The Ultimate Guide to the Best Prop Trading Firms in 2023-2024

Selecting the right proprietary trading firms plays a key role for a forex trader. Our comprehensive guide compares the best platforms for making a right choice that suits your interests in forex, futures or equities trading.  

Introduction to Prop Trading Firms

Forex prop firms supply traders with significant spread capital for trading, creating a profit sharing ecosystem. In some cases, traders can receive up to 90% of the profits, fostering a mutually beneficial relationship. Lack of capital is a common obstacle leading to over-trading, dissatisfaction and financial failure for many individual traders.  

What is Proprietary Trading?

Trading with your own forex trading desk can be an effective way to address capital issues, as traders have access to funds of different amounts range in funded trading accounts. However, to access these funds, novice traders must pass a rigorous “evaluation period” and possibly incur additional monthly maintenance fees. Furthermore, traders must be prepared for increased levels of stress and pressure, as success during the evaluation period is critical.  

Role of Prop Trading Firms

Funded prop trading firm make margin available to their traders and provide trading infrastructure with strict risk management to ensure financial stability. Forex brokers often enter into profit sharing agreements where the trader’s share can range from 50 to 90 per cent. Forex firms apply a strategy of increasing available capital when traders reach predetermined goals. Experienced forex traders often choose the strategy of doubling their funds if they achieve a profit of 10%.  

Forex firms invest money strategically to maximize profits and may employ traders without licenses. Regulators are exploring the possibility of introducing a process to approve the registration of firms, but there is currently no such process in place.  

Benefits of Prop Trading

Top Prop Trading Firms in 2023-2024

Supercharge your trading career with a prop firm. We’ve scoured the market to identify top proprietary trading firms that offer substantial capital to fuel your growth.

Finding the right fit can be complicated. We’ve done the legwork, meticulously analyzing top prop firms.  Let’s unlock your forex potential and find the perfect funding partner to catapult your success.

SabioTrade

It streamline the evaluation process, getting you funded fast to pursue explosive growth with profit potential reaching 90%.

Flexible Capital: Access $20,000 to $200,000 based on your plan, allowing you to tackle even the biggest opportunities.

Leverage: Execute trades up to $2 million with leverage ratios of up to 100:1.

Trading Rules: Dashboard integrates directly with your preferred platform, and the advanced Quadcode platform empowers your analysis.

Minimal Investment: Get started for just $99 and enjoy a risk-free 7-day trial.

Market Mastery: Trade across diverse markets and hone your skills with daily educational content and an active Discord community.

Become a Pro: Take your trading to the next level with live training sessions led by seasoned professionals.

Funder Trading

Launched in 2018, Funder Trading isn’t your typical prop firm. It empowered over 500 forex traders to leapfrog the capital barrier and trade with their funds.

Scalability: Select from four account sizes – $10,000, $25,000, $50,000, and $100,000 – to perfectly match your risk tolerance and trading goals.

Funding Efficiently: One-time evaluation fee ($99-$299) and focus on what matters – proving your skills. No hidden charges or monthly subscriptions to drain your profits.

Master the Craft: Benefit from a transparent evaluation process and ongoing access to a supportive community of funded traders. Share insights, learn from each other, and accelerate your forex mastery.

Funding Flexibility: Fund your evaluation with ease using a variety of options – credit/debit card, PayPal, or bank transfer.

Topstep

Founded in 2012, Topstep is a springboard for traders of all levels, from rookies to seasoned veterans.  Unlike others focused solely on funding, the firm prioritizes education and support, empowering you to become a master.

Funding with Flexibility: Access live, broker-funded accounts with a range of trading options to suit your risk appetite. There are few restrictions, making it easy to enter the prop trading world on your terms.

Knowledge is Power: Fuel your trading journey with a vast library of free educational resources and coaching sessions. Sharpen your skills and become a confident trader.

24/7 Support at Your Back: Never trade alone. Topstep prioritizes unwavering customer support, ensuring you have the guidance you need to succeed.

Trade Freely: Open an unlimited number of accounts, with the most affordable option starting at just $49 per month. No daily drawdown limits and a lucrative referral program.

