In recent years, the prop firm industry has seen an influx of new startups. As a forex trader, one needs to have a huge amount of funds on hand to start trading. Since the profit generated from forex trading is very nominal, very often, people hesitate to earn a full time from trading.
Now, there are a lot of prop firms that offer funds to traders like you to start earning as a full-time trader. Each prop firm offers a variety of unique financial opportunities to its traders.
But the question is, Which Prop Firm Should You Trust?
We have been trading with multiple prop firms for the last few months. Based on our experience, we have curated a list of the top 5 prop trading firms for potential traders.
Let’s take a look at each of the top 5 prop firms’ basic features –
With a vision to empower retail traders around the world, FundedNext is spreading its wings to a global platform faster than expected. In the year 2022, FundedNext, a new prop trading firm, has launched, aiming to empower traders by sharing the most profit with a $4 million scale-up plan. The firm offers trading on various instruments—forex, indices, and commodities—with a meager commission and a narrow spread.
Trustpilot Review – 4.7
E8 Funding offers funds to the traders like any other prop firm in the industry. The firm is currently operating from two offices in the United States— Dallas, Texas, and Prague, Czech Republic. Within a few months of experience, this fairly new prop firm has established its name within the trading community.
Trustpilot Review: 4.8
My Forex Funds
My Forex Funds was founded in July of 2020 with the goal of becoming the leading prop firm in the industry. They offer 3 types of accounts for all sorts of traders, ranging from beginners to professionals. Nevertheless, looking at their Trustpilot reviews, most seemed fake, and that is why they are not in our top ranking.
Trustpilot Review: 4.9
Although FTMO is the leading prop firm in the industry, they have multiple drawbacks which put them at number 4. As per FTMO claims, they target serious traders while others from this list also target beginner traders as well. FTMO does not have beginner-friendly restrictions. And for all these reasons, they are placed at number 4. FTMO, however, is the first prop firm in the industry to introduce the $100,000 challenge to the market. Nevertheless, looking at their Trustpilot reviews, most seemed fake to gain popularity within the community.
Trustpilot Review: 4.9
FidelCrest is a global prop firm with its headquarters in Nicosia, Cyprus. The plans of FidelCrest are very expensive. Not friendly for beginner traders. And for all these reasons, FidelCrest is placed at the bottom of the list.
Trustpilot Review: 4.6
There is plenty of fish in the pond, but you have to choose the best one for you. And FundedNext is the best option for forex traders looking to make a profit and live their lives.
So, start your forex journey with the best one in the pond of prop trading firms. Although we would recommend FundedNext, considering their features and trying out a month with them, we also want to encourage you to try out other options as well. Whichever firm you choose, give the best of your trading experience because the life of financial freedom awaits with the journey with a prop trading firm.