The Best Prop Trading Firms Reviewed
Proprietary or prop trading is an increasingly popular investment method, and plenty of firms are joining this rising sector of the industry. In this form of trading, financial firms profit from market activity, rather than commissions on client trades. If you can trade successfully and follow market trends, these companies will speed up your journey toward financial independence.
Traders on prop platforms trade in cryptocurrencies, fiat currencies, stocks, bonds, commodities, and other financial instruments. Finding a platform that deals in assets that are up your alley, under conditions that suit you, can be challenging. To help out, we’ve compiled a list of prominent prop trading firms for you to choose from.
Top Proprietary Trading Firms for May 2024
Topstep
- Futures trading
- Digital coaching
- Buying power up to $150 000 for futures
Topstep is one of the best prop trading firms for futures traders. This provider welcomes both experienced traders and beginners and helps them develop healthier trading habits. Topstep’s support traders are experts and are at your disposal to help you achieve your financial goals.
Since Topstep is a place for full-time traders and enthusiasts, the platform has several accounts for futures trading. This means that you’ll be able to choose among accounts with various buying power, ranging from $50,000 to $150,000. Of course, there is an evaluation process that you need to pass in order to get a real trading account at this company.
Topstep is also one of the best proprietary trading firms for beginners because it offers various educational resources and support. Group Coaching is a program led by professional traders, and it’s designed for those who wish to learn how to trade smartly and improve their individual performance. There’s also Digital Coaching, a real-time trading guide that helps you set up your trading plan and achieve trading goals faster.
Topstep is a Chicago-based company founded in 2012, which hosts traders from 143 countries. In 2021 alone, Topstep’s traders withdrew more than $3 million. The company has a 4.3 score on Trustpilot, and it has been on the Inc. Magazine’s 5,000 list of the fastest-growing private companies in the US.
Fidelcrest
- Traders get up to 90% of profits
- Live chat, email, and ticketing support
- $10,000 initial balance
Fidelcrest made it onto our list of proprietary trading firms because of its dedication to finding and educating talented traders. Fidelcrest is not a broker, nor does it offer retail broker accounts.
It’s a prop firm on a hunt for traders who will trade forex, commodities, cryptos, and other assets.
To become a Fidelcrest trader, you have to complete the two-phase evaluation program. There are two trading programs to choose from - Micro Trader and Pro Trader. With Fidelcrest’s Micro program, you can trade an account balance that ranges from $10,000 to $50,000.
The trading period is 10 days, and the trader gets 80% of the profit share. The maximum loss allowed is 10%. If you want to increase your profits to 90%, you can choose one of the Micro Aggressive Swing accounts, which reduce the trading period to 5 days.
Meanwhile, the company’s prop trading program for pros allows you to trade accounts between $150,000 and $100,000,000 with a maximum allowed loss of 10% (20% with the aggressive account type). The profit share is 80% (90% with aggressive).
Regardless of the program you choose, you’ll need to pass the evaluation and pay the participation fee. Fidelcrest will refund the fee to your bonus wallet.
You need to use the promo code “REFUND” when applying for the evaluation process. Refundable fees are available only for traders who don’t use any discount.
Founded in 2018 in Cyprus, Fidelcrest is another great place if you want to become a proprietary trader. This company was created and led by a team of experts for forex trading. Fidelcrest currently has over 6,000 trades worldwide. The firm was crowned as the Best Micro Forex in Europe at the Forex Expo 2021.
Darwinex Zero
- No limitation rules (no min/max drawdown - no max loss)
- Monthly capital allocation (even in negative months)
- Available to traders worldwide
- External investor funding
Darwinex Zero is a revolutionary subscription-based service launched in 2023 by the trading and asset management company Darwinex.
This is not a standard prop-trading platform, and D-Zero instead acts as sort of a scouting system where traders prove themselves and their strategies in order to gain access to seed capital from Darwinex’s regulated asset management sisters. This unique service is therefore best-suited to those traders that seek to build a sustainable medium to long track record, and should not be looked at as a short-term solution.
Darwinex Zero is a first-of-its-kind subscription service, with a $38 monthly fee and a $95 sign-up commission. The D-Zero journey starts at the training stage for every new trader, in which the Darwinex proprietary risk engine evaluates and calibrates your virtual trading skill for a minimum of 10 trading days.
After this initial evaluation stage, your personal DARWIN will be created and you will move to the DarwinIA Silver, a monthly seed capital allocation programme where you will compete against other DARWINs to earn allocations of between $25,000 and $250,000 and the chance to keep 15% of the profits you generate in performance fees. Once you become eligible for the DarwinIA Gold stage, the allocation limit is increased to $500,000, and you can test your strategy against other elite managers in order to gain access to investor capital. The Gold stage also allows you to sell your DARWIN strategy to external investors and build your own brand as an asset manager in order to leverage outside capital to you.
