Pros
- Four different funding programs
- Excellent Trustpilot rating of 4.3/5
- Excellent support team
- 10% profit split from evaluation phases
- Scaling plan up to $10,000,000 capital
- Profit splits up to 100%
- Bi-weekly payout cycles
- A large variety of trading instruments (forex pairs, commodities, indices, stocks, crypto)
- No maximum trading days on three funding programs
- Overnight trading and holding is allowed
- News trading allowed
Cons
- Leverage up to 1:30
- Withdrawal target of 5% on each funding program
- Maximum trading period for Two-step evaluation program
Who are Forex Prop Firm?
Established in January 2022, Forex Prop Firm operates as a proprietary trading firm under the official business name 9452-8635 Québec Inc. Situated in Montreal, Canada, the firm provides clients the opportunity to trade with accounts ranging from up to $200,000 in capital, with the potential to scale up to an impressive $10,000,000. Leveraging advanced technology, Forex Prop Firm has seamlessly integrated with Eightcap, a broker regulated by ASIC and based in Melbourne, Australia.
The firm’s primary business location is 288 Christin, J5z 4n1, Qc, Canada.
Who is the CEO of Forex Prop Firm?
Funding program options
Forex Prop Firm offers its traders four different programs to choose from:
- One-step Evaluation
- Two-step Evaluation (No Daily Drawdown during Evaluation)
- No Time Limit Two-step Evaluation
- Instant Funding
One-step Evaluation
Account Size
Price
$25,000
$209
$50,000
$319
$100,000
$549
$200,000
$999
One-step evaluation program account rules
- The profit target represents a designated percentage of profit that traders must achieve to conclude an evaluation phase, withdraw profits, or scale their account. In this context, the profit target is set at 10%. For funded accounts, a 5% withdrawal profit target is applicable.
Two-step Evaluation (No Daily Drawdown during Evaluation)
The primary objective of Forex Prop Firm’s two-step evaluation program account is to recognize disciplined and skilled traders, rewarding them for their consistency within the defined two-step evaluation period. Traders operating in the two-step evaluation program account have the flexibility to trade with leverage of up to 1:30. It’s important to note that there are no daily drawdown rules imposed when utilizing the two-step evaluation program account.
Account Size
Monthly Bonus (Hot Seat Status)
$25,000
$189
$50,000
$289
$100,000
$499
$200,000
$979
The first step of the evaluation process necessitates traders to achieve an 8% profit target while staying within the 12% maximum loss rule. This profit target must be met within 35 calendar days from the initiation of the first position on the evaluation account. Additionally, there is a requirement of a minimum of five trading days to progress to step two.
Moving to the second evaluation step, traders must attain a 5% profit target while adhering to the 12% maximum loss rule. This target needs to be reached within 60 calendar days from the placement of the first position on the evaluation account. Similar to step one, there is a prerequisite of a minimum of five trading days to advance to funded status.
Upon successful completion of both evaluation steps, traders are granted a funded account with a 5% profit target threshold for withdrawal requests. Compliance with the 5% maximum daily and 10% maximum loss rules is mandatory. The first payout can be requested 30 calendar days after initiating the first trade on the funded account and generating a profit of 5% or more.
Starting with a 90% profit split, traders can scale up to 100% through participation in the scaling plan. Upon eligibility for the first payout, traders receive a bonus equivalent to 10% of the profit generated during both evaluation steps. Subsequent withdrawals can be requested bi-weekly on the 1st and 16th of each month, provided a profit of 5% or more has been achieved. Eligibility is contingent on meeting the specified profit criteria.
Two-step evaluation program account rules
- The profit target represents a defined percentage of profit that traders must achieve to conclude an evaluation phase, withdraw profits, or scale their account. In Phase 1, the profit target is set at 8%, while Phase 2 requires a profit target of 5%. For funded accounts, a 5% withdrawal profit target is applicable.
No Time Limit Two-step Evaluation
Forex Prop Firm’s two-step evaluation program with no time limit is designed to recognize disciplined and skilled traders, rewarding them for their consistency in an unrestricted two-step evaluation period. This unique program allows traders to operate with up to 1:30 leverage
Account Size
Price
$25,000
$209
$50,000
$319
$100,000
$549
$200,000
$999
In the initial phase of the evaluation process, traders are required to achieve a 10% profit target while adhering to the 5% maximum daily loss and 10% maximum loss rules. Notably, there are no specific time limitations or maximum trading day requirements during this first step. However, a minimum of three trading days is necessary to progress to the second step.
Moving to the second evaluation phase, traders must attain a 5% profit target while maintaining the 5% maximum daily loss and 10% maximum loss rules. Similar to the first phase, there are no specific time limitations or maximum trading day requirements during this step. Nevertheless, a minimum of three trading days is mandatory to advance to funded status.
Upon successfully completing both evaluation steps, traders earn a funded account, featuring a 5% profit target threshold for withdrawal requests. Adherence to the 5% maximum daily loss and 10% maximum loss rules is mandatory. The first payout can be requested 30 calendar days after initiating the first trade on the funded account and generating a profit of 5% or more.
