Best Forex Funded Accounts for 2024
Best funded trading account - Topstep
Top Funded Trading Accounts in 2024 are:
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Topstep - only $165 per month for a $50,000 account
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Fidelcrest - trading challenge with no minimum trading day requirements
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FTMO - Scaling Plan up to $2.000.000
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Funded Next - best for skilled traders interested in proprietary trading
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The5ers - Novel forex funded programs with instant funding possibility
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Trading capital is a great challenge that can halt Forex traders from utilizing their trading skills and turning them into profits. However, prop firms fulfill the wishes of seasoned traders who lack the capital to trade more significantly. They provide what is known as “funded trading accounts”, which allocate a certain amount for trading to an experienced trader.
This article discusses how to fund your trading account and lists the top five funded trading accounts. But let's start by answering the question: what is a funded trading account?
What is a funded trading account?
A "funded" trading account is for traders who lack the financial capacity required for trading. The prop firm funds this account, allowing traders to profit from the firm's funds. They can generate income without being accountable for any losses, and they can do this without endangering their accounts. Maybe, you also can be interested in information about paying for funded forex accounts.
Furthermore, funded trading safeguards the trader's capital from losses, but it might have a cap. If the trader's drawdown falls below a certain threshold, such as 10%, the prop firm reviews the trader's performance or terminates the contract.
Funded traders can trade bonds, stocks, commodities, derivatives, currencies, and other instruments. But what type of traders can get access to a funded trading account?
What type of traders get access to a funded trading account?
Given that it necessitates such traders to have a firm grasp of trading tools and techniques, this might not be for every Forex trader. Only experienced traders have access to funded trading accounts because proprietary trading firms that offer to support traders are doing so for financial gain.
So while the prop firm makes the trading tools available, the trader uses their expertise to generate profits, which are split between the company and the trader. As a result, maintaining a funded Forex account requires you to have extensive experience trading a variety of instruments. So, becoming a funded trader might be the best option if you have a small account but want to increase your position in the market.
Funded traders have access to a wider range of trading platforms than retail traders, who are limited to what the retail firm offers. So with a funded Forex account, a trader can grow from zero to hero in trading with the support of prop companies. Here are the best-funded trading accounts that every seasoned trader should consider.
The Best Forex Funding Programs 2024
To avoid potential pitfalls and land the best deals for your career and profits, you need to use the best forex funding programs available. Here’s our pick of the top 6 forex trading funded account companies to consider.
1 TopStep
Topstep has the brand strength and reputation that traders rely on as an industry leader and has been named one of the INC 5000 fastest-growing companies in the United States. To engage in their funded account program, every trader begins with the Trading Combine. You can open a real-time virtual futures account with $50,000, $100,000, or $150,000 in purchasing power.
After the Trading Combine, you will receive a funded trading account if you demonstrate consistent profitability and good risk management. Topstep sends funds to your account and allows you to trade in real-time with their capital, without taking any personal risks.
After only eight trading days, traders can earn a funded account. The amount funded is equal to the plan chosen for the Trading Combine. Topstep is also extremely efficient in processing payouts daily, completing payouts requested before 10 a.m. CT the same day.
Costs
Topstep price begins at $165 per month for a $50,000 account. The monthly fee for the $100,000 account is $325, while the monthly fee for the $150,000 account is $375. With the discount offer below, the price might be lowered by 20%. There is also a 14-day free trial available.
How Much Money Can Attract?
Traders can withdraw the first $5,000 in winnings and 90% of gains beyond that amount, which is by far the best offer in the industry to date.
2 Fidelcrest
Fidelcrest traders can use the MetaTrader 4, MetaTrader 5, or cTrader platforms to trade. During the Fidelcrest Trading Challenge and Verification, you can use demo accounts from the following brokers: Fidelcrest Markets, TradeView, IC Markets, XM Markets, Blueberry Markets, Purple Trading, Pepperstone, and RoboForex. One of the cooperating prop firms will handle live accounts.
Costs
Fidelcrest offers four ProFX Normal forex trading accounts ranging in size from $50,000 to $400,000, with one-time assessment fees ranging from $349 to $1,499. ProFX Aggressive accounts, as well as smaller account sizes, are also available.
How Much Money Can You Earn?
During the verification period, the profit share is 40%, followed by 70%-80% after that.
3 FTMO
To qualify for a funded trading account at FTMO, you must go through a rigorous three-step process:
Enter the FTMO Challenge, where you must meet the profit targets within 30 days
Begin the 60-day Verification Procedure, during which you must demonstrate that you can repeat your FTMO Challenge success
After completing the two-step review procedure with the FTMO Challenge and Verification, you will be contacted by FTMO with an offer to trade their capital on accounts ranging from $10,000 to $400,000
One of FTMO’s strengths is the wide range of financial assets available to trade. You can trade 44 currency pairs, plus 10 cryptocurrencies, indices, commodities, and stock CFDs
Three popular forex trading platforms are available to choose from - MetaTrader 4, MetaTrader 5, and cTrader
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 get an 80/20 split on profits.
