do you actually know which broker your prop firm routes to behind the scenes
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most prop firms run their platforms on top of a real broker or liquidity provider, but they rarely say who. it matters because the spreads, slippage and execution you get on a challenge are really the underlying brokers, not the props branding.
has anyone actually figured out who their prop firm uses underneath, and did it explain weird fills you were seeing?
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you can sometimes infer it from the server name in the platform, the symbol suffixes, or the spread behaviour matching a known broker. but many props sit on a white-label or their own simulated feed during the challenge phase, so the execution you see in evaluation isnt even a live market, its their model. that gap between challenge feed and funded feed explains a lot of the weird fills people report.
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this is the key thing newer prop traders miss. the evaluation is often on a simulated or heavily managed feed, so your challenge spreads and slippage may not match what funded traders get, let alone a real broker. judge a prop on funded-stage execution reports, not the demo-like challenge environment.
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partly fair but not fully. ive seen a prop whose challenge feed had visibly worse slippage on news than any real broker id used, which absolutely affected stop-based strategies, not excuses. the discipline is to separate 'the feed is genuinely poor' from 'i lost and want a culprit'. both exist and only execution data tells them apart.
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how would i even pull execution data to compare, is that something the prop platform gives you or do i log it myself?
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log it yourself: for each trade record intended entry, actual fill, intended stop and where it actually closed. after 30-50 trades you can see your average slippage in points. compare that to the same strategy on a demo at a known broker. if the props slippage is consistently worse on identical setups, thats real signal, not a feeling.
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keeping your own fill log also protects you in disputes. if a prop ever questions your trading or you want to challenge a rule application, having your own clean record of intended versus actual prices is far stronger than arguing from memory. log everything from day one.
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the simulated challenge feed thing just clicked for me
i kept blaming myself for slippage that real brokers never gave me. logging from now on. -
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