Considering how many hundreds of billions of dollars are traded monthly around the world, it’s an appealing career decision to work as a professional trader. And if you’re especially ambitious, prop trading can offer you the greatest rewards— although it’s a cutthroat field with tons of turnover and volatility. 

If you’re talented enough to make it as a prop trader, the next step is to find one of the top proprietary trading firms who will help you find those juicy profits. You want to make sure you’re getting the most value out of your time and capital, so research is essential.

Fortunately, I’ve done all the groundwork for you. 

Listed below are the 5 best proprietary trading firms in the business. Each of them has something that sets them apart from the rest and ensures that you’ll be happy with your purchase.

Read on to see what each proprietary trading firm has to offer!

Top 5 Best Prop Trading Firms

1. Topstep Trader Review

topstep

Topstep’s platform makes it easy for newcomers to start making money through prop trading firms.

Topstep Proprietary Trading Details

Topstep offers a very beginner friendly approach to futures and forex trading. They want to turn you into a better trainer by teaching you healthy trading strategy and habits. Additionally, they mitigate risk by giving you fallback options like challenge resets and low weekly loss caps. Thanks to that, newcomers won’t have to worry about the financial cost behind learning the ropes. 

Why Topstep? | Learn about our Funded Trader Program

Anyone can become an experienced trader if they stick with Topstep long enough. That’s because they offer coaching alongside funding— either live group sessions or one-on-one instruction. If you plan on playing with their money, it’s highly recommended that you take advantage of these resources to ensure the highest possibility of success.

Buying power tiers are based on experience level. Those just starting out will stick around $50k to $100k. Later you can earn up to $500k buying power after earning enough experience. Keep in mind that higher payment tiers have higher loss limits and profit targets to match.

Topstep Review Features

  • Keep first $10k in profits
  • Forex and Futures Trading
  • 6,000+ Accounts Funded
  • 140+ Countries Represented
  • 4.6 Trustpilot Rating
topstep review

TopStep Pros and Cons

  • Excellent Support: Topstep’s staff teach you to mitigate risk, develop new strategies, and become consistently profitable. They want you to develop strong business skills while working with them.
  • MetaTrader4 Platform: Every transaction is done via the MT4 platform. Doing so means you have 0 fees and access to powerful trading software that’s compatible on mobile and tablet devices.
  • Regular Sales: Topstep will frequently announce sales for their Trading Combine. These can bring down monthly costs dramatically— so it’s a great idea to take advantage of one whenever it comes along.
Bottom Line: Anyone starting out in trading should consider checking out Topstep. It’s the most beginner friendly option on this list.

Go To TopStep


2. Fidelcrest Prop Trading Firm Review

fidelcrest

Fidelcrest allows any lot size on their site. You aren’t locked into higher monetary tiers, which allows you to only trade at the level you’re most comfortable.

Fidelcrest Prop Trading Details

Fidelcrest appeals to every lot size out there. They understand that people have different confidence levels and trading strategies; that’s why they’ve gone out of their way to make the work process as straightforward as possible. Accounts of any size can access all of their tools and use them to maximize profit. Doing so makes it much easier to get your business off the ground.

FidelCrest’s ProTrader program allows you to invest anywhere between $10k to $1 million as your initial capital. These can be used for micro, normal risk, and aggressive trading plans. Thanks to that, you have a great deal of freedom when it comes to utilizing your initial capital.

Fidelcrest Prop Trading Features

  • Minimum 10 Trading Days
  • Any Lot Size
  • Custom Profit Targets
  • High Post-Verification Shares
  • 20% Maximum Loss
fidelcrest review

Fidelcrest Pros and Cons

  • One-Time Only Fee: Anyone starting out with Fidelcrest only needs to pay a single startup fee. There are no hidden costs!
  • Account Analytics: Included with this prop firm course is a proprietary trader progress tracker. This shows you important account metrics you can use to enhance your work.
  • Low Starting Share: Starting traders only make 10-20% of the profits before verification. However, that can skyrocket to 80% for normal accounts and 90% for aggressive accounts once you’ve become a verified trader.
Bottom Line: Fidelcrest is able to appeal to every type of trader through customized lot sizes and profit targets. But if you’re willing to trade in higher volumes, you may prefer prop firms with higher profit shares like FTMO and Topstep.

Go To Fidelcrest


3. FTMO Review Prop Trading Firm

FTMO

Here’s the best thing about FTMO— their profit splits highly favor you over the company. This can make earning money much easier, and should be enticing enough to motivate you through the verification process.

FTMO Proprietary Trading Company Details

FTMO lets you trade any instrument in which you’re interested: this includes stocks, bonds, crypto, Forex, and more. This makes for an appealing option if you want a diverse portfolio, but their high profit splits make them even more appealing overall. Anyone verified by this company can earn up to 90% of the profits while FTMO covers the losses!

How to pass the FTMO Challenge? AVOID These 4 Common Mistakes! | FTMO

Anyone interested in this site needs to complete their FTMO challenge and pass through the verification process. This requires you to earn a minimum of $1,000 during a 30 day trading period. Next, you need to complete a 60 day verification process. Only after doing so can you become a verified FTMO trader.

