Selecting the right prop trading firm is pivotal for traders aiming to leverage firm capital and maximize profits. This article offers a concise yet comprehensive comparison of the top 10 prop trading firms, providing valuable insights to help you decide which option is best. From features to costs, available assets, and support services, we cover everything you need to know about these platforms.
Whether you’re a beginner or an experienced trader, our guide aims to simplify the selection process, allowing you to choose an option that best aligns with your trading style and goals.
Top Prop Trading Firms
- The Trading Pit – User-friendly
- FTMO – Easy to use
- Apex Trader Funding – Low-barrier to access capital
- Uprofit – Streamlined setup process
- Earn2Trade – Great educational content
- The Funded Trader – Transparent profit-sharing
- 5%ers – Innovative platform
- Leeloo Trading – Great for beginners
- TopStepTrader – Excellent support and blog content
- Instantfunding.io – Instant access to capital
List & Review of the 10 Best Prop Trading Firms
Next up, we’ll review the top 10 prop trading firms. This section will offer insights into each firm’s key features, strengths, and negatives. After reading these reviews, you’ll be able to make a more informed decision when selecting the platform that aligns with your needs most.
The Trading Pit
The Trading Pit is an excellent platform renowned for its robust trading programs, vibrant community, and educational resources. Traders use The Trading Pit for its diverse market access and advanced trading tools. The platform emphasizes trading skill refinement and performance evaluation, showcased by their competitive challenges aimed at gauging traders’ capabilities. It’s the overall best for beginners looking to start prop trading.
Review
At The Trading Pit, traders will immerse themselves in a supportive ecosystem created for growth. While the platform may lack some features, its user-friendly interface and responsive support channels more than compensate. Novice and advanced traders alike benefit from The Trading Pit’s comprehensive training content and competitive challenges. In fact, you decide what challenge to complete based on your risk tolerance and skill level.
| Feature | Details |
|---|---|
| Challenge | Futures – VIP: $600 to control $250,000 Executive – $349 to control $150,000 CFD – VIP: $999 to control $100,000 Executive: $399 to control $50,000 |
| Costs | Challenge fee, monthly fee, market data monthly fee |
| Assets Available | Forex, futures, CFDs, indices, commodities, stock, and crypto. |
| Customer Support | Email, phone number, live chat support. |
| Trading Platforms | ATAS, Rithmic, Quantower, MT4, MT5 |
FTMO
FTMO is another leading trading firm that offers a great variety of tools and educational resources. Traders gravitate to FTMO’s transparent pathway to accessing firm capital and earning profits. The platform’s two-stage evaluation, designed to assess traders’ skills and risk management, offers up to 90% of the profits.
Review
FTMO’s reputation makes it one of the top choices for traders due to its rigorous yet fair evaluation process. Traders can benefit from the academy, which lets beginners learn everything they need to know before entering a challenge. Also, there is a trading leaderboard showing the top earners and how much they have made.
However, if you’re having trouble with anything on the platform, the helpful customer support will assist quickly via live chat.
| Feature | Details |
|---|---|
| Challenge | Challenge balance varies from $10,000 to $200,000, with profit requirements changing based on the starting capital. |
| Costs | Only the challenge fee which is reimbursed after successfully passing the challenge and verification. |
| Assets Available | Forex, CFD, indices, commodities, stock, and crypto. |
| Customer Support | Email, phone number, live chat support. |
| Trading Platforms | MT4, MT5, cTrader, FXtrade |
Apex Trader Funding
Apex Trader Funding offers a streamlined approach and transparent profit-sharing model. Traders are drawn to this prop trading firm for its low barriers to entry with the rithmic and tradovate challenges.
Review
Apex Trader Funding’s reputation as a no-nonsense prop trading firm precedes it, owing to its emphasis on low costs and transparent profit-sharing structures. While the platform’s asset offerings may not rival competitors, its advanced trading software and user-friendliness compensate.
The platform hosts multiple trading tools to help traders gain more insights into the market. This section also comes with multiple courses that teach users how to day trade and utilize trading tools.
| Feature | Details |
|---|---|
| Challenge | Challenge balance varies from $25,000 to $100,000, with profit requirements changing based on the starting capital. |
| Costs | Monthly fee varies depending on the challenge |
| Assets Available | Forex, CFD, indices, commodities, and stock. |
| Customer Support | Email, phone number, live chat support. |
| Trading Platforms | Ninja Trader, R Trader, Rithmic, Tradovate, TradingView |
Uprofit
Uprofit offers a transparent profit-sharing model and a streamlined approach to prop trading. The low-cost structure and simplified sign-up process make it accessible to traders of all experience levels. Uprofit is one of the top choices because of how easy it is to get started. The platform discloses its risk management requirements and challenges beforehand.
