When you're ready to transition from self-funded trading to joining a prop trading firm, selecting the right one to meet your trading needs is crucial. To simplify your decision-making process, we've done the hard work for you and reviewed the best prop trading firms.
In this article we'll give you an overview of some of the most reputable prop firms, considering essential factors like funding speed, evaluation processes, transparent pricing, profit sharing, trading rules and more.
| Best For | Futures Traders | Fast Payouts for Futures Traders | Unlimited Scaling |
| Rating | 5 | 5 | 4.5 |
| Read Review | Apex Trader Funding Review | MyFundedFutures Review | BrightFunded Review |
| Tradeable Assets | Futures | Futures | Forex, Commodities, Indices, Crypto |
| Profit Splits | 100% of the first $25,000 and 90% thereafter | 90% | Up to 100% |
| Supports US Traders? | Yes | Yes | Yes |
| Daily Drawdowns | No max daily drawdown | 3% | 5% |
| Commissions | - | - | - |
| Trading Platform | - | - | - |
| Account Size | 25k, 50k, 100k, 200k, 300k | 50k, 100k | 5k, 10k, 25k, 50k, 100k, 200k |
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Best Prop Trading Firms
Part of your success with prop firm trading depends on choosing firms with low fees, diverse market access, strong trading platforms, reasonable leverage, and fair profit-sharing models. Our top picks meet these criteria.
Best Futures Prop Firm: Apex Trader Funding
- Best For:Futures TradersVIEW PROS & CONS:securely through Apex Trader Funding's website
With Apex Trader Funding, you'll trade mini or micro contracts during the evaluation period, and once the evaluation has been passed, you'll move to a funded account. You'll receive 100% of your first $25,000 earned per account, with up to 20 accounts active at once and 90% after that, meaning this platform pays the most of any futures prop trading account. You can use Rithmic or Tradovate and can choose from one of several different accounts that will come with a particular number of contracts, a profit goal, a trailing threshold, and more.
Why We Picked It:
- High Capital: Apex Funded accounts have funding ranging from $25,000 to $300,000, making them a great option for more advanced traders.
- Relaxed Trading Rules: Apex supports various trading styles with flexible rules. You can trade during exchange-posted holiday hours, including holidays and news events, from 6 PM ET to 4:59 PM ET.
- Trading Platforms: Rithmic, Tradovate and WealthCharts are known for user-friendly interfaces and group trade features. Other platforms include NinjaTrader and TradingView. All in all, Apex offers 14 trading platforms.
- Up to 20 Live Accounts: Trade up to 20 accounts simultaneously with a single click, each supported by Tradovate's unique trading platform and data connection separate from Rithmic.
- Educational Resources: Free 30-day education course and one-on-one coaching, accessible across devices, including mobile.
- Trading Strategies: Utilize tools like Tick Strike for market flow analysis, Markers Plus for automation, ChartPros for simplified trading, and Ninja Suites for accelerated execution.
Profit Split:
- 100% of the first $25,000 and 90% thereafter
What You Can Trade:
- Futures
Best for Fast Payouts for Futures Traders: MyFundedFutures
- Best For:Fast Payouts for Futures TradersVIEW PROS & CONS:securely through MyFundedFutures's website
My Funded Futures offers a straightforward one-step evaluation process, access to a wealth of trading resources, and expert guidance. Trade on a variety of platforms and earn the opportunity to manage up to $600,000 in capital, with the first $10,000 in profits entirely yours. Profit splits are typically set at 90%, and you'll gain access to esteemed exchanges like CME, CBOT, COMEX, or NYMEX through platforms like Tradovate, NinjaTrader, and TradingView.
Why We Picked It:
- Flexible Payout Frequency: The Starter Plan offers payouts after 5 winning days, the Expert Plan pays out every 14 days when you're above the buffer, and the Milestone Plan provides flexible payout options.
- No Daily Loss Limits: Eliminating daily loss limits and implementing a maximum trailing End of Day (EOD) drawdown of 4% for $50,000 accounts and 3% for $100,000 and $150,000 accounts.
- Various Account Options: Offers Starter and Expert plans with varying account sizes ($50K, $100K, $150K)
- No Minimum Trading Days: No minimum trading day requirement allows traders to pass the evaluation efficiently, and there are no maximum trading day limits.
- High Quality Trading Platforms: The platform supports Volbook, DxFeed, Tradovate, Quantower, Atas Orderflow Trading, NinjaTrader, Volumetrica Trading, Volsys, and TradingView.
