Whether you’re a retail trader looking for additional capital or a smart student looking for a fantastic firm, we’ve got you covered.
We reached out to 300+ retail traders who passed trading challenges to get their thoughts on each firm. If that wasn’t enough, we also reached out to 50+ proprietary trading firms and ranked them based on their feedback from their top competitors.
Check out the survey results and see our top picks:
Best Prop Trading Firms for Funding (Ranked by Traders)
The best prop firms for a retail trader looking for additional training and capital, rated by other traders in our survey and by our own personal experience, are below.
1 Topstep
Best Overall Prop Trading Firm (Futures)
Well-established and trustworthy
Dedicated coach
High payouts
Great community
Only 50k, 100k, and 150k funding options
No refundable registration fee
Trade only futures
Topstep Trading is the all-around best option if you trade futures and are looking to access additional capital. They have some of the best profit splits in the industry and provide traders with a mentor and access to seasoned professionals.
Features
Topstep has a reputation for excellence. With the quick payback time, a first payout bonus, and a ninety-percent profit split, there’s no secret why more than 6,000 proprietary traders call it home.
But I would argue that the mentorship and training program is even more important than the high-profit potential. This is why 97% of funded traders say that Topstep significantly improved their trading.
In summary, here are Topstep’s key features:
14-day free trial – You can try before buying to ensure Topstep is right for you.
Generous profit split – Keep 100% of your first $5,000, and 90% of everything you make thereafter.
Trader development – A dedicated 1:1 coach, group coaching webinars, access to prep-trade-reflect, and education courses.
Multiple supported trading platforms – TradingView, Ninjatrader, TSTrader, Bookmap X-ray, CTS, daytradr, Investor RT, MotiveWave, Culticharts, Sierra Chart, Trade Navigator, Volfix, and more.
Variety of payment methods – Pay fees via PayPal, Visa, AmEx, and Discover with traders in over 143 countries.
Great community – Connect with peers in the Topstep Discord.
Tradable Products
You can trade equity, forex, agricultural, energy, and interest rate futures. The full list is below.
Trading Evaluation
The Trading Combine is a two-step learning and evaluation program for futures traders. Traders test and grow their skills in simulated markets, and earn funding upon achieving certain trading objectives.
Trading Platforms
Topstep supports all of the major trading platforms. You can reach out to them directly if you don’t see your platform of choice.
Pricing
The initial fee is low compared to others, but the recurring fee may drive some traders away.
This is a mistake; you need to look at the total fees paid versus the payout. When you consider you earn 100% of the first $5,000, the monthly fee becomes a non-issue when compared to other providers.
Our Experience With Topstep
We rated Topstep as number one due to trader feedback and our personal experience, so it’s pretty obvious how we feel about them. They’re extremely supportive. I get more communications from Topstep than any other prop firm. These include the weekly kickoffs and other trading group calls.
The discord is pretty active, with over 1,000 members online as I write this. The most lively chat occurs in the trading rooms, such as indices.
Our Honest Take
Topstep is the best option for futures traders looking to earn more by getting funded and networking with other traders. They’ve got a proven track record, great coaching, and a vibrant community.
You can get started with TopStep right now:
2 FTMO
Best for Forex and CFDs
Well-established with the highest review score.
Access to MT4, MT5, and CTrader with liquidity provider data.
No swing trading limits.
1:100 leverage.
No Tradingview and other trading platforms.
Limited futures trading options.
Can be a little more expensive compared to alternatives.
FTMO came out on top as the highest-rated proprietary trading firm based on a peer review. They are the best choice if you are looking to increase your returns with additional capital and trade forex or CFDs.
Features
FTMO empowers its traders with performance coaching, a trading academy, and the best software in the business, such as trading journals and statistical apps, to help elevate your trading.
With a profit split of up to 90% and over $97 million paid out to traders in over 180 countries, it’s no wonder why FTMO takes the top spot for forex traders.
In summary, here are FTMO’s key features:
14-day free trial – The 14-day free trial is a shortened version of the FTMO Challenge. You can practice trading alongside veterans without risking anything and monitor your performance in the Account MetriX app.
Scaling plan – Increase your account balance limits by 25% every four months to a maximum of $400,000.
Trader development – A dedicated 1:1 coach and trader university courses.
Monthly payouts – Traders receive profit payouts monthly.
Great software – The FTMO interfaces and trading apps are lightyears ahead of the competition. Analyzing performance and potential edges is a breeze.
