Best Forex Proprietary Trading Companies in Kuala Lumpur
The best Forex prop firm in Kuala Lumpur - Topstep
Best Forex Prop Firms in Kuala Lumpur:
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Topstep - Recognized in Kuala Lumpur for its trader development programs and funding opportunities
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Fidelcrest - Known in Kuala Lumpur for its robust trader evaluation process and competitive profit-sharing schemes
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BluFX - A prominent name in Kuala Lumpur, offering traders access to substantial capital and a platform to hone their trading skills
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5.7
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5.28
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6.68
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This article will delve into Forex prop trading in Kuala Lumpur. This rating includes companies with offices in Malaysia or accepting clients from the country. Through comprehensive comparisons and insights, we provide you with a guide to the city's best Forex proprietary trading accounts.
What Is Prop Trading?
Proprietary trading (also known informally as Prop trading) refers to when a financial institution such as a commercial bank, a brokerage firm or even an investment bank directly trades or invests in activities in the stock market. These organizations can trade bonds, stocks, commodities, derivatives, currencies, and other instruments.
These institutions use their own funds for trading and investing in the stock market and not their clients’ money. So on top of the commission from processing trades for their clients, they can earn the full profits from engaging in the trades as well.
Top 3 prop trading accounts in the Kuala Lumpur
Topstep - recognized in Kuala Lumpur for its trader development programs and funding opportunities
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 personalized 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.
Fidelcrest - known in Kuala Lumpur for its robust trader evaluation process and competitive profit-sharing schemes
With more than 6,000 traders worldwide, Fidelcrest has a strong reputation. The company offers performance coaching, million dollar account sizes, and up to a 90% profit split. During a limited time, Fidelcrest is also offering three bonuses, including a second chance challenge, fast track qualification, and double assets.
With Fidelcrest, you can trade real capital, with the industry’s highest profit split. Fidelcrest will invest real money after your two phases of evaluation.
In terms of tradable assets, Fidelcrest also stands out. In addition to Forex, you can also trade, commodities, indices, and stocks.
Fidelcrest is one of the prop firms that pays you a commission during the evaluation process. You can receive up to 50% of your earnings after you pass the second evaluation stage. As a funded Findelcrest trader, you’ll make an additional 80-90%.
The number of account options Fidelcrest offers is unmatched by any other company. There is an account that will meet your needs regardless of your risk tolerance, trading strategy, level of experience, or budget. There are three types of accounts: Pro Accounts, Aggressive Accounts, and Micro Accounts. You can open an account with funding of $10,000, all the way up to an account worth $1 million.
BluFX - a prominent name in Kuala Lumpur, offering traders access to substantial capital and a platform to hone their trading skills
With BluFX, you have an option to have your Forex-only prop trading account funded instantly, up to $50,000. With their simple, generous trading parameters and great reputation, they’ve funded more than 20,000 traders.
Unlike many prop firms these days, BluFX keeps things simple. Demo accounts and evaluations aren’t required. Create an account and you'll receive real capital as soon as possible.
The parameters of their trading are just as straightforward. Calculating trailing drawdowns or anything similar isn't necessary. Just make sure you don't withdraw more than 10% of your account's initial balance when you withdraw. And whenever you sign up for an account, never let it fall below $45K. That's all there is to it.
In addition to being simple, these parameters are pretty loose compared to other prop firms, some of whom have maximum drawdown limits as low as 4%. There’s no tight leash with BluFX, so you can trade freely.
Also, BluFX deserves praise for its scaling strategy. In just four steps, you can scale up to a $1 million Pro Account from a $50K account. The only thing you have to do is keep hitting 10% profit targets without withdrawing. The Steady Growth program allows you to take out a portion of your profits while still reaching $1 million over six phases.
BluFX also makes it easy to withdraw profits. Once you've made a 5% profit, you can cash out. As part of their 10th anniversary celebration, BluFX is offering great rates. A "Lite" account has an instant balance of $25,000, while a "Pro" account has a balance of $50,000. A $25K account costs £99 a month, while a $50K account costs £249.
