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Written By
G. Dautovic
Updated
February 02,2024
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Proprietary or prop trading is an increasingly popular investment method, and plenty of firms are joining this rising sector of the industry. In this form of trading, financial firms profit from market activity, rather than commissions on client trades. If you can trade successfully and follow market trends, these companies will speed up your journey toward financial independence.
Traders on prop platforms trade in cryptocurrencies, fiat currencies, stocks, bonds, commodities, and other financial instruments. Finding a platform that deals in assets that are up your alley, under conditions that suit you, can be challenging. To help out, we’ve compiled a list of best prop trading firms for you to choose from.
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Top Prop Trading Firms for February 2024
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The 5%ers
5 stars Our Rating
Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.
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The 5%ers
5 stars Our Rating
Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.
Tradable assets: Forex, Crypto, Indices, Stocks, Precious metals
Profit split: Up to 100%
Evaluation: Yes
Refundable registration fee: Yes (with High-Stakes program)
Trading platforms: MetaTrader 5
Leverage: Up to 1:100 (with High-Stakes program)
Price: From $39
Maximum capital: $4,000,000
KEY FACTS
OVERVIEW
ABOUT THE COMPANY
- Several account models
- Instant funding
- Rich selection of trading tools
- Monthly salary
- Bonuses
- Faster scaling plan in the industry
- Unlimited time on all programs
The company, founded in 2016 by Gil Ben Hur, experienced significant growth when it started fostering a community of traders who managed capital from other investors. With more joining and learning from the basis established by Gil, The5ers began expanding into a community for exchanging knowledge and sharing successful methods for trading.
At the time of writing, it’s one of the online prop trading firms focused on forex trading, but it also supports trading with securities such as cryptocurrencies, stocks, and precious metals. The most prominent forex trading pairs found on the platform are EUR/USD, GBP/USD, USD/JPY, USD/CAD, AUD/USD, NZD/USD, and USD/CHF.
The platform includes challenges that offer better opportunities for traders who complete them. For example, you can get access to a better account with no risk of extra charges.
The Bootcamp program lets traders complete three challenge phases and then get access to a six-figure trading account, with a profit split of 100% for the highest tiers of account sizes.
With the Hyper Growth program, you get bonuses as extra rewards for your performance, while doubling your account with each target reached and being able to withdraw your share after the first phase of the program.
Recently, the company launched its new High-Stakes program which gives traders a chance to earn a $10,000 monthly salary with the highest leverage available and the industry-lowest entry price of $39.
The5ers are one of the fastest-growing forex prop firms and includes plenty of opportunities for traders worldwide. It’s run by professional traders who aim to provide the opportunity to use capital funds and start earning to all aspiring candidates.
The company has been operational since 2016 and has garnered quite a bit of positive sentiment from its user base, with an excellent 4.8 Trustpilot rating as of the time of writing of this review.
Topstep
4.7 stars Our Rating
Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.
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Topstep
4.7 stars Our Rating
Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.
Tradable assets: Futures
Profit split: 100% on first $10,000 and then 90%
Evaluation: Yes
Refundable registration fee: No
Trading platforms: TSTrader, Quantower, Sierra Chart, T4, MotiveWave and more
Leverage: Up to 1:100
Price: From $49
Maximum capital: $150,000
KEY FACTS
OVERVIEW
ABOUT THE COMPANY
- Futures trading
- Digital coaching
- Buying power up to $150,000 for futures
Topstep is one of the best prop trading firms for futures traders. This provider welcomes both experienced traders and beginners and helps them develop healthier trading habits. Topstep’s support traders are experts and are at your disposal to help you achieve your financial goals.
Since Topstep is a place for full-time traders and enthusiasts, the platform has several accounts for futures trading. This means that you’ll be able to choose among accounts with various buying power, ranging from $50,000 to $150,000. The accounts also vary in terms of profit targets, maximum drawdown and loss limits. The daily loss limit starts at $2,000 for the smallest account and goes up to $4,500 for the $150k account. Of course, there is an evaluation process that you need to pass in order to get a real trading account at this company, but keep in mind that the company doesn't offer a refundable registration fee.
Topstep is also one of the best proprietary trading firms for beginners because it features various educational resources and support. Group Coaching is a program led by professional traders, and it’s designed for those who wish to learn how to trade smartly and improve their individual performance. There’s also Digital Coaching, a real-time trading guide that helps you set up your trading plan and achieve trading goals faster.
Topstep is a Chicago-based company founded in 2012, which hosts traders from 143 countries. Since 2020, Topstep’s users withdrew more than $10 million in funded trader payouts. The company has an excellent 4.4/5 score on Trustpilot, and has been featured on the Inc. Magazine’s 5,000 list of the fastest-growing private companies in the US.
FTMO
4.5 stars Our Rating
Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.
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FTMO
4.5 stars Our Rating
Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.
Tradable assets: Forex, Indices, Commodities, Stocks, Cryptocurrencies, Bonds
Profit split: Up to 90%
Evaluation: Yes
Refundable registration fee: Yes
Trading platforms: MetaTrader 4, MetaTrader 5, cTrader
Leverage: 1:100
Price: From $155
Maximum capital: $400,000
KEY FACTS
OVERVIEW
ABOUT THE COMPANY
- 90:10 payout ratio
- Free mobile app
- Unlimited trading period
FTMO is a prop firm that offers a whopping $400,000 of trading capital to its legitimate traders. To become an FTMO trader, you need to complete a two-step evaluation process.