FTMO Review Features

  • Sing Account
  • Scaling Plan
  • Free Trial
  • Performance Coach
  • No Style Limits
FTMO review

FTMO Pros and Cons

  • Free Trial: FTMO lets you try out their service for a short time without paying. Doing so will let you get a feel for how they work before you sign up.
  • High Profit Split: Unlike other companies, FTMO lets you have up to 90% in the profit split. This is much higher than the industry standard of 70%.
  • Difficult Verification: Verification for FTMO is much tougher than their competitors. They want to make sure they have the best of the best when accepting people.
Bottom Line: FTMO offers an open trading experience with very high profit splits. What’s not to love?

4. MyForexFunds Review Trading Firm

my forex funds

My Forex Funds offers you a great deal more freedom and flexibility compared to other prop firms. You can earn bonuses while being evaluated for high-volume trading programs, or skip the line with sufficient experience.

MyForexFunds Prop Trading Firm Details

Those interested in this prop firm must first complete a 2 phase evaluation. You have 30 days to complete each phase and must hit the respective 8% and 5% profit targets. The good news is that anyone in profit but not on target may qualify for a free extension. Plus, you have unlimited free retakes if you’re unable to meet your goals on the first try.

Currently you can sign up for plans between $10k and $200k. Each of these comes with a different starting and overall draw down that reflects the costs involved. All registration fees are refunded after completion and you don’t need to pay any monthly fees— unlike some of the other courses on this list.

My Forex Funds Review Features

  • No Monthly Fees
  • Up to 85% Profit Split
  • Free Retakes
  • No Trading Restrictions
  • Lower Market Targets
myforexfunds review

My Forex Funds Pros and Cons

  • Retakes: My Forex Funds lets you retake their evaluation challenge if you’re unable to pass it on the first try.
  • No Restrictions: This site doesn’t force any trading restrictions. All they ask is that you maintain consistency and focus on risk management.
  • Limited Support: Anyone using this site will have to work mostly solo. More freedom when trading means less helping hands overall.
Bottom Line: My Forex Funds offers the most freedom when it comes to trading firms. The risk is much higher, but so are the potential payouts.

5. SurgeTrader Best Prop Trading Firms

surgetrader

SurgeTrader allows for much higher trading amounts than other providers— up to $1 million for master traders!

SurgeTrader Prop Trading Firms Details

The first thing you need to do when starting with SurgeTrader is to pick your preferred package. Packages can go as high as $1 million dollars, but the higher you go, the more difficult the audition will be. Each payment tier has a progressively higher audition fee paired with a more difficult challenge. Anyone who passes the challenge will have access to the funds and will keep 75% of the profits made. Just keep your loss limits and drawdown in mind while working.

Currently you can choose from 6 different trading options between $25k and $1 million. You only need to pay a single audition fee for access. There are no monthly payments or hidden payments waiting in the wings. Just keep SurgeTrader’s rules in mind when trading and your work will be uninterrupted until the end.

SurgeTrader Proprietary Trading Firms Features

  • Clear Trading Rules
  • One-Time Audition Fee
  • Instant Funding
  • Easy Payout
  • Flexible Trading
surge trader review

SurgeTrader Pros and Cons

  • No Minimum Trading Days: You can trade for exactly as long as you like when working with Surge Trader. No need to worry about hitting a minimum threshold.
  • User Friendly Portal: It’s easy to trade and navigate through SurgeTrader’s well made dashboard. Your loss limits, profit target, and returns are all clearly visible at all times.
  • Difficult Auditions: SurgeTrader trusts you with quite a lot of money and they want to be sure they pick the right people. Because of that, their evaluations are much more difficult compared to other prop firms.
Bottom Line: SurgeTrader is an excellent prop trading firm for anyone looking to trade high amounts with limited restrictions. But if you’re unable to meet their strict audition standards, you may be better off with a beginner-friendly option like Topstep.

Proprietary Trading Firm FAQs

How to choose the best prop trading firm for you?

Look at factors like minimum trading requirements for getting funded, consider their fees, the UX of their trading platform, what other services they offer, look at reviews about customer service, as well as their reputation and ratings.

Are prop trading firms legit?

Most are but that doesn’t mean they all are. The ones we have vetted above are all legit, but always make sure to do your own homework and ask them the tough questions. If it seems too good to be true or they are steer away from questions with excuses then look elsewhere, but you won’t have that problem with the proprietary trading firms we have listed.

How do proprietary firms work and make money?

The best prop trading firms use advanced algorithms to access massive amounts of data to identify the most profitable opportunities. Proprietary firms then trade their capital with the intent of turning a profit. As with any investment opportunity, prop traders need to manage their risks to not take on bigger losses than they can afford. If you can analyze markets well enough, use their trading skills, and stay on top of business news to make worthwhile trades.

Kenneth W. Boyd

Kenneth W. Boyd is a former Certified Public Accountant (CPA) and the author of several of the popular "For Dummies" books published by John Wiley & Sons including 'CPA Exam for Dummies' and 'Cost Accounting for Dummies'.

Ken has gained a wealth of business experience through his previous employment as a CPA, Auditor, Tax Preparer and College Professor. Today, Ken continues to use those finely tuned skills to educate students as a professional writer and teacher.