Best Forex Proprietary Trading Companies in Spain
|
1
|
5.7
/10
|
|
|
|
2
|
5.28
/10
|
|
|
|
3
|
6.68
/10
|
|
Proprietary trading firms in the Forex market have gained significant traction in Spain, offering traders the opportunity to access professional resources and capital. By partnering with these firms, traders can enhance their trading experience, share profits, and leverage expert insights.
This comprehensive guide will discuss the benefits of joining a prop trading firm, outline the criteria for selecting the best firms, and highlight the top Forex proprietary trading companies in Spain for both experienced and aspiring traders.
Fund your account with SurgeTrader!Is Forex Prop Trading a Good Idea in Spain?
Forex prop trading refers to a partnership between a trader and a proprietary trading firm. The firm allocates its own capital to the trader and allows them to trade on their behalf and then share the profits. Forex prop trading can be a good idea for skilled traders, as it lowers personal financial risk by using the company's capital instead of their own.
As a trader, this allows you to focus on making better decisions without stressing over potential losses. Additionally, prop trading firms offer access to professional resources, tools, and support that can help improve trading performance. Joining a prop trading firm also provides opportunities for growth and networking with industry experts.
This means you get to learn new strategies and techniques to enhance your trading career. However, it's important to keep in mind that prop trading is not suitable for everyone. It's a high-risk, high-reward activity that requires a good understanding of the financial markets and a strong trading strategy.
Before entering into a prop trading partnership, it's important to carefully consider your goals, experience, and risk tolerance. Here are some pros and cons of proprietary trading.
Pros of Forex Prop Trading in Spain:
Minimized risks: Traders can trade using the firm's capital, reducing personal financial risk.
Showcasing skills: Talented traders can demonstrate their abilities and potentially receive funding.
International exposure: Most prop trading firms are well-known international players, providing traders with global exposure and networking opportunities.
Access to resources: Traders can access professional trading tools, research, and support provided by the firm.
Performance-based compensation: Traders are rewarded based on their performance, creating a strong incentive to succeed.
Cons of Forex Prop Trading in Spain:
Difficult to qualify: Prop trading firms typically have strict qualification requirements, making it challenging for some traders to get accepted.
Strict rules: Traders must adhere to the firm's trading rules, which can sometimes be restrictive and limit their trading style.
Profit sharing: Traders often need to share a portion of their profits with the firm, reducing their overall earnings.
Limited control: As traders are using the firm's capital, they may have less control over their trading decisions and risk management.
Top 5 Prop Trading Accounts
SurgeTrader
SurgeTrader offers 75% profit splits to funded traders who meet their trading criteria. It's the perfect prop firm to diversify your investment portfolio with a variety of tradeable assets. SurgeTrader has only one phase of evaluation, unlike many other prop firm trading entities. Traders of all skill levels can choose from six packages. With its Starter Package, you get $25,000 in instant funding and a 10% profit target. There’s a maximum trailing drawdown of 5%. The Starter Package is ideal for beginners who want to avoid aggressive accounts. With a $1 million funding size and 75% profit split, the Master Package is the highest-tier account. A 10% target is set, along with a four-percent daily loss limit and a five-percent maximum trailing drawdown. If you have a lot of confidence in your abilities, this package may be for you.
Additionally, this prop firm offers a wide variety of tradable securities, including crypto and gold, as well as popular stock indices. It’s possible to leverage up to 1:10.
A top proprietary trading firm, SurgeTrader requires all of its clients to undergo evaluations. You need to pass only one phase of the SurgeTrader Audition process. It’s not necessary to earn over 10% of your account balance in order to pass the audition.
Audition fees range from $200 to $6,500 per account. There’s no limit to how many times you can take the audition. You can use credit/debit cards and PayPal to make payments and withdrawals.
Is Surge Trader safe?Fidelcrest
Fidelcrest offers 13 accounts to suit different types of traders, providing access to more than 1,000 financial instruments. Known for its robust training programs and exceptional support services, the prop firm offers profit splits of up to 90%.
There are two main accounts available at Fidelcrest, Micro Trader and Pro Trader, both of which offer Normal and Aggressive settings. Each risk type is funded at three different levels. Depending on the risk type, the Micro account has funding between $25,000 and $50,000. A difference between the two lies in the profit targets, the minimum number of trading days, and the maximum loss limits. Micro Trader, for example, has a maximum overall loss limit of 10% and a profit target of 5%. There is a maximum loss of 20% with Aggressive risk, and a maximum profit target of 15%.
