Market structure
Side-by-side definitions so “trading” search traffic is not dumped onto a research publisher as if it were a broker or funded-account vendor.
Request CoverageProp trading risks capital to make a trading profit. Equity research analyzes public companies from filings and other identified sources. One is a book of trades. The other is a research object.
Some organizations do both under separate licenses and walls. Belvedere does not. Mixing them without disclosure is a conflict, not a feature.
Prop trading risks capital to make a trading profit. Equity research analyzes public companies from filings and other identified sources. One is a book of trades. The other is a research object.
| Question | Prop trading | Equity research |
|---|---|---|
| Unit of analysis | Positions, fills, P&L, risk limits | Issuers, filings, financial statements |
| Output | Trades and trading P&L | Dated notes and a living company page |
| Capital | Firm or evaluation-account capital | None allocated for customer trading |
| Success metric | Profit after costs and drawdown rules | Whether the public record is assembled and sourced |
| Conflict to disclose | Trading vs customer flow; evaluation-fee economics | Issuer payment, if any; rankings cannot be bought |
| Belvedere | Does not operate this | This is the product |
Keyword tools cluster “trading,” “prop firms,” “stock information,” and “company research” together. Readers arriving from those queries should be told immediately what Belvedere is not: not a day-trading app, not a forex broker, not a challenge vendor, not a live quote terminal.
For the research product, see independent equity research and stock information without live prices.
For public companies
Compensation does not purchase ranking placement or research conclusions.
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