Best Forex Proprietary Trading Companies in Italy
Best Forex prop firm in Italy - TopStep
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TopStep - best funding conditions overall
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SurgeTrader - only 1 stage evaluation process
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FTMO - 44 supported currency pairs
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E8 Funding - scaling plan up to $1.000.000
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Earn2Trade - 20+ trading platforms
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5.7
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5.28
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6.68
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Prop trading can be interesting and appealing for traders in Italy for several reasons. Its main strength lies in the opportunity it provides for traders to access significant trading capital without needing to invest their own funds. This allows traders to take advantage of the potential profits in the Forex market while minimizing their personal financial risk.
Additionally, best prop trading firms often offer valuable resources such as training programs, mentorship, and advanced trading tools, which can enhance traders' skills and improve their chances of success in the highly competitive Forex industry.
This Traders Union guide focuses on providing an overview of the best Forex proprietary trading companies in Italy. It aims to assist Italian clients in identifying reputable firms for their Forex trading needs.
Is Forex prop trading a good idea in Italy?
Forex proprietary trading refers to a trading arrangement where individuals trade with a firm's capital rather than their own. It offers distinct advantages and disadvantages for Italian clients interested in pursuing this trading approach. Let’s consider main pros and cons of prop trading:
👍 Forex prop trading pros:
•Risk-Free Accounts: Forex prop trading companies often provide traders with risk-free accounts, allowing them to practice and refine their strategies without risking personal funds.
•Larger volumes-Larger profits: Forex prop firms typically offer access to substantial capital, allowing traders to trade larger volumes and potentially increase their profitability.
•Established International Players: Many Forex prop trading companies operating in Italy are renowned international players, providing clients with the credibility and stability of trading with established institutions.
•Training and Support: Proprietary trading firms often provide comprehensive training and support to their traders, assisting them in enhancing their skills and knowledge in Forex trading.
•Profit Sharing: Leading Forex prop firms offer profit-sharing arrangements, allowing successful traders to receive 75-90% of the profits they generate.
👎 Forex prop trading cons:
•Qualification Challenges: Joining a Forex prop trading program can be challenging, as firms often have strict qualification criteria, including trading experience, track record, and performance requirements.
•Strict Rules and Guidelines: Traders participating in Forex prop trading must adhere to the firm's rules and guidelines, which may include restrictions on trading strategies, risk management, and profit distribution.
•Limited Independence: Traders engaged in Forex prop trading operate under the firm's guidelines and are subject to their supervision, which may limit their trading autonomy and decision-making.
It's important for Italian clients to carefully consider these advantages and disadvantages before engaging in Forex prop trading, ensuring that it aligns with their trading goals, risk tolerance, and personal preferences.
Top 5 Forex prop trading accounts in Italy
TopStep - profit split up to 90%
Topstep has established itself as a trusted and innovative leader in the industry. To participate in Topstep's funded account program, all traders begin by completing the Trading Combine stage. This allows you to open a real-time simulated futures account with buying power options of $150,000, $200,000, or $300,000.
During the Trading Combine, you have the opportunity to earn a funded trading account by showcasing consistent profitability and effectively managing risk. Once you qualify, you can trade in real time using Topstep's capital, eliminating the personal financial risk. Impressively, traders can qualify for a funded account in as little as eight trading days, with the amount of funding provided determined by the selected Trading Combine plan.
When it comes to profit withdrawals, you can withdraw the first $5,000 in profits in full, and 90% of any profits exceeding that amount are also available for withdrawal.
Topstep's commitment to trader development is evident through their range of services. They provide instruction from professional traders, offer tools and daily live videos, deliver personalized analytics on performance, and even provide bonuses to traders. Topstep supports a variety of trading platforms, including TradingView, NinjaTrader, Sierra Chart, TSTrader, MultiCharts, and many more. This allows traders to choose the platform that best suits their preferences and trading strategies.
Pricing for Topstep varies depending on the account size. For a $50,000 account, pricing starts at $165 per month. $100,000 accounts cost $325 per month, and $150,000 accounts are priced at $375 per month. Additionally, Topstep offers a 14-day free trial, allowing traders to experience their services before committing.
