Traditional prop trading firms often hire licensed, professional traders on a fixed contract. However, in the last decade, a new sort of prop trading arose that allows almost anybody to enter and profit from the industry: Modern Prop Firms.

Modern Prop Trading firms are looking for traders who, after passing a particular evaluation process, can have access to a so-called funded account, from which they can take their winnings.

The primary advantage of Modern Prop businesses is that almost anybody can trade with them (no license or prior track record is required), and clients can trade without risking their own funds. As with retail CFD brokers, the asset classes available are typically diverse. Clients can trade a variety of assets, including forex, indices, commodities, stocks, metals, and cryptocurrencies.

Modern Prop Trading organizations often include an evaluation step in which the client must demonstrate their trading abilities by meeting specific criteria established by the company. There is normally a cost that the client must pay to enter the assessment; however, this is frequently repaid later with the first reward. Based on the results, the client can then access a demo account and withdraw his profits (the businesses often retain 30-20% of the client’s profits).