Best Forex Proprietary Trading Companies In Colombia

Is Forex prop trading a good idea in Colombia?

Yes, forex prop trading is a smart idea in Colombia, but it has advantages and disadvantages that you should weigh carefully before beginning. Check out the pros and cons below to help you make better decisions.

Top 5 prop trading accounts in Colombia

Topstep

Topstep Review

Open an account

Your capital is at risk.

With its brand power and reputation as an industry innovator and one of Inc 5000’s fastest-growing companies, Topstep has earned the trust of many traders. To participate in the funded account program, all traders begin with the Trading Combine. You can open a real-time simulated futures account with $150K, $200K, or $300K buying power. During the Trading Combine, you can earn a funded trading account if you demonstrate consistent profitability and manage risk appropriately. Using Topstep's capital, you can trade in real time without personal financial risk, with funds provided by Topstep.

• As quickly as within eight trading days, traders can qualify to receive a funded account (the amount of funding provided is determined by the Trading Combine plan).

• The first $5,000 in profits you make can be withdrawn in full, and 90% of profits exceeding that amount can be withdrawn.

• With Topstep, payout requests are processed on a daily basis (payout requests made prior to 10 a.m. CT are processed on the same day).

• Topstep’s trader development services include instruction from professional traders, tools, and daily live videos, along with personalised analytics on performance and bonuses for traders.

Trading platforms supported include TSTrader, TradingView, NinjaTrader, Sierra Chart, MultiCharts, R|Trader Pro, and many more.

For a $50k account, Topstep pricing starts at $165 per month. $100k accounts cost $325 per month, and $150k accounts cost $375. Free trials are also available for 14 days.

The5ers

The5ers Review

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Your capital is at risk.

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.

General Conditions Review

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.

Costs

The entry cost ranges from $275 to $875.

How Much Money Can You Attract?

The 5%ers offer a 50/50 split on profits.

Fidelcrest

Fidelcrest Review

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Your capital is at risk.

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

FTMO

FTMO Review

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Your capital is at risk.

FTMO is a managing prop firm operating on the principle of a prop company. To receive money under management, a potential trader must successfully complete a two-stage active trading test. At each stage, requirements are set for the maximum allowable daily loss, total loss, and target profit level. The prop firm’s conditions are relatively loyal, but still, they can be difficult to successfully navigate. Regardless of the chosen testing package, the limits are 10% of the total loss. For comparison: other prop companies have allowable drawdowns of 15-20%. Despite the strict requirements for the test period, FTMO has a relatively low test cost beginning at €155. By comparison, in most companies in this sector, the entrance fee for passing the test is from €400-500. Another advantage is the availability of standard MT4/MT5 platforms. Most other prop companies have their own or adapted platforms, while FTMO has standard platforms. This allows you to work with any custom indicators and advisors previously honed in the MetaTrader tester. My impression of FTMO remains positive. But after studying the conditions, it is clear that without trading experience, it makes no sense to try your hand at the test. Testing conditions are favourable for those who have worked previously with a demo account and are good at risk management. However, you can also gain experience on the company’s platform itself. There is a free version of the test that fully corresponds to the paid test.

Costs

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.

How Much Money Can Attract?

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 favour up to 90:10 with account sizes up to $2,000,000.

Earn2Trade

Earn2Trade Review

Open an account

Your capital is at risk.

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.

Costs

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.

How Much Money Can You Attract?

Traders earn 80% of all the profits they make off the capital received.

Are international prop trading firms legit in Colombia?

Yes, prop trading firms are legitimate businesses and exist as real companies in Colombia. While they may not be directly registered in Colombia, some international prop trading firms allow citizens from Colombia to access their funded accounts.

How to choose a prop trading account in Colombia?

To make sure that your prop trading account in Colombia is in line with your risk tolerance and financial goals, it is important to give it a lot of thought before choosing anyone. To make things easier for you, consider these very important tips from TU experts:

• 1

  Educate yourself. Without the right education about forex trading, success in either trading with prop firms or trading with the traditional broker will be almost impossible. Before you take up a funded account, go for knowledge and get trading skills first. After carefully analysing your trading style and performance, you need to confirm if the prop firm you intend to trade with allows your type of trading style.

• 2

  Check the reputation of the prop trading firm. When choosing a prop trading firm, look for reviews and testimonials from other traders to learn about their prior experiences. A reputable, well-established firm is more likely to offer a safe and open trading environment.

• 3

  Understand the funding process and fees. Carefully review the terms and conditions related to funding and fees.

• 4

  Understand the risk management policies. Understand the risk management policies of the prop trading firm. This includes knowing the maximum drawdown limits, risk parameters, and other factors that may impact your trading activities.

• 5

  Check out the customer service. Check out the firm's customer service offerings as well. It is important for the firm to have dependable customer service, particularly for newcomers who might have queries or issues.