Best Funded Trader Programs in Australia
Best Funded Trader Program in Australia is SurgeTrader
Best Funded Trader Programs in Australia:
SurgeTrader - only for professional traders, provides management from 25 000 dollars.
OneUp Trader Funding - risk-free trading, traders receive from 50 to 80% of their earnings.
Earn2Trade - an excellent choice for trading on futures exchanges, profit distribution in the ratio of 80/20% in favor of the trader.
FTMO - provides an opportunity to trade currencies, commodities, stocks, indices and cryptocurrencies, the starting commission is 80% of the profile.
E8 Funding - for motivated traders, partners keep 80% of the net profit.
|
1
|
5.7
/10
|
|
|
|
2
|
5.28
/10
|
|
|
|
3
|
6.68
/10
|
|
Financed programs are gaining popularity among traders from Australia. This is not surprising, because in this case you have an impressive capital at your disposal, which you need to increase. For your labors you get a part of the earned money, and the rest is due to the company. Both parties benefit. Learn more about the most popular funded trader programs in Australia.
-
Are prop trading hard?
Prop trading is a rather difficult way of earning money, as a trader must regularly demonstrate good results, improve performance, improve his strategy, monitor market fluctuations, etc. The trader's emotional background is also affected by the fact that he or she manages the capital of a third party, which may make him or her feel more responsible.
-
Are prop firms legal in Australia?
The activities of prop firms are not restricted in Australia,but traders should keep in mind that companies offering this service are not regulated by the local financial regulator, the Australian Securities and Investments Commission (ASIC). Therefore, it is necessary to be especially careful when choosing a reliable company for cooperation.
-
How to start prop trading in Australia?
To become a funded trader in Australia, you need to thoroughly learn the ins and outs of trading in the financial markets, develop a strategy and hone your skills on a demo account before you start searching for companies offering funded programs. If your application is approved, the firm's managers will offer you a test period consisting of several stages.
-
How much does it cost to start a prop trading firm in Australia?
The cost of starting a prop firm in Australia can range from hundreds of thousands to several million dollars, depending on factors such as regulatory requirements, technology infrastructure, staffing, office space, sales capital, and legal costs, etc.
What is a Funded Trading Program?
With a funded trader program, traders have the opportunity to trade using a prop firm’s money. You and the proprietary firm share the profits you generate in the funded account.
The trading industry is a thriving field where many people are trying to learn more each day, but it's not just about knowing the basics, it's about knowing how to manage your money and being successful.
It’s becoming easier for people to learn trading skills and strategies online and become consistently profitable traders, however, many individuals don’t have very much investment capital to work with so that they can generate substantial amounts of money from their profitable trades.
By offering trader education resources, webinars, and support, good funded trader programs help you get started in trading with more than just trading capital. It's also important to have a trading platform of the highest quality and a partner company that offers funded accounts of the highest quality.
The advantage of funded trader accounts, as opposed to a Personal Forex account, is the reduced risk. Real-time data and a useful platform are available for a small monthly fee. Once you prove you possess the necessary skills, you’re granted access to a funded account. Upon getting funded, you get to keep up to 90% of the profits that you generate from trading.
👍 Pros of funded trading accounts:
• Funded traders have the benefit of being free to use the funds allocated to their accounts as they see fit.
• Funded traders have access to more immediate capital to make larger market moves than unfunded traders.
• As a funded trader, you're somewhat protected since you don't use your own money.
• Obtaining licensure and passing certification programs can be very challenging for new professionals and solo traders. When you become a funded trader, you get the necessary licenses and certifications to start trading immediately.
• Instead of requiring you to work from an office, most funded trading programs allow you to trade from anywhere you have Internet access.
👎 Cons of funded trading accounts:
• Despite nominal freedom of use, funded traders are required to follow certain rules and regulations under the sponsorship of their company. As part of these rules, there are daily loss limits, maximum positions, and other requirements.
• Being a funded trader also takes time, especially if you lack the knowledge or expertise to take a program immediately.
• It’s possible for your profits to be lower than you expected for the first few years when trading with certain trading companies because they impose enormous fees on their funded traders.
Best Funded Trading Programs in Australia
SurgeTrader - for professional traders only
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.
OneUp Trader Funding - receive up to 80% of the funds earned
A decade of experience makes OneUp Trader one of the most reliable prop firms to fund your account. By encouraging the use of different schools of thought in decision-making, this program promotes independence.
In addition to its uniqueness, this platform places a lot of trust in its users. This program provides a softer learning curve than other programs that require traders to meet unrealistic trading targets.
