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
The Debt Management Office (DMO) on Monday allotted bonds worth N929.3 billion to investors from the N1.7 trillion bids it received from subscribers.
The exercise, which took place on Monday, July 20, 2026, was oversubscribed by market participants, reflecting the confidence investors have in the government’s ability to redeem the debt instrument on maturity.
On offer for sale for the July auction was N1.2 trillion worth of the FGN bonds, but the DMO allotted below this, despite receiving bids above the offer.
The papers were offered in 10-year, 15-year, and 20-year tenors, at N400 billion each.
For the decade-old note, investors staked N444.47 billion, but the debt office sold N245.73 billion at an 18.34 per cent coupon rate. For the one and a half-decade-old paper, bids valued at N518.00 billion were received by the DMO, with a non-competitive bid of N50.00 billion, with N302.13 billion allotted to investors at 18.40 per cent, and for the two-decade paper, the DMO got competitive bids of N665.19 billion and N381.46 billion was sold to bondholders at 18.35 per cent.
By Adedapo Adesanya
The Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso, disclosed that Nigeria’s external reserves had risen to $52.5 billion, enough to finance about nine months of imports.
He disclosed this on Tuesday at the end of the 306th meeting of the Monetary Policy Committee (MPC) held in Abuja, where the Monetary Policy Committee (MPC) retained the benchmark interest rate at 26.50 per cent as well as the standing facilities corridor at +50/-450 basis points around the MPR.
Similarly, the Cash Reserve Requirement (CRR) was maintained at 45 per cent for Deposit Money Banks, 16 per cent for Merchant Banks, and 75 per cent for non-Treasury Single Account (TSA) public sector deposits.
Speaking on FX developments, the central banker said at the $52 billion level, the country’s external reserves were significantly above the internationally recommended threshold of three months of import cover.
On the Naira exchange rate, Mr Cardoso said the foreign exchange market had deepened and was now operating on a transparent willing-buyer, willing-seller basis.
He said the apex bank remained committed to maintaining a liquid and functional foreign exchange market, adding that daily market turnover sometimes exceeded $1 billion.
According to him, the long-term stability of the naira would depend on key economic fundamentals, including increased oil exports, foreign direct investment, and improved domestic productivity to reduce dependence on imports.
He also added that the MPC welcomed the federal government’s renewed commitment to stronger policy coordination, particularly collaboration between fiscal and monetary authorities, which he said had helped reduce the impact of the Middle East crisis on the Nigerian economy.
Mr Cardoso said members of the committee also commended efforts to improve crude oil production and urged relevant agencies to intensify reforms in other sectors, including solid minerals, to boost government revenue.
On the regulatory forbearance granted to banks during the COVID-19 period, he reiterated that this had been discontinued because it had served its purpose.
According to him, the policy had “outlived its time” and was no longer necessary in assessing the health of the banking sector.
“Forbearance, we felt, had outlived its time. Many of you will recall this is something that came as a result of COVID. And now we are in 2026; we did not see the reason why that should continue to form part of the analysis of the banking system,” he said.
Mr Cardoso explained that banks had begun recalibrating their portfolios following the end of the policy, leading to a temporary reduction in outstanding risk assets.
He, however, assured that the development was part of a transition towards a stronger and more sustainable credit environment.
“It reflects a transition to a more sustainable and better quality credit environment, which is what we all want. We don’t want unanticipated shocks that come in a boom-and-bust fashion,” he said.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange extended its recent positive run by 1.17 per cent on Tuesday, July 21, triggered by appreciation seen in four bellwethers.
Leading the pack was FrieslandCampina Wamco Nigeria Plc, which added N12.00 to its value to close at N153.15 per share compared with the previous day’s N141.15 per share. NASD Plc appreciated by N1.90 to N36.00 per unit from N34.10 per unit, Food Concepts Plc improved by 23 Kobo to N2.48 per share from N2.25 per share, and Afriland Properties Plc grew by a marginal 1 Kobo to N15.01 per unit from N15.00 per unit.
As a result, the market capitalisation of the bourse increased by N30.40 billion to N2.637 trillion from Monday’s N2.606 trillion, and the NASD Security Index (NSI) gained 50.70 points to finish at 4,393.97 points, in contrast to the 4,343.27 points it ended a day earlier.
The unlisted securities exchange recorded a price loser yesterday, and it was Geo-Fluids Plc, which shed 1 Kobo to settle at N2.30 per share versus N2.31 per share.
During the trading day, the volume of securities traded by market participants on Tuesday dropped 99.4 per cent to 322,147 units from the previous day’s 52.6 million units, the value of securities dipped by 89.8 per cent to N19.4 million from the preceding session’s N191.2 million, and the number of deals contracted by 3.6 per cent to 27 deals from 28 deals.
Great Nigeria Insurance (GNI) Plc ended the day as the most traded stock by value on a year-to-date basis, with 3.4 billion units traded for N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units transacted for N6.5 billion, and Central Securities Clearing System (CSCS) Plc with 75.4 million units exchanged for N5.3 billion.
GNI Plc also closed the day as the most traded stock by volume on a year-to-date basis, with 3.4 billion units worth N8.4 billion, followed by Infracredit Plc with 2.3 billion units valued at N6.5 billion, and Resourcery Plc with 1.1 billion units sold for N415.7 million.
