It doesn’t matter how great of a forex trader you are. Without a lot of money, it can take a really long time to create significant wealth. For example, a 100% return on $100 only gives you $200, whereas a 100% return on $100,000 leaves you with $200,000.
Fortunately, there are funded trading accounts, also known as prop firms, that allow you to trade forex using borrowed funds. These platforms allow skilled traders the chance to earn greater profits and become successful traders.
But what are the best funded forex trading accounts out there? After all, there are dozens, and the last thing you want to do is waste your time with a bad one.
To help you save time and energy, this article will run down six of the best funded forex trading accounts. This will enable you to figure out which one (or ones) might be best for you so you can start earning larger profits on your trading skills.
Breaking Down the Best Funded Forex Trading Accounts
First off, what is a funded forex trading account? This is simply an account that a trader has access to in order to trade forex using a financial firm’s money. The companies that provide such funded accounts are commonly known as “prop firms.”
Funded forex trading accounts can vary a lot, but they also tend to share many common features. Here are some key aspects of funded forex accounts to consider:
- Minimum deposits – Funded accounts exist to help aspirational traders get access to funds they can trade. A high minimum deposit can thus defeat the purpose. If you are hoping to get started at a low cost, be sure to consider any minimum deposit requirements.
- Trading platform – Not all funded forex accounts have great trading platforms, while others have top-tier platforms with leading analytics and research.
- Trading capital – Some funded forex accounts will provide you with $10,000, while others may fund traders all the way up to $1 million or even more. Depending on your preferences and comfort level with managing large sums, you may prefer certain funded forex accounts over others.
- Profit targets – Most funded accounts require you to meet a certain profit goal in a given timeframe. If you don’t, then you can’t secure your funding. It’s a good idea to aim for a profit target that’s reasonable rather than always shooting for the moon.
- Daily loss limits – When using a funded account from a prop firm, make sure you track your loss limits. If you fail to follow them you will put yourself in jeopardy of losing your funding.
- Educational resources – Many funded account platforms have great educational resources, including community forums, chats, and even ebooks that can help you become a more profitable trader. Others, however, have very little in the way of educational support. If you’re more of a beginner or intermediate trader, it may be wise to choose a platform that can help you learn.
What to look for in funded forex trading accounts
In addition to the above features, here a few more aspects to consider when it comes to choosing the right funded forex account for you:
- Fees – When it comes to fees for funded accounts, you should be keeping most of the profits, as in 80-90+%. Ideally, there will be a low monthly fee and any other fees will be minimal.
- Track record – Some funded accounts come from prop firms with excellent ratings on sites such as TrustPilot, which allows you to have confidence in their track record.
- Withdrawal policies – You want access to your trading profits, right? Yeah, that’s what we figured. Different funded accounts have different policies in terms of withdrawal, so make sure you understand the policy before signing up.
- Support – What kind of support is there? Email? Chat? Can you actually talk to a human being? Depending on your personal preferences, it’s a good idea to see what level of customer support they have, as well as educational support.
The 6 Best Funded Forex Trading Accounts
First up we have FTMO, a well-known prop firm that provides funded forex accounts to traders who meet their eligibility criteria. The process to gain eligibility involves two parts.
To earn your FTMO funded forex account, you must first pass the FTMO Challenge. It works by asking you to demonstrate your trading abilities with a simulated account. You then move onto a live account in order to pass the Verification phase by trading with an increasing amount of funding.
One great feature of FTMO is that they emphasize news trading, which is common among day traders and forex traders. The principle is to react quickly to national and international economic events, company financial news, etc. “Trading the news” is helpful when looking to profit off short-term market movements and volatility, and FTMO helps its traders lean into this strategy.
FTMO has a strong track record, including repeated placement among Deloitte’s Technology Fast 50. If you would like to explore FTMO’s offerings and take advantage of a free trial, simply click here.
Next up we have OneUp Trader. As its name suggests, OneUp Trader aims to have a leg up on its competition. A fast-growing provider of funded accounts, OneUp offers various funded trade accounts, from $25,000 to $250,000.
While many funded account providers require a two-part or three-part evaluation process, OneUp Trader has a simple one-step process. This lets eligible traders get started in no time. Once you start trading, you will need to trade at least fifteen days to meet your profit target. Once you do so, you’ll get placed with one of their funding partners.
Some top benefits of trading with OneUp Trader are its robust analytics, its support for many trading platforms, and its lack of data fees (which are fairly common with many prop firms).
Unfortunately, many prop firms don’t have a great track record, but that’s not the case with OneUp Trader. Currently boasting a 4.7/5 score on TrustPilot, you can set your worries aside when it comes to OneUp Trader’s legitimacy. To check it out for yourself, simply click here so you can learn more and start your free trial.
Fidelcrest offers funded accounts where traders can access a huge variety of assets, including stocks, indices, commodities, and, yes, forex. Since it was in fact started by forex traders, Fidelcrest is one of the best prop firms when it comes to funded forex accounts.
To get into the Pro Trader Program, you have to show your trading savvy by completing a two-step evaluation process. First, you do the Fidelcrest Trading Challenge, which is a 30-day trial period. After completing that, you move on to the Verification phase, which is similar but requires 60 days.
One nice thing about Fidelcrest is its flexibility. Traders can also start off with their Micro Trader Program. This program allows newer traders to test their skills before taking on a larger funded account. These accounts range from $10,000 to $50,000, while the Pro Trader accounts range from $150,000 all the way up to $1,000,000. Yes, $1 million!
