Proprietary Trading Firms USA | Proprietary Trading Reviews Firms In USA (2024)

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Best Forex Proprietary Trading Firms In The US

Do you know that successful US prop traders can make $200k+ annually by trading with top Prop trading firms in the USA?

Surge Trader

Surge Trader is a relatively new US-based proprietary fund offering its clients many trading instruments. It is a global proprietary trading firm, so you do not need to be in the US to trade with them. This firm operates two platforms: Eightcap MT4 and Eightcap MT5. These platforms contain different analytical tools and easy-to-use features in their dashboard.

Checklist Overview

Headquarters: Florida, USA
Website: https://www.surgetrader.com/
Launching period: 2021
Trading Instruments: Forex, equities, major stock market indices, oil, metals, cryptos
Profit Sharing: 75%
Registration Fee for Qualification Challenge: $250 – $6,500 (Non-refundable)
Profit target for Qualification Challenge: 10%
Risk limits: 4% daily loss limit, 5% max drawdown, news trading allowed, overnight positions allowed, and no weekend positions allowed.
Trading capital range: $25,000 – $1 million
Education: There is a blog with educational content for new traders along with a membership option with BK Forex, where new traders can learn from popular trading experts — Boris Schlossberg and Kathy Lien.
Remote Trading: Allowed
Reviews: 4.4 reviews on TrustPilot (out of 5)

Image Source – TrustPilot | SurgeTrader

E8 Funding

E8 Funding is another US-based proprietary firm that offers to fund Forex and CFD traders around the globe. It contains accounts of different features and welcomes both beginner and professional forex traders. The firm allows trading via the MT4 platform. This firm allows using up to 1:100 leverage depending on account size, so it may be more suitable for aggressive traders.

Checklist Overview

Headquarters: Dallas, TX, USA.
Website: https://e8funding.com/
Launching period: 2021
Trading Instruments: Forex, indices, commodities, metals, cryptos
Profit Sharing: 90%
Registration Fee for Qualification Challenge: $228 – $988 (Refundable)
Profit target for Qualification Challenge: 8% in phase 1 in 30 days, 5% in phase 2 in 60 days
Risk limits: 5% daily loss limit, 8% max drawdown from initial deposit, news trading allowed, overnight positions allowed, weekend positions allowed.
Trading capital: $25,000-$1,000,000
Education: None
Remote Trading: Allowed
Reviews: 4.8 reviews on Trustpilot (out of 5)

Image Source – TrustPilot | e8funding

TopTier Trader

TopTierTrader is another US-based proprietary firm that allows trading with no contributions initially from forex traders. It supports payments from many platforms and offers various free coaching and training programs to improve the trading skills of individual traders. Moreover, this firm has become popular as it allows holding overnight positions and enables news trading.

Checklist Overview

Headquarters: Dover, USA.
Website: https://toptiertrader.com/
Launching period: 2021
Trading Instruments: Forex, indices, commodities, cryptos
Profit Sharing: 80%
Registration Fee for Qualification Challenge: $255 – $999 (Refundable)
Profit target for Qualification Challenge: 10% in phase 1 in 30 days, 5% in phase 2 in 60 days
Risk limits: 5% daily loss limit, 10% max drawdown, news trading allowed, overnight positions allowed, weekend positions allowed.
Trading capital: $25,000-$300,000+
Education: None (Community Support via Discord available)
Remote Trading: Allowed
Reviews: 4.9 reviews on Trustpilot (out of 5)

Worth Mentioning – MyForexFunds

Among many other prop funds, MyForexFunds is a remarkable prop fund that allows traders who can show consistently good performance to access or trade with up to $2 million and split the profit. The rules of trading, qualifying, profit sharing, etc., are similar to other leading Prop funds like FTMO. This firm operates with approx. 80,000 traders around the world from 150 different countries. MyForexFund offers three different programs for its users by focusing on the experience level of the trader: Rapid, Evaluation, and Accelerated. They allow overnight and weekend holding positions.

Although they are not based in the US, they are a global firm that accepts US traders.

Checklist Overview

Headquarters: Toronto, Canada
Website: https://myforexfunds.com/
Launching period: 2020
Trading Instruments: Forex, cryptocurrencies, metal, and indices
Profit Sharing: Up to 85%
Registration Fee for Qualification Challenge: $99 – $2,450
Profit target for Qualification Challenge: profit target for Phase 1 is 8%. The profit target for Phase 2 is 5%. For Phase 3 (Live account), there is no profit target or minimum to withdraw.
Refund Rules: Refunds up to 112% of registration fees
Risk limits: 0 – 5% daily drawdown, 2- 12% overall monthly drawdown
Trading capital: $10,000 to $200,000
Education: Yes
Remote Trading: Allowed
Reviews: 4.9 reviews on Trustpilot (out of 5)
Leverage: 1:500 for Rapid accounts, 1:100 for Evaluation accounts, 1:50 for Accelerated Conventional accounts, and 1:100 for Emphatic accounts.

