List of All Prop Firms that Organize Trading Competitions - TheTrustedProp (2024)

Disclaimer: This blog post’s ranking of prop firms is based solely on their popularity and does not include any paid rankings or recommendations.

Please note that this list may not be exhaustive; other prop companies that organize competitions may not be included.

If you know any prop firms that organizes trading competitions than you can email us at support@thetrustedprop.com, or join our Discord server at https://discord.gg/KUNuK3NCmM., or tweet us at https://twitter.com/thetrustedprop.

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Introduction

Have you ever struggled to get a trading account despite being a skilled trader in the forex market? Well, don’t worry! Traders like you now have a great way to display your abilities and obtain access to prospective funding opportunities thanks to Forex Prop Firms. In this blog post, we look into the exciting world of prop business competitions, which have grown in popularity in recent months.

TheFundedTrader was the first prop firm to host competitions for the industry and is credited with starting the trend. They set the path for others to follow suit by realising the need to offer a platform for talented traders to showcase their skills. Later, MyFundedFx came along, which gave prop firm contests even more momentum.

These contests have changed the game for traders who are encountering financial obstacles on their path to success. Despite having excellent trading abilities, buying a trading account can be a huge challenge. Prop Firm competitions, on the other hand, present a fantastic chance to win a Challenge account without having to make an investment in buying challenges.

Prop business competitions are becoming increasingly popular, which is due to their exceptional advantages. They provide a platform for skilled traders to demonstrate their abilities.

Understanding Forex Prop Firms

Forex prop firms, also known as proprietary trading firms, are companies that provide traders with the capital and resources to trade the financial markets. These firms hire skilled traders and provide them with a trading account funded by the firm’s capital. In return, traders share a portion of their profits with the firm. Forex prop firms aim to identify and nurture talented traders, enabling them to generate profits while minimizing the risks associated with trading.

Benefits of Forex Prop Firms

Joining a Forex prop firm can offer several advantages to traders. Firstly, these firms provide access to significant trading capital that may not be available to individual traders. This allows traders to execute larger trades and potentially earn higher profits. Additionally, prop firms often provide access to advanced trading platforms, cutting-edge tools, and market analysis resources, enhancing traders’ capabilities.

Furthermore, Forex prop firms offer a supportive trading environment where traders can learn from experienced professionals and collaborate with like-minded individuals. This creates a conducive atmosphere for skill development, improving trading strategies, and gaining valuable insights into the financial markets.

Trading Competitions: An Overview

Trading competitions organized by Forex prop firms are events where traders compete against each other to achieve the highest returns within a specified time period. These competitions simulate real trading scenarios and often include a variety of trading instruments, such as currencies, commodities, and indices. Participants are provided with a virtual trading account and compete using demo or virtual funds.

Advantages of Trading Competitions

Participating in trading competitions can offer several benefits to traders. Firstly, competitions provide a platform for traders to showcase their trading skills and gain recognition in the industry. Successful participation can enhance traders’ reputation, potentially opening doors to lucrative opportunities with prop firms or other financial institutions.

Moreover, trading competitions offer a risk-free environment for traders to test new strategies, explore different trading styles, and experiment with various indicators and technical analysis tools. It allows traders to refine their approaches and improve their decision-making abilities without risking real money.

Top Forex Prop Firms Organizing Trading Competitions

Several top Forex prop firms organize trading competitions that attract traders from around the world.

In the sections that follow, we’ll provide a comprehensive list of prop firm companies that run competitions. You will learn more about their special formats, regulations, and distinguishing characteristics.

The Funded Trader:

Rules for The Funded Trader Competition:

1. Maximum daily drawdown allowed is 5%.
2. Maximum total drawdown allowed is 10%.
3. Participants must engage in a minimum of 5 trading days.
4. Expert Advisors (EAs) are not allowed in the competition.
5. Taking advantage of unrealistic fills in the demo environment is prohibited.
6. Daily drawdown will be calculated based on the higher value between balance or equity at the end of the day.
7. Lot size rules:– Maximum 5 lots for Forex Pairs.
8. – Maximum 30 lots for Indices.
9. – Maximum 3 lots for Crypto and Commodities.
10. – Maximum of 5 open positions at any given time.
11. Only one account per person is permitted.
12. The competition starts on the first day of the month.
13. Winners will be contacted by a member of the Trader Success Team to receive their appropriate prize.

