Economy
Remote Prop Trading Firms vs Traditional Prop Firms – Which is Better?
Remote prop firms and traditional prop firms indeed represent two distinct approaches to Forex trading. Traditional prop firms typically operate from physical office spaces where traders work in a shared environment, collaborating and interacting with fellow traders and firm employees. On the other hand, remote prop trading firms allow traders to work from anywhere, leveraging technology and internet connectivity to execute trades and manage their trading activities. In their article, the Traders Union experts answered the question “Remote prop trading firms vs traditional prop firms – which is better?”.
What is a remote prop trading firm?
A remote prop trading firm is a financial institution that allows traders to engage in proprietary trading activities from anywhere using technology and internet connectivity. Unlike traditional prop trading firms that require traders to work from a physical office location, remote prop trading firms embrace a flexible and location-independent approach.
In a remote prop trading firm, traders have the freedom to work from their preferred location, whether it be their home, a co-working space, or any other place with internet access. They use trading platforms provided by the firm to analyze the markets, execute trades, and manage their trading positions.
Advantages and disadvantages of remote prop trading firms
The Traders Union analysts listed some of the pros and cons of remote prop trading firms, so that you can make an informed decision.
Pros:
- Flexibility. One of the major benefits of remote prop trading firms is the flexibility they offer. Traders have the freedom to work from anywhere, allowing for a personalized work environment and the ability to create their own schedules. This flexibility can be appealing for individuals who prefer a flexible lifestyle or have other commitments.
- Independence. Remote prop trading firms eliminate the need for traders to commute to a physical office. Traders can work from any location with internet access, enabling them to avoid long commutes and potentially live in areas with lower living costs or desired lifestyle factors.
- Autonomy. Traders in remote prop firms have a greater degree of independence. They have control over their trading activities, decision-making, and risk management. This autonomy can be empowering for traders who prefer to work on their own terms.
Cons:
- Lack of in-person interaction. Remote prop trading firms may lack the in-person interaction and collaboration that traditional prop firms offer. Traders may miss out on the immediate feedback, learning opportunities, and sense of community that come with working in a physical office environment.
- Limited networking opportunities. Remote traders may have limited opportunities for networking and building relationships within the trading community. Physical prop firms often provide a platform for traders to connect, share ideas, and learn from each other, which may be less prevalent in a remote setting.
- Potential isolation. Working remotely can be isolating for some traders, as they may miss the social interactions and camaraderie found in a traditional office environment. The lack of daily interactions with colleagues may impact motivation and engagement for certain individuals.
Best remote prop trading firms
According to the experts at TU, the following are the best remote prop trading firms:
- Fidelcrest
Fidelcrest, headquartered in Nicosia, Cyprus, is a prominent Forex prop trading firm that focuses on serving skilled Forex traders. They specialize in providing real-funded trading accounts that are tailored to meet specific requirements.
One of the key features of Fidelcrest is their profit-sharing arrangement, which can reach up to 90%. This means that traders can retain a significant portion of the profits they generate, providing a lucrative opportunity for successful trading.
- SurgeTrader
Headquartered in Nicosia, Cyprus, Fidelcrest is a reputable Forex prop trading firm that focuses on serving skilled Forex traders. Their specialization lies in providing real-funded trading accounts tailored to meet specific requirements.
A standout feature of Fidelcrest is their profit-sharing program, which allows traders to retain a significant portion of their generated profits. With profit-sharing options that can go as high as 90%, Fidelcrest offers a potentially lucrative opportunity for successful traders.
Summary
To sum up, remote prop trading firms have emerged as a flexible and innovative approach to financial trading. These firms enable traders to engage in proprietary trading activities from anywhere using technology and internet connectivity. on the Traders Union website you can read more about the best remote prop trading firms. Moreover, the analysts at TU compared traditional and remote prop firms and highlighted the pros and cons of both types.
By Adedapo Adesanya
The duo of Geo-Fluids Plc and Afriland Properties Plc propelled the NASD Over-the-Counter (OTC) Securities Exchange up 0.13 per cent on Friday, January 10.
Investors gained N1.4 billion during the trading session after the market capitalisation of the bourse ended at N1.053 trillion compared with the previous day’s N1.052 trillion, and the NASD Unlisted Security Index (NSI) increased at the close of business by 4.07 points to wrap the session at 3,073.93 points compared with 3,069.86 points recorded at the previous session.
Geo-Fluids added 25 Kobo to its value to close at N4.85 per unit compared with the previous session’s N4.60 per unit, and Afriland Properties Plc gained 24 Kobo to close at N16.25 per share versus Thursday’s closing price of N16.01 per share.
There was a 35.4 per cent fall in the volume of securities traded in the session as investors exchanged 4.3 million units compared to 6.6 million units traded in the preceding session, the value of shares traded yesterday went down by 37.4 per cent to N17.2 million from the N27.5 million recorded a day earlier, and the number of deals decreased by 47.2 per cent to 19 deals from the 36 deals recorded in the preceding day.