Currently, ProTrader accounts are funded between $150,000 and $1 million, of which $1 million is only available for Normal Risk accounts. Both accounts can be leveraged up to 1:100. Each account type is evaluated in two steps, depending on the minimum number of trading days, maximum daily loss limit, and maximum overall loss limit. The KYC program at Fidelcrest requires that you submit documents in addition to meeting the trading parameters. The fees for different types of accounts and risk levels vary. It costs between $104 and $474 to open a Micro Normal risk account. The prices for Micro Aggressive accounts range from $157 to $579, while those for ProTrader accounts range from $685 to $2,848.
How does Fidelcrest Challenge Work?Earn2Trade
Earn2Trade provides three distinctly funded trading programs. The Gauntlet Program, The Gauntlet Mini, and the all-new Trader Career Path are all available.
A one-time payment is required for the Gauntlet program. Traders manage a $25,000 virtual account for 60 days, during which they must trade at least 30 calendar days and once every week. If they follow the guidelines and meet the 10% profit target, successful candidates will receive a guaranteed funding offer from Helios Trading Partners or Appius Trading.
Topstep Futures and Topstep Forex are similar programs to the Gauntlet Mini. Traders pay a monthly fee and must follow the guidelines. The monthly fee includes trading classes, webinars, and access to Journalytix (TM). Traders will then receive an offer for a funded trading account. Earn2Trade's newest program is the Trader Career Path. Traders begin with a $25,000 virtual capital account and are funded with a $25,000 account if they pass the Evaluation. After the Evaluation, traders can develop their trading careers and handle assets worth up to $200,000 without paying a monthly subscription fee.
Earn2Trade has the largest variety of trading platforms to choose from, coming close to 20 options. NinjaTrader and Finamark, R|Trader, and Overcharts are the most common, however, Agena Trader, MultiCharts, and many other platforms are also supported.
The Earn2Trade Trader Career Path costs $150 per month with a starting capital of $25,000. The Gauntlet Mini program offers five account sizes (25k for $150, 50k for $170, $75k for $245, $100k for $315k, and $150k for $350 each month).
Finally, the conventional Gauntlet challenge is offered for a one-time fee of $343.2. Earn2Trade accounts do not have free trials, but discounts of 20%-40% are available below. Traders earn 80% of all the profits they make off the capital received.
FTMO
To qualify for a funded trading account at FTMO, you must go through a rigorous three-step process:
Enter the FTMO Challenge, where you must meet the profit targets within 30 days.
Begin the 60-day Verification Procedure, during which you must demonstrate that you can repeat your FTMO Challenge success.
After completing the two-step review procedure with the FTMO Challenge and Verification, you will be contacted by FTMO with an offer to trade their capital on accounts ranging from $10,000 to $400,000.
A great fact to note is that FTMO’s stronghold is its currencies. This is the best place to consider a forex funded account, if you enjoy trading currencies. You can trade 44 currency pairs as well as 10 cryptocurrencies. Furthermore, cash indices, commodities, and stock CFDs are available for trading.
The free versions of the three most popular forex trading platforms, MetaTrader 4, MetaTrader 5, and cTrader, are accessible.
The fee is paid once per FTMO Challenge. While the funded account currency might be USD, GBP, EUR, CZK, CAD, AUD, or CHF, the challenge fee is exclusively charged in Euro. The participation price for the 10k account begins at 155 EUR. The 25k is 250 EUR, the 50k is 345 EUR, the 100k is 540 EUR, and the 200k is 1,080 EUR. Traders receive capital ranging from $10,000 to $400,000 and an 80/20 split on profits. Whatever the profit a trader earns on the capital given, they will receive 80% of it.
In addition to that, there is a Scaling Plan for funded accounts that allows traders to enhance the Profit Split in their favor up to 90:10 with account sizes up to $2,000,000.
The5ers
The 5%ers are known for their unique ways of handling forex funded accounts. These methods may be beneficial to traders who would like to try something different.
The 5%ers take a completely different path from the other apps on this list. Each funded trading account is a live, real-money funded trading account funded by The5ers and tradeable by subscribers.
All forex majors such as EUR/USD, USD/CHF, and key cross-currency pairs such as AUD/CAD and GBP/JPY are tradable assets. Each trader must complete the Level 1 Program with a profit target ranging from 10% to 25%.
The Level 1 Program will be closed once the profit target has been archived by trading according to the guidelines. Profit will be distributed in accordance with the profit split, and a new trading account on the next higher financing level will be established with you as a Portfolio Manager Partner. The entry cost ranges from $275 to $875. The 5%ers offer a 50/50 split on profits.
Are International Prop Trading Firms Legit in Spain?