Prizes for The Funded Trader Competition:

1. First Place:– $300k Royal Challenge + $5,000 Cash
2. Second Place:– $200k Royal Challenge + $3,000 Cash
3. Third Place:– $100k Royal Challenge + $2,000 Cash
4. 4th to 15th:– 100K Knight Challenge
5. 16th to 30th:– 50K Knight Challenge
6. 31st to 50th:– 25k Knight Challenge
7. 51st to 100th:– 10K Knight Challenge

MyFundedFX:

Rules for MyFundedFX Competition:

1. 5% Daily Drawdown (Equity Based)
2. 8% Max Drawdown (Initial Balance Based)
3. No expert advisors allowed
4. Maximum lot size limit of 5 across all assets
5. News trading is allowed
6. Swing trading is allowed
7. One account per person

Prizes for MyFundedFX Competition:

1. 1st Prize: $300K Challenge + $1,000 Cash
2. 2nd Prize: $200K Challenge + $500 Cash
3. 3rd Prize: $100K Challenge + $200 Cash
4. 4th and 5th Prizes: $50K Challenge + $100 Cash
5. 6th to 10th Prizes: $25K Challenge
6. 11th to 20th Prizes: $10K Challenge
7. 21st to 40th Prizes: $5K Challenge

Smart Prop Trader:

Rules for Smart Prop Trader Competition:

1. There is no maximum lot size restriction.
2. Expert Advisors (EAs) are allowed, except for Martingale, HFT (High-Frequency Trading), Grid Trading, and Latency Arbitrage, whether executed manually or via EA.
3. Daily drawdown is limited to 4%.
4. Maximum overall drawdown allowed is 8%.
5. Only one account per person is permitted.
6. Leverage of up to 100x is available.

Prizes for Smart Prop Trader Competition:

1. First Place:– 100K Challenge
2. Second Place:– 50K Challenge
3. Third Place and Fourth Place:-100K Challenge
4. Fifth and Sixth Place:– 25K Challenge
5. Seventh Place to Tenth Place:– 10K Challenge

Elite Traders Capital:

Rules for Elite Traders Capital Competition:

1. Maximum daily drawdown allowed is 4%.
2. Maximum total drawdown allowed is 8%.
3. Participants must engage in a minimum of 5 trading days.
4. Expert Advisors (EAs) are not allowed in the competition.
5. Taking advantage of unrealistic fills in the demo environment is prohibited.
6. There is a lot size rule of a maximum of 5 lots across all positions.

– If a participant exceeds the lot size limit, all trades will be closed, and it will be considered a soft breach.

7. Only one account per person is permitted.

Prizes for Elite Traders Capital Competition:

1. First Place:– 20K account
2. Second Place:– 10K account
3. Third Place:– 5K account + 30% discount upon the next purchase
4. Fourth and Fifth Place:– 5K account + 20% discount upon the next purchase
5. Sixth Place:– 10% discount upon the next purchase
6. Seventh Place:-7.5% discount upon the next purchase
7. Eighth Place:– 5% discount upon the next purchase

Funded Engineer:

Rules For Funded Engineer Competition:

1. The starting balance for participants is 100k.
2. Maximum daily drawdown allowed is 5%.
3. Maximum overall drawdown allowed is 10%.
4. High-Frequency Trading (HFT) and Arbitrage trading are not allowed.
5. Expert Advisors (EAs) are allowed.
6. There is no maximum lot size restriction.

