Best Funded Trader Programs in Turkey

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.

Best Funded Trading Programs in Turkey

Topstep - the best option for trading futures

Topstep Review

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• The first $10,000 in profits you make can be withdrawn in full, and 90% of profits exceeding that amount can be withdrawn.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.

The5ers - Various plans for different needs

The5ers Review

Open an account

Your capital is at risk.

The5ers is a proprietary trading firm that provides three primary funding options: Hyper Growth, High Stakes, and Bootcamp.

The Hyper Growth program is a single-step funding solution that allows traders to receive payouts from their first profit target. As traders achieve each milestone, their account size doubles, offering a rapid scaling opportunity. The fee starts from $260.

High Stakes program presents a 2-step funding model. Participants can scale their account size upon reaching each milestone, with the entry point for this program set at $39.

The Bootcamp program is tailored for traders with a more conservative approach or limited initial capital. In this pay-as-you-succeed model, traders only incur costs upon successfully passing the challenge. Account growth is achieved by hitting milestone targets.

A notable advantage of The5ers' funding programs is the absence of time constraints. Traders can progress at their own pace, without the pressure of strict deadlines. Furthermore, the company provides frequent payouts, enabling traders to realize profits while simultaneously growing their accounts. The trading environment is conducive to various strategies, allowing news trading, algorithmic trading, and offering competitive spreads and commissions.

In addition to the funding programs, The5ers fosters a supportive community of successful traders and provides access to educational resources, webinars, and personalized support. The company embraces a diverse range of trading strategies and styles, ensuring that traders can leverage their unique approaches within the funded environment.

Elite Trader Funding - the best option for remote funding

Review

Open an account

Your capital is at risk.

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.

Try Day Trading - offers one-on-one coaching

Forex trading is the sole focus of Try Day Trading. Unlike other funded trading programs, Try Day Trading doesn’t only allocate cash to you. Upon joining, they'll guide you through a 12-week course.

This course will prepare you for success once you start trading with real money. Getting to know the company's trading culture is also an important factor in success.

Try Day Trading has been around since 2008 and has evolved ever since. Trader Executive, the company's one-to-one training program introduced in 2016, consists of individual training from the company's Lehi, Utah offices.

Following graduation from the training program, students can receive funded accounts worth up to $100,000 and keep 80% of their profits.

Maverick Trading - best choice for active traders

Review

In the world of trading, Maverick is undoubtedly a top company. You can start trading in Maverick even if you are less experienced, as it offers the services of professional advisors and popular robo advisors.

Every business day, Maverick provides webinars and lessons. You can easily improve your skills with the help of lessons and webinars during business hours.

With Maverick, you can trade options, stocks, and Forex. As a new trader, you can count on Maverick's team for support, technology, and training lessons.

When you prove your trustworthiness to Maverick, they invite you to join their team and finance you immediately. Based on the profitability of your work, the amount of instant funding may be increased.

If you consider yourself to be an active trader, don't miss your chance to get instant funding and contribute to Maverick's development.

Maverick traders predominantly use ThinkorSwim during evaluations. However, most of them prefer Interactive Brokers for live accounts. This is because Interactive Brokers has a very user-friendly interface that's easy to navigate.

As part of its evaluation phase, the Forex program also uses Interactive Brokers. Maverick's teaching approach differs greatly from other programs in that it’s more effective and comprehensive. However, it’s also more expensive. Joining the options program will cost you about $7,000 and joining the Forex program will cost you about $4,000.

Rules and Regulation

Regulation

Turkish legislation doesn’t require prop firms to obtain licenses regardless of their country of registration. Prior to opening a virtual account, check whether a prop firm is entered into registries of the country where its head office is located.

Investor protection

The main regulator of Turkey is CMB (the Capital Markets Board). In case of any disputable situation with a prop firm, file your claim with CMB, ESMA (the European Securities and Markets Authority), and supervisory bodies at the place of its registration.

Taxation

The income tax rate ranges from 5% to 25%. A minimum amount not subject to taxation is available.

Funded Trading Programs in Turkey 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 Turkey?

If you want to become a fully funded trader in Turkey, follow these steps:

• Master the basics of trading. It would be strange if companies provided capital to everyone. Therefore, you should get a good theoretical base before becoming a funded trader.

• Practice. Before entering the real market, hone your skills on a demo account.

• Choose a company. Compare what terms of cooperation are offered by different prop firms and make a choice in favor of those companies whose funded programs coincide with your goals.

• Apply. This step may include filling out a questionnaire, in which, in addition to personal information, you should elaborate on your experience and regalia.

• Take an assessment. The test period often consists of several steps and involves trading on a simulated account.

• Get funding. Once a candidate successfully passes the test, he or she will receive an offer from a proprietary firm. The trader will then be able to trade using the real capital provided by the company.

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 Turkey

It is crucial to choose a firm whose offerings fit your trading style and financial goals. Here are some suggestions to assist you in making the correct choice:

• Research reputation. Read reviews and testimonials about the company, and scour press mentions. If negative reviews prevail, it's better not to consider the firm as a partner for long-term cooperation.

• Evaluate the requirements. Analyze the set of requirements that the company puts forward to candidates and make sure that you meet the stated criteria. For example, some firms ask traders for training certificates.

• Familiarize yourself with the terms of cooperation. The main things to check are: the set of available tools and platforms, the amount of leverage, spreads, swaps and commissions, the availability of educational resources, and profit distribution mechanisms.

• Study the risk management policy. A reliable proprietary firm should have clear risk management protocols to minimize potential losses during trading.

Is trading for a prop firm halal?

Trading for a proprietary firm is not inherently haram, but may be if it involves elements prohibited in Islam. Muslim traders wishing to engage in proprietary trading must ensure that they trade in accordance with Shariah law, using swap-free accounts and avoiding margin trading.

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.

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.