If you are a confident trader but not satisfied with the limited profit that you make, then you must have considered a prop firm. A proprietary trading firm, commonly known as a “prop firm,” is a financial institution that provides funds to talented traders for them to earn big. These firms offer a healthy amount of capital to the traders in return for a small percentage of the profit share. In recent times, there have been so many prop firms for global traders to choose from. These firms not only provide capital for forex, but indices, commodities, crypto, stocks, bonds, futures, and others. Let’s look at the five most popular prop trading firms in 2022.
4. Funded Trader Program
5. E8 Funding
Here, we will discuss in brief about these pro firms and give an overview if you are considered to sign up with one of them.
If you have ever thought of being a prop trader, then you must have heard of FTMO at least once. FTMO is the world’s most renowned proprietary trading firm from Prague, Czech Republic. Globally established in 2017, this prop firm has the largest amount of prop traders in its bag. Here are the stats,
FTMO is offering a maximum of $200,000 as the initial capital and up to a $2 million scale-up amount to serious traders. The firm offers up to 90% profit share and a maximum of 1:100 leverage to its traders.
FTMO is offering two funding models with a wide range of account balances. The two kinds of models have different rules to abide by. Here are the two models.
FTMO offers accounts for swing traders and a free trial opportunity.
There is an interesting scaleup plan with FTMO. A trader must trade for four months with a 10% total balance increment and have to withdraw twice out of four months to be eligible for a scaleup opportunity. With every scaleup, 25% of the account balance will be added to the trader’s capital. This increment will continue till the trader’s account reaches $2 million.
In the year 2022, the most popular prop firm that has created a huge buzz on the internet is FundedNext. This newly launched proprietary trading firm, operated from the UAE and South Asia, is one of the most opportunity-given firms at the present time. Since it launched in March 2022, FundedNext has already onboarded thousands of international traders from 150+ countries. This is the only prop firm to offer a 15% profit share from the challenge phase and a dedicated account manager for each and every trader in the company.
FundedNext is offering two funding models with a good range of funding capital. Traders can earn up to 90% and get up to $200,000 as the initial account balance.
Here are the models,
Comparatively the one-time registration fees of FundedNext, they are reasonable and this is absolutely refundable.
With FundedNext, traders can earn a profit from the get-go. The company is offering 15% profit shares in both of their funding models, Express Model (withdrawable) and the Evaluation Model (on the first real account payout).
To scale the account balance up to $4 million, traders have to grow their account balance by 10% within four months. Traders must proceed with two payouts, and the last month should be in profit. Then FundedNext will increase the traders’ account balance by 40% on each 4-month cycle. Here are their top USPs.
On August 4th, 2022, MyForexFunds, the prop firm, celebrated their two years anniversary. Operating from Toronto, Canada, the company has earned a good reputation in the industry as a prop firm. Offering up to 1:500 leverage, this prop firm is among the top to offer the most in funding capital. There are three kinds of funding models, Rapid, Evaluation and Accelerated accounts. Here are the models,
Upon completion of Phase 2, traders will be paid 2% of the profit target from Phase 1. And upon completion of 30 days in a live account (which must include 10 trading days), traders will be paid 4% of the profit target from Phase 2, their 112% refund, and their profit share.
MyForexFunds has a complex scale-up plan. If traders have achieved a profit of 10% or more within a 4-month period and at least 2 of those 4 months were profitable, MFF will increase the trader’s account size by 30% of the original account size.
4. Funded Trader Program
Established in June 2021, the new prop firm, The Funded Trader Program, is famous for its offered $400,000 funding capital balance. The company was founded by the most renowned trading coaching website, VVS Academy, and the forex signals provider, The Forex League.
There are three kinds of funding challenges with The Funded Trader, Standard, Rapid, and Royal.
With The Funded Trader, the company run by equity-based drawdown, traders can earn up to 90%. The scaleup amount is a maximum of $1.5 million, whose rules are similar to MtForex Funds. So traders need to earn 10% every month and make a payment. Then their account will increase by 10%.
5. E8 Funding
This is another relatively new proprietary trading firm that was founded in November 2021. Situated in Dallas, Texas, E8 Funding is definitely one of the good prop firms to consider. They are offering up to $250,000 as the initial funding capital and 1:100 leverage. E8 Funding provides its traders with a million as a scale-up balance and an 80% profit share.
There are two kinds of funding accounts with E8 Funding, E8 Account and ELEV8 Account.
There is a free trial opportunity with the E8 Account type, but not for EVEL8. Traders must earn a profit of at least 16% EVERY MONTH and withdraw payouts, still be in profit. Then every month, the profit before the payout will be adjusted as the increased balance in the next month’s account. And parallelly, traders’ initial daily drawdown will increase by 1% on every scaleup. So, traders can earn $2 million as their maximum account balance.
So, here are the top five most popular proprietary trading firms in 2022.