Category: Prop Firms

OUR TOP 3 PROP TRADING FIRMSLIST OF FOREX PROP FIRMSCOMPARISON OF PROP FIRMS FOREXMy Forex Funds Review - Best Value for MoneyFTMO Challenge Review - Most Reputable Surge Trader Review - 1-step Evaluation FundedNext Review - New Kid on the Block The 5 ers CONCLUSION Prop Trading firms are becoming increasingly popular among the forex trading community and choosing the best prop trading firms to work with is crucial. This is due to the amount of capital forex traders need to make a significant income. Most experienced traders will tell you that even though they know how to trade, a lack of enough capital can be a huge hindrance in their trading career Best Prop Trading Firms That is why we have compiled a list of the best prop trading firms to join today. Most prop firms will have a profit split between the trader and the company. This profit split is usually not less than a 50/50 split. The majority of these prop firms allow traders to trade various commodities such as Forex, Indices, and Metals. Moreover, you are allowed to trade using any trading methodology with a few restrictions to ensure good money management practices are observed. Different prop firms will have different rules and regulations to follow in order for the trader to continue working for them. Generally, the RULES will include: Daily Drawdown Restrictions- usually 4-10%. Overall Drawdown Restrictions- usually 4-12% Profit Targets (5-10%)- depending on the model you select. Minimum Trading Days- usually 5-10 Trading Days. Restrictions on Trading during News- varies depending on the prop firm. Restriction on the use of EAs- varies depending on the prop firm. OUR TOP 3 PROP TRADING FIRMS FirmMy Forex FundsFTMOFundedNextHintBest Value for MoneyMost ReputableNew Kid on the BlockMinimum Fees$49 ($5000 account)$155 ($10,000 account)$99 ($15,000 account)PlatformMT4, MT5MT4, MT5, CTraderMT4, MT5, TradingViewRegisterSign Up!Sign Up!Sign Up! LIST OF FOREX PROP FIRMS Our top 5 selected forex prop firms are as shown below: My Forex Funds FTMO SurgeTrader FundedNext The 5 ers COMPARISON OF PROP FIRMS FOREX NoFirmProfit SplitMin. CostStartedInstant FundingSign Up1My Forex FundsUp to 85%$492020YesRegister Now!2FTMOUp to 90%$1552014NoRegister Now!3Surge TraderUp to 90%$2502021NoRegister Now!4Funded NextUp to 90%$992022NoRegister Now!5The 5 ersUp to 80 euros2016YesRegister Now! DETAILED PROP FIRM REVIEWS Below you will find a detailed review of the best prop trading firms compared using various parameters such as fees, rules, and account details. My Forex Funds Review - Best Value for Money My Forex Funds is our number one choice for this list because it offers the best value for money. They offer a $5,000 account worth $49 only! At the same time, they have multiple options in their model depending on your level of expertise. They offer Rapid, Evaluation, and Accelerated Models for Newbies, Semi-professionals, and Professional Traders respectively. The Evaluation is the normal 2 phase evaluation challenge while the Accelerated Model is where you skip the challenge and get a live account instantly. Not to mention, they have one of the lowest profit targets for the Evaluation; 8% for Phase I and 5% for Phase II. Characteristics: Profit Split- up to 85% Models- 3 Models available based on your experience: Rapid, Accelerated, and Evaluation. Accelerated is a No Challenge account for Fulltime Traders. Platforms- MT4, MT5. Leverage- 1:100 News Trading Allowed. Minimum Trading Days- 5 Trading Days Daily Drawdown Limit -5% Overall Drawdown Limit -12% Profit Target -8% Phase I, 5% Phase II. Scaling -Up to $2,000,000 Refundable Registration Fees -112% Started -2020 The Good: Multiple Models for different traders. Most Affordable Challenge account! - more than 50% cheaper than other firms for the same account size. A $10,000 account is $84 compared to others worth $150+. Instant Funding model with their accelerated program for those not interested in challenges. Low-Profit Targets 8%. The Bad: Max Drawdown is calculated based on Equity at the end of each day. FTMO Challenge Review - Most Reputable FTMO is by far the best proprietary trading firm. Its reputation precedes it. We cannot have a list of prop firms without mentioning this firm. What makes this firm stand out is its simplistic approach to proprietary funding. There are no hidden rules or programs with this firm. It only contains one model for traders to show their expertise and showcase their skills in trading. The Evaluation Model contains 2 phases - the Evaluation Phase (10% profit target) and the Verification Phase (5% profit