Best Prop Firms in 2023 (Honest Review)

Let me share the best Prop Firms for you. The ability to withdraw your profits is crucial.

In this blog, we’ll discuss the most trustworthy prop trading firms because FTMO is not the only challenge available. However, many scammers disguise themselves as legitimate firms. firms.

I want to ensure you don’t fall prey to these scams. The trading system demonstrated in the course applies to all prop firm challenges, but you must be aware of the varying trading objectives.

Number 5: The True Forex Funds  

True Forex Funds is based in Singapore and offers a trading challenge for accounts ranging from 10k to 200k. The challenge fee for a 10k account is only 89 EUR, making it one of the cheapest.

The target profit is 8% during Phase 1 and 5% during Phase 2. Completing the challenge successfully gets you funded with a profit split of 80/20%, with 80% going to you, the trader and 20% going to the firm.

Number 4, E8 Funding

E8 Funding is based in Canada and provides quality services while prioritizing sustainability as well as offering assets such as stocks, Forex, and options, as well as a trading challenge that has 0 Minimum Trading Days.

You can pass the challenge in just a few hours. Other firms have 10 minimum trading days, but smart traders trade only a few times per month.

The E8 Challenge fee is $228 for a 25k account, which is the lowest they offer. To get funded, you must reach a $2000 profit or 8% during phase 1 and $1250 or 5% during phase 2

Number 3 in the best prop firms is The Trading Capital

The Trading Capital is a US firm with big trading accounts.

The smallest is 50k and the biggest is 500k. The Challenge has a fee of $449 for 50k and $1999 for 500k.

Phase 1 target profit is 8%, and phase 2 is 5%. There are 10 minimum trading days like FTMO.

Successful completion earns a funded account with 85/15. This is one of the best splits available.

Number 2 My Forex Funds

My Forex Funds is a UK firm with a fast trading platform.

Traders can get bonuses while being assessed and they offer a trading challenge for accounts from 5k to 300k. The smallest account size is 5k and the fee is $49. Phase 1 target is 8%, and phase 2 target is 5%.

Daily permitted drawdown is $250, and overall drawdown is $600. This brings us to number 1.

And finally Number 1 amonth the best Prop Firms is (drum roll)….FTMO

FTMO is the top firm on our list, based in Slovakia with a great reputation.

The firm designed their trading challenge to be rigorous and transparent, aiming to find the best traders and offer them a spot on their team.. Anyone can take part in the challenge, and it’s an excellent way to prove your skills.

The fee is $155EUR for a 10k account and $1080EUR for 200k account. The target profit is 5% for both the Challenge and Verification process.

If you complete the challenge, you’ll join the team with a profit split of 80/20. FTMO also provides innovative tools and educational resources to help traders improve.

Final Thoughts

Remember that this is not a sponsored blog post and the best prop firms are notsponsoring me, so this review is honest and fair.

One thing to keep in mind that is very important. All the 5 prop trading firms allow expert advisors or Trading Robots, as they’re more commonly referred to. That is why these are my top 5. Additionally, with all of them the payout cycle is Bi-weekly and the Leverage they offer is 1:100. Nothing more, nothing less.

There you have it, the top 5 prop trading firms that offer trading challenges and a range of services to help you successfully trade the markets.

I hope I managed to cover the most important aspects of each prop trading firm and your decision of which broker to use is made easier. If you do not have a trading strategy for a challenge yet, make sure to check the FTMO Master Class that I recently launched. It’s already helped many others to pass the challenge. Good luck and please let me know if you have any questions.