Table of Contents
Who Are Forex Prop Firm
Forex Prop Firm is a proprietary trading firm founded by Jonathan Dufresne. It was incorporated as a legal entity reputation in January 2022, with its registered legal name as FPF s.r.o and has its headquarters in Montreal Canada.
With Eightcap as its broker, the proprietary trading firm provides a number of four account types for their traders to choose from.
Funding Program Options
Forex Prop Firm provides four funding programs.
- One-step challenge
- Two-step challenge
- No time limit two-step challenge
- Instant funding.
One-step challenge
One-step challenge funding is a trading option provided by Forex Prop Firm. It identifies disciplined profitable traders through a one-step evaluation period, thereby enabling them to manage huge account sizes ranging from $ 25, 000 to $ 200,000.
For this evaluation phase, there are no maximum trading days or time limitations. Traders have to attain a profit target of 10% without surpassing the 4% maximum and 6% maximum daily loss limit rules to get a funded trading account.
The evaluation phase completion allows the traders reputation to make a 5% minimum withdrawal out of their funded account which is payable within 30 days of the first trading deposit into the funded accounts. Subsequent withdrawals can be done bi-weekly.
The profit split of the traders is normally 90% up to 100% based on profit they made from their funded account with a 10% profit share addition obtained during the evaluation phase.
This one-step challenge further allows a trader to trade with up to 1:30 leverage.
One-Step Challenge Trading Rules:
- Profit Target: Traders have to achieve a profit target of 10% to successfully pass the evaluation stage, withdraw earnings, and scale their account.
- Maximum Daily Loss: A trader is only allowed to lose 4% in a single trading day across all account sizes.
- Maximum Loss: The maximum loss limit a trader is allowed across all account sizes is 6%.
Two-step Challenge
Forex Prop Firm’s Two-step challenge aims to identify talented traders that can effectively control risk and make profit while managing account sizes ranging from $25,000 to $200,000. The Challenge also provides leverage of up to 1:30 for trading.
Phase one requires a trader to hit a profit target of 8% without exceeding their 12% maximum loss rule. You have 35 days to reach the goal and are expected to trade for at least 5 days a week before you can proceed to phase two.
For phase two, a trader is expected to reach a 5% profit target while staying within the 12% maximum loss rule. You have 60 days to complete the task and have to trade for at least 5 days to qualify for a funded account.
Upon completing both phases, you will receive a funded account. When trading, there are no time limitations and you are only expected to respect the 5% maximum daily loss and 10% maximum loss rules. You can request for payment 30 days after your first trading day while other withdrawals can be made bi-weekly. Plus, your profit split will be 90% but it can go up to 100% depending on how successful you are.
Two-step Challenge Trading Rules:
- Profit Target: Traders have to achieve a profit target of 8% in phase one and 5% in phase 2 to successfully pass the evaluation stage, withdraw earnings, and scale their account.
- Maximum Daily Loss: A trader is only allowed to lose 5% in a single trading day across all account sizes. However, evaluation accounts have no maximum daily loss rule.
- Maximum Loss: The maximum loss limit a trader is allowed is 12% during the evaluation stage and 10% when using a funded account.
- Maximum Trading Period: The evaluation has a maximum trading duration of 35 days for phase one and 60 days for phase two.
No Time Limit Two-step Challenge
Forex Prop Firm’s No Time Limit Two-step challenge aims to identify talented traders that can effectively control risk and make profit while managing account sizes ranging from $25,000 to $200,000. The Challenge also provides leverage of up to 1:30 for trading.
Phase one requires a trader to hit a profit target of 10% without exceeding their 10% maximum loss and 5% maximum daily loss rule. You are expected to trade for at least three days a week before you can proceed to phase two. But other than that, there are no time limitations.
For phase two, a trader is expected to reach a 5% profit target while staying within the 5% maximum daily loss and 10% maximum loss rule. You have to trade for at least three days to qualify for a funded account.
