Prop firms for beginners: what are you actually buying?

Proprietary trading firms sell evaluations: pass their test and you trade their capital, keeping a share of profits. The industry is new, lightly regulated and full of firms that change their rules when too many people pass.

For anyone considering it:

• which firm and what the evaluation actually costs
• the rules that made passing harder than expected
• whether anyone here has received a real payout

The prop firm guide explains the model and the risks.