Top 10 Prop Trading Firms in NYC

Prop trading firms in NYC give traders a unique opportunity to boost their trading skills using substantial capital, advanced technology, and professional support. For many traders, the transition from retail trading to prop trading is not an easy one. There are multiple challenges to overcome, like identifying the right prop firm that meets their needs and offers them access to lucrative profit-sharing opportunities. One of the most appealing options for traders today is joining a No Challenge Prop Firm, which allows you to bypass the traditional evaluation process and start trading with funded capital immediately. This guide will help you tackle this daunting task with confidence by providing valuable insights on how to identify and select the best prop trading firms in NYC, like Goat Funded Trader, that offer no-challenge options to get you funded as quickly as possible.

Goat Funded Trader is a top remote No Challenge prop firm that can help you achieve your trading goals. They provide traders with significant capital, advanced tools, professional support, and lucrative profit-sharing opportunities.

Top 10 Prop Trading Firms in NYC

1. Goat Funded Trader

Goat Funded Trader stands out as a remote proprietary trading firm that provides global access, making it an excellent choice for traders based in New York City and beyond. While not physically located in NYC, the firm operates entirely online, allowing traders from any location to participate without geographic restrictions. Goat Funded Trader offers a robust infrastructure, a variety of account sizes, and a user-friendly experience, all designed to support traders aiming to scale their careers with reliable funding and fast payouts. 

Goat Funded Trader supports three primary trading platforms to cater to diverse trader preferences, including Match Trader, TradeLocker, and MetaTrader 5. These platforms are designed to offer stability, speed, and a range of features tailored for prop trading, including real-time analytics and efficient order execution. Additionally, Goat Funded Trader offers multiple convenient payment options, including Visa, Mastercard, PayPal, Apple Pay, Google Pay, and cryptocurrencies, ensuring smooth transaction payments and fast withdrawals for traders worldwide. 

Key Features of Goat Funded Trader

• Remote prop trading with worldwide access (no geographic restrictions).
• Multiple account sizes and flexible pricing options.
• Access to 1,300+ forex pairs, 14,000 stocks, 21,000 ETFs, and 1,500+ crypto pairs.
• Custom dashboard for real-time trading stats and analytics.
• Fast and secure payouts, including "payout on demand."
• In-house proprietary technology for platform stability.
• Supportive customer service and active trader community.
• Industry-leading profit splits, up to 95% for consistent traders.
• Comprehensive scaling program for account growth.
• Easy integration with popular trading platforms.

2. 3Red Partners

3Red Partners is a prominent proprietary trading firm with a strong presence in New York City and Chicago. The firm is distinguished by its integration of advanced technology and quantitative research to develop and execute diverse trading strategies across global markets. 3Red Partners fosters a collaborative and intellectually stimulating environment where researchers and engineers have the autonomy to innovate and solve complex quantitative and technical problems. 

Key Features of 3Red Partners

• Quantitative and technology-driven trading strategies.
• Collaborative and competitive work environment.
• Sophisticated research platform and development environment.
• Offices in Chicago and New York for strategic market engagement.
• Focus on continuous innovation and optimization of trading alphas.

3. Belvedere Trading

Belvedere Trading is a leading proprietary trading firm with offices in New York City, Chicago, and Boulder. Founded in 2002, the firm has grown from its origins on the Chicago Board Options Exchange floor to become a technology-driven market maker specializing in equity index and commodity derivatives. Belvedere emphasizes a strong culture rooted in core values, including teamwork, ownership, innovation, and open communication. 

Key Features of Belvedere Trading

• Proprietary technology and risk management systems.
• Equity index and commodity derivatives market making.
• Offices in New York City, Chicago, and Boulder.
• Culture emphasizing teamwork, ownership, and innovation.
• Custom software platforms, including Avalanch, the UI Automation framework, and continuous integration pipelines.

4. Chicago Trading Company

Chicago Trading Company (CTC) is a well-established proprietary trading firm with a strong analytical and team-oriented approach, specializing in derivatives trading across multiple asset classes, including equities, interest rates, and commodities. Founded in 1995 and headquartered in Chicago, CTC has expanded its footprint with offices in London, positioning itself as a leading liquidity provider and market maker on numerous derivatives exchanges worldwide. 