SurgeTrader - 1 stage evaluation process
SurgeTrader is an excellent choice for Italian traders looking for the leading prop firm. This prop firm offers a competitive profit split up to 75% to funded traders who meet their trading criteria. Unlike many other prop trading entities, SurgeTrader follows a streamlined evaluation process with only one phase.
Traders of all skill levels can select from six different packages offered by SurgeTrader. The Starter Package, ideal for beginners, provides $25,000 in instant funding and sets a 10% profit target. With a maximum trailing drawdown of 5%, this package offers a more conservative approach.
On the other hand, the Master Package, which is the highest-tier account, comes with a funding size of up to $1 million and a 75% profit split. It sets a 10% profit target, a four-percent daily loss limit, and a five-percent maximum trailing drawdown. This package is suitable for experienced traders.
SurgeTrader provides a wide variety of tradable securities, including cryptocurrencies, gold, and popular stock indices. Traders have the flexibility to leverage up to 1:20, allowing them to amplify their trading positions.
To become a part of SurgeTrader, all clients are required to undergo evaluations. The SurgeTrader Audition process consists of a single phase, and there is no specific requirement to earn over 10% of your account balance to pass the audition.
The audition fees range from $250 (Starter package) to $6,500 per account, and there is no limit to the number of times you can take the audition. Payments and withdrawals can be made conveniently using credit/debit cards and PayPal.
FTMO - best for currency traders
To qualify for a funded trading account at FTMO, you will need to successfully complete a rigorous three-step process designed to evaluate your trading abilities:
Step 1: FTMO Challenge - In this initial phase, you are required to meet specific profit targets within a 30-day period. The aim is to demonstrate consistent profitability and trading skills.
Step 2: Verification Procedure - After successfully completing the FTMO Challenge, you progress to the 60-day Verification Procedure. During this phase, you must show that you can replicate your trading success from the previous step, further validating your trading abilities.
Step 3: Account Offering - Upon successful completion of the FTMO Challenge and Verification Procedure, FTMO will contact you with an offer to trade their capital. Account sizes range from $10,000 to $400,000, providing traders with opportunities at different funding levels.
One notable strength of FTMO lies in its focus on currencies, making it an excellent choice for traders interested in Forex trading. With FTMO, you have access to trade 44 currency pairs and 10 cryptocurrencies. Additionally, you can also trade cash indices, commodities, and stock CFDs, diversifying your trading portfolio.
FTMO supports the three most popular Forex trading platforms, namely MetaTrader 4, MetaTrader 5, and cTrader, offering free versions for traders to utilize.
The participation fee varies depending on the account size. For instance, the fee for the 10k account starts at 155 EUR, while the 25k account is 250 EUR, the 50k account is 345 EUR, the 100k account is 540 EUR, and the 200k account is 1,080 EUR. Traders receive capital ranging from $10,000 to $400,000 and benefit from an 80/20 profit split, where they receive 80% of the profits they generate with the provided capital.
Furthermore, FTMO offers a Scaling Plan for funded accounts, allowing traders to enhance their Profit Split in their favor. This plan enables profit splits of up to 90:10, favoring the trader, for account sizes up to $2,000,000.
E8 Funding - for MT4/MT5 trading experience
E8 Funding is a registered proprietary trading firm operating in both the USA and the Czech Republic, catering to traders from various countries without regional restrictions. Their account offerings range from $25,000 to $250,000, with the potential to increase up to $1 million.
The trading instruments available encompass a wide range, including currency pairs, stocks, indices, energies, metals, and cryptocurrencies. E8 Funding allows clients to trade on weekends, utilize advisors and bots, implement hedging strategies, and copy trades. Trading activities can be conducted on the popular MetaTrader 4 and MetaTrader 5 platforms, including their mobile versions.
Partners of E8 Funding benefit from an 80% net profit share, while the remaining 20% is retained by the company. This profit split is applicable across all account types and phases. The challenge itself takes place on real accounts and comprises two or three phases, depending on the chosen account type. Time limits are in place for each phase. Following the challenge, standard limits are established, allowing for an 8% overall drawdown and a 5% daily drawdown. Notably, there are no compulsory profit targets imposed on traders.
