Best Funded Forex Trading Accounts 2024

Jeremy Biberdorf Image
Updated
Jun 18, 2024
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Quick Breakdown

Best Funded Forex Accounts


  • Best for traders looking for education and a pathway to professional trading.

  • Best for traders looking for variety in assets and flexibility.

  • Best overall, especially for traders aiming for a structured trading environment.

  • Best for traders seeking flexible strategies and broad instrument options.

  • Best for transparent processes and direct consultation.
It’s not just about skill in forex trading. Even with talent, building wealth can take ages without enough capital. Imagine a 100% return on $100. That's only $200. Now, think about a 100% return on $100,000. That's a staggering $200,000!

Funded trading accounts, or prop firms, let you trade forex with borrowed money. This means more profit potential for skilled traders. Suddenly, success is within reach.

But with so many out there, finding the best funded forex trading accounts can be a chore. That’s where we come in. This article lists nine top-funded forex trading accounts to help you pick the best one for your needs.

The Best Funded Forex Trading Accounts in 2024

Earn2Trade

4.4 stars
Tradable Assets Futures, Forex
Profit Split 80%
Best For Futures traders
Benefits
Overview
Company
  • Comprehensive trading education with the "Beginner Crash Course"
  • Clear progression with the Gauntlet Mini and Trader Career Path
  • Access to top-notch trading platforms such as NinjaTrader and R|Trader Pro
  • Seamless transition to funded trading upon successful completion of the program
  • Strong community and customer support including webinars, forums, and live chat
  • No monthly fee for funded traders
  • Save 20% with our exclusive link!
Earn2Trade stands out as an educational platform tailored for futures traders. The company offers robust trading simulations through the Gauntlet Mini and the Trader Career Path, setting traders on a clear course to professional trading. The meticulous structure of these programs ensures that only those who can demonstrate consistent and skilled trading get the chance to handle funded accounts.

While Earn2Trade’s focus is strictly on futures trading, the depth and quality of its educational content, coupled with its strong ties to proprietary trading firms, make it a must-consider for any serious futures trader.

Earn2Trade is primarily an educational platform, but it’s so much more than just tutorials and lessons. They’ve integrated their educational content with a unique evaluation system. Once traders prove their skills in the virtual realm, Earn2Trade facilitates their transition into the world of professional trading by connecting them with proprietary trading firms like Helios Trading Partners and Appius Trading Limited.

With its roots firmly planted in trading education, Earn2Trade provides a host of features, such as the Journalytix tool for trade tracking and an extensive range of charting options. Their commitment to fostering a thriving community and top-tier customer support ensures traders are well-equipped and never alone on their journey.

Fidelcrest

4.3 stars
Tradable assets Forex, Stocks
Profit split Up to 90%
Evaluation Two-step Challenge
Best For Variety and flexibility
Benefits
Overview
Company
  • Funding up to $400,000
  • Lucrative 90% profit split
  • Diverse trading instruments
  • No hidden fees
  • Advanced platform technology
  • Continuous account growth opportunities
  • Robust training materials
  • Promo: Coupon Code MM-15 for 15% off
Fidelcrest stands tall with its impressive funding of up to $400,000, making it one of the go-to choices for ambitious traders. The platform champions transparency and offers diverse trading instruments, ensuring traders aren’t boxed into specific markets.

Its 90% profit split, favoring the trader, is one of the most attractive in the industry. Furthermore, Fidelcrest promises no hidden fees, ensuring that traders have clear expectations from the outset. The platform is technologically advanced, offering features that accommodate both novices and pros.

Not just a platform for trading, Fidelcrest invests in its traders. With a plethora of training materials, they ensure that traders have ample resources to hone their skills.

Fidelcrest, with its international presence, aims to redefine prop trading norms. Their commitment is not just to provide capital but to nurture, educate, and develop traders to achieve their best potential.

FTMO

4.7 stars
Tradable assets Forex, Indices
Profit split Up to 90%
Evaluation Structured Challenge
Best For Structured trading environment
Benefits
Overview
Company
  • Large funding up to $400,000
  • Up to 90% profit split favoring trader
  • No initial investment needed
  • Scalping & day trading allowed
  • Freedom in trading strategy
  • Flexible challenge evaluation
  • Supportive trader community
FTMO is a leading name in the prop trading world, known for offering traders an opportunity to manage capital up to $400,000. The platform’s design revolves around its challenge-evaluation process, which helps identify skilled traders without requiring them to make initial investments. Traders have the freedom to choose their trading strategy, be it scalping, day trading, or long-term, ensuring no unnecessary constraints.

The offered 90% profit split is quite attractive – allowing traders to retain a majority share of their gains. Additionally, FTMO provides an interactive platform, well-integrated with modern trading tools and charts. It's aimed at providing a seamless trading experience.

FTMO is not just about funded trading. It’s a community. Regular webinars, educational content, and active forums help traders stay updated, learn, and share their experiences.

