Best Forex Prop Firms (2024 Update)

Finding the best forex prop firm can seem challenging. But fret not because I have researched and reviewed 100+ forex trading companies to create this list.

These ratings are based on my personal experience, customer reviews, company history, trading technology, and plenty of other factors.

Choose any one of these below (or choose multiple!) and start your forex prop trading journey today:

Best Forex Prop Firms 2024

Account size up to:
$1,000,000
Use Code: SurgeTrader9850550 for Exclusive Discount
*Choose your account type and start trading

4.5

1. The 5ers 

Pros 

  • 4.8 out of 5 on Trustpilot
  • Three distinct financing initiatives
  • Dashboard for a professional trader
  • Maximum leverage of 1:100 combined with large stakes
  • There is no time limit on trading
  • A scaling strategy is offered
  • Weekly payments every two weeks
  • 80–100% profit share
  • Weekend and overnight holding is permitted
  • Trading news is permitted, excluding large stakes
  • An inexpensive boot camp experience

Cons 

  • Hypergrowth and boot camps: minimal leverage
  • Bootcamp: Risk and stop-loss requirements for each position
  • Hypergrowth: Initial payment following a 10% profit
  • High stakes: Requirement for a minimum profitable day
  • High-risk situation: Not trading news

About The5ers

The5ers or Five Percent Online Ltd, was founded on April 9, 2020, with headquarters in Raanana, Israel, and London, UK. CEO Gil Ben Hur leads the organization and has been engaged in forex trading since 2007, focusing on order flow & price-action approaches. The5ers has three account options and utilizes a three-step screening procedure to enable immediate funding, collaborating with a liquidity provider for direct access to the market. As the CEO of The5ers, Ben Hur oversees the company’s fundraising and growth program, which is built on a unique proprietary trading platform. Before founding The5ers in 2016, Ben Hur was employed as a trading coach and portfolio manager.

Features of The5ers

The5ers is a prop firm that provides three separate account kinds, each with its characteristics. These include limitless trading periods, no minimum trading days (save for High Stakes), low evaluation fees (Bootcamp), no evaluation phases (Hyper Growth), initial withdrawal after 14 days (High Stakes & Bootcamp), bi-weekly withdrawals, and profit shares of up to 100%.

The three account types are as follows: Bootcamp, which is a three-step evaluation process with a 6% profit target and a 5% maximum loss; Instant Funding, which allows funded traders to enjoy a 3% daily pause and a 4% maximum loss; and Two-Step Evaluation, which is similar to Bootcamp but has a more flexible scaling plan that allows for larger account management.

The5ers distinguishes itself from its competitors in the market by offering more versatility, cost-effectiveness, and profit-sharing. It’s a good choice for traders who want to enhance their expertise.

2. Surge Trader

Pros

  • 75% of profits are divided (90% with add-on).
  • Variable fees & account options
  • One-time payment for the audition
  • open procedures and regulations
  • A reasonable 10% profit goal
  • Adaptability in trading tactics
  • 30 days of free BKForex membership
  • Quick withdrawals with no restrictions

Cons 

  • A short overview since May 2021
  • Every trade requires a stop loss, with a 5% daily maximum loss.
  • Few resources available for schooling
  • Maximum open lots limited to 1/10000 of total account size
  • Leverage: 2:1 for the cryptocurrency market; 5:1 for stocks; 10:1 for Forex, metals, indices, and oils

About SurgeTrader

SurgeTrader is a trading firm established in September 2021 under Surge Capital Ventures, LLC. Jana Seaman, a venture entrepreneur, established the firm to offer investment opportunities to skilled traders with outstanding trading tactics but limited resources. 

SurgeTrader, supported by Seaman’s company Valo Holdings, sets itself apart from conventional proprietary trading organizations by its clear and uncomplicated trading regulations. SurgeTrader, headquartered in Florida, has seen rapid worldwide expansion and provides traders with increased funding opportunities to maximize their achievements.

Features of SurgeTrader

SurgeTrader ensures traders are presented with uniform trading terms at all account tiers, encompassing a daily loss limit of 5%, a maximum drawdown of 8%, and a profit target of 10%. The platform provides educational resources and more than a hundred instruments, enabling the practice of a wide variety of trading strategies.

Costs and Plans:

  • Free: Paper trading for platform exploration for 30 days at no cost.
  • Paid: Paid funding ranging from $25,000 to $1,000,000 is available.
  • Audition costs differ.
  • Although it is possible to scale accounts, traders will be required to repeat the audition process if profit margins are not achieved.

3. Fidelcrest 

Pros

  • Rational trading objectives
  • Profit divided up to 90%
  • Excellent client service
  • Support for the platforms MT4 and MT5
  • No necessity for a minimum number of trading days
  • Trading is available on weekends.

