Best Forex Prop Firms of 2024

Proprietary FX trading firms or Forex prop firms:-

Proprietary trading, or prop trading, is when financial firms or proprietary FX trading firms use their own money to trade currencies for profit. Often called these are firms that maintain a pool of professional traders who trade on behalf of the firm rather than with an individual's own money.

This money, most of the time, comes as a profit-sharing scheme with the firm, according to an agreed Profit Sharing Scheme. Higher leverage is provided by the proprietary FX trading firms in comparison with retail trading accounts, what this actually does is that it allows traders to hold larger positions with less capital. Besides, it has strict risk management protocols that help ensure the conservation of the firm's capital and minimize possible losses. The model hence allows firms to exploit the opportunities available in the market while incorporating the expertise from the professional traders.

Top forex prop firm1) – A prop firm trading

Topstep, like many other prop trading firms, hires stocks, futures, and indices traders and provides capital, support, risk management strategies, and coaching to help them trade successfully. Traders are then rewarded using a robust profit split.

Profit split: 100% up to $5,000, then 80% afterwards.

Features:-

Free 14-days trial.

Group performance coaching sessions.

Private trading coach with professional coaches and AI coaching.

Keep the first $5,000 in profit and 80% afterward.

Support team.

Pay fees through PayPal, Mastercard, Visa, American Express, and Discover.

Pros:

According to the company's website, it funded 8,389 accounts in 2021 for customers spread across 143 countries.

Leverage of up to 1:100.

Referral program.

Cons:

No bonuses from broker Equiti Capital.

The support service is just on weekends.

2) – A reliable prop firms

The 5ers is one of the oldest and most reliable prop firms in the industry.

The 5%ers let you trade forex, metals, and indices with a live account from day 1 without any need for trial accounts.

Features:

The fastest growth plan

No time limit on trading

Traders use MetaTrader 5.

24/7 support

Bonuses

Pros:

Funding up to $4 million. Funding doubles after each milestone.

1:100 leverage on High stakes program

The first low-entry cost challenge when you pay upon success!

The fastest growth plan in the industry

Compatible with all trading stylesGet account access within seconds

Profit split up to 100% plus bonuses and salary

MT5 platform available

They are traders themself, providing high-quality education

24/7 dedicated support