12 Best Forex Prop Firms for 2024

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Best prop trading firm for swing trading is Topstep

Your capital is at risk.

Top prop trading firms for swing trading:

  • 1

    Topstep - best for stock index futures trading

  • 2

    The 5%ers - Best for funding options and diverse instruments Instant funding. News trading. Forex, gold & silver, indices

  • 3

    Earn2Trade - Best for educational futures trading Virtual trading simulation. Trader Career Path. Gauntlet Mini. Up to $400,000 funding

  • 4

    Fidelcrest - Best for swing trading flexibility Aggressive accounts for swing trading. No limitations on holding periods

  • 5

    The Funded Trader - Best for instant funding and weekend holding Instant funding. Weekend holding allowed. 90% profit split

Editor’s Warning:

Traders’ funding is an unregulated sphere, enabling companies to make exaggerated promises and embellish reality. In fact, people mostly lose money by paying the fee for the Challenge (testing) and not receiving funding. That’s why I recommend skipping this game, and honing your skills with one of the reliable Forex brokers, leaders of our rating.

Rinat Gismatullin
Author and business expert
Opinions expressed by Traders Union Contributors are their own.

As a chief expert at Traders Union, my primary concern is the interests of our website’s readers, and how to help them preserve capital and prevent loss.

Therefore, before you read this article, in which we looked into the best proprietary trading firms, I would like to warn you about the specifics of working with prop firms that promise funding for traders.

Our research shows that people mostly lose money with these firms, failing to pass the testing stage (challenges). Those who do get the funding are likely to still lose money upon failing to meet certain conditions of the agreement with many hidden clauses. Often, proprietary trading firms make their money not from their share of profits of successful traders, as their websites claim, but from the fees users pay for testing. The funding in itself is essentially nothing more than leverage for you, which licensed brokerages also offer.

This is why I advise against using prop firms, and working with licensed Forex brokers instead. Once you learn to earn stable profit with a real broker, you won’t need to look for a prop firm, because you will be doing well on your own.

Here are several brokerage companies I can recommend:

1
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3
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In a proprietary trading firm, traders are able to trade with a pool of capital rather than their own money, allowing them to maximize their profits.

In most proprietary ("prop") trading firms, the trader receives a share of the profits generated by trades. Prop trading accounts use this arrangement for generating profits, but there are steep challenges that can make it difficult.

In this guide, we’ll go over the top proprietary trading firms in 2023 as well as other pertinent information to consider if you’re looking to start your prop trading journey.

What is Proprietary Trading?

The term proprietary trading refers to a financial firm or commercial bank that invests for direct market gains rather than earning commissions by trading on behalf of clients. This type of trading activity occurs when a financial firm profits from market activity instead of thin-margin commissions obtained from client trading. Among the instruments traded in proprietary trading are stocks, bonds, commodities, currencies, and others.

Among the strategies used by prop traders to maximize returns are merger arbitrage, index arbitrage, macro-trading, and volatility arbitrage. To make critical decisions, proprietary traders have access to sophisticated software and pools of information.

Prop traders have the advantage of being surrounded by experienced traders and having access to more capital. As a prop trader, you also benefit from no-risk accounts. You can learn the ropes of trading and get funded to do so. The disadvantages of prop trading include high fees and competition.

Prop Trading Accounts Compared

Initial Balance Profit Share Cost Markets Maximum Loss

TopStep

Starting at $50k

50%

Starting at $165/month

Forex

N/A

The 5%ers

Starting at $6k

Up to 90%

Starting at €235

Forex, gold, silver, indices

5% of initial balance

Earn2Trade

$25k

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, Forex

N/A

SurgeTrader

Starting at $25k

Up to 90%

Audition fee: $2500 to $6.5k

Forex, select equities, major stock market indices, oil, metals and cryptocurrencies

5% of initial account balance

FTMO

Starting at $10k

80%

The 10k account costs 155 EUR, 25k costs 250 EUR, the 50k 345 EUR, 100k 540 EUR, and 200k 1,080 EUR.

