How To Get A Free Prop Firm Challenge Account For Forex - FundingTraders Blog (2024)

There are unique opportunities to get a free prop firm challenge account for forex. The current competition in the prop firm industry has created new offers to attract traders. Many forex prop firm challenge offers include smaller accounts, lower challenge fees, and refunds upon passing.

However, some “free prop firm challenges” may not be exactly free. Forex traders may have to settle for lower profit splits, poorer trading conditions, or extended trial periods.

As an aspiring trader, you can leverage your skills and talents to pass a prop firm challenge. Then, receive a refund for the challenge fee on your first payout.

>> Funding Traders encourages everyone to select free-trial accounts and evaluate the platform in a risk-free environment. After a complete due diligence with the free account, sign up for our live challenge accounts and leverage:

  • Up to $2M funded accounts
  • No-time period challenge accounts
  • No-commission challenges
  • Support for news trading
  • Rapid 7-day payouts

Here’s how to get a free prop firm challenge account for forex trading.

Select Your Account Size

First, select your challenge account size to trade in forex. Prop firms offer a wide variety of free challenge accounts to cater to different traders. Select your preferred account size – based on your expertise, requirements, and trading goals. Additionally, evaluate available drawdown types to select a free challenge best suited for your trading objectives.

At Funding Traders, you can select a challenge account with varying capital, including:

  • $10K challenge account
  • $25K challenge account
  • $50K challenge account
  • $100K challenge account
  • $200K challenge account
  • $300K challenge account
  • $500K challenge account

>> Skilled traders can also sign up for our Apex and Elite challenge accounts to manage $1M and $2M funded accounts.

While selecting a challenge account, you should also determine if the prop firm aligns with your trading strategies. Plus, check the available leverage on your challenge account to increase your earnings. Definitely, contact a reputable forex prop firm for different free challenge accounts.

Sign Up For Discounts And Giveaways

Next, sign up for exclusive discounts, giveaways, and contests to get free prop firm challenge accounts. Many prop firms offer consistent discounts and giveaways to reward skilled traders. Small-scale proprietary firms often require traders to promote their social media handles in return for discounts. Meanwhile, industry-leading prop firms like Funding Traders offer exclusive discounts to all traders – without completing any milestones.

Here are a few discount offers available for our challenge accounts:

  • Use “BLOG” for 30% off
  • Use “Blueberry” for 30% off+90% profit split
  • Use “2024” for 24% off + 90% profit split
  • Use “FEB1” for 25% off

Similar to discount offers, you can also participate in trading contests to get free challenge accounts. These contests reward traders with high returns, strong risk management compliance, and proven skills. Join our online communities to receive the latest updates on discounts, trading contests, and free challenge account giveaways.

Definitely, look for exclusive discounts and giveaways to get free prop firm challenge accounts for forex trading.

Pass Your Prop Firm Challenge For 100% Refund

Pass your prop firm challenge to get a 100% refund and a free forex-funded account. Often, prop firms structure their payout policies to refund the initial fee – creating a mutual trust level with the trader. Meet the challenge conditions, profit targets, and drawdown limits to pass your challenge. Plus, you should also demonstrate strong risk management to complete the evaluation process successfully.

Some cheapest prop firms with free challenge accounts set high-profit targets and drawdown limits – restricting many traders from getting a refund. Meanwhile, Funding Traders offers a stress-free evaluation period with simple rules to pass the challenge.

Meet these challenge objectives and get your 100% refund of the initial fee:

  • 1-Step Profit Target: 10%
  • 2-Step Profit Target (Phase 1): 10%
  • 2-Step Profit Target (Phase 2): 5%
  • 1-Step Daily Drawdown: 4%
  • 1-Step Maximum Drawdown: 5%
  • 2-Step Daily Drawdown: 5%
  • 2-Step Maximum Drawdown: 10%

>> At Funding Traders, all challenge accounts offer no time limits – allowing traders to take as many days to pass the challenge. Once passed, we process a 100% refund of your joining fee along with the first payout.

Indeed, join a free prop firm that offers a 100% refund of the challenge account fees.

Request Account Review For Exclusive Discounts

Request an account review to receive support and exclusive discounts. When buying a challenge account, you can add the “Account Review” addon during checkout. This gives you added guidance and support on your challenge performance. Whether you pass or fail, the accounts department will provide:

  • A written report for performance analysis
  • Actionable plans to improve strategy
  • Scheduled call to discuss development
  • An exclusive discount on the next purchase

By establishing a nurturing relationship with your forex prop firm, you can pass your challenge and get a refund on the fees. Even though your first challenge might not be a free account, you can get a free prop firm challenge account by passing future challenges. Certainly, sign up with a prop firm that offers exclusive opportunities and discounts by nurturing relationships with traders.

Keep Up To 100% Profit Split

Keep up to 100% profit split with your free forex prop firm challenge account. Often, free challenge accounts offer a limited profit split, restricting your earning potential. In some cases, you may only be eligible for 40% of the earned profit – while the company keeps 60% of the split.

With these prop firm payout policies, you only get to keep a lower profit percentage. Funding Traders rewards traders’ winning performance with comparatively higher profit split. By default, all traders are eligible for 80% profit in their favor.

>> You can also sign up for exclusive add-ons during checkout to keep up to 90% or 100% of earned profit on your funded account. To access your winnings faster, you can even request fast 7-day payouts and get your profit split within a week.

Indeed, choose a free prop firm challenge account with up to a 100% profit split.

There are several opportunities to get a free prop firm challenge account for forex trading. First, select a challenge account size that best suits your trading goals, requirements, and preferred strategies. To get a free challenge account, join the prop firm’s online communities and look out for exclusive discounts.