Cons 

  • Discourages an unorganized strategy
  • Absence of information regarding the management team

About Fidelcrest

Founded in 2018, Fidelcrest is a global proprietary trading company with its main office located in Nicosia, Cyprus. The company’s goal is to enable knowledgeable traders by giving them access to real money up to $400,000. Despite the management team’s more than ten years of forex trading experience, the ownership of the company is still unknown, which is not typical in the industry. 

Fidelcrest aims to enable consistent profits for individual customers by providing a range of account sizes to more than 6,000 active traders globally. Their trading challenge consists of financed trading over more than 1,000 instruments after an evaluation process. Traders must, however, closely follow the terms of their Trader Agreement to prevent account cancellation.

Features of Fidelcrest

Fidelcrest is a great platform for trading challenges, providing increased maximum balances, profit sharing, plus exclusive features. Traders can benefit from zero minimum trading requirements and weekend trading, enabling them to capitalize on market opportunities outside of standard trading hours. Fidelcrest is renowned for offering outstanding 24/7 customer support by seasoned professionals, aiding traders in overcoming obstacles and enhancing their likelihood of success. 

The trading challenge provides traders with a valuable opportunity to evaluate, practice, and optimize their skills. It is supported with appealing features and profit-sharing arrangements, making it perfect for anyone looking to progress in their trading pursuits.

4. Blue Guardian

Pros

  • Relaxed trading regulations
  • Supported trading hours including weekends and copies.
  • Standard profit splits in the industry
  • Permitted by expert advisors
  • Demonstrations up to $1,800,000
  • Weekend and overnight holding is allowed.
  • Profit sharing of up to 85%
  • High Funding Levels

Cons 

  • Maximum daily drawdown depending on equity
  • 8% is the initial maximum drawdown on Unlimited Guardian.
  • Rapid Guardian’s trailing drawdown and its restricted support channels
  • Restricted trading networks

About Blue Guardian

 In September 2021, Blue Guardian, officially known as Iconic Exchange FZCO was founded in Dubai, United Arab Emirates. Under the direction of CEO Sean Baiton, it provides two two-step evaluations in collaboration with ThinkMarkets as brokers and three different account kinds. Before changing its name in June 2021, Blue Guardian Capital was a Forex signal provider & educational organization. 

The company intends to revamp its platform by 2023 and aim for the top spot in South Africa and other regions. Following a two-phase evaluation process, funding accounts are available to professional and seasoned traders. Blue Guardian Capital’s founder and CEO at the moment is Sean Bainton.

Features of Blue Guardian

The Guardian Protector from Blue Guardian is a risk management and trader equity protection solution. Trades will automatically close if a trader hits their daily loss threshold. This risk management feature, which establishes percentage restrictions on losses, is provided free of charge in evaluation accounts. It’s crucial to remember that market conditions could prevent quick execution. After enabling this function, traders are ultimately in charge of making sure their trading stays within the designated loss limitations.

5. MyFlashFunding 

Pros

  • Unlimited period of trade
  • No limitations on trading
  • The best scaling strategy obtainable
  • Prompt payment within seven days
  • Fast financing procedure
  • High ratings on Trustpilot
  • Simple platform setup
  • Low-revenue objectives
  • No minimum amount is needed to trade

Cons 

  • No retry option available
  • A bit costly
  • Insufficient support system
  • High Commission Costs: $7 for Each Round Lot

About My Flash Funding

MyFlashFunding is a privately held company that was founded on April 27, 2023, and has been in business since August 2, 2023. Under the direction of CEO Blake Carter, it has its headquarters in the US. The company provides two different funding programs: an extensive two-step evaluation challenge and a simplified one-step evaluation. 

Accounts up to $400,000 and potentially up to $2,000,000 can be combined by traders. MyFlashFunding uses ThinkMarkets as its brokerage platform and runs on either MetaTrader 4 or MetaTrader 5. Springfield, Missouri’s 331 Park Central East is the address of their office.

Features of My Flash Funding

A prop company called MyFlashFunding provides two distinct account kinds with different assessment procedures. It distinguishes itself from other companies by offering traders biweekly rewards, no minimum trading days, & unrestricted trading with speedy withdrawals within 14 days. Completing two phases with a 6% profit target, 4% daily, & 8% maximum loss regulations makes up the Two-step Evaluation procedure. 

It also provides a scalability plan for bigger customers. In contrast to its competitors, MyFlashFunding is renowned for its adaptability, quick withdrawals, and bi-weekly payouts, which makes it a great option for traders seeking funding options with few limitations.

Best Forex Prop Firms of 2024: Conclusion

I hope you found the above list helpful. It’s best to start with an account type that matches your trading style and requirement. You can sign up with multiple prop firms to keep your trading portfolio diversified as well.

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