Proprietary trading firms provide traders with access to capital markets through evaluation challenges, offering profit-sharing opportunities without requiring large personal investments. This article lists 10 alternatives to FTMO and MyForexFunds, focusing on profit splits, evaluation processes, fees, and funding options. Here's a quick look:
- For Traders: Offers educational resources, a 15% profit split, and up to $100,000 in funding.
- FundedNext: Features flexible evaluation models and scalable funding.
- Funded Trading Plus: Starts with an 80% profit split, scaling up to 100%.
- The Funded Trader: Limited public details; contact for specifics.
- True Forex Funds: Minimal public information; requires direct inquiry.
- The 5%ers: Focus on long-term growth with profit splits up to 100%.
- SurgeTrader: Emerging firm with evolving features.
- E8 Funding: Provides up to $2.4 million in funding with flexible challenges.
- OneUp Trader: Details require direct verification.
- Earn2Trade: Information is limited; check their website for updates.
Key Takeaway: Each platform varies in terms of funding, fees, and conditions. Choose based on your trading style and goals.
FTMO Alternatives | Alternative Prop Firms For Forex Funding
1. For Traders
For Traders offers a platform designed to help traders sharpen their skills and deepen their market knowledge. Through simulated trading challenges, video courses, e-books, and an active Discord community, it provides the tools and resources traders need to refine their strategies and better understand market behavior. This blend of education and hands-on practice sets For Traders apart as a resource dedicated to trader growth.
2. FundedNext
FundedNext is a prop trading firm that offers both evaluation and instant funding models, providing traders with flexible options for account growth. Here's a closer look at some of its key features:
Profit Split Percentage
Traders working with FundedNext can keep a significant portion of the profits they earn. With consistent and profitable trading, they may even qualify for improved profit-sharing terms over time.
Evaluation/Challenge Structure
FundedNext provides two challenge options for traders. The first is a two-phase challenge that requires meeting a profit target and verifying performance, all while following strict risk management rules. For experienced traders looking for faster access to funded accounts, the Express Challenge offers a single-phase process with similar risk guidelines.
Maximum Funding
The firm supports account growth through a consistency program, enabling traders to scale their accounts. It also allows the management of multiple funded accounts for added flexibility.
Entry Fee (in USD)
The challenge fees depend on the size and duration of the account. These fees are refundable after the first profit withdrawal and may be discounted during promotional periods.
3. Funded Trading Plus
Funded Trading Plus stands out with its simplified evaluation process and attractive profit-sharing model, making it a popular choice among traders.
Profit Sharing
The platform starts traders off with an 80% profit split, which can increase to 100% for those who consistently perform at the highest level. This structure not only motivates traders but also allows them to maximize their earnings as they excel.
Evaluation Process
Funded Trading Plus uses a straightforward single-step evaluation process. Traders must achieve a 10% profit target while adhering to a 5% daily drawdown limit and a 10% total drawdown limit. This setup is designed to encourage disciplined trading while providing room for growth.
Funding Opportunities
Traders can begin with account sizes of up to $200,000, with the potential to scale up to $2.5 million. This significant scaling opportunity makes it an appealing choice for those aiming to grow their trading careers with progressively larger capital allocations.
4. The Funded Trader
The Funded Trader stands out by offering limited publicly available details about its program. Unlike firms that provide comprehensive information upfront, key aspects of The Funded Trader's structure - such as evaluation criteria, profit splits, funding limits, and fees - aren't disclosed openly. To get accurate and up-to-date details, you'll need to reach out to them directly.
Evaluation/Challenge Structure
Unfortunately, there’s no publicly available information about how The Funded Trader structures its evaluation or challenge processes.
Profit Split Percentage
Details about profit-sharing arrangements remain undisclosed.
Maximum Funding
There’s no public information on maximum funding amounts or potential scaling opportunities.
Entry Fee
The specifics of entry fees are not provided publicly.
Given the lack of accessible details, it's crucial to contact The Funded Trader directly to clarify their terms, conditions, and program structure. This ensures you have a clear understanding before committing to any evaluation or challenge they offer.
5. True Forex Funds
True Forex Funds provides minimal publicly available information about its proprietary trading program. Key details such as the evaluation process, profit-sharing model, funding limits, and participation fees remain undisclosed. Here's a breakdown of the areas where information is currently missing:
Evaluation/Challenge Structure
True Forex Funds has not shared any specifics about its evaluation or challenge process. There's no public information regarding phases, trading goals, or assessment criteria.
Profit Split Percentage
The profit-sharing percentage offered by True Forex Funds is not publicly available.
Maximum Funding
Details about the maximum funding amount or any account scaling opportunities remain unspecified.
Entry Fee
The program's entry fees or cost structure have not been disclosed.
Given the lack of publicly available information, traders interested in True Forex Funds should reach out directly to obtain the necessary details before making any commitments.
