Top 4 Proprietary Trading Firms 2024
A prop firm, or proprietary trading firm, is a company that provides traders with funding to trade on their behalf. Proprietary trading firms typically have a team of professional traders who develop and implement trading strategies. They also have a large pool of capital that they use to fund their traders’ accounts.
However, there are also some risks associated with trading with a prop firm. One of the biggest risks is that prop firms typically have strict trading rules and guidelines. If a trader violates these rules, they may have their account suspended or terminated. Additionally, prop firms typically keep a portion of the profits that their traders generate. Let’s dive into the content to know our top pick for FOREX Prop Firms.
1. FTMO
FTMO, a prop firm based in the Czech Republic, was established in 2014. FTMO is widely recognized for its thorough assessment process.
Pros and Cons:
FTMO offers a straightforward route for traders to secure funding, although its evaluation procedure can be quite rigorous. Traders have the opportunity to retain a substantial portion of their profits.
Pros:
- The range of funding options, which can provide up to $400,000 to help you stay ahead of the competition.
- Highly competitive profit sharing (up to 90%)
- Flexible trading conditions
Cons:
- Their evaluation boasts an impressive pass rate of 65%.
- funded accounts must strictly follow strict risk management rules.
How to apply:
You will need to pass a two-step evaluation process in order to be accepted for a funded account with FTMO. 1) The testing phase and 2) The trade phase. 1) Testing phase and 2) Actual trading phase. Please ensure that a minimum deposit of $2,000 is made into an evaluation account. Check out FTMO’s website, go through the evaluation process, and make sure you meet all the necessary criteria.
Funding options:
FTMO provides a range of funding options based on your performance during the evaluation process. The funding options vary from $5,000 to $400,000.
Profit split:
FTMO offers a profit split of up to 90/10, meaning that you keep 90% of the profits that you generate and FTMO keeps 10%.
Evaluation process:
- 10% account growth target
- Max 5% loss per trade
- Trading days requirement of 10-20 days
Trading rules:
- You cannot trade more than 10% of your account balance on any single trade.
- You cannot use martingale or other high-risk trading strategies.
- You cannot hold positions overnight.
- Use only approved instruments.
- Follow trading schedule rules.
Find out more on FTMO from ftmo.com
2. The 5%ers
The 5%ers are an Israeli prop trading company that’s been around for a while. They have a cool way of helping traders get started. In their “Bootcamp” program, you only need to pay a small part of the fee upfront. The rest is paid later, but only after you’ve succeeded and passed their requirements.
Pros:
- Two-Phase Challenge, Unique-Three-Phase or Instant Funding
- Trust Rating Score: 4.8
- You can use expert advisors
- News Trading: Allowed
- Leverage: Up to 1:100
- No minimum days or trades requirements.
Cons:
- Payouts with the 5%ers can go as high as 100%, but they typically begin at about 75% for traders who receive funding.
- The 5%ers offer trading in forex, metals, and indices only. They don’t have shares, cryptocurrencies, or futures available for trading.
How to apply:
After you sign up, you will receive 25% of your chosen account size as your capital. You will need to reach 6% profit target for low-risk accounts and 12% account target for Aggressive accounts to get the full amount of your account size.
Funding options:
| Account Size | Instant Funding | One-time Fee |
| $24,000 | $6,000 | €235 |
| $40,000 | $10,000 | €385 |
| $80,000 | $20,000 | €745 |
Profit split:
50% isn’t a great profit split when you compare the 5%ers to FTMO or Top step. However, neither of those firms offer instant funding.
Evaluation process:
Evaluation process of 5%ers is quite simple. You need to gain their predetermined target for your account, and you will get access to their real funding.
You can read more about their program from the 5%ers
3. Earn2Trade
Earn2Trade is one of the US-based proprietary trading firms that was founded in 2012. Earn2Trade is known for its relatively easy evaluation process and its flexible trading conditions. They are the leader in trader education.
Pros:
- Relatively easy evaluation process
- Flexible trading conditions
- Good reputation
- Low account minimums from $500
- Free educational courses and tools
- 70% profit split for passing traders
Cons:
- Profit split is not as competitive as other prop firms.
- Maximum funding currently $25,000
- High pass rate required for evaluation.
How to apply:
To apply for a funded account with Earn2Trade, you must first pass a demo trading phase. All you need to do is open a free practice account to use their tools and courses with a deposit of $500 for live evaluation account and Pass evaluation and get funded account.
Funding options:
Earn2Trade offers a variety of funding options, ranging from $250 to $50,000, segmented into:
- Starter: Up to $5,000 funding
- Advanced: Up to $15,000 funding
- Pro: Up to $25,000 funding
Profit split:
Earn2Trade offers a profit split of up to 80/20, meaning that you keep 80% of the profits that you generate and Earn2Trade keeps 20%.
Evaluation process:
The evaluation process is easypeasy. With a 10% profit target on $500 account balance and maximum 5% loss per trade. And you will require 10 days trading (atleast)
Trading rules:
Earn2Trade has a number of trading rules that traders must follow. These rules are designed to protect Earn2Trade’s capital and to ensure that traders are trading responsibly. Some of the key trading rules include:
- You cannot trade more than 10% of your account balance on any single trade.
- Maximum position size of 20 mini lots
- Required daily stop loss of 40 pips
- You cannot use martingale or other high-risk trading strategies.
- You cannot hold positions overnight.
- Only trade forex and gold.
Find out more about Earn2Trade from Earn2Trade
4. The Funded Trader
The Funded Trader is UK-based proprietary trading firms that was founded in 2018. The Funded Trader is known for its wide range of trading instruments.
Pros:
- Competitive funding options (up to $300k challenge account)
- Wide range of trading instruments
- Minimum challenge price is $65
- 80% profit split for passing traders
- They offer huge discounts & giveaways
Cons:
- Profit split is not as competitive as other prop firms
- Evaluation process is difficult (just 65%)
- Strict trading restrictions on funded accounts
How to apply:
To apply for a funded account with The Funded Trader, you must first pass a two-phase evaluation process. Open a minimum $35 evaluation account and pass both the combine evaluation program and begin trading. In both processes you need to meet a set of profit and loss targets.
Funding options:
The Funded Trader offers a variety of funding options, ranging from $5,000 to $200,000.
Profit split:
The Funded Trader offers a profit split of up to 90/10
Trading rules:
The Funded Trader has a number of trading rules that traders must follow. These rules are designed to protect The Funded Trader’s capital and to ensure that traders are trading responsibly. Some of the key trading rules include:
- You cannot trade more than 10% of your account balance on any single trade.
- You cannot use martingale or other high-risk trading strategies.
- You cannot hold positions overnight.
Find out more on The Funded Trader
Conclusion
Proprietary trading firms can be a great way for traders to gain access to more capital and to trade with professional support. However, it is important to choose a prop firm carefully and to understand the risks involved.
Each of these top 5 prop firms has its unique offerings and advantages, so take the time to research and select the one that aligns best with your trading aspirations.
