A new prop trading firm, Upside Funding, has just entered the market. While it offers trading in a simulated environment like others, two things set it apart. First, after completing the evaluation process, you can become a trader with a real annual salary. Second, the project is backed by Charles Finkelstein, who worked at Citi's trading desk for 30 years, from offices in Hong Kong, Australia, and London.

Former Citi Managing Director Launches His Own Prop Firm

This month, Finkelstein, who was associated with investment bank Citi from 1990 to 2023, established his own prop firm offering up to 90% profit split, cTrader platform, and support from regulated broker Purple Trading.

"After decades in institutional trading, we realized the biggest gap in proprietary trading wasn't just capital—it was guidance," said Finkelstein. "Most firms hand traders money and leave them to figure it out on their own. We do things differently."

According to the company's promotional materials, clients can expect one-to-one mentorships with the CEO, who shares knowledge and experience gained during his years working for Citi. For more than half that time, he served as Country Treasurer at Citi Australia and Head of G10 Risk Treasury for the APAC region.

"We mentor traders, help them scale their capital, and even provide a path to a full-time salaried role," he added.

From Demo to Working for a Prop Trading Firm

The brand is managed by Upside Funding Limited, registered in Hong Kong. The company acknowledges that it doesn't provide brokerage services, doesn't accept client deposits, and doesn't trade real assets on behalf of traders.

"All trading activities conducted through our platform during the evaluation phase take place in a simulated trading environment," states the website. "The funds allocated in these evaluations are entirely virtual, hold no real monetary value, and cannot be withdrawn or converted into real assets."

The fact that trading during challenges, starting at $49, takes place in a demo environment isn't new in prop trading industry. What might distinguish this firm's offer from dozens of others is that it offers employment to its most profitable clients.

If you reach the maximum funded-account level, you can potentially qualify for a full-time position at Upside Funding Limited with a salary of up to $350,000.

For now, the offer looks interesting, mainly due to the support from trading industry veterans and the possibility of gaining employment as a prop trader. However, time will tell whether the firm can maintain its position in an increasingly competitive and challenging market. Especially since last year, between 80 to even 100 prop firms disappeared from the market.