Tradable Products
You can trade forex, indices, cryptos, and commodities. I listed the forex below but showing all the assets would take up too much space, so I suggest you visit their site for the full list.
Trading Evaluation
The FTMO Challenge is a two-step learning and evaluation program for Forex and CFD traders. Traders test and grow their skills in the simulated market and must meet the following trading objectives.
Trading Platforms
FTMO supports MetaTrader and cTrader. The limited trading platform options are why I listed this as one of the few downsides to FTMO.
Pricing
The initial fee is a little higher than other options, but it’s only a one-time fee, and they empower traders with better tools.
Our Experience With FTMO
FTMO has the best user interface and software apps out of all of the prop firms we’ve tested. They’ve built a Chat with Charts app that allows you to join rooms and share charts, but I would prefer they switch to discord.
Our Honest Take
FTMO is likely the best option for undercapitalized forex traders looking to earn more trading the firm’s money. They’ve got a proven track record, great coaching, and a vibrant community. They’re one of the old and most-trusted prop firms out there.
Get started with FTMO right now:
3 Fidelcrest
Best Prop Trading Firm (Crypto)
Highly rated
Manage up to two million
No country restrictions
Excellent support staff
Lack of educational material
Difficult for beginning traders
Only MT4 & MT5 are supported
Fidelcrest is the best option for crypto traders seeking additional capital. They have some of the best funding options with extremely high capital ceilings and leverage.
Features
Fidelcrest is one of the fastest-growing prop trading firms. They started in 2018 and already have over 6,000+ traders calling Fidelcrest home. They have some of the best execution prices and a wide range of assets to trade.
In summary, here are Fidelcrest’s key features:
Transparent pricing – No recurring charges, membership, or hidden fees.
Low spreads – Raw spreads starting from 0 pips or commissions.
Lots of Levels – Availability of multiple types of accounts with various risk levels.
Multiple instruments – Trade over 175+ products with spreads and commissions designed for trading.
Leverage options – Platform accounts can leverage up to 1:100.
Fantastic support – They have an excellent support staff.
Tradable Products
You can trade a variety of instruments, which can be found in your user dashboard after creating an account.
Trading Evaluation
The Fidelcrest Trading Challenge is a two-step evaluation program. You test and grow their skills in simulated markets, and earn funding upon passing Step 2. Fidelcrest’s trading challenge is one of the most difficult due to Step 2’s maximum loss being cut in half.
Trading Platforms
Fideltcrest supports MetaTrader 4 through its web interface.
Pricing
Fidelcrest has a reasonable pricing split into Micro Trader and Professional Trader Challenges. The Micro Trader pricing starts at roughly $100, while the Professional Trader begins at around $700.
Our Experience With Fidelcrest
The community rates Fidelcrest as one of the best prop trader firms due to its reputation and potential funding. Their support team is the best in the industry, in my opinion.
Our Honest Take
Fidelcrest is best for expert traders. They do not support their traders with mentors or group training like Topstep; they expect you to come in trading profitably. If you’re an excellent trader looking for lots of funding and are comfortable with Metatrader, Fidelcrest is where you should be.
You can get started with Fidelcrest today:
4 SurgeTrader
Best Prop Firm Stocks & Crypto
Most tradable assets
No strategy restrictions
Based in the USA and backed by venture capital
Transparent with all conditions public
No $10K challenge
Limited to EightCap MT4 or EightCap MT5
SurgeTrader is the best option for those looking to trade lots of assets. While most prop firms allow you to trade roughly 200 tickers, you can trade over 1,000 at SurgeTrader
Features
SurgeTrader has grown into one of the most reputable remote prop trading firms. The rules are simple and clear, with no weekend positions.
In summary, here are SurgeTrader’s key features:
One-time fee – No recurring or hidden fees.
No minimum trading days – Pass, and you’re in. There are no minimum trading days.
Simple rules – There are only three simple rules to pass the challenge.
Great community – Connect with peers in the SurgeTrader Discord.
Tradable Products
SurgeTrade allows for trading 1,192 assets across the following markets:
- Stocks: 646
- Crypto: 375
- Forex: 46
- Indices: 17
- Metals: 3
- Oil: 2
Trading Evaluation
The SurgeTrader Trading Audition is a one-step evaluation program. Traders place trades in simulated markets and earn funding when they meet the trading objective.
Trading Platforms
SurgeTrader uses EightCap’s MT4 and MT5 platforms.
