Prop Firms

10 Best Forex Prop Trading Firms

May 11, 2023
3 min
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10 Best Forex Prop Trading Firms

As the number of new forex prop firms entering the industry and providing funding to traders worldwide continues to grow, the task of selecting the right firm for obtaining funded accounts is becoming more challenging. Numerous factors need to be considered when making this choice, including trading strategy, drawdown, leverage, trading requirements, and the overall reputation of the prop firm.

Forex Funding Reviews has put together a straightforward yet comprehensive analysis, comparing the top forex funding options available globally.

The Top 10 Forex Prop Firms Of 2024

BEST PROP FIRM

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#1) FundedNext

FundedNext is a relatively new platform for prop trading that specifically caters to Forex traders worldwide. What sets them apart from other similar platforms is their unique offering of a 15% profit split during the evaluation stage itself. This means that if you can consistently maintain profitable trading accounts, you will be generously rewarded.

If you demonstrate consistent profitability, you become eligible for a 40% increase in your account balance every 4 months. Joining FundedNext is a straightforward process. You simply sign up and choose your preferred funding model (Express or Evaluation), then trade consistently to eventually become a certified funded trader.

To make your experience even better, FundedNext provides you with a dedicated account manager who is always available to address your questions and concerns whenever you need assistance.

Profit Split: Up To 90%

  • Profit split of 15% at the evaluation stage
  • Dedicated account manager assigned
  • $4M Scale-Up Plan
  • 2 Different Funding Model Options to Choose from
  • Android and iOS mobile apps are available

Pros:

  • Compatible with all trading styles
  • Low commissions
  • Get account access within seconds
  • Trader-friendly leverage
  • Unlimited evaluation

Cons:

  • No weekend holding option for the Express model.

Founded: 2022
Headquarters: Ajman, AE
Revenue:
Employee Size: 51-100
Fees: One-time fee starting at $99 for Evaluation model of funding and One-time fee starting at $119 for the Express model of funding.

#2) Funded Trading Plus

Experience the rapid growth of Funded Trading Plus, a leading prop firm provider. With an impressive array of programs, it's no wonder they're gaining popularity. Benefit from straightforward rules, up to a remarkable 90% profit split, and competitive pricing. Starting at just $12,500, their entry-level program allows you to trade up to an astounding $2,500,000. Explore their diverse range of trading opportunities, including Forex, indices, commodities, and an extensive selection of cryptocurrencies. Join Funded Trading Plus and unlock the potential for success in your trading endeavors.

Founded on November 2nd, 2021, and launched on December 16th, 2021, Funded Trading Plus is a proprietary trading firm based in London, UK. They provide clients with the opportunity to operate trading accounts with initial capital of up to $200,000, which can be scaled up to an impressive $2,500,000.

Profit Split: Up To 90%

Pros:

  • A large variety of trading instruments
  • No minimum or maximum trading days
  • Overnight trading and holding is allowed
  • Up to $2,500,000 capital
  • Excellent Trustpilot rating of 4.9/5

Cons:

  • Trailing Drawdown

Founded: 2021
Headquarters: London, UK
Revenue:
Employee Size: 51-100
Fees: One-time fee starting at $119 for Experienced Trader model of funding and Advanced Trader model fee starting at $199 and Master Trader model starting at $225.

#3) Bespoke Funding Program

Bespoke Funding is an exclusive trading firm dedicated to uncovering untapped potential in the proprietary trading sector. Their mission is to provide exceptional funding prospects to traders around the globe, offering accessible pathways to becoming professional traders who can manage their capital remotely. With Bespoke Funding, traders have the opportunity to work with substantial funding of up to $4,000,000 and retain up to 80% of the profits they earn. They can accomplish this by trading a diverse range of assets, including forex pairs, commodities, indices, and cryptocurrencies.

