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A prop firm can make a great asset for an aspiring trader. If you lack the capital to trade significant amounts of money, for example, prop trading firms help by supplying funded stock trading accounts.
This article will take a look at six of the best prop trading firms so you can learn which might be the best fit for you.
TopStep Trader
One of the most popular prop firms is TopStepTrader. So long as you are eligible for an account, you will get to trade in a live account with real money.
To be eligible for a funded account, however, there are a few key steps. First, you have to pass the Trader Combine, which is a simulated trading competition designed to assess your skills as a trader. After that, you move on to the Trader Bootcamp, which is about teaching the psychology behind trading as well as risk management strategies.
One aspect that sets TopStepTrader apart from some other prop firms is the flexibility they offer. For example, you can select a Day Trader account or Swing Trader account depending on your preferences.
As with most (if not all) prop firms, you have to meet certain criteria in order to receive and keep your funding.
Click here to check out TopStepTrader and learn more about their unique funded account offerings.
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FTMO
FTMO is another prop firm offering funded accounts to traders who meet their eligibility criteria. The process to gain eligibility, as with TopStepTrader, involves two parts.
With FTMO, you must first pass the FTMO Challenge, which requires that you demonstrate your profit-earning abilities with a simulated account. Next, you pass the Verification phase by trading in a live account with an increasing amount of funding.
One great feature of FTMO is that they emphasize news trading, which is common among day traders. The idea is to analyze and react to national and international economic events, company financial news, etc. “Trading the news” is helpful when looking to profit off short-term market movements and volatility, and FTMO leans into this strategy.
FTMO has a strong track record, including receiving repeated placement among Deloitte’s Technology Fast 50. If you want to explore FTMO’s offerings and take advantage of a free trial, simply click here.
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Earn2Trade
Earn2Trade is another popular prop firm that supplies funded trading accounts to eligible traders. The Trader Career Path program offered by Earn2Trade involves undergoing an educational program. This positions aspirational traders well so that they have a better chance of passing the evaluation process.
Whether you’re a beginner or an experienced trader, Earn2Trade’s educational program is a robust and wide-ranging offering that covers a lot of ground. You’ll learn about forex trading, stock trading, the psychology of trading, and much more.
Earn2Trade’s Trader Career Path program ensures that traders gain the financial knowhow necessary to successfully trade. Once you pass the test, you can upgrade your live accounts, scaling up eventually to $400,000.
Right now you can take advantage of a discount to start the Trader Career Path for 40% off.
OneUp Trader
OneUp Trader, as its name suggests, aims to have a leg up on its competition. A fast-growing prop firm, OneUp provides a variety of funded trade accounts, from $25,000 to $250,000.
While many prop firms require a two-part or three-part (or more) evaluation process, OneUp Trader has a straightforward one-step process. This enables eligible traders to get up and running quickly. Once you start trading, you need to trade at least fifteen days to meet your profit target. Once you do so, you’ll receive placement with one of their funding partners.
Other benefits to OneUp Trader include its robust analytics, its support for many trading platforms, and its lack of data fees (common to other prop firms).
With a 4.7/5 score on TrustPilot, OneUp has a strong track record. To check it out, simply click here so you can learn more and start your free trial.
Fidelcrest
Fidelcrest offers funded accounts where traders can access a huge variety of assets, including stocks, indices, commodities, and forex. Initially started by forex traders, Fidelcrest aims to fund promising traders so they can start generating significant profits.
To get into the Pro Trader Program, you have to demonstrate your trading savvy by completing their two-step evaluation process. First you complete the Fidelcrest Trading Challenge, which is a 30-day trial period. Next, there’s the Verification phase, which is similar but requires 60 days.
There’s also the Micro Trader Program for beginners who would like to test their skills before taking on a large account. These accounts range from $10,000 to $50,000, while the Pro Trader accounts range from $150,000 all the way up to $1,000,000.
Top features of Fidelcrest include the ability to scale up to $2,000,000 and the fact traders keep 80-90% of their profits. The account pricing is also competitive with other prop firms.