D-Zero allows you to trade in Forex, CDFs, Commodities, US Stocks and ETFs, with trading in Futures coming soon. The company offers trading on MT4 and MT5 platforms, and there are dedicated apps available for both iOS and Android users. Darwinex Zero also features some of the most in-depth analytics tools and features, and is available to users worldwide, including those from countries like USA and Japan, who cannot trade on the Darwinex Classic trading account.
FundedNext
- 15% profit share from the start
- High profit split
- An account manager for every trader
Traders can expect to get up to $200,000 in funds from FundedNext if they opt for the biggest Evaluation package. The company works with Forex, indices, and commodities, and you can earn a 15% profit immediately, even during the assessment phase, regardless of the model you choose.
Like most of the Forex prop trading firms we’ve reviewed, FundedNext has a model that includes evaluation. The Evaluation model lets traders prove their trading abilities in two phases; in the first, they can count on a profit share of 80%. Once they reach their targets and advance to the next phase, the split rises to 90%.
On the other hand, the Express model sets a profit target with no time limit; once you hit it, you can start with a 60% split that can rise to 90%. Traders can try different trading styles such as intraday and swing trading, scalping, and much more. So long as your growth stays above 25% and your overall losses don’t surpass 10% of your trading, you’ll be on the growth path with FundedNext.
Still, what makes FundedNext one of the best indices, commodities, and forex trading prop firms is the Dedicated Account Manager for every trader. And if your performance is consistently good, you’ll be rewarded with a scaleup plan of a 40% increase in account balance every four months, capped at $4 million.
Your journey with FundedNext can start in just three simple steps: Pick your funding model, remain profitable, and get funded. For easier access while you’re on the go, you can download the FundedNext iOS or Android app. For any help you might need along the way, there’s a live chat, email, FAQ section, educational blog posts, as well as Discord, Telegram, and Facebook communities.
FundedNext is a brand new international proprietary platform with offices in multiple countries, including the USA, UAE, UK, and Bangladesh. The company provides a variety of assets with very low commissions and spreads. With FundedNext, all of the trader’s funded accounts are held by a partner broker company, Eightcap, which is regulated by ASIC and guarantees the safety of your funds. The 4.4 score on TrustPilot works in FundedNext’s favor, too.
SurgeTrader
- Quick processing times
- Several pricing tiers
- Diverse selection of trading securities
To become a trader, you need to pass the SurgeTrader Audition and funded traders need to meet a few simple requirements. For starters, there is a 10% profit target, and you’ll need to stay below the daily loss limit of 5% and the maximum trailing drawdown of 8%.
The starter account comes with a $250 audition fee and a $25,000 initial balance. Unlike other companies, this prop trading firm doesn’t impose minimum trading days or a 30-day assessment period. It allows traders to keep 75% of their profit share.
As a SurgeTrader broker, you can trade various securities, including forex, stocks, equities, oil, and metals. Moreover, SurgeTrader is a good place for trading cryptocurrency products. SurgeTrarder operates on two platforms - Eightcap M4 and Eightcap M5. It also allows news trading.
SurgeTrader has an easy-to-use trading dashboard with useful analytical tools and features. As a SurgeTrader, you can access trade analytics in real-time and improve your trading performance. Before you decide to start the SurgeTrader Audition, you can test out the platform for free.
Thanks to the availability of the free trial, you can check your trading skills and whether you are good enough to join this proprietary trading company.
Launched in 2021 and based in Florida, SurgeTrade is one of the newest proprietary trading firms on the market. It offers a variety of trading instruments, including stock market indices, forex, metals, oil, and cryptocurrencies. The trading capital ranges between $25,000 and $1 million, depending on the trading account you choose. The account fee is non-refundable.
FTMO
- 90:10 payout ratio
- Free mobile app
- Leverage 1:100
FTMO is a prop firm that offers a whopping $200,000 of trading capital to its legitimate traders. That’s something that you won’t find anywhere else. To become an FTMO trader, you need to complete a two-step evaluation process.
The first step is the FTMO Challenge, during which the company checks your trading skills. The second and final step is Verification after which you become an official trader at FTMO.
For less experienced traders, FTMO offers video tutorials to help them learn how to use the platform and get familiar with forex trading. Additionally, all traders can participate in webinars where they can learn about advanced trading strategies from their experienced counterparts.
