Gerchik & Co, an international brokerage company managed by Wall Street trader Alexander Gerchik, has introduced a new prop trading program for traders. This program allows participants to manage up to $100,000 in company funds, providing a means to trade without using personal capital.

Under the program, traders can access capital ranging from $5K to $100K. In exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term, they retain 80% of the profits they generate. To qualify, candidates first complete a demo account challenge, which assesses their ability to manage risk and grow funds before being given real capital.

The Prop Trader Challenge

To become a prop trader, candidates must pass a two-stage challenge. The challenge evaluates their trading skills, specifically their ability to grow demo capital to a target amount without significant losses.

Participants have up to one year to complete both stages of the challenge, although they can finish in one week. Entry costs $69, and candidates can take up to three challenges simultaneously. Success in the challenge can lead to managing up to $100K.

No Limits on Attempts

Gerchik & Co offers unlimited attempts for the prop trader challenge. If candidates do not succeed on their first attempt, they may re-enter as many times as needed to join the program.

This initiative provides a chance for traders to advance their experience and earnings without risking their own funds while retaining a substantial portion of their profits.

Brokers Embrace Prop Trading

OANDA has launched its Prop Trader program in South Africa, allowing traders to become signal providers and earn up to 90% of their profits on a profit-sharing basis, as reported by Finance Magnates. Prop trading is gaining traction, with other brokers like Axi and Hantec Markets also entering the field, typically through offshore regulated entities.

Proprietary trading is rising in popularity but remains challenging. A recent PipFarm poll of 459 respondents shows that while interest is high, only 40% achieve significant financial success in the competitive prop trading landscape.