As a OneUp member, you'll feel like part of a big family. When it comes to building your confidence, that’s quite important.
In addition, you can decide how you want to share your profits. There are two profit-sharing options - 50-50 and 80-20.
Moreover, their tiers are quite affordable, especially if you choose the 50-50 arrangement. The 50% profit split arrangement would cost you $95 per month for a $25K account. On the other hand, a $25K account with the 80% option would cost you $125 per month.
Earn2Trade - great choice for trading on futures exchanges
For $150 a month, Earn 2 Trade offers a Gauntless Mini account with $25K. When you choose the $350 a month option, you can get up to $150K.
In the beginning, you might want to settle for the $150 monthly fee option if you are still developing your trading confidence. Within the first month of receiving this, you might aim for $1750 and above according to the mentorship you’ve been provided with.
By doing so, you won't need to spend any additional money to upgrade your account to the $350 a month option.
Additionally, achieving this feat will give you access to proprietary trading partner accounts.
Upon reaching this point, you'll have access to:
-
A beginner crash course that would otherwise cost $249
-
Access to a trading simulator
-
Access to Journalytix
FTMO - provides a wide range of assets
FTMO is a prop trading firm that specializes in Forex trading, and has won several awards in the field. FTMO traders received over $23,000,000 in payouts in 2021 with an average payout processing time of 8 hours.
To qualify for a funded trading account at FTMO, you must complete three steps.
-
Within 30 days, you must reach the defined profit goals of the FTMO Challenge.
-
Once you've successfully completed the FTMO Challenge, you enter the 60-day Verification process.
-
FTMO will offer you an account range of $10,000 to $400,000. This is after you pass the two-step evaluation process with the Challenge and Verification.
-
Traders keep 80% of their profits for withdrawal according to the 80:20 profit split. In addition, for funded accounts with account sizes of $2,000,000 or greater, traders have the option to increase their profit split up to 90:10 with a Scaling Plan.
There are 44 currency pairs and 10 cryptocurrencies you can trade. You can also trade stock CFDs, commodities, and indices.
FTMO excels at currency trading, while Topstep excels at futures trading.
Free versions are available of the three most popular trading platforms, MetaTrader 4, MetaTrader 5 and cTrader.
E8 Funding - partners are entitled to 80% of net income
Founded only in 2021 by CEO Dylan Elchami, E8 Funding is one of the “newest” babies of the big but close-knit circle of proprietary trading firms. It uses MetaTrader4 and 5 as its software, much like many other trading accounts.
Traders in the platform trade commodities, crypto, Forex, and equities. The leverage is up to 1:100, the maximum initial deposit is $300,000 (scalable to $1.0M+) and the account sizes are between $25,000 and $100,000.
E8 has a two-phase evaluation stage, which users need to complete before they start trading. While this may sound like a challenge, the good news is that once you complete the evaluation, you can start trading on the same day!
There are two accounts that the platform offers - the classic E8 and the premium ELEV8. In E8, traders are given requisite funding once they finish the evaluation and they can keep up to 80% of the profits to themselves.
This is not the case in ELEV8 where the traders are given the funds instantly and they can keep up to 90% of the profits to themselves. Additionally, traders with ELEV8 accounts have the advantage of their account size increasing by $100,000 every 30 days when they continually hit their profit targets.
For an entry account, the maximum initial deposit and the profit target (to be completed in 30 days), is $2,000 while the daily floating and closed loss is $1250. These targets, maximum losses, and drawdowns however vary from one account size to another.
Funded Trading Programs in Australia Compared
For a quick overview of the funded trader programs discussed here, we compiled a table highlighting the important points.
| Best for | Trial period | Profit Share | Cost | Markets | |
|---|---|---|---|---|---|
Professional traders |
Based on your plan profit target |
75%-90% |
From $200 to $6,500 |
Futures |
|
Risk-free trading |
14 days |
50% to 80% |
From $95 per month for a $25,000 account to $650 per month for a $250,000 account |
Futures |
|
Professional traders |
15 days |
80% |
Bootcamp: $2,499 The Gauntlet: $429 The Gauntlet Mini: $150, $170, $245, $315, or $350. |
||
Experienced traders |
14 days |
Up to 90% |
$139.50 to $972 |
Forex, indices, commodities, stocks, crypto |
|
motivated traders |
30 days to complete the first phase and 60 days to complete the second phase of the evaluation process |
Up to 90% |
From $228 to $988 depends on account size |
Currency pairs, cryptocurrencies, indices, stocks, energies, and metal SFDs |
How Do I Become a Fully Funded Trader in Australia?
