Best Forex Proprietary Trading Companies in Portugal

Is Forex prop trading a good idea in Portugal?

Forex Proprietary Trading, often referred to as "prop trading," is a unique arrangement where individuals trade financial markets using a firm's capital instead of their own. In Portugal, this approach has gained traction as traders seek opportunities to grow their portfolios. Prop trading allows traders to access risk-free trading accounts" provided by reputable international firms. These accounts serve as a platform for traders to showcase their skills, potentially leading to funded accounts and a rewarding trading journey.

Advantages of forex proprietary trading in Portugal

• One of the primary advantages is the availability of risk-free trading accounts. Traders can engage in real-time market activities without risking their personal capital, allowing for learning and proving grounds.

• Successful prop traders may have the opportunity to attract funds from the proprietary trading company, enabling them to trade larger positions and potentially increase their profits.

• Many of these proprietary trading companies are well-established international players with a proven track record, offering traders a sense of security and credibility.

Disadvantages of forex proprietary trading in Portugal

Qualification challenges can be highly competitive and demanding, with strict qualification criteria, often requiring a proven trading track record. Traders in prop firms also must adhere to strict trading rules and risk management protocols imposed by the firm, leaving little room for personal trading strategies.

While funded accounts can be lucrative, they typically involve profit-sharing agreements, where a portion of the profits generated goes to the trading firm, reducing the trader's overall earnings.

Top 5 prop trading accounts.

Topstep

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 $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.

Fidelcrest

Fidelcrest Review

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With more than 6,000 traders worldwide, Fidelcrest has a strong reputation. The company offers performance coaching, million dollar account sizes, and up to a 90% profit split. During a limited time, Fidelcrest is also offering three bonuses, including a second chance challenge, fast track qualification, and double assets.

With Fidelcrest, you can trade real capital, with the industry’s highest profit split. Fidelcrest will invest real money after your two phases of evaluation.

In terms of tradable assets, Fidelcrest also stands out. In addition to Forex, you can also trade, commodities, indices, and stock shares.

Fidelcrest is one of the prop firms that pays you a commission during the evaluation process. You can receive up to 50% of your earnings after you pass the second evaluation stage. As a funded Findelcrest trader, you’ll make an additional 80-90%.

The number of account options Fidelcrest offers is unmatched by any other company. There is an account that will meet your needs regardless of your risk tolerance, trading strategy, level of experience, or budget. There are three types of accounts: Pro Accounts, Aggressive Accounts, and Micro Accounts. You can open an account with funding of $10,000, all the way up to an account worth $1 million.

Earn2Trade

Earn2Trade Review

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Earn2Trade provides three distinct funded trading programs - The Gauntlet Program, The Gauntlet Mini, and the all-new Trader Career Path Program.

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 on at least 30 days and at least 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). Qualifying traders will then receive an offer of 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 real money 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, with close to 20 options, including NinjaTrader and Finamark, R|Trader, and MultiCharts.

The5ers

The5ers Review

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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.

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. The entry cost ranges from $275 to $875. The 5%ers offer a 50/50 split on profits.

True Forex Funds

Review

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The True Forex Funds proprietary (prop) trader provides its partners with funds for trading in the currency market. Balances are available in USD, EUR, or GBP, ranging from $10,000 to $200,000 or the equivalents in the other two currencies. Later on, the balance can be increased to $400,000. The challenge has 2 phases comprised of 8% and 5% profit targets.

After the completion of the challenge, no limits apply on strategies or the number of trading days. You only need to monitor the daily and overall drawdowns. The 80/20 profit split is in favor of the trader. True Forex Funds does not charge monthly fees. Only initial fees apply and they are fully reimbursed if you pass the challenge. The prop trading firm offers a typical referral program with payouts of 15% of the invited partners’ initial fees. The company’s operation is completely transparent. The payouts register is constantly updated. Clients can trade on МТ4, МТ5, or cTrader.

Are international prop trading firms legit in Portugal?

International prop trading firms indeed operate as legitimate entities, despite not being directly registered in Portugal. While these firms may not have a physical presence within the country, they function as real and established companies, often with headquarters in major financial hubs around the world. These prop firms provide legitimate opportunities for Portuguese traders to explore the world of proprietary trading and potentially grow their portfolios, all within the bounds of existing financial regulations. While they may not have a local presence, their legitimacy is rooted in their global operations and adherence to international financial standards.

How to choose a prop trading account in Portugal?

Selecting the right prop trading account in Portugal is a crucial decision that can significantly impact your trading journey. Here are essential tips to consider when making this important choice, according to Traders Union:

Regulatory compliance: Ensure that the prop trading firm you choose operates in compliance with international regulatory standards. Look for firms that are registered and regulated by reputable financial authorities in their home country. This provides an additional layer of security for your investments.

Account funding and withdrawal policies: Examine the terms and conditions related to funding your trading account and withdrawing profits. Pay attention to factors like minimum deposit requirements, withdrawal processing times, and any associated fees. Transparent and favorable terms can make a significant difference in your overall trading experience.

Risk management tools: Evaluate the risk management tools and strategies offered by the prop trading firm. Robust risk management can help protect your capital and reduce potential losses. Look for features such as stop-loss orders, risk limits, and real-time monitoring.

Trading platforms and instruments: Consider the trading platforms and financial instruments available. Ensure that the trading platform is user-friendly and provides access to a wide range of assets, including major and minor currency pairs, commodities, and indices. A versatile platform can enhance your trading opportunities.

Profit-sharing arrangements: Understand the profit-sharing structure of the prop trading program. Different firms may have varying terms for sharing profits with traders. Assess how much of your earnings you will retain and how much will be allocated to the trading firm.

By carefully evaluating these factors, you can make an informed decision when choosing a prop trading account in Portugal, setting the stage for a successful and rewarding trading experience.

Do I pay trading taxes in Portugal?

Traders in Portugal are generally subject to capital gains tax on profits generated from trading activities. The tax rate varies depending on the type of asset and the holding period. For stocks, bonds, and other financial instruments, the tax rate can range from 28% to 35%. However, for individuals who classify as small investors and meet specific criteria, there may be exemptions or reduced rates.

How much can I earn from prop trading?

Earnings in prop trading vary, but data from Zippia reveals that the average salary for a proprietary trader in the United States is approximately $100,000 per year, with an average hourly rate of around $48. Earnings are influenced by factors such as experience, market conditions, capital, and the chosen prop trading firm. Successful traders often earn more, while those less experienced may earn less. To maximize earnings, traders should develop effective strategies and embrace risk management practices.

Is prop trading in Portugal free?

Prop trading in Portugal offers the opportunity to access funds for trading, but it's important to note that it typically comes with associated costs. Proprietary trading firms usually charge subscription fees, and while these fees may vary, they are not typically offered free of charge. Subscription fees can vary depending on the prop trading firm, but they often fall within the range of €100 to €300.

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: