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Best and Cheapest Prop Trading Firms that Allow EAs, Some with Instant Funding & No Challenges

Best and Cheapest Prop Trading Firms that Allow EAs, Some with Instant Funding & No Challenges

Table of Contents

What Prop Trading Firms are right for expert and beginner traders?

Funded Account ProgramsAccount SizePhase 1 Profit Target %Phase 2 Profit Target %Maximum Overall Loss%Maximum Acceptable Daily Loss%Profit / DD RatioMaximum Daily Loss Calculation Based onLeverageMinimum Trading DaysMaximum Trading DaysTrading NewsHold Over the WeekendProfit SplitPayout CycleEAs Allowed$100K price$10K Price
10K, 25K, 50K, 100K, 200K10%5%10%5%150%Daily Balance1:1004UnlimitedNoNo80/20Bi-WeeklyYes€540€155
10K, 25K, 50K, 100K, 200K8%5%10%5%130%Equity1:1005UnlimitedYesYes80/20Bi-WeeklyYes€499€89
50K, 100K, 200K, 300K, 400K8%5%10%5%130%Equity/Balance1:1005UnlimitedYesYes80/20Monthly -> Bi-WeeklyYes (on royal)$489$129
10K, 25K, 50K, 100K, 200K7%5%8%4%150%Equity1:1000UnlimitedYesYes85/15Bi-WeeklyYes$467$67
25K, 50K, 100K, 250K8%5%8%5%163%Equity/Balance1:100030/60YesYes80/20Bi-WeeklyYes$588
15K, 25K, 50K, 100K, 200K10%5%10%5%150%Daily Balance1:1005UnlimitedYesYes80/20Bi-WeeklyYes$519$99 (59.4) 15k
5K, 20K, 60K, 100K8%5%10%5%130%Balance/Equity1:10 - 1:303UnlimitedYesYes75Bi-WeeklyYes$495
25K, 50K, 100K; 250K, 500K, 1M10%N/A8%5%N/ABalance1:200UnlimitedYesYes75-90Every 30 daysYes$700
5K,10K,25K,50K,100K, 200K8%5%10%5%130%Equity1:1005UnlimitedYes (but not on funded accts)Yes85/1530 Days, then Bi-weeklyYes$549$139
25K, 50K, 100K, 200K10%5%10%5%150%Relative To Balance1:300UnlimitedYesYes80/20Every 7 daysYes$499$119 12.5k
10K, 25K, 50K, 100K, 200K, 300K8%5%10%5%130%Equity/Balance1:100 - 1:30440YesYes80-90Bi-WeeklyYes on Challenges Only$560$130 (104)

What Are Prop Trading Firms?

And what about proprietary trading? Is it alive or dead? Well, our Funded Account Programs review will give you all the details you need.

What we have is an actual fact of what you need when it comes to trading with Funded Account Programs.

Getting a funded forex account program is one of the best ways to engage with forex trading and earn ROI daily.

That’s one of the best ways to engage in the markets and get over 2 percent trading profits by passing different phases.

A Closer look at Prop Trading Firms

Modern Prop Trading is what you need to look into. It’s one of the most lucrative and profitable trading platforms.

Of course, you must know and have the right tools to make your trading even more enjoyable and fun.

Having the right EA also plays a vital role in ensuring you get near-perfect trades. Your next move should be to engage with reliable forex trading platforms.

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You must sign up with the best PROP TRADING FIRMS the industry offers.

Our funded account programs review will give you a clear structure of what you can earn as a trader using prop trading firms.

We will give you insights into the advantages of using prop trading firms over other platforms.

There may not be much difference between being a proprietary and a retail trader. It’s worth noting the difference between the two.

The biggest advantage of being a proprietary trader is LEVERAGE.

A Closer Look at What Prop Trading Firms really is when it comes to funded account programs

Proprietary trading is basically trading for profit. It’s more than earning commissions or trading on behalf of clients.

Prop trading occurs when a trading desk at a brokerage firm, financial institution, hedge fund, or investment bank uses firm capital to conduct self-promoting financial transactions.

Most of the trades are usually speculative and are executed through various derivatives such as Funded Account Programs or other complex investment programs.

Prop trading serves many reasons and comes highly regulated in the United States and laxer outside the US borders.

From hedge funds to stockpile inventories, market making is another reason for prop trading. These include providing liquidity in a group of securities of a specific security.

Advantages of Prop Trading Firms

Based on our decades of experience, we will share the advantages of prop trading. You might find that the pros are way better than in retail trading.

  • Prop trading is good for providing liquidity via open doors

As a trader, you might trade in the open or in some way provide liquidity which may require many open orders.

Proprietary trading is probably one of the best ways to of trading than when it comes to retail trading.

Having many open orders is an advantage to traders. And this is why we believe prop trading is way much better than retail trading.

Retail traders usually get rejected when they reach a certain leverage limit, and it’s not much the case with prop trading.

  • Prop trading involves higher leverage than retail trading

With prop trading, not only can you open multiple orders, but you also get higher leverage than with retail trading.

In most proprietary firms, leverage limits are rarely enforced, especially if you have a track record spanning years.

  • Traders get easy entry to trading, especially undercapitalized traders

A trader with less than $25,000 to invest in a proprietary account has a better chance of succeeding than in retail trading.

Prop trading is a good solution, as your buying power exceeds what you would get as a retail trader.

You keep your capital and use it as leverage instead of keeping it locked, which attracts more risk.

  • Traders get multiple trading platforms

As a prop trader, you get to use and choose a variety of trading platforms, including the world-class MT4 and MT5 trading terminals.

When it comes to being a retail trader, you can only use the platform offered and fail to integrate with other formidable trading platforms.

An example would be MT5 which has an engaging and user-friendly interface. That’s one of the best platforms.

  • Prop trading allows traders to diversify and reduce risks

Prop trading is a viable option for those with a large bank account. For those with a small capital, this is another valid option for you as well.

Traders can use capital that they can afford to lose. The rest of the capital is an option for mutual funds or stocks for capital retention.

  • Prop trading firms offer rebates to traders

When you add liquidity to the market, expect to earn rebates or compensation. As a retail trader, you are unlikely to get such.

  • Less regulation than other retail brokers

Prop firms that accept and offer remote trading rarely get any regulation. And this means as a trader, you can maneuver in an industry where regulated brokers face huge restrictions.

Not being regulated also means less operating cost for the prop firm.

You must join a prop firm where the prop managers have honesty, integrity, and trustworthiness.

  • Prop trading offers a huge inventory list for short sales

To sell short, traders need to locate shares, and there are some stocks on a threshold or ‘hard to borrow’, which makes them unavailable on the list for short selling.

Retail traders usually have limits when it comes to locating shares to sell short.

  • Support is exceptional with proprietary trading firms

If there’s ever a place to get exceptional support, expect it from prop trading firms. Thanks to the closely-knit operations, these people are a phone call away.

If you need to solve an issue, prop trading support is available. In retail trading, that’s rarely the case.

Why prop trading and using forex-funded account programs is right for you

Ensure you do proper due diligence before using any of the two recommended from the list below.

Our tests and trials over the past few months found the two the best to engage in, even if you are new at trading.

Several reasons made us go for the two. And these include honesty, integrity, support, and trust.

We went for two and not three or four for a reason. The two were neck and neck regarding results and fair trading practices.

Here are the two of our recommended Prop trading service providers for funded account programs

Best Rated Prop Trading Firms With INSTANT FUNDING and NO CHALLENGES

Here are the best prop trading firms offering instant funding and no challenges. Let’s take a look at each and what each prop firm offers differently from others

1. OFP Funding

OFP Funding One of the Leading Prop Trading Firms

One of the standard features of OFP Funding has to be the inclusive approach. The platform offers instant funding with NO Challenges to anyone looking for funding. Welcoming traders from all levels is a plus, making it one of the stand-out prop trading firms.

OFP Funding offers one of the most cost-effective funding approaches available in the funding world. Traders simply purchase their preferred trading account type to help kick-start their trading journey.

Traders have the potential to trade with a funded account balance of $5 million. What’s more exciting with OFP Funding is the profit share received which is adaptable and flexible. Another fascinating aspect of OFP Funding is the scaling plan.

With a unique stance of profit targets, it gives traders a chance to place trades at their own pace. There are no specific benchmarks to hit with OFP Funding. And that’s one of the reasons it’s the best prop trading firm out there.

Advantages of OFP Funding

Lifelong Account

Traders enjoy a funded account with no expiry date, allowing traders to trade as long as they wish. This gives traders a chance to learn the ropes as they go by therefore improving their overall performance.

There’s also the fact that traders feel no added pressure with such an account. With the autonomy to use trading styles, OFP Funding has one of the best account-funded programs in terms of longevity.

Multiple Account Currencies

sOFP Funding is offering up to 5 possible account currencies making funding accessible to various traders across the globe. You don’t have to convert the funded account currencies to suit your market preferences.

No Profit Targets to Meet

Once you open an account with OFP Funding, there are no profit targets set for funded traders. You get to trade at your own pace, free from rigid profit target requirements or any such-like evaluations to get funded.

With no profit target having to dictate your performance, it gives every trader a chance to improve on their trading. This means that you have all the time in the world to make informed trades using robots as well.

No Stop Loss Required

Another fascinating factor with OFP Funding is that there’s no stop loss required providing flexibility for traders. It gives traders the freedom to set trades without having to set or mitigate the stop-loss feature.

It’s one of the only top prop trading firms to offer such in the trading world. Thus, we believe this is the best plan to get when signing up or looking for a funded account program without any evaluation.

No Fixed Risk Limits

Unlike other prop trading firms, OFP Funding doesn’t set fixed risk limits giving autonomy to traders. There are no fixed limits on trading risks with ofpfunding.com which is one of the biggest challenges traders experience with other evaluation programs.

With this feature, traders get the chance to use and apply different trading strategies and don’t accept the use of EAs. Despite other prop trading firms offering the same, some with evaluation don’t accept certain trading strategies and robots.

No Renewal charges

Once you get a funded account with OFP Funding, bid goodbye to renewal fees that often eat away at profits made. It has become paramount for funded account traders to gain access to some of the world’s best trading assets.

Renewal charges over the trading period seem to set traders back when it comes to overall profit made. OFP Funding understands this and has completely removed this feature enabling traders to make the most out of the funded account programs.

Scaling Plan

OFP Funding offers a scaling plan that guarantees higher profit margins with each achieved phase. This enhances the overall potential of earning more with OFP Funding for traders involved.

Unlike other prop trading firms that set near-impossible scaling plans, OFP funding is one of the best prop trading firms with a reasonable scaling plan offering traders high potential earnings with their trading.

OFP Funding

Cons of OFP Funding

EAs not allowed

Probably one of the biggest setbacks with OFP Funding is that they don’t accept using Expert Robots. Any trader found using EAs will result in account termination with all positions needing closing for traders to receive payouts.

Low-Profit share

Some of the traders may find the profit share offered to be low compared to other prop trading firms. We don’t see it that way as the prop firm offers no evaluation process and had to mitigate the risks involved.

Newcomer Status

This prop trading firm is relatively new in the market and might be a concern for some of the traders. A new prop trading firm usually has to prove itself over time for it to garner the necessary attention it deserves.

No Retry Options

There’s no retry option with OFP Funding for those who sadly encounter setbacks during their trading journey. This propels investors to shun the prop firm as they do want to get a second chance at success.

Not suitable for beginners

OFP Funding is not suitable for beginners due to the no-retry position held by the firm. As such, the prop trading firm may not be the best for any novice who hasn’t some prior trading experience in the forex market.

Trading Conditions OFP Funding

Brokers

Trading is via one of the best brokers in the world, IC Markets, a regulated liquidity provider in multiple jurisdictions. IC Markets offers excellent trading conditions including low commission fees and tight spreads.

