Best Funded Trader Programs in Spain
Best Funded Trader Program in Spain - FTMO
Best Funded Trader Programs in Spain:
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FTMO - great option for experienced traders, with a starting reward of 80%
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Earn2Trade - funding can be up to $200,000 and traders are entitled to 80% of the net profit
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SurgeTrader - offers capital from $25,000 and trader's profit can be 75-90%
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OneUp Trader Funding - provides a choice of five plans, partners keep 90-100% of the profits earned
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The5ers - suitable for traders using MT5 platform, the company offers 50/50 profit sharing
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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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Funded programs are a great opportunity for traders from Spain. They allow them to generate income while improving their trading skills without risking their own funds. Companies that provide capital for trading also benefit from this model, as they can significantly increase their profits compared to traditional brokerage, where income is usually limited to commissions.
In this article, we will give you an overview of the best funded programs for traders in Spain, comparing them on various parameters, including the length of the trial period and the principles of profit sharing.
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Is prop trading legal in Spain?
The activity of proprietary firms is not legally prohibited in Spain. But they must comply with the rules established by the Spanish National Commission for the Stock Market (CNMV), as the lack of centralized control by public law institutions increases the risk of losing funds in case of unfair practices.
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How to start prop trading in Spain?
To become a prop trader, you need to choose a company that provides funding, apply for a competitive selection process, and pass the skills assessment stage. Only after successfully completing all these steps will you get access to capital.
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How much does the average funded trader make in Spain?
The earnings of funded traders in Spain vary widely and are directly related to experience, strategy and market conditions, with the average income not being fixed.
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What is the best funded program in Spain?
FTMO is considered to be the best funded program in Spain. At the first stage of cooperation, traders receive 80% of net profit, further, provided they reach the scaling plan, they can count on 90%. Among the instruments available are currency pairs, stocks, stock indices, commodities, and cryptocurrencies. The company operates in full compliance with European financial legislation.
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
• 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
• 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 Spain
FTMO - great option for experienced traders
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.
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Within 30 days, you must reach the defined profit goals of the FTMO Challenge.
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Once you've successfully completed the FTMO Challenge, you enter the 60-day Verification process.
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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.
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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.
In order to participate in the FTMO Challenge, traders must pay a one-time fee. USD, GBP, EUR, CZK, CAD, AUD and CHF can be used to fund the account, but only Euro can be used to pay the challenge fee. For the $10k account, the participation fee starts at 155 EUR. For the $25k account, the cost is 250 EUR, for the $50k account, 345 EUR, for the $100k account, 540 EUR, and for the $200k account, 1,080 EUR.
Earn2Trade - funding can be up to $200,000
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:
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A beginner crash course that would otherwise cost $249
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Access to a trading simulator
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Access to Journalytix
SurgeTrader - offers capital from $25,000
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 - partners keep 90-100% of earned profits
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.
The5ers - offers 50/50 profit sharing
In comparison to the other programs mentioned in this list, The5ers take an entirely different approach. The5ers fund each funded trading account with real money, so subscribers can trade with it.
Traded securities include all Forex majors, such as EUR/USD, USD/CHF, and major cross pairs, such as AUD/CAD and GBP/JPY. The Level 1 Program requires every trader to achieve a profit target between 10% and 25%.
Upon reaching the profit target by trading according to the rules, the Level 1 Program will be closed. As a Portfolio Manager Partner, you will receive profits according to the profit split, and a new trading account will be opened for you on the next funding level.
A key difference between this trading account and the others is its ease of use. 50:50 profits are split between The5ers and their members. Accordingly, the trader keeps half of the profit.
Each of the programs is hosted on the MetaTrader 5 trading platform. The participation fee ranges from $275 to $875.
Rules and Regulation
Regulation
Spanish legislation doesn’t require separate licensing of prop firms, thus residents of this country can open accounts with local and foreign firms. However, partner brokers are obliged to have licenses to provide financial services. These licenses can be issued by CySEC (the Cyprus Securities and Exchange Commission) or other regulators that work with Spanish residents.