Forex

5% of initial account balance

City Traders Imperium

Starting at $2.5k

Up to 50%

$499 to $2.45k one-time registration fees

Forex

5% of initial account balance

Fidelcrest

Starting at $25k

80%

$104 to $2848

Forex, indices, commodities, stocks, and more

10% of initial account balance

LuxTradingFirm

Starting at $5k

Up to 75%

£329 to £549

Forex, indices, commodities, and stocks

Starting at $600

FundedNext

$15k

Up to 90%

$99 to $999

Forex

10% of initial account balance

The Funded Trader

Starting at $50k

Up to 90%

$315 to $1.89k

Forex

12% of initial account balance

Audacity Capital

Starting at $15k

Up to 50%

£199 registration fee, and £99 monthly platform fee

Forex

10% of initial account balance

Best Prop Trading Accounts 2024

1 Topstep

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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 $150K, $200K, or $300K 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 $5,000 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.

2 The 5%ers

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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 apps 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 tradable 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 archived 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 Attract?

The 5%ers offer a 50/50 split on profits.

3 Earn2Trade

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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.

4 SurgeTrader

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SurgeTrader offers 75% profit splits to funded traders who meet their trading criteria. It's the perfect prop firm to diversify your investment portfolio with a variety of tradeable assets.

SurgeTrader has only one phase of 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 trailing drawdown of 5%. The Starter Package is ideal for beginners who want to avoid aggressive accounts.

With a $1 million funding size and 75% profit split, the Master Package is the highest-tier account. A 10% target is set, along with a four-percent daily loss limit and a five-percent maximum trailing drawdown. If you have a lot of confidence in your abilities, this package may be for you.

Additionally, this prop firm offers a wide variety of tradable securities, including crypto and gold, as well as popular stock indices. It’s possible to leverage up to 1:10.

A top proprietary trading firm, SurgeTrader requires all of its clients to undergo evaluations. 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.

5 FTMO

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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.

A great fact to note is that FTMO’s stronghold is its currencies. This is the best place to consider a forex funded account, if you enjoy trading currencies. You can trade 44 currency pairs as well as 10 cryptocurrencies. Furthermore, cash indices, commodities, and stock CFDs are available for trading.

The free versions of the three most popular forex trading platforms, MetaTrader 4, MetaTrader 5, and cTrader, are accessible.

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 an 80/20 split on profits. Whatever the profit a trader earns on the capital given, they will receive 80% of it.

In addition to that, there is a Scaling Plan for funded accounts that allows traders to enhance the Profit Split in their favor up to 90:10 with account sizes up to $2,000,000.

6 E8 Funding

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E8 Funding is a renowned proprietary trading firm, recognized for its versatile platform and attractive profit-sharing model. With flexible account options and a diverse range of trading instruments, traders can align their account size with their goals and explore various markets.

The firm stands out by eliminating monthly fees and adopting a transparent fee structure, ensuring cost-effective trading. Advanced features like weekend trading, advisors, and copy trading, along with the popular MetaTrader platforms, enhance the trading experience. Traders benefit from an 80% profit share and the opportunity to progress through challenges, fostering risk management and discipline.

Costs

E8 Funding requires a minimum initial cost of $138 to join their platform. The charge varies depending on the type of account.

How Much Money Can You Attract?

At E8 Funding, traders enjoy a favorable profit-sharing structure, with 80% of profits retained. Such a favorable profit-sharing arrangement sets E8 Funding apart and enhances its appeal among traders.

7 City Traders Imperium

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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 that succeed will remain at the Portfolio Manager level. For the $10,000 account, tradable 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 deal concluded 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 will get a 50%-70% revenue share. Maximize your profits to obtain your target earnings.

8 Fidelcrest

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Fidelcrest offers 13 accounts to suit different types of traders, providing access to more than 1,000 financial instruments. Known for its robust training programs and exceptional support services, the prop firm offers profit splits of up to 90%.

There are two main accounts available at Fidelcrest, Micro Trader and Pro Trader, both of which offer Normal and Aggressive settings. Each risk type is funded at three different levels.

