Proprietary trading, also called “prop trading,” has become a very popular way for talented retail traders to earn a large proft without risking their own capital. It involves using the prop frms’ funds to trade various fnancial instruments.
Prop trading is highly proftable, as traders have access to bigger capital, advanced tools and information to make informed decisions. Traders who lack enough capital can beneft from prop trading frms by trading and earning proft splits.
If you have a good understanding of the fnancial market and good risk management, prop trading frms can accelerate your journey to fnancial freedom. However, fnding the right prop trading frm that ofers great profts and a comfortable trading environment can be challenging. In this article, we will discuss some of the best forex prop trading frms to consider in 2023.
Best Prop Trading Firms for Funded Programs
FTMO: The Most Popular Retail Trading Platforms
Established in 2014 in Prague, Czech Republic, FTMO is one of the most popular prop frms in the industry. Otakar Sufner, the founder of FTMO, built the frm along with a group of young Day Traders with a mission to build a diversifed investment portfolio for global retail traders.
FTMO provides retail traders with a funded account if they successfully pass their two-step assessment process. Their rules and verifcation process are transparent, and their pricing is reasonable. This opportunity is particularly benefcial for undercapitalized traders who want to trade large accounts without risking their own capital. If traders are successful, they can receive a payout of 80% of the profts generated by the funded account. Traders can try the process for free through the FTMO Challenge’s free trial account, which ofers the same trading conditions as the full challenge.
FundedNext: Start Earning 15% Proft from the Demo Phase
Founded in March 2022, FundedNext serves international retail traders to reach their full potential by funding them. Headquartered in Ajman, UAE, FundedNext has already onboarded over 70,000 traders from 165 countries.
FundedNext is the frst prop trading frm to share 15% of its profts during its assessment period, creating excitement in the traders’ community.
FundedNext ofers two funding models with low subscription fees, trader-friendly terms and conditions, and instant account creation. It has a scaling plan with a maximum capital of $4,000,000.
It ofers a risk-free funded account opportunity to global traders with the potential to increase profts and earn up to 90% proft splits. It has a reputation for providing a comfortable and trade-friendly environment for traders to use their various trading strategies.
The company emphasizes the importance of discipline, risk management, and long-term consistency among its clients.
My Forex Funds: Earn as a Professional Trader
Another well-known prop company that has produced a very distinctive funding opportunity is My Forex Funds, founded by crypto trader Murtuza Kazmi of Toronto, Canada. Since its establishment in July 2020, the company has already onboarded over 80,000 traders from 150 diferent countries.
My Forex Funds ofers three diferent funding programs that can be adapted to diferent trader profles: Rapid, Evaluation, and Accelerated. Interestingly, in the Accelerated Program, there is no evaluation to pass, so traders can earn their proft as soon as they reach the proft target. The proft split can reach up to 85% of profts on an account of up to $2,020,000.
The Funded Trader: Royal Trading Platform
The Funded Trader was founded by Angelo Ciaramello and ofers funding and proft-sharing opportunities to skilled and passionate traders. The company was established in May 2021 and is headquartered in Liberty Hill, Texas, United States.
The funded trader provides traders with the chance to work with up to $400,000 in initial balance and earns proft shares of up to 90%. It works with two reputable brokers: Eightcap and Purple Trading Seychelles. To acquire funding, traders must pass a two-phase evaluation process that includes standard and rapid challenges. The company ofers four standard account sizes and charges a non-refundable fee for the evaluation process. The Funded Trader is a reliable and fast-growing prop frm founded by the same people behind The Forex League and VVS Academy.
E8 Funding: Innovative Scaling Funding Program
E8 Funding is a forex and CFD prop trading frm that aims to ofer innovative funding solutions to traders worldwide. Their user-friendly platform provides access to tier-1 liquidity, making the frm one of the more popular ones. It was launched on November 5, 2021, in Dallas, Texas.
E8 Funding also ofers traders the option to scale up their funded account up to $1,000,000. It provides traders with the opportunity to trade various instruments, including forex, commodities, indices, crypto, and equities, all under one account. The company expects traders to manage risks properly and maintain consistent outcomes, but in return, traders can earn up to 80% proft through trading.
Questions about Prop Firms
How to Become a Prop Trader?
To become a prop trader, you need to do research and understand the markets, choose a prop trading frm, sign up, and start your assessment process. This process ranges between 30-60 days at most online proprietary trading frms.
Here, prop traders must prove their ability to generate profts and meet the company’s requirements to continue to the next level. It is also essential to learn to trade the market, follow the rules, set up a trading strategy, and practice money and risk management.
It’s important to have a passion for trading and be mentally prepared for the ups and downs of prop trading.
How to Choose the Best Forex Trading Firm?
Choosing the best forex proprietary trading frm requires careful consideration of several factors.
First, look for a frm with a proven track record of proftability and low drawdowns. Second, consider the trading conditions, such as the fees, leverage, and trading platforms ofered by the frm.
Third, evaluate the risk management policies and procedures of the frm to ensure that they align with your trading goals and preferences. Finally, consider the level of support and service ofered by the frm. By carefully considering these factors, you can choose the best Forex proprietary trading frm to meet your needs and achieve your trading goals.
Conclusion / Endnote
In conclusion, prop trading has become increasingly popular for traders looking to use a frm’s funds to trade various fnancial instruments. There are many prop trading frms to choose from according to your preferences and trading style.
Each of these frms ofers diferent funding models and proft splits, so traders should consider their options and choose the one that suits their trading style and goals. To become a prop trader, research the markets, and start with the right mindset for success.
Ultimately, with the right approach and the right frm, prop trading can be a proftable way for traders to accelerate their journey to fnancial independence.
