Prop Firms for Future traders.

[Coin_info]

The challenge for most traders who have become sure of their strategy is that they lack the capital to invest into trading to actually make money from it. For forex traders, the information about prop firms available to them has always been there, but for traders who are more interested in trading futures, some of them lack the information concerning prop firms available to them. I asked someone about prop firms for futures and they told me there was none, I knew that at this age, asking someone for information can be the quickest way to be misinformed, since there is the internet where you can conduct your research.

So, in this episode, I will be sharing the result of my research as information to futures traders who are unaware of Prop Firm availability to them.

1

Topstep

Up to 90% payout

Website - https://www.topstep.com/

NOT ALL COUNTRIES ARE ELIGIBLE,
check requirements here.


2

Uprofit

Up to 80% payout

Website - https://uprofit.com/

It will be important to read their terms and conditions.


3

Apex Trader Funding

Up to 100%/90% payout

Website - apextraderfunding.com

NOT ALL COUNTRIES ARE ELIGIBLE AS WELL,
Check requirements here.


4

Earn2Trade

Up to 80% in payout.

Website -  earn2trade.com

NOT ALL COUNTRIES ARE ELIGIBLE AS WELL, Check requirement here.

These can certainly not be all, If you know any others with better eligibility requirements, it will be good to add to this.

[Mrbluntzy]

Have you tried the services of these platforms ourself? For the forex prop firms you are talking about, it's just very few of them that  are reputable and can actually pay a trader after passing the trading requirements. Based on the information I got from some traders, those prop platform will give you a very strict and challenging rules that literally only few trades can be able to abide by it till they complete the task. Do you also know that the prop firm accounts are not completely for free? Instead of paying for a prop firm account, why can't the trader just trade with any small capital they have, it's better to start small and grow big.

[logfiles]

The challenge for most traders who have become sure of their strategy is that they lack the capital to invest into trading to actually make money from it.

That's the whole point, you can't trade using money you don't have, or you can not afford. No money means no trading. I personally don't like the idea of prop firms and it's a recipe for disaster. I think that's why they are not so popular after all.

since there is the internet where you can conduct your research.

So, in this episode, I will be sharing the result of my research as information to futures traders who are unaware of Prop Firm availability to them.

Have you personally tested out those platforms, or you just shared what you read on the internet?
Be careful not to recommend scam platforms to members.

[Ndabagi01]

Have you tried the services of these platforms ourself? For the forex prop firms you are talking about, it's just very few of them that  are reputable and can actually pay a trader after passing the trading requirements. Based on the information I got from some traders, those prop platform will give you a very strict and challenging rules that literally only few trades can be able to abide by it till they complete the task. Do you also know that the prop firm accounts are not completely for free? Instead of paying for a prop firm account, why can't the trader just trade with any small capital they have, it's better to start small and grow big.

This is better but most traders who can’t afford to leverage more in a trade will always settle to buy prop firm to help them trade larger capital and enter bigger trades. One thing about this prop firms I like is that their rules always abide by risk management which is necessary for every trade to follow in order to have a long term consistent rule which allows them to have longer time to take trades and try out different trades with their strategies.

I have heard a lot about prop firms and how they cheat people and not allow them to withdraw their money even if they meet all conditions set by the prop firm. I also heard that some of them will deliberately come up with excuses not to pay up which makes them a risky place to depend on for trading. Although there are still good and reputable prop firms out there, so make your research if you want to use one for trading.

[Odusko]

Leverage trading is somewhat high risk and at that strategy that works is almost none existent, and for sure it definitely doesn't exist and that is the reason you see that prop firm is so much unpopular and no one consider it as a good approach to leverage trading, since it becomes 2x risk level for the trader that buy into that strategy, if the trade goes against them in the end, the best approach is not to get a lot of money reserve to service your portfolio, but to have the ability to lower your risks and make more profits more that losses regardless of how low the profits may be.

[Zaguru12]

Have you tried the services of these platforms ourself? For the forex prop firms you are talking about, it's just very few of them that  are reputable and can actually pay a trader after passing the trading requirements. Based on the information I got from some traders, those prop platform will give you a very strict and challenging rules that literally only few trades can be able to abide by it till they complete the task. Do you also know that the prop firm accounts are not completely for free? Instead of paying for a prop firm account, why can't the trader just trade with any small capital they have, it's better to start small and grow big.

