Best No Evaluation Prop Firms 2024

Jeremy Biberdorf Image
Updated
May 30, 2024
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Quick Breakdown

Quick Breakdown


  • Best for retail traders wanting a straightforward and direct funding program.

  • Best for forex traders aiming for high-profit targets without evaluation.

  • Best overall, especially for traders seeking robust support and diverse trading styles.

  • Best for experienced traders looking for a firm with comprehensive trading conditions.
In the world of trading, numerous traders often struggle to secure the necessary capital to scale their trading activities. Fortunately, proprietary (or prop) firms exist to address this issue. These entities provide traders with the capital to trade, allowing both seasoned and beginner traders to broaden their trading horizons without the risk of personal financial loss.

Prop firms, such as Fidelcrest, City Traders Imperium, Funded Trading Plus and The 5ers, have established programs that allow traders to showcase their trading skills and obtain funding. However, an appealing option for many traders is the no-evaluation prop firm. This format bypasses the usual evaluation phase, making it ideal for experienced traders ready to dive straight into the trading activities.

In this article, we will explore some of the best no-evaluation prop firms, detailing their benefits, providing an overview of their platforms, and diving into the companies themselves. To top it off, we will answer frequently asked questions regarding these firms and the landscape of no-evaluation trading.

The Best No Evaluation Prop Firms in 2024

Funded Trading Plus

4.4 stars
Tradable Assets Wide selection of asset classes
Profit Split Up to 90%
Best For Straightforward funding program
Benefits
Overview
Company
  • Straightforward funding program
  • Extensive selection of asset classes
  • Competitive profit share
  • No evaluation necessary
  • Excellent trading conditions
  • Access to popular trading platforms
  • Promo: Coupon Code MODEST for 10% off
Funded Trading Plus distinguishes itself through a straightforward funding program that skips the evaluation phase and goes straight into trading. Its platform allows traders to select from a vast array of asset classes, thus catering to the diverse needs of retail traders.

The firm offers competitive profit sharing of up to 90% and excellent trading conditions, making it a reliable option for those wanting to elevate their trading journey. With access to popular trading platforms — Funded Trading Plus enhances the trading experience for its community of traders.

Funded Trading Plus is a dynamic prop trading firm that focuses on providing traders with an accessible and efficient pathway to trading. The firm understands the struggles of sourcing adequate capital for trading, so they aim to fill that gap and offer its traders a chance to profit from their skills.

Founded by traders, for traders, Funded Trading Plus operates on a philosophy of simplicity, transparency, and trust. The firm's management believes in providing straightforward rules and unfettered access to trading capital — encouraging traders to hone their skills without worrying about complex regulations or hidden terms.

The 5ers

4.3 stars
Tradable Assets Forex pairs
Profit Split 50%
Best For High-profit targets without evaluation
Benefits
Overview
Company
The 5ers specialize in forex trading, offering traders an attractive platform where they can focus on maximizing their profit targets from forex pairs. The firm's no-evaluation program facilitates immediate trading activities, providing traders with quick access to capital.

Featuring straightforward rules and a 50/50 profit split, The 5ers has tailored its platform to cater to the needs of forex traders. The firm prides itself on providing a quick and smooth trading experience — making it a top choice for traders in the forex market.

Founded by experienced forex traders, The 5ers understands the unique challenges and opportunities of the forex market. The company is committed to providing its traders with an optimal trading environment that is not only profitable but also fulfilling.

The 5ers' primary focus is on the success of its traders. To achieve this, they provide ample resources and support to ensure that their traders can perform at their best. The firm's dedication to its traders is evident in its straightforward rules and fast funding, underlining its commitment to creating an efficient and effective trading platform.

Fidelcrest

4.6 stars
Tradable Assets Diverse range of financial instruments
Profit Split Up to 90%
Best For Robust support and diverse trading styles
Benefits
Overview
Company
  • Diverse tradable assets
  • Robust support system
  • Various trading styles accommodated
  • No evaluation required
  • Competitive profit split
  • Extensive funding programs
  • Promo: Coupon Code MM-15 for 15% off
Fidelcrest, a prominent player in the prop trading space, has carved out a niche for itself by accommodating a variety of trading styles. Whether you're a swing trader or an algorithmic trader — Fidelcrest's platform supports your trading activities.

Unlike some other firms, Fidelcrest does not require an evaluation phase, making it an excellent option for experienced traders looking to jump straight into trading. The firm's competitive profit split and diverse range of tradable financial instruments make it an attractive choice for traders looking to maximize their profit targets.

Fidelcrest is a globally renowned prop trading firm, with a reputation for its straightforward rules and strong support system. The company's dedicated team works tirelessly to ensure that its traders have the best possible trading experience. Their commitment to their traders extends to providing access to a variety of trading platforms, broadening the trading opportunities available.

Fidelcrest's mission is to support traders in their journey, offering not just capital but also the necessary resources to help them become successful traders. They value transparency and integrity, ensuring that their practices are honest and their traders are informed.

City Traders Imperium

4.6 stars
Tradable Assets Most trading instruments
Profit Split Up to 100%
Best For Comprehensive trading conditions
Benefits
Overview
Company
  • Comprehensive trading conditions
  • Broad range of tradable instruments
  • Competitive profit split
  • No evaluation required
  • Responsive customer service
  • Highly experienced team
  • Promo: Coupon Code CTI10% for 10% off
City Traders Imperium is a firm that prides itself on its comprehensive trading conditions. Offering a broad range of trading instruments, the platform caters to a wide array of trading styles, making it a favorite amongst diverse types of traders.

The firm doesn't require an evaluation phase, allowing traders to start their trading journey immediately. Moreover, with a competitive profit split and a highly responsive customer service team — City Traders Imperium is an attractive platform for traders seeking a seamless trading experience.

