The foreign exchange (Forex) market is the largest and most liquid market in the world with over $6.6 trillion traded daily. Prop firms provide funding, technology, and support to Forex traders looking to tap into these massive markets without risking their own capital.
In this post, we will explore the 10 best prop firms for Forex traders based in the UK.
List best Forex Prop Firms in 2024
✅The5%ers Open An Account
✅FTMO Open An Account
✅The Forex Funder Open An Account
✅True forex Funds Open An Account
✅ E8 Funding (E8 Markets) Open An Account
✅ Fidelcrest Open An Account
✅LuxTradingFirm Open An Account
✅ Sabiotrade Open An Account
10 best Forex Prop Firms in UK Review
FTMO
Overview
FTMO (Funds To My Account) is one of the most well-known and largest prop firms in the world. Founded in 2019, they now fund over $400 million to over 30,000 funded traders worldwide.
FTMO offers funding starting from $2,000 to $200,000 per account. You can get funded in as little as 1 month and keep up to 90% of your profits.
Company
FTMO is headquartered in Prague, Czech Republic. However, they have account managers and support staff available 24/5 in multiple languages.
FTMO serves clients in over 150 countries. For UK traders, they offer dedicated IBAN accounts in GBP.
Tradable Assets
At FTMO, you can trade major, minor and exotic currency pairs as well as gold, silver, oil and indices. Popular pairs include EUR/USD, GBP/USD, USD/JPY, USD/CAD and more.
They offer tight spreads starting from 0 pips on the Razor account.
Profit Split
With the FTMO Challenge, you can get a funded account by passing a demo challenge. There are two challenge levels - $50,000 or $100,000.
Once funded, you keep 80% of your profits. FTMO takes a 20% fee, up to a maximum of $10,000 per month.
Benefits
Overall, FTMO is one of the top prop firms in the UK for Forex traders looking for a reputable company with high funding limits and competitive profit splits.
Funded Trading Plus
Overview
Funded Trading Plus is a UK-based prop firm that provides Forex traders access to funding of £15,000 to £150,000 per account. They have a strong focus on trader development and community.
Company
Funded Trading Plus launched in 2021 and is headquartered in London, UK. Despite being a newer firm, they have already funded over £3.7 million to traders worldwide.
They have an office in London that serves as an education hub and trading floor with dedicated trading mentors. This allows for in-person support and networking for funded traders.
Tradable Assets
You can trade major, minor and exotic currency pairs with tight spreads starting from 0 pips. Commodities like gold and oil are also tradable.
They offer access to fast ECN execution on MetaTrader 4/5 platforms.
Profit Split
There are two challenge levels - £15k and £150k. The first £5,000 of profits are yours to keep. Additional profits are split 70% to you, 30% to Funded Trading Plus.
There are no monthly or annual management fees. You pay the split only when you profit.
Benefits
For UK Forex traders looking for high funding limits and a local prop firm experience, Funded Trading Plus is a top choice. The London office and professional mentors provide valuable growth opportunities.
Apex Trader Funding
Overview
Apex Trader Funding is a UK prop firm that provides Forex traders access to accounts from £10,000 to £100,000 in funding. They have a streamlined and transparent funding model.
Company
Based in Liverpool, UK, Apex Trader Funding was founded in 2021 by a team of experienced traders. Despite being new, they have quickly funded over £3 million to hundreds of traders.
They focus on creating a professional trading environment through technology, tools, and community.
Tradable Assets
At Apex Trader Funding you can trade major, minor and exotic currency pairs with institutional grade execution.
Popular pairs include EUR/USD, GBP/USD, AUD/USD, USD/CAD, USD/JPY and many more. Gold, oil and indices are also tradable.
Profit Split
There are two account levels - £10k and £100k. The evaluation lasts 30 days and needs a minimum of 10% profit to pass.
Once funded, you keep 75% of profits, while Apex takes a 25% fee. There are no monthly management fees - you only pay when you are profitable.
Benefits
Apex Trader Funding is a newer but rapidly emerging prop firm based in the UK. Their transparent process and focus on technology makes them a top choice for Forex traders.
FX2 Funding
Overview
FX2 Funding offers Forex traders access to accounts ranging from $5,000 to $200,000+ in funding. They have a strong educational focus and provide proprietary trading signals.
Company
FX2 Funding was founded in 2021 and is based in Manchester, UK. Despite being newer, they have already funded over $3.2 million to hundreds of traders globally.
The company was founded by traders and focuses on creating real-world professional traders through hands-on education.
Tradable Assets
You can trade major, minor and exotic currency pairs with institutional grade spreads starting from 0 pips.
Commonly traded pairs include EUR/USD, GBP/USD, USD/JPY, AUD/USD, USD/CAD and more.
Profit Split
There are three account levels available based on your experience - $5k, $50k and $200k+. The combine lasts 30 days.
Once funded, you keep 75% of net profits. FX2 Funding takes a 25% fee, with no additional monthly fees.
