When deciding which best prop firms to invest with, it can be challenging to find the best ones. Often, if you are a trader looking for a top-tier firm, there will be hundreds of them. But what sets apart the great from the not-so-great? Let’s look at critical points that make up a good prop trading firm and how to find one that fits your trading style.
What to look for in the best prop firms
When looking for a prop trading firm, it’s essential to find one that fits your needs. Here are a few things to keep in mind:
- Experience: How much experience does the firm have? The more experience a firm has, the better.
- Size: What’s the size of the firm? A bigger firm can offer more resources, but getting personalized attention might be more challenging.
- Trading Style: What’s the trading style of the firm? Do they trade stocks, options, or futures? Do they specialize in day trading or long-term investing?
- Fees: What are the fees associated with using the firm’s services? Make sure you know what you’re getting into before signing up.
- Account Minimums: What’s the least amount required to open an account with the firm? Not everyone can afford to invest a lot of money upfront.
- Trading Platform: What trading platform does the firm use? Some platforms are more user-friendly than others. Make sure you’re comfortable with the platform before signing up.
There are a lot of firms out there, and not all of them are created equal. So how do you find the best prop firm for you? Here are a few tips:
Look at their website
The best place to start your search is the companies’ websites. The website should be easy to navigate, have a good range of information and be easy to read. It should also have a clear list of what type of trading they do, who they work with, and how they can help you. Some companies will also offer free trials or introductions to their services, so it’s worth checking these out.
If you read through the profiles of each firm, you will find that some firms focus on one type of strategy while others have many methods. Some firms focus on options, while others concentrate on futures or stocks. The more focused their strategy is, the better your chance of finding a good fit for your needs.
Find best prop firm reviews online
When you’re looking for the best prop trading firms, you want to ensure you get all the information you need. How do you know if a firm is legitimate?
There’s an easy way around this: reviews! Many websites such as Prop Trader offer reviews of different types of prop firms. This can be a great way to get unbiased information about these firms—and even figure out which ones are worth your time and money!
Again, search for reviews of different prop companies on Google or Facebook and read through them. You may want to check out sites like Yelp, where people can write reviews about various services they have received from particular companies.
The top firms will likely have many satisfied customers. So, it’s in your best interest to find out what they’ve got to say about their services before making any decisions.
Check YouTube Channels
While the trading companies will not reveal their “secret sauce” on the internet, they do need to advertise to potential clients. That is why they need to create a presence there.
The best way to do this is by posting videos on YouTube that contain information about their firm, how it works and what kind of services they provide. This will help them attract new clients and generate some traffic to their website and other social media platforms.
You can find a lot of resources on the internet. But if you want to find the best prop trading firms, then you have to look at the best channels on YouTube
Don’t forget about social media!
Social media is the next big thing in the world of finance. The number of financial professionals on social media has risen over 100% in the last year alone.
In fact, according to a recent study by B2B Media, more than half of all firms say they’re using social media to find new talent and connect with customers. 66% of companies surveyed say they use social media to recruit top talent.
Social media is a great way to find the best prop trading firms. But, it’s also essential to remember that most of these firms are small and niche, so you’ll have to do some digging.
Discord Channels
We have seen an increase in Prop Firms making the transition from Facebook/Telegram to Discord, below we have compiled a list of the available Prop Firm Discord channels that we are a part of. This list will continue to expand as we find more.
MyForexFunds – Discord link (https://discord.com/invite/AgzjywB75H)
BluFX – Discord link (https://discord.gg/Ww2RRwXvFm)
BuoyTrade – Discord link (https://discord.com/invite/ZuVNcPKBZt)
Funded Trading Plus – Discord link (https://discord.com/invite/8fjYcFUXx7)
Finovative Funding – Discord link (https://discord.com/invite/vE2quMDSEq)
Funded Academy – Discord link (https://discord.com/invite/9nZCrfGUEZ)
SurgeTrader – Discord link (https://discord.gg/jpHbych53p)
The Funded Trader Program – Discord link (https://discord.com/invite/wC7wTacEqM)
ThePropTrading – Discord link (https://discord.com/invite/theproptrading)
TopTierTrader – Discord link (https://discord.com/invite/J87Q2qb7xV)
FTUK – Discord link (https://discord.com/invite/FaAckc742J)
FundedNext – Discord link (https://discord.gg/PJF2mKXEM7)
City Traders Imperium – Discord link (https://discord.com/invite/86H9wYr9vh)
TrueForexFunds – Discord link (https://discord.com/invite/48CvsQ2eG8)
Final Thoughts
There are plenty of options if you’re on the hunt for a professional prop trading firm. You’ll want to look for a great match between the firm and your preferences. You should focus on firms with a good reputation, low minimums, low execution costs, and other specifications that meet your needs. That’s why it also pays to do in-depth research on each firm you’re considering. It’s never too soon to make your first trade!
If you enjoyed this article then be sure to check out Are prop firms legit, though?