The first step is the FTMO Challenge, during which the company checks your trading skills. The second and final step is Verification after which you become an official trader at FTMO.
For less experienced traders, FTMO offers video tutorials to help them learn how to use the platform and get familiar with forex trading. Additionally, all traders can participate in webinars where they can learn about advanced trading strategies from their experienced counterparts.
FTMO is one of the best forex prop trading firms thanks to the 90:10 payout ratio, which translates into traders receiving 90% of the profits. Once you pass the evaluation stage and set up your FTMO Account, your trading period is indefinite, and there’s no profit target.
Furthermore, traders get access to the most popular retail trading platforms, including MT4, MT5, and cTrader. You can trade a wide range of proprietary assets - hundreds of forex pairs, metals, equities, and cryptos. Payment options include bank transfers, debit/credit cards, Skrill, Nuvei, and PayU.
FTMO also offers a free trial account similar to the FTMO Challenge. This is a great way to get a better sense of what this proprietary trading firm has to offer before signing up for an official proprietary account and paying fees.
FTMO has been operational since 2014. The company is based in Prague and is generous with the capital it provides to traders. Unlimited 24/7 customer support via phone and live chat, coupled with plenty of online materials, and webinars make this company one of the best options for proprietary trading.
FX2 Funding
4.5 stars Our Rating
Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.
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FX2 Funding
4.5 stars Our Rating
Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.
Tradable assets: Forex, Indices, Crypto
Profit split: Up to 85%
Evaluation: Yes
Refundable registration fee: Yes
Trading Platforms: Eightcap MT4, Eightcap MT5
Leverage: Up to 1:100
Price: From $95
Maximum Capital: $1,000,000
KEY FACTS
OVERVIEW
ABOUT THE COMPANY
- One-stage evaluation
- No time limits
- No stop loss required
- Doesn't require credit checks or collateral
FX2 Funding offers five different funded account types, ranging from the Starter account with $10,000 in live funded capital to the Master account with $200,000. All five accounts have a profit split of up to 85%, and a refundable evaluation fee that ranges from $95 for the Starter account to $1,800 for the Master account.
FX2 is one of the best prop trading platforms for experienced but undercapitalized traders, as the company provides real money funding to all traders and features a simple one-stage evaluation process. After netting a 10% profit on the account balance, you will get funded, and you can also scale up your account size by 10%, up to the set limit of $1,000,000. The daily drawdown is set at 4%.
FX2 Funding offers trading in Forex, indices, and cryptocurrencies, and the company’s open-arms approach also means that traders are allowed to use scripts, indicators, EAs, copy traders, and scalping to generate profits, as well as to trade on all news events. The first payout becomes eligible 7 days after being funded, with all subsequent payouts becoming available every 14 days after. As FX2 partners with the regulated Australian broker Eightcap, all payouts are processed through Deel.com, and you can transfer funds via bank transfers, Revolut, PayPal, Wise, Binance, Payoneer, and Coinbase.
FX2 Funding launched at the start of 2023 with the goal of revolutionizing the prop trading industry and creating a platform that puts traders first. The US-based company has chosen to shake up market trends by providing the most simplified and welcoming proprietary trading space, with a streamlined evaluation process and openness to traders of all types.
Fidelcrest
4.8 stars Our Rating
Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.
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Fidelcrest
4.8 stars Our Rating
Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.
Tradable assets: Forex, Cryptocurrencies, Commodities, Indices, Metals and Stocks
Profit split: Up to 90%
Evaluation: Yes
Refundable registration fee: Yes
Trading platforms: MetaTrader4, MetaTrader5
Leverage: Up to 1:100
Price: From $99
Maximum capital: $1,000,000
KEY FACTS
OVERVIEW
ABOUT THE COMPANY
- Traders get up to 90% of profits
- $15,000 initial capital
- No monhtly fees
Fidelcrest made it onto our list of proprietary trading firms because of its dedication to finding and educating talented traders. Fidelcrest is not a broker, nor does it offer retail broker accounts.
It’s a prop firm on a hunt for traders who will trade forex, commodities, precious metals, cryptos, and other assets. Overall, there are more than 175 instruments with commissions and spreads created for proprietary trading, on both MT4 and MT5 trading platforms.
To become a Fidelcrest trader, you have to complete the two-phase evaluation program. There are two trading programs to choose from - Micro Trader and Pro Trader. With Fidelcrest’s Micro program, you can trade an account balance that ranges from $15,000 to $60,000.
The trading period is 60 days, and the trader gets 80% of the profit share. The maximum loss allowed is 10%, and a maximum daily loss allowed is 5%. If you want to increase your profits to 90%, you can choose one of the Micro Aggressive Swing accounts, which increase the profit targets to 15% for both phases of the evaluation process (10%/5% for the Micro Trader Normal).
Meanwhile, the company’s prop trading program for pros allows you to trade accounts between $250,000 and $1,000,000 with a maximum allowed loss of 10% (20% with the aggressive account type). The profit share is 80% (90% with aggressive).