Pricing
SurgeTrader’s pricing aligns with the competition but doesn’t provide a $10,000 challenge. This makes it a little more expensive for new traders that want to experiment with prop trading firms with lower capital.
Our Experience With SurgeTrader
We rated SurgeTrader as it has great feedback from other traders and has more assets to trade than any other prop firm by a mile. They also have a vibrant discord with over 5,778 members.
Our Honest Take
SurgeTrader is the best option for traders whose strategies rely on a diverse asset group. We don’t like that they don’t offer a $10k challenge, but this is somewhat offset by the one-step challenge with no minimum trading days.
You can get started with SurgeTrader right now:
Best Proprietary Trading Firms for Careers (Peer Rated)
The top prop trading firms, as rated by their peers in our survey, are:
Aside from the top five, we’ve broken down the best prop trading firms by headquarters location in Alphabetical order below.
Best Chicago Proprietary Trading Firms
Chicago is the options capital of the world and the heart of the derivatives industry. The city is also known as the hub of proprietary trading.
3Red Partners
Strategy: 3Red Partners develops and deploys trading strategies with a scientific approach while leveraging cutting-edge research platforms and creating a scenario to generate maximum returns.
Description: 3Red is a prop trading firm that leverages technology and quantitative research to execute various trading strategies alongside risk management and response to dynamic situations. It is a prop trading start-up with offices in Chicago and New York, but it has extensive, global experience in various asset classes and trading technologies.
Leadership:
- Igor Oystacher, Managing Partner, CEO
- George Monogyios, Managing Partner, Head of Trading
Locations:
- Chicago
Akuna Capital
Strategy: Akuna Capital majorly participates in derivative market-making and arbitrage.
Description: Akuna Capital was founded in 2011. Akuna is one of the few under-the-radar firms to act as an options market maker and liquidity provider. The firm has a significant share in derivatives trading and a prominent presence in the cryptocurrency space. However, it also operates across many Commodities, Indices, Currencies, and Treasuries. Akuna continues to expand its trading operations globally.
Leadership:
- Andrew Killion, Chief Executive Officer
Allston Trading
Strategy: The firm focuses on quantitative techniques and implements high frequency / low latency trading strategies in futures and cash markets. The company’s primary focus is bond and fixed income space, but it also has other asset classes such as equity index, agriculture, and energy. The firm has a market-beating approach that focuses on high-end technology.
Description: Allston Trading was founded in 2002 by former CME floor traders. It is one of the leading electronic trading and market-making firms that provide liquidity in the global commodity and financial futures markets. The firm invests massively in optimizing its systems and infrastructure to assure world-class trading performance and rapid technology development.
Leadership:
- Raj Mahajan, Chief Executive Officer
Locations:
- Chicago
- Huston
- London
- New York
Belvedere Trading
Strategy: Belvedere Trading is actively involved in derivative market-making and arbitrage.
Description: Belvedere Trading is a leading proprietary trading firm located in Chicago. Since 2002, this firm has primarily operated in equity index and commodity derivatives.
Leadership:
- Yezdaan Baber, CEO
- Thomas Hutchinson, Owner
Locations:
- Chicago
Chicago Trading Company
Strategy: Chicago Trading Company is involved in core prop trading
Description: Founded in 1995, Chicago Trading Company is a proprietary trading firm composed of technologists, quants, operations professionals, and traders. The firm works within one of the most complex markets and focuses on constant innovation through collaboration.
Leadership:
- Eric Chern, Co-Founder
- Daniel Feuser, CEO
Locations:
- Chicago
- London
- Hong Kong
Citadel Securities
Strategy: Citadel is involved in Options Market-Making and Quantitative Strategies. The firm operates through close integration of trading, quantitative research, and technology. The company also manages risk effectively and identifies opportunities to deploy capital optimally.
Description: Citadel Securities is a prop firm that applies systematic strategies across a diverse set of asset classes that includes equities, sovereign bonds, fixed income, credit, commodities, and currencies. Some of the other responsibilities are conducting research and analysis and evaluating financial instruments. Citadel employs a mix of fundamental, technical, statistical, and sometimes quantitative methods to support investment decisions.
Leadership:
- Peng Zhao, CEO
Locations:
- Chicago
- New York
- London
- Hong Kong
- Toronto
- Austin
- Sidney
- Zurich
- Shanghai
- Dublin
- Singapore
DRW Trading
Strategy: DRW is a diversified trading firm that utilizes its capital for trading and manages its own risk. The firm leverages technology, risk management, and research to develop optimal investment and trading strategies.