The broker has a deep liquidity pool from different liquidity providers ensuring traders get the best prices available. You also get rapid trade executions to match the excellent conditions provided by IC Markets.

Consistency Rule

There’s no consistency rule in place which is an advantage to traders. However, OFP Funding expects traders to practice prudent risk management. Traders must continue to abide by the set trading rules.

Copy Trading

OFP Funding only accepts cop trading between OFP accounts. Trades from your personal or other prop accounts are disallowed. Copying trades from different accounts leads to account suspension or termination.

Before starting copy trading, you need to contact support before the initial setup. Traders must wait for approval before moving forward with the platform. Information needed includes account numbers, software, and the master account used.

OFP Funding Trading Conditions

Daily Drawdown

OFP Funding insists that the account balance and equity cannot be lower than your daily maximum balance less the account margin. The two must be equal to it. The account margin is 5% of the total amount of your initial deposit.

Each day begins at 00:00GMT and the accounts get closed if the rule is broken.

Fees

There are no renewal fees with traders having to pay the initial fee upfront for a funded account. Traders get to use the account as long as they like or face a risk of termination after violating set rules.

Each account offers a lifelong approach with traders having to fund their accounts without further costs. And this has to be one of the advantages of OFP Funding as one of the leading prop trading firms.

OFP Funding Accepts traders from these countries

U.S.A, UK, France, Spain, Canada, Germany, Hungary, Sweden, Algeria. Morocco, Egypt, India, Lebanon, Belgium, Chile. Argentina, Brazil, Kenya, Finland, Dubai, Netherlands, Lebanon, Libya, Sudan, Somalia, Russia, etc.

Countries with Limitations with OFP Funding

Cuba, Iran, North Korea,Syria, Vietnam, Malaysia.

2. FundingYourFX

FundYourFX one of the best Prop Trading Firms

For traders looking to leverage their trading skills for a fully funded account, FundingYourFX is the best option. Traders with good money management and the right strategies are the skills required to join this funded account program.

With up to 70% of the profits shared, 10% of your profits go to charity. The platform strives to maintain transparency for partners alike. Traders can get access to over $1 million in capital without facing any trading evaluations.

NO TRADING EVALUATIONS is what makes FundYourFX another option for traders looking for a fully funded account. It gives traders the chance to reach their maximum potential thanks to the no-evaluation process.

Access to the funded accounts comes at an affordable price with the platform earning exceptional feedback from traders. The platform also supports your effort to improve your trading skills with access to several educational tools.

What makes this funded account program beneficial to traders is EAs are allowed.

About FundingYourFX

FundingYourFX will approve traders after passing the initial interview process. Traders immediately get access to a live fully funded account. This means there are no evaluations taking place pre-live account offers.

It’s a simple 4-step process which involves

  • Applying for the funded account program
  • Having to pay the fees required
  • Immediately start trading after access to the live account
  • Secure payment and profit share

Advantages of FundYourFX

Access to $1 Million in funding

FundYourFX gives traders a funded account of up to $1 million. That’s one of the best-funded account programs offered by prop trading firms. This is what’s needed when it comes to having a funded account program with actual funds to trade with.

Automated Trading with EAs Allowed

Another factor that sets apart this prop trading firm is that it allows Expert Advisors. Most Prop Trading Firms do accept EAs but come with pre-determined conditions. FundYourFX gives traders a chance to improve their trading with the help of EAs.

Can Reset Accounts up to 3 times

Traders using this prop trading firm get the chance to hit the reset button once they face any obstacles. When it comes to allowing traders a reset, FundYourFX offers three times as many chances, unlike other prop trading firms.

Charitable donation incentive

With an incentive that 10% of your profit goes to charitable organizations, it gives traders a chance to motivate and get the desired trading results. These charitable organizations rely on your profit to get going which is a great motivator.

Great Variety of Trading Instruments

Traders are looking for a chance to spread their risks with a variety of trading assets. And FundYourFX offers these assets in their hundreds. You get to trade with assets such as commodities, crypto, forex, indices, and stocks.

Instant Funded Account

The platform offers instant funding with traders not having to face any challenges to get a funded account. And this is one of the greatest benefits of trading with this platform as it offers investors a chance to become better with a fully funded account with no evaluation.

No Liability for Losses

Another enticing feature of Fund Your FX is that traders don’t face any liabilities when it comes to losses. This is a great way of ensuring you get the best out of trading with liability already covered by the prop firm.

No Restrictive rules

There are no restrictive trading conditions or rules that may hinder the performance of traders on the platform. This means we are dealing with a prop trading firm giving autonomy to traders with excellent trading conditions.

Overnight, weekend holding and news trading allowed

Another exciting feature of Fund Your FX is that the prop firm allows overnight and weekend holding. This is an important feature as most prop firms require closed trades at the end of business day.

News trading is another added advantage.

Powerful Trading Terminal

FundYourFX offers two of the most intuitive and powerful trading terminals in the industry. You get to trade with the MT4 trading terminal which is a plus for traders. This is the best way to take advantage of trading with tools offering analysis and charting capabilities.

Refundable fees

Unlike other platforms that fail to offer a refundable fee, FundYourFX does offer a refundable fee after five consecutive 10% profit margin hits. This is a great offer that gives traders caution even after taking a hit during trading.

Pricing FundYourFX

Cons of FundYourFX

Below-par Profit share margin

70% is way below the expected profit share in the prop trading firms’ world with others having a minimum profit share of 80%. Despite the 10% going to charity, the platform ought to carry this percentage instead of offloading it to traders.

Does not provide MT5

Despite providing traders with the exceptional MT4 trading terminal, the revised MT5 trading platform is not available. Today’s trader wants to invest with some of the best terminals offering better tools that optimizes trading.

No (Demo) Free version

There’s no demo account on offer with this trading terminal. And this goes to show we are dealing with a ridiculous amount of live trading even for skilled traders. With mistakes bound, a demo account cautions traders by ensuring they test their trading strategies.

Questionable Online Feedback

According to a few comments on social media, the platform does have some glitches. These include some of the interview process and reasons given for traders not passing the interview and getting a funded account.

Trading Rules FundYourFX

Account Reset

To maintain funding eligibility, traders must reset their trading account once they violate rules set. If you violate drawdown limits, the platform also resets your funded account. No matter the balance at the time, FundYourFX will reset to the account’s starting value.

Prior to releasing payments, the platform will analyze all trading activities when traders hit a profit target. Your account fails to get funding if FundYourFX discovers backdated rule violations.

Drawdown Limits

FundYourFX offers no daily drawdown limits which is exceptional for traders. The maximum drawdown limit is the only restrictive rule on this funded program. This restriction is primarily based on the level of your account.

Accounts get terminated if traders exceed and reach the maximum trade size at the time. Once this happens, it’s highly likely the platform will reset your account back to default. And this gives traders a chance to get funded again.

Fees

It all depends on the account plan chosen by the funded trader. There’s a one-time setup for each of the three plans. FundYourFX insists the fee covers account setup, administrative expenses, analytics software, and risk management

Payout

Once traders adhere to the set trading rules, you’ll get up to 70% of the profit share after reaching a 10% profit. Traders automatically set up their preferred payment method with the frequency of payment being weekly.

Traders only need to complete a short form to request profit share. FundYourFX usually takes one to two business days to process payment. One of the enticing features with Fund Your FX is withdrawals are completely free.

Position Size

Maximum trade size only applies to level 1 and level 4 traders, with no restrictions on how much you can trade on level 5 and beyond. The maximum lot size for cryptocurrencies and forex is 0.1 per $2,000.

Traders who exceed or reach the maximum trade size at the time with limit or open orders get their accounts terminated. Any open deals might not get automatic cancelling which means the platform is free to reset such accounts.

Profitability

It’s imperative that traders hit their profit margins within a reasonable amount of time. FundYourFX expects a win-win outcome for the business and the traders. There’s a 10% profit target to hit for level 1 to 4.

To hit this target, there’s a 90-day trading period in order for traders to qualify for payments. Once you reach level 5 and continually hit profit targets, there’s an increase of time traders getting 180 days of trading.

Scaling

Fund Your FX gradually rewards and increases your account balance if you show consistency. It means traders don’t need to put their funds at risk and aren’t responsible for any losses. The platform immediately boosts your account balance after the initial profit split reaches $1.75M.

Live accounts basically start with a funded account balance of $6,000 and can reach a maximum of $30,000. Each time traders make a 10% profit, Fund Your FX will increase your trading balance automatically.

Stop Loss

Level 1 and 2 traders need to have proper stop loss mechanism in place with discipline being a key factor. Once traders are in 30 minutes of the trade, they should have a stop loss feature put in place as precaution.

Scalpers who trade within 30 minutes timeframe don’t necessarily need stop loss features. Once traders on FundYourFX reach stage 3 all the way to stage 8, they don’t require stop loss features. And that’s another enticing aspect of FundYourFX.

Trading Days

Each prop firm appreciates a trader’s convenience in timing, there are no minimum trading days required. At the same time, traders must commit to their initiative with a 10% profit target expected within 90 days.

After hitting this profit target, the platform knows you’re committed and increases the profit target days to 180 days. In fact, Fund Your FX is the only prop firm to double the trading days within the shortest period.

Trading Strategies

One of the most exciting features with FundYourFX is that they accept traders to utilize EAs. Unlike other prop firms with stringent rules on EAs, you are free to use any EA as long as you meet the rules.

Traders can therefor take advantage of trade copiers, and tools for managing risks. You can also infuse auto-trading bots to ensure they meet the requirements set for market conditions. Traders have the leeway to use any EA of your Liking.

Countries Accepted by FundYourFX,

There are NO COUNTRY RESTRICTIONS with the platform advising investors to check with local regulations instead. You can trade irregardless of where you’re from.

United States, Canada, Australia, New Zealand, UK, Nigeria, Chile, Brazil, Venezuela, Syri, Russia, Ukraine, All of Europe, Asia, Africa.

 

Comparing OFP Funding vs FundYourFX

Funded Trading FirmAccount ResetDrawdownEAs AllowedFeesProfit ShareProfit TargetTrading PlatformScaling
Lifelong Account10%No$18580%No Profit Target to MeetMT4, MT5$5 Million
3 Times5%Yes£19770%10%MT4 Only$1.5 Million
Funded Trading FirmAccount ResetDrawdownEAs AllowedFeesProfit ShareProfit TargetTrading PlatformScaling

 

 

Top-Rated Tier 1 Prop Trading Firms

Funded Account ProgramsAccount SizePhase 1 Profit Target %Phase 2 Profit Target %Maximum Overall Loss%Maximum Acceptable Daily Loss%Profit / DD RatioMaximum Daily Loss Calculation Based onLeverageMinimum Trading DaysMaximum Trading DaysTrading NewsHold Over the WeekendProfit SplitPayout CycleEAs Allowed$100K price
10K, 25K, 50K, 100K, 200K10%5%10%5%150%Daily Balance1:1004UnlimitedNoNo80/20Bi-WeeklyYes€540€155
10K, 25K, 50K, 100K, 200K8%5%10%5%130%Equity1:1005UnlimitedYesYes80/20Bi-WeeklyYes€499€89
50K, 100K, 200K, 300K, 400K8%5%10%5%130%Equity/Balance1:1005UnlimitedYesYes80/20Monthly -> Bi-WeeklyYes (on royal)$489$129
10K, 25K, 50K, 100K, 200K7%5%8%4%150%Equity1:1000UnlimitedYesYes85/15Bi-WeeklyYes$467Varies
25K, 50K, 100K, 250K8%5%8%5%163%Equity/Balance1:100030/60YesYes80/20Bi-WeeklyYes$588$99 (59.4) 15k

#1. FTMO

FTMO Prop Trading Firms

The idea of FTMO as a prop trading firm started in 2014; Prague was where the idea was conceptualized.

