Top Prop Firms and Forex Funded Account Programs (With Challenges)

Top Prop Firms and Forex Funded Account Programs (With Challenges)

Table of Contents

What Funded Account programs are right for expert and newbie traders?

Software/Managed Account Trading/Training ProgramTypeBeginner FriendlyInvestment/CostNumber of EvaluationsFeaturesProsCons
Fund ManagementYesVaries2- Available platforms include cTrader, MT4, and MT5
- No limits to trading styles
- One-time fee only
- Leverage 1:100
- Keep 90% of the profit after split- Less Regulation
- Trading fees may be high
Fund ManagementYesVaries3- 5% daily drawdown
- 8% profit target phase 1
- No trading restrictions
- 5 trading day minimum
- Payout 75% after first month, 80% after second month, 85% after third month for each month after- More trading hours
- Involves high trading fees incurred

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 earning 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.

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.

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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.

You must sign up with the best FUNDED ACCOUNT PROGRAMS 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 funded account programs 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 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 Proprietary Trading

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.

Software/Managed Account Trading/Training ProgramTypeBeginner FriendlyInvestment/CostNumber of EvaluationsFeaturesProsCons
Fund ManagementYesVaries2- Available platforms include cTrader, MT4, and MT5
- No limits to trading styles
- One-time fee only
- Leverage 1:100
- Keep 90% of the profit after split- Less Regulation
- Trading fees may be high
Fund ManagementYesVaries3- 5% daily drawdown
- 8% profit target phase 1
- No trading restrictions
- 5 trading day minimum
- Payout 75% after first month, 80% after second month, 85% after third month for each month after- More trading hours
- Involves high trading fees incurred

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

#1. FTMO

FTMO Funded Account programs

The idea of FTMO as a funded account program 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.

#2.  My Forex Funds

MY Forex Funds Funded Account Programs to get

Founded in 2020, My Forex Funds is growing to become one of the industry’s best Funded Account Programs.

“Your Success is our Business” is My Forex Funds business motto, with the platform becoming a leading funded account trading program.

Traders can earn as professional traders by choosing one of the available trading funds.

My Forex Funds has multiple programs that are also viable for newbie traders. You have to choose one program and start trading.

The firm lets you earn bonuses and later split the profits.

Advantages of using My Forex Funds

Traders get the chance to trade with the world’s top prop firm and make a real difference to the forex industry.

The platform constantly invests in cutting-edge technology to help create the best possible trading environment for traders.

How to get started with My Forex Funds

How to Get My FOREX Funds

Step 1:

Traders get to select their preferred platform, with My Forex Funds availing MT4 and MT5 trading terminals.

Step 2:

Purchase a program and get your forex-funded account instantly upon choosing the preferred fund account programs.

Here are some of the bonuses on offer with My Forex Funds

With Phase One, traders earn 2 percent of their trading profits by passing Phase 1 and pump the commission to 4 percent after passing Phase 2.

My Forex Funds pays a 112 percent refund when traders reach the first profit split. It means My Forex Fund gifts traders after reaching a new milestone.

With the VIP trading program, members get a 90 percent profit split with withdrawals at any time upon request.

And the withdrawal request for VIP trading platforms is usually processed within 10 hours. Unlike other Funded Account Programs that process after a few days.

Experience level needed for fund account programs with My Forex Fund

Based on your experience, the platform offers traders a chance to get in. These are the three trading levels traders choose when engaging with My Forex Fund

1. Rapid

Traders need to have some trading knowledge when it comes to choosing this level. It’s basically the entry level for anyone wanting to try out fund management services.

Traders get a $500 daily drawdown with an overall drawdown of $1,200, with leverage set at 1:500.

There’s a refundable registration fee of $99 with no monthly fees. The minimum trading days this prop firm sets is 3 times a week.

2. Evaluation

Experienced traders have this option available with a profit split set at 85 percent, with generous drawdown limits available as well.

Daily starting drawdown is $1,000, with the overall drawdown set at $2,400. There’s a refundable registration fee of $189.

3. Accelerated

This is the account for a trader who trades full-time for a living. Members get industry-leading profit split and speedy upscaling.

The daily starting drawdown is $2,500, with the overall drawdown set at $6,000. Traders pay a refundable registration fee of $399.

How to sign up with My Forex Funds prop firm Funded Account programs

4. Custom funded account program

The daily drawdown for this account is $5,000, with the overall drawdown set at $12,000. Leverage is also set at 1:500 with this account,

There’s a refundable monthly fee of $749.

Why we recommend My Forex Funds

It’s one of the easiest ways for beginner traders to turn pro with proprietary trading firms quickly.

Get My Forex Funds today.

Some testimonials support why My Forex Funds is what you need to get.

FAQ on Funded Account Programs

My Forex Funds Contact Details Funded Account Programs

1. How are profits calculated?

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 Forex Funded Account Programs

Either of the two listed firms is ideal; go for any of them and start your road to achieving financial independence.

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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