If you are looking to enhance your trading career, prop firms are the answer for you. Below we have outlined all you need to know about the best prop firms in the game.
| Name | Est. | Price Starting from | Trustpilot rating | Program offers | Scale | Payout |
| The5ers | 2016 | $39 | 4.8 | Bootcamp, 2-step, 3-step | $4M | 100% |
| FTMO | 2016 | €155 ($170) | 4.9 | 2-step | $2M | 90% |
| The Funded Trader | 2021 | $65 | 4.5 | 1-step, 2-step (x3) | $1.5M | 90% |
| E8 Funding | 2021 | $138 | 4.7 | 2-step (x2), 3-step | $1M | 80% |
| True Forex Funds | 2021 | €89 ($99) | 4.7 | 2-step | $1M | 80% |
| Trade The Pool | 2023 | $97 | 4.3 | Mini, Super, Extra, Ultimate | $260,000 (buying power) | 80% |
What Is A Prop Firm?
A prop firm is a company that funds traders. Traders will need to complete an evaluation to prove their skills, and if they succeed, the prop firm will give them a funded account and share with them the profits. The big advantages besides the funds are the leverage, the community, and educational resources.
For more information, check out our article What is a Prop Firm
Roundup Of The Best Prop Firms For 2023
Here is the list of the best prop firms that provide traders with an opportunity to learn, grow, and profit from the market dynamics, while providing the necessary support infrastructure. The best prop firms are renowned for their support, profit-share, and comprehensive educational programs. These factors, combined with a supportive and collaborative trading environment, attract talented traders and foster success. Now, let’s move on to the list of the best prop firms.
1.The5ers
The5ers, est. in 2016 by experienced traders, is one of the leading reputable prop firms in the industry. They have unique programs for all types of traders. They offer the fastest scaling plan in the industry and provide exclusive benefits such as bonuses, salaries, quality resources for our traders, and unlimited time on all programs.
Pros
- All the programs are unlimited time, and the profit share is up to 100%
- The company allows trading the news, overnight and over-the-weekend.
- The firm allows you to use any trading strategy and EAs, whether swing or scalping.
- They offer the fastest scaling plan in the industry up to $4M
- They offer in-house, highly educational resources
Cons
- You have 14 days of inactivity, so make sure to place a trade (if you think you won’t be able to trade, you can freeze your account)
2. FTMO
FTMO est in 2016, is one of the most reputative prop firms. They are known for their 2-step challenge and their support.
Pros
- This firm offers a free trial account with a condensed version of the FTMO Challenge, providing identical trading conditions.
- The FTMO Account Swing allows for holding positions over the weekend and trading freely during macroeconomic releases without limitations.
- FTMO allows you to use expert advisors when trading.
- 24/7 support
Cons
- The firm has maximum funding of just $400,000.
3. The Funded Trader
The Funded Trader collaborates with the broker Eightcap. You can trade various assets such as currencies, indices, gold, and commodities. However, cryptocurrencies are exclusively accessible during the challenges.
Pros
- The Funded Trader allows you to use expert advisors when trading.
- The firm has no restrictions on news trading.
Cons
- Eightcap is known for its high slippage, so be aware of it
4. E8 Funding
The E8 Funding proprietary trading company has its registration in the United States and the Czech Republic. It collaborates with traders from various countries, operating without any regional limitations. They provide a large variety of trading accounts, which are also expandable up to $1 million.
Pros
- After effectively managing your account for eight days, you can make your initial withdrawals.
- You can gradually raise your drawdown by 1% for each withdrawal, reaching a maximum of 12%.
- The company offers a profit split of up to 90%
Cons
- The company’s technical support team addresses inquiries via email exclusively, lacking a call center.
5. True Forex Fund
The True Forex Funds proprietary trader is another well-trusted prop firm, and you can trade with MT4 platform
Pros
- The company provides five plans with varying initial fees, balances, and permissible drawdown levels.
- You can hold positions overnight and during the weekends.
- The firm offers the MT4 and MT5 platforms which are very common among traders.
Cons
- You can trade only currency pairs.
- The firm only offers packages of up to 200,000.
6. Trade The Pool
Trade The Pool is the best stock trading prop firm in the industry today and provides a high buying power for stock traders. You can trade stocks and ETFs, and they have great support
Pros
- This firm has an active customer support system ready to serve.
- The firm offers a demo to try their packages before buying them.
- You can trade more than 12,000 stocks & ETFs
- You can short any penny stock
- You can get x150 buying power
Cons
- You can only trade US stocks
What A Good Prop Firm Should Offer You
A good prop firm should offer you the following:
- A good trading platform
- Fast scaling plan
- Professional Community
- Sufficient trading capital
- Fast and efficient customer support
- Access to educational material such as webinars, live trading rooms, and workshops.
How To Choose The Best Prop Firm For You
Here are some considerations to remember while choosing a prop firm that is best for you.
Profit Splits
A good prop firm should have favorable profit splits. This split determines what you’ll earn trading for them.
Scaling
A good prop firm should have adequate resources, opportunities, and support for when you grow as a trader.
The Prop Firm’s Reputation
A prop firm should have a good reputation within the trading community and on Trustpilot. This good reputation shows the prop firm is legitimate and serves its traders well.
Price
You should always compare prices, but remember don’t only go after cheap prices
Drawdown
Drawdown is the maximum loss you make before your next peak. A good prop firm should have measures to help you manage drawdowns effectively.
Time Limit
A good prop firm provides enough time to reach the set targets. This time allows you to trade without the pressure of being late to meet set targets.
Holding Trades Overnight And The Weekend
A good prop firm should allow you to hold trades overnight and on the weekends. This liberal trading rule approach enables you to trade comfortably without many restrictions.
Customer Service
A good prop firm should have active customer support that uses various communication media to assist with any issues.
In-House Education
A good prop firm should offer a wide range of educational resources, such as trading guides, videos, webinars, and articles, to deepen your knowledge and understanding of the markets.
Best Prop Firm Conclusion
A legitimate firm should make you feel like you’re on the same team, working towards the same objectives. Ultimately, successful trading on the side of the trader should be the firm’s top priority. The aforementioned prop firms are all legitimate and professional and should help you achieve your trading goals.
Out of these, the firm that is right for you will have to do with your trading style, goals, and preferences. For more assistance in picking the right firm for you, check out our article 10 Questions To Ask Yourself Before Choosing A Prop Firm
