Traders now have the opportunity to access capital from $5,000 to $100,000 while retaining 80% of their profits.
Proprietary trading is on the rise as brokers such as OANDA, Axi, and Hantec Markets continue to expand into this space.
New Prop Trading Program by Alexander Gerchik’s Gerchik & Co
Alexander Gerchik, a seasoned Wall Street trader, has launched a new proprietary trading program through his brokerage firm, Gerchik & Co. This program enables traders to trade with company funds, offering up to $100,000 in capital, allowing participants to trade without putting their own money at risk.
The program offers access to funding between $5,000 and $100,000, with traders keeping 80% of the profits they generate. To qualify, aspiring traders must complete a demo account challenge that evaluates their risk management and trading growth capabilities before being granted access to live capital.
The Two-Stage Challenge
The journey to becoming a prop trader involves completing a two-stage challenge. This process is designed to test a trader’s ability to grow demo account capital while managing risk and avoiding major losses.
Traders have up to one year to pass both stages, though the challenge can be completed in as little as a week. The entry fee is $69, and participants are allowed to take on up to three challenges at once. Successful candidates will have the opportunity to manage up to $100,000 in company funds.
Unlimited Challenge Attempts
Gerchik & Co’s program is unique in that it offers traders an unlimited number of attempts to pass the challenge. If a participant doesn’t succeed the first time, they can try again until they qualify for the program. This gives traders ample opportunity to hone their skills and progress without risking personal funds.
Growing Trend in Prop Trading
Prop trading is gaining momentum across the financial sector, with brokers such as OANDA recently introducing a similar program in South Africa. Through their initiative, traders can become signal providers and earn up to 90% of profits in a profit-sharing model, according to Finance Magnates. Other brokers, including Axi and Hantec Markets, are also making strides in this area, often through offshore-regulated entities.
Despite the growing interest in prop trading, it remains a competitive space. A recent survey by PipFarm found that while interest is high, only around 40% of traders report significant financial success in this increasingly popular but demanding field.
This new initiative by Gerchik & Co provides a promising avenue for traders looking to advance their careers and increase their earnings without risking their own capital.
