Prop Trading Solution (2024)

Prop Trading Solution (1)Brokers API

The Broker API is a versatile API platform designed for external clients, enabling streamlined management and interaction with various services through a single access point. This API supports REST and gRPC protocols, providing flexibility in integration and ensuring compatibility with diverse client systems. It facilitates secure, efficient administrative operations and service management, making it an essential tool for clients looking to optimize their operational workflows.In our system, each broker has a unique partnerID assigned. Every operation via this API is performed within that particular partnerID. 
Since we encode your partnerID in your Authorization token, you don’t have to consider this parameter when sending requests but you will see this parameter across multiple different endpoints.

Authentication: Secure access through token-based authorization, ensuring that only authenticated users can interact with the API.

gRPC: A high-performance, open-source universal RPC framework, is utilized to provide real-time data streaming and efficient communication between clients and servers. This section outlines the gRPC services offered by the Broker API, focusing on positions, ledgers, and quotations within a financial or trading context.

Branches, Offers, Roles: provides insights into the structural components of account management, specifically focusing on the organizational, operational, and permission-based classifications within a broker’s framework. It facilitates the retrieval of information regarding Branches (organizational divisions), Offers (account types with specific trading conditions), and Roles (user permissions and responsibilities), essential for streamlined account administration and customization.

Accounts: category offers comprehensive tools for managing user accounts on the trading platform. It includes functionalities for fetching detailed information about accounts, creating new accounts, updating existing account details, and changing account passwords. This suite of APIs allows for efficient oversight and customization of user accounts, ensuring that account management is both secure and tailored to meet specific administrative needs.

Accounts / Trading Accounts: category provides a robust set of functionalities for managing trading accounts within the system. It encompasses features for retrieving detailed information about trading accounts, including financial metrics and account metadata, as well as capabilities for creating new trading accounts. This suite of APIs is instrumental in facilitating efficient trading account management, enabling users to access, monitor, and set up trading accounts with ease, thereby enhancing the overall trading experience and operational efficiency.

Payments: category is designed to streamline the management and tracking of payment transactions within the system. It offers comprehensive functionalities for accessing detailed information on payments, managing deposits and withdrawals, and handling manual transactions and credit adjustments. This suite of APIs is crucial for ensuring efficient financial operations, providing users with the tools needed to manage payment gateways, track transaction statuses, and execute financial transactions with precision and ease.

Trading: category provides essential tools for order management and trading activity monitoring. It enables users to efficiently manage trading operations, from opening and editing positions to closing them, ensuring a comprehensive and streamlined trading experience.

Trading /Trading Data: category provides comprehensive access to both real-time and historical trading data, enabling users to analyze market trends, track trading account activities, and make informed decisions. It covers a wide range of data points including open and closed positions, active orders, and ledger entries, offering a detailed overview of trading dynamics and financial transactions within the system. This functionality is crucial for effective trading strategy development and portfolio management.

Trading /Trading Data/Candles: offers detailed historical price data through candlestick charts for specific symbols and time intervals, providing key insights into market trends. This feature is essential for technical analysis, allowing users to access open, high, low, and close prices within chosen periods, thereby supporting informed trading and investment decisions.

  • Unified trading and account management: Seamlessly manage trading accounts, user accounts, and financial transactions through a single API, enabling efficient oversight and customization of trading operations and account settings.
  • Market operations and trading execution: Execute trades with precision and manage trading activities efficiently. Open, edit, and close positions directly through the API, leveraging comprehensive trading tools for informed decision-making.
  • Comprehensive financial transaction handling: Manage deposits, withdrawals, and manual financial adjustments with ease. The API provides detailed insights into payment transactions, supporting efficient financial operations and tracking.
  • Advanced data analysis and reporting: Utilize extensive trading data, including open and closed positions, active orders, and ledger entries, for in-depth analysis and dynamic reporting. Make informed decisions based on real-time and historical data.
  • Flexible integration with REST and gRPC protocols: Designed for easy integration, the API supports both REST and gRPC protocols, ensuring compatibility with diverse client systems and facilitating efficient data streaming and communication.
  • Enhanced security with token-based authorization: Secure API access through token-based authorization, ensuring that operations are performed securely and only by authenticated users, thus protecting sensitive information and maintaining client trust.
  • Customizable trading experience: Tailor trading conditions and account settings with customizable branches, offers, and roles. The API allows for detailed configuration to meet specific trading needs and preferences.
  • Efficient risk management tools: Leverage the API’s detailed market and trading data to enhance risk management strategies. Monitor trading activities and market trends to mitigate risks effectively.
Prop Trading Solution (2024)

FAQs

Is it possible to pass the prop firm challenge? ›

With the Prop Firm challenges, it's not just about failing or winning. You must be profitable and fulfill certain trading objectives which makes it even harder. Less than 1% of traders who attempt the challenge pass and get funded. It's best to invest in a few challenges.

