Best instant funding Forex prop firms in 2024
Experts have identified the following firms in the list of Best instant funding Forex prop firms in 2024:
Fidelcrest
Fidelcrest provides two distinct types of instant funding accounts, specifically tailored to suit traders with varying levels of experience. The Pro Trader Program caters to seasoned traders who possess well-developed risk management skills and reliable trading strategies. Within this program, traders can opt for either a Normal Account or an Aggressive Account, featuring initial balances ranging from $150,000 to $1,000,000. It is important to note that the option to commence with a capital of $1,000,000 is exclusively available to Normal Pro Traders.
To attain the status of a funded trader at Fidelcrest, the completion of a comprehensive two-phase evaluation process is required. The initial phase, known as the Fidelcrest Trading Challenge, grants traders the opportunity to engage in trading activities with an account size of their preference. Should an initial attempt prove unsuccessful, there is no cause for concern, as traders are accorded unlimited opportunities to make subsequent endeavors.
For novice traders seeking to refine their trading skills before venturing into larger account management, the Micro Trader Program is an ideal choice. This program imparts fundamental risk management skills and presents traders with the opportunity to commence earning profits upon successful completion of a single evaluation phase.
In contrast to certain other firms, Fidelcrest refrains from imposing a minimum requirement of trading days to qualify for a funded account. As a result, traders can swiftly secure funding, with instances of same-day account funding possible.
A key aspect that Fidelcrest prides itself on is its exceptional Customer Support Team, accessible across the globe. This affable and knowledgeable team remains available through Live Chat, ensuring traders' queries and concerns are promptly addressed, with responses typically provided within a matter of minutes.
5%ers
As one of the oldest and most reliable prop firms in the industry, The 5ers has gained a solid reputation for its commitment to supporting traders' growth and success. The firm specializes in Forex trading, offering traders the opportunity to trade live accounts right from day one without the need for trial accounts. This means that traders can start applying their trading strategies and techniques immediately, experiencing the real market environment and potential profits. Traders choosing 5%ers can enjoy instant funding without the need for evaluation, allowing them to start trading on a live account immediately. The profit split is an equal 50/50, and timely monthly payments are guaranteed. Additionally, traders have the freedom to use any trading strategy, and there is a one-time fee with no recurring monthly payments. 5ers also provides traders with the flexibility to trade in their preferred style, whether it's manual trading, using expert advisors (EAs), or copy trading. This accommodates diverse trading preferences and allows traders to leverage their strengths.
5%ers offers two account types with distinct features:
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Risk Manager Program: This program provides a relaxed trading environment with no time pressure. Traders have a 6% or 7% profit target on Level 1, and they can withdraw their earnings as they progress. The program also offers 10% profit targets for doubling the account size. The leverage provided is 1:10, allowing traders to maximize their trading potential
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Aggressive Trader Program: Designed for those seeking an exciting trading experience with fewer rules, this program sets a 12% profit target on Level 1. Traders can withdraw their profits as they grow their account. The program also offers 25% profit targets for doubling the account size. With leverage of 1:30, traders have the opportunity to amplify their trading positions
Both account types at 5%ers aim to cater to different trading preferences and risk appetites. Traders can choose the program that aligns with their trading style and goals, providing them with flexibility and potential for growth in their funded forex account.
BluFX
BluFX stands out among leading prop firms with its unique instant funding options and two distinct growth features. Unlike other firms, BluFX does not charge a one-time fee but instead requires a fixed monthly subscription fee based on the chosen account type and size.
Traders can opt for the instant funding program accounts, which come with a withdrawal profit target of 5%, a scaling profit target of 10%, and a maximum loss limit of 10%. However, there are limitations on lot sizes, and trades cannot be held over the weekends. Copy trading services and EAs are also not allowed. While BluFX has a monthly subscription fee and relatively low leverage compared to other industry-leading proprietary trading firms, its attractive scaling plan sets it apart. It should be noted that the accounts require a monthly subscription fee, and traders must adhere to lot size limitations and trade with low leverage of 1:3.
With the advantage of instant funding, traders can access capital ranging from $10,000 to $100,000 without the need to pass a challenge. By approaching trading with the right strategies, traders have the potential to make Forex their primary source of income. BluFX does not charge spreads or trading fees on transactions, as these charges are determined by liquidity providers and depend on various factors such as chosen assets and global market conditions.
Glow Node
Glow Node presents traders with three account options featuring flexible funding conditions. Traders can choose to undertake either a 1-phase or 2-phase challenge, or they can opt for instant funding. With instant funding, traders contribute 10% of the maximum drawdown limit to their Glow Node account. For instance, if they select a $100,000 balance with a $5,000 drawdown, they transfer $500 to their account. If traders' accounts reach the maximum scaling, they can be eligible for a refund of this fee. The profit split initially begins at 80% and has the potential to increase to 90% during scaling, distinguishing Glow Node as one of the few firms in the market that provides instant funding under such terms.
Traders are given the flexibility to choose among a standard account, an accelerated challenge option, or an account with instant funding. The minimum deposit required is $450, while the maximum balance attainable is $100,000, with a total drawdown limit of up to 5%. Glow Node also offers a fee refund option, enabling traders to reclaim their evaluation fee. To qualify for this refund, traders need to withdraw at least 15% of their profits and achieve a maximum scaling target equivalent to (scaled * 5).
Glow Node Prop Firm additionally offers supplementary features that cater to traders' preferences. These include the ability to hold trades over weekends, allowing traders to take breaks from their trading accounts during weekends. Moreover, traders can extend their weekend trading days to optimize their daily profits. The firm also supports copy trading from external accounts owned by friends or colleagues, enabling traders to replicate trades into their Glow Node accounts. However, trading off another account within the firm, including one's own account, is strictly prohibited.