Review
Uprofit is a fantastic platform for prop traders thanks to its ease of use. The website is easy to navigate, and the terms for utilizing their services are straightforward. Uprofit has 4 challenges ranging in profit targets and balance. There’s also a limited edition plan that lets you control $30,000 with profit targets of $1,500.
Uprofit only uses trusted and only the best trading software available. Traders can use the Ninja Trader, R | Trader, and R | Trader Pro. Also, their blog provides helpful information about trading and other important aspects of the market.
| Feature | Details |
|---|---|
| Challenge | Challenge balance varies from $9,000 to $200,000, with profit requirements changing based on the starting capital. |
| Costs | Challenge fee |
| Assets Available | Forex, CFD, indices, commodities, and stock. |
| Customer Support | Email, phone number, live chat support. |
| Trading Platforms | Ninja Trader, R Trader, R Trader Pro |
Earn2Trade
Earn2Trade is an established prop trading firm with over 7 years of experience. They have accumulated over 1900 reviews and earned a 4.7 trust score. Also, in 2023 alone, they have funded over 700 accounts. Let’s look at what this platform has to offer.
Review
Earn2Trade’s strength is its robust educational content, designed to equip traders with the skills and insights necessary for success. The platform offers diverse educational material, including tutorials, a beginner crash course, and a blog.
To start with Earn2Trade, you’ll need to undergo an evaluation to test your trading skills. This means making a profit with the given funds in a simulated environment. Afterward, traders can upgrade their accounts by hitting profit targets. At the final stage, traders can access up to $400,000 in capital with a drawdown fixed to $380,000.
The Earn2Trade community is great and will assist with an inquiry in the help section. However, if you need more help, live chat is available for quick answers.
| Feature | Details |
|---|---|
| Challenge | Challenge balance varies from $25,000 to $400,000, with profit requirements changing based on the starting capital. |
| Costs | Challenge fee |
| Assets Available | Forex, CFD, indices, commodities, and stock. |
| Customer Support | Email and live chat support. |
| Trading Platforms | Ninja Trader, R Trader Pro, Finamark, MT4, MT5, C Trader |
The Funded Trader
The Funded Trader differentiates itself with a knights and dragons aesthetic, going for a gamer vibe. Founded on the principles of transparency and fairness, The Funded Trader offers a structured evaluation process and competitive profit-sharing arrangements. Its commitment to providing traders with tools and resources shows its dedication to being an all-in-one platform.
Review
The Funded Trader’s appeal is its comprehensive approach to prop trading, offering a well-defined pathway to funding and profitability. During the evaluation process, the trader’s skills and risk management abilities are put to the test. Successful traders gain access to funded accounts and can enjoy the benefits of sharing profits.
Moreover, The Funded Trader prioritizes support, offering email assistance and live chat. Unfortunately, they do not have a phone helpline, but these options are more than enough. While the platform’s asset offerings are focused primarily on forex, commodities, and indices, other options like crypto are available.
The platform features several challenges that differ in target goals and risk tolerance. Therefore, traders of all experiences are welcome as there are beginner-friendly challenges. After completing all phases of the challenge, traders will have access to the firm’s capital.
| Feature | Details |
|---|---|
| Challenge | Challenge balance varies from $5,000 to $400,000, with profit requirements changing based on the starting capital. |
| Costs | Challenge fee and commission fee |
| Assets Available | Forex, indices, commodities, stock, and crypto. |
| Customer Support | Email, live chat support. |
| Trading Platforms | C Trader, DX Trade |
5%ers
5%ers is a great prop trading platform for beginners and experts due to the multiple programs available. Its name suggests it only funds the top 5% of traders. It also has all the features a prop trader requires, like educational content and trading resources.
Review
Traders at 5%ers have the option to undergo an evaluation process, scrutinizing their trading abilities and consistency. Successful candidates earn the privilege of accessing funded accounts and benefiting from competitive profit-sharing arrangements. Top performers can qualify to trade up to $4,000,000.
This prop trading firm is one of the best for trading resources as it provides several sections filled with information. There are webinars that host live events, economic calendars, trading courses, and a forex blog. These features offer insights into the market and help traders make more educated decisions.
