Economy
Prop Trading Jobs and Salary Insights For 2023 By Traders Union Team
Proprietary trading firms, often called prop firms, are businesses that give money to traders. In such a way they can trade things like stocks, Forex, futures, and options. If you really like trading and want to work in the fast world of financial markets, prop trading can be an exciting option. Traders Union (TU) experts have provided a comprehensive article. They explained about prop trading jobs and salary.
Finding the best jobs in proprietary trading
TU’s analysts consider that the best prop trading jobs depend on your skills and experience. Prop trading firms look for traders with a strong trading background, often in specific markets.
- Equity traders – they buy and sell stocks and other equity securities using various strategies.
- Forex traders – they focus on trading currencies in the foreign exchange market, using different approaches.
- Futures traders – they trade futures contracts tied to commodities, indices, or interest rates.
- Options traders – they deal with options contracts, which give the right to buy or sell assets at specific prices and dates, using various strategies.
Is prop trading right for me?
To determine if a prop trading job is right for you, it’s essential to understand the key aspects of this role. In prop trading, it’s more like a partnership than a traditional job. You must excel at making profitable trading decisions, and a significant portion of your income is tied to trading success. Experts at Traders Union outline the pros and cons.
Pros:
- Access to capital
Prop trading firms provide funding for traders, enabling access to more opportunities.
- Trading support
These firms offer advanced tools and support, aiding informed decision-making.
- Profit potential
Profit-sharing arrangements can yield substantial income for successful traders.
- Networking
Working in a prop firm fosters valuable industry connections and collaboration.
Cons:
- Risk management
Strict policies may limit risk-taking and trading strategies.
- Profit sharing
Traders share profits with the firm, reducing personal earnings.
- Market restrictions
Some firms limit the markets traders can access.
- Performance pressure
Prop trading can be high-pressure, with constant evaluation and competition.
Steps to start a career as a prop trader
Becoming a prop trader is challenging but achievable with a strategic approach, as recommended by TU’s experts:
- Learn market trading – understand different markets, trends, and influencing factors. Study technical and economic aspects, and develop entry and exit strategies.
- Start personal trading – begin trading with your own account to refine your skills and demonstrate your talent.
- Find a reputable prop firm – research established prop trading firms or respected investment banks. Consider earning a bachelor’s degree if possible. Apply and go through their application process, which may include an internship.
- Apply for funded programs – some remote trading firms offer funded trading programs. Apply by providing your background, education, and trading experience.
- Prepare for interviews – expect interviews about your trading skills, experience, markets of interest, and strategies.
- Consider key factors – evaluate factors like account size, profit-sharing terms, available platforms, tools, and monthly fees charged by the prop firm when deciding to become a proprietary trader.
Earning potential for a proprietary trader
Traders Union analysts noted that in prop trading, earnings depend on profit-sharing agreements, which can vary. Many prop firms offer good profit splits, like 80% for traders. Some have tiered structures, where the trader gets 100% of the first $5,000 in profits and 90% afterwards. Fidelcrest, for instance, offers a 50% split initially, but funded traders can earn up to 90/100. TopStep lets traders withdraw the first $5,000 in winnings and offers a 90% split for later gains. It’s essential to know that profitability can differ between firms, but some, like TopStep and Fidelcrest, offer coaching, large accounts, and profit splits up to 90% for potential profits.
Conclusion
The best prop trading jobs depend on your skills and interests, with various roles like equity traders, Forex traders, futures traders, and options traders to choose from. To determine if prop trading is right for you, understand its pros and cons, including access to capital, trading support, profit potential, networking opportunities, but also risk management, profit sharing, market restrictions, and performance pressure.
By Aduragbemi Omiyale
Nigeria slightly surpassed its quota set by the Organisation of the Petroleum Exporting Countries (OPEC) in July 2026.
In the month under review, the country produced about 1.57 million barrels of crude oil per day.
It was the third consecutive month Africa’s largest oil-producing nation was meeting its monthly quota, set to stabilise the price of the commodity on the global market by the oil cartel.