How many people pass prop challenges? ›

According to it, 4% of traders, on average, pass prop firm challenges. But only 1% of traders kept their funded accounts for a reasonable amount of time. While this result is not nearly as bad as the one discussed earlier, it still looks bleak for prospective prop traders. But why is the percentage of failure so high?

How to pass prop firm evaluation? ›

By perfecting your trading plan, practicing consistently, mastering risk management, developing emotional discipline, keeping detailed records, and learning from your mistakes, you can significantly enhance your chances of success in these assessments.

How to pass 5k prop firm challenge? ›

Challenge Assessment

To pass the FTP $5,000 account evaluation you need to make a minimum profit of $250 within 14 days while not exceeding a 20% max loss limit if trading forex pairs or 10% loss limit if trading other markets. If successful, traders keep 85% of all subsequent profits made.

How to pass prop firm fast? ›

Follow Your Strategy 100%

One of the most crucial aspects of passing a prop firm challenge is having a well-defined trading strategy. A trading strategy is a set of rules that guide your decision-making process in the market. It includes entry and exit criteria, risk management rules, and trade management techniques.

How to pass 10k prop firm challenge? ›

To pass this trading account challenge and secure the position of a prop-funded trader, it is crucial to have an in-depth understanding of the financial markets and the potential to make profitable trades while managing risks effectively.

What is the failure rate for FTMO? ›

According to FTMO statistics, only about 10% of traders are able to pass the funded account challenge at any account level. This means approximately 90% of aspiring funded traders fail the evaluation and are unable to gain access to the firm's capital.

Why do people fail prop firm challenges? ›

At Lux Trading Firm, our Elite Traders Club has the highest pass rate in the industry – so we know what we're talking about! The most common reasons traders fail prop firm challenges are simply overleveraging their trades, not understanding the rules, and not having a profitable trading strategy.

What is the success rate of prop trading? ›

It is estimated that only 4% of Forex traders succeed with prop firm challenges, and only 1% of traders can generate profits consistently without violating any rules.

How long does it take to pass prop firm? ›

However, it can take a long time to achieve this goal – even with the fast paced nature of prop firm trading. It typically takes around 4-5 months to become a prop firm funded trader, if you're a consistently profitable trader. Some traders can achieve this much faster by using increased risk.

What happens after passing a prop firm challenge? ›

Upon successfully passing a Prop Firm Challenge, traders may be required to fund their trading accounts with an initial amount. The firm may also have scaling plans that determine how much capital traders can access based on their performance.

Which prop firm is the cheapest? ›

Cheapest Prop Firms Forex 2024 - with $5K Funding Accounts...
  1. The5%ers. The5%ers specializes in providing funding of up to $100,000 to forex traders. ...
  2. FTMO. ...
  3. MyForexFunds. ...
  4. Earn2Trade. ...
  5. The Funded Trader Program. ...
  6. OneUp Trader. ...
  7. Apex Trader Funding. ...
  8. True Trader.
Feb 27, 2024

What prop firm has a 5K account? ›

Funded Trading Plus is a prop firm that offers traders the opportunity to trade with a funded account. They have different account types, but their most affordable option is the Basic account, which costs $99. This account comes with a virtual account ranging from $5,000 to $25,000, depending on the package you choose.

Which prop firm offers 5K account? ›

FTMO (Funded Trader Millionaire Operator) is one of the largest and best known prop firms globally. They have funded over 60,000 trader accounts and have over $70 million in trading capital. FTMO offers funded accounts from $5,000 up to $100,000.

How long should it take to pass a prop firm challenge? ›

In conclusion, it can take around 4-5 months to pass a prop firm trading challenge and become a funded trader. However, it can take much longer than that to become a profitable trader beforehand – which is a necessity.

How long does it take to pass a prop firm challenge? ›

For most funded trading accounts, it takes around four to five months to pass the screening process or prop firm trading challenge, before funding will be allocated to a trader. However, some prop firm challenges can be passed in a much shorter time, in as little as two days, though this involves using increased risk.

How to pass prop firm competition? ›

Tips on how to pass a prop firm challenge:
  1. Follow your trading strategy consistently.
  2. Start with a small challenge.
  3. Maintain proper risk management.
  4. Focus on consistency and profitability.
  5. Record and analyze your trades.
  6. Utilize the prop firm's educational resources.
  7. Stay updated with market news and analysis.
Jan 3, 2024

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