I have worked with two USA Proprietary and one Canadian proprietary trading firms. all trading the USA Stock Markets. They all had me sign a Sub Contractor agreement. The Canadian Firm founded my account but the USA Firms let me put my own capital up for risk management. My Question is can Canadian Proprietary Trading firm that trades the US markets except money for risk management? I want to set up My own Canadian Prop Firm.
I believe there are some that do but I don't know the legalities. You may want to try an industry-specific site like Elite Trader for your question. That said, you should not trust anything you read online.
Securities law, especially in the international proprietary trading business, is very complex and very gray. Consult and retain a decent securities attorney before starting up your own firm. If you can't afford a lawyer, you really should not proceed.