Top 10 Best Prop Trading Firms Forex 2024 in The World (2024)

To help traders get started, a variety of "prop firms" have emerged that provide capital, training, and technology to new Forex traders. In return, they take a percentage of any trading profits. These firms, often called "funded accounts", allow traders to gain experience in live markets without risking their own capital.

In this post, we will explore the top Forex prop firms available to in the wolrd traders.

List best Forex Prop Firms in 2024

E8 Funding ( E8 Markets)

E8 Funding is a popular prop firm founded in the UK but expanding globally. They offer some of the highest profit splits in the industry along with unique social elements.

Overview

• Launched in 2021 with extensive financial backing
• Offers 80% profit splits and ability to reduce to 90%
• Account sizes from $25k up to $300k
• Additional profits from referring other traders

Profit Split

• Start with 80% payout of net profits
• Increase to 85% payout after six months
• Further increase to 90% payout after 2 years or $3M profits

Cost

• $595 initial trader combine evaluation fee
• No monthly fees, commissions, or additional costs
• Option to lease professional tools/indicators

Evaluation Programs

Pros and Cons

Pros

• High and rising profit split percentages
• Robust community engagement tools
• Multiple demo challenges to gauge readiness

Cons

• Still proving long term trader success rates
• Limited track record due to age of firm
• Narrow instruments outside major FX pairs

FTMO

FTMO (previously known as MyForexUniverse) is one of the largest and best-known prop firms globally. Based in the Czech Republic, they provide funded accounts up to $400,000 to traders that can pass their evaluation.

Overview

• Founded in 2016 and funded over $350 million to traders since inception
• Offers account sizes from $100k to $400k after passing two-step evaluation
• Traders keep 80% of net profits each month
• Access to their proprietary web platform and free VPS hosting

Profit Split

• FTMO accounts work on 80/20 profit split
• If a funded account generates $10k profits within a month, the trader keeps $8k
• Withdrawals allowed at any time without limitations
• Various account tiers with higher size targets for larger accounts

Cost

• Two-step evaluation process$150 for first combine challenge, get funded at $30k accountAdditional $350 for second challenge to get $100k-$400k account
• Refunds given if profit targets met in 5 days
• No monthly subscription fees or commissions

Pros and Cons

Pros

• High account sizes available
• Low historical failure rates
• Active trader community via Discord
• Multiple currency options

Cons

• Rigid risk limits and trading restrictions
• Limited US payment options
• Strict profit split beyond smallest account

The Funded Trader

A popular international prop firm, The Funded Trader focuses on short term volatility-based traders in Europe but serves clients globally. They deeply integrate trading tools with a proprietary web platform along with innovative gamification.

Overview

• Founded in 2020 with heavy gambling industry ties
• Uniquely targets volatile short term traders
• Account sizes from $5k up to $200k
• Engages traders via rankings and quests

Profit Split

• Standard 80% profit split rate
• Increase to 85% after passing quests
• Further increases for top monthly traders

Cost

• $118 initial combine evaluation fee
• Platform subscription embedded
• Average brokerage spreads on trades

Pros and Cons

Pros

• Innovative web platform UX
• Engaging quest gamification
• Lucrative campaign prizes

Cons

• Very high combine failure rate
• Confusing array of offerings
• Steep activity requirements

Forex Prop Firm

Launched in 2021, Forex Prop Firm focuses on small account sizes for new traders along with an intensive educational curriculum. They are based in Canada and serve an international trader base.

Overview

• Created by established industry traders and educators
• Caters to brand new FX and stocks traders
• Account sizes from $1k up to $50k
• Structured training program lasts 5-10 weeks

Profit Split

• 80% profit split across all account levels
• Withdrawals available instantly
• No change in revenue share terms

Cost

• $299 upfront for new trader training
• $199 monthly subscription fee
• Commission fees on active trading

Pros and Cons

Pros

• Designed for unproven new traders
• Unique focus on education/coaching
• Multiple account currencies

Cons

• High monthly fees beyond profit split
• Low maximum account size
• Limited instruments outside major FX pairs

Proprietary Trading Firm

Proprietary Trading Firm (or PropTF) stands out for specializing in stocks, crypto, options, and futures trading along with Forex. They target experienced traders with specialized backgrounds.

