Top Trading Platforms for Prop Firms Compared [year] - Top Rated Fx Brokers (2024)

Let’s start by highlighting 3 of the best prop firms and the platforms they use:

  • FunderPro: This leading prop firm offers MetaTrader 5 as well as TradeLocker.
  • Topstep: Topstep offers access to Tradestation, TradeLocker, and TradingView.
  • FTMO: FTMO provides access to the MetaTrader platform and TradeLocker.

Comparing Top Trading Platforms for Prop Firms

Good trading platforms are important for prop trading. We’ll review the best platforms to help you decide.

PlatformDescription
TradeLockerChosen by prop traders for its easy-to-use interface and advanced features. It allows you to monitor trades, manage risk, and analyze performance across various asset classes.
MetaTrader 4 (MT4)Widely used and offers advanced charting, customizable indicators, and automated trading. It supports a variety of asset classes, making it a versatile option for prop traders.
MetaTrader 5 (MT5)Similar to MT4 but includes additional features such as support for more advanced order types and a built-in economic calendar and news feed.
cTraderPreferred by prop traders looking for a modern, web-based platform with advanced charting tools and customizable indicators.
NinjaTraderA powerful platform offering advanced charting and automated trading across various asset classes, but it may be challenging for beginners to use compared to other platforms.

Metatrader is Leaving the USA Prop Firms?

Prop trading firms in the United States are moving away from using MetaTrader 4 and 5 (MT4 and MT5) due to stricter regulatory environments. This shift has led many firms to adopt other trading platforms that are more compliant with US regulations. Additionally, platforms like cTrader have gained popularity among prop firms for their advanced charting capabilities and user-friendly interfaces.

When choosing a prop trading firm, it’s important to consider the trading platform they offer. A good platform should have a user-friendly interface, provide access to a wide range of asset classes and markets, and offer advanced features and tools to support informed trading decisions.

Platform’s interface and user-friendliness, the variety of assets and markets available, and the availability of advanced features and tools such as real-time market data, news feeds, and automated trading algorithms.

Each trader should research different firms and platforms to find one that aligns with their specific trading needs and goals, ultimately maximizing their potential for success in the prop trading industry.

Sources:

  • “MT4 & MT5 Are No Longer Available to New, Unlicensed Prop Trading Firms” – Atomiq Consulting
  • “What’s the deal with prop trading firms?” – Reddit
  • “Exclusive: Closed Prop Trading Firm ‘Leveled Up Society” – Finance Magnates
  • “Prop Trading: Fad or Future?” – Contentworks Agency
  • “Are Prop Firms Risky? Can I Lose Money in Prop Trading?” – Traders Union

TradeLocker is an alternative to MT4 and MT5 for prop firms. It’s a browser-based platform gaining popularity due to unique features.

What Will be the Alternative for Metatrader?

One of the favorites we stumbled upon seems to be TradeLocker that is easily crushing the competition.

Pros

  • Allows trading in micro lots, spreading risks in high-volume trading
  • Offers a mobile app for convenient trading anytime, anywhere
  • User-friendly interface makes it suitable for both novice and experienced traders
  • Social trading feature lets traders follow and copy successful traders’ trades

Cons

  • Lacks support for automated trading strategies
  • Offers fewer technical analysis tools compared to other platforms.
  • Relatively new platform

Reasons Why TradeLocker Stands Out for Prop Firms:

  • Comprehensive trading solution designed for traders, brokers and prop firms.
  • User-friendly interface suitable for traders at all levels.
  • Competitive pricing.
  • Customizable trading conditions.

Popular Trading Platforms Offered by Top 5 Prop Trading Firms in 2024

Check out some of the best platforms and firms offering them:

Prop Trading FirmTrading PlatformDescription
Funder TradingFT ProFunder Trading offers its proprietary trading platform, FT Pro, which is a web-based platform that allows traders to trade stocks and options. FT Pro provides traders with real-time data, advanced charting tools, and customizable layouts.
Apex Trader FundingApex TraderApex Trader Funding offers its proprietary trading platform, Apex Trader, which is a web-based platform that allows traders to trade futures, forex, and stocks. Apex Trader provides traders with real-time data, advanced charting tools, and customizable layouts.
Top One TraderT1 TradingTop One Trader offers its proprietary trading platform, T1 Trading, which is a web-based platform that allows traders to trade futures and forex. T1 Trading provides traders with real-time data, advanced charting tools, and customizable layouts.
SabioTradeSabio TraderSabioTrade offers its proprietary trading platform, Sabio Trader, which is a web-based platform that allows traders to trade futures, forex, and stocks. Sabio Trader provides traders with real-time data, advanced charting tools, and customizable layouts.
The5ersMT5The5ers offers its proprietary trading platform, MT5, which is a web-based platform that allows traders to trade forex. MT5 provides traders with real-time data, advanced charting tools, and customizable layouts.

Author Opinion

Proprietary trading can indeed be a lucrative opportunity in the financial markets. However, selecting the best prop firm trading platform is crucial for success. Factors to consider include fees, trading tools, and customer support. Reading reviews and conducting thorough research are also important steps in making an informed decision.

The ideal prop firm trading platform should offer low fees, robust trading tools, and exceptional customer support. By choosing the right platform, traders can enhance their prospects for success in the world of proprietary trading.