One-time fees are available with BluFX's Anniversary Account, which costs £269 for a limited time. Unlike their standard accounts, it has a probationary period and tighter trading parameters.
Is Forex prop trading a good idea in Kuala Lumpur?
Forex prop trading, an abbreviation for proprietary trading, is a financial practice where traders utilize a firm's capital to trade instead of their funds. This model is gaining traction in global hubs, including Kuala Lumpur, as it presents a unique blend of trading opportunities and challenges.
👍 Pros
• Zero personal risk. The standout advantage of Forex prop trading is eliminating personal financial risk. Traders can showcase their skills, strategies, and market insights without jeopardizing their capital. This becomes a significant draw, especially for budding traders apprehensive about initial heavy investments
• Reputable firms. Kuala Lumpur's financial market has seen an influx of several well-established international prop trading firms. Their global stature brings a robust framework of advanced trading technologies, profound market insights, and invaluable educational resources. Collaborating with these giants offers traders in Kuala Lumpur a chance to be a part of the global trading ecosystem
👎 Cons
• Strict eligibility criteria. A significant deterrent for many is the challenging entry barriers these prop trading firms set. Candidates must often demonstrate a proven track record, exhibit advanced trading skills, and sometimes even undergo rigorous assessments. Such stringent requirements ensure the firm's capital is in seasoned hands but can be intimidating for newcomers
• Strict trading guidelines. Prop trading doesn't offer free rein. Firms impose a detailed set of rules and protocols. Though established to uphold legal compliance and risk management, these guidelines can sometimes be perceived as restrictive. They are designed to preserve the trading process's integrity but might limit a trader's flexibility in decision-making
Are international prop trading firms legit in Kuala Lumpur?
When considering international prop trading firms in Malaysia, legitimacy and regulatory compliance are paramount. It might be legal for international prop trading companies to function in Malaysia, but assessing their legitimacy is crucial.
Regulatory oversight. Check if credible financial authorities regulate the prop firm in its home country. Such regulation ensures the firm's operations align with industry norms
Reputation. Dive deep into the prop firm's history. Seek feedback from traders, scrutinize reviews, and delve into any potential red flags
Legal adherence. Though not mandatory to be licensed in Malaysia, international prop firms should still honor local legal requirements when catering to Malaysian residents
How to choose a prop trading account in Kuala Lumpur?
When choosing a prop trading account in Kuala Lumpur, consider the following:
Reputation matters. Gauge a firm's reputation. Use platforms like TrustPilot to check out forums, groups, and YouTube reviews
Your trading style. Suppose the prop firm's restrictions align with your trading style. Some cater more to scalpers, while others favor swing traders
Long-term potential. Remember, initial steps with any prop firm might be less lucrative. They wish to evaluate your capabilities before entrusting you with funds
Is prop trading in Kuala Lumpur free?
While prop trading in Malaysia enables traders to attract funds and capitalize on more significant trading amounts, realizing that there are typically subscription fees is pivotal. These fees range between $75 to $500. Prop firms might grant traders access to their capital, but they also claim a share of the profits. This arrangement lets traders access more substantial money, amplifying their potential profits. When weighing the potential benefits against the fees, consider factors such as the firm's reputation, trading conditions, and support services.
FAQs
Is prop firm legal in Malaysia?
Yes, prop trading firms are legal. Although they may not be registered in Malaysia, many allow Malaysian citizens to access their funded accounts.
Is there a list of prop trading firms?
Companies like 3Red Partners, Akuna Capital, Belvedere Trading, Chicago Trading Company, FTMO, My Forex Funds, and Lux Trading Firm rank among the best proprietary trading firms.
How much do prop firms pay traders?
On average, prop traders can earn approximately $122,000 annually.
Which is the most trusted prop firm?
Some of the most reputable prop firms include Traders With Edge, Fidelcrest, City Traders Imperium, 3Red Partners, and Akuna Capital.
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.
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Alamin Morshed is a contributor at Traders Union. He specializes in writing articles for businesses who want to improve their Google search rankings to compete with their competition.
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).