Description: DRW is a technology-driven proprietary trading firm that trades across several asset classes and instruments leveraging different models.
Leadership:
- Don Wilson, Founder & CEO
Location:
- Chicago
- Amsterdam
- Austin
- Greenwich
- Huston
- London
- Montreal
- New York
- Singapore
- Tel Aviv
DV Trading
Strategy: DV Trading acts as a market-maker providing liquidity. The firm also adopts global macro as a part of its strategy.
Description: DV Trading was founded in 2006 under the Rosenthal Collins Group in Toronto, Canada, but established as an independent company only in 2016. DV Trading now functions as a proprietary trading firm with a significant global presence in derivatives and securities exchanges.
DV actively participates in the marketplace on a liquidity provisioning and a global macro basis. The firm’s DV Energy division also trades physical crude oil, refined products, and natural gas.
Leadership:
- Jared Vegosen, Co-Founder
- Dino Verbrugge, Co-Founder
Locations:
- Chicago
- Toronto
- New York
Gelber Group
Strategy: Gelber Group has a unique approach to algorithmic trading places wherein it focuses on strategic partnerships where researchers, engineers, and traders collectively develop and optimize systems. The firm supports low latency-insensitive methods with an equal focus on risk management.
Description: Set up in 1982, Gelber Group is privately funded and develops proprietary technology-based trading models for dealing in equities, cash, currencies, commodities, sovereign debt, futures, and related options markets.
Leadership:
- Brian Gelber, CEO
- Frank Gelber, CFO
Locations:
- Chicago
- New York
- San Diego
Geneva Trading
Strategy: Geneva Trading employs diversified trading strategies for the derivatives market. The prop firm focuses on generating alpha, innovating technology, managing risk management, and making markets more efficient.
Description: Geneva Trading was founded in 1999, and it opened its office in Chicago in 2000. The prop firm has a heavy dependence on data science and leverages its proprietary software to enhance its participation in the global markets.
Leadership:
- Rob Creamer, President & CEO
Locations:
- Chicago
- Dublin
Grace Hall Trading
Strategy: Grace Hall Trading specializes in transactional arbitrage, statistical & volatility arbitrage as well as event-driven trading. The firm is involved in High-Frequency Trading.
Description: Grace Hall Trading was founded in 2008. Since then, it has carved a niche in the U.S. equity options space. However, it operates in other asset classes too. The trading firm specializes in complex algorithmic trading and fundamental volatility arbitrage strategies.
Leadership:
- Joe Van Hecke, Founder & Managing Partner
Locations:
- Chicago
- Charlotte
Group One Trading
Strategy: Group One is a focused market-maker in U.S. equity options. It leverages efficient risk management and software development. They aim at profits with a winning combination of astute pricing judgment, real-time risk management, and advanced technology.
Description: Group One, founded in 1989, is one of the largest privately held options trading firms in the United States. They conduct a three-phased Analyst Training Program that mentors young traders to place profitable trades. Group One manages portfolios of numerous securities and electronically streams two-sided quotes over several exchanges.
Leadership:
- John Kinahan, CEO
Locations:
- Chicago
- New York
- San Francisco
- Philadelphia
Hehmeyer Nortide AG
Strategy: Hehmeyer Nortide AG is a prop trading firm that focuses on algorithmic trading and adopts a market-making approach in digital currencies.
Description: Rebranded as Hehmeyer, the firm has consolidated its business segments into algorithmic trading and market making in cryptocurrencies. Hehmeyer operates on numerous request-for-quote platforms and has a presence in over-the-counter (OTC) markets through FIX API, REST API, GUI, and other mediums.
Leadership:
Chris Hehmeyer, CEO
Location:
- Chicago
IMC Financial Markets
Strategy: IMC Financial is a market-maker that specializes in algorithmic trading and cutting-edge technology.
Description: Founded in 1989, IMC Trading is a proprietary trading firm that acts as a market maker. It provides liquidity for over 200,00 financial instruments, including equities, bonds, commodities, and currencies listed on over 100 exchanges.
IMC is a technology-driven trading firm and a significant liquidity provider on the NYSE Arca, NASDAQ, CBOE, BATS, and CME exchanges. The firm uses highly automated systems and trading strategies to aim at “tighter” spreads between bids and offer lower transaction costs for traders.
