Best Forex Prop Firms in February 2024 | Fortunly (2024)

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Best Forex Prop Firms in February 2024 | Fortunly (1)

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Best Forex Prop Firms in February 2024 | Fortunly (2)

Written By

G. Dautovic

Updated

November 30,2023

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The highly liquid FX trading market is a great place to see growth in 2024, and through the rise of proprietary trading, the best Forex prop 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.

We’ve listed the top Forex prop firms below to help you decide which trading platform offers the best options.

Show More...

Top Forex Prop Trading Firms for February 2024

Best Forex Prop Firms in February 2024 | Fortunly (3)

Get Funded

On Official Website

The 5%ers

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

Best Forex Prop Firms in February 2024 | Fortunly (4)

OVERVIEW

Founded in 2016 by Gil Ben Hur, a full-time individual Forex trader since 2007, The 5%ers platform offers an extensive Forex prop trading program with in-depth trader analysis via the Bootcamp program. This program allows traders to complete three challenge phases and then get access to a six-figure trading account with a profit split of 100% for the highest tier traders. The 5%ers also offer a Hyper Growth program where you can get bonuses as extra rewards for your great performance as a trader which you can withdraw after the first phase of their Bootcamp program. On top of all this, you can enroll in their High-Stakes program for $39 monthly and get a chance to earn a $10,000 monthly salary.

  • In-depth trader analysis
  • High profit split
  • Bonuses through the Hyper Growth program

Get Funded

On Official Website

PROFIT SPLIT

Up to 100%

EVALUATION

Yes

REFUNDABLE REGISTRATION FEE

Yes (with High-Stakes program)

TRADING PLATFORMS

MetaTrader 5

PRICE

From $39

MAXIMUM CAPITAL

$4,000,000

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.

Best Forex Prop Firms in February 2024 | Fortunly (6)

OVERVIEW

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. They offer Forex funded trading, 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 Forex trading in the right way.

  • Great trading community
  • Many tiers to choose from
  • Extensive knowledge HUB

Get Funded

On Official Website

PROFIT SPLIT

Up to 100%

EVALUATION

Yes

REFUNDABLE REGISTRATION FEE

Yes

TRADING PLATFORMS

FXCH

PRICE

From $50

MAXIMUM CAPITAL

$2,000,000

Best Forex Prop Firms in February 2024 | Fortunly (7)

Get Funded

On Official Website

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.

Best Forex Prop Firms in February 2024 | Fortunly (8)

OVERVIEW

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 $1,000,000. Aside from Forex prop trading 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

Get Funded

On Official Website

PROFIT SPLIT

Up to 85%

EVALUATION

Yes

REFUNDABLE REGISTRATION FEE

Yes

TRADING PLATFORMS

Eightcap MT4, Eightcap MT5

PRICE

From $95

MAXIMUM CAPITAL

$1,000,000

Best Forex Prop Firms in February 2024 | Fortunly (9)

Get Funded

On Official Website

FTMO

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

Best Forex Prop Firms in February 2024 | Fortunly (10)

OVERVIEW

FTMO has been a part of the Forex prop trading 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

Get Funded

On Official Website

PROFIT SPLIT

Up to 90%

EVALUATION

Yes

REFUNDABLE REGISTRATION FEE

Yes

TRADING PLATFORMS

MetaTrader 4, MetaTrader 5, cTrader

PRICE

From $155

MAXIMUM CAPITAL

$400,000

Best Forex Prop Firms in February 2024 | Fortunly (11)

Get Funded

On Official Website

Fidelcrest

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

Best Forex Prop Firms in February 2024 | Fortunly (12)

OVERVIEW

Based in Cyprus, Fidelcrest is a proprietary trading firm run by a team of expert Forex traders and has been since 2018. They currently have over 6,000 traders from more than 170 countries and they even boast the title of the Best Micro Forex in Europe which they’ve received in 2021 at the Forex Expo in Limassol. Fidelcrest offers two programs to choose from - Micro Trader and Pro Trader with the Micro program offering up to $60,000 while their Pro tier offers up to $1,000,000 in funding. Fidelcrest also refunds the fee necessary for you to pass evaluation and there are no additional monthly fees of any kind once you’re approved. They support Forex trading, commodities, indices, and stock shares.

