In this list of The Top 5 Forex Prop Trading Firms so far this year, we focus on companies that offer either a one or two step evaluation as part of their process. This list DOES NOT focus on companies that offer a monthly fee, or additional costs as part of their product offering.
We hope that this list of The Top 5 Forex Prop Trading Firms helps to save you time in making a more informed decision, should you choose to get funded by a prop trading firm.
Founded in July 2020, and funding thousands of traders since then, MyForexFunds has the best processes on offer that are structured to enable traders to get funded fairly and quickly. MyForexFunds offer profit targets of 8% in Phase One, 5% in Phase Two, with drawdown limits of 5% daily and 12% overall. On top of this, if you are approaching the end of your evaluation period, are in profit, have not breached any of their rules, but feel that you need more time to complete – you can ask for a free extension.
MyForexFunds, offers 3 types of evaluation programs (RAPID | EVALUATION | ACCELERATED). Each one appeals to the varying styles of traders, which demonstrates their flexibility in offering a solution that is broad and geared for your success.
Pros:
• Great Broker Spreads
• Fast Customer Support
• Innovative Trader Dashboard
• Best Prices For Evaluations
• Weekend Trading Allowed
• EA’s Allowed
Cons:
• Must trade at least 3 times per week
At MyForexFunds, you can expect to get excellent value for your investment with ongoing support as you grow your trading portfolios. Go to their website for more information on how you can get started.
Started in Mid 2021, The FundedTrader Program has literally roared its way into this forex prop firm space, with intent! Not only do they offer incredible and consistent value in terms of their product offering, but they have quickly established a reputation for building a community of traders who are treated as partners, and not just customers.
Since launch, they have achieved an industry leading 4.8/5.0 on Trust Pilot. This shows how transparent the company is in building their relationships with traders, and putting things right when problems are highlighted. It also shows how trustworthy they are with regards to how quickly they pay out withdrawals, and conduct their business overall.
Pros:
• Minimum Trading Days (5 days).
• Max Overall Loss (12%).
• Profit Target Phase One (8%)
• Profit Target Phase Two (4%)
• Weekend Trading Allowed
Cons:
• No EA’s Allowed
All in all, a solid investment choice in our opinion, and you can click on the link below to find out more.
FTMO is an innovative and dominant presence within the prop trading space.
Since 2003, FTMO has established a reputation for being fair but yet strict with its traders, before and after they have been funded.
With a Trust Pilot rating of 4.8/5.0, including close to 1500 reviews at the time of writing, there’s no wondering why this company has made it into our Top 5 List of Forex Prop Trading Firms in 2022.
Pros:
• Swing Trading Accounts
• Fast Payouts
• MT4, MT5, and Ctrader available
• No Commission on Withdrawals
Cons:
• Restrictions on News Trading
• Minimum Trading Days (10 days)
FTMO is a great place to start your prop trading experience. Click the link below to find out more about how you can get connected with their services.
The Prop Trading offers its traders a smart and safe way to trade, whilst rewarding them in an environment that has been built for their success.
This means that you can acquire funding up to 500,000 USD combined accounts, OR, you can choose to have unlimited accounts with a maximum limit of 200,000 USD each.
The Prop Trading operate on the MT5 platform for now, and if you haven’t used this platform before or just want to try out your strategy before taking one of their evaluations, be sure to check out their awesome FREE TRIAL.
On top of that, The Prop Trading offers its traders the ability to hold trades over the weekend and are certainly generous in terms of their evaluation period and profit targets.
Again the love for this company is echoed within the public domain – not the best Trust Pilot score to be fair, however, from our own experience in using their services, we have had no complaints at all.
Pros:
• FREE Trials Available
• Fast Payouts – Paypal Available
• No Minimum Trading Days
• No Commission on Withdrawals
• Weekend Trading Allowed
Cons:
• MT5 Only
• Max Lot Size Restriction When Funded
• No Holding Cryptos Over The Weekend
Don’t just take our word for it – Find Out More by clicking the button below.
Registered in Hungary, True Forex Funds is a relatively new company to the Forex Prop Trading space, that offers its traders up to $400,000 USD in funding.
True Forex Funds have a 2 step evaluation process that doesn’t have any minimum trading days, which means that you could be funded rather quickly, as long as you adhere to their rules.