Leadership:
- Robert Defares, CEO
Locations:
- Chicago
- Amsterdam
- Sydney
Jump Trading
Strategy: Jump Trading is involved in algorithmic and high-frequency trading strategies.
Description: Jump Trading is a renowned, proprietary trading firm that prioritizes algorithmic trading. Jump Trading is a privately funded company actively involved in futures, options, cryptocurrency, and global stock markets.
Leadership:
- Paul Gurinas, Co-Founder
- Bill Disomma, Co-Founder
Locations:
- Chicago
- New York
- London
- Singapore
- Shanghai
- Amsterdam
- Bristol
- Gurugram
- Hong Kong
- Paris
Marquette Partners
Strategy: Marquette Partners leverages a multi-faceted trading style that covers a broad asset base. The firm is also actively involved in algorithmic trading on futures and cash instruments.
Description: Marquette Partners is a leading proprietary trading firm that trades various asset classes that include options on fixed income securities, agricultural products, and commodities on significant exchanges globally.
Leadership:
- James F. Heinz, Co-Founder
- Robert B. Moore, Co-Founder
Location:
- Chicago
Optiver
Strategy: Optiver acts as a market maker on various exchanges. The firm continues to offer the narrowest bid-ask spread to inject liquidity into the market and bear additional risks.
Description: Optiver is a proprietary trading firm and market maker for exchange-listed financial instruments such as derivatives, cash equities, exchange-traded funds, bonds, and foreign exchange. This prop firm is privately owned.
Leadership:
- Jan Boomaars, CEO
Locations:
- Chicago
- Sydney
- Amsterdam
- London
- Shanghai
- Taipei
- Hong Kong
Peak 6 Investments
Strategy: Peak 6 is a pure Prop trading and market-making firm. The firm also offers liquidity and risk management services to the options market.
Description: PEAK6 Investments is a financial services firm that includes market making, risk management, proprietary trading, and hedge fund operations. The company’s subsidiary PEAK6 Capital Management is a significant options market maker and proprietary trading firm., one of the largest options traders in the U.S.
Leadership:
Location:
- Chicago
- New York
- Santa Monica
- Seattle
Prime International Trading
Strategy: Prime International Trading specializes in global futures, options, and U.S. equities
Description: Prime Trading was founded in 1985 as. a prop trading firm specializing in the trading of Futures and Options in Treasuries, Energies, Grains, and Metals. Prime International is a proprietary trading firm globally spread across Europe, Asia, and South America, assuring that its traders have a robust international base for maximizing earnings potential.
Leadership:
- Fred Bowers, CEO
- James Barclay, COO
Locations:
- Chicago
- New York
Simplex Investments
Strategy: Simplex Investment is concentrated in technology-oriented proprietary trading.
Description: Simplex Investments create software to capitalize on financial market opportunity. The firm pulls the strategies conceived by its traders into an efficient code. The firm focuses on innovation and learning, for which it leverages capital and cutting-edge technical resources.
Leadership:
- Erik Swanson, CEO
Location:
- Chicago
Topstep
Strategy: Top Step offers a safe training platform for traders to professionally pursue their dream and earn profit in the financial markets.
Description: TopstepTrader is a financial technology firm that allows day traders’ to operate in real-time simulated accounts and assess their performance. Traders who clear the firm’s evaluation get a trading account to operate in the forex market with the firm’s capital.
Leadership:
- Jay Rudman, CEO
Locations:
- Chicago
Tradelink
Strategy: TradeLink focuses on designing and implementing quantitative models that draw on the firm’s considerable expertise in trading, research, and technology.
Description: TradeLink, founded in 1979, is a global proprietary trading and investment management firm. Since its inception, TradeLink has been a pioneer in algorithmic trading, options market making, and quantitative modeling. The firm’s approach to trading includes advanced technology, market experience, proprietary platforms, strategic risk management, and agile capital deployment.
Leadership:
- Monty Corell, President
Locations:
- Chicago
- Miami
- London
- Warsaw
Transmarket Group
Strategy: Transmarket Group utilizes quantitative mathematical modeling and technology to trade in the financial industry as a market maker.
Description: Founded in 1980, TransMarket Group is a global proprietary trading firm. It utilizes disruptive technology to grab opportunities worldwide and efficiently manage risk.
Leadership:
- Ray Cahnman, Chairman
Locations:
- Chicago
- New York
- London
- Madrid
- Mumbai
- Singapore
- Sydney
WH Trading
Strategy: W.H. Trading is involved in derivatives trading and market-making
Description: W.H. Trading LLC is a proprietary trading company that offers traditional open-outcry trading even today alongside the electronics trading of futures, options, and equity securities. It is a derivatives trading firm that provides liquidity to the futures and options markets worldwide.