In addition, there is a Scaling Plan for funded accounts that enables traders to enhance the profit split in their favor, up to 90/10, with account sizes up to $2,000,000.
4 Funded Next
Funded Next provides up to $200,000 with a $4 million scale-up plan. Funded Next offers 2 account types, with 5 plans each, to help users select the best offer for their goal.
Funded Next has two funding models: the challenge in the first funding model is divided into 2 stages and is limited in time, while the second one does not have time restrictions. First, a trader earns 60-80% of profit depending on the account type. The profit split percentage can further be increased to 90%. What’s unique about Funded Next is that a partner of the prop company earns a 15% profit even from the assessment stage (challenge), even despite the assessment taking place on a demo account.
The MetaTrader4 platform is used for trading, and the prop firm also has a proprietary mobile app. Maximum leverage is 1:100.
Costs
The one-time fee charged by Funded Next depends on the plan. The plan determines the funding amount once a trader completes the challenge. For example, the one-time fee for the funding amount of $15,000 is $99. The one-time fee for the maximum funding amount of $200,000 is $999. You are eligible to get back your registration fee once you are a funded trader with FundedNext.
How Much Money Can You Attract?
The profit split percentage ranges from 60% to 90% depending on a partner’s success. Challenges are rather simple. For the evaluation stage, traders use the demo account, with the platform still paying a 15% profit in real money. For funded traders, the limitations are minimal: a minimum of 10 trading days per month, up to 5% daily loss, and up to 10% maximum overall loss.
5 The5ers
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 prop trading firms 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 among the tradeable 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 achieved 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 Make?
The 5%ers offer a 50/50 split on profits.
6 Earn2Trade
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.
How to Get Funded with Earn2Trade7 City Traders Imperium
City Traders Imperium, based in London, was founded in 2018 by Daniel Bautista Martin and Martin Najat. They are a relatively new forex funded program provider.
Traders can employ any trading strategy, and participants have one year to complete the Evaluation Phase. Those who succeed will be at the Portfolio Manager level. For the $10,000 account, tradeable assets are limited to FX pairs and gold, while indices are available on all forex funded accounts with a minimum of $20,000.
Keep in mind that any trade made without a stop loss order will be deemed a violation of the risk management rules.
The City Traders Imperium offers the MetaTrader5 platform for their forex funded accounts.
Costs
The prices are in British pounds. During the review, the available account sizes ranged from $2,500 to $17,500, with one-time payments ranging from £109-£649 (now $150-$893).
How Much Money Can You Attract?
With City Traders Imperium, you get a 50%-70% revenue share.
8 SurgeTrader
SurgeTrader offers a 75% profit split to traders who meet their criteria. It's an excellent prop firm to diversify your investment portfolio with a variety of tradeable assets.
SurgeTrader has a one-step evaluation, unlike many other prop firm trading entities. Traders of all skill levels can choose from six packages. With its Starter Package, you get $25,000 in instant funding and a 10% profit target. There’s a maximum drawdown of 5% allowed. The Starter Package is ideal for beginners who want to trade less aggressively.
With a $1 million funding size and 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 drawdown. If you have a lot of confidence in your trading abilities, this package may be for you.
Additionally, this prop firm offers a wide variety of tradable securities, including crypto, gold, and stock indices. It’s possible to use up to 10:1 leverage.
SurgeTrader requires all of its funded clients to undergo evaluation. You need to pass only one-step audition of SurgeTrader. 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.
How to get funded with Surge TraderFunded Trading Programs Compared
For a quick overview of the forex funded programs discussed here, we compiled the following table highlighting all the important points.