Investor protection
CNMV (the National Securities Market Commission) protects investor rights in Spain. Also traders can apply to European financial supervisory authorities, such as ESMA (the European Securities and Markets Authority). When working with brokers that partner with prop firms, traders can file complaints with regulators that supervise those. Also, it is possible to address an ombudsman or self-regulated organizations, if prop firms or brokers are their members.
Taxation
The progressive income tax rate when trading on a live account ranges from 19% to 26% subject to income. Separate tax rates may apply to cryptocurrency profits, as regulated by legislation specific to the status of digital assets.
Funded Trading Programs in Spain 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 | |
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Experienced traders |
14 days |
Up to 90% |
$139.50 to $972 |
Forex, indices, commodities, stocks, crypto |
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Professional traders |
15 days |
80% |
Bootcamp: $2,499 The Gauntlet: $429 The Gauntlet Mini: $150, $170, $245, $315, or $350. |
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Professional traders |
Based on your plan profit target |
75%-90% |
From $200 to $6,500 |
Futures |
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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 |
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Traders using MT5 p latform |
None |
50% |
$275 to $875. |
Forex, metals, and indices |
How Do I Become a Fully Funded Trader in Spain?
To become a fully funded trader in Spain usually requires a combination of knowledge, experience and personal qualities such as discipline and patience.
Here's a general action plan you can follow to achieve success:
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Educate yourself. You should have a good understanding of how financial markets work, as well as trading strategies, risk management techniques and other important nuances.
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Develop a trading strategy and improve it by trading on a training account.
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Build a track record. Start trading with your own capital to achieve stable profitability. This will demonstrate your trading skills and become a decisive argument for companies willing to provide traders with financing.
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Select a few programs and apply for competitive selections.
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Be prepared to go through a test period, which often consists of several stages.
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If all goes well, you may be able to access the company's money. However, remember to be responsible with your capital: follow the rules and regulations set by the company, avoid excessive risks and stick to a clearly defined trading plan.
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Continuous improvement. Even if you have received funding, this is no reason to rest on your laurels. Stay abreast of market trends, trading techniques and risk management methods. Constantly refine your trading strategy based on market conditions and your performance.
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 Spain
Here are some tips to help you choose the right funded program for you:
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Read the reviews. To be sure of the reliability of the firm, start by looking at reviews on independent forums. If the company has a flurry of negative comments on its record, the best solution is not to consider it as a partner.
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Consider the fee and commission structure. Prop trading firms usually charge a fee for access to their trading platforms and services.This can be either a monthly subscription fee or a training fee. Compare the fees of different companies to choose the most favorable option for you.
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Evaluate the profit sharing scheme. This stands as one of the most critical points. Most often firms offer profit distribution in the ratio of 70/30% or 80/20% in favor of the trader.
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Familiarize yourself with the tools available. Ask about the range of instruments the company provides. It may specialize exclusively in futures trading, which may not suit your preferences. Also pay attention to the trading platform offered. It should be reliable and compatible with your computer or mobile device.
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Examine the level of support and training. Choose a firm that offers comprehensive training resources, including online tutorials, webinars, and individualized support.
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:
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Trader Testimonials and Reviews. Collecting and analyzing feedback from existing and past traders to understand their experiences with the firm.
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Trading instruments. Companies are evaluated on the range of assets offered, as well as the breadth and depth of available markets.
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Challenges and Evaluation Process. Analyzing the firm's challenge system, account types, evaluation criteria, and the process for granting funding.
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Profit Split. Reviewing the profit split structure and terms, scaling plans, and how the firm handles profit distributions.
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Trading Conditions. Examining leverage, execution speeds, commissions, and other trading costs associated with the firm.
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Platform and Technology. Assessing the firm's proprietary trading platform or third-party platforms it supports, including ease of use, functionality, and stability.
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Education and Support. Quality and availability of training materials, webinars, and one-on-one coaching.
Team that worked on the article
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).