Best Forex Proprietary Trading Companies in the UK
Best Forex Prop Firm In the UK - FTMO
Top Forex prop firms in the UK are:
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FTMO - up to 2M funding account
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Topstep - best for futures trading
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Fidelcrest - best profit split
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SurgeTrader - biggest variety of tradable assets
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5
The5ers - best instant deposit prop firm
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5.7
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5.28
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3
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6.68
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A funded account issued by Forex prop firms is not for inexperienced traders. And it is not only for traders who cannot afford between 50 and 250 dollars, which is required when signing up with prop trading companies in the UK. However, if you are vast in Forex trading and have a few bucks to deposit, you can get a handsomely funded account to trade currency pairs in the UK.
But you should be doing this with the best Forex proprietary trading firms. So while prop trading companies in the UK are supporting skilled traders who need financial support, registering with the best prop firm is crucial. Finding the best prop firms in the UK can be tedious, considering the number of firms available.
But the 5 best Forex proprietary trading firms you are about to discover in this article will provide you with the best-funded accounts. Read to know them.
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How do I qualify for a funded prop trading account?
Traders must typically pass a testing or verification period where they demonstrate consistent profitability. They must follow the firm's trading rules and show an ability to manage risk.
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How much funding can I qualify for?
Funding amounts vary between prop firms but commonly range from $10,000 to $2,000,000 for top traders.
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Are there any monthly fees?
Prop firms may charge monthly subscription, platform or software fees ranging from $100-300 to access their services and accounts.
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How long do challenges/testing periods last?
Verification periods usually range between 30-60 days.
Is Forex prop trading a good idea in the UK?
Prop trading is a good idea in the UK only when you register with the best Forex prop firms. A prop firm allows experienced traders to trade with large, well-funded Forex accounts. They offer retail Forex traders an incredible opportunity. But finding the best trading companies in the UK is a challenging endeavor that can yield profits for traders with the necessary expertise.
Traders in the UK can achieve their goals in the Forex industry by partnering with top Prop trading companies in the UK. However, since some prop firms are misleading, traders should conduct exclusive research. Traders should beware that some prop firms deceive traders into believing they are trading with a real account, whereas it is a virtual account. But you can reduce these risks if you sign with a prop firm that issues an account with real money.
A trader can use several real money prop firms to diversify their investments. This is a strategy that lowers risk while increasing profits in the markets.
Below are some advantages and disadvantages of trading with a Forex proprietary trading firm:
👍 Pros
• Trading with the top prop trading companies in the UK does not involve risk because investors do not use their cash in trades
• All you need to do to be eligible for funded access to an account is prove that you are an experienced Forex trader during the assessment
• Prop firm companies in the UK are primarily well-known global players that offer the best trading-optimized environment supported by cutting-edge technology
• On the platform, traders can cooperate, learn new things, and develop their skills
• Prop trading firms allow you to have more than a thousand open orders simultaneously and let you choose among several platforms
• Prop firms typically offer lower commissions than brokers
• Prop trading firms provide rebates, prompt client support, and easy phone resolution for any problems
• Proprietary businesses typically have lower operating costs because they are subject to fewer regulations. This allows them to split their income with the trader at a rate that benefits them
• Prop firms enable traders to trade with large leverage
• Top prop companies offer free training materials and resources, including group coaching
• Being inexperienced in prop trading is possible because most prop firms offer simulation accounts
👎 Cons
• A Forex proprietary trading firm evaluates traders, and the evaluation process can be tough
• Prop firms have strict policies, and neglecting to abide by them could result in the immediate suspension of your account
• Profits are shared, and the deposit is not insured and is liable for fraud and other business
• Most prop trading firms that provide remote trading are not regulated
• The majority of Forex prop firms charge fees for the software you use, even if you trade remotely
• The high expenses of prop trading include assessment, withdrawal, subscription, and other fees
Top 5 prop trading accounts in the UK
FTMO - up to 2M funding account
FTMO is a trustworthy prop trading company with a focus on Forex trading. You must go through three steps before getting a funded trading account:
Before you can meet the profit goals, you have to complete the FTMO Challenge in 30 days
The 60-day Verification Phase follows, wherein you must demonstrate that you can replicate your FTMO Challenge success
After you complete the FTMO Challenge and the Verification two-step assessment process, FTMO extends an invitation to trade their funds on accounts with balances ranging from $10,000 to $400,000
The trader retains 80% of the profits. For accounts that have already been funded, however, an extra scaling plan lets traders increase the profit split in their favor for up to 90/10 with account levels as high as $2,000,000.
