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Best Forex Prop Trading Firms
The highly liquid FX trading market is a great place to see growth, and through the rise of proprietary trading, the market's leading firms now give everyone a chance to get into this field with large enough capital to swing Forex trades, diversify their portfolio and investment strategy effectively.
Best Forex Prop Trading Firms for December 2024
Funding Traders
Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.
Recently founded by a Wall-Street professional, Funding Traders offers a vibrant and helpful community of traders along with a wide knowledge base to get new traders into the world of trading on the right foot. You can trade on forex, indices, stocks, metals, and crypto markets and work on developing a mutually beneficial relationship with their traders. Funding Traders offers a one or two-step verification program where you can show your trading potential in a way that suits your trading style best. The accounts on offer are split between 6 basic and 4 premium plans, which directly influence the fee and available funds on offer and range from $5,000 in funding to $2,000,000. With so many options, a helpful community and an extensive knowledge base, Funding Traders truly democratizes trading in the right way.
- •Great trading community
- •Many tiers to choose from
- •Extensive knowledge HUB
Funded Trading Plus
Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.
Funded Trading Plus (FT+) is a UK-based proprietary trading firm, launched in 2021. Today, the company has one of the most transparent and trader-centric services on the market, and is available to traders worldwide. Funded Trading Plus is primarily focused on forex trading, and requires only a one-time fee, with the lowest fee being $119. You can get a 100% profit split and scale your plan up to $5 million, across four different funding programs. For those that are more experienced, there is also an option to skip evaluation and get instant funding, or to upgrade your evaluation plan to increase the profit split and to give you access to quick payouts.
- •Allows upgrading of evaluation programs
- •No time limits
- •Refundable one-time fee
- •Fast payouts
- •Fair and transparent rules
PipFarm
Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.
PipFarm is an innovative trading firm focused on providing talented forex traders with institutional capital. The company features more than 60 FX pairs to trade with as of the time of writing of this review, with all the prominent currency pairs being available here. PipFarm has a unique lifetime loyalty program, features no hidden costs or subscription fees and has a highly scalable solution, ensuring that you can triple the size of your funded account.
- •Trade through the cTrader platform
- •One-time fee
- •Very high profit split
- •Allows news trading
FX2 Funding
Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.
Offering a streamlined evaluation process and openness to traders of all types and levels, FX2 has come into the spotlight during 2023 in a big way. They offer five different funded account types, ranging from their Starter account with $10,000 in live funded capital, to their Master account with $200,000. Accounts are also scalable at the highest level up to $300,000. Aside from Forex, they offer trading of indices and cryptocurrencies and they even allow traders to use scripts, indicators, EAs, copy traders and scalping to generate more profit.
- •Streamlined evaluation
- •Inviting to new traders
- •Scripts, indicators, EAs, copy trading and scalping allowed
FTMO
Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.
FTMO has been a part of the market since 2014. They’re based in Prague and they welcome all levels of investors to their platform. Traders need to complete a two-step FTMO Challenge to get funded and have access to extensive video tutorials, learning resources and even webinars where they can learn about advanced trading strategies from their experienced counterparts and professional traders. FTMO offers a high profit split of 90% and up to $400,000 in funding.
- •Long-standing prop firm
- •Famed FTMO challenge
- •Free trial available
Darwinex Zero
Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.
Darwinex Zero offers a unique approach to trading, with a risk-free, simulated environment that mirrors real market conditions. This innovative platform enables traders to develop, test, and refine their strategies using real-time market data, completely eliminating the immediate financial risks of live trading. With integration into the DARWIN asset, Darwinex Zero allows traders to build a performance track record that can attract investors once they transition to live trading.
- •Risk-free trading environment
- •Real-time market data
- •Comprehensive analytics
- •Rich educational resources
Top 5 Forex Proprietary Trading Firms - Our Picks for 2024:
The 5%ers - Best for high profit splits
Funded Trading Plus - Best for instant access to a funded account
Funding Traders - Best for friendly trading community
FX2 Funding - Best for new traders
FTMO - Best for longstanding history
What Is Forex Proprietary Trading?
Proprietary trading or simply prop trading is a type of investing where traders have the ability to use funds from a trading company in a mutually beneficial manner.
Forex prop trading in particular is specific to trading in the FX market and prop firms seek skillful investors who will be able to take their capital further and earn revenue for themselves in doing so.
Prop trading is also an industry that is democratizing investing and giving everyone the opportunity to trade with substantial capital by first proving themselves as a trader and unlocking higher tiers of capital along the way.
In short, you can start trading FX with no starting capital if you’re able to show a trading firm that you know what you’re doing and that their capital is safe in your hands.
Are Forex Prop Firms Worth it?
To an experienced Forex trader or even someone who’s willing to learn and develop as a trader they certainly can be. It’s important to keep in mind that proprietary traders trade with someone else’s capital and that the companies who provide the capital need to be sure that their money’s in safe hands.
There are two vectors to consider when considering the profitability of prop trading and those are profit split and leverage.
The way in which prop firms split profits with their traders varies greatly from firm to firm and depending on their particular funded account programs or level of trader this may differ internally.
High profit splits, or profit-sharing, may indicate lower leverage (less money to trade with) or a very complex approval process, while lower profit splits may still require a complex approval process but the sum of money available to the trader may be substantially larger.
All of these factors can make prop trading profitable as long as the investor knows what they’re doing. There’s usually very little room for error allowed with most firms imposing a strict daily loss limit.
How Legitimate Are These Firms?
Forex prop trading is a completely legit way to trade and the prop firms that provide real money to traders are too. However, this question arises a lot due to the questionable nature in which some firms operate.
Legislation and regulation concerning prop trading is currently lacking and this is because most prop firms operate with their own money rather than other investment institutions such as more traditional Forex brokers. As a result, they get to avoid most of the regulation traditional brokerages or hedge funds contend with, especially in the US.
On top of that, prop firms may use virtual funds to test and simulate trades, simulating real market conditions to further analyze traders, even on live accounts which can influence payouts if traders are still being tested.
With all that said however, legitimate forex prop firms do in fact pay if you manage to be at the very top of their ‘trader talent pool’. A very small percentage of people manage to complete all of the prerequisites set by prop firms to go on and make a stable income since prop firms are willing to fund only the best of the best.
How Do Forex Prop Firms Make Money?
Prop firms in general make their money by sharing profits with investors and requiring some kind of fee for either account maintenance or the ability to enroll in their selection process. Some forex prop firms offer refunds of this money once a certain level of trading potential is earned and a trader makes it to a high stage on their account.
Considering that only a very small percentage of traders make it through and get funded, prop firms make considerable income on fees alone and further generate income through the successful trades and successful trading strategies made by the traders indirectly working for them.
What Is the Average Success Rate?
A ballpark estimate is that more than 70% of traders fail the required evaluation given by most prop firms, which is only natural given that anyone can sign up to try trading at a prop firm.
Granted, these evaluations vary drastically and the leverage capital can be very different. It’s important to remember that in general only a small percentage, about 10% of Forex traders, make profit gains, regardless of where their capital comes from.
In a sense, trading firms want to make sure that their capital will be handled correctly and the trade portion of the equation is pretty similar to more traditional investment methods.