You can also pass your prop firm challenge to get a 100% refund on your initial joining fees. You can also get the exclusive “account review” add-on to get a performance analysis report – along with an additional discount on your next challenge account. Finally, you can keep up to a 100% profit split with your free challenge account.

Ready to get a forex funded account? Click here to start your free prop firm challenge trial.

How To Get A Free Prop Firm Challenge Account For Forex - FundingTraders Blog (2024)

FAQs

How To Get A Free Prop Firm Challenge Account For Forex - FundingTraders Blog? ›

First, select a challenge account size that best suits your trading goals, requirements, and preferred strategies. To get a free challenge account, join the prop firm's online communities and look out for exclusive discounts. You can also pass your prop firm challenge to get a 100% refund on your initial joining fees.

How to get prop firm account for free? ›

One way to start prop trading without paying a dime is to enter trading contests, where you can compete with other traders and show your skills. These are great opportunities to test your trading strategies, get feedback, and win prizes. Monitor or research different prop firms to see who offers this opportunity.

Is there a free prop firm challenge? ›

Benefits of Free Prop Firm Challenges

Zero Financial Risk: Unlike traditional funded accounts that require upfront fees, free challenges allow you to test your mettle and hone your strategies without any financial commitment.

Is there a free forex funded account? ›

Many brokers offer free funded Forex accounts to attract beginners and help to enter the market without risking our own money.

How to get a funded forex account? ›

To prove your ability as a forex-sponsored trader; you must go through an evaluation process according to the rules set by the prop firm. You will be granted access to a prop firm's funded account once you prove that you possess the skills to succeed in an evaluation.

Which is the most trusted prop firm? ›

The most popular prop trading firms and funded programmes
  • Axi Select.
  • FTMO.
  • The Forex Funder.
  • E8 Markets.
  • The 5%ers.
  • Funded Next.
  • Funded Trading Plus.

Which prop firm has the lowest fees? ›

Cheapest Prop Firms Forex 2024 - with $5K Funding Accounts...
  1. The5%ers. The5%ers specializes in providing funding of up to $100,000 to forex traders. ...
  2. FTMO. ...
  3. MyForexFunds. ...
  4. Earn2Trade. ...
  5. The Funded Trader Program. ...
  6. OneUp Trader. ...
  7. Apex Trader Funding. ...
  8. True Trader.
Feb 27, 2024

Can I get a free FTMO challenge? ›

Traders can use our Free Trial demo account for 14 days. After this period, they can create a new one. The rules are closely aligned with the paid version of the FTMO Challenge, although the minimum trading days and required Profit Target are halved for the trial period.

How hard is it to pass a prop firm challenge? ›

In September 2023, Forex Prop Firm published their challenge passing rates, revealing that only 10.59% of participants were able to pass the first level, and a mere 9.26% qualified for the advanced pro level.

How many people fail prop firm challenges? ›

Studies have shown that around 4 out of 10 people pass the first stages of any Prop Firm Challenge, and 2 out of the 4 make it through to get a Funded Account. But only 1 person ends up getting paid.

What happens if you lose money on a funded forex account? ›

So, what happens if you lose money on a funded account? Traders who violate the maximum drawdown rule lose access to the account and must pay and pass the challenge again.

How can I practice forex trading for free? ›

To practise your trading skills safely, try opening a risk-free Forex demo account before creating a real one. With the Octa demo account, you get a full trading experience while using only virtual funds without risking any real money.

How can I join forex trading without money? ›

Participating in Forex Contests or Promotions

These contests often provide an opportunity to trade forex with virtual funds or receive a small trading account funded by the broker. Participating in such events can be an excellent way to trade forex with no money and potentially win real funds or trading capital.

What is the best funding platform for forex? ›

FTMO and Topstep are two of the best funded trader program in 2023. FTMO is considered to be the best platform for forex traders with realistic evaluation criteria, high profit splits with covered losses and funded accounts of up to $ 400,000.

How do I pass a forex funded account? ›

Staying Focused and Disciplined

Avoid distractions and stay focused on your trading strategies. Don't be afraid to take a break if you need it, but always come back with a clear head and renewed energy. Remember that consistency is key, and you can only achieve your goals by staying focused and disciplined.

Is forex funded account worth it? ›

There are several advantages to using a funded account in forex trading: Risk Mitigation: By using someone else's capital, traders can limit their personal financial risk. They can focus on honing their trading skills without the fear of losing their own money.

How much is a prop firm account? ›

How much does it cost to join prop trading firms? This is one of the most common questions beginner prop traders usually ask. Many prop trading firms typically charge a monthly subscription fee of $150 to $25000. It is essential always to compare the fees and the benefits the company offers before joining one.

Do you have to pay for prop firm? ›

When you trade with a prop firm, you are risking the fee you pay to attempt the challenge or open the account, while the firm risks the capital they have provided you to trade. Whether you owe anything if you lose a prop firm's funds ultimately depends on your agreement with them.

Which prop firm has a free trial? ›

The Best Prop Firms with Free Trials
FirmOverall ScoreMax instant funding
FTMO4.03200,000 USD
Smart Prop Trader3.57200,000 USD
Fidelcrest3.51 Million USD
Finotive Funding3.353.2 million USD
1 more row

Can I start my own prop firm? ›

This has resulted in a booming prop trading industry: prop trading firms aren't heavily regulated as they provide their trading funds to clients and then share profits. Whether you want to start your prop trading firm or add a prop trading offering to your existing brokerage, the best time is now.

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