FTMO

FTMO is built on transparency and trust, allowing you to keep a whopping 90% of your profits.  For four years running, Deloitte’s prestigious Technology Fast 50 award recognizes their commitment to excellence.

Trade with the Big Boys: Access accounts valued up to $200,000 and platforms like MT4, MT5, and cTrader to execute your strategies seamlessly.

Two-Step to Success: Evaluation process gets you funded fast. And if things don’t go according to plan initially, it offers a complimentary re-test – a second chance to prove your skills.

Trade Your Way: Collaborate with advisors, hedge positions, and employ discretionary trading. News events and overnight positions?

Swap-Free Freedom: Focus on trading, not fees. Firm provides swap-free account options for a frictionless trading experience.

SurgeTrader

Surge Trader opens the door to limitless opportunity across forex, metals, indices, oil, crypto, and even stocks.  Trade your way, with no restrictions on style or strategy.

Diverse Array of Trading: Its tiered account structure offers funding from $25,000 up to a staggering $1 million. Start small and scale up as you prove your skills.

Profit is Yours: Keep up to 75% of your profits, with a standard account requiring a minimal $25,000 investment.

Trade with Freedom: No monthly fees, no minimum trading days requirement, and no limitations on holding positions overnight. 

Transparent Qualification: Our one-step audition process is clear and straightforward. Achieve a 10% gain, with sensible risk management parameters, and secure your funded account. 

Funded Next

Funded Next is a breath of fresh air in the forex trading world, offering a unique path to funded success.

Reward from the Start: Unlike others, they share 15% of your profits during the evaluation, incentivizing smart, sustainable trading.

Boost Your Balance, Quarter After Quarter: Potentially growing your account by 40% every quarter.

Different Trading: They offer two funding models – the Express for those who crave speed, and the Evaluation for a more structured approach. Choose the path that fits your trading style.

Dedicated Support: Never trade alone. A dedicated account manager is by your side, guiding you towards funded trader status.

Trade on the Go: Manage your account and access the markets seamlessly with our user-friendly mobile apps for Android and iOS.

FXIFY

This forex company isn’t just about big funding (although they offer up to a whopping $400,000!). They understand the importance of setting you up for success from day one.

Fast Payouts: Get your hard-earned profits quickly and easily.

Flexible Regulations: Trade with confidence knowing the rules are adaptable and transparent.

Reduced Risk, More Reward: They reimburse 125% of your initial down payment, mitigating your risk while you learn the ropes.

Array of Trading: Trade on industry-standard platforms like MT4 and MT5, familiar to most forex traders.

Commission-Free Trading: Keep more of your profits – they don’t charge commissions on your trades.

Tight Spreads & Leverage: Benefit from minimal price differences and the ability to control a larger position size (remember, leverage is a double-edged sword).

Automated Strategies (Explore with Caution): Test the waters with automated trading strategies, but always be sure to understand the risks involved before deploying them.

Apex Trader Funding

Apex Trader Funding empowers American futures traders to seize control with funded accounts ranging from $25,000 to a staggering $300,000.

Direct Buying Power: Forget leverage – your account balance is your pure buying power. Trade with clarity and focus on execution.

Transparent Profit Sharing: Keep 100% of your profits until you reach $25,000 in earnings. After that, it’s still a lucrative 90/10 split in your favor.

Flexible Evaluation: Choose between Full and Static accounts to find the evaluation style that suits you best. Platforms prioritize skilled manual trading, so fully automated software is off the table.

Refine Your Skills: No free trials, but they offer a reset option if you break the rules.

True Forex Funds

True Forex Funds is a young, dynamic Hungarian organization providing funding for domination across a vast market landscape.

Prop Trading Space: Dive into a diverse playground of 40 currency pairs, indices, metals, commodities, popular stocks (CFDs), and a staggering 28 cryptocurrencies.

Scale Up or Start Small: Choose your weapon – account sizes range from $10,000 to a commanding $400,000. Pass two-step evaluation.

Leverage: Varies from 1:100 for currencies and metals to a more conservative 1:5 for cryptocurrencies and 1:10 for stocks.

