Best Forex Proprietary Trading Companies in Poland
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If you're too busy to read the entire article and want a quick answer, the best Forex prop trading firm in Poland is Hola Prime. Why? Here are its key advantages:
- Is legit in your country (Identified as United States
) - Has a good user satisfaction score
- Performance-based scaling
- Professional trading environment
Top Forex prop trading firms in Poland:
FTMO - 44 supported currency pairs
Topstep - Best funding conditions overall
Funded Next - Best in terms of the price points
Traddoo - loyal trading conditions
FTUK - trading terms suitable for high-risk trading
Prop trading firms are a great way to give traders access to a decently funded account size to trade. Due to the expansion of remote work, the majority of trader positions at prop firms can now be performed online. But not every prop company accepts traders from around the world.
Finding a prop trading company or platform that offers your preferred assets or tradable instruments on terms that work for you can be very challenging, especially if you reside in Poland. Therefore, in this article, TradersUnion experts have put together an easy-to-read but comprehensive comparison of the top forex prop firms in Poland for you.
Is Forex prop trading a good idea in Poland?
Prop trading offers several advantages that make it an appealing career option for aspiring traders. In Poland, Forex trading is a good idea because it can offer significant advantages for Polish traders looking to enter the financial markets.
However, there are drawbacks to this, and TU experts have specifically highlighted the following pros and cons to keep in mind:
- Pros
- Cons
- Prop traders have access to substantial trading capital from the company, which may result in higher profits than trading with their own modest accounts
- Starting to trade is less risky because traders are not risking their own money aside from evaluation or entry fees
- Prop firms have safeguards in place to reduce potential losses and stop traders from losing more than 5% of their capital in a single day. Additionally, if these limits are reached, the funded account will be removed. The maximum overall loss is around 15%
- Withdrawals can be made on a regular basis. It could be weekly, making it easier to withdraw money and trade more easily
- Prop traders have access to a variety of global financial markets, including stocks, Forex, gold, oil, cryptocurrencies, and indices
- Trading strategies are restricted because of strict trading regulations at prop firms, which could limit traders' trading options
- The majority of prop trading firms have extremely strict rules, making it very challenging for traders to qualify for funding. Failure to follow the rules of the prop firm could lead to evaluation failure or funding loss, both of which would necessitate paying subscription fees again
- The prop firm may copy successful trading strategies, so traders may need to share their strategies with others
- Your deposit is not insured as a prop trader, making it vulnerable to fraud and other business risks. The main reason for this is that there is little to no regulation
Prop trading has advantages and disadvantages, to sum up. To decide if prop trading is worth it, traders must carefully weigh these factors.
Top 7 prop trading firms
FTMO
To qualify for a funded trading account at FTMO, you will need to successfully complete a rigorous three-step process designed to evaluate your trading abilities:
FTMO Challenge - In this initial phase, you are required to meet specific profit targets within a 30-day period. The aim is to demonstrate consistent profitability and trading skills
Step 2: Verification Procedure - After successfully completing the FTMO Challenge, you progress to the 60-day Verification Procedure. During this phase, you must show that you can replicate your trading success from the previous step, further validating your trading abilities
Step 3: Account Offering - Upon successful completion of the FTMO Challenge and Verification Procedure, FTMO will contact you with an offer to trade their capital. Account sizes range from $10,000 to $400,000, providing traders with opportunities at different funding levels
One notable strength of FTMO lies in its focus on currencies, making it an excellent choice for traders interested in Forex trading. With FTMO, you have access to trade 44 currency pairs and 10 cryptocurrencies. Additionally, you can also trade cash indices, commodities, and stock CFDs, diversifying your trading portfolio.
FTMO supports the three most popular Forex trading platforms, namely MetaTrader 4, MetaTrader 5, and cTrader, offering free versions for traders to utilize.
The participation fee varies depending on the account size. For instance, the fee for the 10k account starts at 155 EUR, while the 25k account is 250 EUR, the 50k account is 345 EUR, the 100k account is 540 EUR, and the 200k account is 1,080 EUR. Traders receive capital ranging from $10,000 to $400,000 and benefit from an 80/20 profit split, where they receive 80% of the profits they generate with the provided capital.
