7 Best Forex Prop Firms in 2024

In forex trading, picking the right prop trading firm can be a complicated task in the dynamic world.

By GI Team

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What are the Best Forex Prop Trading Firms?

In forex trading, picking the right prop trading firm can be a complicated task in the dynamic world. New prop firms are launching every month and traders don’t know which is the very best prop trading firm and which most prop firms they can trust. After you read this short article you will have a clear understanding of which propfirms are the best for 2024. Our Team spends hours on researching and testing them only that you can focus on what really matters – trading.

We simplify the process by comparing the top global forex funding stocks trading options. It does so in a clear and easy-to-understand way. We look at important things like trustworthiness, profit targets, amount of payouts, financial markets, and the firm’s reputation.

We will examine every important aspect. This includes the Foundation Year, the CEO’s trustworthiness, the business’s registration, and much more.

If you are a new forex trader it is important that you don’t waste your time by comparing every different prop and proprietary trading firm. Every day, new prop firms are launching. It’s important to have a couple of safe proprietary firms that you can trust guaranteed.

All of our listed prop firms are legit and tested by our team. We spend hours for you to find the best propfirm. Whether you use dollars or pounds, Guest Invest’s comparison helps you with forex. Find coupons and improve your understanding of the forex market.

1. Goat Funded Trader

Goat Funded Trader is a renowned market-making forex prop trading firm. They commit to delivering an exceptional trading platform and experience for prop traders worldwide. They operate on the principles of proprietary prop trading legal They provide legal and transparent services that enhance the trader’s journey.

Goat Funded Trader sets itself apart with its unique market-making features. These include 100% refundable fees and a profit split target of 7%. They also include payout on demand, zero commission on stock indices, and low spreads. They are all aimed at maximizing the trader’s profit potential. This encourages traders to reach their goals without undue pressure. Traders can trade a wide range of liquidity asset classes. Traders can get a profit split of up to 95%.

This prop firm offers two-phase funding programs. These programs cater to a wide range of trading requirements. Traders have the convenience of managing their trading account on top-notch trading tools and platforms MT4 & MT5. To add to the trader’s comfort, Goat Funded Trader extends 24-7 customer support globally via their live chat. They ensure that they promptly address every funded trader’s queries and concerns.

To understand what Goat Funded Trader offers, read our comprehensive review. It provides all the necessary information.

Special 11% Discount & 120% Refund for Goat Funded Trader with Code: SHINY

2. FTMO

FTMO is one of the best proprietary trading firms. They have experience allowing traders to and maintain achievable profit and daily loss limits. They have introduced a unique 2-step evaluation course for traders to manage up to $200,000. in trading futures, Traders have a maximum drawdown of 10%.

This crafted process consists of the FTMO Challenge and Verification stage. The design of it specifically identifies and assesses trading talents and the trading skills themselves. It’s important to note that FTMO allows algorithmic and trading platforms This can be a game-changer for some traders. They have one of the strongest trading communities.

FTMO’s primary goal is to provide opportunities and fund traders worldwide. The organization of stock traders wants to assist them on their journey toward financial independence. You can find more comprehensive information in our FTMO Review. You need to note that the fee for a FTMO challenge is higher compared to other prop firms. Traders can achieve their profits in many futures trading leverages.

3. The Funded Trader

The Funded Trader is another forex best prop trading firm with a lot of experience. They work with Eightcap, a serious and experienced broker. They have operated in the global market for many years. The Funded Trader offers traders a professional dashboard with all the necessary information. In Conclusion, we can say that The Funded Trader is on average better compared to many other best prop trading firms.

One of the key advantages are that they offer 5 different funding program options to find the right program for your own trading strategy and style. It doesn’t matter if you trade swing or news, The Funded Trader got all this covered. Remember you can not trade equities.

Special 8% Discount Code for The Funded Trader: PW

4. Bespoke Funding

Bespoke Funding, one of the newer proprietary trading firms was incorporated in September 2022. Based in Dubai, they offer Traders No Time Limit Challenges. They have achievable profit targets and have good and transparent trading rules. One of their key benefits is that they allow overnight & Weekend holding. Another point to highlight is that they allow news trading. Traders can receive their first payout after 14 days. Traders can trade multiple options including forex commodities and cryptocurrencies.

For a more detailed look into the prop trading space and what Bespoke Funding offers, read our comprehensive Bespoke Funding Review. It provides all the information you need. You’ll find there as well all the benefits of prop trading.

Special 15% Discount for Bespoke Funding with Code: SHINY10

5. Funded Trading Plus

Funded Trading Plus offers traders four different funding program options. Traders are very satisfied worldwide. They have an impressive 4.9 Trustpilot rating from over 2000 reviews. They also allow news trading and have no minimum and maximum trading days. They are in this position because their both profit target, and loss targets are good, but less profitable compared to our other prop firms. However, this option is above industry standards and traders receive regular payouts from them.

For more insights into their offerings, check out our Funded Trading Plus Review. It provides a detailed overview of the platform and trading conditions including its detailed pros and cons. It is a must-read for every forex prop trader who thinks about starting a challenge to start trading hereat-funded trading Plus.

Special 10% Discount for Funded Trading Plus with Code: FT10

6. Surge Trader

Surge Trader also has no minimum trading day requirements. They are an experienced player in the trading world and of the prop trading market too They offer a 1 Million Dollar challenge which is one of the highest in the industry. Very experienced traders can participate in this opportunity to gain profits. Obviously the higher the profit and loss margins the more money can traders make. You can only lose your challenge fee.