Key Features of Chicago Trading Company

• Market making across equities, interest rates, and commodity derivatives.
• Proprietary technology and advanced risk management systems.
• Offices in Chicago and London.
• Trading on major exchanges including CBOE, CME Group, NYMEX, Eurex, and ISE.
• Collaborative culture integrating traders, quantitative researchers, and technologists.

5. Chimera Securities

Chimera Securities is a distinguished proprietary trading broker-dealer based in New York City, specializing in discretionary and automated trading of U.S. equities and options. Since its founding in 2000, Chimera has offered opportunities for both aspiring traders through comprehensive training programs and experienced traders seeking a platform to expand their trading businesses, with capital allocation and technology support tailored to individual performance. 

Key Features of Chimera Securities

• Proprietary trading software for equities and options.
• Discretionary and automated trading strategies.
• Capital allocation and risk management framework.
• Training programs for entry-level traders.
• Located in New York City with a focus on U.S. markets.

6. DRW

DRW is a diversified proprietary trading firm with a significant presence in New York City and globally. Founded in 1992 by Don Wilson, DRW operates with a focus on innovation and agility, trading a range of products including fixed income, equities, foreign exchange, commodities, energy, and digital assets. The firm prides itself on a culture that encourages creativity, continuous learning, and challenging conventional approaches, supported by state-of-the-art technology and rigorous risk management. 

Key Features of DRW

• Trading across multiple asset classes, including fixed income, FX, equities, commodities, energy, and digital assets.
• Proprietary technology and quantitative research integration.
• Offices in major financial hubs, including New York City and Chicago.
• Commitment to sustainability as the first carbon-neutral global trading firm.
• Entrepreneurial culture fosters innovation and continuous learning.

7. DV Trading

DV Trading is a leading proprietary trading firm with a significant presence in New York City and globally, specializing in providing liquidity across derivatives and securities markets worldwide. Founded in 2006, the firm has grown from its origins in Toronto and Chicago to include offices in New York, London, and Toronto, offering a broad range of trading strategies in futures, options, equities, fixed income, foreign exchange, and commodities. 

Key Features of DV Trading

• Proprietary trading across futures, options, equities, fixed income, FX, and commodities.
• Advanced proprietary trading software and scalable infrastructure.
• Offices in Chicago, New York, Toronto, and London.
• Strong focus on risk management and regulatory compliance.
• Diverse trading strategies, including discretionary and algorithmic approaches.

8. Hudson River Trading (HRT)

Hudson River Trading (HRT) is a leading multi-asset class quantitative trading firm headquartered in New York City. Established in 2002, HRT specializes in developing and deploying sophisticated automated trading algorithms across more than 100 global electronic markets. The firm is renowned for its cutting-edge computing environment that supports advanced research, modeling, and risk management, positioning it at the forefront of technological innovation in financial markets. 

Key Features of Hudson River Trading

• Multi-asset class quantitative trading across 100+ global markets.
• Advanced proprietary computing environment for research and risk management.
• Global offices are located in New York City, Chicago, Austin, London, and additional locations.
• Culture emphasizing collaboration, innovation, and ethical market practices.
• Development and use of automated trading algorithms leveraging mathematical techniques.

9. Group One Trading

Group One Trading is a well-established proprietary trading firm specializing in options market-making and exchange-listed derivatives. Founded in 1989 and headquartered in Chicago, the firm maintains a strong presence in New York City and other major financial hubs. Group One is recognized for its rigorous training program that develops bright, analytical traders equipped to provide competitive liquidity across a broad spectrum of securities. 

Key Features of Group One Trading

• Options market making and specialist roles on major exchanges.
• Rigorous, tailored analyst training program.
• Real-time risk management and business analytics systems.
• Physical presence on CBOE, NYSE AMEX, NYSE ARCA, and NASDAQ PHLX.
• Culture promoting accountability, collaboration, and work-life balance.

10. Gelber Group

Gelber Group is a globally recognized proprietary trading firm headquartered in Chicago with a notable office in White Plains, New York. Established in 1982, the firm operates as a privately funded entity, trading across a broad spectrum of asset classes including foreign exchange, fixed income, equities, and commodities on major exchanges worldwide. The Gelber Group is recognized for its relentless pursuit of innovative trading ideas, complemented by a strong emphasis on technological advancements.