| Best for | Trial period | Profit Share | Cost | Markets | |
|---|---|---|---|---|---|
1. Topstep |
Highest profit shares for traders. |
8 days of success trading. |
90 |
$165 per month for the $50k account; $325 for the 100k account and $375 for the $150k account. |
Futures trading |
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2. Fidelcrest |
Aggressive Forex strategies |
60 calendar days for Verification Period |
40 in the verification phase, 70-80 afterwards |
$349 to $1,499 for trading accounts ranging between $50,000 to $400,000 |
All major forex market assets |
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3. FTMO |
Best forex funded program for currencies. |
30 days of FTMO Challenge, followed by 60 Days for Verification Period |
80 |
The 10k account costs 155 EUR, 25k costs 250 EUR, the 50k 345 EUR, 100k 540 EUR, and 200k 1,080 EUR. |
Currencies |
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4. Funded Next |
Best Funding Model |
Bi-Weekly Payout |
Up to 90% profit sharing |
One Time Fee (Refundable): $99 - $999 (You are eligible to get back your registration fee once you are a funded trader with FundedNext). |
Currencies, Indices, Commodities |
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5. The5ers |
Novel forex funded programs |
6 months |
50 |
%275 o$875 participation fees |
Forex majors and major crossings |
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6. Earn2Trade |
Facilitates multiple trading platforms. |
60 days managing a virtual $25,000 account followed by 30 calendar days of successful trading, and while trading at least once each week. |
80 |
The Gauntlet Mini program comes with 5 different account sizes (25k for $150, 50k for $170, $75k for $245, $100k for $315k and the $150k account for $350 per month). |
Future assets |
|
Best London-based forex funded program |
12 months with a target profit of 7% and maximum loss/drawdown of 5% |
50-70 |
$150-$893 for accounts ranging from $2500 to $17500 |
Forex pairs, gold, and indices |
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8. SurgeTrader |
Biggest funded account up to $1M |
No minimum trading days with only profit target 10% |
Up to 75-90% |
from $200 ($25k account) to $6,500 ($1M account) |
FX, oil, metals, indices, crypto and about 250 of the most popular stocks |
How to choose a funded trading account
While these accounts are great for prop traders, there are factors to consider when choosing a funded trading account. Here are guidelines on how to pick the best-funded trading account.
1. Prop companies' authenticity
The rate at which scammers create quality financial websites is outrageous and calls for total carefulness. So ensure to confirm the legitimacy of any prop firm providing funding for traders. You can read and review the fine print and report on it on rating websites.
2. Profit split ratio or percentage
Before accepting the terms of the prop firm, every prospective trader should review the profit share ratio. Prop companies indicating a profit share ratio of 70% or higher are a great choice.
3. Available trading tools and instruments
Even though access to capital to trade with larger position sizes is the most crucial tool a prop firm can offer you, some also provide other services. Top prop companies provide you with access to sophisticated trading tools and software, so check out the available tools. Ensure the provided technology or software is appropriate for your trading strategy before selecting a funded trader program.
4. Support
Prop companies indeed support traders with funded programs, but that should not be all. A reputable prop supplier will offer webinars, training, and guidelines for some of the necessary documentation.
5. Analyze the characteristics and eligibility conditions
Examine the different drawdown categories and funding requirements for a trader account. Examine the program's costs, trading parameters, withdrawal requirements, withdrawal speed, and if there are any withdrawal restrictions.
6. Scaling opportunities
Ensure the prop firm offers its traders the chance to scale up if they can consistently turn a profit. A system that enables traders to expand the size of their accounts by having access to more capital ought to be in place.
7. Fees
Some prop companies fail to make it clear that there are costs involved when you register for the first time. Even though there is a sign-up fee, find out if there are any other fees or special tax treatment.
Some companies may offer traders attractive rates for their funded trading accounts but charge you for data, educational programs, and licenses for trading platforms. When all of these things are considered, using such prop companies results in higher costs.
8. Monthly income
Check to see if the prop trading firm you choose provides a monthly income, though it's uncommon. This offer, which you can find at most top prop companies, helps the trader focus more on their trading success while their basic needs are covered. Please take note that this could impact the profit-sharing arrangement with the firm.
9. Account Parameters
Check if the prop company offers the following funding options: more extensive maximum drawdown, a bigger weekly drawdown, no time restrictions, larger trading accounts, and immense trade sizes.
How to Get Funded as a Trader?
Getting funded as a trader involves a series of steps that demonstrate your trading skills and risk management capabilities. Here's a more detailed guide on how to get funded:
Step 1: Opening an Account
First, select a reputable funded trading platform and open an account. As a beginner, it's advisable to start with a demo account. This step is crucial as it allows you to practice trading without financial risk. When choosing a platform, consider factors like its credibility, the tools and resources it offers, and the community or support available for new traders.
Step 2: Prove Your Skills
Use the demo account to prove your trading proficiency. This phase is more than just showing profitability; it's about demonstrating a deep understanding of markets, a robust trading strategy, and effective risk management. Some platforms offer specific programs or challenges designed to test your skills. Participating in these can provide concrete evidence of your capabilities.
Step 3: Get Verified
To move forward, you'll need to get verified by the funded trading platform. This verification process often includes assessments of your trading strategy, risk management practices, and overall approach to the markets. Additionally, most platforms require traders to have certain qualifications, such as licenses or completion of specific trading courses or certificate programs. These requirements ensure that only skilled and knowledgeable traders get access to funding.
Step 4: Obtain Funding
Once you've passed the necessary checks and verifications, you can get funded. However, remember that with funding comes responsibility. You'll need to adhere to the platform's rules and regulations, which often include limits on trading positions, stop-loss requirements, and profit-sharing arrangements. It's essential to understand these conditions fully before accepting the funds.
