--- title: "Industry, legal and operations - Glossary - Get Funded Now" description: "18 prop trading terms defined, with GFN's own figure where one applies. How proprietary trading firms work, what simulated funding means, and the…" url: "https://getfundednow.com/glossary/category/industry" language: "en" last_modified: "2026-09-22" publisher: "Get Funded Now (getfundednow.com)" translations: es: "https://getfundednow.com/es/glossary/category/industry" pt-BR: "https://getfundednow.com/pt-br/glossary/category/industry" fr: "https://getfundednow.com/fr/glossary/category/industry" it: "https://getfundednow.com/it/glossary/category/industry" de: "https://getfundednow.com/de/glossary/category/industry" disclosure: "All trading at Get Funded Now is simulated. 'Funded' means a simulated or virtual account; GFN is not a broker and does not hold client funds." --- Glossary category # Industry, legal and operations 18 industry, legal and operations terms, defined and then priced against GFN's published rules. Every entry states GFN's own figure for the term, with the programme it applies to. How proprietary trading firms work, what simulated funding means, and the compliance terms attached to a payout. [All 176 terms](https://getfundednow.com/glossary) · [Rules handbook](https://getfundednow.com/rules) 18 terms ## Every term in this category Every entry states GFN's own figure for the term, with the programme it applies to. - [A-book](https://getfundednow.com/glossary/a-book) - A brokerage model where client orders are passed through to external liquidity providers rather than held internally. The broker earns from spread and commission and takes no position against the client, so its revenue follows volume. - [Account sharing](https://getfundednow.com/glossary/account-sharing) - Letting someone else trade your account, or trading an account belonging to someone else. It defeats the purpose of an assessment of an individual, and it is prohibited everywhere in the industry without exception. - [Affiliate programme](https://getfundednow.com/glossary/affiliate-programme) - An arrangement paying commission on sales referred through a tracked link. It is how most prop firms acquire customers, and it explains a large share of the reviews published about them. - [AML](https://getfundednow.com/glossary/aml) - The controls a firm operates to prevent its services being used to move criminal proceeds. In practice it means identity checks, monitoring for unusual patterns, and refusing payments that cannot be explained. - [B-book](https://getfundednow.com/glossary/b-book) - A brokerage model where client orders are held internally rather than passed to a market, so the broker takes the other side of them. Client losses become broker revenue, which is the structural objection to it. - [Broker](https://getfundednow.com/glossary/broker) - A firm that executes trades on a client's behalf and holds client funds to do so. It is a different business from a prop firm, with different obligations and a different relationship to the client. - [Dispute resolution](https://getfundednow.com/glossary/dispute-resolution) - The process for settling a disagreement about a breach, a payout or an account decision. It starts with the firm's support channel and is governed by the terms the account was bought under. - [Funded trader agreement](https://getfundednow.com/glossary/funded-trader-agreement) - The contract governing a simulated funded account: what the trader may do, how performance is measured, how payouts are calculated and on what grounds the arrangement can end. - [KYC](https://getfundednow.com/glossary/kyc) - The process of confirming who owns an account, using identity documents and supporting information. It is required before money moves, and it is the most common cause of a delayed first payout. - [Liquidity provider](https://getfundednow.com/glossary/liquidity-provider) - An institution that streams tradeable prices to brokers and venues - typically a bank or a specialist trading firm. Their aggregated quotes are what a retail price is ultimately built from. - [Market maker](https://getfundednow.com/glossary/market-maker) - A participant that quotes both a bid and an ask continuously, profiting from the spread between them and carrying inventory risk in return. Market makers are what make an instrument tradeable in size at a predictable cost. - [Prohibited trading](https://getfundednow.com/glossary/prohibited-trading) - Activity a firm bans because it targets the trading environment rather than the market. It covers exploiting errors and pricing delays, coordinated trading between accounts, and third-party account management. - [Prop firm](https://getfundednow.com/glossary/prop-firm) - A company that assesses traders and pays them a share of the results they produce, rather than a broker that executes orders for clients. Most modern retail firms run the assessment on simulated accounts. - [Proprietary trading](https://getfundednow.com/glossary/proprietary-trading) - Trading a firm's own capital rather than client money. The traditional form employed traders in-house; the retail form assesses traders remotely and pays them a share of the results they produce. - [Restricted jurisdiction](https://getfundednow.com/glossary/restricted-jurisdiction) - A country a firm will not serve, for legal, regulatory, sanctions or payment-provider reasons. Restrictions can change, and they apply to where a trader actually is rather than what an address says. - [Sanctions screening](https://getfundednow.com/glossary/sanctions-screening) - Checking customers and payments against sanctions lists before money moves. It is a legal obligation on the payments provider as much as on the firm, and it is not discretionary. - [Simulated funding](https://getfundednow.com/glossary/simulated-funding) - The model where a firm assesses and pays traders on simulated accounts rather than routing their orders to a market. Trading is simulated; payouts against qualifying performance are real money. - [Terms of service](https://getfundednow.com/glossary/terms-of-service) - The contract between a trader and a firm, covering purchases, account rules, payouts and termination. It governs everything the marketing pages summarise, and where a page and the terms disagree, the terms are what applies. The other categories [Drawdown and risk limits20](https://getfundednow.com/glossary/category/drawdown) · [Evaluations and accounts26](https://getfundednow.com/glossary/category/evaluations) · [Payouts and money19](https://getfundednow.com/glossary/category/payouts) · [Trading mechanics28](https://getfundednow.com/glossary/category/mechanics) · [Strategy and performance23](https://getfundednow.com/glossary/category/strategy) · [Tooling and execution10](https://getfundednow.com/glossary/category/tooling) · [Instruments and markets18](https://getfundednow.com/glossary/category/instruments) · [Sessions and events14](https://getfundednow.com/glossary/category/sessions) · [Industry, legal and operations18](https://getfundednow.com/glossary/category/industry) Ready when you are ## Your capital stays yours. The risk is ours. One evaluation fee, no time limits and up to 90% of simulated profits. Pick an account size and your credentials arrive by email within minutes. [Start your challenge →](https://getfundednow.com/challenges) · [Read the rules](https://getfundednow.com/faq) No subscriptions or hidden fees Payouts every 14 days $400,000 max total allocation --- Source: https://getfundednow.com/glossary/category/industry Facts about Get Funded Now in one file: https://getfundednow.com/llms.txt