With the project commencing, it was clear FTMO needed to go globally. And for those who don’t know, FTMO is an international fund based on retail traders.

Each of these retail traders offers a diversified portfolio to investors and helps traders achieve financial independence.

The team behind is exceptionally talented and experienced to help even the freshest trader learn the ropes and become an accomplished prop trader.

Once you land on the homepage, FTMO offers a huge 90 percent of profits, and what’s more exciting is they cover the losses.

The platform has made over $100 million in payouts with traders from over 180 countries. It shows why FTMO made it to our top list of fund account programs.

There are over 16 million trades opened monthly with an average 8-hour payment processing wait time.

Listed on Forbes, it’s one of the best-managed funded account programs in the industry. And if you’re looking to start with a proven platform, FTMO is the best choice.

How you can trade for a proprietary trading firm

FTMO Trader Evaluation Steps

FTMO developed a unique 2-step evaluation process for anyone looking to become a prop trader on their platform.

The evaluation process includes an FTMO challenge and verification step that’s meant to discover your trading talents.

Once you successfully complete the evaluation course, you get a placement in the FTMO prop trading firm.

Traders can remotely manage an account with a balance of up to $400,000. The amount depends on how successful you were with the evaluation.

For traders with high scores often build their portfolios with a large sum to trade. The road to achieving these heights is definitely challenging.

No worries; there are coaches to help you with trading and educational materials to help you enhance your trading skills.

Step 1: FTMO Challenge to join a funded account program

Here’s the first step in your evaluation process. It would be best if you succeeded here to advance to the next stage.

Traders must prove their discipline in trading and their trading skills in observing set trading objectives.

Step 2: Verification

Verification is the last step towards becoming an FTMO trader, and this is a very special stage for traders.

Once you pass the verification stage and get your results verified by the team, you are then offered the prop trading position.

Step 3: FTMO Trader

After reaching this step, you have reached the Promised Land and definitely an FTMO trader. Once you trade consistently and firmly, you receive up to 90 percent of the profit.

There’s another level to achieve even after becoming a trader. If you consistently generate profits, the team bumps your status or trading account according to their scaling plan.

Knowing your trading objectives with FTMO

FTMO Fund Account Programs Join and Sign Up

Before FTMO allows you to trade with their proprietary trading firm, the team must ensure you can manage risks.

Managing risks is the reason FTMO developed trading objectives. Once traders meet trading objectives, the platform won’t set any limits on instruments or position size for your trade.

The currencies to manage include AUD, CAD, CHF, CZK, EUR, GBP, and USD. Risks are either normal or aggressive, depending on the trader’s pick.

Managing risk evaluation balances start from $10,000 to a maximum of $200,000.

For the FTMO challenge, step 1, the trading period is 30 days plus 14 more days. The minimum trading days are 10 days.

Maximum loss allowed with the first step is $1,000, with the profit target set at $1,000. There’s a refundable fee of €155.

With the verification step, traders enjoy a 60-day trading period. The minimum trading days are 10 days.

Maximum daily loss is $500, with the maximum loss allowed set at $1,000. The profit target is $500, with free repeat available.

The refundable fee is free.

Trading objectives of an FTMO trader with funded account programs

Once you reach this level and your evaluation tests go through, the trading period is indefinite.

There’s no limit on maximum trading days, with a maximum daily loss set at $500. The maximum loss on this account is $1,000.

Traders don’t get a profit target, and there’s no free repeat. There’s a refund available as a refundable fee as a trader.

Payout system for FTMO

There’s a default payout ratio set for all FTMO traders on the prop firm. The firm sets the default payout ratio to 80:20.

However, traders should note that the 80 percent share is not where FTMO draws the line.

If traders meet the conditions for the firm’s scaling plan, the firm increases the balance of your FTMO account by nearly 25 percent.

And the payout ratio also increases to 90:10.

What’s more exciting is that traders can request payout on-demand. Demand payment is usually processed after 14 days of request.

Traders also have the ability to choose their profit split day, and you get to change the dates up to three times.

FTMO ensures traders receive withdrawals at the trader’s convenience.

Popular trading platforms available on FTMO funded account programs

Traders on FTMO get the best trading solutions when it comes to trading platforms. Members are spoilt for choice with a chance to get cTrader, MT4, and MT5.

Trading assets found on these three platforms

Traders can trade with commodities, crypto, forex, and indices. There’s also the option of custom trading assets available for the more experienced traders.

What other features do traders get from FTMO Funded account programs

1. Account Analysis

The platform offers an unbiased look at their trading results. That includes the trading period and the objective of the trading period.

Traders get information on several open trading positions and an average of daily trading positions.

From the account analysis, traders get to see their success rate, which is the win rate accompanied by a RRR or reward-risk ratio, which should be positive.

Traders get results by days, a balance sheet, and results by close or opening in a bar form. You also get results by trading instruments, including long and short trades.

At the bottom, members get to see the final evaluation with the summary results, either passed or failed.

2. Custom Apps

There are several apps to get when it comes to FTMO. And these systems offer an advantage to traders using this one-of-a-kind trading platform.

Let’s take a closer look at some of these apps to get with FTMO

(a). Account Metrix

The app monitors your progress toward becoming a full FTMO trader. It serves every trader whose undertaking the challenge and verification process.

It’s also available for traders who are using a free trial.

Traders get a complete overview of the trading objectives, with users finding a wide range of statistics that every trader must know.

(b). Statistical app

With this app, you can see meaningful and number-based statistics for market behavior to take advantage of.

(c). Trading Journal

With the FTMO trading journal, you get to record your trading results. And this ensures you won’t make the same mistake twice.

FTMO Contact Details

(d). Mentor App

With this app, FTMO wants traders to strengthen their trading discipline. The app lets traders follow their rules and set risk limits.

(e). Equity Simulator

It helps traders manage and offer calculations that give traders every possible outcome. And this is why FTMO is one of the best Funded Account Programs in the industry.

3. Customer Support

There are several support structures with different language support available on FTMO. That includes English, French, Portuguese, Serbian, and even Arabic.

4. Performance Coach

It would be best to surpass bad habits and unwanted behavior to get a source of good behavior.

FTMO offers trading coaches that set up traders to ensure they get better trading results with disciplined trading.

5. Trading Academy

Some tutorials help beginner traders start with platforms and, most importantly, the trading basics.

The above reasons made FTMO appear at the top of our recommended Funded Account Programs list.

FTMO Comparison and Rating Prop Trading Firms

Countries FTMO Accepts for trading

FTMO accepts traders from all over the world including the United States, UK, Canada, Mexico, Chile, Brazil, Australia, Holland, Austria, Belgium, France, Germany, Spain, Italy, Nigeria, Algeria, Sweden, and Qatar.

Countries NOT Accepted by FTMO

Iran, Syria, Myanmar, North Korea, India, Russia, Belarus, Indonesia. However residents from these countries can trade after providing proof of address

In the United States, FTMO doesn’t accept traders from these States; Louisiana, South Carolina, Delaware, Montana, and Arkansas

#2. True Forex Funds

Why True Forex Funds is the best funded program for all classes of traders

Here’s an exciting prop trading firm with a difference. True Forex Funds can fund up to $400,000 in capital.

It’s one of the fastest growing Forex Funded Account Programs with an easy step to getting full funding.

Once traders complete the evaluation, they set themselves up for full funding of $200,000 plus.

Advantages of True Forex Funds

There are several advantages that come with this account, which include fast payouts of around 24 hours.

Another exciting feature of True Forex Funds is the fact that the platform does allow traders from over 100 countries.

The spreads are exciting with leverage set above average for all classes of assets.

It’s clear the platform does allow for a comfortable trading experience for all classes of traders.

How to open a Funded Account Program with True Forex Funds

Let’s take a closer look at how you can take part in the challenge and finally have a fully funded account.

Phase 1

Here’s where you start the evaluation process with the platform setting a profit target of 8 percent.

The challenge includes rules such as 5 percent acceptable minimum daily trading loss and 10 percent loss generally.

Registration with this phase of evaluation is set depending on the evaluation step you want.

Phase 2

It’s the second phase where traders enjoy the same set of rules as in phase 1.

The only difference is the set profit target, which is set at 5 percent.

Phase 3

Here’s the last phase where after succeeding with the first two, you get a fully funded account.

The rules remain the same in terms of daily and overall losses. There’s an 80/20 profit split.

What are you waiting for, sign up today with True Forex Funds

True Forex Funds Prop Trading Firms

True Forex Funds Country Restrictions

These are the countries the True Forex Funds doesn’t allow traders from including Iran, Syria, and North Korea.

3. The Funded Trader

The Funded Trader Fully Prop Trading Firms

The Funded Trader is one of the reliable prop trading firms working with well-known brokers. With a convenient and fast-to-understand website, newbies find it easy to understand what’s needed of them.

What makes The Funded Trader a reliable option is the fact that it offers standard accounts that are far better than those of its competitors. The initial fee is lower than most, which makes it convenient to sign up as a newbie or expert trader.

With imposed minimum instructions, you get one of the best-funded account programs for mitigating losses and high risks. With over 6,000 partners and 500+ professionals teaching investors, it makes The Funded Trader a perfect pick for traders looking for funding.

Some of the trading assets include commodities, cryptocurrencies, gold, and indices which are only available during the challenges. The minimum leverage set is 1:2 with the maximum set at 1:2000. The Funded Trader accepts all styles of trading including hedging and scalping.

One of the more exciting features of this funded account program is the copy trading tool. There are some restrictions when it comes to copy trading with this platform. Expect to choose from four trading accounts.

The initial fee is refundable with the acceptable minimum balance ranging from $25,000 to $400,000. Traders get an 80% profit split which is another added advantage of trading with The Funded Trader.

Please note that the profit split on the funded trader can reach 90% depending on the success of the trader. The Funded Trader also regularly offers bonuses and promotions throughout the year with traders expecting discounts and special conditions.

There’s a typical partnership program available.

Advantages of The Funded Trader

  • Members get four account types with several sub-types available offering users a wider range of deposits or balances to trade with.
  • Traders also enjoy the ability to repeat a challenge. In case traders fail any of the phases, they can retry the challenge.
  • Use of some of the trading world’s best terminals including MT4, MT5, and TradingView.
  • Traders get to enjoy a variety of trading instruments such as commodities, currencies, gold, and indices. You get to trade cryptocurrencies during challenges.
  • There are no restrictions on applied strategies with traders having the chance to use their own advisors or EAs.
  • Traders receive 80 percent of the profit and can increase to 90% profit split.
  • The Funded Trader has one of the most intuitive dashboards helping effectuate trader’s bids.

42% of most of the traders are from the United States with the UK having 18.3 percent of all traders. India has an 8.5 percent trader representation with France enjoying 5.1%. Somalia is also well represented with 5 Percent traders with Nigeria having the same.

Other traders compile the remaining 20.1% of all traders on the platform.

Challenges The Funded Trader Prop Trading Firms

Prop Trading Firms using EAs

There are four challenges to overcome with this platform. These include standard, rapid, royal, and Knight challenges.

Each of these challenges comes with steps which we will detail below

Standard Challenge

Traders can choose between swing and regular accounts with a minimum investment starting from $5,000 and a maximum set at $400,000.

Step 1 TFT Challenge

Members get an unlimited simulated trading period with the minimum acceptable trading period set at 3 days. The challenge leverage is 1:60 with the virtual profit target set at 10%.

After passing this challenge, the next challenge is the verification challenge. There’s a refundable fee of $1,879.

Step 2 Verification

After verifying, members get the same unlimited simulating period and a minimum of 3 trading days. Leverage remains the same at 1:60.

Step 3

It’s the actual funded account with members getting an indefinite simulating period. There are no minimum set days with challenge leverage set at 1:30.