Prizes for Funded Engineer Competition:

1. First Place:– 500k prize
2. Second Place:– 300k prize
3. Third Place:– 200k prize
4. Fourth and Fifth Place:– 50k prize
5. Sixth to Fifteenth Place:– 25k prize
6. Sixteenth to Thirtieth Place:– 10k prize

Alpha Capital Group

Rules for Alpha Capital Group Competition:

1. – Max Daily Drawdown: 5%
2. – Max Total Drawdown: 10%
3. – No taking advantage of unrealistic fills in the demo environment
4. – Free entry (1 entry per person)
5. – No Lot Size Limit

Prizes for Alpha Capital Group Competition:

1. – Rank 1: Free $100,000 Challenge!
2. – Rank 2: Free $50,000 Challenge!
3. – Rank 3: Free $25,000 Challenge!
4. – Rank 4: Free $25,000 Challenge!
5. – Rank 5: Free $10,000 Challenge!
6. – Rank 6-7: Free $10,000 Challenge!
7. – Rank 8-20: 30% discount code!

Rocket 21 Challenge:

Rules for Rocket 21 Challenge:

1. There is no maximum lot size limit.
2. Maximum daily drawdown allowed is 5%.
3. Maximum overall drawdown allowed is 10%.
4. Participants must engage in a minimum of 5 trading days.
5. Only one account per email and IP address is permitted.

Prizes for Rocket 21 Challenge:

1. First Place:– $100K Rocket 21 Challenge
2. Second Place:– $50K Rocket 21 Challenge
3. Third Place:– $25K Rocket 21 Challenge
4. Fourth Place:– $10K Rocket 21 Challenge
5. Fifth Place:– $5K Rocket 21 Challenge
6. Sixth Place:– 50% Off Discount Code
7. Seventh Place:– 50% Off Discount Code
8. Eighth Place:– 25% Off Discount Code
9. Ninth Place:– 25% Off Discount Code
10. Tenth Place:– 25% Off Discount Code

Top Tier Trader Competition:

Rules for Top Tier Trading Competition:

1. No Lot Size Limit.
2. Maximum daily drawdown allowed is 5%.
3. Maximum overall drawdown allowed is 10%.
4. Participants must engage in a minimum of 4 trading days.
5. Taking advantage of unrealistic fills in the demo environment is prohibited.

Prizes for Top Tier Trading Competition:

1. First Place:– $100k TopTier Plus Challenge
2. Second Place:– $50k TopTier Plus Challenge
3. Third Place:– $50k TopTier Plus Challenge
4. Fourth Place:– $25k TopTier Plus Challenge
5. Fifth Place:– $25k TopTier Plus Challenge
6. Sixth Place:– $10k TopTier Plus Challenge
7. Seventh Place:– $10k TopTier Plus Challenge
8. Eighth Place:– $10k TopTier Plus Challenge
9. 

Funded Next

Rules for Funded Next Trading Competition:

1. The drawdown will be calculated based on the account balance.
2. The maximum daily loss limit is 5%.
3. The maximum overall loss limit is 10%.
4. Participants must meet a minimum trading requirement of 5 trading days.
5. News trading is allowed.
6. Commission is $3 per lot for Forex and Commodities, and there is no commission for Indices.
7. Overnight and over-weekend holding is permitted.
8. Accounts will be swap-free.
9. Expert advisors (EA’s) are not allowed.
10. The maximum lot size is 5 per position for Forex pairs.
11. The maximum lot size is 3 per position for indices, commodities, and metals.
12. Participants can hold a maximum of 5 trading positions at a time.
13. Only one account and one IP per person are permitted.

Prizes for Funded Next Trading Competition:

1. First Rank:– $7,000 in cash & Stellar 2-Step 300K
2. Second Rank:– $3,000 in cash & Stellar 2-Step 200K
3. Third Rank:– $2,000 in cash & Stellar 2-Step 100K
4. Fourth Rank:– Stellar 1-Step 50K
5. Fifth Rank:– Stellar 1-Step 50K
6. Sixth Rank:– Stellar 1-Step 25K
7. Seventh Rank:– Stellar 1-Step 25K
8. Eighth Rank:– Stellar 1-Step 25K
9. Ninth Rank:– Stellar 1-Step 25K
10. Tenth Rank:– Stellar 1-Step 25K

11th to 20th Ranks:– Stellar 1-Step 25K

21st to 70th Ranks:– Stellar 1-Step 15K

71st to 100th Ranks:– Express Consistency 15K

Additional Prizes for Funded Trading Competition:

– Participants ranked 101 to 600 will receive a lottery coupon.