FrieslandCampina Wamco Nigeria Plc remained the most active stock by value (year-to-date) with 1.9 million units worth N74.2 million, followed by 11 Plc with 12,963 units valued at N3.2 million, and Industrial and General Insurance (IGI )Plc with 10.7 million units sold for N2.1 million.
IGI Plc closed the day as the most active stock by volume (year-to-date) with 10.6 million units sold for N2.1 million, trailed by FrieslandCampina Wamco Nigeria Plc with 1.9 million units valued at N74.2 million, and Acorn Petroleum Plc with 1.2 million units worth N1.9 million.
By Adedapo Adesanya
The Naira witnessed a depreciation on the US Dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Friday, January 10.
According to data from the FMDQ Exchange, the local currency weakened against the greenback yesterday by 0.12 per cent or N1.80 to sell for N1,543.03/$1 compared with the preceding day’s N1,541.23/$1.
The pressure on the domestic currency came as the access granted to the Bureaux de Change (BDC) operators by the Central Bank of Nigeria (CBN) to purchase FX from the official market through the Electronic Foreign Exchange Matching System (EFEMS) platform prepares to end next week, precisely on January 19.
The CBN had given a 42-day window to the operators to access the platform to help stabilise the Naira in December, and this expires next week.
On Friday, the Nigerian currency tumbled against the Pound Sterling in the official market by N30.78 to sell for N1,889.29/£1 compared with the previous day’s N1,858.51/£1, but gained N5.48 against the Euro to finish at N1,583.81/€1, in contrast to Thursday’s rate of N1,589.29/€1.
As for the parallel market, the Nigerian Naira remained stable against the US Dollar during the trading session at N1,650/$1, according to data obtained by Business Post.
In the cryptocurrency market, it was bearish as the US economy added 256,000 jobs last month, the Bureau of Labor Statistics reported on Friday, topping forecasts for 160,000 and up from 212,000 in November (revised from an originally reported 227,000).
However, the readings came after a number of recent economic reports triggered a broad-market pullback across asset classes such as crypto as investors quickly scaled back the idea of a continued series of Federal Reserve rate cuts in 2025.
Cardano (ADA) fell by 3.6 per cent to trade at $0.921, Solana (SOL) slumped by 2.8 per cent to $185.93, Ethereum (ETH) depreciated by 1.4 per cent to $3,233.27, Litecoin (LTC) lost 1.3 per cent to finish at $103.62, Dogecoin (DOGE) shed 0.5 per cent to sell at $0.3315, Bitcoin (BTC), waned by 0.2 per cent to $94,154.43, and Binance Coin (BNB) went south by 0.1 per cent to $693.30.
On the flip side, Ripple (XRP) jumped by 1.5 per cent to settle at $2.34, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) sold flat at $1.00 each.
By Dipo Olowookere
Profit-takers took control of Customs Street on Friday, plunging it by 0.08 per cent at the close of trading activities.
The sell-offs were across all the key sectors of the Nigerian Exchange (NGX) Limited on last trading session of the week.
The insurance space went down by 1.53 per cent, the banking index depreciated by 0.41 per cent, the consumer goods sector weakened by 0.16 per cent, and the energy counter slumped by 0.08 per cent, while the industrial goods sector closed flat.
At the close of business, the All-Share Index (ASI) tumbled by 79.68 points to 105,451.06 points from 105,530.74 points and the market capitalisation retreated by N48 billion to N64.303 trillion from N64.351 trillion.
Yesterday, investors traded 1.5 billion shares worth N19.4 billion in 12,877 deals compared with the 489.5 million shares worth N13.1 billion transacted in 13,010 deals in the preceding day, indicating a decline in the number of deals by 1.02 deals and a rise in the trading volume and value by 203.14 per cent and 48.09 per cent, respectively.
Wema Bank was the busiest stock with 976.2 million units valued at N9.8 billion, Tantalizers traded 53.0 million units worth 129.6 million, Universal Insurance sold 34.8 million units for N26.8 million, Access Holdings exchanged 33.9 million units valued at N843.8 million, and Nigerian Breweries traded 27.3 million units worth N873.3 million.
The heaviest loss was suffered by Sunu Assurances with a decline of 9.99 per cent to trade at N7.30, Eunisell shed 9.96 per cent to N17.35, SAHCO crumbled by 9.87 per cent to N30.15, DAAR Communications plunged by 9.28 per cent to 88 Kobo, and Sovereign Trust Insurance went down by 7.04 per cent to N1.32.
On the flip side, C&I Leasing gained 10.00 per cent to close at N4.51, Honeywell Flour appreciated by 9.99 per cent to N10.02, Trans Nationwide Express jumped by 9.89 per cent to N2.00, RT Briscoe rose by 9.83 per cent to N2.57, and Secure Electronic Technology grew by 9.46 per cent to 81 Kobo.
Business Post reports that the bourse ended with 33 price gainers and 25 price losers, indicating a positive market breadth index and strong investor sentiment.
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