Benefits
FX2 Funding is one of the top prop firms in the UK for traders looking for real-world education and access to proprietary trading tools. The high funding limits also appeal to experienced traders.
The5ers
Overview
The5ers offers a unique team-based prop firm model, providing funding starting from $50,000 per team. Traders can join an existing team or start their own.
Company
Founded in 2016, The5ers was the first UK prop firm to introduce a team-based model. They now have over 300 funded traders and 40 teams on their platform.
The company focuses on creating a collaborative trading environment and encouraging healthy competition between teams.
Tradable Assets
At The5ers you can trade major, minor and exotic Forex pairs. Popular currencies include EUR/USD, GBP/USD, USD/JPY, AUD/USD and USD/CAD.
They offer tight spreads and fast ECN execution through their partner brokers.
Profit Split
Once your team passes the remote audit, you are provided with a $50,000 funded account. Additional funding can be earned through profit milestones.
Profits are split 50/50 between the team and The5ers. Traders then split their share based on an agreement within the team.
Benefits
The5ers offers a highly unique team prop firm model for traders looking for a collaborative environment. The team structure provides benefits traditional firms cannot.
Tradiac
Overview
Tradiac provides Forex funding accounts from $5,000 up to $1,000,000+ for experienced institutional traders. They focus on transparency and offer a revenue share model.
Company
Tradiac launched in 2020 and is based in London, UK. The core team has extensive trading and fintech experience from firms like Citadel, Tower Research, and Merrill Lynch.
The company aims to disrupt prop trading through complete transparency, aligning incentives between firm and trader.
Tradable Assets
You can trade all major, minor and exotic currency pairs with institutional grade spreads and execution through Tradiac.
Popular pairs include EUR/USD, GBP/USD, USD/JPY, AUD/USD, NZD/USD and many more.
Profit Split
Instead of a profit split, Tradiac offers a transparent revenue share model. Traders get 80% of trading commissions and exchange rebates.
The more you trade, the more you earn. There are no monthly fees - you pay 20% revenue share only when you earn commissions.
Benefits
For experienced traders seeking high funding limits and transparency, Tradiac is a top UK prop firm. Their revenue share model also makes them unique.
FXIFY
Overview
FXIFY provides Forex traders access to funding accounts from $1,000 up to $300,000. They have a global team and focus on creating a collaborative trading environment.
Company
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FXIFY was founded in 2020 in London, UK and has quickly grown to fund over $7 million. They now have team members and funded traders in over 15 countries.
The company focuses on transparency, technology, and community to disrupt the prop firm industry.
Tradable Assets
You can trade major, minor and exotic Forex pairs with tight spreads starting from 0 pips.
Popular currencies include EUR/USD, GBP/USD, AUD/USD, USD/CAD, USD/JPY and more.
Profit Split
FXIFY offers three account levels based on experience - $1k, $10k, and $100k. Larger accounts are available upon request.
Once funded, you keep 75% of net profits. FXIFY takes a 25% fee with no additional monthly charges.
Benefits
For traders seeking a worldwide community and access to next-gen trading tools, FXIFY is a top UK prop firm. Their collaborative approach and large funding sizes appeal to serious traders.
SurgeTrader
Overview
SurgeTrader provides funding accounts from $5,000 to $1,000,000+ for Forex traders globally. They focus on transparency and have funded over $300 million to date.
Company
SurgeTrader launched in 2015 and is based in London, UK. Led by a team of traders, risk managers and technologists, they now serve over 4,500 funded traders worldwide.
They aim to provide complete transparency and the highest profit splits in the prop firm industry.
Tradable Assets
You can trade major, minor and exotic currency pairs with institutional-grade execution. Tight spreads and fast ECN infrastructure improve trading performance.
Profit Split
SurgeTrader offers account sizes from $5,000 to over $1,000,000. Traders keep up to 90% of net profits, with the remaining going to SurgeTrader.
There are no monthly fees, desk fees, or hidden costs - you only pay when you profit. Complete transparency is guaranteed.
Benefits
For Forex traders looking for the highest profit splits and funding over $1 million, SurgeTrader is a top UK prop firm. Their transparency and trading technology set them apart.
OFP Funding
Overview
OFP Funding provides Forex traders access to accounts from $5,000 to $500,000 in funding. They focus on transparency, technology, and trader education.
Company
Founded in 2021 and based in London, UK, OFP Funding takes a modern approach to prop trading. Their team has extensive trading experience across hedge funds, prop firms, and investment banks.
OFP aims to provide institutional-grade infrastructure while maintaining flexible trader agreements.
Tradable Assets
You can trade all major, minor and exotic Forex pairs with ECN execution and tight spreads starting from 0 pips.
Top pairs include EUR/USD, GBP/USD, USD/JPY, AUD/USD, NZD/USD and more.
Profit Split
OFP Funding offers starting accounts of $5,000, scaling up to $500,000 based on trader performance. Profit splits start at 80/20 and increase to 95/5 in the trader's favor.
There are no monthly fees - you only pay a split on your net profits. Complete transparency is guaranteed.