  • Best Micro Forex in Europe award 2021
  • Run by expert Forex traders
  • No additional monthly fees once approved

Get Funded

On Official Website

PROFIT SPLIT

Up to 90%

EVALUATION

Yes

REFUNDABLE REGISTRATION FEE

Yes

TRADING PLATFORMS

MetaTrader4, MetaTrader5

PRICE

From $99

MAXIMUM CAPITAL

$1,000,000

Best Forex Prop Firms in February 2024 | Fortunly (13)

Get Funded

On Official Website

SurgeTrader

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

Best Forex Prop Firms in February 2024 | Fortunly (14)

OVERVIEW

Founded in 2021, in Florida, SurgeTrader is yet another newcomer to the Forex prop trading industry. They offer a wide variety of trading instruments and aside from Forex trading they offer indices, metals, oil and crypto trading. To create an account and start with $25,000 you’ll have to pay $250 for the audition fee which is non refundable, however SurgeTrader doesn’t impose minimum trading days or a 30-day assessment period.

  • Wide variety of trading instruments
  • No minimum trading days
  • No 30-day assessment period

Get Funded

On Official Website

PROFIT SPLIT

Up to 90%

EVALUATION

Yes

REFUNDABLE REGISTRATION FEE

No

TRADING PLATFORMS

Eightcap M4, Eightcap M5

PRICE

From $250

MAXIMUM CAPITAL

$1,000,000

Best Forex Prop Firms in February 2024 | Fortunly (15)

Quick Breakdown

Best Forex Proprietary Trading Firms in 2024 - Our Picks:

  • The 5%ers - Best for high profit splits

  • Funding Traders - Best for friendly trading community

  • FX2 Funding - Best for new traders

  • FTMO - Best for longstanding history

  • Fidelcrest - Best for expert support

  • SurgeTrader - Best for wide variety of trading instruments

What Is Forex Prop Firm Trading?

Proprietary trading or simply prop trading is a type of investing where traders have the ability to use Forex funds from a prop trading company in a mutually beneficial manner.

Forex prop trading in particular is specific to trading in the FX market and Forex 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 Forex prop trading firm that you know what you’re doing and that their capital is safe in your hands.

Forex Prop Firms Worth it?

To an experienced Forex investor 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 (prop firms) 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 Forex prop firms split profits with their traders varies greatly from firm to firm and depending on their particular funding 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.

Are Forex Prop Firms Legal in the U.S.?

Forex prop firms are still legal in the U.S., however, the market isn’t well-regulated. This means that there are no particular protections for traders and as a result many scams exist.

Sticking to reputable firms is the best course of action when it comes to any type of prop trading and given that the prop trading market is relatively new, it’s safe to assume that regulation can be expected in the near future.

Are Forex Prop Firms Legit?

Forex prop trading is a completely legit way to trade and the prop firms that provide real money to prop traders are too. However, this question arises a lot due to the questionable nature in which some prop 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.

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 prop trading 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 investors indirectly working for them.

What Is the Most Reliable Forex Prop Firm?

The firms we’ve listed here are quite reputable and not just for Forex prop trading. These firms are well-known in the world of prop trading as a whole and have a lot of online reviews from users going over individual experiences.

Our advice would be to get involved with the trading community of your chosen firm to understand both the culture of it and to get in touch with people who have traded there in the past.

Social media is a great place to learn more about your chosen prop firm. You should also evaluate things like withdrawal conditions and any imposed restrictions before signing up.

What Is the Success Rate of Prop Firms?

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, Forex prop 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.

Frequently Asked Questions

Is there a Forex prop firm that provides a free trial funded account?

+

No, not really. FTMO offers a free trial where you can try your trading skills and run through a shorter version of their FTMO Challenge but in essence, no prop firm is willing to give money just for the sake of it, for free, to anyone.

How hard is it to pass a prop firm evaluation?

+

On average, over 70% of traders fail to pass prop firm challenges and reach a funded trader program set by most firms. This is only natural considering that anyone can sign up. On top of the majority of prop firms leave only a small room for error during trading later on.

Do prop traders need a license?

+

Currently no. Since prop firms trade with their own monetary assets, they’re not considered a provider of financial services and anyone can join and get funded if they manage to pass the prop firm’s evaluation process.

Is prop trading a good career?

+

For experienced and knowledgeable individuals it can be. Prop trading requires continual success in order to be a stable career path since at the end of the day, traders make trades with capital provided by the prop firm which means they’re always being monitored and evaluated to ensure safe and profitable trades are being made. With that said, some prop firms even provide a salary to successful full-time traders.

Best Forex Prop Firms in February 2024 | Fortunly (2024)

FAQs

What is the best prop firm in 2024? ›

FTMO. FTMO is one of the leading prop firms globally, offering traders the opportunity to trade with a funded account. It has a reputation for high-quality education, rigorous evaluation process, and excellent customer support. In Nigeria, FTMO is a top choice for traders looking to take their trading to the next level ...

