Best Funded Trader Programs in the UK

Best Funded Trading Programs in the UK

SurgeTrader - the largest selection of tradable assets

SurgeTrader Review

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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.

Topstep is a great option for futures trading

Topstep Review

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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 $50K, $100K, or $150K 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 $10,000 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.

FTMO - profit distribution in the ratio of 90/10% in favor of the trader

FTMO Review

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Your capital is at risk.

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.

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.

Elite Trader Funding is the best option for remote funding

With Elite Trader Funding's EOD program, you get the best value in futures evaluations with end-of-day drawdown. One-step evaluations with single overall trailing drawdown are a lower-cost option for traders looking to avoid daily drawdown limitations of EOD drawdown programs.

If you are an aggressive trader looking to use Elite Trader Funding programs, you can sign up for Elite Trader Funding Fast Track evaluations where you can receive up to $6,500 in drawdown allowance for just $150. You’ll also receive $160 of Free Data once you’re qualified for live funding.

A $25K Mini Track Evaluation starts at $45 and must be completed within a maximum of 14 calendar days and a minimum of 10 trading days (not much wiggle room). This option requires you to be a seasoned trader with a high level of confidence and expertise in day trading futures.

Also worth noting are the Free Data Specials on the $100K and $250K evaluations and the resets on the EOD and 1step, but not on fast tracks. As a fourth type of evaluation, Elite offers Static Drawdown Evaluations, which are exactly what their name suggests. Evaluations of this type have a maximum loss and no trailing drawdown. It’s also important to note that the minimum allowed balance doesn’t change over time.

Earn2Trade is the best choice for professional traders

Earn2Trade Review

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Your capital is at risk.

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.

Rules and Regulation

Regulation

Operation of prop firms in the UK doesn’t require licenses, since traders complete challenges on demo accounts and then choose either copying signals from demo accounts or trading with partnering brokers. Brokers that partner with prop firms must be licensed by the FCA (the Financial Conduct Authority). Additionally, all prop firms operating in the UK must be registered with the Companies House.

Investor protection

Taxation

Tax brackets in the UK offer flexibility and the potential for optimization, especially if the prop firm utilizes a spread-betting model. Capital gains differentiation also applies. Overall, taxes can exceed 20%.

Funded Trading Programs in the UK Compared

For a quick overview of the funded trader programs discussed here, we compiled a table highlighting the important points.

How Do I Become a Fully Funded Trader in the UK?

To become a fully funded trader in the UK, you should first learn the necessary groundwork, practice on a demo account to perfect your trading strategy and skills without real money at stake, and then take the next steps:

• Check out the list of companies that offer funded programs for traders.

• Submit a bid by providing your trading history, performance metrics and any other requested information.

• Next, if your candidacy is approved, you need to go through an evaluation process, which may involve trading on a simulated account for a certain period of time.

• Once you have secured funding, you will need to stick to the goals set by your firm. Follow your trading plan and don't take on too much risk early on.

What Is The Logic Behind Prop Trading?

An excellent question we ask today is - what is the logic behind prop trading? Why would a firm offer traders their funds to trade on? It’s simple. The idea behind it is to generate profits for the trading firm by taking advantage of market opportunities and utilizing the skills and expertise of the firm's traders.

Here are some key points that explain it further:

Profit generation

Prop trading firms aim to maximize their profits by using one tool in their arsenal - understanding the traders’ thinking. Because the users are not using their own funds to trade, they are more likely to take more risks, which helps the firms gain insight into their reasoning and leverage that to gain maximum profits.

Research and development

By allowing users to take more risk in their trading, prop firms are able to gather information on how users make trading decisions, what they are more likely to invest in, and even the most preferable trading hours. This research can be then used to further develop the tools of the account.

Talent attraction and retention

The idea of providing traders with funds to trade on such that they don’t have to dig into their pockets attracts multiple untapped talents in the industry. Once they gain the profits, these talents have the potential of turning into repeat users for the account.

Maintain all gains

Because everything is traded on the firm’s account, the firm gets to maintain all the gains and maximise their profits from the trades.

Have an edge over competitors

Firms engaged in proprietary trading have an edge over their competitors in terms of the insightful information they gather from their users which they leverage to maximise their profits, retain the customers and develop their accounts.

How to Choose a Funded Trading Program in the UK

Choosing a funded program in the UK requires careful consideration of several factors to make sure it fits your trade objectives, preferences and level of experience. Here is a comprehensive guide to assist you in making a well-informed decision:

• Explore different programs: look for reputable firms with successful track records, licenses and positive trader reviews.

• Familiarize yourself with the requirements: each company sets its own selection criteria, so familiarize yourself with the requirements beforehand to see if your candidacy matches the firm's needs.

• Consider the financing structure: review the profit-sharing scheme, and ask the company for more information on program-related fees and expenses.

• Evaluate the level of support: choose companies that offer comprehensive training, mentoring and ongoing support.

• Familiarize yourself with the terms and conditions: you need to understand how the firm's offerings fit your trading style, so take a detailed look at the amount of funding, available assets and trading platforms, daily and total drawdown limits, withdrawal policy, etc.

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.