Forex is the biggest market globally and the first step of many beginner traders. While you don’t need significant capital to make money trading forex, it surely gets easier if you have enough funds to apply more sophisticated strategies or trade at scale. Fortunately, there is a way to trade big and punch above your weight even if you start forex trading with limited capital.
With most profitable forex traders making 3-5% gain per month, on average, it can be really hard to reach the level where you are able to trade full time. Although the barrier of entry in forex trading is very low to get started, you will need a large amount of capital to take this industry seriously if you are getting average returns in the market. This is where prop firms come into the mix, offering funded accounts to forex traders getting consistent returns, to choose which prop firm is fits you we made review for Top 4 Funded Trader Programs in 2022.
True Forex Fund is a new prop firm offering capital to profitable forex traders around the world. The firm is completely online, meaning traders from anywhere in the world have the option to get funded and progress their trading career.
Although the company is funding traders worldwide, they are based in Hungary. There seems to be more and more prop firms coming out of eastern european regions, which is something to keep our eyes on in the future.
True Forex Funds offer traders funded accounts ranging from $10,000 to $200,000, with the option to scale to $400,000 for those traders getting extremely consistent results. The trading conditions and rules are very similar to some of the world’s leading prop firms like FTMO.
The5ers is a funded trader platform and growth program that funds the top forex talents and helps them make the leap to becoming full-time traders. The goal is to enhance the career of the best and brightest traders worldwide and allow them to earn higher profits than when trading currencies on their own and with limited capital.
The story of the funded account provider begins in 2016 when Gil Ben Hur and Snir Achiel, two professional forex traders, launched the prop trading firm. The founders were united in their views due to a common problem they both had. They had the skills but lacked the capital to gain significant profits. After finding out that many others struggle with the same issue, they decided to launch a career-building platform that supports currency traders from all across the world.
What started as a small community quickly became one of the top prop firms in the industry, enjoying a continuously increasing demand for its products and services. Today, the company operates from its headquarters in Israel but also has a UK office in London.
To date, the prop firm continues to develop and fund skilled beginner and professional traders by allowing them to make profits without risking their own capital. The platform enables users to trade real money from day one without any requirements for qualification or self-funding.
FTMO Are obviously the grandfather of the industry. They were the first to the party and really laid the ground for the rest of the prop firms to walk on, including MyForexFunds.
FTMO started its business operations in 2020 and has seen immense growth since its inception. Today, FTMO has registered traders in 180+ countries. Over 6 million trades are opened every month, and $27 million have been paid out so far in 2022, with an average payout processing time of only 8 hours.
FTMO has been featured on Forbes and won the Deloitte Technology Fast 50 award 3 years in a row. Their evaluation process consists of the FTMO Challenge and the Verification. Traders who succeed evaluation process are offered a position in the FTMO Proprietary Trading firm where they can manage an account balance of up to $400,000.
An extensive trading journal for account analysis and excellent educational resources make the offer complete and attractive for beginner traders and experts.
My Forex Funds are a fairly new player on the scene, founded just a year ago in July 2020. As of 2022, they had a small brand and have now funded over 40,000 traders with forex trading capital. The firm is rapidly becoming a director competitor of some of the largest and more established companies, due to the great reputation and very similar trading conditions offered. As I keep updating this article every few weeks, it’s becoming clear that this is the fastest growing prop firm in 2022!
Unlike a lot of companies offering to fund forex traders, they have 3 different levels or structures, depending on your experience as a trader, ranging from brand new to full time traders!
If you’re looking to grow a large trading account and potentially pull large profits out of the markets, this could be the company for you
As mentioned previously, they are offering 3 different types of account depending on your experience levels, which is great. Throwing a new forex trader in with a $100,000 live account and very strict rules is quickly going to end in disaster, so breaking down the different categories depending on experience seems like a really nice idea and that makes MyForexFunds quite unique.
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