Best Forex Proprietary Trading Companies In Vietnam

Top 5 prop trading accounts

The Trading Pit

Review

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The Trading Pit is a young proprietary (prop) trading firm with favourable conditions of cooperation. It is notable for its patented trading infrastructure, availability of 9 platforms (including МetaТrader 4 and МetaТrader 5), intuitive interface, and absence of supplemental charges. The Trading Pit currently offers over 500 CFDs [contract for (price) differences], and the variety of trading instruments is constantly expanding. The company provides its clients with educational content and mentors, allowing them to quickly hone their skills all the way to the professional level. Traders can connect their accounts at The Trading Pit to their Volume Trader accounts. Enrollment fees are from €99 to €999.

Topstep

Topstep Review

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As a broker, Topstep has always had an outstanding reputation, fantastic trader support, and very generous payouts. As a result of their current promotion, they're one of the best bargains in the industry for Forex trading.

You keep 100% of your first $5,000-$10,000 profit when you first get started (depending on which account you choose). In addition to that, you get 90% of your profits going forward, which is the industry's highest payout ratio.

Furthermore, Topstep has streamlined its two-step evaluation process, known as Trader Combine. The minimum trading requirement in Step 2 has been eliminated, so both steps can be completed in less than two weeks.

To pass the Trader Combine, Topstep gives traders unlimited time to hit their profit targets. No matter how long it takes, just make sure you don't reach your loss limit or trailing maximum drawdown. While you're in the Trader Combine, you'll be charged a monthly fee, but once you're confirmed as a funded trader, those fees will disappear.

Fidelcrest

Fidelcrest Review

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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.

The Funded Trader

Review

The Funded Trader stands out through its diverse challenge options, allowing flexibility in eligibility attainment. It provides traders with the potential to scale up to $1.5 million, reflecting one of the highest account size growth potentials within the industry. The incorporation of a Discord channel fosters a dynamic community of traders exchanging insights. Furthermore, the firm's payout structure entails an 80/20 default split, extendable to a 90/10 arrangement.

Funded Next

Funded Next Review

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Funded Next sets itself apart by offering a 15% profit sharing from challenge phase profits, coupled with a lack of time constraints during challenges. The firm calculates maximum daily drawdown based on balance, ensuring a more dependable approach to monitoring trading performance. Additionally, Funded Next showcases competitive raw spreads and the lowest commissions, maintaining its commitment to favourable prop trading conditions.

Are international prop trading firms legit in Vietnam?

Yes, international prop trading firms are legitimate entities and function as real companies. While they may not be registered directly in Vietnam, they do allow Vietnamese citizens to access and operate funded trading accounts. This practice is not forbidden, and these firms often operate in accordance with the laws and regulations of the countries where they are registered. Vietnamese traders can thus confidently engage with international prop trading firms to explore the benefits and opportunities offered by these organisations. It is essential, however, for individuals to conduct due diligence and ensure they are dealing with reputable and regulated firms to protect their interests in this global market.

How to choose a prop trading account in Vietnam?

Here are five tips for choosing a prop trading account in Vietnam, carefully highlighted by TU experts:

• Regulation and reputation. Research the regulatory status and reputation of the prop trading firm. Ensure it is regulated by a reputable authority and has a track record of fair practices.

• Funding terms. Understand the funding terms, profit-sharing ratios, and withdrawal policies. Look for transparent and favourable terms that align with your financial goals.

• Trading platform. Assess the trading platform's user-friendliness and the tools it offers. A robust platform with technical analysis tools can significantly impact your trading success.

• Risk management. Examine the firm's risk management policies and rules. Clear risk management guidelines are essential to protecting your capital.

• Support and training. Evaluate the level of support, training, and mentorship provided by the firm. A prop trading account that offers educational resources and guidance can be invaluable, especially for beginners.

Do I pay trading taxes in Vietnam?

In Vietnam, individuals engaged in trading activities, including forex trading, are subject to tax obligations. Capital gains from trading are generally considered taxable income. The exact tax rates and regulations can vary depending on factors like trading duration and volume. Typically, short-term gains are subject to higher tax rates than long-term gains. Additionally, keeping thorough records of all trading activities is crucial for accurate tax reporting.

How much can I earn in prop trading?

The earning potential in prop trading can be significant, but it varies widely based on multiple factors. According to data from Zippia, the average salary for a proprietary trader in the United States is approximately $100,000 per year, translating to an average hourly rate of around $48. However, it's essential to understand that actual earnings in prop trading can be influenced by factors such as the trader's skill, experience, the size of the trading account, and market conditions. Traders with a successful track record and the ability to manage risk effectively may earn well above average, while those who are less experienced or encounter market challenges could earn less. Therefore, the potential earnings in prop trading are highly variable.

Is prop trading in Vietnam free?

No, prop trading in Vietnam is not typically free. While traders have the opportunity to attract funds for trading, prop trading firms often charge subscription or evaluation fees to access their programs. These fees can vary from one firm to another. For example, Topstep charges $165 for one month of testing, Fidelcrest starts at €649, and the Funded Trader program begins at $315. These fees are part of the evaluation and training process, and they help cover the costs of providing traders with resources, risk management, and funding for their trading endeavours. It's important for prospective traders to understand these costs and evaluate them in relation to the potential benefits of joining a prop trading program.

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: