Lux Trading Firm imposes tough risk management measures. The maximum relative drawdown is 4% for the Evaluation and Advanced stages of the Lux programs. Additionally, the stop-loss has to be within the 4% drawdown limit and must not exceed the maximum allowance of risk capital. While there is no time limit, traders do have to hit a minimum number of active trading days (29 for evaluation and advanced accounts and 49 for professional accounts). There is an exception for swing traders. Lux does have a reasonable scaling plan: once funded, every time the trader hits a 10% profit target their account will double in size (until the cap of $2.5 million).
There is another aspect of Lux Trading Firm that, while not being a flaw per se, is nonetheless slightly irksome. The account sizes, profit targets, and promised funding are all stated in US dollars, while the prices for each program are given in British pounds. There will no doubt be a reasonable explanation for this, most likely related to the fact that Lux Trading Firm is headquartered in London, but the inconsistency does add a mental stumbling block to tallying up outgoings and potential incomings through the evaluation.
As you can see, Lux Trading Firm is a decent, midweight prop firm. Their funding neither dazzles nor do their rules inhibit. In resumen they could be a sensible choice for a beginner with a reputation for consistent risk management, as the approachable nature of this firm would suit more novice traders. With the above in mind, here is what we would suggest as an alternative to Lux Trading Firm: a propriety trading firm which fills in the gaps above. Ideally you want to keep the good and add the missing features.
Founded in Dubai in late 2022 by a group of traders and investment managers, FunderPro was born out of the need to provide an opportunity for traders to be judged on their merit without pressure or unnecessary rules. FunderPro traders can trade in their own time, for as long as they want or need, there are no deadlines looming down nor petty restrictions to trip over.
FTMO is the latest in a burgeoning series of scouting programs. Propriety trading firms or “prop firms” put traders to the test (for a fee) through evaluations and challenges. The lucky few who pass are then funded with capital, and successful trades are split down a percentage with the broker. As scouting firms go, FTMO is an excellent all-rounder. Alongside a decent 80% payout for successful traders, FTMO equips users with webinars, workshops, and coaching.
Founded in 2012, TopstepForex has become one of the biggest proprietary trading sites online. Topstep FX is based in the USA, but it is available for everyone to use worldwide. Traders are invited to join their "forex funded trader program," which gives them the chance to use Topstep FX's money (and gain a healthy cut of the profits), without risking their capital.