Profit Split:
- 100% of profits for the first $10,000 and 90% thereafter
What You Can Trade:
- Futures
Best for Multi Asset (Crypto, Forex, Indices, Metals) Traders: BrightFunded
- Best For:Unlimited ScalingVIEW PROS & CONS:securely through BrightFunded's website
BrightFunded was established in 2023, allowing traders to manage capital up to $400,000. The firm provides a structured evaluation process, including a two-phase challenge, to assess and fund proficient traders. Traders can access various financial instruments through cTrader and BrightFunded's proprietary trading platform, available on desktop and mobile devices. The firm emphasizes trader development with features like an unlimited scaling plan and the Trade2Earn loyalty program, which rewards active traders with benefits like free evaluations and enhanced profit splits.
Why We Picked It:
- Multi Asset Trading: Trade over 150+ instruments, including 40+ crypto pairs, forex pairs, metals, and indices, with the tight spreads and favorable conditions.
- Expert Leadership Team: Guided by renowned advisors such as Lex Hoogduin (former European Central Bank) and Willem Sprenkeler (former Optiver), BrightFunded excels in regulation, risk management, and compliance. Spearheaded by CEO Jelle Dijkstra, the firm is on a relentless mission to build the ultimate trading ecosystem.
- Weekly Payouts Available: At BrightFunded, weekly payouts are available, giving funded traders the opportunity to receive their profits every 7 days.
- Fast Payouts: The average payout processing time is just 4 hours from the moment a payout request is made.
- Unlimited Scaling Plan: BrightFunded offers an unlimited scaling plan, allowing traders to grow their funded accounts without limits and enjoy up to a 100% profit split.
- Trade2Earn Loyalty Program: This program rewards traders for their activity, offering perks like free evaluations, discounts on challenge fees, and enhanced profit splits, thereby incentivizing consistent trading.
- Crypto Trader Friendly: Unlike many other prop firms, BrightFunded offers an extensive range of 40+ Crypto Pairs for trading.
Profit Split:
- Up to 100%
What You Can Trade:
- Forex, commodities, indices and cryptocurrencies
Best for Experienced Traders: FXIFY
FXIFY is a proprietary trading firm that offers access to up to $400,000 for those who pass the assessment. With profit shares as high as 90%, you can scale your account up to $4 million. Trading is available on MetaTrader 4 (MT4) or MetaTrader 5 (MT5) and assorted trading platforms through the firm’s partnership with FXPIG. FXIFY offers instant payouts, no consistency rules, unlimited trading days, and a 125% refund on your assessment fee with your first payouts.
Why We Picked It:
- Commission-Free Trading: Commission-free trading on a diverse range of products, including forex, stock indices, precious metals like gold and silver and more.
- Spreads and Leverage: Tight spreads and no trading restrictions, along with customizable leverage options.
- Automated Trading: Supports automated strategies and Expert Advisors (EAs), provided they are proprietary strategies developed by the trader.
- Instant Payouts: Convenience of requesting an initial payout after your first profitable trade, a feature not commonly found in other prop firms where traders typically wait 2-4 weeks for payouts.
- Robust Trading Dashboard: Comprehensive dashboard offering real-time metrics and analytics, including max daily and total drawdowns.
- Free Trading Tools and Resources: Access Trading Central's tools and resources, such as the economic calendar, featured ideas, and technical insights, providing valuable market analysis and research resources at no cost.
Profit Split:
- Up to 90%
What You Can Trade:
- Forex, futures, indices, commodities, stocks and cryptocurrency
Best Stock Trading Prop Firm: Trade the Pool
- Best For:Stock TradersVIEW PROS & CONS:securely through Trade The Pool's website
Established in 2022, Trade the Pool prioritizes providing you with robust risk management tools and caters to a diverse range of trading styles, including day trading, swing trading, and professional trading needs. With support for trading stocks and CFDs, the platform welcomes traders of varying experience levels, offering guidance and assistance to inexperienced traders. They offer access to over 12,000 stocks and ETFs, and the platform aims to diversify trading options and provide educational resources to enhance users' trading knowledge.
Why We Picked It:
- Trade the Pool Pump: Designed to boost trader confidence, the pump increases your DL and max exposure after five consecutive winning days. The percentage increase varies by package: 5% for Super Buying, 8% for Extra Buying, and 15% for Ultimate Buying.
- Trade the Pool Dump: Conversely, the dump reduces your DL after five consecutive losing days, triggered after a pump. For instance, after five days of losses with at least 2XDL, your DL steps back to its initial value.
- Comprehensive Risk Management: Traders manage maximum daily loss (DL), Risk Per Day (RPD), and max drawdown (DD).
- Transparent Profit Target Calculation: Three service packages offer 45-day trade period and access to premium resources like Trade Ideas or TrendSpider.