One thing about this Prop firms is that most of them are not legit any more. A very good example of that will be the bounty we have on cryptocurrency before it was profitable but right now it is definitely not just like prop firms. If I need to buy them yes I am not against it as that will actually make the trader to be serious then why do I have to be cheated after passing the test. Most of this prop firms are worse than casino houses because they collect money from this traders and still earn from their winning trades and then dump them. If 100 people pay for a prop firm today only few people say less than 10 will get to the final test and get their money.

For me exchanges should rather just over vouchers like you can use those vouchers to trade, say $100 voucher and when you use this money to trade,  the profit from your trade should be given to the trader and not all this long period of prop firm. Exchanges can actually implement their own rules before given vouchers

[nelson4lov]

One thing about this Prop firms is that most of them are not legit any more.

~Snipped

Oh, they're legit for only a period of time because they're ran as ponzi schemes under the hood lol.

So basically, the primary source of revenue for these projects is when people buy accounts, that's how they get money to pay users so they're never happy to get profitable users in their books because profitable traders means losses.

This blog post by Breakout prop explains it: https://www.breakoutprop.com/article/a-book-execution-breakout-nfa/

(disclaimer: I am not affiliated with breakout prop and haven't used it before even though I plan to use sometime in the near future)

Everyone has seen that prop firm is a good business to make money off because the reality is that over 98% of all traders are not profitable.

[Mpamaegbu]

Have you tried the services of these platforms ourself? For the forex prop firms you are talking about, it's just very few of them that  are reputable and can actually pay a trader after passing the trading requirements. Based on the information I got from some traders, those prop platform will give you a very strict and challenging rules that literally only few trades can be able to abide by it till they complete the task.

It's for the reason of strictness and compliance to trading conditions that makes me not like prop firms. I rather trade my $20 and struggle to grow it at my own pace than get a prop firm of $2k with it and be subjected to, "Do this but Don't do that." Most of these firms are fraud waiting to happen after collecting the little you've. I know of someone who after passing his account discovered the same account was assigned to someone else. He lost the whole thing and was never reassigned.

Do you also know that the prop firm accounts are not completely for free? Instead of paying for a prop firm account, why can't the trader just trade with any small capital they have, it's better to start small and grow big.

Exactly what I advise people around me wanting to get a prop firm account.

[Mrbluntzy]

Have you tried the services of these platforms ourself? For the forex prop firms you are talking about, it's just very few of them that  are reputable and can actually pay a trader after passing the trading requirements. Based on the information I got from some traders, those prop platform will give you a very strict and challenging rules that literally only few trades can be able to abide by it till they complete the task. Do you also know that the prop firm accounts are not completely for free? Instead of paying for a prop firm account, why can't the trader just trade with any small capital they have, it's better to start small and grow big.

One thing about this Prop firms is that most of them are not legit any more. A very good example of that will be the bounty we have on cryptocurrency before it was profitable but right now it is definitely not just like prop firms. If I need to buy them yes I am not against it as that will actually make the trader to be serious then why do I have to be cheated after passing the test. Most of this prop firms are worse than casino houses because they collect money from this traders and still earn from their winning trades and then dump them. If 100 people pay for a prop firm today only few people say less than 10 will get to the final test and get their money.

For me exchanges should rather just over vouchers like you can use those vouchers to trade, say $100 voucher and when you use this money to trade,  the profit from your trade should be given to the trader and not all this long period of prop firm. Exchanges can actually implement their own rules before given vouchers

And like you said which I will quote, "Most of this prop firms are worse than casino houses because they collect money from this traders and still earn from their winning trades and then dump them. If 100 people pay for a prop firm today only few people say less than 10 will get to the final test and get their money."  That was why In my comment before, I said that instead of any trader to buy or pay for a prop firm accounts, let them utilize that small capital they have for their trade, else they will be fishing in a sea without having a kill, prop firms are the wide sea where it's very difficult to pass all the requirement.

The voucher you spoke about, I think it's a good suggestion, since some exchange already implemented the idea but they only give free voucher to newly registered accounts, if they can give it to everyone seeking to trade feature but with some extended rules, it will be better than those prop firm.