Image Source – Trust Pilot | MyForexFunds

Bottom Line

These are the top three proprietary firms for forex trading that operate in the United States but are accessible by global traders as well as users from US regions. Traders should focus on their checklists and key criteria before opting for the best prop trading firm for them.

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Proprietary Trading Firms USA | Proprietary Trading Reviews Firms In USA (2024)

FAQs

Which prop firm are legit? ›

#1 – Funder Trading

Funder Trading stands first in our list of the top prop trading firms in 2024 due to multiple reasons but notably it is the only prop trading firm that offers options funding and includes coaching for every trader signed up.

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Do prop firms really pay out? ›

There is nothing inherently scammy about the business model of prop firms. But how do they make money then? For starters, prop firms, of course, do not give money to just anyone who asks. Typically, they have a multi-stage evaluation process to make sure the traders they employ know what they are doing.

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Is trading with a prop firm worth it? ›

Pros: Rewards

The biggest reason traders consider a prop firm is access to more capital and keeping a high percentage of the profits. The structure a prop firm gives. Profit targets and risk management rules help traders succeed because they provide an external structure they cannot ignore.

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Are prop firm accounts real? ›

Yes, proprietary (prop) trading firms are real. They trade financial markets using their own capital.

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Which prop firm offers instant funding? ›

FTUK is a reputable prop firm with instant funding accounts, which attracts seasoned traders who want to access large trading capital without a lengthy evaluation process. The funding range is from 14k to 5 million USD with a profit share of 80% and maximum leverage of 1:100.

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Which prop firm has the lowest fees? ›

Best cheap forex prop firms

FTMO: evaluations starting at $399.
TopStepTrader: Challenges starting at $375.
T4tCapital: Flexible evaluation options starting at $299.
Funded Trading Plus: Starting at $25.
Earn2Trade: $99 Mini challenge.
True Trading Group: $49 evaluation with a $25,000 virtual account.

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Feb 27, 2024

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What happens if you lose money in a prop firm? ›

Proprietary trading firms often provide evaluation accounts where you prove your trading skills. Usually, you pay a one-time fee to enter this "challenge." If you lose money during this evaluation, you won't owe anything beyond the initial fee.

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How many people pass funded accounts? ›

5-15% pass rate

Across account levels, probably only around 5-15% of traders ultimately pass funded account evaluations at firms like FTMO and pass verification phases to trade with investor capital.

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What is the success rate of prop firms? ›

The Success Rate Of Prop Firm Traders

Therefore, the assertion that about 95% of traders fail is not far from being true! We can then conclude that there is only about a 5% success rate among prop firm traders.

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How do prop firms pay you? ›

Traders at prop firms can earn a portion of the profits they generate, and some may also receive a base salary or other incentives. Here are some factors to consider: Access to Capital: Prop trading firms provide traders with access to significant capital, enabling them to take larger posi.

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Can you make a living with prop trading? ›

Prop trading can be lucrative, with earnings tied to a profit-sharing ratio. Unlike traditional brokers relying on commissions, prop traders' income directly links to generated profits. Ratios vary, often ranging from 75/100 to 90/100, offering flexibility based on experience and strategy.

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Where do prop trading firms get their money? ›

Commission: Prop firms may charge a commission on each trade made by their traders. Profit Split: In some cases, prop firms may take a percentage of the profits earned by their traders as a form of compensation. Training Fees: Some prop firms offer training programs for new traders, which may come at a cost.

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How many people fail prop firms? ›

Historically, retail prop firm challenges have been designed to set traders up to fail. They're given harsh targets, limited time, no support, and huge leverage – a perfect storm! It's not surprising that 95% of traders fail their challenges!

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Do prop firms track IP address? ›

IP Address Tracking: Prop firms can track the IP addresses associated with trading accounts. If multiple accounts are consistently accessed from the same IP address, it may raise suspicions of using one device for multiple accounts.

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Should you join a prop firm? ›

Joining a prop trading firm can provide access to cutting-edge technology and resources that individual traders may not have. Additionally, being part of a team can offer valuable mentorship, networking opportunities, and collaboration with like-minded professionals.

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Are online prop firms legit? ›

While these laws applied to banks, not all independent prop companies in operation today are covered by the Volcker rule. Prop businesses nowadays are utterly unregulated and far apart from the banking industry. As a result, these internet prop companies are legitimate and not a fraud.

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How do I choose a prop trading firm? ›

Don't just pick the first prop trading firm you find. Choose one with a good reputation, support for traders, good tools, safety measures, fair costs, and a friendly community. This way, you can trade smarter and have a better chance at success.

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Are there any regulated prop firms? ›

OANDA is the latest one to launch prop trading under the brand, OANDA Labs Trader. OANDA, Axi, and Hantec Markets are a few names offering prop trading services and their conventional brokerage services. Interestingly, all these brokerages offer prop trading services under their offshore regulated entities.

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Is FTMO the best prop firm? ›

FTMO Investment Options

One of the main reasons why FTMO is a good prop firm is their investment options. They offer traders the opportunity to trade with their own capital, as well as access to additional capital from FTMO.

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