Furthermore, FTMO offers a Scaling Plan for funded accounts, allowing traders to enhance their Profit Split in their favor. This plan enables profit splits of up to 90:10, favoring the trader, for account sizes up to $2,000,000.
TopStep
Topstep has established itself as a trusted and innovative leader in the industry. To participate in Topstep's funded account program, all traders begin by completing the Trading Combine stage. This allows you to open a real-time simulated futures account with buying power options of $150,000, $200,000, or $300,000.
During the Trading Combine, you have the opportunity to earn a funded trading account by showcasing consistent profitability and effectively managing risk. Once you qualify, you can trade in real time using Topstep's capital, eliminating the personal financial risk. Impressively, traders can qualify for a funded account in as little as eight trading days, with the amount of funding provided determined by the selected Trading Combine plan.
When it comes to profit withdrawals, you can withdraw the first $5,000 in profits in full, and 90% of any profits exceeding that amount are also available for withdrawal.
Topstep's commitment to trader development is evident through their range of services. They provide instruction from professional traders, offer tools and daily live videos, deliver personalized analytics on performance, and even provide bonuses to traders. Topstep supports a variety of trading platforms, including TradingView, NinjaTrader, Sierra Chart, TSTrader, MultiCharts, and many more. This allows traders to choose the platform that best suits their preferences and trading strategies.
Pricing for Topstep varies depending on the account size. For a $50,000 account, pricing starts at $165 per month. $100,000 accounts cost $325 per month, and $150,000 accounts are priced at $375 per month. Additionally, Topstep offers a 14-day free trial, allowing traders to experience their services before committing.
Funded Next
Funded Next provides up to $200,000 with a $4 million scale-up plan. Funded Next offers 2 account types, with 5 plans each, to help users select the best offer for their goal.
Funded Next has two funding models: the challenge in the first funding model is divided into 2 stages and is limited in time, while the second one does not have time restrictions. First, a trader earns 60-80% of profit depending on the account type. The profit split percentage can further be increased to 90%. What’s unique about Funded Next is that a partner of the prop company earns a 15% profit even from the assessment stage (challenge), even despite the assessment taking place on a demo account.
The MetaTrader 4 platform is used for trading, and the prop firm also has a proprietary mobile app. Maximum leverage is 1:100.
Traddoo - loyal trading conditions
Traddoo offers traders two challenge pathways to qualify for funded account access: the 1-Step Challenge and the 2-Step Challenge.
The 1-Step Challenge provides a streamlined option for traders confident in their ability to be consistently profitable while managing risk. Traders must meet a single objective benchmark to receive funding.
Alternatively, the 2-Step Challenge features a two-phase structure. In Phase 1, traders aim to achieve a 10% profit target while observing strict risk controls like a maximum 5% daily loss and 10% overall drawdown. Successfully completing Phase 1 leads to Phase 2, where traders must gain an 8% profit under the same risk parameters.
Additionally, Traddoo allows traders to scale their account size through demonstrated performance over time. Consistently achieving a 10% profit across 3 months rewards traders with a 50% increased account balance.
To assist traders, Traddoo supplies educational resources, trading tools, and a supportive community. Webinars, courses, and one-on-one coaching help traders sharpen their skills and bolster their chances of funding qualification.
FTUK
FTUK offers traders an opportunity to immediately begin trading with capital provided by the company with its Instant Funding Program, as well as a traditional approach - Evaluation Program.
Traders receive a flexible 80% profit share once milestone objectives are achieved. FTUK's rapid scaling plan allows traders to quickly increase their trading capital based on their performance, with a maximum of $5,760,000 per account. Traders can have up to 3 active accounts simultaneously, potentially reaching a total funding of $17,280,000. Traders can also immediately start earning a profit share from their very first trade.
Traders first choose between funding levels ranging from $14,000 to $90,000. They then complete a simple sign-up process, paying a one-time fee between $149 to $1200.
A key aspect is the program's flexible trading. Traders can hold positions overnight and across weekends with no time limits. Once a trader hits the 10% profit target for their level, their funding amount scales up by 400% for the first milestone, and doubles with each subsequent target achieved. Withdrawal of profits is also permitted anytime from the second funding level reached. Leverage is up to 1:100.