The Spanish government does not explicitly prohibit proprietary trading firms from operating in the country. But, they must comply with the regulations set by the National Securities Market Commission (CNMV). The CNMV is responsible for supervising and regulating the Spanish securities markets. Ensuring that all participants operate within a fair and transparent framework.
To operate in Spain, international proprietary trading firms must obtain authorization from the CNMV and meet certain requirements, including having sufficient financial resources and adequate risk management systems in place.
Note that some international prop trading firms may not be authorized or regulated by the CNMV. As with any investment opportunity, it’s important to do your due diligence. Research the firm before investing your funds.
How to Choose a Prop Trading Account in Spain?
Choosing a prop trading account in Spain can be a big decision, so it's important to take the time to consider your options carefully. Here are 5 tips to help you make an informed decision:
Consider the Fees and Commission Structure
Prop trading firms typically charge fees for access to their trading platforms and services. It's important to understand the fee structure of any firm you're considering, including any monthly subscription fees, training fees, or commission charges. Be sure to compare the fees and commissions of different firms to find the best deal for you.
Evaluate the Trading Platform and Tools
The trading platform and tools offered by a prop trading firm can have a big impact on your success as a trader. Look for a firm that offers a reliable and user-friendly trading platform with the tools and features you need to make informed trading decisions. Consider the speed and reliability of the platform, as well as its compatibility with your computer or device.
Check the Firm's Reputation and Track Record
Before choosing a prop trading firm, it's important to research their reputation and track record. Look for firms with a solid reputation and a good history of success in the industry. Read online reviews and testimonials from other traders, and consider reaching out to the firm to ask questions and get a better understanding of their services.
Can I Become a Funded Trader?Consider the Level of Support and Training Offered
Prop trading can be a challenging and complex process, so it's important to choose a firm that offers good support and training. Look for a firm that offers comprehensive training resources, including online tutorials, webinars, and one-on-one support.
Consider the quality and availability of customer support, as well as the responsiveness of the firm to any questions or concerns you may have.
Evaluate the Level of Risk Involved
Prop trading can be a high-risk activity, and it's important to understand the level of risk involved before choosing a prop trading firm. Consider the level of risk associated with different trading strategies, and look for a firm that offers a good balance of risk and reward.
Make sure you understand the potential risks involved and consider seeking professional financial advice if you're unsure.
Is Prop Trading in Spain Free?
Prop trading in Spain can be a way to attract funds by trading financial markets, but it is important to understand that there are fees associated with using the services of a prop trading firm. Prop trading firms typically offer access to their trading platform and services in exchange for a fee.
The fee structure for prop trading firms can vary, with some charging a monthly subscription fee and others charging a one-time fee. The amount of the fee can range from $150 to $25,000, depending on the firm and the services offered.
In addition to the subscription or one-time fee, some prop trading firms may also charge additional fees for their services, such as training and support. These fees can vary widely and should be carefully considered before signing up for a prop trading firm's services.
It's also important to keep in mind that while prop trading can offer the opportunity to attract funds, there are also risks involved in trading. Prop trading firms may require a minimum deposit. You can potentially lose their investment if their trades are not successful.
FAQs
What are the best forex prop firms in Spain?
When it comes to finding the best forex prop firms in Spain, there are several factors to consider. Some of the top firms in Spain include E8 Funding, Funded Next, surgeTrader, and TopStep.
These firms are known for offering high-quality trading platforms and support services to traders. However, the best firm for you may depend on your specific needs and preferences, so it's important to do some research and compare the different firms before making a decision.
Is prop trading legit in Spain?
Yes, prop trading is considered to be a legitimate activity in Spain as long as it is conducted in compliance with local regulations and laws.
Prop trading firms must be licensed and regulated by the relevant authorities in order to operate legally. Additionally, it's important to be aware of any potential scams or fraudulent activities in the prop trading industry and to only work with reputable and trustworthy firms.
How can I withdraw money from a prop trading account?
The process for withdrawing money from a prop trading account can vary depending on the firm you are using. Some common withdrawal options include bank transfers, wire transfers, and check withdrawals.
You may also have the option to withdraw funds directly to your credit or debit card. It's important to check with your prop trading firm to find out what options are available to you and to understand any applicable fees or restrictions.
Is prop trading difficult?
Prop trading can certainly be challenging, especially for those who are new to the financial markets. It requires a solid understanding of market dynamics and the ability to make informed trading decisions.
Traders must also be disciplined, patient, and have a strong understanding of risk management to be successful. However, it’s possible to make prop trading successful with the right training, experience, and support. If you're considering prop trading, it's important to be prepared to invest the time and effort needed to learn and develop your skills.
Related Articles
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).