Click here to explore Fidelcrest and start their Trading Challenge today.
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AudaCity Capital
AudaCity Capital, a globally recognized prop trading firm based in London, is known for its dedication to fostering and cultivating talented traders. The firm offers two distinct programs for traders at different stages of their trading journey: the Funded Trader Program and the Ability Challenge.
The Funded Trader Program is designed for seasoned traders who have a proven track record of profitability and at least three months of experience managing a live account. AudaCity Capital’s unique approach to this program eliminates the need for a demo or challenge phase. Instead, traders undergo a brief interview with the talent acquisition team.
Once approved, traders can start managing live capital within 24 hours, starting from $15,000. The program also offers a fast scaling plan up to $480,000, premium liquidity with zero commission and swap fees, and flexible trading conditions. Importantly, traders have zero loss liability in this program.
On the other hand, the Ability Challenge is open to traders of all experience levels. This program involves a two-step demo process where traders demonstrate their trading skills. Upon successful completion, traders gain access to a live account of their chosen size.
The Ability Challenge offers a generous monthly profit share of 75-25, increased leverage during the challenge phase, and flexible trading conditions. The fee for this program is refundable upon completion of all stages of the challenge.
AudaCity Capital is also known for its commitment to trader education and development, offering a comprehensive training program covering a wide range of topics from technical analysis to risk management. The firm also fosters a supportive trading community through regular meetups and events.
To learn more about AudaCity Capital’s unique programs and to apply, click here.
OspreyFx
OspreyFx is a proprietary trading firm that offers a funded trader program. The program is designed to allow traders to trade with OspreyFx’s capital and keep 70% of the profits. The program consists of three stages: a Demo Stage, Verification, and Get Funded.
Traders start with a demo account to familiarize themselves with the platform and must meet certain profit and loss targets. After verification, traders can start trading with a real account and receive 70% of profits with weekly payouts.
OspreyFx offers four account sizes to choose from: Basic ($25,000), Starter ($50,000), Pro ($100,000), and Advance ($200,000). Each account has a one-time refundable fee, and traders receive a $1,000 bonus upon completion of the verification challenge. Click here to learn more about OspreyFX.
Leeloo Trading
Leeloo Trading is a platform that offers performance-based trading and contests. Leeloo allows traders to practice in the market with the potential to win real money through their signature periodic Performance Based Trading and Contests.
The platform offers various account sizes, including Leeloo Express ($100,000), Aspire ($25,000), Launch ($50,000), Climb ($100,000), Cruise ($150,000), Burst ($250,000), Explode ($300,000), and Glide | Micro ($100,000).
Each account has a monthly recurring fee and is eligible for a reset. The process to start trading with Leeloo involves purchasing a Leeloo Practice Account, moving into a Leeloo Performance Account after achieving the profit target, and proving consistency and discipline over time for the potential for your account to be copied via proprietary software at Leeloo’s discretion.
Leeloo is praised for its customer service, creative cost-saving accounts, and the accessibility of its CEO, Chris. Click here to learn more about Leeloo Trading.
Lux Trading Firm
Lux Trading Firm is a proprietary trading firm that offers a unique opportunity for traders to showcase their skills and earn a funded trading account. The firm provides a platform for traders to trade in the Forex market using the firm’s capital.
The process to start trading with Lux Trading Firm involves passing an evaluation phase where traders are given a demo account with a balance of $50,000 to $1,500,000. Traders are required to reach a profit target of 6% to 10% within a maximum period of 6 months without hitting the drawdown limit.
Once the evaluation phase is successfully completed, traders are offered a funded account with a balance similar to the evaluation account. Traders get to keep 50% of the profits for accounts under $100,000 and 70% for accounts over $100,000. The firm also offers a free trial for traders to get a feel of the platform before committing to the evaluation phase.
Lux Trading Firm is known for its flexible trading conditions, allowing traders to trade 24/5, use any trading style, hold positions over the weekend and during news events, and use any Expert Advisor (EA) or algorithm for trading.
Are you ready to showcase your trading skills and earn a funded account? Start your journey with Lux Trading Firm today!