[goldkingcoiner]

Prop firms that offer challenges or entry qualifications for a fee are basically scams.

They make their money by demanding users to pass a challenge for which the user must pay a entry fee. And not only once but sometimes multiple times.

The problem here is that no trader is always 100% on a profit streak. Sometimes they make short-term losses, which they can later make up for. But if you fail one of the challenges, even once, then you are out and have to pay a fee to take the "challenge" again. It is basically gambling. You are betting on whether or not you will make a short term loss, even if in the long term you are a good trader who makes a profit.

A real prop firm hires traders, and does not demand they pay some entry fee for some challenge.

[CalafioriRicardo]

Prop firms that offer challenges or entry qualifications for a fee are basically scams.

They make their money by demanding users to pass a challenge for which the user must pay a entry fee. And not only once but sometimes multiple times.

The problem here is that no trader is always 100% on a profit streak. Sometimes they make short-term losses, which they can later make up for. But if you fail one of the challenges, even once, then you are out and have to pay a fee to take the "challenge" again. It is basically gambling. You are betting on whether or not you will make a short term loss, even if in the long term you are a good trader who makes a profit.

A real prop firm hires traders, and does not demand they pay some entry fee for some challenge.

With all due respect, that is not true.

No prop firm will "hire" you without insight into your previous successful trading and proof that you are a successful trader. Why would they?

Of course, no trader is 100% successful all the time, if a person like that existed, they probably wouldn’t be using prop firms but would own a hedge fund, and billionaires would be competing to pay them more. This isn’t the movie Limitless, after all (if you know what I mean).

Prop firms are not scams, at least not the ones that have been around for a long time and have a reputation as excellent firms, registered in countries with strict regulations (we’re not talking about offshore scam firms that operate as Ponzi schemes, like some that were part of the Forex prop space). I don’t want to advertise anyone, but the ones I can personally vouch for are FTMO and E8.

I’ve been using both for many years, they offer very favorable conditions, 24/7 support, and most importantly (100%) - both pay out. If you don’t have some kind of edge in the market, if your trading strategy isn’t profitable over a sample of, say, 1,000–2,000 trades, and if you don’t have very solid risk management, then of course paying for and attempting prop firm challenges is a terrible decision, because in 99% of cases, you’ll lose money.

There was a statistic, either from FTMO or the ex. MFF, showing that only 10% of traders pass the evaluation process (which has 2 stages: 8–10% profit on the first, and 5% on the second), and only 2% make it to their first payout. Which is crazy if you ask me, but that is not the prop firms fault or showing that they are a scam, it is the traders fault.

If you know what you're doing in the market, or at least believe you do, I don’t see how you could be negative long-term in the prop firm space. After all, you have a 10% max total loss limit on the account and a 5% daily loss limit. Risking more than 5% daily, or even 1% per trade, is madness and 1000% gambling.

Ultimately, prop firms are meant to help you build up your bankroll over time. You get access to more capital, which means bigger payouts, and in turn, you can use that to fund your personal trading account.

FTMO even has a program where, if you can prove you're consistently profitable over a period longer than 8–9 months, and if you haven’t blown your challenge account, you can get an offer to join their trading company and become a professional full-time trader.

[goldkingcoiner]

Prop firms that offer challenges or entry qualifications for a fee are basically scams.

They make their money by demanding users to pass a challenge for which the user must pay a entry fee. And not only once but sometimes multiple times.

The problem here is that no trader is always 100% on a profit streak. Sometimes they make short-term losses, which they can later make up for. But if you fail one of the challenges, even once, then you are out and have to pay a fee to take the "challenge" again. It is basically gambling. You are betting on whether or not you will make a short term loss, even if in the long term you are a good trader who makes a profit.

A real prop firm hires traders, and does not demand they pay some entry fee for some challenge.

With all due respect, that is not true.

No prop firm will "hire" you without insight into your previous successful trading and proof that you are a successful trader. Why would they?

Of course, no trader is 100% successful all the time, if a person like that existed, they probably wouldn’t be using prop firms but would own a hedge fund, and billionaires would be competing to pay them more. This isn’t the movie Limitless, after all (if you know what I mean).