Earn2Trade - affordable Gauntlet Program
Earn2Trade provides three distinct funded trading programs: The Gauntlet Program, The Gauntlet Mini, and the newly introduced Trader Career Path.
For the Gauntlet Program, traders are required to make a one-time payment. They manage a virtual account of $25,000 for 60 days and must trade for a minimum of 30 calendar days, at least once every week. By following the program guidelines and achieving a 10% profit target, successful candidates receive a guaranteed funding offer from either Helios Trading Partners or Appius Trading.
Similar to the Gauntlet Program, the Gauntlet Mini and Topstep Futures/Forex programs require traders to pay a monthly fee. The fee includes access to trading classes, webinars, and Journalytix (TM). By adhering to the guidelines, traders become eligible for a funded trading account based on their performance.
The newest addition to Earn2Trade's offerings is the Trader Career Path. Traders start with a $25,000 virtual capital account and, upon passing the Evaluation, receive a funded account of $25,000. Traders can then progress in their trading careers and handle assets worth up to $200,000 without paying a monthly subscription fee.
Earn2Trade stands out with its extensive selection of trading platforms, offering close to 20 options. Popular choices include NinjaTrader, Finamark, R|Trader, and Overcharts, while additional platforms such as Agena Trader and MultiCharts are also supported.
Regarding pricing, the Trader Career Path program costs $150 per month with a starting capital of $25,000. The Gauntlet Mini program offers five account sizes, ranging from $25,000 to $150,000, with corresponding monthly fees. The conventional Gauntlet challenge requires a one-time fee of $343.2. Earn2Trade accounts do not offer free trials, but discounts of 20% to 40% are available. Traders receive 80% of the profits they make from the capital provided.
Are international prop trading firms legit in Italy?
An important question for traders from Italy, are prop companies legal? The short answer is yes, international prop trading firms can operate in Italy as long as they comply with the applicable laws and regulations, including those related to financial services, securities, and investment activities.
In general, since Forex prop companies are not financial brokers, they are less regulated in Italy. It is advisable for individuals or firms to consult with legal and financial professionals who specialize in Italian regulations to ensure compliance and understand the specific requirements for operating as a prop trading firm in Italy.
How to choose a prop trading account in Italy?
When choosing a prop trading account in Italy, here are five steps with key tips to consider:
Seek out firms that have established themselves as reputable entities with a successful history in the industry. Read online reviews and testimonials from fellow traders to gauge their experiences. Also, familiarize yourself with the regulatory framework governing prop trading in Italy.
Consider the funding options and capital allocation offered by the prop trading firm. Assess the minimum account size, the maximum funding available, and any fees or costs associated with opening and maintaining the account. Ensure the funding structure aligns with your trading goals and risk appetite.
Evaluate the trading platforms and tools provided by the prop trading firm. Look for user-friendly platforms that offer reliable execution, advanced charting capabilities, risk management tools, and access to a wide range of tradable instruments.
Understand the profit-sharing structure and performance metrics of the prop trading account. Consider the percentage of profits retained by the firm and the portion allocated to the trader. Look for transparent and fair profit-sharing arrangements that reward your trading success. Additionally, review any performance evaluation criteria or targets that you need to meet to maintain the funding.
Seek Support and Education: Consider the level of support and educational resources offered by the prop trading firm. Look for firms that provide training programs, mentoring, educational materials, and access to experienced traders. A supportive environment can enhance your trading skills and increase your chances of
Ultimately, the choice of a prop trading account in Italy will depend on your individual trading preferences, goals, and risk tolerance. It's essential to carefully assess and compare different firms based on these factors to find the best fit for your trading journey.
Are Forex prop trading in Italy free?
Forex prop trading firms in Italy typically do not charge commissions to their clients. However, it's important to note that these companies often have an audition fee, which can range from 75 euros to 250 euros for beginners, depending on other conditions.
The package price is not the sole criterion to consider when choosing a firm, as the overall value should be assessed based on factors such as services provided and support offered. Additionally, traders should account for brokerage fees when transitioning to live trading with real money.
Is Forex prop trading riskу?