Profit Split:
- Up to 80%
What You Can Trade:
- Stocks
Best for Forex, Indices and Metal Traders: The 5%ers
- Best For:Experienced and Beginner Forex, Indices, and Metal TradersVIEW PROS & CONS:securely through The5ers's website
The 5%ers platform lets you trade forex, metals, and indices with minimal barriers to entry. It supports MT5 trading and offers profit splits of up to 100%, along with exclusive resources and salary offers on select higher-stakes programs. The 5%ers offers a demo account for as little as $95, allowing you to enjoy instant trading access after passing the evaluation, giving you the freedom to develop your trading strategies without subscription fees.
Why We Picked It:
- Trading Platforms: Licensed MetaTrader 5 platform across PC, web, and mobile versions, offering unique features for user convenience.
- Global Accessibility: Accepts applications from traders worldwide, including United States citizens, distinguishing itself as a prop trading firm rather than a broker.
- Clear Profit Targets: Regardless of the chosen funding program, The5%ers clearly outlines profit requirements and order restrictions, enabling traders to align strategies with program specifications before committing.
- Abundance of Resources: Suite of tools to enhance trading performance. The community feature facilitates connections with successful traders for valuable insights and tips.
Profit Split:
- Up to 100%
What You Can Trade:
- Forex, indices and metals
Best for Global Day Traders: FundedNext
FundedNext provides a flexible evaluation structure, diverse trading assets, and payout incentives that reward consistency and profitability. With the option to choose between Evaluation and Express funding models, you can earn up to a 90% profit split and scale your accounts to $4 million. The trading platforms include both MetaTrader 4 and 5, cTrader and Match Trader.
Why We Picked It:
- Profit Splits During Evaluation: In the Evaluation Model, traders keep up to 15% profit share during their evaluation.
- Two Funding Models: Choose from the Evaluation Model or the Express Model (instant funding with bi-weekly payouts).
- Scaling Plan: Offers a scaling plan that increases your account size based on performance, allowing capital growth up to $4 million.
- Payout Frequency: Payouts are available every 14 days, and Express model traders can request withdrawals after the first 14 days, then bi-weekly.
- Global Broker Options: Traders can select between Eightcap (ASIC-regulated) and GBE Brokers (CySEC-regulated), offering flexibility and regional preference.
Profit Split:
- Up to 90% after funded status is achieved (with 15% profit share during evaluation in some models)
What You Can Trade:
- Forex, commodities, indices and crypto
Best for Multi-Asset Traders: The Trading Pit
- Best For:Multi-Asset TradersVIEW PROS & CONS:securely through The Trading Pit's website
The Trading Pit offers a structured evaluation process, access to advanced trading platforms and a clear path for scaling capital. You can engage in CFD and futures markets, with account sizes ranging from $5,000 to $250,000. Profit splits start at 50% and can scale up to 80% based on performance and account type. The firm supports platforms like MetaTrader 4 and 5, TradingView, Quantower and Rithmic.
Why We Picked It:
- Flexible Evaluation Options: Choose between one-step and two-step challenges, accommodating different experience levels and preferences.
- Scaling Opportunities: Successful traders can scale their accounts up to $5 million, providing significant growth potential.
- Educational Resources: The Trading Pit provides a wealth of educational materials, including webinars, eBooks, and podcasts, supporting trader development.
- Platform Variety: With support for multiple trading platforms, you can select the tools that best fit their trading style.
- Transparency and Recognition: Awarded the "Most Transparent Prop Trading Firm" by Forex Prop Reviews in 2023, The Trading Pit emphasizes clear communication and integrity in its operations.
Profit Split:
- Starts at 50% and can increase up to 80% based on performance and account type
What You Can Trade:
- Forex, futures, indices, commodities, stocks and crypto
Best for Unlimited Balance Reset: OneUp Trader
OneUp Trader offers a simple one-step evaluation process, access to a variety of trading platforms, and a generous profit-sharing model. You can manage accounts ranging from $25,000 to $250,000, with the opportunity to keep 100% of the first $10,000 in profits and 90% thereafter. The firm supports over 20 trading platforms, including NinjaTrader, Sierra Chart, Rithmic and Quantower.
Why We Picked It:
- Simple Evaluation Process: A straightforward one-step evaluation without daily loss limits, allowing traders to focus on achieving profit targets without unnecessary constraints.
- Express Funding Option: If you're a returning trader, the Express Funding program enables account funding in as little as five trading days.
- No Hidden Fees: OneUp Trader covers all data fees and provides a free NinjaTrader license, eliminating common costs associated with trading evaluations.
- Flexible Account Sizes: Offers a range of account sizes ($25K, $50K, $100K, $150K, $250K) to suit different trading styles and risk appetites.