What is the most rated prop firm? ›

The most popular prop trading firms and funded programmes
  • Axi Select.
  • FTMO.
  • The Forex Funder.
  • E8 Markets.
  • True Forex Funds.
  • The 5%ers.
  • Funded Next.

Which prop firm has no daily drawdown? ›

Real Prop Funding: The Prop Firm With No Max Daily Drawdown

At Real Prop Funding you only have to Pay once, pass the test and get virtual funding! Keep up to 90% of profits, trade anytime, and hold trades over the weekend.

How many traders pass prop firms? ›

The article from Lux Trading Firm provides slightly different results. According to it, 4% of traders, on average, pass prop firm challenges. But only 1% of traders kept their funded accounts for a reasonable amount of time.

Which prop firm is better than FTMO? ›

FunderPro: FunderPro is the most popular alternative to FTMO. It has a similar two-step challenge process, but the requirements are slightly more lenient. For example, the FunderPro Challenge requires a 10% profit target in 30 days, while the FTMO Challenge requires a 12% profit target.

What are the top 5 futures prop firms? ›

The top futures prop firms are TopStepTrader, Jane Street, FTMO, 3Red Partners and The Trading Pit. Jane Street and 3Red Partners are very secretive about their fees and profit splits but they do offer some of the best technology and high-frequency trading.

Which prop firm has the fastest payout? ›

Top Forex Firms Based on Pay-out Frequencies
  • Maven [5 days] Matching Funding Pips, Maven also offers pay-outs every 5 days, understanding the need to provide traders with frequent capital access. ...
  • Traddoo [7 days] ...
  • Funded Trading Plus [7 days] ...
  • Smart Prop Trader [12 days] ...
  • Summary.
Feb 14, 2024

Why is FTMO banned in the US? ›

FTMO have now restricted access to all new US-based traders as of January 2024. This appears to be related to regulatory issues and may have something to do with the recent My Forex Funds case.

What is the best instant funding prop firm? ›

While FTMO stands out as the best overall prop firm, other options such as Fidelcrest, 5%ers, BluFX, Glow Node, Smart Prop Trader, FTUK, Instant Funding, and SurgeTrader also offer attractive features and benefits.

Do prop firms really pay out? ›

Yes, prop firms do pay. While there are some scams out there popping up everyday, reputable prop trading firms like True Forex Funds, FTMO,5%ers,FundedNext are legitimate and pay traders according to their profit-sharing agreements. As for True Forex Funds, I can vouch for their credibility.

Which prop firm has the lowest fees? ›

Best cheap forex prop firms
  • FTMO: evaluations starting at $399.
  • TopStepTrader: Challenges starting at $375.
  • T4tCapital: Flexible evaluation options starting at $299.
  • Funded Trading Plus: Starting at $25.
  • Earn2Trade: $99 Mini challenge.
  • True Trading Group: $49 evaluation with a $25,000 virtual account.
Feb 27, 2024

What is the oldest prop trading firm? ›

{quote} FTMO (unless you are a US citizen), The5ers, and City Traders Imperium are the three oldest prop firms, and probably the only ones with 5+yrs reputable history of reliable payouts.

How much does the average prop trader make? ›

Prop Firm Trader Salary

The salary of a prop trader can vary greatly depending on several factors such as experience, performance, and the size of the firm. On average, a junior prop trader can expect to earn anywhere between $50,000 to $100,000 per year, while a senior trader can make upwards of $500,000 annually.

Can you make a living trading for a prop firm? ›

Yes, as a funded trader with True Forex Funds, it is possible to make a living from prop trading firms. Proprietary trading firms, or prop firms, often provide traders with the opportunity to trade with the firm's capital, allowing them to access larger trading positions and potentially increase their profits.

What is the failure rate for FTMO? ›

The FTMO challenge has a reputation for being extremely difficult to pass. Across FTMO's various account levels, it is estimated that only around 10% of traders are able to successfully complete the evaluation and become a funded trader. This means approximately 90% of those who attempt the challenge end up failing.

What prop firm has the fastest payout? ›

Top Forex Firms Based on Pay-out Frequencies
  • Maven [5 days] Matching Funding Pips, Maven also offers pay-outs every 5 days, understanding the need to provide traders with frequent capital access. ...
  • Traddoo [7 days] ...
  • Funded Trading Plus [7 days] ...
  • Smart Prop Trader [12 days] ...
  • Summary.
Feb 14, 2024

How do I choose a prop firm? ›

Don't just pick the first prop trading firm you find. Choose one with a good reputation, support for traders, good tools, safety measures, fair costs, and a friendly community. This way, you can trade smarter and have a better chance at success.

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