Overview

• Founded in 2015 serving mainly US-based traders
• Fund experienced futures, crypto, stocks, options traders
• Account sizes from $50k to $1 million+
• Expect traders to manage own risk controls

Profit Split

• 80-90% payout rates based on volume
• Ability to customize contract terms
• No long-term change in revenue share

Cost

• $500 upfront for combining simulation
• Broker data commissions per trade
• First year subscription fees waived

Pros and Cons

Pros

• Markets beyond just Forex trading
• Flexible combine requirements
• Attracts sophisticated trader pool

Cons

• High minimum account size
• High combine failure rate
• Less protections for traders

Ment Funding

Ment Funding is a fast-growing US prop firm focused on stocks trading along with crypto, futures and Forex options. They target new and experienced traders alike with multiple combine options.

Overview

• Founded in 2020 and rapidly expanding
• Caters to US equities and derivatives traders
• Account sizes from $25k up to $500k
• Three tier system to get funded

Profit Split

• Start with 70-80% payout rate
• Increase to 85% after six months
• Further increase to 90% after 12 months

Cost

• $125 - $250 evaluation fees
• Possible subscription fees
• Brokerage commissions on trades

Pros and Cons

Pros

• Strong stock trading focus
• Lucrative highest tier payout
• Multiple account currencies

Cons

• Still proving long term success
• High combine failure rates
• Steep evaluation fees

MyFundedFX

A contender for top Forex prop firm based in the US, MyFundedFX focuses on small account traders along with premium tools and tight spreads. They prioritize US-based trading professionals with expertise using MetaTrader 4 (MT4).

Overview

• Created by a team of experienced US FX traders
• Caters to MT4 traders on fast ECN network
• Account sizes from $5k to $100k+
• Expect basic market knowledge

Profit Split

• Start with 80% profit split rates
• Increase to 85% after six months
• Further increase to 90% after 12 months

Cost

• $249 initial one-time combine fee
• Possible platform subscription fees
• Tight brokerage spreads on trades

Pros and Cons

Pros

• US-based firm with premium tools
• Lucrative highest tier payout
• Designed around MT4 platform

Cons

• Still proving long term success rate
• Limited markets beyond Forex
• High combine failure rate

Smart Prop Trader

Established in the UK with international reach, Smart Prop Trader competes for top Forex prop firm status targeting scalpers to swing traders globally. They offer integration across popular platforms along with strong risk controls.

Overview

• Founded in 2015 serving mainly international markets
• Integrates MetaTrader 4/5 and cTrader platforms
• Account sizes from $20k up to $2 million
• Options trading integration in development

Profit Split

• Starts at 80% profit split rate
• Increases to 85% after three months
• Further increase to 90%+ based on volume

Cost

• $249 initial one-time combine fee
• Possible platform subscription fees
• Average brokerage spreads on trades

Pros and Cons

Pros

• Established prop firm record
• Multiple platforms supported
• Lucrative highest tier payout

Cons

• Modest account tier progression
• Limited instruments outside Forex
• High combine failure rate

SurgeTrader

A global Forex prop firm rapidly gaining interest, SurgeTrader competes for top status with a focus on short term scalpers along with offering copy trading accounts. They integrate deeply with MetaTrader 4 and 5 providing premium tools.

Overview

• Founded in 2021 expanding quickly globally
• Specializes in supporting short term scalpers
• Account sizes from $1k up to $300k
• Integrates social trading into ecosystem

Profit Split

• Starts at 80% profit split rate
• Increases to 85% after six months
• Further increases based on volume and results

Cost

• $149 initial combine evaluation fee
• Possible platform subscription fees
• Average brokerage spreads on trades

Pros and Cons

Pros

• Innovative copy trading options
• Lucrative highest tier payout
• Specialized tools for scalpers

Cons

• Very new to evaluate fail rate
• Confusing array of offerings
• Steep minimum activity requirements

TopTier Trader

TopTier Trader is a global prop firm rapidly expanding in the US that tries to balance rigorous risk controls with maximal trader rewards. They focus on short term volatility scalpers along with swing position traders.