The first withdrawal is 21 days since the first trade was placed. A refund is also up for grabs for traders.

Rapid Challenge

Members get 14 days to the first payout with a balanced-based drawdown in effect. There are no minimum simulated trading days.

Royal Challenge

No limits with EAs allowed with the challenge having the best drawdown to target ratio. Simulated news trading is allowed.

Knight Challenge

You only need to pass phase one to get a fully funded account programs. Members enjoy 7 days to the first payout with no trading limits with EAs allowed.

Why choose The Funded Trader?

Prop Trading Firms using Expert Advisors

It offers more programs with one-step challenges available. The account size is way bigger than most of the competitors. The marked virtual allocation is $600K with traders allowed to manage EAs.

Phase 1 target is 8 percent with a $100K challenge price up for grabs. The platform has a 4.5-star rating on Trust Pilot and is worth considering it for your Funded Account Programs.

The Funded Trader Prop Trading Firm

Countries Accepted by The Funded Program

ALL COUNTRIES EXCEPT Cuba, Iran, North Korea, Syria, Vietnam, and Malaysia.

4. Smart Prop Trader

Smart Prop Trader fully funded account programs

Smart Prop Traders is another Prop Trading Firm that gives traders a chance to succeed thanks to the best deals and guidance. With an experienced team, Smart Prop Trader has been offering funded account program services for over 10 years.

The platform is offering undercapitalized traders a chance to invest and trade with a whopping $400K in the capital. And with a 90% profit split, it’s one of the most exciting prop firms the industry has to offer.

Members get the chance to scale their account balance with traders getting excellent trading conditions. The platform is in Austin, Texas with Blake Olson heading the firm. There’s an evaluation program that helps identify talent and ensure there’s discipline.

The evaluation program offers a two-phase challenge with realistic trading objectives set. Traders get to employ a variety of trading styles with straightforward rules available making it an easy time for traders.

One of the most enticing aspects of Smart Prop Trader has to be the profit split aspect. It’s a guarantee that 85$ of the profits will go to traders. You enjoy a straightforward withdrawal process with minimum processing time.

Members also get to enjoy monthly trading bonuses and competitions allowing efficient trading and excitement for traders. There are no country restrictions with Smart Prop Trader allowing only the best traders in the industry.

With a unique and user-friendly platform, it makes trading on the platform a breeze. You easily get to understand the dos and don’ts without much hassle. Let’s take a look at why you should consider trading with Smart Prop Trader

Advantages and Disadvantages of Smart Prop Trader

  • Members enjoy a wide variety of trading opportunities including a wide array of trading assets including commodities and stocks.
  • Smart Prop Trader offers a well-structured two-phase evaluation program with a generous 85% profit split.
  • The platform offers efficient and timely payments with an account creation system that allows withdrawals using different channels.
  • Smart Prop Trader is a vibrant community offering excellent customer support and advice from other traders.
  • Members get to enjoy transparent trading conditions with strong risk management tools available.
  • A free trial is also available for those who want to first test the challenges before making any commitments.
  • News trading is acceptable with no minimum trading day requirements.
  • Members get a scaling account option going for up to $2,500,000.

Cons of Smart Prop Trader

  • Cons include difficulty in meeting specified trading objectives and limited hours of live chat support.

Smart Prop Trader enjoys a 4.8 star rating on Trust Pilot highlighting the convenience traders get from this funded account program.

Challenges and trading objectives Smart Prop Trader

There are three challenges with the platform offering different features depending on the funded amount. Let’s take a look at each of these challenges

Prop Trading Firms that users pass challenges using EAs

Step 1 (Challenge)

It’s the first phase of the three challenges with the minimum funding set at $10,000. Members enjoy an unlimited virtual trading period with the virtual minimum trading days set at 0 days. Trading leverage is 1:100 on all assets.

The set virtual maximum daily loss is $400 with the virtual maximum loss set at $800. Members enjoy a virtual profit target of $700 with a refundable fee of $67 available. The higher the funded amount, the higher the daily loss limits and profit target set.

Step 2 (Verification

Once you pass the first phase of the challenge, members can move on to the second verification stage. In this review, we will look at a funded account of $50,000. The virtual trading period is unlimited.

Virtual minimum trading days is 0 days with the trading leverage remaining at 1:100 on all assets. The virtual daily maximum loss is $2,000 with the maximum loss set at $4,000. The virtual profit target is $3,500 for the first challenge and $2,500 for the second challenge.

There’s no refund as the challenge is free.

Step 3 (Fully Funded Account)

You’re now ready to start trading with our review looking at a vesting amount of $200,000. Members enjoy an indefinite virtual trading period with the minimum trading days not listed as this is a fully funded account.

Trading leverage on the fully funded account programs remains the same at 1:100 on smart prop trader. The acceptable virtual maximum daily loss is $8,000 with the virtual maximum loss set at $16,000.

There’s no virtual profit target set with members enjoying a refund. The available trading instruments include commodities, crypto, forex, and indices. Trading fees are incurred on all assets which is 7 USD per lot.

Members only use the MT5 trading terminal with the platform allowing EAs.

Why go for Smart Prop Trader

Prop Trading Firms accepting EAs

There are several reasons that make Smart Prop Trader a worthy prop firm. With EAs and all trading styles allowed, what makes it a better trading platform?

Smart Prop Trader is cheaper than other funded account programs such as FTMO. The platform comes with a minimum vesting price of $467. The maximum drawdown is 4 percent daily and 8 percent total.

This account-funded program has one of the highest profit split of 85 percent with no minimum trading days set. There are only 2 evaluation phases making it an easier option than others with three or more.

Members also enjoy an unlimited time period for evaluation with the profit target set at 7 percent and 5 percent respectively in the two evaluation stages. Members also get a chance to hold trade on weekends.

Please note that the platform allows all types of EAs as long as they don’t exploit the demo environment. This means Smart Prop Trader doesn’t allow any kind of grid trading, HFT, Martingale, or latency arbitrage strategies.

Once traders meet the conditions of the scaling plan, expect to get a 90:10 profit split. The platform will also add an additional 25% of funds with a payout processed within 12 days. Members have the ability to choose their preferred virtual profit split day.

Smart Prop Trader is definitely a worthy prop trading firm with investors having a chance to get access to a fully funded prop trading account.

Smart Prop Trader Overview Prop Trading Firms

Countries Accepted by Smart Prop Traders

The platform accepts traders from all over the world and they must be 18 years old and know how to trade. It’s one of the few prop trading firms thathas no member restrictions based on region.

5. E8 Funding

E8 Funding another exciting funded account programs

E8 Funding is an exciting Funded Account Programs offering investors a one-of-a-kind opportunity for prop trading. Located in Dallas, the company was founded in 2021, making it one of the latest Prop Trading Firms.

A wide of trading assets is what separates E8 Funding from the rest of the prop firms. You get to trade commodities, crypto, forex, indices, metals, and stocks. A huge account balance is another fascinating aspect of E8 Funding.

Members can start with $25,000 in funding and scale up to $300,000. With three different accounts to choose from, it gives members a chance to spread their risks and increase their funding pool.

There’s a ‘funding process’ challenge that members have to pass, with the phases having either two or three passes. It all depends on the account you choose and the funding amount you’re looking for.

Leverage is also different with the E8 Funding prop firm as it sets leverage depending on the tradeable asset. Major Forex pairs come with 1:100 leverage with exotic pairs enjoying high leverage of 1:50.

Commodities, cryptocurrencies, and indices all enjoy the same leverage of 1:50. The profit split is another enticing factor when trading with E8 Funding. Traders enjoy a profit share of 80 percent with the ELEV8 account offering a 90 percent profit split.

Another exciting feature of E8 Funding is the fact that EAs are allowed. The only imposed restrictions are related to high-frequency EAs and or abuse of the market feed. If the EA can replicate orders on a live account, then it’s a go.

Advantages and cons of E8 Funding

  • E8 Funding offers competitive leverage and commission-based spreads starting from 0.3 pips.
  • Members get to choose from four funded accounts in three base currencies.
  • 80 percent profit split payable after eight trading days followed by bi-weekly payouts.
  • Traders get to use MT4 and MT5 trading platforms which come highly recommended by all brokers and expert traders.
  • Various funding and withdrawal methods are available including credit/debit cards, crypto, e-wallets, and wire transfers.

Cons E8 Funding

  • Cons include having little details on the management team and live chat support which is offline for most of the days.
  • There’s little information on which broker E8 funding uses which opens the door for speculative brokers to entice naïve traders.

E8 Funding has a 4.8 rating on Trust Pilot with just over two years in the making. The only issue is transparency with their management and liquidity providers. Phase one is 30 days with phases two and three having 60 days of trading.

With all phases, members must meet the 5% profit target to complete the evaluation.

Challenges to E8 Funding

EAs used in some of the leading Prop Trading Firms

There are two challenges depending on the preferred account. This includes one with the E8 account and the next with the E8 Track account.

Let’s take a closer look at each of these accounts

E8 Account challenge

It has two different phases with the target being having to hit the set profit target. Members must meet the minimum profit target within the specified trading period without exceeding drawdown limits

Phase 1

The first challenge for traders is to prove that you can trade responsibly and mitigate risks. The features include a daily drawdown of 5 percent and an initial balance drawdown target of 8 percent.

Members must hit the profit target of 8 percent with the trading period set at 30 days. You also MUST trade one single day to pass this challenge.

Phase 2

With this challenge, the profit target decreases with the trading period needed to hit the profit target increasing. The details include a daily drawdown limit of 5 percent with the initial balance drawdown set at 8 percent.

Traders must hit the 5 percent profit target with the trading period extended to 60 days. You must also trade every single day to pass the objective.

E8 Track Account Challenge

It’s the challenge with three phases with the team stating it’s a lower-cost product directed to traders who are capable of managing capital. These traders won’t mind going through the extra phase of evaluation.

Phase 1

Traders must mitigate risks and trade responsibly with the daily maximum drawdown set at 5 percent. The initial balance drawdown comes with a maximum 8 percent. The profit target is a bit higher set at 8 percent.

Members must hit the set targets within the timeframe of 30 days. To pass the challenge, you must trade one single day for you to achieve the objective.

Phase 2

The requirements and rules are the same. Members face a less-than-brutal profit target and an extended trading period. The daily drawdown is 5 percent maximum with the initial balance drawdown set at 8 percent.

Members must hit the 5 percent set profit target with the trading period set at 60 days. You only need to trade one single day of the 60 offered days to pass the test.

Phase 3 Challenge ELEV8

It’s the last phase and also comes with two challenges, exactly the same as the E8 Account stage. The main difference is the scalability and profit share. ELEV8 accounts come with a scale of up to $1,000,000.

The profit share also increased to 90%. Unfortunately, E8 Funding doesn’t offer any free trials with the platform instead it offers a free repeat. Here are the scenarios that allow for a free repeat of the challenges

Prop Trading Firms using EAs during the evaluation phases

  • If you didn’t violate any drawdown rules and ended up in profit.
  • You end up with a profit target of 4 percent without breaking any rules. Members get a 14-day extension to try and hit the set profit target.

One of the exciting aspects of this platform is that it accepts news trading.

29.1% of traders are from the United States, with 16.8 percent of traders from the UK. Nigeria comes third with 7.2% traders with India having 6.9% traders. Canada has 5 percent of traders with the rest of the globe covering the other 32 percent.

E8 Funding Prop Trading Firms

Country Restrictions with E8 Funding

E8 Funding accepts traders from all over the world, however there are some restrictions. Traders from the below countries are not alowed to open an account with E8 Funding, these include;

Afghanistan, Burundi, Central African Republic, Congo, Cuba, Crimea, Eritrea, Guinea, Iran, Iraq, Liberia, Somalia, Sudan, Venezuela, Yemen, and Zimbabwe.