Depending on the risk type, the Micro account has funding between $25,000 and $50,000. A difference between the two lies in the profit targets, the minimum number of trading days, and the maximum loss limits. Micro Trader, for example, has a maximum overall loss limit of 10% and a profit target of 5%. There is a maximum loss of 20% with Aggressive risk, and a maximum profit target of 15%.

Currently, ProTrader accounts are funded between $150,000 and $1 million, of which $1 million is only available for Normal Risk accounts. Both accounts can be leveraged up to 1:100.

Each account type is evaluated in two steps, depending on the minimum number of trading days, maximum daily loss limit, and maximum overall loss limit. The KYC program at Fidelcrest requires that you submit documents in addition to meeting the trading parameters.

The fees for different types of accounts and risk levels vary. It costs between $104 and $474 to open a Micro Normal risk account. The prices for Micro Aggressive accounts range from $157 to $579, while those for ProTrader accounts range from $685 to $2,848

9 LuxTradingFirm

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Your capital is at risk.

Lux Trading is the perfect choice for beginners who want to spend their time hitting their evaluation goals as much as possible. You can trade up to $150,000 with no recurring monthly fees and no profit limits.

On top of forex, this company offers trading in stocks, bonds, and CFDs. When you open a demo account and try to meet profit targets, you can choose between three capital levels.

You can move to higher capital levels with this prop firm's Professional accounts after meeting a 10% profit target in 49 trading days. Your max drawdown limit is 4%, which is reset every month if you withdraw profits. In all stages, profit splits remain at 65%.

The size of your account doubles when you meet those parameters until it reaches $1 million. As a result of this scale-up mechanism, Lux Trading stands out from the competition. The leverage is 1:10 for forex pairs and metals, 1:5 for indices, bonds, and commodities, and 1:1 for equity. Lux Trading allows weekend and overnight holdings, unlike other firms.

In addition to offering superb proprietary trading accounts for beginners, Lux Trading allows you to take as long as you like to reach your evaluation profit target of 6% and avoid a drawdown of more than 4%. You can move on to step two when you earn back your initial fee within 29 trading days and begin using real capital. The parameters remain the same, but 65% of the profits are yours to keep.

Lux Trading accounts range from £299 ($375) to £499 ($626). Wire transfers, bitcoin withdrawals, and Wise withdrawals are all available as withdrawal methods.

10 FundedNext

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Your capital is at risk.

Bangladesh-based FundedNext offers individual funding up to $200,000, backed by a solid risk management strategy.

The platform offers up to $4 million in trading capital to consistent and profitable traders, with the option to use any type of trading strategy and to split profits up to 90%.

By providing funds to traders, FundedNext aims to maximize the opportunity for traders to unlock their true potential.

For funding, a trader needs to subscribe to the platform ($99-$990 subscription fee, depending on account size and funding model) and get evaluated. This test takes the trader to a simulation of the trading world, where everything but the money is real. Following the rules and ensuring profitable trading are the key tasks.

It is only after beginner traders have proved their skills that they become eligible for real funding. A surprising number of traders fail to qualify for funding, on average, only one out of 10.

FundedNext offers two funding models: Evaluation and Express. Traders can earn up to 90% profit split based on their performance, but trading must be done within a fixed timeframe.

While the express model offers traders more time flexibility, it reduces their profit share to 60%.

11 The Funded Trader

With The Funded Trader Program, you get access to industry-leading prop firms like no other prop firm. There is no regulation of your trading style with the FTP. They also allow traders to trade overnight, during news, and on weekends. Traders can choose from two funding options offered by the prop firm.

There are two types of challenge accounts: Standard Challenge Accounts and Specialist Challenge Accounts. Once the two-phase evaluation period is over, traders are rewarded for their consistent performance. Traders can trade using a leverage of 1:200 on the evaluation program account.

The Rapid Challenge Accounts also identify serious traders and reward them for their consistency during the two-phase evaluation process. Only here, traders are allowed to trade with 1:100 leverage. The Funded Trading Program is one of the best prop trading firms because of this, as well as relaxed trading rules. Profits are split up to 90%.