Trading is possible with 44 currency pairs and 10 of the biggest and most well-known cryptocurrencies. Some cash indices, stock CFDs, and commodities can also be traded. The fees on FTMO start at 155 euros and go up to 1080 euros.
Topstep - best for futures trading
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 - best profit split
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 stock shares.
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.
SurgeTrader - biggest variety of tradable assets
SurgeTrader offers a 75% profit split to funded traders who meet their trading criteria. It's the perfect prop firm to diversify your investment portfolio with a variety of tradable assets. SurgeTrader has only one phase of evaluation, unlike many other prop firm trading entities that require traders to pass several levels of evaluation.
Traders can choose from six packages. With the Starter Package, you get $25,000 in instant funding and a 10% profit target. There’s a maximum trailing drawdown of 5% allowed. The Starter Package is ideal for beginners who want to avoid overly aggressive trading. With a $1 million funding size and a 75% profit split, the Master Package is the highest-tier account. A 10% profit target is set, along with a four-percent daily loss limit and a five-percent maximum trailing drawdown allowance. If you have a lot of confidence in your abilities, then this package may be for you.
This prop firm offers a wide variety of tradable securities, including crypto and gold, as well as popular stock indices. It’s possible to access leverage up to 1:10.
A top proprietary trading firm, SurgeTrader requires all of its clients to undergo evaluation. 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.
The 5%ers - best instant deposit prop firm
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.
Behind the Selection Process: Core Competencies
In addition to profitability, prop desks want to see disciplined processes in areas like money management, technical analysis, psychological control and trade journaling. Trading is viewed as a business, so firms seek out operators who treat it as such with formalized practices. Researching a company's preferred skills in advance will prepare you better for their evaluation methodology.
Money management is especially important. Firms will be looking for consistency in traders sticking to sound position sizing rules based on account balance and risk levels. Hard stop losses must be utilized on every trade to limit potential drawdowns. Prop firms do not want to see traders risking more than 2-5% of their account on any single position.
Technical analysis should involve defined trading setups or strategies that can be consistently applied. Traders need to demonstrate an objective methodology for identifying high probability trade entry and exit points rather than subjective decisions. Common approaches analyzed include support/resistance breakdowns, trend continuation patterns, or statistical edge strategies.
Psychological control in the form of discipline and emotional management is another area of focus. Traders are expected to maintain composure during volatile market swings and not let their behavior be driven by fear or greed. They should also be able to walk away from the charts if trading too emotionally.
Thorough trade journaling that records every setup, entry, stop loss, target and notes on performance is a must. This quantitative analysis allows prop firms to verify traders are adhering to their documented strategy as well as track continuously improving their edge.
By researching a prop firm's preferences in these four key areas, applicants can better optimize their application by emphasizing experience and skills directly applicable to the assessment methodology. This targeting approach increases chances of success.
Are international prop trading firms legit in the UK?
International prop firms that follow the order of operation of the funded account process are legit. Prop trading companies in the UK are currently legal and provide traders with a way to access capital and make profits.
These businesses provide funding for these traders' accounts; they do not just hand out cash to anyone who asks for it. Traders must pass a multi-phase assessment process to demonstrate their eligibility for the funded account.