Regardless of the program you choose, you’ll need to pass the evaluation and pay the participation fee. Fidelcrest will refund the fee to your bonus wallet, and there will be no additional monthly or fees of any kind.
To ensure a refund you need to use the promo code “REFUND” when applying for the evaluation process. Refundable fees are available only for traders who don’t use any discount.
Founded in 2018 in Cyprus, Fidelcrest is another great place if you want to become a proprietary trader. This company was created and led by a team of experts for forex trading. Fidelcrest currently has over 6,000 traders from more than 170 countries worldwide, and holds an overwhelmingly positive 4.6 rating on Trustpilot. The rising prop firm was aslo crowned as the Best Micro Forex in Europe at the Forex Expo 2021.
FundedNext
4.8 stars Our Rating
Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.
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FundedNext
4.8 stars Our Rating
Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.
Tradable assets: Forex, Indices, Commodities
Profit split: Up to 90%
Evaluation: Yes (with the Evaluation model)
Refundable registration fee: Yes
Trading platforms: MetaTrader4, MetaTrader5
Leverage: Up to 1:100
Price: From $49
Maximum capital: $4,000,000
KEY FACTS
OVERVIEW
ABOUT THE COMPANY
- 15% profit share from the start
- High profit split
- An account manager for every trader
- Relaxed trading rules
Traders can expect to get up to $200,000 in funds from FundedNext if they opt for the biggest Evaluation package. The company works with Forex, indices, and commodities, and you can earn a 15% profit immediately, even during the assessment phase, regardless of the model you choose.
Like most of the Forex prop trading firms we’ve reviewed, FundedNext has a model that includes evaluation. The Evaluation model lets traders prove their trading abilities in two phases, both of which offer a 90% share of the profit.
On the other hand, the Express model sets a profit target with no time limit; once you hit it, you can start with a 60% split that can rise to 90%. Traders can try different trading styles such as intraday and swing trading, scalping, and much more. So long as your growth stays above 25% and your overall losses don’t surpass 10% of your trading, you’ll be on the growth path with FundedNext.
Still, what makes FundedNext one of the best indices, commodities, and forex trading prop firms is the Dedicated Account Manager for every trader. And if your performance is consistently good, you’ll be rewarded with a scaleup plan of a 40% increase in account balance every four months, capped at $4 million.
Your journey with FundedNext can start in just three simple steps: Pick your funding model, remain profitable, and get funded. For easier access while you’re on the go, you can download the FundedNext iOS or Android app. For any help you might need along the way, there’s a live chat, email, FAQ section, educational blog posts, as well as Discord, Telegram, and Facebook communities.
FundedNext is a brand new international proprietary platform with offices in multiple countries, including the USA, UAE, UK, and Bangladesh. The company provides a variety of assets with very low commissions and spreads, and has over 51 thousand funded traders with more than $50 million in payouts already. With FundedNext, all of the trader's funded accounts are held by a partner broker company, Eightcap, which is regulated by ASIC and guarantees the safety of your funds. The 4.7 score on TrustPilot works in FundedNext’s favor, too.
The Trading Pit
4.7 stars Our Rating
Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.
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The Trading Pit
4.7 stars Our Rating
Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.
TRADABLE ASSETS: CFDs and Futures
PROFIT SPLIT: Up to 80%
EVALUATION: Yes
REFUNDABLE REGISTRATION FEE: Full refund
Trading platforms: MT4, MT5, Bookmap, Quantower, R | Trader
Leverage: 1:30 for CFDs
Price: From $99
Maximum capital: $5,000,000
KEY FACTS
OVERVIEW
ABOUT THE COMPANY
- Four tools and four platforms supported
- Up to $320,000 payout for CFD trading
- Progressive payout increase
- No hidden fees
- Low latency and transactional costs
- FREE trading platforms
- No time boundaries
- In-depth mentorship and educational support
- Cross-platform compatibility
What sets The Trading Pit apart from other top platforms for prop trading is its unique level structure. There is no minimum deposit required or complicated and hidden fees to calculate. Instead, trading is organized into opt-in Challenge plans. With every target hit, traders advance to the next level where they are given more contracts, larger drawdown limits, and bigger payouts, which are integral to the company's ambitious $5 million scaling plan.
The Trading Pit caters to brokers of all levels. Beginners can gradually learn how to create better plans and forecasts, trading with significant funds while investing only a fraction of the amount provided by the company, lowering the financial risk. Veterans, on the other hand, can take a skill test, bypass the lower levels, and enjoy similar benefits as beginners but with higher payouts.
In addition to financial support, The Trading Pit offers a comprehensive knowledge library with manuals for tools and platforms, webinars, videos, podcasts, and ebooks. These resources are designed to help traders achieve their trading goals.
To support the diversity of contracts traded and the unique requirements of each Challenge plan, The Trading Pit accommodates a broad range of tools and trading platforms. Depending on the types of contracts traded and the Challenge plan chosen, The Trading Pit offers a wide variety of tools and trading platforms for your workstation, including the Economic Calendar, CME Heatmap, Squawkbox, ATAS, Bookmap, and Volumetrica, among others. These resources create an invaluable workstation that helps traders navigate the intricacies of the financial markets effectively.
In conclusion, The Trading Pit presents a unique, accessible opportunity for proprietary trading. They offer a well-rounded package with low entry requirements, a comprehensive support network, and a generous opportunity for profit. Their goal is to democratize access to trading, provide substantial capital, and offer comprehensive educational resources and robust support to help traders succeed in the financial markets.
In 2021, two financial experts, Illimar Mattus and Christoph Radecker, decided to combine their three and a half decades of experience to create a trading platform. The result is The Trading Pit - a prop trading firm that attracts beginner and veteran traders alike with its small access fee, the opportunity to learn new skills, and access to a large support network. Today, The Trading Pit has traders at all levels of expertise from more than 160 countries globally.
Funding Traders
4.5 stars Our Rating
Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.
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Funding Traders
4.5 stars Our Rating
Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.
TRADABLE ASSETS: Forex, Indices, Stocks, Metals, Crypto
PROFIT SPLIT: Up to 100%
EVALUATION: Yes
REFUNDABLE REGISTRATION FEE: Yes
TRADING PLATFORMS: FXCH
LEVERAGE: Up to 1:100
PRICE: From $50
MAXIMUM CAPITAL: $2,000,000
KEY FACTS
OVERVIEW
ABOUT THE COMPANY
- 25% growth scaling plan every 3 months
- Knowledge hub and community support
- Account merging allowed
- Permits news trading
- Unlimited trading period
With an emphasis on community, learning, and empowering, Funding Traders sets itself apart from other proprietary trading firms. Their mission is to discover and enrich new traders with enough knowledge and funds and thus create a mutually beneficial relationship with traders where everyone profits.
Traders get enough funds for successful large-scale trading while the company gets another valuable member.
In order to become Funding Traders partners, traders first have to complete either a 1-step or 2-step challenge in order to prove they are a good fit for the company. Both challenges have a 10% profit goal, an unlimited trading period, and a minimum of 1 trading day.
The only differences are the maximum account balance loss of 5% and 10%, and the maximum daily loss of 4% and 5% for 1-step and 2-step respectively. traders that choose a 2-step challenge will also have to complete a verification challenge where they'll have to meet a profit target of 5%, maximum account balance loss of 10% maximum daily loss of 5%.
The variety of plans is not the only factor that makes Funding Traders one of the best funded trader programs. Traders that pass the challenge will get access to their funds, Funding Traders large and helpful community of experienced traders, and a knowledge hub with all the necessary material for building a successful trading career.
When it comes to account types, traders can choose between 6 basic and 4 premium plans, all depending on the fee and available funds. Their smallest plan will net traders $5,000 in funding for a $50 fee. On the other hand, their largest plan called "Apex" can get traders $2,000,000 in funding, but with a slightly longer and more difficult challenging process.
All in all, the variety of plans and challenges, helpful online community, and a large resource hub make Funding Traders one of the most exciting prop trading firms on the market right now.
Founded in 2023 by a Wall Street professional by the name of Stan G., Funding Traders is a prop trading firm that aims to empower new aspiring traders by giving them access to necessary funds.
In addition to capital, Funding Traders also provides prospective traders with the knowledge base required for successful trading as well as access to a vibrant and helpful community of traders.
Today, Funding Traders operates on forex, indices, stocks, metals, and crypto markets and aims to establish a mutually beneficial relationship with their traders in which everyone profits.
SabioTrade
4.3 stars Our Rating
Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.
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SabioTrade
4.3 stars Our Rating
Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.
TRADABLE ASSETS: Forex, Stocks, Indices, ETFs, Commodities, and metals
PROFIT SPLIT: Up to 90%
EVALUATION: Yes
REFUNDABLE REGISTRATION FEE: No
TRADING PLATFORMS: QuadCode
LEVERAGE: Up to 1:100
PRICE: From $50
MAXIMUM CAPITAL: $200,000
KEY FACTS
OVERVIEW
ABOUT THE COMPANY
- News trading allowed
- Unique prop trading environment with integrated traderoom
- 7-days trial
- Free trading signals, training & educational materials
- No limits on payouts
- Fast 1-step assessment
What sets apart SabioTrade from other prop trading firms is the variety of pricing plans. SabioTrade offers four plans to up-and-coming traders who wish to join their community: Standard, Premium, Gold and Platinum with prices of $50 for Standard, $289 for Premium, $479 for Gold and $939 for Platinum.
Although the starting fee isn't refundable, there are no commissions, making this the only amount you need to pay to trade with SabioTrade. All four plans offer up to 30:1 leverage for trading forex and 100:1 for indices, a profit target of 10%, a daily loss limit of 3%, and a maximum trailing drawdown of 6%.
Where they differ are profit payouts and the account balance. The Standard plan has a profit payout of 70% and an account balance of $10,000. Premium plan can net you 80% of profits with an account balance of $50,000.
The Gold plan carries the same profit percentage, but comes with $100,000 in account balance, while Platinum offers a 90% profit split and an account balance of $200,000.
Like otherproprietary trading firms, SabioTrade will ask you to prove your skills and knowledge by completing an assessment. They also offer a free trial account for users who want to try out their services first before committing to assessment.
All trade is realized through the QuadCode platform and users will also get access to the proprietary SabioDashboard which is updated every 60 seconds.
As for additional rules, it's important to note that SabioTrade allows news trading but forbids you from holding positions during the weekend: all trades have to be completed by Friday at 3:45 PM EST.