Bespoke Funding, established on September 26th, 2022, is a proprietary firm that provides traders with a range of funding programs to choose from. These programs include two two-step evaluation options and a one-step evaluation program. The company operates from its offices in London and offers traders the opportunity to access account sizes with balances of up to $500,000, while allowing them to retain up to 80% of their profits. Bespoke Funding has formed a partnership with Eightcap, who serves as their broker.

Profit Split: Up to 80%

Pros:

  • Unlimited trading period to complete evaluation phases
  • Maximum allocation capital of up to $4,000,000
  • Bi-weekly payouts (Classic & Rapid challenge)

Cons:

  • Lot size limitations

Founded: May 2022
Headquarters: London, UK
Revenue: NA
Employee Size: 1-20
Fees: $329 for $50K account size.

#4) The 5%ers

The 5ers is a well-established and highly reputable proprietary trading firm within the industry.

One standout feature of The 5ers is that they allow traders to engage in live trading of forex, metals, and indices right from the start, without the need for trial accounts. Traders have the flexibility to trade according to their preferred style, whether it's using Expert Advisors (EAs) or copy trading. Moreover, the company offers instant funding options for traders who prefer a streamlined process.

The 5ers offers three distinct packages to cater to different trading needs:

  1. The Instant Funding Program: The 5ers pioneered the concept of instant funding, which has been widely adopted by others in the industry. This program allows traders to access funding with growth potential of up to $4 million. Traders can even have multiple instant programs running simultaneously.
  2. The Bootcamp: This package offers a low-entry cost challenge, enabling traders to showcase their trading skills. Traders only need to pay 300 euros upfront and, upon passing the challenge, they receive a funded account with a balance of $100,000.
  3. The Freestyle: The 5ers introduces a revolutionary funding model through this package. Instead of relying on time or balance targets, traders demonstrate their trading skills over a series of trades. This innovative approach provides traders with more flexibility and removes traditional funding constraints.

Overall, The 5ers stands out as a pioneering and customer-centric proprietary trading firm, offering immediate live trading opportunities, a variety of funding packages, and an emphasis on skill-based evaluation rather than arbitrary benchmarks.

Profit Split: Up to 90%

Here are the notable features of FTMO as described:

  • Maximum Capital: Traders can access up to $400,000 in capital for their trading activities.
  • Swing Accounts: These accounts allow traders to hold positions over the weekend or during microeconomic releases without any restrictions.
  • Account Balance Increase: FTMO offers a scaling plan where the account balance limit increases by 25% every four months, fostering a long-term business relationship.
  • Payout Ratio: The firm operates with an 80:20 payout ratio, which adjusts to 90:10 when the FTMO account balance limit is increased.
  • Custom Apps: FTMO provides custom-developed apps tailored for traders, assisting with discipline, journaling, and market analysis.
  • Leverage Trading: Traders can engage in leverage trading at a ratio of 1:100, positioning FTMO as one of the premier Forex Prop trading firms.
  • Low Spreads: The firm offers competitive and favorable spreads for traders.
  • One-Time Fee: FTMO stands out as an excellent choice for beginners with its one-time fee structure, making it accessible and cost-effective for new traders.
  • Monthly Payouts: Payouts for traders are made once a month, ensuring regular compensation.

Pros:

  • Funding up to $4 million. There is no risk in funding. Funding doubles after each milestone.
  • The Freestyle Program provides funding of $25,000 or $50,000, and traders can leverage the capital up to 30 times and withdraw profits after 50 positions.
  • It’s one step with no time limit, no drawdown, and 100% profits are yours.
  • The $100,000 Bootcamp The first low entry cost challenge Model has a starting balance of between $25,000 to $75,000 and a leverage of up to 10 times.

Founded: 2016
Headquarters: Haroshet Street, Raanana, Israel.
Revenue: $5 million
Employees: 25

#5) SurgeTrader

SurgeTrader offers a diverse range of trading options, including forex, metals, indices, oil, crypto, and stocks. The standard prop trading account requires an investment of $25,000 and offers a profit split of 75:25. The profit target is set at 10%, with a daily loss limit of 4% and a maximum trailing drawdown of 5%. This package is available for $250.

