Finding the best forex prop firms in Colombia might seem tricky. After all, there are hundreds of prop trading firms available in the market. But worry not, as we have reviewed 150+ forex prop firms and have found the best 5 forex prop firms for you to choose from.
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
Five Percent Online Ltd., or The5ers, was established on April 9, 2020, with its main office located in London, United Kingdom, and Raanana, Israel. Since 2007, organization CEO Gil Ben Hur has been actively involved in foreign exchange trading, with a particular emphasis on order flow and price-action methodologies. In collaboration with a liquidity provider to obtain direct access to the market, The5ers offers three account tiers and employs a three-step screening process to facilitate immediate funding. Ben Hur, in his capacity as CEO of The5ers, supervises the organization’s growth and fundraising initiative, which is constructed upon an exclusive proprietary trading platform. Prior to establishing The5ers in 2016, Ben Hur held positions as a portfolio manager and trading coach.
Features
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 is a trading firm that was founded by Surge Capital Ventures, LLC in September 2021. The firm was founded by Jana Seaman, a venture capitalist, with the intention of providing investment prospects to proficient traders who possessed exceptional trading strategies but had restricted capital.
SurgeTrader, which is backed by Seaman’s firm Valo Holdings, distinguishes itself from traditional proprietary trading organizations through its transparent and straightforward trading regulations. SurgeTrader, a financial platform with its main office situated in Florida, has experienced substantial global growth and offers traders enhanced funding options to optimize their accomplishments.
Features
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
Established in 2018, Fidelcrest is a Cyprus-based global proprietary trading firm with its headquarters in Nicosia. The organization’s objective is to empower seasoned traders by providing them with real-money capital of up to $400,000. Untypical in the industry, the proprietorship of the company remains undisclosed, notwithstanding the management team’s more than ten years of experience in forex trading.
With the intention of facilitating consistent profits for individual clients, Fidelcrest offers a variety of account sizes to over 6,000 active traders worldwide. Following an evaluation procedure, their trading challenge consists of financed trading on over a thousand instruments. Traders must adhere strictly to the terms outlined in their Trader Agreement in order to avoid having their accounts terminated.
Features
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, formally referred to as Iconic Exchange FZCO, was established in Dubai, United Arab Emirates, in September 2021. It offers three distinct account types and two two-step evaluations in collaboration with ThinkMarkets as brokers, under the direction of CEO Sean Baiton. Prior to its June 2021 name change, Blue Guardian Capital operated as an educational organization and provider of Forex signals.
By 2023, the organization plans to significantly enhance its platform with the objective of attaining the leading position in South Africa and other geographical areas. After undergoing a two-stage assessment procedure, funding accounts are granted to experienced and professional merchants. Sean Bainton is the current founder and CEO of Blue Guardian Capital.
Features
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
Since August 2, 2023, MyFlashFunding, a privately held organization established on April 27, 2023, has been conducting business. The organization is led by CEO Blake Carter and maintains its headquarters in the United States. A comprehensive two-step evaluation challenge and a streamlined one-step evaluation are the two distinct funding programs offered by the organization.
Trading professionals have the ability to consolidate accounts worth a maximum of $400,000 and potentially $2,000,000. ThinkMarkets serves as the brokerage platform for MyFlashFunding, which operates on MetaTrader 4 or MetaTrader 5. Their office is located at 331 Park Central East, Springfield, Missouri.
Features
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.
Choosing the Best Forex Prop Firms in Colombia:
Forex trading in Colombia, like in many countries, has gained significant popularity among individual traders and investors looking to capitalize on the fluctuations of currency exchange rates. The global forex market offers Colombians the opportunity to trade a wide range of currencies, including major pairs (like EUR/USD, USD/JPY) and emerging market currencies. Here’s an overview of the forex trading landscape in Colombia:
Forex Prop Trading Regulations in Colombia
The regulatory environment for forex trading in Colombia is overseen by the Superintendencia Financiera de Colombia (SFC), which is responsible for ensuring the stability and transparency of the financial system. However, the forex market itself operates globally and is not centralized, which means traders often engage with brokers based outside of Colombia that are regulated by international authorities such as the UK’s Financial Conduct Authority (FCA) or the Cyprus Securities and Exchange Commission (CySEC).
Choosing a Broker
Colombian traders should exercise caution when selecting a forex broker. It’s essential to choose a broker that is reputable and regulated by a stringent regulatory body to ensure trading practices are fair and funds are secure. Many international brokers accept traders from Colombia, offering platforms in Spanish and tailored services to meet their needs.
Trading Platforms and Tools in Colombia
Traders in Colombia have access to advanced trading platforms such as MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which provide comprehensive analysis tools, real-time data, and automated trading capabilities. Educational resources, market analysis, and customer support are often available in Spanish, making forex trading more accessible to the Colombian market.
Taxation and Legal Considerations in Colombia
Forex trading profits in Colombia may be subject to taxation, and it’s advisable for traders to consult with a tax professional to understand their tax obligations. The legal framework for forex trading is complex, and staying informed about local regulations and international brokerage policies is crucial.
Challenges and Opportunities for Prop Traders in Colombia
While forex trading offers the potential for profit, it also comes with high risks, especially due to the leverage involved in trading. Colombian traders should be aware of the risks, invest time in education, practice risk management, and start with demo accounts to build experience.
Forex trading in Colombia reflects the global nature of the forex market, with local traders participating alongside international investors. As the market continues to evolve, Colombian traders are well-positioned to take advantage of the opportunities forex trading offers, provided they navigate the risks and regulatory landscape wisely.
What are the best forex prop firms in Colombia?
The best proprietary trading firms in Colombia are:
These rankings are based on a variety of factors including trading conditions, platform, fees, online reviews, history, and many others.
Best Forex Prop Firms in Colombia: Conclusion
We hope you found this guide on the best forex prop firm in Colombia helpful. If you have any questions or doubts, feel free to share them below in the comments section.
You can choose one or multiple prop trading firms based on your investing requirements. We recommend keeping your portfolio diverse and having a trading account with at least 2 different prop trading firms.
What are your thoughts on the best forex prop firms in Colombia? Let us know below:
