Prop Firms Review - Top 10 - PropTrading.online (2024)

• Introduction
• #1 – 5ers
• #2 – FTMO
• #3 – My Forex Funds
• #4 – Traders with Edge
• #5 – The Funded Trader
• #6 – Top Tier Trader
• #7 – Lux Trading Firm
• #8 – SurgeTrader
• #9 – BluFX
• #10 – BouyTrade

Choosing a prop firm to trade with can be a difficult task. The industry has been growing rapidly over the past 3 to 5 years and new prop firms are now popping up every month. The purpose of this list (and website in general) is to allow you to make the most informed choice for your trading style and to avoid scam companies.

When deciding who goes on this list we look at a number of factors including:

• Great intuitive UI– Both the website and user dashboard are easy to understand and navigate. The dashboard metrics panel is also very user friendly, containing all the important information without the fluff.
• Great Support–I personally haven’t came across any issues which required support, however they have a great reputation of providing top tier support as evident from Trustpilot reviews, Social media and YouTube.
• Three completely different funding models– Instant funding, Bootcamp and freestyle. All the models have their own pros and cons, but all stand out among the crowd and offer great incentives for the successful trader.
• Great scaling plan– No nonsense approach to scaling, simply hit your target and get a bigger account! One of the fastest growth plans around.
• Quick and easy sign-up–Simply pick your model, pay your fee and get instant access to your dashboard and trading account.

• Relatively low max drawdown– The max drawdown for the instant funding program is around 4% which is general lower compared to other firms. Therefor this firm is more suited for the very risk aware trader.
• Below average payout ratio– The payout ratio for the instant funding account is 50% which on the surface seems rather low; however when you consider the rapid growth plan the potential profits could be much higher than others. New models also offer up to 100% profit share!

• Many Base Currencies – FTMO offer accounts in a number of different currencies while most other firms offer only US dollars.
• Been around a long time –FTMO lead the way for the prop firm industry. Their 2 phase challenge model has been replicated by dozens of firms. This experience and reputation is certainly a reason why so many people sign up to FTMO as their prop firm of choice.
• Great Payout Split– As soon as you receive your funded account you will benefit from an 80/20 payout split (In your favor). After 4 months if you have been consistently profitable, not only will your account increase, you will receive a 90% profit split also!
• CTrader!– FTMO is one of the few prop firms that allow you to use CTrader. CTrader is an excellent platform for manual trading, packed filled with features and has a great UI.

• News Trading –FTMO does not allow trading around the news (2 minutes either side). This will inevitably catch out less experienced traders or those who don’t follow the fundamentals as closely.
• Slow Scaling– Accounts are only able to scale every 4 months, based on performance. Some other firms offer scaling at every 10% profit intervals or such. This can be countered by purchases more accounts, however the maximum capital allocation is set at $400k.

• Choice of funding models:My forex funds has a great choice of funding models ensuring there’s something suitable for every skill level of trader.
• Reputation:This prop firm has a great reputation in the industry, make sure to check out the CEO interview on YouTube.
• Trading Rules– My Forex Funds stands out with the rules, they truly allow the trader to make their own choices without placing limitations on them.
• Community– An active discord server with helpful traders supporting each others journey.
• Dashboard – Easy to understand dashboard and overall well designed front end systems.

• Support– Due to the huge amount of traders on this platform, support can sometimes be a little slow. This isn’t too much of an issue as most problems can be solved by popping into the discord server or checking the FAQ.
• Expert Advisors– Confusing rules on EA’s. They appear to be allowed in very specific situations or with prior approval.

• Cost– They have extremally competitive prices and are currently running a 20% off promotion (After completing short pop up survey)
• (Almost) No Time Limit challenge– Their turtle challenge has 12 whole months in which to reach the 10% profit target!
• Fast Support – I was connected to live chat within seconds whowere helpful, polite and answered any questions I had.

• New Company– Being a new company there isn’t a lot of reviews and feedback to analyze. This is likely to change soon as the company grows.
• Minimum Trading Days – They have a rule which might catch a few traders out; The minimum trading days cannot be filled with very small trades like FTMO and others. Traders must continue to trade their strategy as normal despite hitting the profit target.

• Great Community –The team at the funded trader has built a strong community in both their discord and by in person events. They regularly have meet ups and even fly top traders out to Vegas for conventions.
• Regular and exciting competitions –The funded trader always has at least one or two competitions on at a time – from chess tournaments, poker tournaments and traders competitions, all with real prizes.
• Well functioning website and dashboard –The guys at the funded trader have clearly put a lot of work into creating a nice, clear and intuitive website and dashboard UI. This takes one less stress away for traders.

• Cheaper options – Whilst the prices are typically not too bad, their are cheaper alternatives out their.
• Potential broker issues – Some reviewers have described issues with the broker such as lag issues.

• Refundable fee – After passing the challenge the entire challenge fee is returned to the trader.
• Free monthly competition – Top Tier Trader runs a trading competition open to everyone, every month. The top 3 traders will win a free challenge with the opportunity to receive $200k of capital absolutely free!
• Good reputation – Top Tier Trader has a good reputation regarding paying traders on time, every time. You can feel comfortable that if you pass your challenge you can earn some real money.

