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Category: Prop Firms

Prop Firms

Avatar Securities review: the $70,000 censure over risk controls

Avatar Securities is a FINRA-registered US proprietary equities desk with $104.4m of net capital and no challenge fee. Its homepage sells multi-layer risk controls; a 2013 CBOE settlement censured it and fined it $70,000 over, among other things, risk management tools that were not functioning properly.

September 2, 2026

Prop Firms

EverFunded review: the contract says there is no profit to split

EverFunded's homepage sells a 90% profit split and a "Reward Guarantee". Clause 8.5 of its terms says a Reward is not a share of real trading profits — "there are none" — and clause 8.1 guarantees nothing. An independent review of a 2026-registered Saint Lucia simulator business with no payout

September 2, 2026

Prop Firms

Plutus Trade Base review: €39 on the page, €99 in the terms

Plutus Trade Base advertises €39 challenges and “trade our capital”. Its own terms price the same account at €99, call every account simulated, and say the terms prevail.

September 2, 2026

Prop Firms

Axia Investing review: a prop desk registered as a school

Axia Investing markets itself as Brazil's most innovative proprietary desk. Receita Federal has it registered as an education company, CNAE 8599-6/99, with R$10,000 of capital - and its own contract calls the funded account a paid demo.

September 2, 2026

Prop Firms

T3 Trading Group review: two pages disagree on the Series 57

T3 Trading Group is an SEC-registered broker-dealer with $27.19m of audited net capital - but its homepage and its own recruitment landing page state opposite things about whether the Series 57 licence is required, and it publishes no profit split, desk fee or capital contribution anywhere.

September 1, 2026

Prop Firms

Chimera Securities review: a $36,000 salary, not a challenge fee

Chimera Securities is an SEC-registered NYC broker-dealer that pays entry-level traders a $36,000 base salary and demands the Series 57 before day one — but publishes no profit split, fee or capital contribution anywhere.

September 1, 2026

Prop Firms

Bright Trading review: the SIPC exclusion it puts in writing

Bright Trading is a FINRA-member broker-dealer where traders join as Class B members and post their own deposit. Its own risk disclosure says they are not customers and SIPC does not cover them. No fee, split or deposit figure is published anywhere.

September 1, 2026

Prop Firms

Great Point Capital review: whose money is in the funded account

Great Point Capital is an SEC-registered broker-dealer with 13 regulatory disclosures, including a $2m SEC recordkeeping order it admitted. Its funded-trader page publishes no fee, target or drawdown rule.

August 31, 2026

Prop Firms

Hyperticks review: the terms name two models, it sells four

Hyperticks sells four futures programmes. Its governing Terms define two, and neither the 5% target nor the 35% consistency score nor the 90% split appears in the contract at all.

August 31, 2026

Prop Firms

Phoenix Trader Funding review: registered for computer programming

Phoenix Trader Funding sells US futures funded accounts, but the entity in its own Terms is a Paris SAS registered for computer programming, with one officer and no declared employees. An independent look at the counterparty, the payout ceiling and the rules.