Proprietary trading (prop trading) firms have grown in popularity as they provide traders access to large amounts of capital without requiring personal funds. In return for accessing this capital, traders share a percentage of their profits with the firm. In 2024, the prop trading landscape is expanding, with firms offering better profit splits, more flexible trading conditions, and robust support systems for both novice and experienced traders. This article will highlight 12 of the best prop trading firms in 2024 that have proven to work effectively, providing traders with the tools and capital they need to succeed.
1. FTMO
FTMO remains a leading name in the prop trading world due to its structured evaluation process, generous profit splits, and scalability. FTMO offers traders a clear path to accessing up to $400,000 in trading capital after passing their two-step evaluation process.
Key Features:
Profit split: FTMO offers traders an 80/20 profit-sharing model.
Capital scaling: Traders can increase their account size by 25% every four months based on consistent performance.
Risk management: FTMO enforces a strict risk management system, helping traders maintain discipline.
Case Study:
In 2023, a forex trader who completed FTMO’s evaluation was able to scale their account from $100,000 to $200,000 within six months by following risk management rules and growing profits consistently.
2. The5ers
The5ers focuses on providing long-term capital scaling for traders. This firm allows traders to increase their capital to up to $4 million, making it a great choice for those looking for stability and growth over time.
Key Features:
Profit split: 50/50 split with room to grow as traders increase their account size.
No time limits: Traders can meet profit targets at their own pace, without deadlines.
Relaxed risk management: Ideal for swing traders and those with long-term strategies.
3. Topstep Forex
Topstep Forex offers traders an educational-focused approach, helping them develop their skills while progressing through a two-phase evaluation process. Topstep Forex is known for its high-profit split and structured coaching programs.
Key Features:
Profit split: Traders can earn up to 90% of profits.
Coaching support: Topstep provides coaching and feedback to help traders improve their risk management and trading skills.
Two-step evaluation: A clear evaluation process that ensures traders are consistent and disciplined.
4. MyForexFunds
MyForexFunds is gaining popularity for its flexibility and competitive entry costs. The firm offers multiple account types, including rapid accounts for beginners and evaluation accounts for experienced traders.
Key Features:
Profit split: Up to 85/15 split for fully funded traders.
Capital scaling: Traders can access up to $300,000 in trading capital after passing the evaluation process.
Flexible evaluation: MyForexFunds gives traders ample time to meet their profit targets.
5. Fidelcrest
Fidelcrest is well-known for providing traders with access to large trading accounts and a competitive profit-sharing model. Its evaluation process is straightforward, making it a great option for traders looking for simplicity and transparency.
Key Features:
Profit split: 80/20 with room to grow based on performance.
High capital: Traders can access up to $1 million in capital.
Aggressive and standard accounts: Fidelcrest offers different account options to suit varying risk appetites.
6. BluFX
BluFX offers immediate funding without an evaluation phase, making it one of the few prop firms that allows traders to start trading right away. BluFX operates on a subscription model where traders pay monthly to access capital.
Key Features:
No evaluation required: Instant access to up to $50,000 in trading capital.
Monthly subscription: Traders pay a monthly fee to maintain their funded account.
Risk management: BluFX enforces a 5% maximum drawdown, promoting disciplined trading.
7. True Forex Funds
True Forex Funds has gained a reputation for being one of the fastest-growing prop firms in the industry. Traders benefit from a quick evaluation process, competitive profit splits, and an easy-to-navigate trading dashboard.
Key Features:
Profit split: 80/20 split, with the potential to increase based on performance.
Fast evaluation: Traders can pass the evaluation phase in as little as 8 days.
Real-time analytics: The firm offers a performance dashboard to track progress.
8. City Traders Imperium (CTI)
City Traders Imperium emphasizes mentorship and education in addition to its funded trading program. CTI is an ideal firm for traders who want to grow their skills while gaining access to trading capital.
Key Features:
Profit split: 50/50 with potential to increase as traders scale.
Mentorship: CTI provides one-on-one coaching to help traders refine their strategies.
Scaling plan: Traders can scale their capital up to $4 million as they grow their account.
9. E8 Funding
E8 Funding is a newcomer to the prop trading space but has quickly become popular due to its transparent rules, fast evaluation process, and strong technology platform.
Key Features:
Profit split: Offers an 80/20 profit split.
Quick evaluation: Traders can complete the evaluation process in as little as 8 days.
Advanced technology: E8 Funding provides real-time performance analytics and an easy-to-use trader dashboard.
10. SurgeTrader
SurgeTrader offers traders a streamlined evaluation process with straightforward trading rules, making it an attractive option for those who want to avoid complex requirements.
Key Features:
Single-step evaluation: SurgeTrader has a one-phase evaluation process to qualify for funding.
Profit split: Offers a 75/25 profit split with room to increase based on performance.
Risk management flexibility: Traders are given more flexibility with no daily loss limits.
11. Lux Trading Firm
Lux Trading Firm is known for its long-term growth plans and focus on risk management. The firm caters to conservative traders who prioritize capital preservation while scaling up their trading accounts.
Key Features:
Capital scaling: Traders can grow their accounts up to $10 million with consistent performance.
Educational resources: Lux provides comprehensive educational support, including market analysis tools.
Risk management: The firm emphasizes capital preservation and sustainable trading.
12. The Trading Pit
The Trading Pit is a versatile prop firm that offers traders access to forex, commodities, indices, and crypto. It stands out for its variety of funding options and transparent evaluation process.
Key Features:
Wide range of instruments: Traders can trade forex, crypto, commodities, and indices.
Profit split: Offers an 80/20 split with room to grow based on performance.
Scaling plan: Traders can grow their accounts to significant capital with consistent results.
Trends in Prop Trading for 2024
As prop trading continues to evolve, several trends are shaping the industry:
1. Advanced Technology Integration
Many prop firms are incorporating AI-driven tools and automated analytics to help traders track performance, manage risk, and identify opportunities in real-time. Firms like E8 Funding are leading this trend, offering traders a data-driven approach to trading.
2. Better Profit Splits and Flexible Conditions
With increasing competition, prop firms are offering better profit splits to attract skilled traders. Firms like Topstep and MyForexFunds are setting the benchmark with profit splits of up to 90%. Additionally, firms are providing more flexible evaluation processes, giving traders more time and leeway to meet targets.
3. Focus on Education and Development
Many firms, such as City Traders Imperium and Lux Trading Firm, are placing a strong emphasis on trader education. These firms offer personalized mentorship, workshops, and access to learning resources, helping traders grow professionally while managing large capital accounts.
Conclusion
The prop trading firms highlighted above offer a range of options for both novice and experienced traders in 2024. Whether you’re looking for immediate funding with BluFX, long-term scaling with The5ers, or structured mentorship with City Traders Imperium, these firms provide the tools and support needed to succeed. As the industry continues to grow, prop firms are offering better conditions, higher profit splits, and more flexible trading opportunities.