Starting with a 90% profit split, traders can scale up to 100% through participation in the scaling plan. Upon eligibility for the first payout, traders receive a bonus equivalent to 10% of the profit generated during both evaluation steps. Subsequent withdrawals can be requested bi-weekly on the 1st and 16th of each month, provided a profit of 5% or more has been achieved. Eligibility is contingent on meeting the specified profit criteria.
No time limit two-step evaluation program account rules
- The profit target represents a designated percentage of profit that traders must achieve to conclude an evaluation phase, withdraw profits, or scale their account. In Phase 1, the profit target is set at 10%, while Phase 2 requires a profit target of 5%. For funded accounts, a 5% withdrawal profit target is applicable.
- The maximum daily loss signifies the highest allowable loss a trader can incur on a daily basis before the account is considered violated. For all account sizes, a uniform maximum daily loss limit of 5% is enforced.
- The maximum loss refers to the highest cumulative loss a trader can incur overall before the account is deemed violated. Across all account sizes, a standardized maximum loss limit of 10% is maintained.
- The minimum trading days represent the obligatory duration during which trading must occur before completing an evaluation phase or requesting a withdrawal. In both phases, there is a requirement of a minimum of 3 trading days. Conversely, when operating with a funded account, there are no minimum trading day requirements.
- Engaging in third-party copy trading involves considering the risk associated with potential duplication of trading strategies. When utilizing a third-party copy trading service, it’s important to be aware that other traders may already be employing precisely the same trading strategy. This replication introduces the risk that, by using such a third-party service, you could potentially face denial of a funded account or withdrawal if you exceed the maximum capital allocation rule.
- Engaging with a third-party EA involves considering the risk associated with potential replication of trading strategies. When utilizing a third-party EA, it’s important to be aware that other traders may already be employing precisely the same trading strategy. This similarity introduces the risk that, by using such a third-party EA, you could potentially face denial of a funded account or withdrawal if you exceed the maximum capital allocation rule.
Instant Funding
Forex Prop Firm’s instant funding program account is tailored for proficient traders, allowing them to bypass the evaluation phase and commence earning from the outset. Traders in this program need to focus solely on not exceeding the 5% maximum daily loss and 5% overall drawdown limit rule. They stand to receive profit splits ranging from 80% up to 100%, contingent on the profits generated, while trading with leverage of up to 1:30.
Furthermore, traders should note a five minimum trading day requirement and a 5% profit target before becoming eligible to request their first withdrawal. Following the initial payout, traders can subsequently request withdrawals on a bi-weekly basis, occurring on the 1st and 16th of each month. It’s essential to be mindful that eligibility for withdrawals is contingent on generating a profit of 5% or more.
Account Size
Price
$10,000
$500
$25,000
$1,250
$50,000
$2,500
$100,000
$5,000
$200,000
$10,000
Instant funding program account rules
- The profit target represents a specified percentage of profit that traders must achieve to conclude an evaluation phase, withdraw profits, or scale their account. For instant funding accounts, there is a 5% withdrawal profit target in place.
Example of comparison between Forex Prop Firm & True Forex Funds
Trading Objectives
Forex Prop Firm
True Forex Funds (Standard)
Phase 1 Profit Target
8%
8%
Phase 2 Profit Target
5%
5%
Maximum Daily Loss
None (5% once funded)
5%
Maximum Loss
12% (10% once funded)
10%
Minimum Trading Days
5 Calendar Days
5 Calendar Days
Maximum Trading Period
Phase 1: 35 Calendar Days Phase 2: 60 Calendar Days
Phase 1: 30 Calendar Days Phase 2: 60 Calendar Days
Profit Split
90% up to 100%
80%
Example of comparison between Forex Prop Firm & E8 Funding
Trading Objectives
Forex Prop Firm
E8 Funding (Normal)
Phase 1 Profit Target
8%
8%
Phase 2 Profit Target
5%
5%
Maximum Daily Loss
None (5% once funded)
5%
Maximum Loss
12% (10% once funded)
8% (Scaleable up to 14%)
Minimum Trading Days
5 Calendar Days
No Minimum Trading Days
Maximum Trading Period
Phase 1: 35 Calendar Days Phase 2: 60 Calendar Days
Phase 1: Unlimited Phase 2: Unlimited
Profit Split
90% up to 100%
80%
Example of comparison between Forex Prop Firm & FTMO
Trading Objectives
Forex Prop Firm
FTMO
Phase 1 Profit Target
8%
10%
Phase 2 Profit Target
5%
5%
Maximum Daily Loss
None (5% once funded)
5%
Maximum Loss
12% (10% once funded)
10%
Minimum Trading Days
5 Calendar Days
4 Calendar Days
Maximum Trading Period
Phase 1: 35 Calendar Days Phase 2: 60 Calendar Days
Phase 1: Unlimited Phase 2: Unlimited
Profit Split
90% up to 100%
80% up to 90%
Forex Prop Firm’s no time limit two-step evaluation program is a comprehensive two-phase process mandating traders to successfully navigate both phases for payout eligibility. In phase one, a 10% profit target is set, followed by a 5% profit target in phase two. Both phases adhere to the 5% maximum daily loss and 10% maximum drawdown rules.