Upon completing both phases, you will receive a funded account. When trading, there are no time limitations and you are only expected to respect the 5% maximum daily loss and 10% maximum loss rules. You can request for payment 30 days after your first trading day while other withdrawals can be made bi-weekly. Plus, your profit split will be 90% but it can go up to 100% depending on how profitable you are.
No Time Limit Two-Step Challenge Trading Rules:
- Profit Target: Traders have to achieve a profit target of 18% in phase one and 5% in phase 2 to successfully pass the evaluation stage, withdraw earnings, and scale their account. Funded accounts don’t have specific profit targets.
- Maximum Daily Loss: A trader is only allowed to lose 5% in a single trading day across all account sizes.
- Maximum Loss: The maximum loss limit a trader is allowed is 10% across all account sizes
- Maximum Trading Period: For both evaluation phases, you are expected to trade for at least three days.
Instant Funding
Forex Prop Firm’s Instant Funding helps traders skip the evaluation phase altogether and begin trading immediately. Traders have access to account sizes ranging from $25,000 to $200,000. The Challenge also provides leverage of up to 1:30 for trading.
After purchasing Instant Funding, you will receive a funded account with a minimum withdrawal amount of 5% and minimum trading day requirement of 5 days. When trading you are expected to respect the 5% maximum daily loss and 10% maximum loss rules. You can request for payment 30 days after your first trading day while other withdrawals can be made bi-weekly. Plus, your profit split will be 80% but it can go up to 100% depending on how successful you are.
Instant Funding Trading Rules:
- Profit Target: Traders have to achieve a profit target of 5% for the funded account to withdraw earnings, and scale their account.
- Maximum Daily Loss: A trader is only allowed to lose 5% in a single trading day across all account sizes.
- Maximum Loss: The maximum loss limit a trader is allowed is 5% across all account sizes
- Maximum Trading Period: For both evaluation phases, you are expected to trade for at least five days.
What Sets Forex Prop Firm Apart From Other Prop Firms?
Forex Prop Firm provides four unique account types that are different from the offerings of leading industry prop firms.
The One-step challenge requires traders to complete a single step before becoming a funded trader and it has no minimum trading days.
The Two-step challenge has a unique scaling plan for traders to manage larger accounts and no maximum daily drawdown once you pass the evaluation phases. The No Time Limit Two-step challenge offers an unlimited trading period and a profit split of up to 100% from the funded account and 10% profit split from demo phases.
Instant Funding allows traders to easily gain access to a funded account while enjoying an unlimited trading period. In addition, traders have access to a variety of trading instruments such as cryptocurrencies, forex pairs, stocks, indices, and commodities with 1:30 leverage depending on the instrument you are trading. To see the full list of their stock options, refer to the Spread Account which enables you to log into the MetaTrader 4 or MetaTrader 5 platform and see the complete list.
The company gives traders access to capital for trading regardless of their skill level, trading style, and needs compared to other proprietary trading firms.
Is Getting Forex Prop Firm Capital Realistic?
Although Forex Prop Firm offers a very attractive profit split and favorable conditions for trading, it is important to determine if it is possible to meet their trading requirements and how convenient it is to get access to capital for trading. It is also necessary to consider factors like time restraints and withdrawal limitations if any to decide whether or not the proprietary trading firm is the best for your trading career.
Receiving capital from Forex Prop Firm is realistic because:
- The One-step Challenge offers below average profit target of 10% including average maximum loss rules (4% maximum daily and 6% maximum loss). There are no trading day requirements and get to keep 90% of the profits with the opportunity to scale to 100%.
- The Two-step Challenge has realistic profit targets (8% in phase one and 5% in phase two) including below average maximum loss rules (no maximum daily and 12% maximum loss during evaluation). For a funded account, you are expected to meet the 5% daily and 10% maximum loss. You are required to trade for at least 5 days and an advantageous profit split of 90% to 100%.
- The No Time Limit Two-Step challenge offers modest profit targets (10% in phase one and 5% in phase two) including average maximum loss rules (5% maximum daily and 10% maximum loss). There are no time restraints but there is a minimum trading day requirement of 3 days. After completing all evaluation phases, traders can enjoy a profit split of 90% up to 100%.