– After the competition ends, 50 winners will be selected from the lottery, and each winner will receive a 6K account in the New One Step challenge.

– Participants can check the lottery results from within the competition dashboard.

Lark Funding Competition:

Rules for Lark Funding Trading Competition:

1. Maximum lot size for the competition is 10 open lots for FX, and 5 lots for indices and commodities.
2. Opening more than 10 lots at once will result in manual disqualification.
3. Follow the same rules as the 2-stage evaluation:

– Maximum daily drawdown: 5%

– Drawdown: 10% (trailing for the first 10% and then locks in at starting balance)

– Leverage: 50:1

– Weekend holding is allowed

– News trading is allowed

– Minimum trading days: 0

– No taking advantage of unrealistic fills in the demo environment

– EAs are not permitted, and the use of trade copiers connected to HFT EAs will result in disqualification.

4. Only one account per household is allowed, and creating multiple accounts will result in permanent banning from future competitions.
5. The competition starts on the first day of each month.
6. If you win a prize, a member of the Lark Funding Team will contact you to provide the corresponding prize.

Prizes for Lark Funding Trading Competition:

1. First Place: $200,000 2-Stage Evaluation
2. Second Place: $100,000 2-Stage Evaluation
3. Third Place: $100,000 2-Stage Evaluation
4. Fourth Place: $50,000 2-Stage Evaluation
5. Fifth Place: $50,000 2-Stage Evaluation
6. Sixth Place: $25,000 2-Stage Evaluation
7. Seventh Place: $25,000 2-Stage Evaluation
8. Eighth Place: $25,000 2-Stage Evaluation
9. Ninth Place: $25,000 2-Stage Evaluation
10. Tenth Place: $10,000 2-Stage Evaluation
11. Eleventh Place: $10,000 2-Stage Evaluation
12. Twelfth Place: $10,000 2-Stage Evaluation
13. Thirteenth Place: $10,000 2-Stage Evaluation
14. Fourteenth Place: $10,000 2-Stage Evaluation
15. Fifteenth Place: $10,000 2-Stage Evaluation
16. Sixteenth Place: $5,000 2-Stage Evaluation
17. Seventeenth Place: $5,000 2-Stage Evaluation
18. Eighteenth Place: $5,000 2-Stage Evaluation
19. Nineteenth Place: $5,000 2-Stage Evaluation
20. Twentieth Place: $5,000 2-Stage Evaluation

Fxify Competition:

Rules for Fxify Trading Competition:

1. Maximum daily drawdown: 5% (based on the previous day’s balance at 5 PM EST).
2. Maximum drawdown: 10% (static/absolute limit).
3. No lot size limit.
4. No consistency rules.
5. EAs (Expert Advisors) are allowed.

Prizes for Fxify Trading Competition:

1. First Prize: $200,000
2. Second Prize: $100,000
3. Third Prize: $50,000
4. Fourth Prize: $25,000
5. Fifth Prize: $15,000

Surge Trader Competition:

Rules for Surge Trader Trading Competition:

1. Maximum daily drawdown: 5% (based on the previous day’s balance at 5 PM EST).
2. Maximum drawdown: 10% (static/absolute limit).
3. Maximum lot size: 10 lots.
4. No consistency rules.
5. EAs (Expert Advisors) are allowed.

