Investing & Trading

The Top 5 Prop Firms Of 2023

By Samantha Baltodano


Proprietary trading, or "prop trading," has become increasingly popular over the years as more individuals seek to capitalize on the financial markets. 


In this post, we will explore the top 5 prop firms that have emerged as leaders in the industry, based on factors such as trading performance, technology, and reputation. 


Whether you're a seasoned trader looking to switch firms or a newcomer to the prop trading world, this post will provide you with valuable insights into the best firms to consider in 2023.



What Are The Top 5 Prop Firms This Year?

1 - Surgetrader

SurgeTrader allows trading of forex, metals, indices, oil, crypto, and stocks. A standard prop trading account at SurgeTrader includes $25,000 for a profit split of 75:25, a profit target of 10%, daily loss of 4%, and a maximum trailing drawdown of 5%. This package costs $250.


An intermediate account costs $400 for a maximum funding of $50,000, a seasoned trader account $700 for $100,000 funding, and an advanced trader account $1,800 for $250,000 funding.


The expert account costs $3,500 for a $500,000 funding while a master account costs $6,500 for a $1 million funding. As such, SurgeTrader is one of the prop trading companies with the widest account options out there.


However, traders are required to keep up to 75% of their profits with the capital. Furthermore, like many prop trading companies, the account limits get adjusted based on how well a trader is performing.


You must adhere to rules such as limiting risks, closing positions before the weekend, and keeping the maximum number of open lots equal to 1/10,000 the size of the account. For instance, you must not incur a loss of more than 5% up to a starting balance of +5%.


  • Profit split: Up to 75%.


Features:

  • No monthly recurring fees.
  • There are no minimum trading days for account levels, ensuring you qualify for higher funding limits quickly.
  • Trade in any strategy that works for you.


Pros:

  • Up to 75% profit split.
  • Up to $1 million trading limit.
  • Non-recurring payments to qualify for a live-funded account.
  • 1-step audition process.
  • 10% profit targets without a period to achieve it.
  • Fast withdrawal processing.


Cons:

  • Short operating period for the company (started in 2021).
  • No positions are to be held during the weekend.
  • 5% maximum drawdown, 1/10000 maximum open lots.
  • Low leverage – 10:1 forex, metals, indices, oil; 5:1 for stocks, and 2:1 for crypto.


Additional Information:

  • Founded: 2008
  • Headquarters: South, Naples, Florida
  • Employees: 1 – 10
  • Fees/charges: $250 on the cheapest package and $6,500 on the most expensive package.


2 - The Funded Trader Program

When it comes to industry-leading prop firms, The Funded Trader Program is a different beast altogether. The FTP is known for not regulating your trading style. They also afford traders the privilege of holding trades overnight, trading during news, and trading during the weekends. The prop firm offers two funding program options to its traders.

First, there is the Standard Challenge Accounts which aims to identify skilled traders. These traders are then rewarded based on their consistency amidst the two-phase evaluation period. The evaluation program account allows traders to trade with 1:200 leverage.

Then there is the Rapid Challenge Accounts, which aims to also identify serious traders and reward them for their consistency in the two-phase evaluation period. The only difference is that traders here are allowed to trade with 1:100 leverage. This, along with relaxed trading rules, makes The Funded Trading Program the best prop trading firm out there.


  • Profit Split: Up to 90%


Features:

  • Maximum Capital with standard: $600,000
  • Up to 200:1 leverage
  • News Trading Allowed
  • Weekend Trading and Overnight Trading allowed
  • Maximum Capital: $1,500,000 with scaling plan.


Pros:

  • Very relaxed trading rules.
  • Tempting benefits with their scaling plan, which allows traders to hold a maximum balance of up to $1,500,000 and a 90% profit split.
  • Supports a plethora of trading instruments like forex pairs, indices, cryptocurrencies, etc.


Cons:

  • Customer support needs work.


Additional Information:

  • Founded: May 2021
  • Headquarters: Fort Lauderdale, Florida, USA
  • Revenue: NA
  • Employee Size: 1-10
  • Fees: $315 for $50K account size.


3 - FTMO 

FTMO lets people learn and discover their forex trading talents using the FTMO Challenge and Verification course, after which they are invited to join the proprietary trading firm and manage a trading account with the company. Besides, the company hires performance coaches and does account analyses, as well as other things, to help customers once they start trading.


As a trader, you get 90% of your profits earned from trading with the firm and its tools. Customers are also trained on how to manage trading risks. Thus, it is ranked as one of the best proprietary trading firms.


  • Profit split: Up to 90%.


Features:

  • Maximum capital $400,000.
  • Swing accounts that have no restrictions on holding positions over the weekend or during microeconomic releases.
  • An increase to the account balance limit by 25% every four months. The scaling plan ensures a long-term business relationship.
  • 80:20 payout ratio. It adjusts to 90:10 when the FTMO account balance limit is increased.
  • Custom apps developed for traders. Some help them discipline, others are for journaling, while others are useful in analyzing the market.
  • Leverage trading at 1:100 makes it one of the best Forex Prop trading firms.
  • Low spreads.
  • A one-time fee makes it one of the best proprietary trading firms for beginners.
  • Payouts are once a month.