For those seeking more advanced accounts, SurgeTrader provides several options. The intermediate account costs $400 and allows for a maximum funding of $50,000. The seasoned trader account, priced at $700, offers a funding level of $100,000. The advanced trader account, available for $1,800, provides a funding capacity of $250,000.

For experienced traders, SurgeTrader offers the expert account, which requires an investment of $3,500 and grants access to $500,000 in funding. The master account, priced at $6,500, provides a substantial funding level of $1 million. With such a wide range of account options, SurgeTrader stands out among prop trading companies.

It's important to note that traders are required to keep up to 75% of their profits with the capital. Additionally, account limits are subject to adjustment based on a trader's performance, a common practice among prop trading companies.

Traders using SurgeTrader must adhere to certain rules, including risk limitations, closing positions before the weekend, and maintaining a maximum number of open lots equal to 1/10,000 of the account size. For example, losses should not exceed 5% up to a starting balance of +5%.

Profit split: Up to 75%.

Features:

  • No monthly recurring fees.
  • There are no minimum trading days for account levels, ensuring you qualify for higher funding limits quickly.
  • Trade in any strategy that works for you.

Pros:

  • Up to 75% profit split.
  • Up to $1 million trading limit.
  • Non-recurring payments to qualify for a live-funded account.
  • 1-step audition process.
  • 10% profit targets without a period to achieve it.
  • Fast withdrawal processing.

Cons:

  • Short operating period for the company (started in 2021).
  • No positions are to be held during the weekend.
  • 5% maximum drawdown, 1/10000 maximum open lots.
  • Low leverage – 10:1 forex, metals, indices, oil; 5:1 for stocks, and 2:1 for crypto.

Founded: 2008
Headquarters: South, Naples, Florida
Revenue: Not available
Employees: 1 – 10
Fees/charges: $250 on the cheapest package and $6,500 on the most expensive package.

#6) The Funded Trader Program

When it comes to top-notch prop firms, The Funded Trader Program stands out as a unique and exceptional option. What sets it apart is its approach of not imposing strict regulations on your trading style. Traders within this program enjoy the freedom to hold trades overnight, trade during news events, and even trade over the weekends. This level of flexibility is a distinguishing factor for the program.

The Funded Trader Program offers two funding program options to cater to different types of traders. First, there are the Standard Challenge Accounts, which aim to identify skilled traders. These traders are rewarded based on their consistency throughout a two-phase evaluation period. The evaluation program account allows traders to trade with leverage of up to 1:200.

Additionally, there are the Rapid Challenge Accounts, designed to identify serious traders who demonstrate consistency during the two-phase evaluation period. The main difference here is that traders in this program are allowed to trade with leverage of up to 1:100. Combined with more relaxed trading rules, The Funded Trader Program is considered one of the best prop trading firms available.

Overall, The Funded Trader Program's approach of accommodating different trading styles, along with its funding options and flexibility, makes it a highly attractive choice in the prop trading industry.

Profit Split: Up to 90%

Features:

  • Maximum Capital with standard: $600,000
  • Up to 200:1 leverage
  • News Trading Allowed
  • Weekend Trading and Overnight Trading allowed
  • Maximum Capital: $1,500,000 with scaling plan.

Pros:

  • Very relaxed trading rules.
  • Tempting benefits with their scaling plan, which allows traders to hold a maximum balance of up to $1,500,000 and a 90% profit split.
  • Supports a plethora of trading instruments like forex pairs, indices, cryptocurrencies, etc.

Cons:

  • Customer support needs work.

Founded: May 2021
Headquarters: Fort Lauderdale, Florida, USA
Revenue: NA
Employee Size: 1-10
Fees: $315 for $50K account size.

#7) T4T Capital

T4T Capital, a proprietary trading firm based in Dublin and New York with trading servers in London, has a stated mission to offer trading opportunities to retail forex traders. With 28 years of experience in the forex market, they provide a professional service built on extensive knowledge. What sets them apart is their emphasis on education, which surpasses that of most other top prop firms.