Overview

• Founded in 2021 by a team of prop traders
• Specializes in volatility scalpers and swing traders
• Account sizes from $10k up to $500k
• Developing crypto, futures, options trading

Profit Split

• Starts with industry-high 85% rate
• Increases to 90% after volume milestones
• Goes up to 95% after extensive history

Cost

• $249 initial combine evaluation fee
• Possible platform subscription fees
• Institutional grade spreads on trades

Pros and Cons

Pros

• Extremely high profit split rate
• Stacked tiered payout progression
• Developing products beyond just Forex

Cons

• Very new entity with no long term record
• Confusing array of account offerings
• High minimum account tiers

How to Choose A Prop Firm in US

Choosing the right prop firm is an important decision for new traders. Here are some key factors to consider when selecting a US-based prop firm:

Reputation and Track Record

Look for established firms with a strong reputation, extensive experience, and a proven track record of success among their funded traders. Be wary of any firm making outsized claims about guaranteed profits.

Training and Support

Many prop firms offer educational resources, mentoring, and ongoing support to help traders develop their skills. Prioritize firms that provide robust training tailored to forex trading.

Funding Terms

Evaluate the firm's funding tiers, profit splits, fees, and payout schedules. Make sure you understand all terms before signing any agreements.

Technology and Tools

Prop firms should provide access to advanced trading platforms, analysis tools, virtual trading environments, and other helpful technologies.

Risk Parameters and Rules

Review the trading parameters, risk limits, and compliance rules you must follow. Ensure you can consistently trade within the required guidelines.

Advantages Of United States Prop Firms

Joining a US-based prop firm as a funded trader provides several potential benefits:

Increased Buying Power

Firms provide leverage and capital to traders to command larger position sizes than trading one's own limited capital. This magnifies potential gains.

More Freedom Than Institutional Trading

Prop firms give traders more autonomy than working for a bank or hedge fund. Traders can refine their own strategies while still getting funded.

Accelerated Learning and Development

The educational resources, mentoring, and focus on skill development provided by prop firms can accelerate traders' learning curves.

Potentially Lucrative

With the backing of a firm's capital, skilled traders can achieve an income stream from trading that surpasses many traditional jobs.

Community and Collaboration

Being surrounded by fellow traders provides a sense of community, opportunity to collaborate, and motivation to succeed.

Low Barrier to Entry

Compared to job applications for investment banks, prop firm evaluation processes are more meritocratic. Talented traders can get funded regardless of background.

Disadvantages Of United States Prop Firms

However, there are also some potential downsides to weigh:

Profit Splits

Prop firms take a cut of trader profits, often 20-40%. This reduces net income compared to trading one's own capital.

Oversight and Limitations

Firms impose risk limits, trading requirements, and compliance rules. Traders sacrifice some autonomy compared to independent trading.

Pressure to Perform

Funded account terms are usually less than 12 months before needing to re-qualify. Traders must perform well quickly or lose their funding.

Risk of Loss

There is no guaranteed income. Most funded traders fail to achieve consistency. Losses can exceed profits.

Less Experience Trading Sizeable Capital

Trading a firm's capital in a funded account is different from trading one's own small accounts. Lack of experience trading large can lead to mistakes.

Firm Collapses

Prop firms carry risk, like any private company. Poor management or losses can cause a firm to close down, leaving traders without support.

What Can You Trade On A Prop Firm

Most prop firms support trading a range of assets, though specific offerings vary. Common tradable markets include:

• Major, minor, and exotic currency pairs
• Cryptocurrencies like Bitcoin and Ethereum
• Major stock indices like the S&P 500, Nasdaq, FTSE, and Nikkei
• Commodities like gold, silver, oil, and natural gas
• US and international equities
• Futures contracts on equities, commodities, and fixed income

Firms may restrict trading certain higher-risk instruments like penny stocks until meeting certain profitability milestones. New traders often begin trading major forex pairs before expanding to other markets.