- Instant Funding has a realistic profit requirement of 5% while trading for at least 5 days. Traders can then enjoy a profit split of 80% up to 100% when profitable.
Payment Proof
Since it was incorporated in January 2022, Forex Prop Firm has built a large community of traders using funded accounts. The firm’s payment proof can be found on various websites like Trustpilot where traders share their payouts from the company.
Traders can also refer to their Discord and YouTube channel where you can find several payout certificates from the proprietary trading firm and interviews with some of the most successful traders on the platform.
Education
It has a growing database of educational resources available for free to its community of traders. In its Media section, you have access to:
- Top Reviews
- Traders Interview
- Payout Proofs
- FAQs
- Announcements
Everything you need to understand the market and simplify risk management is provided for in a well-organized dashboard on the company’s website.
Trustpilot Review
Trustpilot is known for having credible reviews and it is an easy way to find out what users of prop firms have to say about their services. The firm has a relatively good score on Trustpilot based on their community’s feedback.
With a rating of 4.2 out of 5 the company has mostly positive reviews from traders on the platform. 82% of these reviews have awarded it 5 star ratings.
In general, clients seem satisfied with how their trading journey and experience on the platform has progressed and also highlight certain areas that the firm does pretty well in. They provide your login credentials within 48 hours after passing the two-step evaluation. Additionally, you immediately sign an agreement after purchasing the challenge and a certificate to show that you have completed it successfully.
Finding credible prop firms can be a challenge but overall, clients seem satisfied with their straightforward process, fast customer service, quick outreach, and smooth interface that all impact your experience on the platform.
Social Media Presence
Forex Prop Firm has garnered thousands of followers across their social media platforms giving users a chance to keep up with the latest updates and events on the website. You can find the firm on Instagram, Twitter, YouTube, Telegram, and Discord.
Customer Support
If you have questions or concerns about Forex Capital Funds, you can reach out to customer care through the live chat on the website or via email at support@forexpropfirm.com. Checking their FAQ page could provide you with quick answers but you could get a more detailed response through the Discord channel or the Telegram channel.
Conclusion
In conclusion, Forex Prop Firm is a reliable proprietary trading firm for traders who want to have access to different options.
The One-step Challenge requires you to only complete a single phase to become eligible for a funded account and enjoy up to 90% of the profits. There are no trading day requirements for this account meaning that you can move at your own pace. You have to maintain a 10% profit percentage to get an account. This is realistic considering that you have to respect the 4% maximum daily and 6% maximum trailing loss rules.
Forex Prop Firm’s Two-step challenge puts traders through two evaluation phases where you only have to trade for at least 5 days. To receive a funded account, you’ll have to reach a profit target of 8% in phase one and 5% in phase two. There is no maximum daily loss rule to follow but you do have to obey the 12% maximum loss rule to pass the phases successfully. Once you pass and receive your funded account, you can keep up to 90% of the profits and later bump it up to 100% if you do well consistently.
The No Time Limit Two-step Challenge places no trading day requirements on the evaluation phase. However, you must maintain a profit percentage of 10% in phase one and 5% in phase two to qualify for a funded account. This is an industry standard evaluation that tests your skills while allowing you to progress at your own pace. You have a 5% maximum daily and 10% maximum loss rules to follow and you have to trade for at least 3 days in each phase to pass and get a funded account.
The Instant Funding account helps you skip the evaluation phase all together and start earning while trading for at least 5 days a week. There is a withdrawal requirement of 5% and traders have to follow the 5% maximum daily and 5% maximum loss rules.
Each account type comes with realistic trading conditions and the phases are designed to help you fine tune your risk management strategies and profit potential. In addition, each account type comes with the option to scale your account, increase your initial account balance and manage an even bigger account which might not be offered by other prop firms.
For traders who want to work with a reputable firm to kickstart their trading career, Forex Prop Firm is one of the top prop trading firms and a desirable choice to consider.