• Nothing unique – Whilst this prop firm offers nothing in the way of instant funding or other exciting models, it’s standard model is great for those who just want the standard “FTMO” challenge.
• Prices higher than average – Prices for this prop firm are typically slightly above those of its competitors, this could be a small price to pay if this firm aligns better to your trading strategy however.

Best suited for:This firm has a great mentorship/educational aspect to it. Therefore it will suit a newer trader who is looking to grow and progress into a successful trader.

Overall Ratings

• Models on offer: 7/10
• Cost: 7/10
• Rule Fairness: 9/10
• Support: 9/10
• Profitability: 8/10
• Scaling System: 9/10
• Overall: 8.5/10

• Strong education element – Lux trading has strong educational support for its traders including in person workshops, dedicated risk desks, webinars and tons of material to read through.
• Great for UK traders – Based in London, Lux trading can be an attractive option for UK traders.
• Has exciting “Elite program” – The Elite packages that Lux trading has to offer are not seen anywhere else. Get flown out to their base in the beautiful Porto Montenegro for a week long trading learning experience. Meet investors, see and experience the real trading environment and meet new people in the industry.
• Tailored support – When reaching the professional stage, you will be assigned a personalized risk desk. This experience trader will help you keep on track by monitoring and advising on your risk management strategy and how well it’s performing.
• No Time Limit – Lux Trading is one of the few prop firms that offers no time limits to complete your evaluation. This truly allows traders to trade using their strategy without the added pressure of time restraints.
• Can Scale to over $10 Million! – Scaling occurs every 6% and the account is doubled (or more) every time! By starting with a $15k challenge, you can scale to $2.5 Million in just 5 stages. This is unseen anywhere else in the online prop trading industry.

• 4% Max drawdown – When handling such large amounts of capital even 1% loss could be tens of thousands of dollars. With this, Lux trading only allows a maximum of 4% loss, which means traders must be exercise a well designed risk management strategy. This is something Lux trading will help every trading with though.
• 29 Minimum trading days – If your looking for a prop firm to gamble with or if your strategy is extremally aggressive, this properly isn’t the prop firm for you. Traders must trade for a minimum of 29 days to pass the evaluation and 49 days for each stage at the professional level.
• Consistency rules – This ties into the last point. During the 29 minimum trading days, the lot size and risk should not change dramatically, just to pass the challenge.

Best suited for:This prop firm offers huge accounts from the get go, all the way up to $1 Million. They only require a single phase challenge with no minimum days. This firm would suit an experienced trader who wants large capital fast.

Overall Ratings

• Models on offer: 7/10
• Cost: 8/10
• Rule Fairness: 8/10
• Support: 9/10
• Profitability: 10/10
• Scaling System: 8/10
• Overall: 8.5/10

• Large initial capital – With Surgetrader you can opt for a huge account of $1 million, without the need to scale up to it.
• Single Phase Challenge – All the funding programs that Surgetrader offer are single phase, simply hit the 10% profit target whilst remaining within the rules and get funded.
• 20% discount on reattempts – This prop firm offers a generous 20% discount if you fail the challenge for any reason. This is certainly one of the best in the industry.
• Lots of instruments to choose from – Surgetrader has a great range of tradeable instruments including: Forex, Indices, Metals and Energy, Crypto and individual stocks.

• Trailing total drawdown – This prop firm has a 5% trailing overall drawdown. whilst experienced traders may not find this an issue, newer or less skilled traders may will certainly struggle with this.
• Max lot size restrictions – Surgetrader has a policy restricting the maximum lot size traders are allowed to open. Whilst the lot sizes are quite generous it may restrict some trading systems, such as scalpers.

CATION ALERT! – Some traders have been having negative experiences with this firm lately.

Best suited for:Blue FX is a subscription based prop firm with low leverage and a 50/50 profit split. They offer CTrader which many traders prefer to Metatrader.

Overall Ratings

• Models on offer: 7/10
• Cost: 7/10
• Rule Fairness: 7/10
• Support: 8/10
• Profitability: 6/10
• Scaling System: 8/10
• Overall: 7.8/10

BluFX offers a rather unique method of funding traders. Their standard model is a subscription based model in which the trader pays a monthly fee in return for a live funded account. This eliminates the need for a “challenge” and gives the trader access to direct funding immediately.

They also offer a “anniversary package” which is a special account available for a limited time with some great features. The trader pays a very reasonable one-time fee in return for a live funded account.

• Low initial outlay – To get $25,000 of trading capital you only need to pay for the first months subscription which starts at £99. This is significantly lower than other prop firms.

• Subscription model – You must pay a monthly fee to trade with this capital. You also need to reach 5% to withdraw any profits, this means you may need to outlay 1/2/3 months of subscription before withdrawing any profit.

Best suited for:BouyTrade offers an exciting instant funding model with rapid scaling. This would suit traders who want to start earning fast.

Overall Ratings

• Models on offer: 6/10
• Cost: 8/10
• Rule Fairness: 8/10
• Support: 9/10
• Profitability: 9/10
• Scaling System: 10/10
• Overall: 8.5/10

• Very fast scaling – Option to double your account at every 5% profit (at the expense of a profit split) or every 10% (with a profit split).

• High cost/ Low starting capital – The starter account begins on just $1000 which is among the lowest in the industry. This is offset however with the fast scaling on offer.