Benefits
For traders who prioritize fair profit splits and education, OFP Funding is a top UK prop firm. They create a transparent trading environment focused on your success.
Top Tier Trader
Overview
Top Tier Trader provides Forex and crypto traders access to funding accounts from $10,000 up to $1,000,000+. They focus on transparency and offer some of the highest profit splits.
Company
Founded in 2019, Top Tier Trader is based in London, UK. Despite being newer, they have already funded over $77 million to 700+ traders worldwide.
Led by a team of traders, they aim to provide the best trader agreements with up to a 95% payout on net profits.
Tradable Assets
You can trade major, minor and exotic Forex pairs as well as cryptoassets like Bitcoin, Ethereum, and more against the US Dollar.
Institutional-grade liquidity ensures tight spreads and fast execution.
Profit Split
Accounts range from $10,000 to over $1 million based on trader performance. Profit splits start at 80% for the trader and can reach up to 95% in your favor.
There are no monthly fees - you pay a split only when you are profitable for the month.
Benefits
For Forex and crypto traders seeking the highest profit splits, Top Tier Trader is one of the best prop firms in the UK. Their generous payouts appeal to serious, high volume traders.
Frequently Asked Questions
Is Prop trading legal in UK?
Yes, prop trading is legal in the UK. Prop firms operate within UK financial regulations when providing trading services to aspiring forex traders. Some key regulations include:
As long as prop firms adhere to relevant UK regulations, prop trading is a legal and viable path for those seeking to become professional forex traders. The regulatory system helps provide trader protections.
How Do Prop Firms Make Money?
Prop firms generate revenue in two main ways:
In both cases, prop firms make money when their traders are profitable. Other potential revenue sources include:
The profit split model aligns incentives so prop firms are motivated to equip and support funded traders. Top prop firms succeed when their traders succeed.
What is the Failure Rate of Prop Traders?
Estimates vary, but the failure rate for new prop traders is quite high. Conservative estimates range from 80-95% of beginning traders ultimately failing. Reasons include:
However, prop firms provide extensive training, mentorship, and risk controls designed specifically to improve trader success rates. Traders backed by a prop firm's infrastructure have a much better chance of beating the high failure rate for independent traders. Still, dedication, discipline, and mental toughness are required.
What is Prop Trading?
Prop trading refers to a model where aspiring traders join an established firm to receive training, mentoring, capital backing, and access to professional trading infrastructure.
The "prop" stands for proprietary trading, meaning the firm (and sometimes experienced traders) provides funding or trading capital to newer traders. However, the traders are trading firm capital, not their own. They must pass an audition process first.
In exchange for firm backing, profitable prop traders share a percentage of their trading gains with the firm. Specific arrangements vary, but profit splits around 80/20 are common.
Prop trading helps facilitate the transition from novice to professional trader. Working under a prop firm helps mitigate risk while learning best practices from veteran traders, coaches, and mentors. The structured environment provides invaluable experience.
Who Should Try Prop Trading?
Pursuing trading via a prop firm is best suited for determined individuals with an interest in the financial markets. Ideal candidates include:
Prop trading welcomes driven individuals with the motivation to treat trading like a business, not a hobby. Key attributes include risk tolerance, personal accountability, patience, and a performance mindset. A logical, analytics-driven personality suited to markets also helps.
Prior finance experience is great but not required. With proper dedication, prop trading skills can be learned by most people. The right mindset is crucial.
Benefits of Prop Trading
Pursuing a trading career through a proprietary trading firm provides many potential benefits:
Funding
Infrastructure
Training
Support
Risk Management
Reduced Stress
How does prop trading work?
The prop trading process involves three main phases:
Audition / Hiring Phase
Training / Funded Phase
Profit Splitting / Lifetime Phase
The three phases allow traders to earn larger backing as their skills grow. The prop firm's training and infrastructure provide support along the journey to becoming a consistently profitable trader.
Is prop trading profitable?
Profitability depends greatly on the trader. Prop trading provides the infrastructure, training, and risk management support needed to help traders reach consistency. However, every trader progresses at a different pace based on skills, dedication, and market conditions.
It's reasonable to expect 2-3 years of training and skill development are needed before a trader generates consistent profits trading a firm account. Prior experience shortens this curve considerably. The right prop firm provides guidance to shorten the learning curve.
Once a trader reaches consistent profitability, the revenue splitting arrangement becomes advantageous. With a typical 80/20 split, a trader only needs to generate annual profits of £250,000+ to earn a six-figure income (£200,000 after the split). Higher profitability translates to higher pay.
Conclusion
The top Forex prop firms in the UK offer funded accounts from $1,000 up to over $1 million to suit traders at every career stage. Leading firms provide institutional-grade infrastructure, advanced trading tools, and responsive support.
When choosing a prop firm, consider factors like funding limits, profit splits, tradable assets, company transparency, and trader community. Align the firm's offerings with your trading style, experience level, and goals.
The firms profiled above are excellent options for UK-based Forex traders ready to take their skills to the next level with prop firm funding.