Forex

All prop firms offer forex trading, the core focus for most aspiring traders. Major, minor and exotic currency pairs across majors like the US dollar, Euro, Japanese Yen and British Pound are universally available.

Stocks and Stock Indices

Major stock market indices like the S&P 500 as well as US equities are commonly tradable. International stocks may be limited based on geographic focus.

Cryptocurrencies

Bitcoin, Ethereum and other major cryptocurrencies have grown in availability. But crypto trading may be limited based on trader skill level.

Commodities and Futures

Commonly accessible commodities include gold, silver, oil, and natural gas. Futures contracts on equities, commodities and fixed income also tend to be available.

How Much Is The Profit Split

Prop firms typically take 20% to 50% of trader profits in exchange for providing capital, infrastructure, and support. The exact profit split depends on:

The Funding Tier

Higher funding tiers with more capital allotted generally have more favorable splits for traders. Starting tiers tend to be 40-50% to the firm.

Performance Milestones

As traders prove consistency and hit certain profit thresholds, firms will often improve the split. Profitable traders can eventually earn 80% or more of profits.

Tenure with the Firm

Longer-tenure traders will sometimes see improved splits over time as a loyalty incentive.

Fees and Commissions

Beyond the revenue share, traders pay commissions, platform fees, data fees and other costs that impact net income.

Recoupable Drawdowns

If a trader's losses exceed a certain drawdown limit, the firm may take a larger revenue share until that drawdown is recouped.

So while the headline split may be 80/20 for example, the effective split after costs may be 70/30 or worse for struggling traders. Consistently profitable traders can improve terms over time.

What Trading Platforms Are Available?

Funded traders are provided access to professional trading platforms by their prop firm. The most common options are:

MetaTrader 4 and MetaTrader 5

MetaTrader 4 and 5 remain the industry standard for retail trading platforms, offered by almost every prop firm. The platforms allow advanced charting, backtesting, algorithmic trading and Expert Advisor automation scripts.

NinjaTrader

Common among US-based prop firms, NinjaTrader provides market analytics, automation, backtesting and advanced order management tools comparable to MetaTrader.

cTrader

Offering powerful charting and analytics, cTrader is gaining popularity especially among firms outside the US. The desktop-based platform also allows creating and backtesting trading robots with the cAlgo add-on.

MultiBank Platforms

Some prop firms offer MultiBank platforms like MT4 MultiTerminal. These specialized platforms provide management and risk controls across a fund with multiple traders.

Proprietary Web & Mobile Apps

A few prop firms have built their own proprietary web and mobile trading apps, tailored specifically to their traders. But MetaTrader and NinjaTrader remain more common.

The platform choice may depend on trader preference, asset classes traded, required functionality, and geographic location. Most legitimate prop firms provide advanced platforms for free.

Are Prop Firms Legit?

The accelerated rise of prop firms has led some to question their legitimacy. However, the majority of prop firms do operate legitimate business models. Here are tips for identifying trustworthy firms:

• Track record & reputation - Established firms with a long operating history tend to be lower risk.
• Regulated - Prefer firms registered with regulators like the NFA, FCA, or CySEC depending on countries operated in.
• Transparent agreements - Profit splits, fees, and account terms should be clearly explained without pressure.
• Conservative risk management - Firms with prudent risk controls tend to cultivate successful traders, not gamblers.
• Post-trading account option - Can traders withdraw, reinvest, or maintain live trading upon completing prop firm challenges? Lack of post-challenge options can signal issues.
• Support traders - Responsive support teams, robust training, and community engagement indicate firms focused on trader development versus quick income.

As with any investment opportunity, prudence is warranted. But the majority of funded traders succeed with legitimate, supportive prop firms focused on mutual profitability over the long-term.

Conclusion

The world of Forex prop firms continues expanding at a rapid rate to meet surging interest in the domain of retail trading. While the firms described above represent the current top options for US and global traders, new challengers continue emerging. Selecting the right funded account involves balancing profit splits, costs, account sizes, platforms, instruments, communities and risk controls across short and long time horizons for your individual trading style and goals.