Pros:

  • Customers who include retail traders get access to MT4, MT5, and CTrader trading tools.
  • Customers are furnished with data coming from liquidity providers to simulate real market conditions for traders who aspire to make more money when trading.
  • The platform supports trading crypto as well as forex, indices, commodities, stocks, and bonds.
  • About seven payment methods are available, including Bank transfer, and Skrill.


Cons:

  • Higher cost compared to other options.
  • You can’t hold trades over the market weekend close unless you use the swing trader challenge.
  • Founded: 2014
  • Headquarters: Praha, Hlavni Mesto Praha, Czech Republic
  • Revenue: $14 million
  • Employees: 51 – 200
  • Fees/cost: From free to 155 sterling pounds.


4 - Topstep

Topstep, like many other prop trading firms, hires stocks, futures, and indices traders and provides capital, support, risk management strategies, and coaching to help them trade successfully. Traders are then rewarded using a robust profit split.


When undertaking the programs, traders will learn trading habits that work while avoiding those that do not. You must first prove that you can trade and manage risk to earn a funded account, after which you earn more funding incrementally based on your trading success.


A trader chooses an account size from three available, based on monthly pricing, buying power, profit target per step, number of contracts, loss limits, and trailing maximum drawdown. The minimum buying power or funding is $50,000 and the maximum is $150,000. The company deals with futures trading.


  • Profit split: 100% up to $5,000, then 80% afterwards.


Features:

  • Free 14-days trial.
  • Group performance coaching sessions.
  • Private trading coach with professional coaches and AI coaching. Also, leverage professional trading tools and resources to earn more.
  • Scaling plan based on trading success.
  • Keep the first $5,000 in profit and 80% afterward.
  • Support team.
  • Pay fees through PayPal, Mastercard, Visa, American Express, and Discover.
  • Supported trading platforms include NinjaTrader, TradingView, and TSTrader. Others are Bookmap, Investor/RT, Trade Navigator, Sierra Chart, Jigsaw Daytradr, MultiCharts, RITrader Pro, VOIFix, etc.


Pros:

  • According to the company’s website, it funded 8,389 accounts in 2021 for customers spread across 143 countries.
  • Leverage of up to 1:100.
  • Referral program.


Cons:

  • No bonuses from broker Equiti Capital.
  • The support service is just on weekends.


Additional Information:

  • Founded: 2010
  • Headquarters: Chicago, Illinois
  • Revenue: $14 million
  • Employees: 51 – 200
  • Fees/charges: $165/month, $325/month, and $375/month for $50,000, $100,000, and $150,000 buying power respectively.


5 - My Forex Funds

My Forex Funds provides instant funding for traders who join to trade with it. Customers can then earn not just profit splits but also bonuses. The funding programs are customized and choosable based on one’s trading experience. Traders can join the platform for a low entry cost and even earn money while gaining more trading experience.


The company specializes in trading forex, contracts for differences or CFDs, indices, and commodities such as metals.


  • Profit split: Up to 85%.


Features:

  • The high-profit split makes it suitable for pro-prop traders.
  • Prove your trading experience by passing an evaluation.
  • An accelerated arrangement is more suitable for full-time traders.
  • Trade with MetaTrader 4 and 5.
  • Tools to support trading include discord chats, blogs, insights, and 24/7 trader support.
  • Pay using crypto – BTC, ETH, BTC, and LTC.
  • A demo account is based on real market conditions.
  • The first payout is 30 days after the first trade placement. Afterward, 4% of the profit target is paid in phase 2, 112% refunded as a purchase fee refund, and 75% profit split in the first month.
  • The accelerated program provides funding for traders – get from $2,000 to $5,000 and grow your capital to a maximum of $2 million. The rapid program is for testers, and the evaluation program is also funded with between $10,000 and $200,000, although customers can grow their accounts up to $600,000.
  • Assured funding varies based on the target.
  • Leverage of up to 100 times depending on the plan chosen.
  • Get paid 50% of your account profits weekly for accounts older than 5 days. Get paid through PayPal, Bank, TransferWise, or via crypto.


Pros:

  • The account offers cover for beginner, intermediate, and pro traders.
  • Affordable evaluation costs – 25% cheaper than FTMO for the same capital level.
  • High-profit splits, instant funding, low-profit targets–8% on the first stage and 5% to proceed to a funded account.
  • 40,000 trades in 120 countries.


Cons:

  • Slow customer service.
  • Drawdown is based on equity, not account balance.


Additional Information:

  • Founded: 2020
  • Headquarters: Toronto, Ontario, Canada.
  • Fees/cost: $499 to $2,450 one-time registration fees for between $2,000 and $50,000 trading account targets.


Like what you read? Check out the rest of our content!