FTUK provides risk management through a fixed equity stop-out level of 8%, which is above average. Traders profit from their success with FTUK handling any trading losses that may occur. This makes the Instant Funding Program ideal for experienced traders wanting to prove themselves with larger volumes.
Rules and Regulation
- Regulation
Prop firms don’t have to obtain licenses, since they provide trading platforms for working on demo accounts. Since there is no real asset trading, regulators don’t require a separate license. Licenses are necessary only if firms provide educational courses, investment consulting, or bring traders to the real market. Prior to opening an account with a prop firm, check whether it is registered in its jurisdiction.
- Investor protection
In case of violation of investor rights or suspicion of fraud, apply to the following authorities:
- ESMA (the European Securities and Markets Authority) handles complaints, but doesn’t resolve disputes directly;
- Polish financial ombudsman;
- KNF (the Polish Financial Supervision Authority);
- The Financial Commission is a self-regulated organization that considers complaints against financial companies;
- Law enforcement bodies of Poland and of the firm’s country of registration;
- Other authorities that deal with violation of financial laws.
- Taxation
The tax rate depends on the taxable amount and asset type. For example, the rate on cryptocurrency transactions is 19%. It can range from 17% to 32%. If firms are not tax agents, traders are obliged to report their profits
How to choose a prop trading account in Poland?
Going with a prop firm that is right for your trading style and financial goals is crucial. Although choosing the best one seems like a non-trivial process, you can easily accomplish this by following the TU expert's guide to choosing a prop firm below:
Take note of the portion of profits that the trader is allowed to keep. Select a company that offers a larger profit split or a more enticing profit share plan
Consider the method of evaluation used to decide whether the trader qualifies for funding from the prop firm. Pick a company that conducts evaluations in a fair and transparent manner
Check out the variety of markets that the company offers. Select a company that offers a variety of markets or specialises in the markets you are interested in
Determine the amount of leverage the company offers by looking at the available leverage. Pick a company that offers the right amount of leverage for your trading style
Customer service is readily available, and any trader needs to have good customer service. To handle any questions or problems that may arise, pick a company that offers attentive and helpful customer support
For successful trade execution, a trading platform must be reliable. Choose a firm that offers a stable and user-friendly trading platform with a variety of tools and features
Is prop trading in Poland free?
No. Typically, reputable prop firms require their traders to pay a small subscription fee of at least 813.35 PLN. These fees vary from firm to firm. If you choose the right company to work with, funded trading accounts can be very dependable. It is strongly advised to conduct extensive research and due diligence before choosing any company.
Do I pay trading taxes in Poland?
Yes, profits from trading are seen as revenues from capital gains and are taxed at a rate of 19%. This is also applicable when a taxpayer obtains these revenues as part of business activities, and it will not be possible for investors to choose taxation on general principles at the rates of 18% and 32%.
How much can I earn in prop trading?
A proprietary trader's average annual salary in the United States is around 41194.03 PLN, or about 197.73 PLN per hour, according to research. Due to a number of factors, prop traders have the potential to generate significant income. They engage in trading with larger capital bases, enabling them to seize bigger market opportunities. The highest trader salary can differ based on factors like experience, skill level, and market conditions.
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.
FAQs
Is prop trading legal in Poland?
Yes. Prop trading is legitimate. An experienced trader can qualify for a prop firm's capital after passing an evaluation, paying a fee, and getting a funded account.
What is the best prop firm in the world?
The best prop firms include, TopStep, FTMO, Earn2Trade, and E8 Funding.
How do I join a prop trading firm?
You must be familiar with prop trading, understand its benefits and drawbacks, choose a firm, obtain a license for verification, fund your account, and then take an evaluation test before you can join a prop trading firm.
Do prop traders make money?
Yes, prop firm traders have the potential to make money by trading with the firm's capital and earning profits.
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Team that worked on the article
Winnifred Emmanuel is a freelance financial analyst and writer with years of experience in working with financial websites and businesses. Her expertise spans various areas, including commodities, Forex, stocks, and cryptocurrency. Winnifred tailors her writing to various audiences, including beginners, while also providing useful insights for those who are already familiar with financial markets.
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).