Profit Potential with Performance: Hit your targets within the timeframe, and keep a massive 80% of the profits you generate. 

Trading Combine: Platform embraces various tools – high-frequency trading, hedging, and even martingale – as long as your approach can be replicated in real-world conditions.

Practice Makes Perfect: No free trials, but they offer free replays for qualifying traders. 

Trading Days: Unrestricted access to MT4 and MT5 platforms, allow trading night & weekend, and news trading with caution.

My Forex Funds

My Forex Funds empower traders of all levels to unlock their potential with funding that grows alongside their skills.

Dive into Diverse Markets: Explore a vast landscape of major and minor currency pairs, indices, metals, oil, and popular cryptocurrencies (BTC, DASH, ETH, LTC). 

Scale Up as You Conquer: Start with an account size from $2,000 and climb the ladder to a staggering $2 million based on your performance. 

Choose Your Evaluation Path: Firm gives a two-phase evaluation process with three unique payout structures. Rapid provides a quick start with a 12% profit share, Evaluation rewards consistent growth (75% to 85% split), and Accelerated offers a 50/50 split for experienced traders.

Trade with Confidence: Utilize Expert Advisors (EAs) to automate your strategies, but avoid restricted tactics like arbitrage or quote stuffing.

Practice Makes Perfect: Refine your skills with free repeat and extension opportunities on the Evaluation product (no free trials offered).

Unrestricted Trading Platform (Mostly): Enjoy the flexibility of MT4 and MT5 platforms, with the Accelerated program being the only one with weekend trading restrictions.

The Trading Pit

Nestled in Liechtenstein, The Trading Pit offers a state-of-the-art platform to cultivate your financial prowess.

Unleash Your Potential: Go beyond basic trading. Their assessment unlocks a world of partnership opportunities, insightful signal generation services, and more.

Effortless Withdrawals: Access your hard-earned profits quickly and easily with their streamlined withdrawal process.

Global Support, Local Feel: No matter where you are, the multilingual team is here to assist you in your native language.

Trading Methods: Fund your forex endeavors with diverse payment methods to suit your needs.

Sharpen Your Skills: Gain an edge with access to advanced trading systems and a library of educational tools.

Trading Community: Connect, share, and learn from a vibrant community of active traders.

Personalized Guidance: Benefit from the expertise of dedicated account managers, ensuring you have the support you need to succeed.

Fine-Tune Your Strategies:10% adjustment feature allows for precise control over your positions.

Funded Trading Plus

Funded Trading Plus is a London-based innovator, propelling you towards forex freedom and beyond.

Wide Range of Trading: Dive into a vast market landscape of major & minor currency pairs, indices (DAX, Dow, Nasdaq, SP500), commodities (oil), metals (gold & silver), and popular cryptocurrencies.

Scale Up or Start Small: Choose account sizes range from a manageable $5,000 to a commanding $200,000. With exceptional performance, conquer the markets with up to $2.5 million in funding.

Flexible Trading: Three program options cater to your experience level – Experienced, Advanced, and Master Trader. Each has clear evaluation criteria, so you know exactly what’s required.

Leverage: varies from 1:30 for Forex and commodities to a more conservative 1:2 for cryptocurrencies.

Instant Gratification: Access funded accounts through a 1-phase or 2-phase evaluation process, or opt for their instant funding program (with a slightly lower profit share).

Rewarding Profit Sharing: Keep up to 90% of your profits depending on your chosen program and trading performance. The more you excel, the more you earn.

Top Tier Trader

TopTier Trader is a Miami-based powerhouse. Fund your forex prop trading aspirations and explore a vast market landscape beyond, including indices, commodities, precious metals, and even cryptocurrencies.

Scalable Funding: Account sizes ranging from $10,000 to a commanding $300,000. 

Tailored Leverage: Leverage varies strategically, from aggressive 1:100 for forex pairs to a more conservative approach for other asset classes.

Unlock Your Profit Potential: Keep up to 90% of your hard-earned profits – the more you excel, the more you earn. 

Challenge Accepted: Regular or Swing accounts – each with a clear two-step evaluation process. Hit your profit targets, manage risk effectively, and unlock funded glory.

Automate Your Strategies (Plus Only): Utilize the power of Expert Advisors (EAs) on our Plus accounts to streamline your trading.

Trade Your Way (Mostly): Enjoy the flexibility of overnight positions and weekend trading (on Swing and Plus accounts). 

MetaTrader Mastery: Execute your trades seamlessly with the industry-standard MetaTrader 4 platform.

Boost Your Start (Limited Time): No free trials. Use their exclusive discount coupon for 5% off your purchase.

OneUp Trader

OneUp Trader empowers American futures trading professionals to seize control with real, unleveraged buying power. 

Direct Buying Power, No Leverage: Forget margin calls – your account balance is your pure firepower. Focus on strategic execution, not complex calculations.

Scalable Funding that Grows with You: Choose your account sizes range from $25,000 to a commanding $250,000. 

Transparent Profit Sharing: Keep 100% of your profits for the first $10,000 earned. After that, it’s still a lucrative 90/10 split in your favor – the more you win, the more you keep.

Streamlined Evaluation: Conquer a clear, one-step evaluation with a 15-day trading period, a 6% profit target, and manageable drawdown limits (tailored to your account size).

Unrestricted Trading (Mostly): No daily loss limits – focus on long-term strategy. They allow various trading tools (EAs/algos/bots) but restrict tactics like scalping and arbitrage to ensure fair market practices.

Free Trial to Test the Waters: Hone your skills with a 7-day free trial before diving headfirst.

The Funded Trader

FTP unleashes your trading potential with industry-leading flexibility and funding.

Unrestricted Opportunity: Conquer the markets around the clock – trade during news events, weekends, and overnight. No limitations on when you seize your trading edge.

High-Octane Leverage (Use Wisely): Amplify your potential with leverage ratios up to a staggering 200x (remember, with great power comes great responsibility).

Scale Up to $1.5 Million: Start with a Standard Challenge Account and prove your skills. As you conquer the markets, access funding up to a life-changing $1.5 million.

Simple & Transparent Rules: Focus on trading, not deciphering complex guidelines. Our rules are clear and easy to follow.

Profit Share Powerhouse: Keep a massive 90% of your profits when you maintain up to $1.5 million in funding. 

Trade Your Favorite Markets: Dive into a diverse landscape of currency pairs, indices, and cryptocurrencies.

Criteria for Evaluating Prop Trading Firms

When evaluating proprietary trading firm that offers a variety of factors, consider some key criteria:

1. Trading Strategies

Prop trading firms often have unique and innovative strategies for trade. These strategies should be designed to exploit market inefficiencies and generate profits.

2. Risk Management

Firms should have robust risk management systems and controls in place to limit potential losses and protect capital.

3. Technology

The quality of a prop firm’s trading platform, as well as its ability to execute trades quickly and efficiently, can significantly impact its success.

4. Training and Support

Firms should offer comprehensive training programs and provide ongoing support to their traders.

5. Compensation Structure

Some firms may offer a higher percentage of profits to their traders, while others may provide a more stable base salary.

6. Regulatory Compliance

This includes regulations related to trading, risk management, and financial reporting.

7. Reputation

This can be assessed through reviews, testimonials, and the firm’s track record.

Comparison of the Top Prop Trading Firms

Choosing the Best Prop Trading Firm

Having a choice of the best prop firms, there are a number of factors that can help you make the right decision. The decision can be difficult in a trading environment. Here are seven key factors to consider.

Factors to Select a Best Proprietary Trading Firm

Factor 1: Profit splits

Some firms offer a 50/50 split, while others favor the trader, so make sure they match your financial goals.

Factor 2: Scaling opportunities

To maximize your profit potential, look for platforms that reward success with increased trading capital.

Factor 3: Trading parameters

Ensure that your different trading styles and risk appetite are reflected in your maximum drawdown limits, risk/reward ratios and stop loss policy.

Factor 4: Affordability / Value

Desktop and software costs are weighed against the value that high quality platforms and market data provide.