Established in 2015, FTMO has rapidly ascended the ranks in the prop trading sphere. With its primary base in Prague, the company focuses on fostering and supporting trader talent worldwide.

SurgeTrader

4.4 stars
Tradable Assets Futures, Forex, Options, & more
Profit Split Up to 90%
Best For Flexible strategies
Benefits
Overview
Company
  • Transparent and simple trading conditions.
  • Flexibility across various trading strategies.
  • Potential for up to 90% profit split.
  • No mandatory trading days for autonomy.
  • Wide variety of trading instruments available.
  • Save 10% with our exclusive coupon code: modestmoney
SurgeTrader emerged from the combined efforts of an institutional trader, a venture capitalist, and a forex trader. Their shared vision was to create a prop firm that would strip away the complications often associated with obtaining trader funding. By offering a clear path to funding with transparent rules and minimal restrictions, they sought to redefine prop trading.

Now, SurgeTrader stands out as one of the most accommodating trading firms in the industry. From offering a staggering 90% profit split to allowing traders to use their chosen strategies without hindrance, the platform truly embodies flexibility and empowerment.

SurgeTrader, founded in 2021 and having offices in both Florida and Delaware, is a manifestation of CEO Jana Seaman's ambition to provide robust business support, which encompasses leadership coaching, capital provision, and operational management.

Interestingly, the inception of SurgeTrader took place over a meal in a sushi restaurant in Naples. Under Jana Seaman's leadership, who also gained recognition as one of Gulfshore Business's 40 under 40 in 2022, SurgeTrader has experienced exponential growth. This rapid expansion is evident from their 200% increase in employee count, burgeoning trader community, vast funding provisions, and impressive profit payouts.

Despite being relatively new to the prop trading arena, SurgeTrader has established itself as a formidable player, gaining traction due to its user-friendly approach, competitive fees, and advanced trading features.

City Traders Imperium

4.2 stars
Tradable assets Forex, Indices
Profit split Up to 100%
Evaluation Direct Consultation
Best For Transparency and consultation
Benefits
Overview
Company
  • Up to $2M funding potential
  • Comprehensive training courses
  • Flexible trading hours
  • You can reach up to 100% profit splits.
  • Multiple account sizes
  • Expert mentoring available
  • Tailored trader evaluations
  • Promo: Coupon Code CTI10% for 10% off
City Traders Imperium (CTI) is a heavyweight in the prop trading space, offering traders the potential to manage up to a staggering $2 million. CTI's approach is personalized – ensuring that trader evaluations are tailored to individual strengths and weaknesses. This tailored approach distinguishes them from many other platforms.

With the flexibility of trading hours, traders can operate when they feel most productive. Their profit split can be quite lucrative, allowing successful traders to keep a significant share of their earnings. Multiple account sizes mean CTI caters to a diverse range of traders – from beginners to seasoned professionals.

The platform’s emphasis on education and mentoring is commendable. Comprehensive training courses and expert mentoring sessions ensure traders are equipped with the best resources.

City Traders Imperium was conceived with a vision to create a platform that adapts to the trader rather than forcing conformity. As a London-based company, they've been pivotal in championing and nurturing trading talent globally.

Frequently Asked Questions

What is forex trading?

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Forex, short for foreign exchange, is the trading of currencies from different countries against each other. It's the largest financial market globally, with daily transactions surpassing 6 trillion dollars. Participants include everyone from central banks and financial institutions to individual traders. Currency trading is essential for international business and tourism, allowing countries to exchange goods and services using different currencies

Why opt for a funded forex trading account?

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Having a funded trading account means you're trading with borrowed funds, enabling you to handle larger positions than you could with your own capital. This amplifies potential profits but also losses. They're especially beneficial for skilled traders who may lack the substantial capital required to generate significant returns

How do prop firms benefit from offering funded accounts?

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Prop firms profit from splitting the gains made by their traders. While the trader gets access to larger capital and potentially bigger returns, the prop firm gets a share of the profits without directly engaging in trading.

Are there risks associated with funded accounts?

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Yes, as with all forms of trading, risks are inherent. While potential profits are magnified, losses are as well. If traders don't adhere to the rules set by the prop firm, they might lose their funded account. It's essential to understand all guidelines and requirements before starting.

How often can I expect payouts from prop firms?

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Payout frequencies vary among prop firms. While some offer monthly payouts, others might disburse profits quarterly or based on certain achievement thresholds. Always verify this detail with the specific firm.

What happens if I face consecutive losses in a funded account?

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Most prop firms have a "drawdown limit." If losses exceed this limit, the funded account might be halted or closed. Every firm will have its policies, so it's crucial to understand the terms of risk management in place.

Are there any initial fees or costs associated with opening a funded account?

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Some prop firms may charge an evaluation fee or a monthly platform fee, while others might offer a no-cost entry. Always clarify fee structures upfront to avoid surprises.

Do prop firms provide any training or mentorship?

