What prop firm has the fastest payout?

Fastest Industry Payouts – MyFundedFutures has the fastest payouts in the futures prop trading space which has become more and more important with some of the other futures prop trading firms taking weeks to payout.

Is FTMO the best prop firm?

FTMO Investment Options One of the main reasons why FTMO is a good prop firm is their investment options. They offer traders the opportunity to trade with their own capital, as well as access to additional capital from FTMO.

What percentage of traders pass prop firm challenge?

That result should look catastrophic for anyone who hopes to join a prop firm. The article from Lux Trading Firm provides slightly different results. According to it, 4% of traders, on average, pass prop firm challenges. But only 1% of traders kept their funded accounts for a reasonable amount of time.

How much does the average prop trader make?

Prop Firm Trader Salary The salary of a prop trader can vary greatly depending on several factors such as experience, performance, and the size of the firm. On average, a junior prop trader can expect to earn anywhere between $50,000 to $100,000 per year , while a senior trader can make upwards of $500,000 annually.

What is the biggest FTMO payout?

Dariusz from the USA probably exceeded everyone's expectations and made his dreams come true. Being our FTMO Trader with a maximum allocation, he was able to beat the previous record payout of $500,180 by miles thanks to his profit of $1,206,225, which is the biggest profit recorded in the industry!

Does FTMO really pay?

FTMO's payout process is straightforward and transparent. Once a trader successfully completes the Challenge and Verification phases, they are eligible to receive a funded account with FTMO. The funded account comes with a profit split of 70/30, where the trader receives 70% of the profits made while FTMO retains 30% .

How do I choose a prop firm?

Vetting the Prop Firm's Track Record The first step when deciding on any prop trading firm should be an in-depth look at its reputation and history in the industry . A firm's standing within the trading community will highlight its reliability and ability to support its traders with a secure trading environment.

What is the failure rate for FTMO?

The FTMO challenge has a reputation for being extremely difficult to pass. Across FTMO's various account levels, it is estimated that only around 10% of traders are able to successfully complete the evaluation and become a funded trader. This means approximately 90% of those who attempt the challenge end up failing.

Do you need a Series 7 to trade at a prop firm?

Each Representative shall be required to pass the Series 7 General Securities Representative Qualification Examination unless his or her activities are so limited as to qualify him or her as a Proprietary Trader as specified hereafter.

Why do most people fail prop firm challenges?

The most common reasons traders fail prop firm challenges are simply overleveraging their trades, not understanding the rules, and not having a profitable trading strategy .

Why is FTMO banned in US?

FTMO have now restricted access to all new US-based traders as of January 2024. This appears to be related to regulatory issues and may have something to do with the recent My Forex Funds case.

How do I choose a prop trading firm?

Don't just pick the first prop trading firm you find. Choose one with a good reputation, support for traders, good tools, safety measures, fair costs, and a friendly community . This way, you can trade smarter and have a better chance at success.

Which forex broker does FTMO use?

You can trade your FTMO Challenge, Verification, and FTMO Account on some of the most popular retail platforms – MetaTrader 4, MetaTrader 5, DXtrade, or cTrader .

Top 5 Forex Prop Trading Firms - Trustpilot Rated

While several factors contribute to a firm's reputation, one indicator of reliability and customer satisfaction that many prospective traders rely on is Trustpilot ratings. These ratings, based on customer reviews, provide genuine insights into the firms' performance and trader satisfaction. In this article, we delve into the top five forex prop trading firms, ranked by their Trustpilot ratings, indicating their credibility and level of trust they have managed to establish within the trading community.

Significance of Trustpilot Ratings in Prop Trading Firms

Trustpilot ratings significantly contribute to depicting the credibility and trader satisfaction within Proprietary (Prop) Trading Firms. They offer a glimpse into the overall contentment of traders who have interacted with these firms. A higher rating generally reflects better satisfaction and credibility, serving as a substantial information source for prospective traders evaluating the merits and demerits of a specific firm. As part of their preliminary research, traders might consider Trustpilot ratings to find a firm that resonates with their trading objectives and approach. Now, let's explore the top 5 forex prop trading firms gauged by these ratings:

#1 Funded Trading Plus [Rating: 4.9]

Funded Trading Plus is a UK-based proprietary trading firm that offers a platform for traders to trade with the firm's capital across various financial instruments. The firm has been in business for 2 years, partners with the broker EightCap and provides trading platforms MT4 and MT5 for its traders. Despite being relatively new to the scene, Funded Trading Plus has a Trustpilot rating of 4.9, which suggests a high level of satisfaction among its clients. Traders have a broad spectrum of markets to trade in including Forex, Indices, Commodities, and Cryptocurrencies. In Forex, for instance, both major and minor pairs are available for trading. Major indices like SPX500, US30, GER30, and commodities including gold and oil are also accessible.