Moreover, the multiple challenges available provide options to traders. Those with small budgets can utilize the bootcamp, while savvy traders can begin the hyper-growth or high-stakes program.
| Feature | Details |
|---|---|
| Challenge | Challenge balance varies from $5,000 to $400,000, with profit requirements changing based on the starting capital. |
| Costs | Challenge fee and commission fee |
| Assets Available | Forex, indices, commodities, stock, and crypto. |
| Customer Support | Email, live chat support. |
| Trading Platforms | MT5 |
Leeloo Trading
Leeloo Trading offers a range of features designed to empower traders at every stage of their journey. From its flexible account options to its comprehensive support. Traders looking for a sophisticated platform may find Leeloo Trading the ideal choice.
Review
Leeloo Trading appeals to traders thanks to its variety of account options, catering to traders with different preferences and objectives. Users can go for a foundation account or use a bundle account if they require more funds. Entry accounts are also available that require little initial investment and let you trade from $25,000.
The resource section contains valuable trader tutorials where you can enhance your trading skills. The economic calendar helps prepare for upcoming events and set positions accordingly. Meanwhile, the Leeloo store offers apps, services, and add-ons to improve your trading experience.
| Feature | Details |
|---|---|
| Challenge | Challenge balance varies from $25,000 to $250,000, with profit requirements changing based on the starting capital. |
| Costs | Challenge fee and data fees |
| Assets Available | Forex, indices, commodities, stock, and crypto. |
| Customer Support | Email, live chat support. |
| Trading Platforms | NinjaTrader 7, NinjaTrader 8, Rithmic Pro |
TopStepTrader
TopStepTrader stands out as a well-designed prop trading firm that makes it easy to find essential features. The brand offers a clear method for securing funds and becoming a trader with the firm. Let’s see what else this prop trading firm has to offer.
Review
The trading combine is an experimental learning and evaluation program for futures traders. It allows traders to grow and test their skills in simulated markets and earn funding upon achieving certain trading objectives. However, if you have little trading knowledge, TopStepTrader offers free coaching, which you can find on the main website. This section contains group coaching, a discord community, and a live show going over markets.
In addition, the blog section covers recent developments and has helpful information that can assist with trading. In the resources tab, you can find success stories of other traders, which can provide motivation. It also shows that TopStepTrader is legitimate and trading through them is a valid career path.
| Feature | Details |
|---|---|
| Challenge | Challenge balance varies from $25,000 to $250,000, with profit requirements changing based on the starting capital. |
| Costs | Activation fee and data fees |
| Assets Available | Forex, indices, commodities, and stock. |
| Customer Support | Email, live chat, Discord server, and help center. |
| Trading Platforms | TSTrader, Ninja Trader, TradingView, Bookmap X-ray, CTS, DayTradr, InvestorRT, MotiveWave, MultiCharts, R|Trader Pro, Trade Navigator, Volfix.net |
Instantfunding.io
Instantfunding.io is a leading UK-based prop trading firm partnered with ThinkMarkets. This platform has won awards for trading models and is well-suited for traders with various experience levels. It also doesn’t have time limits or minimum trading days. Instantfunding.io is ideal for those looking to trade with extra capital instantly without going through the evaluation process.
Review
Instantfunding.io appeal is its ability to provide firm capital to traders instantly. Traders can skip the lengthy evaluation process and start trading without delay. The platform offers 3 types of programs: instant funding, one-phase, and two-phase. The amount of money you are willing to invest determines your overall account size.
Furthermore, the platform has a dedicated section reviewing the trading rules. It covers prohibited strategies, payout information, and how long you can be inactive. Also, the FAQ section is in-depth and will likely cover any questions you may have. However, if you need extra assistance, Instantfunding.io offers live chat 24/7 and email support.
| Feature | Details |
|---|---|
| Challenge | Challenge balance varies from $1,250 to $200,000, with profit requirements changing based on the starting capital. |
| Costs | Challenge fee |
| Assets Available | Forex, indices, commodities, and stock. |
| Customer Support | Email, live chat, and FAQs. |
| Trading Platforms | MT4, MT5 |
Types of Prop Firms
When considering prop trading firms, traders encounter various types, each catering to specific trading instruments and strategies. Here are the main types of prop firms categorized by the investing instruments they specialize in:
- Forex Prop Firms: Forex prop firms specialize in trading currency pairs in the foreign exchange market. Traders in these firms focus on analyzing currency trends and fluctuations, executing trades based on macroeconomic factors, technical analysis, and geopolitical events influencing currency markets.
- Futures Prop Firms: Futures prop firms concentrate on trading futures contracts, which are agreements to buy or sell assets at a predetermined price on a specific future date. Traders within these firms trade various assets with futures contracts, such as commodities, indices, and currencies.
- CFD Prop Firms: Contract for Difference (CFD) prop firms allow traders to speculate on the price movements of various financial instruments without owning the underlying asset. Investors can leverage short and long positions to profit from price fluctuations in different markets.
