Bloomberg says only 4% of prop traders get paid.
But that stat doesn’t tell the real story.
I've spoken to many of the people they quote in the story.
Is Prop a scam or a real opportunity?
Author
Kathy Lien
BKTraders and Prop Traders Edge
Having graduated New York University’s Stern School of Business at the age of 18, Ms. Kathy Lien has more than 13 years of experience in the financial markets with a specific focus on currencies.
Ripple trends higher at the time of writing on Thursday, trading above $1.12. The cross-border remittance token seeks to erase a persistent downtrend that has weighed on the price since mid-May, as investors navigated geopolitical tensions in the Middle East.
Bitcoin steadies its recovery on Thursday, edging higher toward $63,000 despite incessant capital outflows. Meanwhile, altcoins, including Ethereum and Ripple, exhibit subtle rebound signs, trading above $1,650 and $1.12, respectively.
Bitcoin recovers slightly, trading above $62,500 on Thursday after three consecutive days of losses. US-listed spot ETFs recorded outflows of $213.85 million on Wednesday, indicating persistent withdrawals amid renewed US-Iran tensions.
Pi Network edges higher on Thursday after three days of consecutive losses earlier this week, extending the prevailing downtrend since late April. The scheduled unlocking of 16 million PI tokens on Thursday could add pressure to the intraday recovery.
![Is prop trading a scam? [Video]](https://editorial.fxsstatic.com/images/i/Traders-Trading_3.png)
