Best prop firm

Best prop firm

Best Prop Firms in 2023: A Comprehensive Guide

Proprietary trading firms (prop firms) offer traders the opportunity to trade using the firm's capital, in exchange for a share of the profits. Prop trading is a popular career choice for many aspiring traders because it provides access to significant capital without requiring personal risk. However, not all prop firms are created equal. Some provide better conditions, support, and educational resources than others. This article will explore the best prop firm in 2023, considering factors like funding, training, profit sharing, and overall reputation.

1. FTMO

FTMO is one of the most recognized and respected prop trading firms globally. Known for its rigorous evaluation process, FTMO offers both forex and CFD traders the opportunity to trade with a high level of capital.

·         Funding: FTMO provides traders with the chance to manage accounts ranging from $10,000 to $200,000.

·         Profit Sharing: Traders can keep 70-80% of the profits they generate.

·         Evaluation Process: Traders must complete a two-phase evaluation (the FTMO Challenge and Verification) before receiving funding. While the process is demanding, it ensures that only skilled traders are given access to substantial capital.

·         Training and Support: FTMO provides educational resources and a community where traders can discuss strategies and share insights.

Why FTMO is the Best:
FTMO has a solid reputation for offering one of the most transparent and structured evaluations. Their platform is user-friendly, and their risk management rules are strict but fair. Additionally, their profit-sharing model is favorable, allowing traders to earn significant returns.

2. TopStep

TopStep is another well-known prop firm that caters to futures traders, with a primary focus on risk management and trader education.

·         Funding: TopStep offers funding in futures contracts, with account sizes ranging from $50,000 to $150,000.

·         Profit Sharing: Traders can keep 80% of their profits.

·         Evaluation Process: Similar to FTMO, TopStep requires traders to complete a simulation phase, where they must prove their trading skills without taking excessive risks.

·         Training and Support: TopStep offers a comprehensive education program, including webinars, blogs, and personal coaching sessions. They are especially known for their commitment to trader education.

Why TopStep is the Best:
TopStep’s evaluation process is a bit more relaxed compared to others, which is ideal for newer traders looking to build experience. Their focus on futures trading and commitment to educating traders makes them a great choice for those interested in this asset class.

3. The5ers

The5ers is a popular prop firm that specializes in forex trading. It is known for offering a low-risk way for traders to access large capital.

·         Funding: Traders can be funded with up to $200,000, and there is no time limit for completing the evaluation.

·         Profit Sharing: The5ers provides a generous profit-sharing model, with traders keeping 50-75% of their profits, depending on the account size.

·         Evaluation Process: The evaluation process is based on consistent profit growth, with no hard limits on time or risk per trade, which offers more flexibility for traders.

·         Training and Support: The5ers offers educational resources, including webinars, trading plans, and a dedicated support team to help traders grow.

Why The5ers is the Best:
The5ers stands out for its flexible evaluation process, which allows traders to progress at their own pace. This makes it ideal for traders who want to work at their own speed and minimize risk.

4. OneUp Trader

OneUp Trader is a rapidly growing prop firm, well-regarded for its fair and transparent evaluation process, especially for futures traders.

·         Funding: OneUp Trader offers futures trading accounts with funding up to $250,000.

·         Profit Sharing: Traders receive a substantial 80% of profits, which is one of the best rates in the industry.

·         Evaluation Process: OneUp Trader offers a two-phase evaluation process, where traders must meet profit and risk management targets.

·         Training and Support: OneUp Trader provides comprehensive resources for traders, including educational materials, risk management guides, and real-time trading coaching.

Why OneUp Trader is the Best:
OneUp Trader offers an attractive profit-sharing model and a simple evaluation process. The firm’s flexibility, combined with a high funding potential, makes it a great choice for aspiring traders looking to grow their portfolios.

5. Maverick Trading

Maverick Trading stands out as a well-rounded prop firm that caters to both options and stock traders. They offer various risk management options and account types.

·         Funding: Mavericks offer traders access to $25,000 to $1 million in funding, with the firm focusing more on options and equities.

·         Profit Sharing: Profit sharing typically ranges from 60% to 80%.

·         Evaluation Process: Maverick Trading has a detailed vetting process that includes interviews, personality assessments, and trading evaluations. It is more selective, ensuring that traders who make it through have the proper mindset and trading skills.

·         Training and Support: They offer an extensive training program with courses, personal coaching, and mentorship to help traders develop their skills.

Why Maverick Trading is the Best:
Maverick Trading’s reputation for high-level training, combined with the opportunity for traders to access large capital, makes them ideal for experienced traders looking to refine their skills further.

6. SurgeTrader

SurgeTrader is a relatively new prop firm, but it has rapidly gained recognition for its straightforward evaluation process and attractive profit-sharing scheme.

·         Funding: SurgeTrader offers up to $200,000 in funding, with a focus on forex, commodities, and indices.

·         Profit Sharing: SurgeTrader offers a competitive 75-90% profit share, depending on the account size.

·         Evaluation Process: SurgeTrader's evaluation process is fast and flexible, requiring traders to meet profit targets and adhere to risk management rules. It offers a low-risk, high-reward environment.

·         Training and Support: SurgeTrader provides educational webinars, guides, and customer support to ensure traders have the resources they need to succeed.

Why SurgeTrader is the Best:
SurgeTrader’s transparent evaluation and high profit-sharing potential set it apart. Their focus on giving traders quick access to capital without long waiting periods is a major advantage for those eager to start trading.

Conclusion

When it comes to choosing the best prop firm, the right choice depends on the trader’s goals, risk tolerance, and preferred asset class. FTMO, TopStep, The5ers, OneUp Trader, Maverick Trading, and SurgeTrader are all excellent options, offering different strengths in terms of capital allocation, profit sharing, training, and support.

·         For forex traders: FTMO and The5ers offer excellent options.

·         For futures traders: TopStep and OneUp Trader shine with their robust funding options and support.

·         For experienced traders looking for mentorship and flexibility: Maverick Trading and SurgeTrader stand out with their personalized training programs.

Ultimately, the best prop firm for you will depend on your trading style and objectives, so it’s important to research each firm carefully, try out their demo or evaluation accounts, and make an informed decision.