Prop firms are not scams, at least not the ones that have been around for a long time and have a reputation as excellent firms, registered in countries with strict regulations (we’re not talking about offshore scam firms that operate as Ponzi schemes, like some that were part of the Forex prop space). I don’t want to advertise anyone, but the ones I can personally vouch for are FTMO and E8.

I’ve been using both for many years, they offer very favorable conditions, 24/7 support, and most importantly (100%) - both pay out. If you don’t have some kind of edge in the market, if your trading strategy isn’t profitable over a sample of, say, 1,000–2,000 trades, and if you don’t have very solid risk management, then of course paying for and attempting prop firm challenges is a terrible decision, because in 99% of cases, you’ll lose money.

There was a statistic, either from FTMO or the ex. MFF, showing that only 10% of traders pass the evaluation process (which has 2 stages: 8–10% profit on the first, and 5% on the second), and only 2% make it to their first payout. Which is crazy if you ask me, but that is not the prop firms fault or showing that they are a scam, it is the traders fault.

If you know what you're doing in the market, or at least believe you do, I don’t see how you could be negative long-term in the prop firm space. After all, you have a 10% max total loss limit on the account and a 5% daily loss limit. Risking more than 5% daily, or even 1% per trade, is madness and 1000% gambling.

Ultimately, prop firms are meant to help you build up your bankroll over time. You get access to more capital, which means bigger payouts, and in turn, you can use that to fund your personal trading account.

FTMO even has a program where, if you can prove you're consistently profitable over a period longer than 8–9 months, and if you haven’t blown your challenge account, you can get an offer to join their trading company and become a professional full-time trader.

I never said that prop firms hire traders without previous proven experience. Obviously they would want to know the trader has a good track record otherwise what would be the point in hiring them? What I meant is that even good traders make mistakes and that even they would often fail these ridiculous "challenges", which challenge prop firms demand. Traditional prop firms hire based on long term trading results, not short term "challenges" for an upfront fee.

Challenge prop firms make most of their business profits from these challenge fees, not from the actual traders PnL. Which is why I said they are basically scams.

Real prop firms hire based on skill and do not demand money upfront for the trader to prove themselves with such "challenges". The term "challenge" should already serve as a red flag, as it is nothing but a marketable keyword for excitable, gullible newbie traders.

[milewilda]

Prop firms that offer challenges or entry qualifications for a fee are basically scams.

They make their money by demanding users to pass a challenge for which the user must pay an entry fee. And not only once but sometimes multiple times.

The problem here is that no trader is always 100% on a profit streak. Sometimes they make short-term losses, which they can later make up for. But if you fail one of the challenges, even once, then you are out and have to pay a fee to take the "challenge" again. It is basically gambling. You are betting on whether or not you will make a short-term loss, even if in the long term you are a good trader who makes a profit.

A real prop firm hires traders and does not demand they pay some entry fee for some challenge.

Actually ,they arent scams on which I have known some of my friends or colleagues that are prop firm trader for a while now or lets say 2-3 years already on which they've been able to find themselves that profitable with it. They are commonly dealing up with Futures in NAS100 and SP500 and some mix of XAU on which these are the sweetest spot that they deal on with. Now that we are talking about some scam thing then it isnt that directly true but only a part of. These are businesses as we do all know and the only way that they can make money is into their own terms and conditions on which I can say that it is that hell of a hard thing for you to pass on. Challenges does have Step-1 and 2 on which you would be needing up to follow a max loss for a day or even avoiding those news trading on which this could that potentially breach your account if you wont be mindful or be careful. This is where these propfirms do make money out of those newbies of traders who do lose up their money because of such violation and ended up on getting breached. I have tons of accounts and challenges that had been breached on which no matter how good you are in terms of testing out different strategies but passing up even on that Step-1 is never been that easy.

[Skjadoon]

yeah, many traders use prop firms to access larger capital with strict risk rules, allowing consistent trading. However, some firms delay or refuse withdrawals, so it's vital to research and choose reputable ones.

[CalafioriRicardo]

yeah, many traders use prop firms to access larger capital with strict risk rules, allowing consistent trading. However, some firms delay or refuse withdrawals, so it's vital to research and choose reputable ones.

That is why you go with the industry OGs, who have been in the game for a long time, have 99% of the time positive reviews. and avoid those shady UAE or some Caribbean countries based ones.

They are maybe more expensive, but you will get paid 100% as fast as possible.