If you’re interested in becoming one of the funded traders at Surge Trader, kindly check out our Surge Trader Review. It contains all the information you need to know before you get started. You can take a look and see all the pros and cons in one place.

Special 10% Discount for SurgeTrader with Code: SHINY10

7. Smart Prop Trader

Proprietary prop trading firms however like Smart Prop Trader, are very profitable traders relatively cheap. They have only one 2-step challenge but with very achievable profit targets. They have only one option this is the reason why they are in this position.

Traders can find a cheap, good, and realistic 2-step challenge right there. They offer industry-standard rules and offer payouts every 2 weeks. For traders who have good risk management and wants to check out their program, profitable traders can explore their free trial account.

Before starting trading combined in a 2-step challenge with SmartPropTrader, it is recommended to carefully consider the advantages and disadvantages proprietary trading firm of this propfirm. Check out the Smart Prop Trader Review before getting trading capital from this prop firm.

Special 5% Discount for Smart Prop Trader with Code: SHINY

Who Can Benefit from Forex Prop Firms?

The prop trading landscape offers a fertile ground for a diverse range of traders, each with their own aspirations and goals. Let’s delve into the specific groups of skilled traders, who can unlock significant benefits from futures trading, by partnering with a reputable forex prop firm:

Aspiring Forex Traders with Limited Capital: For those new to the world of forex trading, the initial capital hurdle can feel insurmountable. Prop firms offer a unique gateway to overcome this obstacle. By providing access to funded accounts, aspiring traders gain invaluable live market experience without jeopardizing their own capital. This practical exposure allows them to hone their skills, test their strategies, and develop the confidence needed to thrive in the dynamic forex market.
Seasoned Traders Seeking to Scale Profits: Experienced traders who have consistently demonstrated success in the retail trading realm can leverage prop firms to significantly amplify their earning potential. Prop firms provide access to substantial accounts, allowing seasoned traders to magnify their returns and propel their careers to new heights. Imagine the possibilities of deploying your honed strategies with significantly more capital at your disposal!
Struggling Traders Refining Their Approach: If you’ve encountered challenges replicating success in the retail trading environment, prop firms offer a valuable opportunity to refine your approach. A funded account allows you to test and adapt your trading strategies in a live market setting but without the risk of depleting your own capital. This controlled environment fosters experimentation and allows you to identify areas for improvement. Partnering with a prop firm can be the catalyst for a breakthrough, propelling you towards consistent profitability.

Crucial Considerations Before Diving into the Prop Trading Arena:

Here’s a breakdown of key factors to ponder before joining a prop firm and propelling your trading journey:

Aligning Your Trading Strategy: Not all prop firms are created equal! Before jumping in, meticulously examine the prop firm’s permitted trading styles and instruments. Ensure your carefully honed trading strategy seamlessly integrates with their framework. This harmony between your approach and the firm’s regulations is vital for achieving consistent profitability within the funded account.
Risk Management: The Bedrock of Success: Effective risk management transcends all trading environments, and the prop trading landscape is no exception. Scrutinize the prop firm’s evaluation process, specifically how it emphasizes sound risk practices. Ideally, the firm should incorporate challenges or assessments that test your ability to manage risk effectively. Partnering with a prop firm that prioritizes risk management safeguards your capital and fosters long-term success.
Harnessing the Power of Community: Certain prop firms cultivate a supportive trading community, a valuable asset for any aspiring or seasoned trader. Imagine a collaborative environment where you can glean insights and benefit from the mentorship of experienced prop traders. This exchange of knowledge and experience can significantly accelerate your learning curve and equip you with the tools to navigate the complexities of the markets.

The Diverse Landscape of Prop Firm Compatibility: Who Fits the Bill?

The prop trading landscape offers a surprisingly broad spectrum of opportunities, with most top prop trading firms catering to a wide range of traders with distinct goals and experience levels. Let’s explore the various groups that can find a perfect fit within a prop firm:

Aspiring Forex Traders Seeking a Safe Learning Ground: Contrary to popular belief, prop firms can provide a surprisingly safe environment for beginners venturing into the world of forex trading. By offering funded accounts, prop firms eliminate the initial capital barrier, allowing new traders to gain invaluable live market experience without risking their own funds. This practical exposure fosters the development of essential skills like strategy testing, risk management, and emotional discipline, all within a controlled environment.
Experienced Traders Gearing Up for Profit Amplification: Seasoned traders with a proven track record of success in the retail trading realm can leverage prop firms to significantly amplify their earning potential. Prop firms provide access to substantial accounts, dwarfing the capital limitations typically faced by retail traders. Imagine the possibilities of deploying your honed strategies with significantly more capital at your disposal! This translates to magnified returns and the potential to propel your trading career to new heights.
Trading Stylistic Freedom: From Swing to Scalping and Beyond: One of the significant advantages of prop firms is their accommodation of diverse trading styles. Prop firms go beyond the traditional mold, catering to swing traders who capitalize on medium-term market movements, day traders who exploit short-term price fluctuations, and even algorithmic traders who rely on automated trading strategies. This stylistic freedom allows experienced traders to find a prop firm that aligns perfectly with their preferred approach to the market.