How to Get Funded for Trading Forex?Is a funded Forex account worth it?
Yes, a funded Forex account is worth it for those who do their homework well when selecting a funded trading account. You will have nothing to worry about if you research the funded trading account and profit share rules. Then, with your expertise and ambitious strategies, you can make profits ranging from 5 to 20 percent monthly.
Unlike a personal account, trading using forex funded trading accounts means traders won't have to worry about putting their money at risk as they will have access to all the funding they need.
Remember that profit in a funded trading account is based on your trading efficiency and profit share ratio. Again, you can gain knowledge from seasoned traders and hone your skills while earning a consistent income.
How Much Do Funded Forex Traders Make?Salary Ranges for Prop Traders
Proprietary traders, or prop traders, in the USA have a substantial earning potential, reflective of the high-stakes and skill-intensive nature of the profession. On average, a prop trader earns approximately $210,000 annually, which translates to about $101 per hour. This figure, however, encompasses a wide range of salaries depending on experience and skill levels.
For those just entering the field, the starting salary is typically around $150,000 per year. This entry-level compensation is already quite substantial, demonstrating the value placed on the role even for those with less experience. On the other end of the spectrum, the most experienced and successful prop traders can earn up to $250,000 annually. This upper range is indicative of the high rewards that come with expertise and a proven track record in trading.
How much does a Prop Trading make in USA?
What is a funded trading account’s requirement?
Before you can get access to a funding trading account, there are particular requirements you must meet and maintain to continue trading with the account. Some of the requirements for a funded trading account are listed below.
Documentation
The initial requirement of a funded forex account is to verify a trader's identity. You will be required to present a valid photo ID (such as a driver's license or passport) that hasn't expired more than 14 days ago. A selfie that matches the photo on your submitted photo ID is also required, along with bank and utility statement copies and documentation proving your address is accurate.
Profit target
The prop company establishes a profit target to assess a trader's potential. So you are expected to reach profit targets and metrics without breaking the rules or limits to get or retain a funded forex account.
Max drawdown
For funded accounts, there is a limit known as the "max drawdown." The maximum drawdown is the most money you can lose before having your account suspended. Typically, the limits represent a portion of the funded sum. While a drawdown is a peak-to-trough decline in a trading account over a specific time, it is also a sign of downside risk. And you are expected to ensure that your funded trading accounts do not go below the maximum drawdown.
The equity of the account cannot fall below 90% of the opening balance if the 10% maximum drawdown is permitted. This also holds for open and closed positions before attaining a new peak. The maximum loss, for instance, is capped at $2,000 in the scenario where you have $20,000 invested, and the maximum drawdown is 10%.
Other typical rules
A trader will have a certain risk percentage available before opening any positions, and they must not exceed it. For some prop firms, the total open risk at any given time cannot exceed 3%, and the maximum position risk for any trade cannot be greater than 2% of your account balance.
Again, holding positions over the weekend is not permitted for a funded trading account. Every position is automatically closed every Friday at 7:00 PM GMT/UTC.
Prop traders are expected to keep their accounts profitable, keep their losses to a minimum, practice discipline, and be consistent in trading. As long as you trade consistently and responsibly, there are no strict time constraints or profit targets.
FAQs
How do I choose a funded trading account?
When deciding on the best funding trading account, consider the firm's dependability or legal certification, available leverage, supported platforms, trading resources, and profit share.
Is being a funded trader a good idea?
Yes, especially if you are an experienced trader who is not financially able to fund your trading account. When trading with a funded account, funded traders are not at risk, but since they are not using their own money, they are still subject to the company's rules and regulations and must answer to them. The payment procedures, business procedures, and risk management techniques that are relevant to the account are described in these rules.
Can I become a funded trader?
If you can amass the necessary experience, it might be simple to answer "yes," you can become a funded trader. But you have self-control because you will adhere to the specific guidelines established by their companies. A funded trader must adhere to rules regarding daily loss caps, maximum positions, and more.
In a nutshell, being a funded trader is challenging; to take part in the program, you must possess advanced knowledge and skills.
Are funded trading accounts worth it?
Yes, you have access to the capital you need to trade and the opportunity to learn from more seasoned traders and hone your skills while earning a consistent income. Trading with a funded account is more profitable than trading with your own money.
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.
The topics he covers include trading signals, cryptocurrencies, Forex brokers, stock brokers, expert advisors, binary options. He has also worked on the ratings of brokers and many other materials.
Dr. BJ Johnson’s motto: It always seems impossible until it’s done. You can do it.
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). Mirjan is a cryptocurrency and stock trader. This deep understanding of the finance sector allows her to create informative and engaging content that helps readers easily navigate the complexities of the crypto world.