Lastly, all traders are obliged to place at least one trade in 30 days.
Since its founding in 2021, SabioTrade has been on the lookout for talented traders who lack funds. Their aim is to create a mutually beneficial relationship with dealers; while prospective traders get to use their rich portfolio, SabioTrade in return gets to employ knowledgeable experts.
Today, this proprietary trading firm gathers a large number of traders and dealers who share their collective experience and educate newcomers. The best proof is their TrustPilot rating of 4.2/5 and testimonies of users who emphasize their large funds, affordability, and flexibility.
Darwinex Zero
4.5 stars Our Rating
Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.
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Darwinex Zero
4.5 stars Our Rating
Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.
Tradable assets: Forex, CFDs, Commodities, US stocks, ETFs
Profit split: 15%
Evaluation: No, start trading immediately
Refundable registration fee: No
Trading platforms: MetaTrader4, MetaTrader5
Leverage: Up to 1:10
Price: $95 initial fee, then $38 per month
Maximum capital: $500,000
Key Facts
Overview
About the company
- No limitation rules (no min/max drawdown - no max loss)
- Monthly capital allocation (even in negative months)
- Available to traders worldwide
- External investor funding
Darwinex Zero is a first-of-its-kind subscription service, with a $38 monthly fee and a $95 sign-up commission. The D-Zero journey starts at the training stage for every new trader, in which the Darwinex proprietary risk engine evaluates and calibrates your virtual trading skill for a minimum of 10 trading days.
After this initial evaluation stage, your personal DARWIN will be created and you will move to the DarwinIA Silver, a monthly seed capital allocation programme where you will compete against other DARWINs to earn allocations of between $25,000 and $250,000 and the chance to keep 15% of the profits you generate in performance fees. Once you become eligible for the DarwinIA Gold stage, the allocation limit is increased to $500,000, and you can test your strategy against other elite managers in order to gain access to investor capital. The Gold stage also allows you to sell your DARWIN strategy to external investors and build your own brand as an asset manager in order to leverage outside capital to you.
D-Zero allows you to trade in Forex, CDFs, Commodities, US Stocks and ETFs, with trading in Futures coming soon. The company offers trading on MT4 and MT5 platforms, and there are dedicated apps available for both iOS and Android users. Darwinex Zero also features some of the most in-depth analytics tools and features, and is available to users worldwide, including those from countries like USA and Japan, who cannot trade on the Darwinex Classic trading account.
Darwinex Zero is a revolutionary subscription-based service launched in 2023 by the trading and asset management company Darwinex. This is not a standard prop-trading platform, and D-Zero instead acts as sort of a scouting system where traders prove themselves and their strategies in order to gain access to seed capital from Darwinex’s regulated asset management sisters. This unique service is therefore best-suited to those traders that seek to build a sustainable medium to long track record, and should not be looked at as a short-term solution.
Trade The Pool
4.6 stars Our Rating
Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.
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Trade The Pool
4.6 stars Our Rating
Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.
TRADABLE ASSETS: Stocks, ETFs
PROFIT SPLIT: Up to 80%
EVALUATION: 1-Step Evaluation
REFUNDABLE REGISTRATION FEE: No
TRADING PLATFORMS: Trader Evolution
LEVERAGE: 1:100
PRICE: From $97
MAXIMUM CAPITAL: $260,000
KEY FACTS
OVERVIEW
ABOUT THE COMPANY
- First specialized stock trading prop firm
- 1-step evaluation
- One-time fee
- Over 12,000 symbols to trade with
- Allows shorting penny stocks
Trade The Pool (TTP) is the first specialized stock prop trading firm on the market, with over 12,000 stocks and ETFs available to trade with. The company was built around providing a tailored experience with numerous unique features tailored to stock prop traders, such as Reset/Bypass or the Growth (Pump/Dump) feature. Trade The Pool also allows for shorting of penny stocks, and its programs come with a 30-day free trial to Tradersync, Tradervue and Stock Traders Daily.
The company also partners with Trade-Ideas, TrendSpider and Bookmap to provide a 30-day free trial for their services on all TTP evaluation programs except Mini Buying Power. This beginner-friendly account plan starts with a one-time fee cost of $97 and offers a buying power of $20,000, while the most expensive, Ultimate Buying Power program comes with a $1,240 fee and offers the buying power of $260,000.
There are also two additional options available to customers, the Super Buying Power program, and the Extra Buying Power program, costing $300 and $475 respectfully. Trade The Pool allows you to opt-in for a 14-day free trial where you can test out the platform without risking your money.
The company uses the proprietary trading platform called Trader Evolution, build specifically for professional traders, with unique features that every stock prop trader will use daily, such as scalper window, scanners, market depth and super DOM (depth of market), while also allowing a great deal of customization options and support for various trading strategies.
Trade The Pool is owned by Five Percent Online LTD, which also created and operates the industry-leading proprietary trading firm The5ers. As with The5ers, which was built to be the premiere Forex trading proprietary trading firm, Trade The Pool was created to provide the best possible platform available to traders who want to specialize in stock trading.
The company is incorporated and registered in the United Kingdom, with headquarters in Israel.
SurgeTrader
4.4 stars Our Rating
Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.
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SurgeTrader
4.4 stars Our Rating
Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.