12 Audacity Capital

Open an account
Your capital is at risk.

Audacity Capital provides professional forex traders with additional trading tools as well as funding. In London, traders are invited for a face-to-face interview after applying for positions, providing their trading experience and strategies. The next step is to earn money from trading once the approval has been granted.

Depending on your needs, you can choose either Hidden Talents or Funded Trader Program. When a trader reaches a profit target of 10%, their accounts get upgraded step-by-step. Instead of retail brokers, the company uses institutional liquidity providers. The profit split is up to 50%

Are prop firms a pyramid or trusted companies?

How Much Money Can I Make?

After passing the challenge, a prop trader gains control over a real sum of money. The partnership terms between the prop trader and the prop trading company specify the following points:

Initial and maximum sums under management. The maximum sum can vary, with some companies allowing it to reach up to $4 million (more commonly up to $1-2 million). However, the trader does not receive this sum immediately but gradually as they work and demonstrate their performance;

The percentage of profits received by the trader. The profit split can go up to 75-90%. This means the trader can earn up to 75-90% of the sum they make.

Traders are not held responsible for losses as long as they stay within the risk management rules set by the company.

How to Choose a Prop Trading Account

When looking for the best prop trading account, you should consider the following factors:

Reputation: A firm's reputation is the first thing to look for when starting prop trading. Make sure the company is regarded as reliable within the industry and has a history of profitability. Check out what other traders have to say about the firm. Some firms have a few traders, while others have thousands. You should also check Trustpilot's score for the firm.

Available Assets: Among the assets you can trade at prop firms are stocks, futures, and forex. Having this flexibility allows you to find the right market to trade in and enhance your trading skills. Many of these companies are forex prop firms, but others allow crypto and metal trading as well.

Fees: Before signing up, you should understand a prop firm's fee structure. A firm's fees can vary significantly from one to another, so you should choose one that fits your budget. In most cases, you must pay a one-time fee for an evaluation procedure. It is common for firms to refund that payment if a trader chooses to withdraw from the firm.

Trading Platform and Trading Style: It’s important to ensure that a prop firm has a good trading platform that meets your needs. Some firms allow you to trade on the MT4, MT5, and cTrader platforms. Trading approaches vary between firms. The focus of some trading prop firms is on technical analysis, whereas others emphasize fundamental analysis. Your trading style should be aligned with the approach of the firm you choose.

Customer support: A firm that offers good customer support can answer all your questions about your account, the markets, and trading strategies. Furthermore, they can assist you with any software or account issues you may encounter.

How Forex Proprietary Trading Works

Proprietary trading works as follows:

1

A prop trading firm offers traders a two-stage challenge before letting them work with real assets. Traders must demonstrate their professionalism, with the task of increasing the deposit by a fixed percentage by the end of the first stage of the challenge (each company has its own percentage). Traders face strict limitations, including a maximum drawdown per day, an overall maximum drawdown, a ban on trading with advisors, news-based trading, and so on. Specific conditions may vary depending on the company;

2

Traders pay the challenge fee, and trading is conducted on a virtual account. If a trader breaches the limitations set by the prop trading company, the account is automatically closed, and the challenge is considered failed. Traders can begin the challenge again after making a new payment, and there is no limit to the number of attempts. The second stage is similar to the first but has stricter conditions;

3

Upon successfully completing the challenge, traders are given control of real funds. Risk management requirements remain in place.

5 tips for beginners in prop trading

Embarking on a career in proprietary trading can be both exhilarating and challenging for beginners. Here are five essential tips that can help you build a strong foundation.

Understand Risk Management

Risk management lies at the core of successful prop trading. As a beginner, it is critical to gain a thorough awareness of risk and to put effective risk management methods in place. These methods involve setting realistic risk limits, using stop-loss orders to protect capital, and diversifying your trading portfolio.