Some key features of Fidelcrest include the ability to scale up to $2,000,000 and the fact that traders keep 80-90% of their trading profits. The account pricing is also highly competitive with other platforms that provide funded forex accounts.
Click here to explore Fidelcrest and begin their Trading Challenge at your convenience.
The Funded Trader
The Funded Trader Program is another excellent choice for those looking to trade forex with a funded account. This prop firm offers a unique approach to the funded trading account model, with a focus on providing a supportive and educational environment for its traders.
To get started with The Funded Trader, you must first pass their Trading Evaluation. This involves trading a demo account with specific profit targets and drawdown limits. Once you pass this evaluation, you are eligible for a funded account.
One of the standout features of The Funded Trader Program is its emphasis on education and support. They offer a comprehensive training program that covers everything from basic forex concepts to advanced trading strategies. This makes it a great choice for both beginner and experienced traders.
Additionally, The Funded Trader Program offers a generous profit split, with traders keeping up to 80% of their profits. They also offer flexible trading conditions, with no restrictions on trading styles or strategies.
Click here to learn more about The Funded Trader and start your trading journey today.
Audacity Capital is a London-based prop trading firm that offers funded forex trading accounts. They have a unique approach to prop trading, focusing on developing their traders through education and support.
To get started with Audacity Capital, you must first pass their Trading Challenge. This involves trading a demo account with specific profit targets and drawdown limits. Once you pass this challenge, you are eligible for a funded account.
One of the standout features of Audacity Capital is its emphasis on trader development. They offer a comprehensive training program that covers everything from basic forex concepts to advanced trading strategies. This makes it a great choice for both beginner and experienced traders.
Additionally, Audacity Capital offers a generous profit split, with traders keeping up to 50% of their profits. They also offer flexible trading conditions, with no restrictions on trading styles or strategies.
Click here to learn more about Audacity Capital and start your trading journey today.
Lux Trading Firm
Lux Trading Firm is a prop trading firm that offers funded forex trading accounts. They have a unique approach to prop trading, focusing on providing a supportive and educational environment for their traders.
To get started with Lux Trading Firm, you must first pass their Trading Evaluation. This involves trading a demo account with specific profit targets and drawdown limits. Once you pass this evaluation, you are eligible for a funded account.
One of the standout features of Lux Trading Firm is its emphasis on education and support. They offer a comprehensive training program that covers everything from basic forex concepts to advanced trading strategies. This makes it a great choice for both beginner and experienced traders.
Additionally, Lux Trading Firm offers a generous profit split, with traders keeping up to 80% of their profits. They also offer flexible trading conditions, with no restrictions on trading styles or strategies.
Click here to learn more about Lux Trading Firm and start your trading journey today.
City Traders Imperium
City Traders Imperium is another top firm when it comes to opening a funded forex trading account. This prop firm has established a strong reputation thanks to its transparency and flexibility.
While many funded account firms play into the idea of getting rich quickly to entice prospective traders, City Traders Imperium offers comprehensive educational resources and is straightforward about what you can expect.
To get started with City Traders, you must first go through one of its evaluation programs, like the Day Trading Challenge (for forex, indices, and commodities). Alternatively, you can pay a larger sum to receive direct funding immediately. This may be a great option for experienced traders who have a certain degree of capital and are confident in their ability to start earning profits right away.
Another way that City Traders Imperium stands out is through their free consultation call. This call provides you with access to a trading professional who will study your trading approach and psychology to see how you might improve your trading profitability.
Click here to check out City Traders Imperium and become a funded trader through one of their evaluation plans or by opting for direct funding.
OspreyFX is another reputable prop trading firm that offers funded forex trading accounts. This firm is known for its straightforward and transparent approach to prop trading, making it a great choice for traders of all experience levels.
To get started with OspreyFX, you must first pass their Funded Live Account Challenge. This involves trading a demo account with specific profit targets and drawdown limits. Once you pass this challenge, you are eligible for a funded account.
One of the standout features of OspreyFX is its emphasis on transparency and simplicity. They offer clear guidelines for their trading challenge and provide a straightforward path to a funded account. This makes it a great choice for traders who appreciate a no-nonsense approach to prop trading.
Additionally, OspreyFX offers a generous profit split, with traders keeping up to 80% of their profits. They also offer flexible trading conditions, with no restrictions on trading styles or strategies.
Click here to learn more about OspreyFX and start your trading journey today.
SurgeTrader is last on our list but certainly not the least. This prop trading firm has simple rules and a streamlined process to funded forex trading.
Compared to some of its competitors, which require multi-step processes, SurgeTrader offers a one-step process. Plus, it allows for nearly any type of trading activity, including forex and many other assets.
The SurgeTrader platform offers a profit split of up to 90% and sets no minimum trading days requirement, which is really helpful for people with busy lifestyles who can’t commit to trading every single day.
SurgeTrader also has simple rules compared to some of its competitors, including a 4% daily loss limit, 5% maximum drawdown, and 10% profit target, no matter what account level you have. This makes it really easy to use.
To explore SurgeTrader for yourself, click here so you can see if it might be right for you.
Which is the best funded forex trading account?
The best funded forex trading account will depend on your unique trading goals and needs. While the six prop firms reviewed above are all strong options, they each have their strengths and weaknesses.
Taking a few moments to consider the criteria listed at the start of this article will help you decide which prop firms are best for you. Ultimately, your funded forex trading account shouldn’t be a huge hassle to get, and it should pay you out a good 80-90% of your profits. After all, you’re the one with the trading skills creating the profits.