Tradable assets: Forex, Equities, Major stock market indices, Oil, Metals, Cryptocurrencies
Profit split: Up to 90%
Evaluation: Yes
Refundable registration fee: No
Trading platforms: Eightcap M4, Eightcap M5
Leverage: 50:1 on FX and metals
Price: From $250
Maximum capital: $1,000,000
KEY FACTS
OVERVIEW
ABOUT THE COMPANY
- Quick processing times
- Several pricing tiers
- Diverse selection of trading securities
To become a trader, you need to pass the SurgeTrader Audition and funded traders need to meet a few simple requirements. For starters, there is a 10% profit target, and you’ll need to stay below the daily loss limit of 5% and the maximum drawdown of 5%.
The starter account comes with a non-refundable $250 audition fee and a $25,000 initial balance. Unlike other companies, this prop trading firm doesn’t impose minimum trading days or a 30-day assessment period. It allows traders to keep 75% of their profit share. The trading capital limit is $1 million, depending on the trading account you choose.
As a SurgeTrader broker, you can trade various securities, including forex, stocks, equities, oil, and metals. Moreover, SurgeTrader is a good place for trading cryptocurrency products. SurgeTrarder operates on two platforms - Eightcap M4 and Eightcap M5. It also allows news trading.
SurgeTrader has an easy-to-use trading dashboard with useful analytical tools and features. As a SurgeTrader, you can access trade analytics in real-time and improve your trading performance. Before you decide to start the SurgeTrader Audition, you can test out the platform for free.
Thanks to the availability of the free trial, you can check your trading skills and whether you are good enough to join this proprietary trading company.
Launched in 2021 and based in Florida, SurgeTrader is one of the newest proprietary trading firms on the market. It offers a variety of trading instruments, including stock market indices, forex, metals, oil, and cryptocurrencies. The company holds a strong 4.6 rating on Trustpilot from well over 600 reviews.
Liberty Market Investment
4 stars Our Rating
Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.
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Liberty Market Investment
4 stars Our Rating
Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.
Tradable Assets: Futures
Profit Split: Up to 100%
Evaluation: Yes
Refundable Registration Fee: No registration fee
Trading Platforms: VolFix
Leverage: Up to 1:100
Price: From $140
Maximum Capital: $150,000
KEY FACTS
OVERVIEW
ABOUT THE COMPANY
- 100% profit on the first $30,000
- No registration fees
- Wide selection of futures exchanges
- Trader tournaments
Liberty Market Investment has one of the best funded trader program choices in the proprietary trading space in 2023. With $150,000 in account size, and a 100% profit split on the first $30,000 in profits, along with the fact that you can have up to three Funded Session accounts at the same time, the LMI platform is an overall great space for experienced prop traders.
The company has one exclusive trading platform, and that’s VolFix, through which you can track your history and statistics, and adjust your strategy for better profits. There are also trader competitions featured on the platform, and a wide variety of futures exchanges to trade at.
The Liberty Market Investment evaluation program structure stands out from the competition on the prop trading market as well, featuring two different paths toward becoming a funded prop trader. You can either go through the 1-Stage evaluation process called the Qualifying Pro Session, or you can opt for a safer but slower approach with the 2-Stage Program called Practice Session & Qualifying Session.
Both of these evaluation programs have their own benefits and drawbacks, but they lead to the same Funded Session account.
Founded in 2108, Liberty Market Investments is a UK-based prop trading company with headquarters in London. The firm focuses on trading in futures on US and EUREX exchanges, with more than a hundred instruments on offer, including forex, commodities, cryptocurrencies, agricultural and interest rate futures.
LMI was built around the idea of providing the most transparent and user-friendly recruitment programs for beginner and experienced traders alike, along with some of the highest profit splits on the market.
City Traders Imperium
4 stars Our Rating
Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.
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City Traders Imperium
4 stars Our Rating
Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.
Tradable assets: Forex, Commodities, Stocks, Crypto
Profit split: 90%
Evaluation: Yes (skip it with the Direct Funding Program)
Refundable registration fee: No
Trading Platforms: MetaTrader 5
Leverage: Up to 1:33
Price: From $59
Maximum capital: $2,000,000
KEY FACTS
OVERVIEW
ABOUT THE COMPANY
- Free course before enrolling in the Evaluation program
- Well-known for trading forex pairs
- Online material for traders
As one of the market’s top proprietary trading firms, City Traders Imperium is best-known for offering direct funding that can go up to $100,000. Hundreds of reviews on Trustpilot and a 4.8 rating only serve to confirm our positive assessment of its spreads, exceptional customer support, and useful online material for brokers.
Like other companies in this line of work, City Traders Imperium has a two-phase evaluation program that you must complete successfully in order to become a trader.
It takes up to one year to complete. This is because the company understands how important it is to lead candidates slowly through the process and offer them the biggest chances for success. Profit targets for phase one and two are 10% and 5%.
Another great thing about this firm is that you can completely skip the Evaluation and start trading as a Portfolio Manager right away. You just need to choose the Direct Funding program. This firm offers scalable trading plans with up to 100% of profit share going to the trader.
When it comes to the assets that you can trade, City Traders Imperium is among the most popular prop firms for forex. There are dozens of forex pairs that you can trade, but you can also trade gold and indices. And as of recently, the company also allows trading in cryptocurrencies.
