The first step in choosing the best prop trading firms, especially as a beginner, is making sure you do your research well. You don’t want to end up with a scam! A brilliant go-to resource is right here!
So, before signing up with any prop trading firm, make sure they are regulated by the CFTC, CySEC, or NFA (for US traders). This proves they are legitimate and not trying to take advantage of inexperienced traders. Remember, anything that is not regulated is dodgy. If it is too good to be true then chances are it probably is right?
Some other questions worth asking are: Are there any non-disclosure agreements? Are there any requirements for joining, such as funding an account? Before signing up for any trading, ensure you read the fine print before putting down your money. T&C’s have “fine print” for a reason.
Tight spreads, substantial funding, and a proven track record of success: are the hallmarks of a great prop trading firm. Prop firms will give you the support you need to succeed. We have compiled a list of the best prop trading firms for beginners in 2022. Each review is based on criteria that we have used to assess the benefits and the risks associated with each firm.
Here are the 5 Best prop trading firms for beginners in 2022:
MyForexFunds have only recently stepped into the prop firm industry. Since 2020 they have been funding traders with the options of instant funding, or most commonly seen, evaluation and challenge models. However, just because they’re only 2 years old at this moment, it does not mean they’re being left behind! MFF have been creating waves in the funding industry, with a funding of up to $2,000,000 and a profit split of 85%.
With funding up to $50,000 funded instantly with no challenges, many traders are climbing aboard to join this prop firm. However, there is something I don’t like about MyForexFunds. – Their customer support response time, and their dradown limits.
My concern is that they offer No Trading Restrictions on their models, and this may cause a trader to absolutely obliterate their account/s. Think about it. – A $2,000 funded account (Accelerated Model) with a max drawdown of “5% of starting account balance” – see what they did there? For those of us that don’t simply calculate these figures automatically, that is a drawdown of $100. How on earth do you trade with a drawdown of $100? – Haha! Going back to the No Trading Restrictions rules… you are able to open high lot-sized trades with high leverage. You and I both know how volatile the markets are. One word from my main man Boris J and say goodbye to your trade that has a 5 pip stoploss – because you simply can’t trade enjoyably and stress-free with such a puny drawdown. Lol
If you would like to join MyForexFunds, then click here.
BluFX can fund your account instantly, with no performance challenge. BluFX has the great idea of offering two different account sizes, a $25,000 and $50,000 account with varying levels of service and benefits. Your deposit will be available in your account within hours, yes hours, of submitting your application. They also just released a 10-year anniversary package which allows you to trade an instant funded account $20,000 for a one-time fee! Check our article on it here.
Unlike other prop trading firms that have you trade with their money and lock up your profits, BluFX will give you an instant 50% profit split so you can take as much or as little of the profits as you like. That’s right! If you want to keep all the profits for yourself, that’s fine too! At BluFX, it’s all about choice.
BluFX believes that 5% of your total capital each month is a reasonable target for maximizing your growth potential through trading. This allows them to achieve the target ROI on every trade while giving you a healthy amount of profit each month.
BluFX prop trading firm combines a prop firm’s typical low pricing structure with instant funding. They offer an algorithmic trading platform with no commissions or slippage and have a maximum drawdown of 10% before they shut down your positions. The company offers its clients an opportunity to trade on more than 40 assets.
BluFX use an STP broker, so spreads are variable and determined by volume and liquidity. If you are looking to join a prop firm that provides you with instant funding, has a large interactive community, and pays out on time, then look no further. BluFX has got you. Click here to join!
The 5ers prop trading firm is binary options and forex firm based in Israel but has offices in the United Kingdom. The 5ers platform is known for its professional design and state-of-the-art features. It is also one of the few firms with an official mobile app for both Android and iOS devices. The 5ers is regulated by CySEC, which means that it is one of the most trusted binary trading platforms.
The 5ers platform provides access to the most powerful tools for Forex trading, including Metatrader 4, which is used by all professional traders and has an estimated 80% of currency trades made across the world. The benefits offered by this firm include a 50/50 profit split and up to 1:3 leveraged trading. The minimum amount to open an account is only $250, so you can start trading immediately with a small investment. There are no limits on your trading activity, so you can continually increase your profits as you get more experience.
The 5ers prop trading firm has been designed with aggressive growth potential in mind. As a high-performance, full-service trading platform, their state-of-the-art tools, and support services will enable you to realize your full potential as a trader. There are no restrictions on what tools, indicators, or EA you can use to place your trades with this prop trading platform. The account manager will help you set up your trading environment to trade with ease and confidence. They also have a very active blog where they discuss the ins and outs of different markets, so you’ll better understand how each market works.
Interested in signing up with The5%ers? Click here.
City Traders Imperium
City Traders Imperium is a prop trading firm that offers a 50/50 profit split. With 1:100 leverage, you can start with low capital and earn good returns.
City Traders Imperium has been in the business for more than ten years. It has developed a proprietary platform and provides an excellent education to traders. The firm uses the same platform to trade on other markets such as forex, stocks, etc. With its 1:100 leverage, it offers one of the highest leverage in the industry.
The firm accepts manual and automated traders, including EAs and hedging strategies. What’s even more interesting is that it agrees to hold overnight and weekends positions as well as news trades.
The firm also offers long-term trading opportunities for those who want to earn more than just short-term profits through its Long Term Trader Program (LTT). On City Traders Imperium, new traders can make up to $1 million per year or more depending on their trading capital and level of risk appetite.
The trading platform is user-friendly and offers a wide range of trading instruments. Even beginners can easily handle it, as it has an intuitive design and is easy to use. Moreover, it provides top-notch education for its clients. These factors make it an excellent choice for newbie forex traders looking to get started in this business.
Keep an eye out for our review coming soon!
TopStep prop trading firm is a CFTC-regulated, Chicago-based firm with a unique focus on high-frequency trading and event-driven strategies. Unlike many competitors, it allows clients to hold positions overnight and on weekends, making this an excellent option for traders who want to take advantage of news event trades.
The company also stands out from the crowd because it offers some of the highest leverage in the business—1:100—making it possible to control much larger positions than you’d expect, given the minimum $50,000 account size.
TopStep is one of the few firms that allow clients to short stocks, ETFs, and options, making it an excellent choice for those who want to use leverage in both directions.
Their minimum deposit is also low so that you don’t have to sink your entire bankroll into this if you don’t want to. The rules are simple, and they’ve been around for a while, which is a good sign. They’re not some fly-by-night operation that’s going to run off with your money.
TopstepFX has a pretty good reputation among the trading community, and it’s a good place for newer traders to start their trading careers.
TopstepFX also provides some exciting news trading opportunities, allowing you to trade on breaking news alerts from Reuters or Bloomberg, as well as being able to hold positions overnight or during the weekend.
Keep an eye out for our review coming soon!
That is it for this article, these are, based on my opinion and research, the 5 best prop firms for 2022.
What are your top prop firms at the moment? Let us know in the comments below!