Factor 5: Tradable assets

Currencies, stocks, futures and forex trading options? Choose a firm that offers a battleground teeming with the assets you crave.

Factor 6: Educational Resources

Whatever your level of experience, top companies offer programmes, webinars and mentoring to help you hone your skills.

Factor 7: Customer service

Many prop trading firms have a reputation for excellent support and are prepared to deal with your concerns in a prompt and professional manner.

Process of Joining a Prop Trading Firm

Step 1: Study reputable prop companies like a seasoned warrior.  Profit splits, scaling opportunities and educational resources are your intelligence. 

Step 2: Find your champion company. Apply now.

Step 3: Many companies have an evaluation process to assess your trading skills. This may involve trading on a demo account for a period of time while your performance is monitored.

Step 4: Depending on the company, you may be interviewed either in person or virtually. This is an opportunity for the company to get to know you better and for you to ask any questions you may have.

Step 5: Have you passed the tests? You’re officially funded! Your trading capital awaits.

Step 6: Start trading!  Remember, each company has its own rules. Follow them carefully.

Step 7: Winnings are shared according to your pre-determined split. The bigger the winnings, the sweeter the rewards!

Step 8: Show steady success? You could receive a capital boost, allowing you to scale your strategies and capture even greater profit potential.

Opportunities for Traders at the Best Prop Trading Firms

The best firms for props are not just places to work, but sources of new opportunities. Imagine your appearance on stage:

• Trading opportunities beyond your wildest fantasies.
• Precise execution of strategies through advanced platforms and instant information.
• Advance with educational resources, mentorship, and a network of professionals with similar goals.
• Retain a significant portion of profits and grow your capital as you grow.

These companies create a sustainable ecosystem for success by combining the excitement of self-employment with the reliability of a structured environment. The perfect environment for the next generation of trading geniuses is taking shape here.  

Future of Proprietary Trading

Owner-managed trading has always been seen as a dynamic area, constantly evolving with the financial markets. Looking ahead, we see a number of key trends and innovations shaping the future of the industry.  

Trends and Innovations in Proprietary Trading

 An important trend in personal trading is the rising use of algorithmic and high-frequency strategies, which leverage advanced mathematical models and instant trade execution to exploit minor price differentials in the market. Another trend is the growth of remote and freelance trading, enabled by modern technology allowing traders to work from anywhere, breaking geographical barriers for skilled professionals globally.  

Impact of Technology on Prop Trading Firms

Technology has greatly impacted proprietary trading companies, with modern platforms offering tools like real-time analytics, risk management, and direct market access. These advancements enable more informed decision-making, efficient trade execution, and risk management. Additionally, artificial intelligence (AI) and machine learning (ML) are increasingly influential, utilized for predictive modeling and automating trading processes to boost efficiency and profitability.   

Opportunities in Proprietary Trading for 2023 – 2024

 In the upcoming years of 2023-2024, proprietary trading offers exciting prospects. Advancing artificial intelligence and data processing tech will introduce new trading strategies and bolster risk management. Moreover, the globalizing financial markets are broadening trading possibilities across diverse assets and instruments, granting access to a wider array of investment opportunities with the development of emerging markets.  

FAQ

Are prop firms really worth it?

Prop firms can offer a range of benefits, but whether they’re worth it or not largely depends on individual circumstances and goals. There are key points to consider in this article.

How much do prop firm traders make?

Income at proprietary trading firms is influenced by traders’ skill levels, the firm’s profit-sharing model, and trading strategy success.Traditionally, traders receive 60-80% of profits they make, with some offerings a 90:10 split. Their income hinges on experience, skills, strategy effectiveness, and profit generation using prop firm capital. While high earnings are possible, trade involves risk, and success isn’t guaranteed. Reports show a small percentage of traders reach payout stage, underscoring the profession’s challenges.  

Is Prop firm trading legit?

Prop firms are generally legitimate and provide traders with access to capital, sophisticated trading tools, and often offer training, education, and mentorship. It’s crucial to ensure that prop firms are registered and regulated by relevant authorities, as some online prop firms may operate without proper regulation. Make a research before making any decisions.