Trading with a prop company is somewhat less risky as traders tend to trade with the company's funds. However, traders must take into account such challenges:
Market Volatility: Traders must be prepared for sudden market movements that can result in substantial gains or losses.
Leverage Risk: Forex prop trading often involves the use of leverage, which allows traders to control larger positions with a smaller amount of capital. While leverage can amplify profits, it also magnifies losses.
Operational Risks: Engaging in prop trading requires using trading platforms and technologies, which may be susceptible to technical glitches, connectivity issues, or cyber threats. These operational risks can disrupt trading activities and result in financial losses.
It's important for traders to thoroughly understand the risks involved and implement effective risk management strategies, such as setting stop-loss orders, diversifying their portfolios, and continuously educating themselves about the market dynamics.
FAQ
What is the tax on Forex trades in Italy?
In Italy, profits from Forex trades are subject to capital gains tax, which is currently set at a flat rate of 26%.
Can you trade Forex as a side hustle?
Yes, Forex trading can be pursued as a side hustle. However, in order to be successful, traders should dedicate a significant part of their time to Forex trading, as it requires a lot of skills and experience.
Is Forex Prop firm legit in Italy?
Yes, Forex prop firms in Italy can be legitimate entities. However, it is important to research and choose reputable firms that comply with regulatory requirements and have a track record of credibility.
What is a Forex prop firm?
A Forex prop firm, or Forex proprietary trading firm, is a company that provides funding and trading capital to traders. Traders trade on behalf of the firm and share a portion of their profits with the firm in return.
Methodology for compiling our ratings of prop firms
Traders Union applies a rigorous methodology to evaluate prop companies using over 100 quantitative and qualitative criteria. Multiple parameters are given individual scores that feed into an overall rating.
Key aspects of the assessment include:
Trader Testimonials and Reviews. Collecting and analyzing feedback from existing and past traders to understand their experiences with the firm.
Trading instruments. Companies are evaluated on the range of assets offered, as well as the breadth and depth of available markets.
Challenges and Evaluation Process. Analyzing the firm's challenge system, account types, evaluation criteria, and the process for granting funding.
Profit Split. Reviewing the profit split structure and terms, scaling plans, and how the firm handles profit distributions.
Trading Conditions. Examining leverage, execution speeds, commissions, and other trading costs associated with the firm.
Platform and Technology. Assessing the firm's proprietary trading platform or third-party platforms it supports, including ease of use, functionality, and stability.
Education and Support. Quality and availability of training materials, webinars, and one-on-one coaching.
Glossary for novice traders
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Trading
Trading involves the act of buying and selling financial assets like stocks, currencies, or commodities with the intention of profiting from market price fluctuations. Traders employ various strategies, analysis techniques, and risk management practices to make informed decisions and optimize their chances of success in the financial markets.
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Broker
A broker is a legal entity or individual that performs as an intermediary when making trades in the financial markets. Private investors cannot trade without a broker, since only brokers can execute trades on the exchanges.
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Prop trading
Proprietary trading (prop trading) is a financial trading strategy where a financial firm or institution uses its own capital to trade in various financial markets, such as stocks, bonds, commodities, or derivatives, with the aim of generating profits for the company itself. Prop traders typically do not trade on behalf of clients but instead trade with the firm's money, taking on the associated risks and rewards.
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Forex Trading
Forex trading, short for foreign exchange trading, is the practice of buying and selling currencies in the global foreign exchange market with the aim of profiting from fluctuations in exchange rates. Traders speculate on whether one currency will rise or fall in value relative to another currency and make trading decisions accordingly.
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Leverage
Forex leverage is a tool enabling traders to control larger positions with a relatively small amount of capital, amplifying potential profits and losses based on the chosen leverage ratio.
Team that worked on the article
Andrey Mastykin is an experienced author, editor, and content strategist who has been with Traders Union since 2020. As an editor, he is meticulous about fact-checking and ensuring the accuracy of all information published on the Traders Union platform. Andrey focuses on educating readers about the potential rewards and risks involved in trading financial markets.
He firmly believes that passive investing is a more suitable strategy for most individuals. Andrey's conservative approach and focus on risk management resonate with many readers, making him a trusted source of financial information.
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).