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Many prop firms recognize the value of well-educated traders. They often offer training materials, webinars, and even one-on-one mentorship sessions. However, the extent and quality of these resources can vary. Check with the specific firm to understand what they provide.

Are there restrictions on trading during news or events?

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Certain prop firms might have restrictions on trading during major news events or when the market is highly volatile. This is to manage risks associated with unexpected market moves. Always review the firm's trading policies before engaging in such trades.

Do I need prior trading experience for a funded account?

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Most prop firms do lean towards traders who've already demonstrated some proficiency in the market, often favoring those with a track record. However, this isn't a hard and fast rule. Several prop firms have established evaluations or challenges designed to assess a trader's aptitude in real-time scenarios.

On the other hand, there are firms that are more accommodating to beginners, providing them with comprehensive training programs and educational resources to bridge the knowledge gap.

What's a profit split in funded accounts?

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A profit split is essentially the way earnings are divided between the trader and the prop firm after successful trades. Take an 80-20 split as an example; in this scenario, a trader would retain 80% of the profit they generate, while the prop firm would claim the remaining 20%.

This structure serves as an incentive for traders to perform at their best and also provides the prop firm with a return on their investment. The specific percentages can vary from firm to firm, so it's essential to understand the agreement upfront.

How do I choose the best funded account for me?

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Selecting the right funded account is a multifaceted decision. You'll want to consider various components such as the proposed profit splits, the quality of support services, the intuitiveness and functionality of the trading platform, the depth of educational resources provided, and firsthand reviews and feedback from fellow traders.

Furthermore, introspection is key. Reflect on your trading style, your risk tolerance, and your preferred tradable assets to find a firm that aligns well with your trading philosophy.

Are there withdrawal restrictions on profits?

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Prop firms, while offering substantial capital to trade with, will usually set specific terms when it comes to withdrawing profits. Each firm's policy can differ significantly.

Some might have a straightforward monthly withdrawal schedule, while others could have more intricate conditions tied to performance metrics or account longevity. It's paramount to get clarity on this aspect before entering into any agreements to avoid any misunderstandings later.

Can I lose more than my initial investment?

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In the context of funded trading accounts, traders aren't typically investing their own capital upfront. Therefore, the primary risk is not monetary but the potential loss of the funded account opportunity. However, it's crucial to be well-acquainted with the risk parameters and guidelines set by the prop firm.

While you may not be at risk of losing personal funds, any losses on the account could impact your relationship with the firm and future trading opportunities.

Is forex trading legal everywhere?

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Forex trading, given its global nature, is legal in a vast majority of countries. However, each nation has its regulatory framework which can impose specific guidelines, restrictions, or, in rare cases, outright bans. Before venturing into forex trading or collaborating with a prop firm, always take the time to familiarize yourself with local financial regulations to ensure you're in compliance.

Can I have accounts with multiple prop firms?

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Yes, in most scenarios, traders are free to collaborate with several prop firms simultaneously. Diversifying in this manner can be a strategic move, allowing traders access to varied resources, tools, and capital amounts.

However, managing multiple accounts requires attention to detail, organizational skills, and the ability to adhere to each firm's distinct rules and guidelines. Overextending could jeopardize your standing with these firms, so diligence is crucial.

Do funded accounts offer assets other than forex?

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While forex remains a primary focus for many prop firms given its vast liquidity and 24-hour trading window, several firms have broadened their offerings. It's not uncommon to find prop firms that provide access to other financial markets, including stocks, commodities, indices, and even cryptocurrencies. When considering a firm, it's beneficial to check their asset portfolio, especially if you're interested in diversifying your trading strategies.

How long does the evaluation process usually take?

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The evaluation process's duration can be quite diverse, depending on the prop firm's structure and what they're seeking in traders. Some firms might put candidates through a brisk 30-day challenge to gauge their proficiency.

Others could extend this period to 60 days or more, allowing for a more comprehensive assessment. There are also firms that fast-track seasoned traders, offering direct funding opportunities without the need for an extensive evaluation.

What happens if I don't meet the profit target?

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Prop firms typically set profit targets as part of their evaluation or ongoing trading criteria. If a trader fails to hit this target, the consequences can vary based on the firm's policies. While some firms might revoke the funded account after a single instance of underperformance, others may provide additional opportunities, remedial training, or modified trading conditions to help the trader improve.

Is day trading possible with funded accounts?

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Certainly! Day trading, which involves entering and exiting trades within a single market session, is a strategy supported by numerous prop firms. However, given its short-term nature and potentially high frequency of trades, some firms might have specific criteria or conditions for day traders. Before committing, it's wise to discuss your preferred trading style with the firm to ensure there are no discrepancies down the line.
Jeremy Biberdorf

About the Author:

Jeremy Biberdorf is the founder of Modest Money. He’s a father of 2 beautiful girls, a dog owner, a long-time online entrepreneur and an investing enthusiast.