Prizes for Surge Trader Trading Competition:

1. First Place: $100k Audition Account & $1,000 Cash
2. Second Place: $50k Audition Account
3. Third Place: $25k Audition Account
4. Fourth Place: 10% Discount on any Future Audition
5. Fifth Place: 10% Discount on any Future Audition
6. Sixth Place: 10% Discount on any Future Audition
7. Seventh Place: 10% Discount on any Future Audition
8. Eighth Place: 10% Discount on any Future Audition
9. Ninth Place: 10% Discount on any Future Audition
10. Tenth Place: 10% Discount on any Future Audition

11th-30th Place: 10% Discount on any Future Audition

Union Wealths Management Competition:

Rules for Unions Wealths Management Trading Competition:

1. Drawdown will be calculated based on balance.
2. Maximum daily drawdown is 5%.
3. Maximum overall drawdown is 10%.
4. Participants must meet a minimum trading requirement of 5 trading days.
5. News trading is allowed.
6. The commission is $6 per lot for Forex and commodities, and none on indices.
7. Maximum lot size is 5.
8. Maximum soft breaches allowed are 2.
9. Overnight and weekend holding is permitted.
10. EA’s (Expert Advisors) are not allowed.
11. Only one account per user and IP per person is permitted.

Prizes for Unions Wealth Management Trading Competition:

1. First Place: $6,000.00
2. Second Place: $1,000.00
3. Third Place: $1,000.00
4. Fourth Place: $1,000.00
5. Fifth Place: $500.00
6. Sixth Place: $500.00

Ment Trading

Rules For Ment Trading Competition:

1. The maximum daily loss limit is 5%.
2. The maximum overall loss limit is 10%.
3. News trading is allowed.
4. Expert advisors (EA’s) are not allowed.

Prizes for Ment Trading Competition:

1. First Place: 200k Evaluation
2. Second Place: 100k Evaluation
3. Third Place: 50k Evaluation
4. Fourth Place: 25k Evaluation
5. Fifth Place: 25k Evaluation
6. Sixth Place: 25k Evaluation
7. Seventh Place: 25k Evaluation
8. Eighth Place: 25k Evaluation

7. How to Participate in Forex Trading Competitions

Participating in Forex trading competitions organized by prop firms is a straightforward process. Firstly, traders need to identify the prop firms that host these competitions. They can visit the firms’ websites or follow their social media channels to stay updated on upcoming events.

Once the competition is announced, traders usually need to register on the prop firm’s platform or submit an application. Some firms may require a minimum trading experience or other eligibility criteria. After registration, participants receive the necessary instructions, trading account details, and competition rules.

Tips for Succeeding in Trading Competitions

To maximize your chances of success in trading competitions, consider the following tips:

1. Develop a well-defined trading strategy and stick to it.
2. Practice using the trading platform and familiarize yourself with its features.
3. Stay updated with market news, economic indicators, and major events.
4. Manage your risk effectively by setting appropriate stop-loss and take-profit levels.
5. Analyze your competition and learn from successful participants.
6. Maintain discipline and control your emotions during the competition.
7. Regularly review your trading performance and make necessary adjustments.

Conclusion

Forex prop firms that organize trading competitions provide traders with unique opportunities to showcase their skills, learn from peers, and potentially earn lucrative rewards. These competitions create a simulated trading environment where traders can test their strategies, refine their approaches, and gain recognition in the industry. By participating in these competitions and following the tips provided, traders can enhance their trading abilities and open doors to exciting career prospects.

FAQs

Q1: Are Forex prop firms suitable for beginners?

A1: Yes, Forex prop firms often cater to traders of all skill levels, including beginners. These firms provide educational resources and mentorship programs to help aspiring traders develop their skills.

Q2: Do I need to invest my own money to participate in trading competitions organized by prop firms?

A2: No, trading competitions organized by prop firms typically use virtual or demo accounts with no real money involved. This allows traders to participate without risking their own capital.

Q3: Can participating in trading competitions guarantee success in Forex trading?

A3: Participating in trading competitions can be a valuable learning experience and may open doors to opportunities, but success in Forex trading requires continuous learning, practice, and adaptation to market conditions.

Q4: Are there any age restrictions to participate in trading competitions?

A4: The age restrictions may vary depending on the prop firm and the competition. Some competitions may have minimum age requirements, while others may be open to traders of all ages.

Q5: Can participating in trading competitions lead to a career in prop trading?

A5: Yes, exceptional performance in trading competitions can attract the attention of prop firms and other financial institutions, potentially leading to career opportunities in prop trading or related fields.