- Equity Prop Firms: These firms primarily focus on trading stocks and equity-related instruments. Traders within these firms trade qualities, options, and other derivatives, aiming to capitalize on individual stocks or broader market indices.
How to Sign Up
Signing up with a prop trading firm is a straightforward process, but may vary slightly depending on the firm’s requirements. Here’s a general guide on how to sign up with a prop trading firm.
- Research and Choose a Firm: Start by researching and comparing different prop trading firms to find the one that suits your trading needs. We’ve gone through the top 10 options you can sort through.
- Sign-Up: Begin by clicking the sign-up button, redirecting you to a page to fill out your information. Complete the forms and submit your details.
- Email: After completing the sign-up application, you’ll receive an email with your username and password. Press the login button in the email to take you to the login page, and use the credentials to access your account.
- Choose Your Challenge: Next, follow the steps to select your challenge, the types of assets you want to trade, and which trading software you’ll use.
- Fund Your Account: Finally, fund your account by choosing a challenge and going through the payment process. Now, you can access all the platform’s features and begin trading.
How to Pay Out Profit
Once you’ve successfully traded and generated profits within a prop trading firm, you may be wondering how to withdraw your earnings. Here’s a step-by-step guide on how to cash out profits.
- Check Profit Threshold: Before initiating a payout, ensure you’ve met the profit threshold specified by the prop trading firm. Most firms have minimum profit targets or account milestones that traders must reach before they’re eligible to withdraw profits.
- Review Payout Options: Prop trading firms offer multiple withdrawal methods to choose from. Common methods include bank wire transfers, payment processors, and cryptocurrency. Review the available options and select the one that’s ideal for you.
- Submit Withdrawal Request: After choosing your preferred withdrawal method, follow the instructions to submit the payout request. You may have to provide payment details of where you are sending money, withdrawal amount, and other information the prop firm needs.
Tips to Succeed Your Prop Firm Challenge
Successfully completing a prop firm challenge requires skill, discipline, and strategic planning. Here are a few tips to help you finish your trading challenge.
- Understand the Rules: Familiarize yourself with the challenge rules and guidelines provided by the prop firm. Pay attention to profit targets and any other requirements you need to meet to pass the challenge.
- Use a Trading Plan: Create a detailed trading plan outlining your strategy, entry and exit criteria, risk management rules, and position sizing. Stick to your plan and avoid impulsive or emotional trading decisions.
- Start Small: Being with a challenge that doesn’t require significant capital to get started so you can learn the basics without overcommitting. This lets you learn while not risking financial security. Also, start with small traded sizes and gradually increase your volume as you gain confidence and consistently win trades.
- Manage Risk Effectively: Implement strict risk management techniques, such as setting stop-loss orders, diversifying trades, and limiting the size of your positions relative to your account size. Avoid overleveraging and risking more than you can afford to lose.
- Keep Learning: Continuously educate yourself about trading strategies, market analysis techniques, and industry developments. Stay updated on market news and trends that may impact your trading decisions.
Conclusion: Selecting the right Prop Trading firm is crucial
To summarize, selecting the right prop trading firm is a crucial decision for traders looking to maximize their profits and leverage firm capital effectively. This article comprehensively compares the top 10 trading firms, covering everything from features and costs to available assets and customer support services.
Whether you’re a novice or an experienced trader, our guide aims to simplify the selection process, enabling you to choose a platform that aligns with your trading goals. By reviewing each firm’s key features, strengths, and drawbacks, you can make an informed decision about which prop trading firm is right for you.
Frequently asked questions on Prop Trading firms:
What Are the Benefits of Trading With a Prop Trading Firm?
Trading with a prop trading firm offers traders significantly more capital than they would have themselves. Also, you gain access to educational resources, data, and trading tools.
What Types of Assets Can I Trade With Prop Trading Firms?
Prop trading firms offer access to a wide range of assets, such as stocks, forex, commodities, indices, and crypto. Some platforms will provide futures and CFDs for trading.
How Do I Choose the Right Prop Trading Firm for Me?
Consider the firm’s reputation, trading capital, profit-sharing terms, available assets, and educational content. Decide what features you require and pick an option that best suits your needs.
What Is the Evaluation Process Like at Prop Trading Firms?
Usually, traders must complete a challenge to advance or complete the evaluation process. This requires trading a specific amount of capital and hitting trading goals. Some challenges have time limits or restrictions, so choose a program you can complete.
What Happens if I Pass the Evaluation at a Prop Trading Firm?
Successful traders gain access to funded accounts and are eligible for profit-sharing based on their trading performance. After hitting more trading goals, the funded account capital may increase.