What this company lacks in terms of an abundance of social media presence currently, clearly because they are new and still growing, they certainly make up for it in having one of the best minimum profit targets in the industry to date.
8% in Phase One, and 4% in Phase Two – coupled with a very responsive customer service team, AND Bi-Weekly payouts …. either via bank wire or crypto, certainly makes this True Forex Funds a prop trading firm to keep an eye on as they grow.
Again, this is a relatively new company, but a quick look at their Trust Pilot score of 4.3/5.0 backs up some of the many positive experiences that traders have had so far with them.
Pros:
• Bi-Weekly Payouts
• No Minimum Trading Days
• Low Profit Targets
Cons:
• Relatively New Company
Go ahead and give them a try – click the link below.
Established in 2016, Blueberry Markets, combines the power of excellent research tools, very tight spreads, and an assured reputation for delivering a service with highest integrity. Based in Australia and regulated by ASIC and SCB, Blueberry Markets provides an easy to register system, with equally fast payout options.
You can trade on either MT4 or MT5, and will expect to experience some of the lowest spreads seen within the marketplace.
Pros:
• Minimum $100usd deposit
• Modern and effective trading tools
• Lightning fast execution of trades
Cons:
• We would like to see an expansion of their assets.
We have maintained a few of our accounts with Blueberry markets since 2020, and are delighted with the true performance that their service offers. Check them out in the link below.
Established in 2010, Pepperstone is an Australian based broker that is regulated by ASIC, FCA, and many other regulatory boards. Whilst they spreads may not be the best with a 0.2 spread for EURUSD, they make up for this in their educational content which is provided free of charge within their members area. Pepperstone has won numerous awards for their trading service and is a broker held in high regard, and therefore is certainly worth checking out.
Pros:
• Reliable Broker
• Low Spreads.
• Established Educational Resource
Cons:
• Limited Demo Account Facility
Check them out in the link below.
Established in 2007, Ava Trade is a regulated broker that offers a wide range of assets that can be traded either on the Meta Trader 4, or Meta Trader 5, platforms. With a Trust Pilot review of 4.7/5.0 rating, it didn’t suprise us at all that Ava Trade featured so highly on our list of the Top 10 Forex Brokers for 2022. No matter what your trading style is, you will feel right at home at Ava Trade as they accommodate the needs of swing traders, and scalpers alike.
Deposits and Withdrawals are conducted in a fast and professional manner, with security being of the utmost importance. Ava Trade has differentiated itself from its competitors by prioritising the needs of traders in a way that is not distracting from the daily operation of your accounts.
Pros:
• Multi-lingual support
• Low Spreads.
• 1:400 leverage
Cons:
• Slow Customer Support
FxPro is a professional forex broker that was has been around since 2006, and provides some of the best forex trading tools that the industry has ever seen. These tools are certainly helpful in helping you make better trading decisions, and to add to this their customer reviews are exceptional, as noted on Trust Pilot rating of 4.3/5.0
At FxPro, you will discover that the company is fully regulated by multiple regulatory bodies globally, which gives you added peace of mind when depositing and trading vast sums of capital.
Traders can expect to be able to trade more than 70 plus assets across crypto, forex, indices, metals, and stocks. In addition to this, FxPro, offer accounts that can be opened from as little as $100usd.
Pros:
• Established broker with vast financial resources
• Variety of assets to trade
• Exceptional trading tools
Cons:
• Not many – check out the link below and see for yourself.
Saxo Bank might not be for the beginner trader, starting out with limited capital, as their minimum deposit is $10,000 usd. However, for those traders who have experience and a larger capital base, this is an excellent choice for long term stability. With leverage starting from 1:30, Saxo Bank more than exceeded our own expectations when we first discovered them in 2018.
Again, there is no hiding that Saxo Bank is tailored more for the “serious” trader and we are confident that you will be delighted with what they offer professional traders.
Pros:
• For Professional Traders
• Vast Community For Networking
• Global Reputation For Quality Service
Cons:
• 1:30 leverage
• Minium $10k usd deposit
We have used IC Markets for several years, and highly recommend that you click the button below to find out more.e
We deliver a service that you can rely on long term. Providing information and insight into ways that you can achieve consistent and safe trading processes, to sustain the growth of your Forex trading accounts.
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