Key Features of Gelber Group

• Trading across multiple asset classes: FX, fixed income, equities, and commodities.
• Proprietary trading strategie, including discretionary and algorithmic trading.
• Privately funded with global operations on major exchanges.
• Offices in Chicago (headquarters), White Plains (NY), and Amsterdam.
• Emphasis on technological innovation and continuous trader development.

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Key Features of Prop Trading Firms in NYC

Trading with Firm Capital, Not Client Funds

Prop trading firms in New York City operate by using their capital to trade in financial markets, rather than managing money for outside clients. This approach enables them to retain all profits generated from their trades, which distinguishes them from traditional asset management firms and hedge funds that trade on behalf of clients. 

Diverse Asset Classes and Strategies

NYC prop trading firms are active across a broad range of asset classes, including equities, options, futures, currencies, and commodities. They employ a variety of trading strategies, including high-frequency trading, algorithmic trading, statistical arbitrage, market making, and fundamental or technical analysis. This diversity provides traders with flexibility and exposure to different market conditions, enhancing their ability to capitalize on opportunities.

Access to Capital and Advanced Technology

One of the primary advantages for traders at these firms is access to substantial trading capital and advanced technology. Firms invest heavily in advanced trading platforms, low-latency networks, and proprietary analytical tools, enabling traders to execute strategies quickly and efficiently. This technological edge is crucial for success, especially in fast-moving markets like those in NYC.

Mentorship, Training, and Professional Development

Many NYC prop trading firms offer structured training programs and mentorship opportunities. These resources are designed to help traders, both newcomers and experienced professionals, develop their skills, understand risk management, and develop effective trading strategies. The competitive environment fosters continuous learning and professional growth.

Profit-Sharing and Compensation Models

Compensation structures vary widely among firms. Legitimate prop trading firms in NYC typically pay traders a base salary with benefits, in addition to a share of the profits generated. The profit split can range from 10% to 30% for employees at established firms, while some firms with less support may offer a higher percentage of profits but little or no salary. This model aligns the interests of traders and the firm, incentivizing strong performance.

Risk Management and Drawdown Limits

Risk management is a cornerstone of prop trading. Firms set strict drawdown limits to control potential losses. If a trader’s losses reach a predefined threshold, the firm intervenes and may suspend trading to protect its capital. This disciplined approach helps maintain long-term profitability and stability.

Selective Recruitment and Talent Pool

NYC’s prop trading firms attract some of the brightest minds in finance, mathematics, and computer science. Recruitment is highly competitive, with firms seeking candidates who demonstrate strong analytical skills, a deep understanding of markets, and the ability to thrive under pressure. Many firms recruit directly from top universities or hire experienced traders from other financial institutions.

Collaborative and Innovative Culture

The fast-paced, collaborative environment in NYC prop trading firms encourages innovation. Traders benefit from networking, sharing insights, and working alongside experts in quantitative research and technology. This culture drives the development of new trading strategies and keeps firms at the forefront of financial innovation. 

Regulatory Environment

While prop trading offers firms the ability to take on more risk, it is also subject to regulatory oversight. The Volcker Rule, for example, restricts large banks from engaging in proprietary trading to protect clients and the broader financial system. As a result, most independent prop trading firms operate outside the traditional banking sector.

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Get 25-30% off Today - Sign up to Get Access to Up to $800K Today

Goat Funded Trader gives you access to simulated accounts up to $800K with the most trader-friendly conditions in the industry - no minimum targets, no time limits, and triple paydays with up to 100% profit split. Join over 98,000 traders who've already collected more than $9.1 million in rewards, all backed by our 2-day payment guarantee with a $500 penalty for delays. Choose your path to funding through customizable challenges or start trading immediately with our instant funding options. Sign up to Get Access to up to $800K Today, and 25-30% off.

No Challenge Funding Options

With Goat Funded Trader, you can skip challenges altogether and start trading immediately with our instant funding options. This means you can access your funded account right after you sign up, which will allow you to test your trading skills on a simulated account with up to $800K in buying power right away. It’s the fastest way to get funded and start collecting rewards.

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