City Traders Imperium offers a free course for future traders. The course is designed to help traders pass the evaluation procedure.
Founded by Daniel Martin and Martin Najat, City Traders Imperium is another great prop firm. The company has been around since 2014, offering traders the facilities to trade forex, indices, and gold. The company is praised by customers for its excellent and empowering courses that help traders become real professionals. Based in London, City Traders Imperium offers excellent trading benefits once you become a Portfolio Manager.
Quick Breakdown
Best Prop Firms of 2024 - Our Picks:
The 5%ers - Most secure platform
FundedNext - Highest profit split
Topstep - Best for Forex traders
Fidelcrest - Best for experts
FTMO - Best for instant funding
What Is Proprietary Trading?
Proprietary trading firms have etched a unique space within the financial tapestry. These entities diverge from the traditional financial institutions in their operational approach.
Instead of handling and investing clients' assets, they wield their own capital to speculate on financial markets and recruit professional traders to trade with the company's funds.
Their modus operandi is simple: profit from market movements directly, bypassing the commission-centric and more regulated model of standard brokerages.
Traders who pass the training or evaluation stages and get to trade with funded accounts are rewarded with a 50-90% profit split from their earnings, and in recent times some prop firms have also started awarding bonuses and monthly salaries to their best-performing traders.
Proprietary trading is speculative by nature, and comes with high risk, so there are strict rules and strategies that traders can follow and employ in order to manage this risk, including volatility arbitrage, global micro-trading, merger arbitrage and more.
Advantages of Prop Trading Firms
Prop trading bring a number of unique benefits to the table:
- Capital Empowerment: One of the standout benefits of prop trading firms is the access to substantial capital. This allows traders, even those with limited personal funds, to take on significant market positions, amplifying their profit potential.
- State-of-the-Art Technology: Prop firms are technology-driven entities, equipping traders with sophisticated analytical tools and modern trading platforms. The drive to edge out any sort of advantage is paramount, which is why more than two thirds of prop firms invest in consistent technological upgrades.
- Continuous Learning Environment: Proprietary firms are not just about trading; they're about nurturing talent. They offer comprehensive training modules, mentorship opportunities, and a culture that emphasizes continuous learning. Some 75% of traders note these training programs as instrumental to their success in the business.
- Access to Diverse Markets: Prop traders usually aren't limited to a specific market or instrument. Numerous proprietary trading firms provide traders with the opportunity to implement diverse strategies across an extensive array of financial markets. This includes foreign exchange (forex), futures contracts, commodities, precious metals, and the burgeoning realm of digital currencies. In fact, a recent study by Acuity has shown that 84% of prop firms are currently trading in crypto derivatives.
- Leverage and Liquidity: Prop firms provide traders with significant leverage, allowing them to maximize their market positions. Additionally, with their vast inventory of securities, traders can execute trades even in illiquid market conditions.
- Attractive Compensation Structures: The profit-sharing models in prop trading firms can be incredibly lucrative. Some have recently upped their game even further and are offering profit splits of up to 100% to their most successful traders, making this career possibly highly rewarding.
- Community and Collaboration: Given their closely-knit operational model, traders in prop firms often benefit from a sense of community, sharing insights, strategies, and collaborating for mutual success.
Disadvantages of Prop Trading Firms
While the allure of prop trading is undeniable, it's essential to understand the challenges and potential pitfalls:
- High Risk, High Pressure: The speculative nature of prop trading means there's a higher risk of significant losses. Combine this with the pressure to perform and show consistent profits, and it’s easy to see why proprietary trading is considered a highly stressful activity by many traders.
- Regulatory Hurdles: Post the 2008 financial crisis and the introduction of the Volcker rule, prop trading firms have come under increased regulatory scrutiny, with 50% of prop trading executives stating that regulation is among the biggest challenges that the industry is facing.
- Variable Income: Unlike traditional jobs with fixed salaries, prop traders earn based on performance. This can lead to income variability, making financial planning essential.
- Intellectual Property Concerns: Exceptional traders with unique strategies might face the risk of their strategies being replicated or reverse-engineered by the firm.
- Operational Costs: While prop firms provide access to advanced tools and platforms, they often come with associated costs. These operational expenses can eat into a trader's profits.
- Limited Diversification for Some Firms: While many prop firms allow diversification, some might specialize in specific markets or strategies, limiting a trader's flexibility.
- Intense Competition: The world of prop trading is fiercely competitive. Traders are constantly vying for the top spot, ironing out their strategies and using the newest automation tools and technical advantages, with the ever-evolving market dynamics ensuring that traders need to be on their toes at all times.
How to Become a Prop Trader
If you're contemplating a foray into the world of prop trading, here's an example of some of the important steps we’d recommend following:
- Gain Foundational Understanding: Before you can master the art of prop trading, it's essential to understand its basic tenets. While formal education in finance or economics can be a boon, it's not a strict necessity. What’s more important is the knowledge of various financial instruments and the systems and rules by which they operate.
- Master the Market: You can't just jump in and expect profits. If it were that simple, everyone would be a prop trader. Dedicate significant time to track market trends, understanding both technical and macroeconomic indicators.