- Comprehensive Platform Support: Access to over 20 trading platforms, ensuring traders can use tools they are comfortable with.
Profit Split:
- 100% of the first $10,000 in profits and 90% thereafter
What You Can Trade:
- Futures
How to Choose a Prop Trading Firm
Choosing a prop trading firm is crucial for aspiring traders. Focus on factors like reputation, trading strategies, support and risk management.
Company Reputation
A prop firm’s reputation impacts your trading experience. Look for firms with a strong track record and positive feedback from traders who have used the platform. Compliance with financial regulations and effective handling of issues should also contribute to a firm's credibility.
Fees and Profit Sharing
Understand the fee structure, including any one-time fees and refundable deposits. Pay attention to the profit-sharing terms to ensure you get the most return on your investments.
Withdrawal Policies
Check the firm’s guidelines on withdrawal limits and processing times. Make sure they offer convenient withdrawal methods and understand any restrictions on the frequency of withdrawals.
Trading Tools and Flexibility
Access to advanced trading tools is crucial to make sure you are trading using the tools your familiar with. If you use MetaTrader 4 already, make sure the firm offers it. Ensure the tools meet your needs and offer flexibility, so that you can trade from various devices.
Customer Support and Community
Reliable customer support is essential. Look for firms with dedicated support channels like email, phone, or live chat. Additionally, a supportive trading community can provide valuable insights and help you learn from other traders.
Pros and Cons of Prop Trading
Prop trading is highly advantageous to traders who want to increase profits. However, it can also have some drawbacks. Here are some pros and cons of becoming a prop trader.
Pros
- Excellent support: Due to the nature of the operation, proprietary trading firms often comprise a closely-knitted community of people. The implication is that traders are offered quick support, and issues are resolved timely, unlike retail brokerages.
- Liquidity through open order: If you mainly trade in open positions, you're better off as a prop trader. The reason is that most prop firms allow you to open multiple orders simultaneously.
- Market accessibility for undercapitalized traders: Prop trading makes it easy for undercapitalized traders with requisite trading expertise to access and profit from the financial market. Proprietary accounts might be ideal if you've less than $10,000 in investment capital. The reason is that your buying power will trump anything you can get as a retail client.
- Streamline short selling: For effective short selling, you first need to locate shares that are good candidates for shorting. This process might be challenging as a retail trader, especially as some equities may be on the threshold or hard to borrow and so unavailable for shorting. With prop trading, you can access a long list of shorting inventories.
Cons
- Potential for loss of capital: Compared to retail brokers, prop trading firms are highly under-regulated. While this means fewer operating costs, there's an inherent risk of losing your capital, especially if the principals are fraudsters. You must therefore do due diligence and invest only what you can lose.
- High fees: Most prop firms require you to pay for the modeling and trading software, especially if you trade remotely. The monthly fee for most sophisticated trading software may be as high as $300. When you factor in other costs that may arise, you may have no alternative but to reconsider, especially on comparing retail trading fees.
- Mostly for day trading: Prop trading leverage mainly applies in day trading. You may likely get different leverage for overnight positions than day trading. The implication is that, to a greater extent, prop trading is essentially day trading. Most prop firms do not permit overnight trading.
- Intellectual theft: If your strategy consistently delivers profitability, the prop firm may look for a way to decode your approach. For instance, they can piggyback your method and teach them to computers via machine learning.
Frequently Asked Questions
Do prop firms really pay out?
Yes, some prop firms do pay out profits to their traders. However, the terms and conditions vary between different firms, so it’s important to do thorough research and understand the firm’s specific payout structure and policies before getting involved.
Which prop firm is better than FTMO?
It depends on your preferences and goals, along with what you are looking for from trading conditions, funding options, support services and overall reputation. Apex Trader Funding and FXIFY are two great alternatives to FTMO. If you are in the US, note that FTMO has stopped accepting US prop traders.
How much do prop trading firms make?
Prop trading firms make between 10% to 50% of each trader’s profits depending on the split profit.
How do prop trading firms make money?
Prop trading firms make money by taking a percentage share of each trader’s profit and account opening charges. They may also charge traders for training and expert coaching.
Who should try prop trading?
Prop trading can be a good idea for anyone who understands how to invest but doesn’t have the backing they need. Prop trading may also be a good idea for those who want to learn as they trade, but you must find a platform that allows you to learn and grow.
About Chika Uchendu
Chika Uchendu is an investing writer and investment platform analyst passionate about helping people learn more about managing their finances, making informed investment decisions, and navigating the complex landscape of investment platforms to find the best options for their financial goals and needs. He has over 8 years of experience writing compelling articles for various reputable publishers across diverse topics. When he’s not writing content, he’s wrangling and analyzing data to help businesses make informed decisions.
