Fortunly, a financial news and product review service, has listed Traders With Edge, a proprietary trading firm, among its best prop trading firms for the month of August 2023. Financial news site, Investopedia, defines proprietary trading or prop trading as follows:
“Proprietary trading refers to a financial firm or commercial bank that invests for direct market gain rather than earning commission dollars by trading on behalf of clients. Also known as “prop trading,” this type of trading activity occurs when a financial firm chooses to profit from market activities rather than thin-margin commissions obtained through client trading activity. Proprietary trading may involve the trading of stocks, bonds, commodities, currencies, or other instruments.”
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Traders With Edge operates out of Hong Kong and the United States. The firm targets two types of traders. First is the trader who is ready to pursue trading full time. The other type of trader is the individual who already trades full time but wants to move to a firm that offers her the ability to trade larger accounts.
Traders With Edge’s goal is to have 25,000 traders on its platform by the end of 2025.
Proprietary trading on the part of large banks took a hit after the Great Financial Crisis of 2007-2008. Large banks either severely reduced or abandoned altogether their proprietary trading activities. This vacuum left by the banks created an opportunity for smaller firms to occupy the proprietary trading space.
A number of proprietary trading firms, including Traders With Edge, are backed by private equity firms. Traders With Edge offers 1,172 assets for trade.
Alton Drew
14 August 2023
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