However, it might be a good idea to steer clear of dealing with a fresh, foreign, proprietary Forex trading company. Most businesses do not stay long before they close - maybe a year; this will harm your quest for profit. You can risk trading with this prop firm at your own risk or let other traders make that mistake.
How to withdraw money from a prop trading account?
Even though it might seem appealing to keep earning more money, it is best to take your profits when they are eligible for withdrawal. This will enable you to build up your trading capital alongside the funded accounts. But this decision is up to the trader; after all, traders trading with prop firms are assumed to be professionals.
However, when you want to withdraw money from a prop trading account, follow the steps below:
Verify that the total profit you have accrued equals the withdrawal amount specified in the prop firm account
On the prop firm account dashboard, click on withdrawals
Check the split percentage to find out how much you can withdraw. For example, some top prop trading companies in the UK offer prop traders 70: 30, 80:20, 90:10 split
Enter the desired withdrawal amount. On some Prop trading companies in the UK, you might be required to prepare an invoice for your profit payout and send it to the funded account team. Remember to include your bank information in the invoice
If the withdrawal is authorized, your profit will be credited to your account, and you can take it out using your chosen withdrawal method. You should receive money in your bank account in a week or two
If the bank has inquiries concerning the US dollars coming into your account, you can present the agreement and invoice to them
To recover their funds from the prop firms, traders can use any of the following payment methods:
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Bank Wire
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Wise
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Cryptocurrency (needs Coinbase account)
How to choose a prop trading account in the UK?
Making a specific decision about a Forex prop firm in the UK can be difficult, but if you consider the factors listed below, you will choose wisely. Here are factors to consider when choosing a Forex prop firm in the UK:
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License: Verify the legitimacy of the Forex proprietary trading companies' permissions to trade Forex in the UK. Though the majority of prop firms are unregulated, you can still verify if they are
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Reliability: Check review sites such as Trustpilot or review forums to learn more about the prop firm's reputation
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Trading protocols: Ensure the platform fits your trading style, so you may have to familiarize yourself with its trading protocols and limitations
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Extra services: Check each prop firm's customer service, leverage, daily and total drawdown limits, available markets, and support
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Account fees: Find out how much the prop firm will charge to sign up. If any of the Forex prop firms meet your trading requirements, open an account and pay the subscription fee
Is prop trading in the UK free?
While trading for a Forex prop firm in the UK can be profitable for an experienced trader, there is an enrollment fee. As a result, the consistent response to the query "Is prop trading in the UK free?" is "no”. So Prop trading in the UK comes with a cost because there is a sign-on fee.
Although these fees are usually reimbursed with the initial payout if the trader meets the Verification Process requirements, this is not the case with some firms.
Additionally, while desk fees and software are usually free for day traders, some prop firms might charge for them. In exchange for letting traders use their capital and other resources, these prop trading companies charge a monthly fee. Typically, the monthly cost falls between $100 and $150. Moreover, some prop firms might demand a one-time fee.
Some prop firms claim that the fees are meant to pay for administration, data, and technology costs rather than to turn a profit. Consequently, the monthly platform fee remains the same regardless of the account's size. Therefore, before joining up, traders in the UK must always evaluate the costs and terms of the prop trading companies in the UK.
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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Team that worked on the article
Peter Emmanuel Chijioke is a professional personal finance, Forex, crypto, blockchain, NFT, and Web3 writer and a contributor to the Traders Union website. As a computer science graduate with a robust background in programming, machine learning, and blockchain technology, he possesses a comprehensive understanding of software, technologies, cryptocurrency, and Forex trading.
Having skills in blockchain technology and over 7 years of experience in crafting technical articles on trading, software, and personal finance, he brings a unique blend of theoretical knowledge and practical expertise to the table. His skill set encompasses a diverse range of personal finance technologies and industries, making him a valuable asset to any team or project focused on innovative solutions, personal finance, and investing technologies.
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).