Funded trader programs have become a popular route for forex traders to access large amounts of trading capital without risking their own funds. These programs allow traders to prove their skills through an evaluation process, and if successful, they are given capital to trade, earning a percentage of the profits. In 2024, these programs are evolving, offering better profit splits, more flexible trading conditions, and access to larger funds. This article will highlight the 11 best funded trader programs for 2024, focusing on the benefits they offer to both novice and experienced traders.
1. FTMO
FTMO remains a top contender in the world of funded trader programs due to its excellent evaluation process and generous profit-sharing structure. With FTMO, traders undergo a two-step evaluation to demonstrate their consistency and risk management skills.
Key Features:
Funding up to $400,000: Traders can qualify for up to $400,000 in trading capital.
80/20 profit split: Traders receive 80% of the profits, with opportunities to increase the percentage over time.
Scaling plan: Consistent traders can grow their accounts by 25% every four months.
Case Study:
In 2023, an experienced trader went through FTMO’s evaluation process with a $100,000 account. By maintaining strict risk management, they earned $10,000 in profit in just three months, receiving $8,000 (80%) after FTMO’s share.
2. Topstep Forex
Topstep Forex offers a structured program designed for traders who want to improve their skills while accessing funded accounts. Its extensive educational resources and coaching make it an excellent choice for both beginners and intermediate traders.
Key Features:
Two-step evaluation: Traders must prove their consistency over two phases.
90/10 profit split: One of the best splits in the industry, with traders receiving 90% of their earnings.
Risk management coaching: Topstep provides training and feedback to help traders succeed in the long term.
3. The5ers
The5ers focuses on sustainable trading by offering long-term capital scaling options. The firm has a more relaxed approach to risk management, making it ideal for swing traders and those using long-term strategies.
Key Features:
Scaling up to $4 million: Traders can grow their accounts up to $4 million as they demonstrate consistent profitability.
50/50 profit split: Traders keep 50% of the profits, but higher shares are available as they progress.
No time limits: Traders have flexible time frames to meet the required profit targets.
User Feedback:
The5ers received positive feedback from traders who appreciated its relaxed approach to timelines, giving them the freedom to trade at their own pace.
4. MyForexFunds
MyForexFunds has gained significant popularity due to its low entry costs and flexibility. It offers various account types, including rapid and evaluation accounts for traders at different stages of their careers.
Key Features:
Up to $300,000 in capital: After passing the evaluation, traders can access large amounts of trading capital.
85/15 profit split: Fully funded traders keep up to 85% of the profits.
Flexible evaluation: Traders have up to 60 days to complete the evaluation, providing more time than many competitors.
5. Fidelcrest
Fidelcrest provides traders with access to large capital and competitive profit splits. Its straightforward evaluation process makes it accessible for traders who are confident in their abilities.
Key Features:
Up to $1 million in capital: Offers high trading capital for successful traders.
80/20 profit split: High-performing traders can receive 80% of the profits.
Both standard and aggressive accounts: Traders can choose the account type that best fits their trading style and risk tolerance.
6. BluFX
BluFX offers an immediate funding solution for traders who prefer not to go through a lengthy evaluation process. This firm’s subscription-based model allows traders to access capital right away in exchange for a monthly fee.
Key Features:
No evaluation: Instant access to up to $50,000 in trading capital.
Monthly subscription: Traders pay a fee to maintain access to the funded account.
Strict risk rules: BluFX has a 5% maximum drawdown rule, encouraging disciplined trading.
7. True Forex Funds
True Forex Funds is a newer prop firm that has quickly gained traction for its transparent evaluation process and competitive profit-sharing structure.
Key Features:
Fast evaluation: Traders can qualify for funding in as little as 8 days.
80/20 profit split: Traders start with an 80% share of the profits, with opportunities to increase this percentage.
Real-time analytics: True Forex Funds provides a comprehensive dashboard with performance metrics to help traders track their progress.
8. City Traders Imperium (CTI)
City Traders Imperium focuses on trader development, offering mentorship and guidance alongside its funded accounts. This firm is ideal for traders who want to grow professionally while accessing capital.
Key Features:
Scaling to $4 million: CTI allows traders to scale their accounts significantly as they show consistent results.
Personalized mentorship: Traders receive one-on-one coaching to improve their skills.
Profit split: Offers a 50/50 split initially, with opportunities for higher shares.
Case Study:
A trader who joined CTI in 2022 reported a significant improvement in their risk management skills after participating in the firm’s mentorship program. Over the course of six months, the trader achieved a 12% gain in their funded account.
9. E8 Funding
E8 Funding offers traders fast access to capital with a flexible evaluation process. The firm’s focus on technology and trader-friendly terms has made it a favorite among retail traders.
Key Features:
Quick evaluation: Traders can complete the evaluation process in as little as 8 days.
80/20 profit split: High profit retention for successful traders.
Advanced trader dashboard: Provides real-time analytics and performance tracking.
10. Lux Trading Firm
Lux Trading Firm emphasizes capital preservation and responsible trading. This firm offers long-term capital scaling opportunities and is ideal for traders with conservative risk management strategies.
Key Features:
Capital scaling to $10 million: Consistent traders can grow their capital significantly.
Risk management focus: Lux encourages conservative strategies with a focus on capital preservation.
Educational resources: Traders have access to in-depth training and market analysis tools.
11. SurgeTrader
SurgeTrader is known for its simple evaluation process and straightforward trading rules. It’s a good choice for traders who want to qualify for funding without navigating overly complex requirements.
Key Features:
Single-step evaluation: Traders only need to pass one phase to qualify for funding.
75/25 profit split: Traders keep 75% of the profits initially, with the opportunity for a higher split as they scale.
No daily loss limits: Offers more flexibility in risk management compared to other firms.
Trends in Funded Trader Programs for 2024
As the industry evolves, several trends are shaping the funded trader program landscape in 2024:
1. Increased Focus on Technology
Many prop firms are integrating advanced technology into their platforms, offering traders real-time analytics and performance tracking. Firms like E8 Funding and True Forex Funds are leading the way with sophisticated dashboards and data-driven insights.
2. Better Profit Splits
With increased competition, more firms are offering higher profit splits to attract top traders. For example, Topstep Forex’s 90/10 split and MyForexFunds’ 85/15 split allow traders to retain a significant portion of their profits.
3. Flexible Evaluation Processes
Firms are offering more flexibility in their evaluation processes, allowing traders additional time to meet profit targets or providing relaxed rules for specific trading styles, as seen with The5ers and City Traders Imperium.
Conclusion
The funded trader programs listed above offer diverse opportunities for traders at every skill level. Whether you are a beginner looking to improve your skills or an experienced trader seeking access to larger capital, these programs provide the tools and support needed for success. From FTMO’s rigorous but rewarding evaluation process to BluFX’s instant funding model, each firm offers something unique.
