Traditional vs online prop trading
Traditionally, prop trading desks were inside banks and trading houses: employees traded the firm’s capital. Since the 2010s, online prop firms opened the model to anyone with an internet connection — you pay a fee for an evaluation instead of going through job interviews.
Most online prop firms, including Axora Funded, run evaluations and funded accounts in a simulated environment and pay rewards based on that simulated performance.
How it works step by step
The path is the same at most firms:
- Choose an account size and evaluation type (1-Step, 2-Step or futures).
- Reach the profit target without breaching the daily or maximum loss.
- Complete the minimum trading days and the consistency rule.
- Verify your identity once and receive your funded account.
- Request payouts of your share of the profit whenever you are in profit.
Why traders choose prop trading
The main reason is leverage on skill, not on savings: with a few hundred dollars of fees you can trade a $100K account. Your downside is limited to the fee, while your upside depends on how consistently you trade.
The flip side: the rules are strict and most traders do not pass the first time. Treat the evaluation as a professional test and prepare with a free trial first.