In addition to a diverse selection of trading accounts, T4T Capital caters to various trading styles by offering a range of instruments such as forex currency, equities, indices, and commodities. Regardless of your preferred approach, they have options to accommodate you. They provide seven different account types, starting from $25,000 and going up to $1,000,000. This wide range of account sizes ensures that T4T Capital can meet the needs of traders who prefer safer trading levels as well as those who manage substantial amounts of money.

Furthermore, their profit-sharing model is attractive, offering a percentage ranging from 60% to an impressive 80% for profits exceeding 20%. Traders can utilize the widely recognized trading platform MT4, which provides excellent tools and resources for trading.

Profit Split: Up to 80%

Pros:

  • Funding up to $1,000,000
  • No time limit on profit target
  • Simple trading rules and account limits

Cons:

  • Limited leverage

Founded: May 2009
Headquarters: Dublin, UK
Revenue: NA
Employee Size: 1-50
Fees: $250 for $50K account size.

#8) FTMO

FTMO provides individuals with the opportunity to explore and develop their forex trading skills through the FTMO Challenge and Verification course. Upon successful completion, participants are invited to join the proprietary trading firm and gain the ability to manage a trading account with the company. FTMO goes beyond just providing trading opportunities and offers additional support to its customers. They employ performance coaches who assist traders, conduct account analyses, and provide various other resources to help traders excel in their endeavors.

Traders who join FTMO receive 90% of the profits they earn from trading with the firm and utilizing its tools. Additionally, customers are trained on effective risk management techniques, ensuring they can navigate the market with prudence. Thanks to its comprehensive services and exceptional performance, FTMO is highly regarded as one of the top proprietary trading firms in the industry.

Profit Split: Up to 90%

Here are the notable features of FTMO as described:

  • Maximum Capital: Traders can access up to $400,000 in capital for their trading activities.
  • Swing Accounts: These accounts allow traders to hold positions over the weekend or during microeconomic releases without any restrictions.
  • Account Balance Increase: FTMO offers a scaling plan where the account balance limit increases by 25% every four months, fostering a long-term business relationship.
  • Payout Ratio: The firm operates with an 80:20 payout ratio, which adjusts to 90:10 when the FTMO account balance limit is increased.
  • Custom Apps: FTMO provides custom-developed apps tailored for traders, assisting with discipline, journaling, and market analysis.
  • Leverage Trading: Traders can engage in leverage trading at a ratio of 1:100, positioning FTMO as one of the premier Forex Prop trading firms.
  • Low Spreads: The firm offers competitive and favorable spreads for traders.
  • One-Time Fee: FTMO stands out as an excellent choice for beginners with its one-time fee structure, making it accessible and cost-effective for new traders.
  • Monthly Payouts: Payouts for traders are made once a month, ensuring regular compensation.

Pros:

  • Customers who include retail traders get access to MT4, MT5, and CTrader trading tools.
  • Customers are furnished with data coming from liquidity providers to simulate real market conditions for traders who aspire to make more money when trading.
  • The platform supports trading crypto as well as forex, indices, commodities, stocks, and bonds.
  • About seven payment methods are available, including Bank transfer, and Skrill.

Cons:

  • Higher cost compared to other options.

Founded: May 2014
Headquarters: Praha, Hlavni Mesto Praha, Czech Republic
Revenue: $14 Million
Employee Size: 51-200
Fees: $345 for $50K account size.

#9) My Forex Funds

My Forex Funds is a platform that offers instant funding for traders, allowing them to start trading right away. In addition to profit splits, traders also have the opportunity to earn bonuses. The funding programs are customizable, catering to traders of different experience levels. Traders can join the platform at a low entry cost and have the potential to earn money while gaining more trading experience.

The company specializes in trading forex, contracts for differences (CFDs), indices, and commodities like metals.