Leadership:
- Will Hobert, Managing Member
Location:
- Chicago
Wolverine Trading
Strategy: Wolverine is into core Prop trading, market-making, and asset management. It uses Valuation Arbitrage as one of its strategies.
Description: Wolverine Trading is an independent broker-dealer specializing in trading equities, options, and futures for institutional investors. The firm offers its clients an algorithmic trading platform, direct floor access, and an agency brokerage desk. Wolverine trades in ETFs, ETF options, cash, and bonds.
Leadership:
- Robert Bellick, Partner
Location:
- Chicago
X.R. Trading
Strategy: X.R. Trading is a prop trading firm that is primarily in Market-Making
Description: X.R. Trading is a market-making firm that offers liquidity for various financial instruments and asset classes such as equities, indices, foreign exchange, energy, metals, treasuries, and agricultural products. X.R. Trading operates with nine trading teams which are cross-functional teams comprising traders, software developers, and quants. These teams utilize technology to solve problems and develop new trading strategies.
Leadership:
- Matthew Haraburda, President
Best New York City Prop Trading Firms
Avatar Securities
Strategy: Avatar Securities offers direct market access with intelligent order routing capabilities to exchanges and various dark pools. Avatar Securities also provides the complete infrastructure for discretionary trading and gray-box and black-box trading systems.
Description: Avatar Securities is a subsidiary of the Avatar Trading Group, LLC and a broker-dealer prop-only firm registered at the CBOE, the CBSX, and Nasdaq OMX PHLX. The firm specializes in U.S. equities, ETFs, ETNs, and U.S. equity options. Avatar focuses on the funding and platform requirements of experienced traders.
Leadership:
- Omar Kathwari, Managing Member
Locations:
- New York
- Chicago
BlueFin Trading
Strategy: BlueFin Trading is involved in market making and trading in exchange-traded derivative products.
Description: Bluefin Trading Capital Management, a prop-trading firm, was formed in 2001 to give an innovative and quantitative modeling platform. It uses advanced technology to identify lucrative trading opportunities in Equities, ETFs, Options/Futures, Commodities, Fixed Income, and Foreign Exchange.
Leadership:
- Michael Goodwin, Managing Partner
Location:
- New York
- Chicago
- London
- Hong Kong
First New York
Strategy: First New York trades with its own money and adopts multiple strategies.
Description: First New York Securities (FNYS) is a globally recognized multi-asset trading firm founded in 1986. The firm implements strategies in equities, futures, derivatives, currencies, fixed income, and commodities across global markets. Since its inception in 1986, FNYS has provided portfolio managers and traders with infrastructure and capital to deploy their strategies.
Leadership:
- Donald Motschwiller, CEO
Flow Traders
Strategy: Flow Trader is a market-maker specializing in Exchange Traded Products (ETPs).
Description: Flow Traders is a global proprietary firm established in 2004 with trading desks across Europe, the Americas, and Asia. The company uses its principal technology platform to quote the bid/ask spread in several ETP listings. So far, Flow Traders have quoted over 7900 ETPs globally. Flow Traders strive to integrate market expertise, cutting-edge technology, and risk management to offer competitive pricing.
Leadership:
- Dennis Dijkstra, CEO
Locations:
- New York
- Singapore
- Hong Kong
Hold Brothers
Location: New York
Strategy: Hold Brothers focuses on core Proprietary Trading.
Description: Hold Brothers Capital is a leading direct access trading firm specializing in domestic equities trading. It is a broker-dealer prop shop and a member of the FINRA and SIPC. Hold Brothers offers the latest technology to traders and high-speed direct access to the equity markets through its proprietary software and API connectivity.
Leadership:
- Gregory Hold, Owner & CEO
Hudson River Trading
Strategy: Hudson River Trading is a liquidity provider. The firm offers a scientific approach to trading financial products. Hudson River has a sophisticated computing environment for research and development.
Description: Hudson River Trading (HRT), founded in 2002, is a multi-asset class quantitative trading firm. It is a leading innovation in the world of algorithmic trading. Hudson River is more of a high-frequency trading (HFT) firm. The firm has a strong team of quant traders, developers, software engineers, and mathematicians to develop and improve its proprietary trading strategies.