#2 FTMO [Rating: 4.9]

FTMO is a proprietary trading firm based in the Czech Republic, with 8 years of operation under its belt. On our list, FTMO shares the highest Trustpilot rating of 4.9 along with Funded Trading Plus. FTMO provides a wide array of trading instruments including Forex, Indices, Commodities, Stocks, and Cryptocurrencies. The firm offers popular trading platforms MT4, MT5, and cTrader, which are well-regarded in the trading community for their features and user-friendly interfaces. FTMO provides different leverage options based on the type of asset being traded and the trading style (normal or swing). For instance, in normal trading, Forex and Exotics have a leverage of 1:100, while Cryptocurrencies and Equities CFDs have a leverage of 1:3.3. In swing trading, the leverage is reduced to 1:30 for Forex and Exotics, and 1:1 for Cryptocurrencies and Equities CFDs. There are no commissions on Cash CFD, Futures CFD, and Crypto which could be appealing to traders looking to minimize trading costs.

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#3 The 5%ers [Rating: 4.8]

The 5%ers, led by CEO Saul Lokier, is a proprietary trading firm based in Israel and has been operating for 7 years. The firm has a Trustpilot rating of 4.8, reflecting user feedback and experiences with their services. At the core of The 5%ers' offerings is a variable profit split model, where traders can earn between 75% to 100% of the profits they generate, depending on the specific program they participate in. Risk management is a key focus, with the firm setting a maximum total drawdown limit between 5% and 10%. Furthermore, they charge a commission of $4 per round lot, and process pay-outs to traders every 12 days. The 5%ers cater to a wide range of trading interests by providing access to diverse instruments including Forex, Metals, and Indices. Each category offers opportunities for varying strategies and preferences. Additionally, the 5%ers engage traders through the MetaTrader 5 (MT5) platform, a commonly used interface in financial trading. In terms of leverage, The 5%ers offer different ratios depending on the program: the Hyper Growth program has a leverage of 1:30; the Bootcamp program sets the leverage at 1:10 and the High Stakes program offers a significantly higher leverage of 1:100.

#4 Ment Funding [Rating: 4.8]

Ment Funding, under the leadership of CEO Anton Calmes, is a proprietary trading firm in the United States that has been in operation for two years. The firm has matched the industry leaders with a Trustpilot score of 4.8. Ment Funding offers a range of account sizes, from $25,000 to $2 million, catering to both intermediate and more financially equipped traders. The firm has a straightforward evaluation process, consisting of a single-step assessment, where traders are expected to reach a profit target of 10%. The maximum total drawdown across all accounts is uniformly set at 6%, and the firm applies a maximum leverage of 1:20 across all trading instruments. Ment Funding utilizes the MT4 and MT5 platforms in collaboration with EightCap, a broker, to provide its trading services. Additionally, the firm’s trading instruments are varied, encompassing FX pairs, CFD Indices, Metals, Equity Shares, and Cryptocurrencies. Regarding commissions, Ment Funding has a specific structure: they charge $6 per round lot on Forex trades. However, trades in Forex, Indices, and Commodities are commission-free, providing cost-effective trading options in these markets.

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#5 Funding Pips [Rating: 4.8]

Helmed by CEO Khaled Ayesh, Funding Pips is a relatively recent addition to the proprietary trading industry, having been established in the United Arab Emirates a year ago. The firm holds a strong Trustpilot rating of 4.8, and provides its traders with access to the MT5 platform through a partnership with BlackBull Markets as their brokerage service. Funding Pips is designed to serve a diverse group of traders, with account sizes ranging from a modest $5,000 to a more substantial $100,000. The firm's evaluation methodology is split into two distinct phases. In the initial phase, traders are tasked with achieving an 8% profit target. This is followed by a second phase where the profit target is slightly reduced to 5%, offering a progressive and challenging trading environment. In terms of the variety of trading instruments, Funding Pips offers a broad spectrum including Forex, Cryptocurrencies, Indices, as well as Metals & Energies. Additionally, for Forex and Metals trading, there is a $2 commission per lot, while trades involving Crypto, Indices, and Oil are free from commission.

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Summary

Our list examines the top five Forex prop trading firms based on Trustpilot ratings, underscoring the importance of these ratings in evaluating a firm's credibility and client satisfaction. With Trustpilot ratings serving as a valuable insight into trader satisfaction, the firms Funded Trading Plus and FTMO lead with ratings of 4.9. Following closely are Maven, My Flash Funding, and Smart Prop Trader, all with a rating of 4.8, showcasing commendable performance and client contentment despite being relatively new to the scene. While each firm has unique offerings, their high Trustpilot ratings collectively illustrate a strong level of satisfaction and credibility within the trading community, aiding prospective traders in making informed decisions.

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Top 5 Forex Prop Trading Firms - Trustpilot Rated | Prop Firm Match (2024)