Key Features:

  • Profit Split: Traders can receive up to 85% of the profits, making it attractive for professional proprietary traders.
  • Evaluation Process: Traders can prove their trading experience by passing an evaluation process.
  • Accelerated Arrangement: Suitable for full-time traders, this program offers faster funding opportunities.
  • Trading Platforms: Traders can use MetaTrader 4 and MetaTrader 5 for their trading activities.
  • Trading Support: The platform provides various tools to support traders, including Discord chats, blogs, insights, and 24/7 trader support.
  • Crypto Payments: Traders have the option to pay using cryptocurrencies such as BTC, ETH, and LTC.
  • Realistic Demo Account: The demo account simulates real market conditions, allowing traders to practice effectively.
  • Payout Structure: The first payout occurs 30 days after the first trade placement, with subsequent payouts based on a profit target, purchase fee refund, and profit split percentage.
  • Funding Programs: My Forex Funds offers an accelerated program for testers with funding ranging from $2,000 to $5,000 and the potential to grow capital up to $2 million. The evaluation program offers funding from $10,000 to $200,000, with the possibility to grow accounts up to $600,000.
  • Assured Funding: The funding amount varies based on the target set.
  • Leverage: Traders can access leverage of up to 100 times, depending on the chosen plan.
  • Weekly Profits: Traders receive 50% of their account profits weekly for accounts older than 5 days, with payment options including PayPal, Bank Transfer, TransferWise, or cryptocurrencies.

Pros:

  • Suitable for beginner, intermediate, and professional traders.
  • Affordable evaluation costs, offering a 25% discount compared to FTMO for the same capital level.
  • High-profit splits, instant funding, and low-profit targets for progression to a funded account.
  • Wide reach, with traders from 40,000 trades in 120 countries.

Cons:

  • Slow customer service.
  • Drawdown is based on equity rather than the account balance.

Company Information:

  • Founded: 2020
  • Headquarters: Toronto, Ontario, Canada
  • Revenue and Employee Information: Not available

Fees/Costs: Registration fees range from $499 to $2,450 as a one-time payment, depending on the desired trading account target ranging from $2,000 to $50,000.

#10) Forex Traders UK

Forex Traders UK is a proprietary trading firm that provides funding to forex traders globally, with a maximum funding amount of £1,000,000. They offer instant funding, allowing traders to access live funds quickly. Additionally, the firm provides traders with a generous amount of leverage, enabling them to amplify their trading positions.

One notable aspect of Forex Traders UK is their realistic trading parameters. These parameters set reasonable goals and guidelines for traders, ensuring a balanced approach to risk management. This can contribute to a more sustainable and profitable trading experience.

Moreover, Forex Traders UK has built a positive reputation within the industry, which is a valuable attribute for a prop firm. A good reputation indicates that the firm has established trust and credibility among traders, which is essential when partnering with a funding provider.

Another noteworthy feature of Forex Traders UK is their aggressive capital scaling breakdowns. This means that as traders demonstrate consistent profitability, they have the opportunity to access higher levels of funding. The firm's scaling breakdowns are designed to reward successful traders by increasing their capital allocation, allowing them to further expand their trading activities.

Overall, Forex Traders UK offers substantial funding opportunities, instant access to live funds, attractive leverage, and realistic trading parameters. Their positive reputation and aggressive capital scaling breakdowns make them an appealing option for forex traders seeking funding and growth opportunities.

Pros:

  • Up to 80/20 profit split
  • Standard MT4 is easy to use if you want to switch platforms once you have mastered it.
  • Low-risk and aggressive programs are suitable for a wide range of traders.
  • For beginners, risk-free capital is available for a one-off fee.
  • You can start immediately, without a demo or testing.
  • It is designed for beginners and aims to help those who are new to forex trading.

Cons:

  • If you do not reach your target profits, you will be removed from the program.
  • The Academy is quite incomplete, so it is not the right place to start a complete education.
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Prop Firms
May 11, 2023