Affordable Tier 2 Prop Trading Firms (Recommended for Beginners)

 

Funded Account ProgramsAccount SizePhase 1 Profit Target %Phase 2 Profit Target %Maximum Overall Loss%Maximum Acceptable Daily Loss%Profit / DD RatioMaximum Daily Loss Calculation Based onLeverageMinimum Trading DaysMaximum Trading DaysTrading NewsHold Over the WeekendProfit SplitPayout CycleEAs Allowed$100K price$10K Price
15K, 25K, 50K, 100K, 200K10%5%10%5%150%Daily Balance1:1005UnlimitedYesYes80/20Bi-WeeklyYes$519$99 (59.4) 15k
5K, 20K, 60K, 100K8%5%10%5%130%Balance/Equity1:10 - 1:303UnlimitedYesYes75Bi-WeeklyYes$495Varies
25K, 50K, 100K; 250K, 500K, 1M10%Varies8%5%VariesBalance1:200UnlimitedYesYes75-90Every 30 daysYes$700Varies
5K,10K,25K,50K,100K, 200K8%5%10%5%130%Equity1:1005UnlimitedYes (but not on funded accts)Yes85/1530 Days, then Bi-weeklyYes$549$139
25K, 50K, 100K, 200K10%5%10%5%150%Relative To Balance1:300UnlimitedYesYes80/20Every 7 daysYes$499$119 12.5k
10K, 25K, 50K, 100K, 200K, 300K8%5%10%5%130%Equity/Balance1:100 - 1:30440YesYes80-90Bi-WeeklyYes on Challenges Only$560$130 (104)

1. Funded Next

Funded Next a fully Funded Account Programs

Funded Next is one of the most reliable Prop Trading Firms accepting traders from all regions. With a funding model offering a total of 10 plans, traders have a chance to scale up to a 90% profit split.

Yet again, we have fully funded account programs offering investors a chance to earn a high-profit margin. The platform allows MT4 trading platform for now but is in the making of accepting MT5.

Funded Next also has a prop trading app that gives traders a chance to partner and control their activity using smartphones. This sets aside this platform from others thanks to its ease of access with favorable trading conditions.

Founded in 2009, Funded Next enjoys a license from the Australian Securities and Investment Commission, ASIC. The prop firm has offices across the globe including the United Arab Emirates, the United States, and Southeast Asia.

Members stand a chance of receiving $200,000 in funding with a growth potential of up to $4 million. Investors get to start with a maximum leverage of 1:100 on most trading assets with a demo account available for testing the conditions.

The partner’s profit share starts from 60% to a maximum of 90%. India has the lion’s share of traders with 42.3 percent, followed by the United States with 15.7%. Nigeria has a user base of 6.4 percent, Malaysia with 6%, and Italy and France all have 5% representation.

It has a trust score rating of 4.8 from Trust Pilot.

Advantages and cons of Funded Next

Here are the pros and cons of using Funded Next as your preferred prop firm

  • The company uses a valid broker with 13 years of experience and is regulated by ASIC
  • After receiving $200,000 in funding, members can scale to up to 20 times
  • Initial profit split is 60% with successful traders earning a 90% profit split
  • The first payout is after a month of trading with subsequent payouts made 14 days after
  • Funded Next offers some of the lowest trading fees
  • Unlimited free retakes
  • Weekend holding is accepted
  • There are two challenge account types each with 5 plans and different balances
  • Traders can take advantage of the demo account to practice and finesse their trading
  • It has an affiliate program where commissions are 15% of the referral’s fee

Cons Funded Next

  • There are no free plans which puts newbie traders at a disadvantage, with the minimum balance set at $99 for $15,000 in funding
  • The prop firm fails to disclose trading fees up until the trader starts trading on the platform.

Challenges on Funded Next

There are three different models with traders having a guaranteed 15% of the profit made for their performance. These include Evaluation, Express, and Stellar challenge. Let’s take a closer look at each of these challenges

Evaluation Model

The goal is to hit very realistic profit targets with the rules including a 5% daily drawdown and a 10% overall daily drawdown. Traders must hit a profit target of 5% with minimum funding and 10% with maximum funding.

Traders withdraw bi-weekly with investors scaling up to $200,000. There are an additional 14 days to complete the challenge for those who make a profit but don’t hit the set target. Weekend holding is available with unlimited free retakes.

Express Model

With the express model, investors are to hit the 25 percent profit target with no time limit set. Once you manage to hit this profit, you get a fully funded account with a 60% profit split. Rules include an acceptable 5% daily loss and 10% overall loss.

Traders must place trades at least 10 days within 4 weeks to successfully complete the challenge. It’s a one-step assessment process with a 15% profit share from the profit made on this challenge. You can get funded in as little as 10 days if you hit the profit target.

Stellar Challenge

It’s the most recent challenge produced with clients choosing from swap accounts and swap-free accounts. The profit target is 10 percent on all accounts with the maximum daily loss set at 4 percent.

6% overall loss limit with drawdown type set on the balance-based model. Commissions incurred are $3 per lot with the trading leverage set at 1:30. Expert Advisors and News Trading are available with trade copier tools also acceptable.

There’s a reset discount on offer with all accounts having a refundable fee. It also has the fastest payout.

Why choose Funded Next

Here are the main reasons traders go for this platform, it offers a 15% profit split within the challenge itself. That means you earn as you complete the challenge which makes the Funded Next challenge model different from others.

Please note that the platform may be restrictive in some of the challenges only accepting traders from the Czech Republic, UAE, and the United States. If this prop firm works for you, make sure you sign up today for the challenge.

Funded Next Prop Trading Firms Reviews and Ratings

Countries that are accepted by Funded Next

India, USA, Nigeria, Malaysia, Italy, France, Kenya, Algeria, Morocco, Egypt, Spain, France, Canada, Austria, Germany, Hungary., Brazil, Chile, Mexico, Australia, New Zealand, etc.

Country restrictions by Funded Next

Traders from these countries are restricted from joining Funded Next; Bangladesh, North Korea, and Syria.

2. The 5%ERS

The 5%ers Fully Funded Prop Trading Firm

The 5%ers is a unique prop trading firm that stands above the rest of Funded Account Programs for one reason; unique entry conditions. You should know that the 5%ers take 50% of the trader’s profit from the bonus funds.

It offers a convenient demo account and an in-depth educational program allowing traders to quickly increase their level of trading. The platform sharpens traders and helps improve the trading strategies implemented.

It was registered in Israel in 2016 and has a wide client base globally. The platform only uses the MT5 trading terminal with loads of trading assets. Trading assets include commodities, forex, indices, metals, and stocks.

The platform fees are below market average making the 5%ers one of the more affordable prop firms. Members can get funding from as low as $6,000 to a maximum of $4 million. You can’t withdraw these funds with the withdrawal option being the profit earned.

Trading conditions include leverage of 1:30 with no margin call or stop-out features. The base currencies include AUD, CAD, CHF, EUR, GBP, JPY, NZD, and USD. Members must open an account with a minimum deposit of $85 for the education program and $235 for the standard a/c.

It has a great reputation with a 4-star rating on customer support and community engagement. There’s a hyper-growth scaling plan that enables traders to quickly boost capital levels. Gil Ben Hur is the founder of the 5%ers a boot camp program best for beginner traders.

Advantages, cons, and key features The 5%ers

Here are the pros, cons, and features available on the 5%ers

  • Trading is available in 7 currencies with over 3,000 securities available for trading.
  • Depending on the account, the minimum funding amount is $6,000
  • Beginner traders can test the conditions using a demo account and learn thanks to the available education program
  • Standard leverage is 1:10 with an increment available to up to 1:30 with an increase in deposit value from the client
  • There are no trading strategy limitations with traders using their preferred trading strategies
  • Traders have a chance to buy plans for $235 or $85 for those looking to start with a demo account
  • Additional tools to find include analytics, economic calendar, strategy ideas, and other trading tools
  • EAs are accepted

Cons The 5%ers

  • Cons include the trader having to start trading after agreeing to meet the funding conditions of the 5%ers
  • Trading positions are only opened with SL order, with the ceiling level at 2% of the trader’s current balance
  • A trader is not allowed to have more than three accounts, with inactivity for 21 days leading to the closure of such accounts

Challenges on the 5%ers

The 5%ers offers three challenge models each having its own unique set of challenges and trading conditions. Let’s take a closer look at each of these challenges

Boot camp (low-cost program)

It’s the first low-entry-cost challenge available on the platform. The challenge seeks to test the trading skills, consistency, and discipline of the trader. Traders apply for a trading seat and need to complete a 3 challenge phase on a demo account.

Entry costs for the $100K funded account are $95 and $225 for the fully funded $250K. Leverage is 1:10 with no maximum days of trade required. The maximum loss is 5% with the profit target set at 6% with a $5 hub credit available on the first challenge.

High Stakes Challenge

It comes with a 2-step evaluation with an unlimited time to pass. The evaluation phase is on a demo account with funding starting from $5,000 to a maximum of $100K. There’s a maximum profitable day set at 3 days.

Maximum daily loss is 5% with maximum overall loss at 10%. The profit target shifts from 8%, 5%, and 10% for the high-stakes trader. Leverage on all trading assets on this tier is 1:100 with scaling available up to $500,000

Hyper Growth Program

Most of the 5%ers state that this is the highest success rate prop program in history with traders scaling up to $4 million in funding. There are three entry levels $10,000, $20,000, and $40,000 in funding.

Leverage is 1:30 with three trading assets available, FX, indices, and metals. Holding indices over the weekend is acceptable but comes with a high Swap. EAs are acceptable as long as they meet the set EA conditions such as not copying trades of another person’s signals.

Why choose The 5%ers?

It offers high-leverage trading accounts with customizable trading evaluation parameters. There are zero up-front fees with the profit share explicit at 50%. The platform offers promotions and coupons during the financial year.

You get a unique milestone growth plan which is an attractive opportunity to build a trading career. It also offers low minimum trading requirements compared to other prop firms in the industry.

Most of the traders are from India, the United States, Great Britain, Thailand, Algeria, Italy, Malta, Turkey, Pakistan, etc.

The 5%ers Prop Trading Firms Ratings and Reviews

3. Surge Trader

Surge Trader Review: Features of this Prop Trading Firms

Surge Trader is one of the simplest prop trading firms for all classes of traders. With an impressive funding amount of $25,000, the platform’s headquarters is in Florida, United States. Finance is provided by the venture fund Valo Holdings.

The platform champions trader autonomy with a distinctive approach offering scaling of up to 90% profit split. There are no mandated trading days, which makes Surge Trader the perfect pitch for flexible trading strategies in a prop firm.

Surge Trader also offers a broad range of trading instruments giving traders a chance to mitigate risks. The prop firm allows all types of trading styles including algorithmic trading, hedging, news trading, etc.

One of the most enticing features of Surge Trader is the simple rules implemented on all trading accounts. Unlike other prop trading firms, the platform offers uniform trading conditions across the board.

These features include 5% daily loss limits and an 8% maximum drawdown with a 10% profit target across all levels of trading accounts. It supports all trading techniques with even a chance to improve your trading skills with an educational program.

Most of its members are from the United States (47.1%) Canada (13.02%), France (6.76%), India (4.7%), Philippines (4.52%) with the rest of the world having 29.9 percent of the lion’s share.

The platform also comes with an impressive 4-star rating on Trust Pilot.