FTMO is one of the best proprietary trading firms thanks to the 90:10 payout ratio, which translates into traders receiving 90% of the profits. Once you pass the evaluation stage and set up your FTMO Account, your trading period is indefinite, and there’s no profit target.
Furthermore, traders get access to the most popular retail trading platforms, including MT4, MT5, and cTrader. You can trade a wide range of proprietary assets - hundreds of forex pairs, metals, equities, and cryptos. Payment options include bank transfers, debit/credit cards, Skrill, Nuvei, and PayU.
FTMO also offers a free trial account similar to the FTMO Challenge. This is a great way to get a better sense of what this proprietary trading firm has to offer before signing up for an official proprietary account and paying fees.
FTMO has been operational since 2014. The company is based in Prague and is generous with the capital it provides to traders. Unlimited 24/7 customer support via phone and live chat, coupled with plenty of online materials, and webinars make this company one of the best options for proprietary trading.
The 5%ers
- Several account models
- Instant funding
- Rich selection of trading tools
The company, founded in 2016 by Gil Ben Hur, experienced significant growth when it started fostering a community of traders who managed capital from other investors. With more joining and learning from the basis established by Gil, the 5%ers began expanding into a community for exchanging knowledge and sharing successful methods for trading.
At the time of writing, it’s one of the online prop trading firms focused on forex trading, but it also supports trading with securities such as cryptocurrencies, stocks, and precious metals. The most prominent forex trading pairs found on the platform are EUR/USD, GBP/USD, USD/JPY, USD/CAD, AUD/USD, NZD/USD, and USD/CHF.
The platform includes challenges that offer better opportunities for traders who complete them. For example, you can get access to a better account with no risk of extra charges. The Bootcamp program lets traders complete three challenge phases and then get access to a six-figure trading account.
There are plenty of other options available; depending on your initial fee and success in showing your trading skill, you will get access to exciting trading opportunities.
Unfortunately, the main downside of The 5%ers is higher fees than on other platforms and getting just 50% of the profits, which is significantly less than we’ve come to expect on what we consider to be the best prop firms for forex.
The 5%ers are one of the fastest-growing forex prop firms and includes plenty of opportunities for traders worldwide. It’s run by professional traders who aim to provide the opportunity to use capital funds and start earning to all aspiring candidates.
The company has been operational since 2016 and has garnered quite a bit of positive sentiment from its user base, so you should definitely consider it for your trading operation.
City Traders Imperium
- Free course before enrolling in the Evaluation program
- Well-known for trading forex pairs
- Online material for traders
As one of the market’s top proprietary trading firms, City Traders Imperium is best-known for offering direct funding that can go up to $70,000. Dozens of reviews on Trustpilot only serve to confirm our positive assessment of its spreads, exceptional customer support, and useful online material for brokers.
Like other companies in this line of work, City Traders Imperium has an evaluation program that you must complete successfully in order to become a trader. But unlike with other forex proprietary trading firms, this Evaluation program consists of only one phase.
It takes up to one year to complete. This is because the company understands how important it is to lead candidates slowly through the process and offer them the biggest chances for success. In addition, the firm offers the lowest target rate in the industry (7%) during the Evaluation process.
Another great thing about this firm is that you can completely skip the Evaluation and start trading as a Portfolio Manager right away. You just need to choose the Direct Funding program. This firm offers scalable trading plans with up to 90% of profit share going to the trader.
When it comes to the assets that you can trade, City Traders Imperium is among the most popular prop firms for forex. There are dozens of forex pairs that you can trade, but you can also trade gold and indices.
City Traders Imperium offers a free course for future traders. The course is designed to help traders pass the evaluation procedure.
Founded by Daniel Martin and Martin Najat, City Traders Imperium is another great prop firm. The company has been around since 2014, offering traders the facilities to trade forex, indices, and gold. The company has a 4.7 score on Trustpilot and is praised for its excellent and empowering courses that help traders become real professionals. Based in London, City Traders Imperium offers excellent trading benefits once you become a Portfolio Manager.
TradersWithEdge
- Three account types: Turtle, Hare, and Instant
- Android and iOS app available
- Active community
Review in progress. Our team is reviewing TradersWithEdge and we will update this section once we are done.
TradersWithEdge is a new prop trading firm, incorporated in Hong Kong, with offices in both Hong Kong and New York. They trade with over 1,170 assets, including FX majors and minors, precious metals, commodities, digital assets like cryptocurrencies, and stocks. As their trader, you will get access to the TradersWithEdge community where you can join various discussions about trading strategies, take courses, and even get mentored. TradersWithEdge is also partnered with Eightcap, an ASIC regulated broker that allows their traders to trade with low spreads and commissions.