Data released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Wednesday showed that the 1.5 million barrels per day ceiling for Nigeria was surpassed last month.
The agency disclosed in a statement today that the country produced 1.505mbpd of crude oil and 0.17mbpd of condensate, bringing the combined daily production to 1.67mbpd.
In the month under review, the daily peak production of crude oil and condensate was 1.78mbpd, while the lowest daily production was 1.57mbpd.
Although Nigeria met its OPEC quota in the month of July, the statistics show that on a month-on-month basis, production fell by 4 per cent.
This was attributed to the decline in production due to operational challenges experienced at the Erha and Akpo fields, which impacted crude oil output during the period under review.
These disruptions constrained production volumes and contributed significantly to the overall reduction in national crude oil output.
Despite the challenges, production operations across most other producing assets remained relatively stable, with operators implementing measures aimed at maintaining production efficiency and minimising the impact of operational constraints, NUPRC stated.
By Aduragbemi Omiyale
The over 9 billion shares of Lasaco Assurance Plc issued to shareholders of the company via a rights issue have been listed on the Nigerian Exchange (NGX) Limited.
The equities were brought to Customs Street on Wednesday by the organisation, increasing its total issued and fully paid-up share capital.
Lasaco Assurance, which scaled the recapitalisation hurdle of the National Insurance Commission (NAICOM) in July 2026, raised fresh capital from the capital market to shore up its capital base.
The underwriting firm got about N18.5 billion from the rights issue, which involved the issuance of 9,236,321,546 ordinary shares at a unit price of N2.00.
The exercise was on the basis of five new ordinary shares for every existing six ordinary shares held as of the close of business on Friday, February 20, 2026.
Confirming the listing of the additional stocks of Lasaco Assurance today, the Head of Issuer Regulation Department of NGX RegCo, Mr Godstime Iwenekhai, announced in a circular that, “Trading licence holders are hereby notified that an additional 9,236,321,546 ordinary shares of 50 Kobo each of Lasaco Assurance Plc were today, Wednesday, August 12, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 9,236,321,546 ordinary shares of 50 Kobo each at N2.00 per share on the basis of five new ordinary shares for every existing six ordinary shares held as of the close of business on Friday, February 20, 2026.
“With the listing of the additional 9,236,321,546 ordinary shares, the total issued and fully paid-up share capital of Lasaco Assurance Plc has now increased from 11,083,585,855 to 20,319,907,401 ordinary shares of 50 Kobo each.”
By Adedapo Adesanya
The Nigerian Insurers Association (NIA) has said the successful recapitalisation of the insurance industry will strengthen the sector’s ability to support financial stability and economic growth.
NIA Chairman, Mrs Ebelechukwu Nwachukwu, said a well-capitalised insurance industry would be better positioned to meet its obligations promptly, underwrite complex and large-scale risks and serve as a dependable pillar of the Nigerian economy.
She made the remarks while commending the National Insurance Commission (NAICOM) for its structured implementation of the new minimum capital requirements under the Nigerian Insurance Industry Reform Act (NIIRA) 2025.
Mrs Nwachukwu said NAICOM’s clear guidelines, systematic verification process, defined timelines and rigorous supervision had provided operators with a credible framework for navigating the recapitalisation exercise.
She described the outcome as a major milestone for the industry and congratulated the 43 insurance and reinsurance companies that have successfully met the prescribed minimum capital requirements.
According to her, the exercise represents “a major win not just for regulators and operators, but for policyholders, investors and the wider Nigerian economy.”
Mrs Nwachukwu said the association would continue to work with NAICOM and other stakeholders to consolidate the gains of the exercise, with emphasis on sustainable industry growth, stronger market conduct and improved consumer confidence.
The official also expressed solidarity with the eight companies still undergoing final verification and regulatory review, urging them to remain confident as NAICOM completes the process within the 14-day review period.
The NIA chairman assured policyholders and the wider business community that the insurance industry would emerge from the recapitalisation exercise stronger, more resilient and better positioned to contribute to Nigeria’s economic development.