Advantages, cons, and features Surge Trader

Here are the pros and cons with key features to find on the Surge Trader prop firm

  • The platform is reliable with funding coming from an established venture capital investment pool
  • There are no restrictions on trading strategies implemented by traders. Allowed trading strategies include algorithmic trading, hedging, Martingale, and Scalping
  • Traders earn 75% of the money earned as their high-income
  • There’s a wide array of trading assets including instruments and highly volatile crypto assets
  • No risks are involved as the platform covers all losses as long as the member meets maximum loss and drawdown requirements
  • Paper accounts are available
  • It’s one of the most loyal and transparent prop firms with all details including legal documents available to the public

Cons Surge Trader

  • There’s a high exam cost charge of $250 to $6,500 with the discount for retaking the challenges set at 20%
  • It has one of the toughest challenge conditions with a daily drawdown of no more than 5% and a maximum loss is up to 4%
  • There are no futures or options for trading
  • No refunds offered

Challenges Surge Trader

There are two evaluation processes before finally getting fully funded by Surge Trader. Let’s take a closer look at each evaluation phase

Phase 1

With six funding models starting from $25,000 to $1 million, the profit share is 90%. Clients must meet the profit target of 10% with the daily loss limit set at 5%. Leverage on all trading assets is up to 20:1.

The maximum trailing drawdown is 8% with hold and trade during the weekend acceptable. There are no time limits with the standard profit share of 75% increased to 90% with add-on purchases.

Some of the notable key features of phase 1 include a profit target with a steady 10% return with a flexibility key with holding overnight trades. Once you pass this test, the reward is a fully funded account.

Phase 2

There are five funding models available in the second phase of evaluation. The minimum funding is $25,000 with the maximum funding amount at $500,000. The audition fee ranges from $200 to a maximum of $2,300.

The standard profit share is 80% with a promise of a 90% profit split with an add-on purchase. The profit target is 5% with the daily loss limit set at 5%. Leverage on all trading assets is 50:1 with the maximum fixed drawdown set at 8%.

Notable features include lower audition fees with traders allowed to trade at their own pace. Traders also receive certificates after passing the first two stages, therefore adding credentials to their skill levels.

Some of the key features include

Hold and trade through the weekend is acceptable with no time limits set on the trading duration. Copy trading is acceptable as long as you follow trading rules.

Why choose Surge Trader?

There are various reasons why you should go for Surge Trader. These include having no restrictions to trading strategies with no risks involved with the platform covering risks. There’s a high income probability for traders.

Algorithmic trading, Bots, and EAs are allowed. The prop firm also allows copy trading, day trading, arbitrage trading, news trading, scalping, swing trading, and HFT Trading. Holding overnight is acceptable with Surge Trader failing to offer holding over the weekend.

The platform supports MT4 and MT5 trading terminals only with leverage lower than other prop firms. There are several payment features including bank and wire transfers with crypto payments also accepted.

Want to test Surge Trader? Sign up today!

Surge Trader Prop Trading Firms Comparison

Traders from these countries are accepted by Surge Trader

USA, Canada, France, India, Philippines, Australia, New Zealand, UK, Algeria, Brazil, Argentina, Kenya, Nigeria, South Africa, and Singapore. There are no country restrictios with Surge Trader.

4. Rocket21 Challenge

Rocket21 Challenge review: Prop Trading Firms

Rocket21 Challenge is another impressive prop trading firm offering investors a chance to get funded. The platform aims to develop and empower traders after passing the set challenges. With refundable fees, the platform is an ideal choice for all classes of traders.

To secure funding with Rocket21 Challenge, traders must prove their profitability through a set evaluation process. You must meet specified trading requirements ensuring those with skills get full funding.

There’s a generous profit split of 90% for traders who meet and surpass the platform-set targets. Innovative scaling plans boost the chances of earning more profits with the Rocket21 challenge prop firm funding program.

Rocket21 Challenge offers two types of funding programs including standard funding and Apollo11 funding methods. Traders must choose between either of the two before commencing the set challenges.

There’s an opportunity to scale up and get funding of up to $2 million thanks to consistent trading margins and performance. It becomes easier to increase the profit potential for traders within a relatively short time.

The profit target ranges from 5% to 8% of the initial funded account. Risk management skills are tested on all the challenges with the trader expected to meet and even surpass the set rules. You must implement maximum and overall loss limits to stay funded.

Advantages and cons of Rocket21 Challenge

Let’s take a closer look at the pros and cons of choosing this prop firm and why it would be an ideal funding platform for you

  • High leverage on trading assets is available making trading convenient for traders
  • There are no minimum trading days set on this platform or any of the challenges
  • Members also get a chance to get a refundable fee once they complete the challenges
  • There are different challenging levels that help match the skills of all classes of traders
  • Account funding can go up to $600.000 for the first challenges giving traders ample capital to invest and trade
  • Enjoy mentorship programs that impact your trading skills and help you learn a thing or two about trading in terms of discipline and trade management.
  • Rocket21 Challenge offers one of the most innovative scaling plans in the forex industry
  • Realistic profit targets are set ensuring traders won’t face problems trying to hit set targets
  • Overnight and weekend trading is acceptable with traders holding or trading overnight and during weekends to maximize trading.
  • Rocket21 Challenge accepts all trading styles

Cons Rocket21 Challenge

  • Cons include no free entry which means traders must well prepare for the challenge
  • The platform is new to the market with experience playing a huge factor in traders going for other options
  • Lack of transparency in the founder’s information or who funds the project

Evaluation Process Rocket21 Challenge

Stage one involves the R21 and Apollo challenge before investors move to the verification phase 2 stage. The third stage is the trader account after fully becoming a funded trader. And here you can scale up to the fourth stage and have a trading balance of $2 million.

Standard Funded Trading Challenge (2-step challenge)

It’s the first challenge with players having an 8% profit target to meet with an unlimited trading period set. The minimum simulated trading days allowed are 5 days with the leverage set at 1:100 for all trading classes.

The maximum daily loss is 5% with the maximum overall loss set at 10 percent. The virtual profit target is 8% as indicated earlier with members earning a refundable fee. Funding starts from $5K to a maximum of 300K.

Apollo Challenge

Traders must pass the last challenge only involving a single step. The minimum allowed trading days is 3 days with an unlimited trading time. Leverage is 1:30 with the maximum daily loss limit set at 3% of the capital funded.

The maximum acceptable overall loss is 6% with the profit target set at 9%. There’s no profit split with investors earning an 80% profit split after passing this stage. Funding starts from a minimum of $10K to a maximum of $200K.

Why choose Rocket21 Challenge

Rocket21 Challenge offers a one-step challenge less than most prop firms not forgetting a favorable plan. The platform also offers an 85/15 profit split and an unlimited evaluation time giving traders a better and relaxing time to trade.

With the two-step program comparison, the profit split remains higher than other prop firms. Customer support is round the clock with swing trading accepted. Scaling up is possible after three months of successful use therefore expanding your growth.

There’s a Rocket21 competition that’s free of charge which is a reduced version of the Rocket21 Challenge. It gives traders a chance to test their trading prowess with the same trading rules found in the evaluation process.

Despite being a new prop firm, Rocket21 Challenge already has a 4.2-star rating on Trust Pilot. Most of its traders are from the United States, Canada, Argentina, Brazil, Great Britain, Nigeria, and Algeria.

If this prop firm is for you, sign up today!

Prop Trading Firms Ratings Rocket21 Challenge

Traders from these countries are accepted by the Rocket21 Challenge

Rocket 21 Challenge doesn’t have any restrictions apart from countries imposed under the Terrorist Act including Syria, Iran, and North Korea

5. Funded Trading Plus

Funded Trading Plus Review: Prop Trading Firms

Funded Trading Plus is one of the newer prop firms founded in 2021 with its location in London, UK. The acceptable trading instruments include CFDs and Forex assets with cryptocurrency a recent addition to the trading class.

It offers 1 Phase, 2 Phase, and Instant funding options making it a reliable trading prop firm for all classes of traders. The firm allows traders to be more flexible and enjoy some of the most favorable trading conditions of any prop firm.

High leverage is available with the platform accepting all trading strategies. EAs, scalers, and swing trading is also accepted with stop losses not required giving traders a chance to scale in and out of positions while holding these positions as long as possible.

Another exciting feature of Funded Trading Plus is the fact that it offers weekly payouts, a feature unlike none other in the prop firm world. After passing the evaluation process, members are eligible for weekly payouts.

There are no maximum or minimum trading days giving traders the flexibility and trading comfort desired by every trader. Discounts and coupons are available after signing up with the platform hailed as the most improved prop-funded account program this year.

Another exciting feature is that traders can double their funding after hitting every 10% profit target. With no time restrictions or hidden rules, Funded Trading Plus can scale up your account up to $2,500,000.

Please note that the fees vary with the platform accepting traders from all jurisdictions. It comes with a 4.5-star rating on Trust Pilot.

Advantages, cons, and features of Funded Trading Plus Prop Trading Firm

Let’s take a closer look at the pros and cons of Funded Trading Plus

  • Instant funding is available which is a first-of-its-kind
  • Scaling of up to $2.5 million with one of the fastest evaluation times
  • There’s no time limit for evaluation meaning traders can take time to hit set profit targets
  • News trading, overnight and weekend holding is allowed
  • The platform allows EAs and all trading styles as long as they meet the prop firm’s trading requirements
  • The platform offers fast customer support available 24/7
  • Generous profit split of up to 90%
  • Evaluation challenges suitable for beginners and expert traders
  • Compatible with MT4 and MT5 trading terminals

Cons Funded Trading Plus

  • Maximum drawdown can be challenging for traders
  • It has an expensive no-evaluation program
  • There’s no free trial
  • The prop firm fails to provide free repeats instead offering a reset at a discounted price
  • Arbitrage and grid trading are considered abusive and utterly forbidden

Challenges Funded Trading Plus Prop Trading Firm

Let’s take a closer look at the two evaluation stages with challenges

Evaluation Type

One Phase

Members enjoy unlimited maximum simulated trading days with no split profit margins to earn. The simulated profit target is 10% with leverage set at 30:1. Maximum overall loss is 6% with the daily acceptable loss set at 3%.

EAs are allowed with the lot size limited only by the simulated margin. Hold over the weekend is allowed with a refundable fee of $499. Funding starts from $15,000 to a maximum of $250,000. Refunds for the funded account are 10% of the simulated profit.

Two-Phase

Phase 1

The first phase of the two-phase challenge offers an unlimited trading day with the profit target set at 8%. Leverage is 30:1 with the maximum overall simulated loss at 8%. The daily acceptable loss is 4%.

EAs are acceptable with lot size only limitation is by trading margins with hold over the weekend acceptable. Stop loss is not necessary with a refundable fee of $547 available. Account funding starts from $25,000 to a maximum of $200,000.

Phase 2

It’s the second phase of the project offering nearly the same features as phase one. You get unlimited trading days with a profit target of 5%. Maximum leverage on all trading instruments is 30:1 with the overall maximum loss at 8%.

Acceptable daily loss is 4 percent with EAs acceptable. Hold over the weekend is acceptable with this being a free account after passing phase 1. Once you pass this stage, expect an 80/20 profit split with the real funded account.

Program Type

There are two phases on the program type, advanced and the newly added premium type. Advanced offers an 80/20 profit split with scaling going to 90/10. The profit target is 10 percent with funding starting from $25,000 to $200,000.

Premium funding phase has no evaluation with the profit split at 70/30. Scaling is possible to a 90-profit split ratio with a relative drawdown set at 5%. The account funding ranges from $5,000 to a maximum of $100,000.

Members must pay a one-time fee of $225 to $4,500 based on the account size. Traders can get a refund of 10 percent of the simulated profit with a minimum withdrawal limit of $50. The scaling pan is every 20 percent of the profit you earn.

Why choose Funded Trading Plus as a preferred prop trading firm

Funded Account Programs Comparison FTMO vs Funded Trading Plus

Above is a table highlighting the features between Funded Trading Plus and FTMO. It shows a clear distinction between the two;

If you would like to sign up with Funded Trading Plus, do so today, the platform offers coupons and discounts

Funded Trading Plus Reviews and Ratings

Traders from all over the world are accepted by Funded Trading Plus including United States, Canada, Estonia, Denmark, the UK, France, Germany, Hungary, Netherlands, Nigeria, Kenya, India, and Taiwan.