6. The 5%ers
The 5%ers is one of the pioneers in the proprietary trading world, earning a solid reputation for its focus on sustainable growth and strong risk management. This firm prioritizes long-term trader development over quick wins, making it an attractive choice for swing traders who favor a patient, steady approach. Their profit-sharing model is designed to reward traders who commit for the long haul.
Profit Split Percentage
Traders with The 5%ers start with a profit split of 50%, which can climb to 100% for those who consistently perform at a high level. This system incentivizes disciplined trading and long-term success.
Evaluation/Challenge Structure
The 5%ers offers three evaluation paths to suit varying trading styles and experience levels:
- Bootcamp (3-step evaluation): With profit targets of 6% at each step, this option is ideal for newer traders seeking lower-risk opportunities paired with educational resources.
- High Stakes (2-step evaluation): Targets are set at 8% and 5%, providing a more challenging route for experienced traders.
- Hyper Growth (1-step evaluation): A single-step option with a 10% profit target for those looking to qualify quickly.
For traders who want to skip the evaluation process, The 5%ers also provides an instant funding program. Drawdown limits vary by program, ranging from 3%-5% daily and 6%-10% overall. A standout feature of their evaluations is the absence of strict time limits, giving traders the flexibility to refine their strategies without added pressure. These structured programs create clear opportunities for scaling up.
Maximum Funding
Initial funding accounts range from $24,000 to $100,000, with clear paths to expand based on performance. Traders who demonstrate consistent profitability and effective risk management can access increased capital over time.
Entry Fee
The one-time fee for the instant funding program starts at approximately $350, with variations depending on the evaluation type and account size. This pricing remains competitive within the proprietary trading industry.
The 5%ers is particularly well-suited for swing traders, as they allow positions to be held overnight and over weekends. They support popular platforms like MetaTrader 4, MetaTrader 5, and Match-Trader. Additionally, traders benefit from bi-weekly payouts, with processing times of 7-14 days. For top-tier traders, the firm even offers a salary program, providing income stability alongside profit-sharing opportunities.
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7. SurgeTrader
SurgeTrader is an emerging proprietary trading firm that focuses on creating a supportive environment for traders. While specifics about its profit-sharing model, evaluation procedures, funding caps, and fee structures are still scarce, the firm’s approach has garnered attention. For the latest updates, traders should keep an eye on SurgeTrader’s official announcements. Its evolving framework makes it a noteworthy player in the prop trading world.
8. E8 Funding
E8 Funding, also known as E8 Markets, provides traders with flexible challenge options and access to significant funding opportunities. It currently boasts an impressive 4.8/5 rating based on 388 reviews.
Profit Split Percentage
E8 Funding operates on a profit-sharing model that starts traders at an 80% profit split, with the potential to scale up to 100% over time. This approach is designed to reward traders for consistent performance.
Evaluation/Challenge Structure
Traders looking to secure funded accounts have two main pathways with E8 Funding. The options include:
- E8 One: A simplified, 1-step challenge for faster evaluation.
- Classic 2-step program: A more traditional approach with multiple stages.
Each challenge comes with specific profit targets and drawdown limits that traders must meet to qualify for funding. These options provide flexibility, allowing traders to choose the route that best suits their style and strategy.
Maximum Funding
E8 Funding provides traders with access to a maximum funding limit of $2.4 million. This substantial allocation allows successful traders to expand their operations and take on larger opportunities.
With its generous funding potential and diverse challenge structures, E8 Funding stands out as a competitive choice for experienced prop traders.
9. OneUp Trader
At the moment, specific details about OneUp Trader's profit splits, evaluation process, funding amounts, and fees aren't provided here. To get the most accurate and up-to-date information, it's best to check directly on their official website.
10. Earn2Trade
Earn2Trade is another option worth considering, though finding detailed information about their current offerings can be a bit tricky. This proprietary trading firm operates in the funded trader space, but specifics about their program structure and terms aren’t readily available through typical sources. To help, here’s a quick snapshot of what’s known - but keep in mind, you’ll need to verify all details directly with Earn2Trade.
Program Highlights:
- Evaluation/Challenge: Not specified.
- Profit Split: Information unavailable.
- Maximum Funding: Details not provided.
- Entry Fee: Visit Earn2Trade’s website for the latest pricing.
Because Earn2Trade doesn’t share much publicly, it’s essential for interested traders to dig deeper. Visit their official website, review their terms of service, and reach out to their customer support team to get the most up-to-date and accurate information about their programs, fees, and trading conditions before making any decisions.