City Traders Imperium is a London-based prop firm, founded by experienced traders who understand the challenges and needs of traders. Their aim is to create an environment where traders feel supported and have all the necessary tools to succeed.

The company's ethos is to put its traders first. They work hard to maintain a platform that is transparent, fair, and provides a genuine opportunity for traders to showcase their skills and earn from their trading activities. They have a vibrant community of traders, adding a sense of camaraderie to the trading experience.

Frequently Asked Questions

Which no-evaluation prop firm is the best?

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Determining the "best" no-evaluation prop firm largely depends on individual preferences, trading styles, and experience level. Fidelcrest, City Traders Imperium, and Funded Trading Plus are excellent options for those seeking diverse tradable assets — while The 5ers is perfect for forex traders.

What are prop firms?

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Proprietary trading firms, or prop firms, provide traders with capital to trade in the financial markets. These firms bear all the financial risk while sharing profits with the traders. The prop firms included in this article, like Fidelcrest and City Traders Imperium, even offer no-evaluation programs that allow traders to start trading real capital without going through the traditional evaluation phase.

What does "no evaluation" mean in the context of prop trading firms?

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In a typical prop trading firm, there's usually an evaluation phase or challenge phase where traders must demonstrate their trading skills and profitability under controlled conditions. However, a "no evaluation" prop firm, like Funded Trading Plus or The 5ers, skips this phase, allowing traders to start trading with the firm's capital immediately.

Can experienced traders benefit from no-evaluation prop firms?

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Absolutely. No-evaluation prop firms are an excellent avenue for experienced traders to leverage their skills. Since these firms bypass the evaluation phase, experienced traders can get straight to trading without needing to prove their capabilities first, potentially speeding up their profit-making process.

How does the profit split work in no-evaluation prop firms?

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Profit splits in no-evaluation prop firms can vary. Generally, profits are divided between the trader and the firm according to an agreed percentage. For example, in City Traders Imperium, the profit split is up to 70% for the trader, while in Funded Trading Plus, the split can be 80% or more, depending on the chosen program.

What trading platforms are used in no-evaluation prop firms?

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The trading platforms used by no-evaluation prop firms can vary, but MetaTrader 4 and MetaTrader 5 are commonly used due to their comprehensive features and user-friendly interfaces. Firms like Funded Trading Plus give traders access to these popular platforms and more.

Can beginners benefit from no-evaluation prop firms?

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While no-evaluation prop firms can be a great opportunity for beginner traders to gain experience in real-market conditions, they should be aware of the risks involved. Trading in the financial markets can lead to substantial losses, and beginners should have a solid understanding of trading rules, risk management, and the specific requirements of the prop firm before starting.

What assets can I trade with no-evaluation prop firms?

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The range of tradable assets varies among no-evaluation prop firms. Fidelcrest and City Traders Imperium, for example, provide a broad range of financial instruments, including forex pairs, indices, commodities, and more.

What are the requirements to join a no-evaluation prop firm?

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While specific requirements can vary from one firm to another, most no-evaluation prop firms simply require traders to agree to their terms and conditions and pay an initial one-time fee or subscription. There are usually no strict prerequisites regarding trading experience or trading skills.

What is the maximum drawdown limit in no-evaluation prop firms?

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Maximum drawdown limits are set by prop firms to manage risk. Each firm has its own set of rules concerning drawdown limits. It's essential for traders to understand these rules before trading, as breaching the drawdown limit could lead to the termination of the trading account.

How many minimum trading days are required by no-evaluation prop firms?

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Unlike traditional prop firms, no-evaluation prop firms often have no minimum trading days requirement. This means traders have the flexibility to trade on their own schedule. However, traders are encouraged to remain active to maximize their profit potential.

What is the benefit of a no-evaluation prop firm for a retail trader?

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For retail traders, no-evaluation prop firms offer immediate access to trading capital. This eliminates the need for a substantial initial investment, reducing the risk of personal financial loss. Additionally, traders can gain invaluable trading experience and potentially earn a share of the profits.

What happens if a trader doesn't reach their profit targets in a no-evaluation prop firm?

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In a no-evaluation prop firm, not reaching a profit target does not necessarily lead to account closure. The trader may continue trading, working to improve their trading strategy and performance. However, reaching profit targets is desirable as it directly affects the profit split between the trader and the firm.

What are the trading conditions like in no-evaluation prop firms?

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Trading conditions can vary among no-evaluation prop firms, but they generally aim to provide favorable conditions to help traders succeed. This can include offering various tradable assets, flexible trading hours, and access to advanced trading platforms. Firms like City Traders Imperium even offer access to a community of traders for support and shared learning.

How does news trading work in no-evaluation prop firms?

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News trading, or trading based on economic news releases, is a strategy used by many traders. Some no-evaluation prop firms allow news trading, while others might restrict it due to the volatility it can cause. Traders should check the firm's trading rules before engaging in news trading.

What kind of customer service do no-evaluation prop firms offer?

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Customer service is a crucial aspect of any no-evaluation prop firm. Reliable customer service ensures that traders can get prompt assistance with any issues that arise. Firms like Fidelcrest and Funded Trading Plus pride themselves on offering quality customer service to assist traders in their journey.

The best no-evaluation proprietary trading firms make it possible for traders to start their trading journey swiftly and efficiently. Whether you're a seasoned trader or just starting out, choosing the right prop firm can set you up for a successful trading career. By considering aspects like tradable assets, profit split, the firm's reputation, and the overall trading conditions, you can make an informed decision that best suits your trading goals. Remember, every trading journey comes with its set of challenges, but the right platform can make all the difference.

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.