MyForexFunds
- Offers trading programs for different levels of expertise
- High profit split
- Exceptional customer support
MyForexFunds offers three different types of trading accounts that you can choose based on your trading skills and expertise. The platform is beginner-friendly and a great option for traders who haven’t been in the market for a long time.
The Rapid account program includes a demo trading account and has a refundable registration fee. And even though this is a demo account, you are still rewarded for using it through bonuses.
The other two prop trader accounts are reserved for more experienced traders, allowing higher daily limits, up to 1:100 leverage, and no daily drawdown limits. If you are a professional trader, you can start trading immediately with the MyForexFunds Accelerated account and generate profit from day one.
Another thing worth mentioning is that this provider uses only the MT4 platform for trading.
MyForexFunds allows you to trade hundreds of forex pairs, metals, and crypto. However, MyForexFunds is not a place where you can trade stocks. If you want to buy, sell, or trade stocks, check out some of the other providers on our list.
With MyForexFunds, you have several payment options, including bank transfers, Wise, and PayPal. You can also get your money in crypto if you want, just make sure to factor in your crypto taxes.
Like other top prop trading firms, MyForexFunds supports its traders through various channels of communication. The available support options are live chat, email, and ticketing support.
MyForexFunds is another new platform for proprietary trading. The company has been around since 2020 and is headquartered in Canada. Over 40,000 traders from 120 countries worldwide already use MyForexFunds to trade everything from forex and crypto to indices and metals. In addition, the company has a score of 4.8 on Trustpilot.
The Best Prop Trading Firms in 2024:
- FTMO - Best overall
- Topstep - Best for Forex traders
- The 5%ers - Most secure platform
- Fidelcrest - Best for experts
- FundedNext - Highest profit split
- Surgetrader - Best for trading various assets
- MyForexFunds - Best for those who want to skip evaluation
- City Traders Imperium - Most thorough evaluation
How We Evaluate Firms for Prop Trading
The key to success with prop trading is finding the right firm to work with. Many companies are competing for new traders with advertised benefits and higher profit cuts. However, profit margins aren’t the only important criterion, and there are
Reputation
Due to the well-established presence of bad actors within the prop trading industry, a good reputation takes lots of work to build up. We’ve examined what users have to say about their experience on each platform and how the company handled any issues their traders faced.
Whether in a large or small organization, complaints that haven’t been clearly resolved are reflected in the company’s Trustpilot rating. The time it takes for the firm to onboard new traders and if it’s making on-time payments are some of the most important factors that reflect how reputable the company is.
Available Assets
What do you specialize in? Some prop firms have a variety of assets for trade, while others prefer to have traders focusing on a select few. You’ll likely have a choice of futures, stocks, forex, and other commodities. Even though some are specifically designated as forex prop firms, they also include trading with cryptocurrencies and precious metals.
Fees
Fees and profit margins will be determining factors for any prospective trader on the hunt for a platform. You’ll have to make a financial commitment before being accepted as a regular trader, and some platforms have a higher barrier to entry than others. The initial one-time fee for the evaluation process varies significantly; on the plus side, some firms do offer a refund for that payment.
Trading Platform and Trading Style
Check what trading platform the firm is using. When it comes to forex trading, most prop firms implement MT4, MT5, and cTrader platforms, while others may emphasize technical analysis vs. fundamentals on which your potential investments are built. Your approach to researching before making an investment may make or break your trading experience with some of the firms on this list.
Customer Support
Having a good support lifeline from the firm you are trading with is going to be essential. You may have important questions or issues to be resolved with your payments, profit splits, platform features, or just about anything else.
That’s where readily available support is incredibly helpful, and an extensive knowledge base will save you the precious time you need to dedicate to research and trading.
FAQ
Is proprietary trading legal?
It depends on the person making the trades: In most situations, it isn’t illegal, unless you are working for some of the most influential banks in the world. Due to the 2008 financial crisis, banks are no longer allowed to conduct proprietary trades.
Which prop firm is better than FTMO?
While FTMO is easily considered one of the best platforms for prop trading, some alternatives are popular among traders. Some of these are Topstep, The 5%ers, FundedNext, and others that we listed here.
Are prop trading firms worth it?
Prop trading is a legitimate method of earning huge profits by making trades. Users who can make it through evaluation quickly get access to funded accounts and can start trading with the firm’s capital, which in some instances can amount to millions of dollars.
Do prop traders make money?
Yes, they do. Successful traders can expect to earn between $100,000 and $200,000 per year. Entry positions earn somewhat less, but most of the best prop trading firms pay their traders competitively.