The only restrictions are North Korea, Iran, and Syria

6. TopTier Trader 

TopTier Trading Prop Firm Funded Account Programs

TopTier Trading is a favorable low-risk prop trading firm offering conditions deemed more profitable to traders. The prop firm stands above the rest for the favorable trading conditions available with a refundable initial fee.

Traders can receive funding of up to $300,000 at the start, making TopTier Trader one of the best in the business. Traders face almost no restrictions during the evaluation and trading process making it a comfortable trading tool for all traders.

Clients can trade any number of trading days within a given cycle and utilize several acceptable trading strategies. Holding positions is also another important aspect that makes this prop firm a desirable investment venture.

What makes this platform a not-so-diverse prop trading firm is the restriction on Advisors. Firm partners fail to get any additional funding on regular accounts making scaling up a thing of the past.

Traders do keep 80% of the profit with scaling available to a maximum of 90%. Scaling is only a subject when traders have been successful for several consecutive months. Other than that, the platform does offer competitive conditions.

Located in the Miami, Florida, United States, Top Tier Trader does impose some trading restrictions on traders in certain parts of the world. Some of the prohibited countries include all sanctioned countries or those under the OFAC sanctions.

Advantages and Disadvantages of TopTier Trader Prop Trading Firm

Let’s take a closer look at some of the pros and cons of TopTier Trader

  • There are three account groups each with four balance options allowing traders to use different trading strategies on each
  • Traders earn 80% of the net profit from the first day of trading to 90% of the profit with a live account
  • Members get a large array of trading instruments including commodities, cryptocurrencies, and indices.
  • Drawdown conditions remain the same in all challenge phases, 5% daily drawdown and 10% overall drawdown.
  • MT4 trading terminal is in use which makes it possible to trade on the go with a mobile app
  • Technical support is available through chat and email and most importantly, via a call center
  • Challenges on TopTier are simple with traders not needing exceptional trading experience to pass the evaluation phases.

Cons TopTier Trading Prop Trading Firm

  • Cons include not having a balance scaling project with regular accounts which means there’s no way of increasing funding
  • The lack of other trading terminals such as cTrader is another con
  • Not using EAs once you get a live account is a major problem

Evaluation TopTier Trader Prop Trading Firm

Let’s take a look at the available two-tier challenge phases

Top Tier Challenge

Regular Accounts

The minimum trading days are 4 days for top tier 1 and 2 with the challenge leverage set at 1:100. There’s an acceptable maximum overall loss of 10% with the maximum daily loss set at 5%. The profit target is 10% of the funded amount throughout the duration of the challenge.

Weekend holding is not available with restrictions on EAs on all tiers with the regular account. A refundable fee of $55 for the tier 1 challenge with a full refund once you pass the tier 2 challenge and get a live account.

Funding starts from $5K to a maximum of $300K.

Swing Accounts

The minimum acceptable trading days is 4 days with the challenge leverage at 1:30 for all tiers. There’s an overall loss of 10% of the funded amount and the maximum daily acceptable loss is 5%.

The profit target is 10 percent for the tier 1 plan and moves to 5% after successfully completing the first challenge. Weekend holding is available with restrictions on EAs and a refundable fee of $55 for the first challenge.

Funding starts from $5K to a maximum of $300K.

Top Tier Challenge Plus

The maximum trading days remain at 4 days with the challenge leverage at 1:100. 8% is the acceptable maximum overall loss with a 5% acceptable daily loss limit. The profit target for Tier 1 is 8% and 5% for Tier 2.

With this challenge, weekend holding and EAs are acceptable. Refundable fees are $65 for the first tier and a full refund with the third live account. Funding starts from $5K to a maximum of $300K.

TopTier Trader Plus Country Restrictions

Due to OFAC sanctions, the following countries are not supported, including Afghanistan, Belarus, Cote d Ivoire, Congo, Cuba, Iran, Iraq, Lebanon, Libya, Mali, North Korea, Russia, Somalia, Sudan, Syria, Venezuiela and Yemen

Why choose TopTier Trader

Funded Account Programs TopTier Trader

There are traders who prefer not to use EAs and this prop firm offers you such a feature. With a coupon, TopTier Trader is affordable than most of the other prop firms. The maximum simulated drawdown matches all other prop firms in the business.

Payout split is another factor that makes Top Tier Trader a worthy platform as it sticks to the 80/20 rule. There are two evaluation phases that make the platform a fast profit target prop firm to engage in.

Simulated targets are realistic with traders taking their time to achieve thanks to no evaluation time restrictions. Holding trades on the weekends is another feature that makes TopTier Trader a better prop trading firm.

Coupons and discounts are a great way to open an account and start trading at an affordable price. The platform occasionally offers contests between partners making it a highly competitive and profitable prop firm.

TopTier Trader Prop Trading Firms

Key Features to Consider When Selecting Your Preferred Prop Trading Firm for your Funded Account PROGRAMS

Scaling plans have to be one of the biggest enticing factors when selecting which prop firm to go for. You also need to check on the restrictions imposed on such platforms. Risk-free simulated trading is another feature that traders should consider.

Funded Account ProgramsAccount SizePhase 1 Profit Target %Phase 2 Profit Target %Maximum Overall Loss%Maximum Acceptable Daily Loss%Profit / DD RatioMaximum Daily Loss Calculation Based onLeverageMinimum Trading DaysMaximum Trading DaysTrading NewsHold Over the WeekendProfit SplitPayout CycleEAs Allowed$100K price$10K Price
10K, 25K, 50K, 100K, 200K10%5%10%5%150%Daily Balance1:1004UnlimitedNoNo80/20Bi-WeeklyYes€540€155
10K, 25K, 50K, 100K, 200K8%5%10%5%130%Equity1:1005UnlimitedYesYes80/20Bi-WeeklyYes€499€89
50K, 100K, 200K, 300K, 400K8%5%10%5%130%Equity/Balance1:1005UnlimitedYesYes80/20Monthly -> Bi-WeeklyYes (on royal)$489$129
10K, 25K, 50K, 100K, 200K7%5%8%4%150%Equity1:1000UnlimitedYesYes85/15Bi-WeeklyYes$467$67
25K, 50K, 100K, 250K8%5%8%5%163%Equity/Balance1:100030/60YesYes80/20Bi-WeeklyYes$588
15K, 25K, 50K, 100K, 200K10%5%10%5%150%Daily Balance1:1005UnlimitedYesYes80/20Bi-WeeklyYes$519$99 (59.4) 15k
5K, 20K, 60K, 100K8%5%10%5%130%Balance/Equity1:10 - 1:303UnlimitedYesYes75Bi-WeeklyYes$495
25K, 50K, 100K; 250K, 500K, 1M10%N/A8%5%N/ABalance1:200UnlimitedYesYes75-90Every 30 daysYes$700
5K,10K,25K,50K,100K, 200K8%5%10%5%130%Equity1:1005UnlimitedYes (but not on funded accts)Yes85/1530 Days, then Bi-weeklyYes$549$139
25K, 50K, 100K, 200K10%5%10%5%150%Relative To Balance1:300UnlimitedYesYes80/20Every 7 daysYes$499$119 12.5k
10K, 25K, 50K, 100K, 200K, 300K8%5%10%5%130%Equity/Balance1:100 - 1:30440YesYes80-90Bi-WeeklyYes on Challenges Only$560$130 (104)

3. Ultimate Guide for Choosing or Comparing Prop Trading Firms

  • Having Defined Goals

Defining your goals is a crucial step before choosing Prop Trading Firms. Do you value quality over everything else? Are you concerned with finding a firm offering low fees and tight spreads? You need to take time to determine your priorities.

Once you have a well-defined goal, you can move forward with choosing your preferred prop trading firm. In this case, if you’re looking for quality over everything else, we recommend FTMO.

FTMO offers quality over everything else with one of the best and most transparent payment systems. It also offers generous conditions for its traders with ample support. You also pay a one-time fee only.

  • Regulation and Safety Prop Trading Firms

The most common regulatory framework for prop firms include CySEC, FCA, and ASIC. You need to determine the legitimacy of Prop Trading Firms before moving forward. One of the best regulated platforms has to be True Forex Funds

The platform is regulated under the Hungarian government and offers transparency for necessary documents. And this means investors are traders are protected from any abuse pertaining to investing and trading.

Depending on the platform, regulatory framework depends on the jurisdiction. We found True Forex Funds to be one of the best regulated prop firms the industry has to offer. It complies with relevant laws found in most countries.

  • Trading Instruments

You need to find out some of the trading assets available during the challenge and after completing the evaluation process. Some of the platforms may change assets once you finally get a live account.

In this aspect, we recommend True Forex Funds as it offers a variety of trading instruments. This means traders get to mitigate risks through different asset classes and ensure they place winning trades.

Some of the trading instruments to look out for include commodities, cryptocurrencies, energy futures, equity futures, agricultural futures, interest rate futures, metals futures, stocks, indices, not forgetting crypto futures.

  • Funding Program Types Available in Prop Trading Firms

Traders must find out the funding types available during and after the challenge. Some of the prop trading firms tend to tilt funding conditions during each phase of funding. You need to know the rules of the game before playing.

Is the platform offering instant funding, one-step funding, two-step funding, or three step funding model. Find out the funding program types before deciding on the way forward. It gives you ample time to consider your option.

Our recommended prop firm in terms of funding program is The Funded Trader. The platform offers a four challenge program with a higher fund allocation of $600k. It’s worth considering as the profit targets for these challenges are realistic.

  • Challenge rules found on Prop Trading Firms

For all prop trading firms, they offer different program and program types on set challenges. You must compare all aspects including the buy-in option and the profit target. Other factors to consider include drawdown and acceptable daily and overall losses.

Few traders take time to consider aspects such as maximum and minimum trading days. You must access all challenge rules before moving forward. What’s the profit split and will you earn profit during or after the challenge?

In the challenge rule aspect, we found Smart Prop Trader to have a well-structured and generous two-phase evaluation program. Members also get a free-trial for those needing to test the challenges first and the set conditions.

  • Overall Reviews and Ratings of Prop Trading Firms from other traders

Find out from other traders whether the prop trading firm of your choosing is the right one. Traders usually carry out reviews and ratings of different prop trading firms as shown above. That gives you a rough idea of what to expect with the platform.

TrustPilot will give detailed review of traders with other brokers also sharing their experiences through social media platforms. It pays to do due diligence and go for the most recommended and trusted prop trading firm designed to suit your needs.

When it comes to overall reviews, we highly recommend E8 Funding as most traders like it for the challenge difficulty rates. Bi weekly payment structure is another enticing feature that makes E8 the best in terms of customer reviews.

  • Free Trial, Free Repeat, and Free Reset Options

What happens when you fail your first or second challenge? Does the prop trading firm you go for offer free trials, free repeats, or free reset options? Most don’t while others prefer to offer discounts for repeat or reset modes.

Traders blindly sign up without looking at these crucial aspects. Will the prop trading firm shut down your account or hit reset if you don’t meet the set targets? What of you meet all requirements but fail to hit the profit target by a mere 1%?

Funded Next is the prop trading firm we recommend based on the unlimited free retakes available. That gives traders ample time to master their craft and ensure they pass the challenges without having to pay extra for free repeat and reset modes.

  • Trading Styles Allowed by Prop Trading Firms

Compare and contrast some of the trading styles allowed by your preferred prop trading firms. Does the prop trading firm accept scaling and swing trading? What about copy trading and news trading?

Is the prop trading firm having restrictive rules on copy trading aspects? You need to find the prop trading firm’s rules and terms when it comes to trading styles. We prefer going for prop trading firms that allow EAs/Algos/Bots.