- Familiarize Yourself With Regulatory Information: Every market operates within a framework of rules. Whether it's being aware of trading timings, understanding margins for futures and derivatives, or ensuring you don't trade on non-public material information, compliance is key. Familiarize yourself with relevant legislations and broker-specific rules to ensure you trade within legal and ethical boundaries, and avoid any prop firms which raise the red flags you need to look out for.
- Craft Your Trading Strategy: The world of prop trading is replete with indicators and strategies. For instance, if you're inclined towards the Simple Moving Average (SMA), you'll need to decide whether a 50-period SMA or a 100-period SMA aligns with your goals. Remember, no strategy guarantees consistent profitability. It's always prudent to complement technical indicators with other analytical tools to make well-rounded decisions.
- Learn Risk Management and Capital Preservation: In trading, there's no foolproof strategy. Considering the intrinsic risks, particularly when amplifying positions through leverage, it becomes essential to establish and adhere to stringent risk management measures. Tools like stop losses and hedging can be invaluable in mitigating potential losses.
- The Power of Practice: Before you're entrusted with a firm's capital, you'll likely be given a simulator account on a trading platform. This 'paper trading' phase is both a learning opportunity and a test of your trading acumen. It's a chance to familiarize yourself with platform features, refine strategies, and demonstrate your potential to prospective employers.
- Join a Prop Trading Program: Once you've honed your skills, consider enrolling in a prop trading evaluation program. Such programs assess your capabilities in real-world trading scenarios and can be a stepping stone to joining a reputable prop trading firm.
- The Transition to Live Trading: Successful completion of a prop evaluation program can lead to offers from trading partners, allowing you to trade with actual capital. This phase is where theory meets practice, or rubber meets the road, as they say.
For a more detailed explanation, you can check out our guide on becoming a prop trader.
How Much Do Prop Traders Make?
One of the most enticing aspects of prop trading is the potential for substantial earnings. While salaries vary based on performance and location, US prop traders earn an average yearly salary of $102,745, according to Glassdoor. The same source states that the highest salary for a prop trader in the United States is $252k per year.
Review Methodology
How We Evaluate Prop Trading Firms
The key to success with prop trading is finding the right prop firm to work with. Many companies are competing for new traders with advertised benefits and higher profit cuts. However, profit margins aren’t the only important criterion, and there are several factors to consider before committing to a specific firm.
Reputation
Due to the well-established presence of bad actors within the prop trading industry, a good reputation takes lots of work to build up. We’ve examined what users have to say about their experience on each platform and how the company handled any issues their traders faced.
Whether in a large or small organization, complaints that haven’t been clearly resolved are reflected in the company’s Trustpilot rating. The time it takes for the firm to onboard new traders and if it’s making on-time payments are some of the most important factors that reflect how reputable the company is.
Available Assets
What do you specialize in? Some prop firms have a variety of assets for trade, while others prefer to have traders focusing on a select few. You’ll likely have a choice of futures, stocks, forex, and other commodities.
Even though some are specifically designated, like forex prop firms for example, they can also include trading with cryptocurrencies and precious metals.
Fees & Subscription Costs
Fees and profit margins will be determining factors for any prospective trader on the hunt for a platform. You’ll have to make a financial commitment before being accepted as a regular trader and recieving prop firm funding, and some platforms have a higher barrier to entry than others.
The initial one-time fee for the evaluation process varies significantly; on the plus side, some companies do offer a refund for that payment.
Trading Platform and Trading Style
Check what trading platform the proprietary firm is using. When it comes to forex trading, the best prop firms implement MT4, MT5, and cTrader platforms, while others may emphasize technical analysis vs. fundamentals on which your potential investments are built.
Your approach to researching before making an investment may make or break your trading experience with some of the firms on this list.
Customer Support
Having a good support lifeline from the firm you are trading with is going to be essential. You may have important questions or issues to be resolved with your payments, profit splits, platform features, or just about anything else.
That’s where readily available support of a prop firm is incredibly helpful, and an extensive knowledge base will save you the precious time you need to dedicate to research and trading.
Further Reading:
- Differences Between Prop Trading and Hedge Funds Explained
- Leading Crypto Prop Trading Firms Reviewed
FAQ
Is proprietary trading legal?
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It depends on the person making the trades: In most situations, prop trading isn’t illegal, unless you are working for some of the most influential banks in the world. Due to the 2008 financial crisis, banks are no longer allowed to conduct proprietary trades.
Which prop firm is better than FTMO?
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While FTMO is easily considered one of the leading platforms for prop trading, some alternatives are popular among traders. Some of these are Topstep, The 5%ers, FundedNext, and others that we listed here.
Are prop trading firms worth it?
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Prop trading is a legitimate method of earning huge profits by making trades. Users who can make it through evaluation quickly get access to funded accounts and can start trading with the firm’s capital, which in some instances can amount to millions of dollars.
Do prop traders make money?
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Yes, they do. Successful proprietary traders can expect to earn between $100,000 and $200,000 per year. Entry positions earn somewhat less, but most prop trading firms pay their traders competitively.
How do prop trading firms make money?
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The main way prop trading firms earn money is by taking a percentage of each trader's profit, usually somewhere between 10% to 50%. There are also some companies which may charge for services like coaching and account opening.
Which prop firm is best for scalping?
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We'd recommend looking at Topstep or FTMO if you're looking for a good prop firm for scalpers in 2024.