fxprop - props you trust on LinkedIn: Prop Trading Firms with MetaTrader Platform (2024)

FAQs

How do I know if my prop firm is legit? ›

In order to prevent being deceived Examine these signs to determine whether a prop firm is fraudulent or not: a meager number of reviews—or none—on reputable websites like Trustpilot.

Sure, the firm may replicate successful trades of the funded traders on the firm's real account. But, again, those are trades made by the firm itself with its own capital. And in general, prop firms insist that they are not financial institutions and do not provide financial services.

For those who have a real passion for trading, and who have the correct skillset, prop trading can be a very lucrative career.

Overview: Apex Trader Funding is the best futures prop trading firm on this list for a variety of reasons, but most notably because it boasts the highest pass rate for its evaluation program out of all the futures prop firms on this list. It is also by far the most friendly option for beginner futures traders.

Visit FINRA BrokerCheck or call FINRA at (800) 289-9999. Also contact your state securities regulator. Check SEC Action Lookup tool for formal actions that the SEC has brought against individuals.

The Volcker Rule is intended to restrict high-risk, speculative trading activity by banks, such as proprietary trading or investing in or sponsoring hedge funds or private equity funds.

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.

The short answer is yes, they do. However, it's important to understand that prop trading, like any other form of trading, comes with its own set of risks. Not all traders will be successful, and some may even end up losing money.

Since proprietary trading uses the firm's own money rather than funds belonging to its clients, prop traders can take on greater levels of risk without having to answer to clients.

The Volcker rule generally prohibits banking entities from engaging in proprietary trading or investing in or sponsoring hedge funds or private equity funds.

Do banks still do prop trading? ›

Since the 2008 financial crisis, that has become somewhat less true. In the US, proprietary trading, as a business for big banks, has been more or less outlawed for a decade by the Volcker Rule.

Summary. As we conclude our list, it's evident that Blue Guardian, Funding Pips, UWM, For Traders, and My Flash Funding, each with a Trustpilot rating of 4.8, stand out as the best forex prop firms of 2024 for traders seeking 10K accounts.

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.

OANDA - Best US forex broker overall

OANDA secures the top position as the premier U.S.-regulated forex broker by offering spreads that are consistently lower than the industry average.

Profits from trades are generally divided between the firm and the prop trader; however, the risk distribution is asymmetric. This means that in the event of a loss, the trader bears 100% of the losses, while they don't receive 100% of the profits.

Prop trading firms are less heavily regulated than regular brokerages and broker-dealers. However, it depends on the way the prof firm choose to open their business. If them choose to open a firm only with trader challenges, there's no license needed.

A prop trading firm looks to recruit talented traders and fund them with the company's capital. The funds that a trader makes, is then split between the trader and the company. The profit share is between 50 – 95%, with the trader taking the lion's share.