Education and Skill Development

Continuous learning and skill development are vital for prop traders, particularly for beginners. Invest time in acquiring a solid foundation of knowledge about financial markets, trading strategies, and technical analysis. Continuously improving your knowledge and improving your skills can help you make more informed trading judgments.

Keep Emotions in Check

Emotions can be the downfall of many traders, especially beginners. It is critical to control emotions such as fear and impatience. Develop a disciplined trading plan and stick to it, regardless of short-term market fluctuations. Maintaining a calm and rational mindset will help you make objective trading decisions and mitigate unnecessary risks.

Develop a Trading Strategy

A well-defined trading strategy is crucial for success in prop trading. Identify your preferred trading style and develop a strategy that aligns with your goals and risk tolerance. Backtest your strategy using historical data to evaluate its effectiveness. Regularly review and refine your strategy to adapt to changing market conditions and enhance your performance.

Maintain Discipline and Patience

Discipline and patience are key virtues for prop traders. Stick to your trading plan and avoid chasing after quick profits or succumbing to impulsive trades. Markets can be unpredictable, and losses are an inherent part of trading. Maintain a long-term perspective and have faith in your strategy.

Are Forex Prop Trading Firms Trustworthy?

Yes, but there's no 100% guarantee of reliability. In theory, prop trading firms have no incentive to engage in fraud. The cost of the challenge is not a sum worth risking their brand reputation and relationships with associated brokers. On the contrary, prop trading firms are interested in finding professional traders who will make money for them, and this potential income is hundreds of times greater than the challenge fee. The challenge fee is payment for organizing the trading process.

However, there are exceptions. For example, in 2023, the U.S. regulator CFTC uncovered a fraud by My Forex Funds. This prop firm supposedly operated according to the classic prop trading model, but in reality, it acted as a counterparty to traders' deals, hindering their profits and thereby forcing them to pay for the challenge again.

Prop trading companies do not provide financial services, and trading occurs on a demo account. Hence, they do not require regulatory licenses. A trader only works with real money after passing the challenge, and this is done not with the prop trading company but with a regulated broker. Therefore, fraud is possible, which is why it's crucial to work only with prop platforms that have already proven their reliability.

Expert Opinion

The main attraction of prop trading is that it provides access to a large amount of trading capital. Having more trading capital gives you the opportunity to generate greater profits. A 10% profit generated with $50,000 of trading capital is a lot more money than a 10% profit on $5,000.

Checking the reputation of a prop trading firm is an absolute must. There have been issues of fraud and dishonest practices with some companies offering prop trading.

I think the second most important feature of a prop trading program is whatever fees you have to pay in order to earn your way to being a funded trader. The costs of a program should be evaluated in respect to the amount of funding that you can receive once you qualify. It may be worth paying higher fees for a program that offers substantially more trading capital to their prop traders.

Market access – what financial assets you have the ability to trade – is a third key consideration. Obviously, you only want to sign up with a prop trading firm that gives you the ability to trade what you want to trade.

Johnathan Maverick

Johnathan Maverick

Financial Markets Expert

FAQs

Is proprietary trading legal?

Yes, prop trading is completely legal.

How do prop trading firms work?

The process of identifying profitable trading opportunities involves analyzing massive amounts of data with sophisticated computer algorithms. In order to earn a profit, firms trade these opportunities using their capital. Many companies are also market makers, which means they buy and sell securities to provide liquidity to the market. As a result, the markets function smoothly and efficiently.

Do prop traders make money?

Yes, it’s possible for proprietary traders to make money. The process isn't always straightforward, however. Prop trading requires consideration of a number of factors. A key aspect to keep in mind is risk management. To avoid large losses, prop traders must not take on too much risk. Furthermore, prop traders must be able to read the market and make informed decisions when it comes to placing their bets.

Is proprietary trading risky?

Trading in financial instruments or commodities is by definition a form of classical proprietary trading. As a result, an investor is normally exposed to market risk, which is the risk that market prices of financial instruments or commodities may change and result in a loss.

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.

Team that worked on the article

Chinmay Soni
Contributor

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
Dr. BJ Johnson
Developmental English Editor

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.

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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.