To become a fully funded trader in Australia, you usually need to follow the following steps:
-
Develop your trading skills. Start your journey by gaining structured knowledge about financial markets, trading strategies, technical and fundamental analysis, risk management mechanisms, etc.
-
Choose a program. Once you feel confident in your abilities, start looking for funded programs in Australia. Evaluate the program terms and conditions, the amount of capital provided, how profits are distributed, fees and the support/resources offered.
-
Apply. Often companies will ask you to fill out a questionnaire in which, in addition to personal information, the candidate needs to detail his/her experience and trading goals, income and tax residency data, and other requested nuances. Be honest and do not give yourself nonexistent regalia to increase your chances of success.
-
Undertake an audit. This process most often involves evaluating a trader's trading strategy, risk management techniques, ability to deal with situations requiring quick decisions, and overall approach to the markets.
-
Get funding. If approved, you will have access to trading capital. Trade responsibly, do not forget about risk management, do not deviate from the planned strategy and regularly monitor your progress.
How Much Money Can I Make?
One question that always nags at potential traders is how much money they can make when they set out to become funded traders. The response to this question is complex and dependent on a number of important variables. For instance:
Funding Level
The foundation of the funded trader programs lies in the financing amount provided by the trading firm. These values range widely, from a few thousand dollars to large sums in the six figures. For example, some might provide traders a $25,000 beginning capital, while the most outstanding companies give over $1 million per account.
Profit split
Profits are split between the trader and the trading firm in funded trader programs. The profit split ratio is fixed and specified in the program agreement. Traders typically receive up to 70%-90% of the profits they make.
Trading Strategy
Choosing a suitable trading strategy is also critical. High-risk strategies may create huge short-term rewards, but they also carry a higher risk of loss. Conservative techniques produce more steady, consistent growth over longer time spans. Your strategy must balance risk and reward so that you can profit from multiple deals while avoiding catastrophic losses.
Effective risk management is essential as profits can be greatly increased with a well-defined and properly researched approach. Keep in mind that trading tactics are governed by different regulations and guidelines at different trading firms. Also traders should consider strict rules of most funding programs. Usually, they limit maximum loss to 4-10%.
How to Choose a Funded Trading Program in Australia
To choose a program that matches your skills, goals, and expectations, consider the following criteria:
-
Regulatory compliance: make sure the firm offering the funded program is mentioned on the official ASIC resource.
-
Transparency and reputation: study the history of the company's development, as well as read the reviews of other traders.
-
Program structure: before starting work, you should find out in detail about the principle of profit distribution (first of all, consider firms offering traders from 70% of net profit), how long the trial period lasts and whether it is paid for, what tools and trading platforms the firm provides, whether there are additional fees, etc.
-
Level of support: opt for programs that provide comprehensive training, mentoring and technical assistance.
-
Risk management: ensure that the firm has robust risk management practices in place to protect traders and the firm's capital from excessive losses.
-
Opportunities for development: an excellent choice for long-term cooperation will be a company that allows traders who demonstrate consistently good results to expand the size of their accounts.
Are funded trader programs legit in Australia?
Funded trader programs are legal in Australia. Nevertheless, it is important to scrutinize the company that provides the capital before starting. Research the reputation and track record of the company offering the funded trading program. Look for reviews, testimonials, and any history of regulatory actions. Carefully read and understand the terms and conditions of the funded trading program.
Are Funded Trading Programs Trustworthy?
If you choose the right company to work with, funded trading programs can be very trustworthy. Nonetheless, this is a new business model for this industry. Program quality varies from company to company. It is also possible that some scam their customers just out of greed. Due diligence and proper research are, therefore, highly recommended.
Expert Opinion
Funded accounts seem an attractive option for many traders and are perceived by them as a risk-free path to significant earnings. However, that is not entirely true, and like any path in trading, it cannot be easy and accessible to everyone. To some extent, it can indeed be one of the development options for an experienced trader who has a chance to pass the evaluation phase. For a mid-level trader who has been trading profitably for some time with their small capital, trying copy trading programs as a source of trading signals might be more feasible. This allows for development while continuing to work with a psychologically comfortable amount. For novice traders, participation in prop trading challenges is not recommended due to the high skill requirements for candidates.
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.
Related Articles
Team that worked on the article
Chinmay Soni is a financial analyst with more than 5 years of experience in working with stocks, Forex, derivatives, and other assets. As a founder of a boutique research firm and an active researcher, he covers various industries and fields, providing insights backed by statistical data. He is also an educator in the field of finance and technology.
As an author for Traders Union, he contributes his deep analytical insights on various topics, taking into account various aspects.
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).