Top Trading Platforms for Prop Firms Compared [year] - Top Rated Fx Brokers (2024)

FAQs

Top Trading Platforms for Prop Firms Compared [year] - Top Rated Fx Brokers? ›

#1 – Funder Trading

Funder Trading stands first in our list of the top prop trading firms in 2024 due to multiple reasons but notably it is the only prop trading firm that offers options funding and includes coaching for every trader signed up.

What is the best platform to trade FX? ›

What are the top 10 forex brokers?
  • IG.
  • Plus500 (offers forex CFDs)
  • Saxo.
  • CMC Markets.
  • TMGM.
  • FXCM.
  • StoneX (FOREX.com and City Index)
  • Pepperstone.
Mar 30, 2024

What is the most trusted prop firm in 2024? ›

#1 – Funder Trading

Funder Trading stands first in our list of the top prop trading firms in 2024 due to multiple reasons but notably it is the only prop trading firm that offers options funding and includes coaching for every trader signed up.

What platform do professional forex traders use? ›

The MT4 platform is the go-to for forex traders and provides a wide range of indicators, chart types, and timeframes. You can also access the MetaTrader Marketplace for customized indicators and algorithmic trading strategies.

What is the largest FX platform? ›

ADVT-based Ranking List
Largest BrokerADVT (Billion USD)Regulation
IC Markets29ASIC, CYSEC
Saxo20.1ASIC, FCA, FSA, AMF, CONSOB, FINMA, MAS
Forex.com18.6NFA, ASIC, FCA, FSA, IIROC, CIMA (offshore), MAS
XM16.08CYSEC, ASIC, FSC (offshore), DFSA
6 more rows

How do I choose an FX broker? ›

Each forex broker has different account offerings. Here are four areas to consider when comparing features among brokers: leverage and margin; commissions and spread; initial deposit requirements; and ease of deposits and withdrawals.

Which is the most trusted prop firm? ›

Best Prop Trading Firms 2024 - Reviewed by Experts
  1. Topstep: A Leader in Trading Innovation. ...
  2. The 5%ers: Forex Trading with a Twist. ...
  3. Earn2Trade: Empowering Aspiring Traders. ...
  4. SurgeTrader: A Gateway to Diverse Trading Assets. ...
  5. FTMO: Stringent Yet Rewarding. ...
  6. E8 Funding: Innovative and Flexible.
Feb 2, 2024

Which prop firm is the best in USA? ›

Quick Look: Best Prop Trading Firms
  • Best for Beginner Futures Traders: Apex Trader Funding.
  • Best for Experienced Traders: FXIFY.
  • Best for Stock Traders: Trade the Pool.
  • Best for Experienced and Beginner Forex, Indices and Metal Traders: The 5ers.
  • Best for All Futures Traders: BluSky.

Is FTMO the best prop firm? ›

FTMO is one such prop trading firm that offers funding to traders. They provide traders with the opportunity to trade their own capital, as well as access to additional capital from FTMO. This means that traders can potentially earn a higher profit while still having the support and resources of a prop firm.

Why is FTMO banned in 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.

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

Which prop firms use TradingView? ›

Top Forex Prop Firms that Utilize Tradingview
  • TopstepFX.
  • The5%ers.
  • FTMO.
  • Maverick Trading.
  • Blue Point Trading.
  • OneUp Trader.
  • City Traders Imperium.
  • Earn2Trade.
Jan 19, 2024

How much money do day traders with $10000 accounts make per day on average? ›

With a $10,000 account, a good day might bring in a five percent gain, which is $500. However, day traders also need to consider fixed costs such as commissions charged by brokers. These commissions can eat into profits, and day traders need to earn enough to overcome these fees [2].

Which forex broker does FTMO use? ›

You can trade your FTMO Challenge, Verification, and FTMO Account on some of the most popular retail platforms – MetaTrader 4, MetaTrader 5, DXtrade, or cTrader.

What broker do pros use? ›

Best for professionals - Interactive Brokers

Though IBKR is also one of the lowest-cost brokers I tested when all costs are considered, I also found it to be one of the most restrictive about which products I was allowed to trade, and Trader Workstation is one of the most complex platforms to navigate.

What is the easiest forex trading platform? ›

Which are the top forex brokers for beginners in the world?
  • Forex.com - Low forex fees. Great variety of currency pairs. ...
  • eToro - Free stock and ETF trading. ...
  • Interactive Brokers - Low trading fees and high interest on cash balances. ...
  • IG - First-class web trading platform. ...
  • Oanda - Great trading platforms.

Is FX trading platform legit? ›

In conclusion, forex trading can be a legitimate and profitable form of investment, but it is important to be aware of the potential for scams. By being vigilant and taking the necessary precautions, you can protect yourself from falling victim to a forex scam. Stay informed and stay safe in the world of forex trading.

How to trade FX online? ›

a FX brokerage account, the overall steps are largely the same.
  1. Step 1: Research and select a broker. ...
  2. Step 2: Open a forex trading account. ...
  3. Step 3: Verify your identity. ...
  4. Step 4: Fund your forex account. ...
  5. Step 5: Research currencies and identify trading opportunities. ...
  6. Step 6: Size up your first forex trade.

What is the easiest way to trade forex? ›

For beginners, an automated trading program is considered the best way to break into forex trading, at least until there is a greater level of comfort with trading procedures. However, there's no guarantee that you'll make a profit due to the volatile nature of currency markets.

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