased by 8.63 per cent, the volume of transactions depleted by 17.39 per cent, and the value of trades decreased by 8.57 per cent.
For another trading day, eTranzact led the activity chart with 1.6 billion units sold for N6.4 billion, Fidelity Bank traded 31.0 million units worth N589.3 million, GTCO exchanged 28.3 million units valued at N2.5 billion, Zenith Bank transacted 27.1 million units for N1.6 billion, and Ecobank traded 21.9 million units worth N744.3 million.
By Adedapo Adesanya
The Naira marginally depreciated against the United States Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Thursday, December 4 amid renewed forex pressure associated with December.
At the official market yesterday, the Nigerian currency lost 0.01 per cent or 18 Kobo against the Dollar to close at N1,447.83/$1 compared with the previous day’s N1,447.65/$1.
It was not a different scenario with the local currency in the same market segment against the Pound Sterling as it further shed N15.43 to sell for N1,930.97/£1 versus Wednesday’s closing price of N1,925.08/£1 and declined against the Euro by 20 Kobo to finish at N1,688.74/€1 compared with the preceding session’s N1,688.54/€1.
Similarly, the Nigerian Naira lost N5 against the greenback in the black market to quote at N1,465/$1 compared with the previous day’s value of N1,460/$1 but closed flat against the Dollar at the GTBank FX counter at N1,453/$1.
Fluctuations in trading range is expected to continue during the festive season as traders expect the Nigerian currency to be stable, supported by intervention s by to the Central Bank of Nigeria (CBN)in the face of steady dollar demand.
Support is also expected in coming weeks as seasonal activities, particularly the stylised “Detty December” festivities, will see inflows that will give the Naira a boost after it depreciated mildly last month, according to a new report.
“As the festive Detty December season intensifies, inbound travel, tourism spending, and diaspora inflows are expected to provide moderate support for FX liquidity,” analysts at the research unit of FMDA said in its latest monthly report for November.
Traders cited by Reuters expect that the Naira will trade within a band of N1,443-N1,450 next week, buoyed by improved FX interventions by the apex bank.
Meanwhile, the crypto market was down as the US Federal Reserve’s preferred inflation gauge, core PCE, likely rose in September—moving in the wrong direction. However, volatility indices show no signs of major turbulence.
If the actual figure matches estimates, it would mark 55 straight months of inflation above the US central bank’s 2 per cent target. The sticky inflation would strengthen the hawkish policymakers, who are in favour of slower rate cuts.
Ripple (XRP) depreciated by 4.5 per cent to $2.08, Solana (SOL) went down by 3.8 per cent to $138.11, Litecoin (LTC) shrank by 3.1 per cent to $83.23, Dogecoin (DOGE) slid by 2.5 per cent to $0.1463, Cardano (ADA) declined by 2.1 per cent to $0.4368, Bitcoin (BTC) fell by 0.9 per cent to $91,975.45, Binance Coin (BNB) crumbled by 0.9 per cent to $899.41, and Ethereum (ETH) dropped by 0.7 per cent to $3,156.44, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 apiece.
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