There are some prop trading firms that will allow EAs but have restrictive trading styles for such. When it comes to our preferred trading styles and best prop firm, we have to go with The 5%ers. There are no trading style limitations with EAs accepted.

You will also find additional analytical tools such as Analytics, economic calendar, strategy ideas, etc.

  • Trading Hours

Does the prop firm you go for accept holding trades overnight and/or over the weekend? If not, will this impose some trading restrictions on your part? You need to find the rules involved when it comes to trading hours.

Most of the prop trading firms do accept holding trades overnight and during the weekends. There are some that change the rules by imposing high SWAP fees for holding trades which might be a disadvantage for traders.

Surge Trader is our recommended prop trading firm when it comes to offering the best trading hours terms. You get a prop trading firm allowing all types of trading styles with no limitations on holding overnight or weekend trades.

  • Available Trading Platforms offered by Prop Trading Firms

Another important aspect of prop trading firm features worth investing your time is with available trading platforms. Most of the platforms offer acceptable and world-class trading terminals such as MT4 and MT5.

There are traders who prefer to go for other notable trading platforms such as cTrader or a customized platform. With MT4 and MT5, traders can trade on the go thanks to the mobile version therefore giving traders customized options.

When it comes to trading platforms on prop trading firms, we highly recommend Rocket21 Challenge. The platform offers high leverage and trading assets all available on different trading terminals not forgetting an innovative and easy to use and understand platform.

  • Leverage set by Prop Trading Firms

Leverage is another important factor to consider when comparing and selecting prop trading firms. There are some prop trading firms that entice users by offering big account funding sizes for marketing purposes with little leverage.

You need to find a prop trading firm offering leverage of 1:50 and above especially for most of the trading assets. Other prop trading firms may offer a small leverage for one trading instrument which might work for some traders.

TopTier Trader is our preferred prop trading firm thanks to its uniform approach in offering leverage. The platform offers a maximum leverage of 1:100 on all trading instruments. That gives traders a clear line of sight when trading.

  • Payment Types offered by Prop Trading Firms

You need to find out the payment cycles and types of channels used to make payment. Go for prop trading firms offering a wide array of payment options. You need to understand the terms of service first before deciding.

The best prop trading firms offer credit/debit card payment options, wire transfers, and most importantly crypto payment methods. You need to decide how you want to get paid and when as it gives you options in case of delays.

We recommend Funded Trading Plus when it comes to payment options. The platform offers credit/debit card payment methods (MasterCard and Visa) and crypto payment methods. You also need to consider how long processing takes for payments.

Withdrawal process should be a couple of hours with the maximum possible processing time 48 hours.

Fastest Way to Get 100K Funding from Prop Trading Firms

Here’s the price comparison of Top Tier 1 Prop Trading Firms

Prop Trading Firms$10K Account PriceFunded Account Sizes in $Phase 1 Profit Target
€15510K, 25K, 50K, 100K, 200K10%
€8910K, 25K, 50K, 100K, 200K8%
$12950K, 100K, 200K, 300K, 400K8%
$6710K, 25K, 50K, 100K, 200K7%
$22825K, 50K, 100K, 250K8%

100K Funding (Price List) Top Tier Prop Trading Firms

Prop Trading FirmsPrice for $100K AccountAccount Funding SizesPhase 2 Profit Target
€54010K, 25K, 50K, 100K, 200K5%
€49910K, 25K, 50K, 100K, 200K5%
$50050K, 100K, 200K, 300K, 400K5%
$46710K, 25K, 50K, 100K, 200K5%
$58825K, 50K, 100K, 250K5%

Our Recommended Forex Trading Expert Advisors (EAs) for Prop Trading (Forex Funded Account Programs)

Want to pass Prop Firm Trading Challenges? Don’t want to trade by yourself or risk your own personal money in trading? Then check out these trading robots/EAs that ensure you get high win rates whether trading on a personal portfolio or on a prop firm:

Software/Managed Account Trading/Training ProgramTypeBeginner FriendlyInvestment/CostNotable Features
AI EA Forex Trading RobotYes$1,620- Powered by AI
-Integrates machine learning
Auto Forex Trading RobotsYes$1,665- Offers 3 risk management settings
- Offers multiple currency support
Not sensitive to spreads and slippage
ProfitfarmersAuto Forex Trading RobotsYes$1,665- Fully automated for gold trading
- Lifetime license and updates
- Flexible customization options

1. Perceptrader AI

Accurate and High Quality EA for Prop Trading Firms

A proven product from Valerie Trading, Perceptrader AI helps traders unpack the full potential of utilizing AI for earning potential high-profit margins.

Perceptrader is a cutting-edge grid trading system leveraging the power of Artificial Intelligence and utilizing deep learning algorithms to predict where market prices are heading.

Features of Perceptrader AI

  • Powered by Artificial Intelligence
  • Integrates machine learning with ChatGPT/Bard algorithm allowing skip trading in case of higher probability
  • Utilizes big data, mathematical computing, and price prediction models
  • Incorporates the latest AI technology with the robot being in development for years before its release
  • Has been profitable for 48 consecutive months with traders having a chance to verify the performance
  • Offers an innovative feature called ‘Unique trades’ offering unique trades to traders
  • Comes with a 14-day free trial

2. Waka Waka

Affordable EA for Forex Prop Trading Firms

One of the most profitable and reliable Forex Expert Advisors, Waka Waka is compatible with MT4 and MT5 trading terminals. It uses an advanced grid system and has been working on real accounts for years.

The EA works with AUD/CAD, AUD/NZD, and NZD/CAD currency pairs using a 15-minute time frame. This EA was developed by Valerie to exploit existing market inefficiencies.

Features of Waka Waka

  • Offers a one chart setup with traders only needing one chart to trade all symbols therefore making placing trades easier
  • It offers multiple currency pair support
  • There has been solid backtesting and live performance with traders getting a chance to verify performance on MyFxBook
  • Very easy to use and implement with a mere three lines of instructions to get started
  • Highly affordable and offers far superior quality services compared to other EAs
  • Offers an exceptional money management risk setting enabling traders to trade with discipline
  • Stays operational 24/5 searching for profitable trades and is devoid of emotional instability
  • You get 3 different risk management profiles/settings
  • NOT sensitive to spreads and slippage

3. Golden Pickaxe EA

Best EAs for Forex Prop Trading Firms

Available for MT4 and MT5 trading terminals, Golden Pickaxe uses a mean-reversion of grid trading system that incorporates machine learning technology.

This EA only works with XAU/USD (gold pair) and uses real market inefficiencies to its advantage.

Features of Golden Pickaxe

  • It’s a fully automated gold trading bot
  • Comes with 5 predefined set files offering different gold trading strategies
  • Backtesting and verified performance offers transparency of the bot’s profitable run
  • Allows traders to retrain Neural Network on the broker’s data
  • Offers advanced news and stock market crash filters to protect and well-inform traders
  • Members get flexible customization with several filters and options available
  • Compatible with at least 10 MT4 and MT5 accounts
  • You get a lifetime license with free updates after purchasing

Choose any of these EAs for your Funded Account Programs and start scaling up thanks to these expert advisors.

FAQ on Prop Trading Firms

My Forex Funds Contact Details Prop Trading Firms

1. How do you calculate profits?

Each trading platform or firm has its set of profits. You should know the profit split percentages before choosing the prop firm.

2. How do I learn forex trading?

There are hundreds of learning materials out there you can use to get knowledge on forex trading.

3. Is there several limits you can pause your trading account?

You have to give genuine reasons why you pause your trading account.

Verdict on Prop Trading Firms

Evaluation vs Instant Funding, which is better?

TypeProsCons
EVALUATION- Fees are lower than those of instant funded accounts
- In some instances, there are no fees incurred
- If you fail an evaluation, there's a chance to try again.
- The profit split for an evaluation funded account is higher.
- Evaluation Trading firms may allow traders to trade with a larger amount of capital.
- There's a higher level of trust with evaluation prop firms after you pass the challenges.
- You have to Jump more hoops to get trading started.
- Some traders find the evaluation process stressful.
- Limited trading strategies may prohibit traders from meeting profit targets.
- Multiple Evaluation fees may take its toll.
INSTANT FUNDING- No Evaluation to worry about.
- Skipping Evaluation means you start profiting immediately
- Traders get the chance to pick several accounts with different capital amounts.
- Without any transition, large funds may overwhelm some traders.
- Higher fees to pay for the funded account program
- Traders get a lower amount of capital funding.
- Profit share is likely lower.
- It takes longer to grow the account.
- The prop firm has less trust in you, meaning a shaky relationship in the beginning.
TypeProsCons

Any of our listed firms above is ideal; go for any of them and start your road to achieving financial independence with prop farming or trading your personal account.

There are countless options when it comes to choosing affordable and reliable Prop Trading Firms that accept EAs.

To make it easier, we will give you our honest opinion/summary depending on the features to look out for such as getting 100K Funding, Profit Ratio earned, etc.

a. Account Sizes 10K to 100K Prop Trading Firms

Traders want Prop Trading Firms to offer the best funding possible with the least number of challenges. We have compiled a list of the best account sizes and number of challenges to pass to get this platform.

Small funding 5K minimum

Prop Trading FirmsMinimum FundingProfit Target
$5K5%
$5K5%

Regarding account size, we highly recommend The 5%ers and Rocket21 Challenge for those looking for minimum funding of 5K.

For those looking for high funding, we recommend The Funded Trader, Surge Trader with funding from up to $400K with scaling up going to $ 2 million.

Prop Trading FirmsMaximum FundingHighest Profit Target
$400K8%
$1 Million10%

b. Phase 1 and 2 Profit Target

It’s ideal to check the profit target of Prop Trading Firms before deciding which one offers the more realistic targets to hit.

We recommend True Forex Funds and The Funded Trader based on their unique approach to offering realistic profit targets for phases 1 and 2.

Prop Trading FirmsPhase 1 Profit TargetPhase 2 Profit Target
8%5%
8%5%

c. Maximum Daily and Overall Acceptable Losses Prop Trading Firms

Traders must adhere to the allowed daily and maximum losses to meet the Prop Trading Firms guidelines.

We looked into the acceptable losses that were feasible and acceptable to even newbie traders when selecting the preferred prop trading firm.

Prop Trading FirmOverall LossDaily Acceptable Loss
8%4%
8%5%
8%5%

d. Profit Split offered by Prop Trading Firms

Another important factor to consider when checking out these platforms is the profit split on offer.

We considered prop trading firms that offer high profit splits on each round of funding, and our recommended platforms include Smart Prop Trader with 85/15 profit split and Top Tier Trader with 80-90% profit split.

Prop Trading FirmPhase 1 Profit SplitPhase 2 Profit Split
85/1590/10
85/1590/10

e. EAs on board

All of the Tier 1 and Tier 2 Prop Trading Firms accept EAs with some offering strict conditions. Kindly check the terms and conditions before choosing your Prop trading firm and any of the above EAs.

Final verdict on Prop firms and EAs

Overall, considering every feature we have talked about on this page regarding prop trading firms (and prop farming), recommended EAs to use etc, we consider FTMO to be our #1 choice overall because even though their prices are not the cheapest, they are the most reputable in the industry with an encouraging list of features to entice most beginner or professional traders.

You can also use your EAs with them without any hiccups.

They of course have challenges/verifications to pass but it is well worth it when passed as you could scale your profits to the highest margins all while having the peace of mind that your money would come through when you request for a withdrawal.

Above all, every other prop firm on this list is a good choice in terms of reputability and trustworthiness and they have almost the same features as FTMO with some having clear advantages over them. You can make your choice depending on what suits your trading style the best.

We encourage you to bookmark this page as we will be periodically adding some coupons and discounts available for some of the above Prop firms when they become available.

If you have any questions, feel free to leave a comment or email our support team. We would be glad to help you with any queries.

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