Click here to get started.
The Funded Trader
The Funded Trader is a prop trading firm that offers a unique and flexible approach to prop trading. They provide traders with the opportunity to trade a variety of markets, including forex, indices, and commodities.
The Funded Trader operates on a simple principle: they provide the capital, and you provide the trading skills. To become a funded trader, you must first pass their Trading Evaluation. This involves trading a demo account under specific rules and targets set by The Funded Trader. If you meet these targets and follow the rules, you will be offered a funded account.
One of the key features of The Funded Trader is their flexible profit split. They offer a 50/50 profit split to start, but this can increase to as much as 80/20 in your favor as you prove your trading skills.
The Funded Trader also offers a comprehensive education program. This program covers a wide range of topics, including technical analysis, risk management, and trading psychology. It’s designed to help traders of all levels improve their skills and develop successful trading strategies.
If you’re interested in becoming a funded trader with The Funded Trader, click here to learn more about their evaluation process and education program.
City Traders Imperium
City Traders Imperium is last on our list but certainly not the least. This prop firm has made a name for itself through its transparency and flexibility.
While many prop firms dangle the idea of getting rich quickly in front of prospective traders, City Traders Imperium has robust educational resources and is transparent about expectations.
To get started with City Traders, you must complete one of its Evaluation programs, like the Day Trading Challenge (for forex, indices, and commodities), or pay a larger sum to receive direct funding immediately.
One way that City Traders Imperium stands out is through their free consultation call. On this call you get access to a trading professional who will analyze your trading approach and psychology to see how you can improve your trading performance.
Click here to explore City Traders Imperium and become a funded trader through one of their evaluation plans or by opting for direct funding.
Prop firm account features
Prop firms offer a range of features that cater to both novice and experienced traders. These features are designed to enhance trading skills and provide a platform for professional traders to excel in the financial markets:
- Trading platforms – Proprietary trading firms offer various trading platforms, each with its unique set of features. Some platforms are more user-friendly, offering robust analytics, while others may not be as comprehensive.
- Minimum deposits – Prop trading firms aim to provide funding for aspiring traders. Therefore, high minimum deposits can be a deterrent. If you’re looking to start with a low initial investment, consider the minimum deposit requirements of the prop firm.
- Profit targets – Most prop trading firms require traders to meet a specific profit target within a set time limit. This target should align with your trading strategy and be achievable based on your trading experience.
- Daily loss limits – Adhering to loss limits is crucial as non-compliance can lead to loss of funding.
- Trading capital – Prop trading firms offer varying levels of trading capital, starting from $25,000 or $50,000 and going up to $1,000,000 or more. Your comfort level in managing large sums should guide your choice of prop firm.
- Educational resources – Many prop firms, like City Traders Imperium, provide educational resources to help traders improve their trading skills. These resources can include community forums, chats, and ebooks.
What to look for in prop firms
In addition to the above features, here a few more aspects to consider when it comes to choosing the right prop firm for you:
- Fees – Proprietary trading firms charge fees for their services. These fees should be transparent, and the majority of your profits should remain with you.
- Track record – Look for prop trading firms with a good track record. Reviews on sites like TrustPilot can provide insight into the firm’s reputation.
- Withdrawal policies – Different prop firms have different policies regarding withdrawal of trading profits. Understanding these policies is crucial before signing up.
- Support – The level of customer support varies among prop firms. Some offer chat support, while others provide email support or phone support.
- Profit splits – Prop firms often have profit share agreements where the firm and the trader split the profits. The terms of these agreements can vary, so it’s important to understand them before signing up.
Which is the best prop trading firm?
The best prop firm, or funded stock trading firm, will depend on your personal preferences and goals. While the six platforms reviewed above are all leading prop firms, they each have their strengths and weaknesses.
Consider the criteria listed in the two sections above to ensure that you take into account key aspects of a given prop firm. Doing this will make it much more likely that you end up using the funded account platform that’s best for you. Ultimately, you want a prop firm that will deliver not only capital but also educational support for your trading journey.
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