Prop firms have become quite a popular option for traders that are looking to access large amounts of capital without having to risk their own savings. What this means is that, instead of depositing thousands of dollars, traders can just pay a fee in order to complete an evaluation or a challenge, and if they pass, they can get a funded account, as well as keep a share of the profits. This seems to be a good idea for a lot of people who are looking to try their luck out in trading, but who don’t want to face huge risks.
Understand prop trading here: https://en.wikipedia.org/wiki/Proprietary_trading
Yet, the evaluation fees can quickly add up, which is why people are nowadays wondering if there is a chance for them to, well lower the costs. So, what traders want is prop firm discounts, and if you are one of them, you may be wondering if those are even a thing, and if they are, then you want to know how you can get them. Important questions, aren’t those? Well, it’s time to get your answers.
Can You Get Prop Firm Discounts?
Unsurprisingly, we are going to begin with the very basics here. To put things simply, you want to know whether prop firm discounts are a thing, and the short, and favorable, answer, is definitely yes. I suppose you like what you’re hearing, don’t you? After all, those discounts can significantly reduce your costs, and thus improve your overall profitability.
You should, however, understand them in a bit more details to really know what to expect. So, to cut right to the chase, prop firm discounts are actually price reductions and incentives that are offered on those evaluation challenges we have mentioned, as well as on account upgrades and resets. They have been designed with the idea of attracting new traders in mind, as well as to reward loyal users and boost sign-ups during promotions.
There are various types out there, from percentage discounts on challenges, to fixed amount discounts, seasonal promotions, as well as referral-based discounts and credits. The trading rules and profit slips are not changed with these discounts, though, and that is something you should absolutely keep in mind. Their role is simply to help you lower the upfront costs when accessing capital.
How to Get a Good One?
Okay, now that you have a better idea about what these are, the next thing you want to do is figure out how to actually find and get good ones. In simpler terms, you want to figure out how to get good Prop Firm Discounts for yourself and thus benefit from them. Of course, this does require you to get better informed on the types, and thus figure out what works best for you, but there are some other and more practical tips that you should keep in mind when trying to find and get good ones. Let us now turn our attention to those practical steps.
Know That Timing Matters
When you want to get a good prop firm discount, you should be aware of the fact that timing matters here. Of course, there are some offers that are permanent, but then there are those that are temporary, and that can undeniably be amazing. And, well, just like with anything else, there are some periods during the year in which these discounts are most likely to be offered, including major holidays, company anniversaries, market downturns, end-of-quarter promotions and similar. Your task here is, therefore, to be on alert and patient, and to regularly check for these, in order to ultimately snatch the best bonus.
Follow Prop Firms on Social Media
How can you be on alert and regularly check for these, though? Well, you can definitely visit the company websites regularly in order to check if there is anything new. But, let’s be honest here. You spend far more time scrolling Instagram, Facebook, or other social media networks, than you do checking those websites. Why not use that to your advantage, then?
To put it simply, what you should do here is, well, follow prop firms on social media, so that you never miss a discount opportunity. This way, you are much more likely to stay in the loop. Of course, this doesn’t eliminate the need of checking those official websites, but it does significantly increase your chances of, well, not missing some amazing discounts, because you’ll be following for updates on multiple channels. Click this to better understand prop trading in general.
Make Use of Dedicated Websites That Help You Uncover Prop Firm Discounts
Now, this is perhaps the most important tip that I have to share here. Basically, to easily find some amazing prop firm discounts, you should make use of websites that have been designed precisely with the purpose of helping you do so. I am talking about websites that have been created with this in mind, and that are, therefore, always on alert, looking for and finding some great discounts for you, so that you don’t have to spend too much time trying to do it yourself.
The idea is for you to find trusted websites that uncover prop firm discounts and to, of course, check them regularly. Take your time to check out more of those, and if you find one that you believe is best, always offering a large amount of options and never missing out on any, then don’t forget to bookmark it. That way, you will always be in the loop.
Compare the Rules, Not Simply the Prices
Finally, there is another thing that you should be aware of when it comes to choosing and getting prop firm discounts. Basically, you should not look solely at the prices and be done with it, assuming that an offer is amazing based off of that. Instead, you should also look at the rules that are attached to the discount offers, because those can certainly vary, and they have a huge impact on how great the offer will actually be for you.