Leadership:
- Jason Carroll, Partner
- Prashant Lal, Partner
- Oaz Nir, Partner
Locations:
- New York
- Chicago
- London
- Shanghai
- Singapore
- Austin
- Dublin
Integra Capital
Strategy: Integra Capital offers a blend of prop trading and retail trading. The firm also supports automated trading strategies. Integra supports algorithmic and HFT strategies for trading.
Description: Integra Capital is a division of the T3 Trading Group. The firm offers the option of Prop trading as well as retail trading. Integra offers its traders professional trading platforms, capital, mentorship, and support. The firm also supports remote traders from all over the country. Integra offers its prop traders firm capital leverage of at least 30x their deposit for day trading and 6x their deposit for swing trading.
Leadership:
- Zack Nadel, CEO
Locations:
- New York
Jane Street
Strategy: Jane Street Trading is predominantly into market-making and providing liquidity.
Description: Jane Street is a global proprietary trading firm with over 1,200 employees. The company has been one of the largest market-makers globally for the past two decades. Jane Street trades securities worth more than $17 trillion in 2020. The assets include ETFs, Equities, Futures, Commodities, Options, Bonds, and Currencies.
Jane Street is a quantitative trading firm with a particular focus on technology. Jane Street trades an average of $21 billion in global equities, bonds, and ETFs daily.
Leadership:
- Drew Krichman, Managing Director
Locations:
- New York
- Chicago
- London
- Tokyo
Old Mission Capital
Strategy: Proprietary Trading firm specializing in market-making for hard-to-trade ETFs.
Description: Old Mission Capital is a global quantitative market-making platform launched in 2008. The company’s market-making platform empowers it to work with the most prominent institutions and across a wide range of securities, incredibly illiquid ETFs. However, it also trades equities, mutual funds, and securities and offers advisory services.
Leadership:
- Joe Guzowski, CEO
Locations:
- New York
- Chicago
- London
Schonfeld Group
Strategy: Primarily on short to intermediate-term and fully automated global trading strategies. The firm also aims for diversity in statistical and index arbitrage portfolios. Tactical trading is a critical part of its strategies to create orthogonal and uncorrelated returns.
Description: Schonfeld Strategic Advisors is a multi-manager trading platform with exposure across the Americas, Europe, and Asia. Schonfeld employs a comprehensive set of long volatility investment models for broadening the portfolio and improving returns. The firm’s investment Models include equity capital markets, event-driven, index rebalancing, and short-term trading.
Leadership:
- Ryan Tolkin, CEO
- Andrew Fishman, President
Seven Points Capital
Strategy: Seven Points Capital is involved in Proprietary trading and market-making.
Description: Seven Points Capital is a Broker-Dealer prop firm that applies multiple strategies. The firm does not charge any education fees from the trader. They also do not bring in any capital. Seven Points Capital is based in New York City with additional offices in California, Florida, New Jersey, and Toronto. Seven Points Capital offers a comprehensive suite of trading applications,
Leadership:
- Michael Katz, Manager
Locations:
- New York
- San Diego
- Fort Lauderdale
- Toronto
SMB Capital
Strategy: SMB Capital focuses on traditional discretionary trading.
Description: SMB Capital is a proprietary trading desk founded in 2005, operating with diverse trading styles. The firm provides capital, training, and mentoring for aspiring traders. The firm is primarily focused on equities, options, and futures.
Leadership:
- Mike Bellafiore, Co-Founder
- Steven Spencer, Co-Founder
Locations:
- New York
T3 Trading Group
Strategy: T3 Trading Group, LLC’s proprietary traders focus mainly on technical analysis to develop their trading strategies. The firm leverages low latency technology and order routing alongside a competitive cost structure. For Hedging Strategies and Speculation, T3 trading allows Multiple Legs and Spread Trading.
Description: Launched in 2010, T3 Trading is a prop trading firm that utilizes multiple time-frames and applies swing and intraday trading styles to generate maximum returns based on market cycles. The firm participates in algorithmic trading and has its presence across numerous asset classes like equities, options, and futures. At present, T3 Trading Group has a base of over 400 proprietary traders.
Leadership:
- Sean Hendelman, Co-Founder & CEO
- Marc Sperling, Co-Founder & Managing Partner
Locations:
- New York
- Millburn
- Matawan
Tower Research Capital
Strategy: Tower Research Capital develops technology and deploys its diverse automated and quantitative methods globally across a broad range of asset classes.