target). The high-profit sharing of up to 90% is very attractive to any trader out there. Characteristics: Profit Split- up to 90% Models- 1 Model available; Evaluation Phase I & II. Platforms- MT4, MT5, & CTrader. Leverage- 1:100, 1:30 on Swing Accounts. Minimum Trading Days- 10 Trading Days News Trading allowed on Swing Accounts. Daily Drawdown Limit -5% Overall Drawdown Limit -10% Profit Target -10% Phase I, 5% Phase II. Scaling- Up to $400,000 Refundable Registration Fees- 100% Started- 2014 The Good: Highly Reputable. Multiple Payment Methods Available. Low-Profit Targets 10%. The Bad: The challenge fee is slightly higher compared to other market leaders. No Instant Funding. Surge Trader Review - 1-step Evaluation Surge Trader offers a unique model compared to other forex prop firms with their package ranging from $25,000 all the way to $1,000,000. Their lowest package costs $250 and their highest is $6,500 for the $1M account. They offer a 1-step evaluation process with no time limits. Characteristics: Profit Split- up to 90% Models- Evaluation Phase I Only. Platforms- MT4, MT5, TradingView (EightCap Broker). Leverage- 1:10 News Trading allowed. No minimum trading days. Daily Drawdown Limit -4% Overall Drawdown Limit -5% Profit Target- 10% Phase I. Scaling -Up to $1,000,000 Refundable Registration Fees- 0% Started -2021 The Good: 1-step evaluation process High Account sizes up to $1M. No time limits for passing challenges. The Bad: You must place StopLoss in every trade. No weekend holding. Low Leverage. Started Recently: 2021 FundedNext Review - New Kid on the Block FundedNext is truly the new kid on the block when it comes to forex funding. They have come in with competitive rates and offers. They offer 2 funding models; Express Model where you are given a profit target of 25% with no time limit with the option of consistency or non-consistency rule applied. Furthermore, they offer the evaluation model which is the normal challenge account with a 10% profit target. Weekend holding is also allowed. Unlimited retakes in case you fail to achieve the profit targets without violating the rules. One more attractive offer is you get a 15% profit share of the evaluation profits you make. This is definitely a forex prop firm to watch out for in the coming months and years. Characteristics: Profit Split- up to 90% Models -Express Model & Evaluation Phase I & II. Platforms- MT4, MT5, TradingView (EightCap Broker). Leverage- 1:100 News Trading allowed. Minimum Trading Days- 10 Trading Days.. Daily Drawdown Limit- 4% Overall Drawdown Limit- 5% Profit Target- 10% Phase I. Scaling- Up to $4,000,000 Refundable Registration Fees- 100% Mobile App Availability- iOS and Android. Started- 2022. The Good: 1-step evaluation process High scaling options of up to $4M. No time limits for passing challenges in Express Model. Android and iOS apps are available. The Bad: No weekend holding in Express Model. Started Recently: 2022 The 5 ers The 5 ers is a highly reputable forex prop firm with multiple models for different types of traders. Their models include; a 100K Bootcamp where they offer a low-cost entry fee of 85 EUROs, the rest payable after passing the required phases. The other model is the Instant Funding Model which is scalable up to $4M. Finally, they offer a unique model known as Freestyle where they evaluate your trades based on historical data of 50 or more trades. When you show consistency, you get to earn profit splits. Characteristics: Profit Split- up to 50% Instant Funding, up to 80% 100K Bootcamp. Models- Instant Funding, 100K Bootcamp, and Freestyle. Platforms- MT5. Leverage- 1:10, 1:30 based on the model. No minimum trading days. News Trading allowed. Weekend trading allowed. Daily Drawdown Limit- 5% Overall Drawdown Limit- 5% Profit Target- 6% Phase I, 6% Phase II, 6% Phase III. Scaling- Up to $4,000,000 Refundable Registration Fees- 100% Started- 2016 The Good: Highly Reputable. Multiple Payment Methods Available. Low-Profit Targets 6%. Instant Funding. The Bad: 3 phases to complete the 100K Bootcamp. CONCLUSION Choosing the best prop trading firms to work with is not an easy task. That is why in this article, we have a selective list of choice prop firms that we believe are great to work with. The list was compiled based on various factors including fees, reputation, types of models, and account size options. We shall keep on updating this list based on ongoing research to always give you the best information. Thank you and happy pipping!

Category: Prop Firms

Top 5 Best Prop Trading Firms in 2023

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