Distinguishing itself from other industry-leading prop firms, Forex Prop Firm imposes no maximum trading day requirements for the no time limit two-step evaluation program accounts. This approach allows traders the flexibility to advance at their preferred pace. However, a prerequisite for withdrawal eligibility is the generation of a 5% profit.
Example of comparison between Forex Prop Firm & Funding Pips
Trading Objectives
Forex Prop Firm
Funding Pips
Phase 1 Profit Target
10%
5%
Phase 2 Profit Target
5%
5%
Maximum Daily Loss
5%
5%
Maximum Loss
10%
10%
Minimum Trading Days
3 Calendar Days
No Minimum Trading Days
No Minimum Trading Days
Phase 1: Unlimited Phase 2: Unlimited
Phase 1: Unlimited Phase 2: Unlimited
Profit Split
90% up to 100%
80% up to 90%
Example of comparison between Forex Prop Firm & Finotive Funding
Trading Objectives
Forex Prop Firm
Finotive Funding
Phase 1 Profit Target
10%
7.5%
Phase 2 Profit Target
5%
5%
Maximum Daily Loss
5%
5%
Maximum Loss
10%
Minimum Trading Days
3 Calendar Days
No Minimum Trading Days
Maximum Trading Period
Phase 1: Unlimited Phase 2: Unlimited
Phase 1: Unlimited Phase 2: Unlimited
Profit Split
90% up to 100%
75% up to 95%
Example of comparison between Forex Prop Firm & FundedNext
Trading Objectives
Forex Prop Firm
Finotive Funding
Phase 1 Profit Target
10%
8%
Phase 2 Profit Target
5%
5%
Maximum Daily Loss
5%
5%
Maximum Loss
10%
10%
Minimum Trading Days
3 Calendar Days
5 Calendar Days
Maximum Trading Period
Phase 1: Unlimited Phase 2: Unlimited
Phase 1: Unlimited Phase 2: Unlimited
Profit Split
90% up to 100%
80% up to 90%
Unlike other prop firms, Forex Prop Firm stands out with its inclusion of instant funding programs, constituting a direct funding approach. These accounts adhere to a 5% maximum daily loss and a 5% maximum drawdown rule, offering traders the flexibility of a 5 minimum calendar day requirement without imposing any maximum trading day restrictions. Notably, these accounts start with profit splits ranging from 80% up to 100%, creating a favorable starting point. However, traders are required to generate a 5% profit before becoming eligible for a withdrawal.
In summary, Forex Prop Firm distinguishes itself from other leading prop firms by providing a diverse range of four funding programs. Their emphasis on straightforward rules makes them an appealing choice for traders. Notably, traders can engage in activities such as trading during news, holding trades overnight, and trading over weekends. Additionally, participants receive a 10% profit split from their demo phases.
Payment proof
Established in January 2022, Forex Prop Firm is a proprietary trading firm with a notable track record of successful traders, evident in the abundant payment proofs showcasing their ability to generate profits and qualify for profit splits.
Upon achieving funded status through any of the four funding programs offered by Forex Prop Firm, traders become eligible for their initial payout within 30 calendar days. It’s essential to be aware that withdrawal requests can be made on the 1st and 16th of each month, provided traders have generated a minimum profit of 5%. Payouts are structured with a 90% profit split, and traders have the opportunity to increase this percentage up to 100% through participation in Forex Prop Firm’s scaling plan.
For those seeking verification of payment success, numerous instances of profit split certificates are available. Forex Prop Firm’s thriving community frequently shares diverse payment proofs on their Discord and Telegram channels, offering a comprehensive view of the firm’s traders achieving financial success.
You can see some examples of payment proof below:
Traders’ Comments about Forex Prop Firm
Forex Prop Firm has excellent feedback from its community.
Trustpilot hosts a diverse array of community feedback for Forex Prop Firm, with a remarkable overall score of 4.3/5 from 582 reviews. The positive comments underscore the firm’s reputation for delivering outstanding customer support. Forex Prop Firm is widely recognized for its responsive and helpful team, readily providing assistance whether you seek additional information or encounter any challenges while engaging with their services.
A trader from Forex Prop Firm has shared comprehensive feedback based on his firsthand experience with the platform. He highlights the motivating factor of the 90% profit share, emphasizing that traders can confidently withdraw 90% of the profits they generate. Additionally, he commends the swift and round-the-clock customer service offered by the firm. Lastly, the trader appreciates the simplicity and clarity of Forex Prop Firm’s trading rules across all four funding models, which are crafted to support traders in their journey to success and mutual growth with the company.
Conclusion