Side-by-Side Comparison
Choosing the right prop trading platform can feel overwhelming, but a direct comparison makes it easier. Below is a table outlining the key details for For Traders alongside other platforms. Note that the parameters for alternative platforms may vary significantly.
| Platform | Max Funding | Profit Split | Entry Fee Range | Profit Target | Max Drawdown | Trading Platforms |
|---|---|---|---|---|---|---|
| For Traders | $100,000 | 15% | $46 – $413 | 9% | 5% | DXTrade, TradeLocker, cTrader |
| FundedNext | Varies | Varies | Varies | Varies | Varies | Varies |
| Funded Trading Plus | Varies | Varies | Varies | Varies | Varies | Varies |
| The Funded Trader | Varies | Varies | Varies | Varies | Varies | Varies |
| True Forex Funds | Varies | Varies | Varies | Varies | Varies | Varies |
| The 5%ers | Varies | Varies | Varies | Varies | Varies | Varies |
| SurgeTrader | Varies | Varies | Varies | Varies | Varies | Varies |
| E8 Funding | Varies | Varies | Varies | Varies | Varies | Varies |
| OneUp Trader | Varies | Varies | Varies | Varies | Varies | Varies |
| Earn2Trade | Varies | Varies | Varies | Varies | Varies | Varies |
This table highlights how For Traders stands out with clearly defined terms and features compared to the more variable options offered by other platforms.
Key Takeaways
- Transparent Terms and Competitive Fees: For Traders offers an accessible entry fee range of $46–$413, catering to traders with varying levels of experience and budgets.
- Defined Profit Target and Funding: With a 9% profit target and a maximum funding cap of $100,000, the platform provides a clear and structured framework for retail traders.
- Risk Management: A strict 5% max drawdown helps safeguard traders from significant losses, promoting disciplined trading.
- Advanced Trading Platforms: For Traders supports DXTrade, TradeLocker, and cTrader, offering robust tools for effective trading.
While other platforms may offer flexibility, they often lack the transparency and consistency of For Traders. If you're evaluating your options, think about your trading style, experience, and capital needs. For Traders delivers a straightforward and reliable model, backed by competitive pricing, advanced tools, and educational resources to help traders succeed.
Final Thoughts
When it comes to selecting a prop trading platform, several critical elements should guide your decision-making process. As highlighted in the comparison table and platform analyses, aspects like risk management, profit targets, and technology support play pivotal roles. While the table offers a straightforward way to evaluate these factors, remember that the "best" platform is subjective and depends on your unique trading style and goals.
To make an informed choice, pay close attention to risk limits, profit targets, and fee structures that align with how you trade. For instance, examine rules around maximum loss and daily drawdowns to establish clear risk parameters that encourage disciplined trading practices. Similarly, consider how profit targets correspond with challenge durations - whether you're a scalper making frequent trades or a swing trader holding positions for days at a time.
Long-term earnings are influenced by elements like profit splits and scaling plans. A well-defined and transparent structure in these areas can provide clarity and confidence about your potential returns.
Another important consideration is whether the platform’s supported tools and tradable assets meet your requirements. Platforms such as DXTrade, TradeLocker, and cTrader should align with your preferences, and the available asset classes should match your market focus. Additionally, be sure to review rules regarding news trading, overnight positions, and weekend holds to ensure they fit seamlessly with your strategy.
The comparison table above is a handy reference for assessing key details like funding limits, profit splits, challenge fees, refund policies, and scaling opportunities - all of which can significantly impact your profitability.
Ultimately, the goal is to choose a platform that offers transparency, competitive terms, and reliable execution. By matching your personal trading needs with the right firm’s offerings, you can set yourself up for greater trading success.
FAQs
What should I look for when selecting a proprietary trading firm from the options in the article?
When choosing a proprietary trading firm, it's essential to weigh several factors that match your trading objectives. Start with the profit splits - this determines how you and the firm share the earnings. Next, examine the challenge structures, which lay out the specific steps you'll need to complete to qualify for funding. Don't overlook the fee model; it should align with both your budget and trading approach. Lastly, assess the trading conditions, including leverage options, available instruments, and platform compatibility.
By taking the time to review these elements, you can find a firm that aligns with your trading needs and sets you up for success.
What are the differences in profit splits and evaluation processes across the platforms mentioned?
Profit-sharing models and evaluation setups differ greatly across trading platforms. For example, some firms offer profit splits between 80% and 90%, paired with one- or two-phase challenges or quick evaluation processes. On the other hand, certain platforms provide 100% profit splits up to a specific profit cap, after which the percentage slightly decreases.
Evaluation methods also vary widely. While some platforms focus on multi-phase challenges, others streamline the process with straightforward, single-phase evaluations. These variations exist to accommodate different trading styles and preferences, making it crucial to select a platform that matches your trading objectives and appetite for risk.
Why should I reach out directly to trading firms like The Funded Trader or True Forex Funds for more details?
Reaching out to trading firms directly is crucial if you want the most reliable and current information about their programs, requirements, and policies. Relying on websites or third-party sources can sometimes leave you with outdated or incomplete details about what they offer.
By contacting them, you can clear up any confusion, verify important aspects like profit splits or fees, and make sure their services match your trading objectives. Plus, it’s a chance to ask tailored questions, gain deeper insight into their evaluation process, and learn about the support they provide. Direct communication puts you in a better position to make informed decisions.