Description: Tower Research Capital, founded in 1998, is a financial services firm located in New York. The firm primarily deals in quantitative trading and investment strategies.
Tower’s independent trading team structure allows for innovation and healthy internal competition while still collaborating across Tower globally to strengthen our firm and evolve along with the marketplace. Tower does this while treating one another with respect, one of our underlying Tower core values.
Leadership:
- Mark Gorton, Chairman
Locations:
- New York
- Chicago
- Charleston
- Montreal
- London
- Amsterdam
- Gurgaon
- Gift City
- Gurgaon
- Hong Kong
- Shanghai
Trillium Trading
Strategy: Trillium Trading participates in directional or core proprietary trading
Description: Trillium is a premier trading and technology firm established in 2003. Besides proprietary trading, the diversified financial firm also has its technology development group, Trillium Labs, which developed Surveyor, a post-trade surveillance tool for identifying and eliminating market manipulation. Trillium has over 100 experienced traders employed in its New York, Chicago, and Miami offices.
Leadership:
- Lee Maschler, Founder
- Barry Schwarz, CEO
Locations:
- New York
- Chicago
- Maimi
Virtu Financial
Strategy: Virtu Financial is primarily involved in market-making and infusing liquidity
Description: Virtu is a global name in prop trading. The firm leverages advanced technology to deliver liquidity to the international markets and innovative and transparent trading solutions.
Besides trade execution, Virtu provides an entire range of products such as equities, commodities, currencies, options, fixed income, and other securities on over 200 exchanges and dark pools, liquidity sourcing, analytics, multi-dealer platforms, and dual-sided quotations.
Leadership:
Locations:
- U.S.: New York, Austin, Boston, Chicago, Short Hills
- APAC: Hong Kong, Singapore, Sidney
- CA: Toronto
- EMEA: Dublin, London, Madrid, Paris
Other Locations
Bright Trading
Strategy: Bright Trading allows its traders to leverage various strategies like Pairs, Baskets, Hedged Swing Trading, and Macro
Description: Bright Trading is a small prop trading firm. It is a broker-dealer member of the NYSE Chicago. Since 1992, the firm provides capital, training, and professional tools like REDIplus or Real Tick to its traders to execute trades. Traders can execute manually, use Algorithms, run via FIX, or bring their methods and strategies to utilize various APIs.
Leadership:
- Bob Bright, CEO
Locations:
- Las Vegas
Fidelcrest
Strategy: Fidelcrest sources its strategies from profitable retail traders.
Description: Fidelcrest actively searches for traders with excellent risk management skills and solid profitable trading strategies. Traders need to complete the Challenge Verification and profit targets to join the firm.
Leadership:
- Jussi Hallikas , COO
Locations:
- Cyprus
FTMO
Strategy: FTMO sources its strategies from experienced retail traders.
Description: FTMO supports experienced traders looking to generate additional returns. Traders need to complete a 2-step evaluation and training consisting of the FTMO Challenge and Verification. Upon successful completion, traders are offered a placement in the FTMO Proprietary Trading firm.
Leadership:
- Otakar Šuffner , CEO
Locations:
- Prague
Kershner Trading Group
Strategy: Kershner Trading Group is primarily involved in Prop Trading with a Bionic Edge
Description: Kershner Trading Group is a prop firm that offers capital, trading platforms, and the necessary infrastructure to manual and algorithmic traders. Gr8trade, the firm’s proprietary trade implementation and analysis platform empower traders to automate their trading procedures and execute them.
Leadership:
- Andy Kershner, CEO
Locations:
- Austin
- New York
Susquehanna International Group
Strategy: Susquehanna is primarily a market maker. The firm is a leading liquidity provider and globally uses sophisticated electronic trading techniques.
Description: Susquehanna International Group is a global quantitative trading firm specializing in proprietary trading of equities, fixed income, commodity, energy, index, and derivative products.
The firm also has a presence in the private equity and venture capital customer trading space. Susquehanna is one of the best-known names for equity options pricing and trading.
Leadership:
- Jeff Yass, Founder
Locations:
- U.S.: Philadelphia, New York, Chicago, Samford, San Francisco, Boca Raton
- EMEA: Dublin, London
- APAC: Sidney, Bejing, Hong Kong, Shanghai, Tokyo
The Bottom Line
A reputed and credible prop firm is a significant factor in the trader’s success or failure. Proper mentorship can also help a trader achieve profitability even in adverse market conditions and avoid black swan events that can wipe out a trader’s entire portfolio.
