Do you try trading with your own capital, or do you begin working with a more substantial trading capital? Are you willing to give up a part of your profits, if you are offered an opportunity to trade millions of dollars?

So What are the best Prop Trading Firms right now? Want to jump straight to the answer?

Top Prop Trading Firms for January 2023: 5 Names To Know

  • OspreyFX - 15% Exclusive Discount Code (SBOCOUPON)
  • FTMO - FTMO charges a one-time fee only
  • Topstep -  it takes a low percentage cut on your profits
  • Earn2Trade -  Beginners Crash Course
  • My Forex Funds - 85% profit split

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Funded Trader Program

A Funded Trader program is the best of both worlds. Whether you are a beginner in the trading industry or you are an experienced trader, the program gives you the opportunity to explore the trading world without the risk of losing your capital. There are no doubt Funded Trader programs / challenges have heaps of benefits. Many providers’ offer great services and communities of like-minded traders that can share their knowledge and skills and have you climbing the trading ladder in no time. Below, we will explain all there is to know about a Funded Trader account. We will start by going through exactly what a Funded Trader account is, how it works, the diverse types of accounts offered, how to join the program, and how to choose the best option for you.

Do you want to get funded? Keep reading to enhance your trading journey!

What is a funded trading account?

What is a funded trader account

In simplified terms, a funded trading account is a proprietary trading account that enables qualified traders to use capital provided by the Prop Trading Firm to trade while developing the firm's financial transactions. The organization offers a fully funded account to develop your trading acumen while sharing the overall profits earned.

Essentially, you will be using your skills and knowledge in trading to trade without needing the start-up capital. You will receive a set percentage of the profits on the Funded Trading account provided you meet the set criteria provided by the organization. Since you have no emotional attachments to the capital, you have the freedom to make your own rational decision to grow the funds and earn a percentage of the profit.

It benefits both the funded traders and trading brokers, but there are a few more details to cover before deciding if this is the route you want to take.

How does it work?

The Funded Trader account is designed to attract individual traders to trade using the organization’s capital. It is basically a three-step process to start off with.

Firstly, you would select the program you want to join. Most likely, you will start off on a demo account to familiarise yourself with the platform. This is essentially a realistic representation of the trading platform and market that will be used when you start trading with a live funded account. In this stage traders show off their skills and demonstrate their ability to make profits over an extended period of time. The key to passing this stage is to continually develop your skills by dedicating your time to training and speaking to more advanced traders in the community to learn some extra tips and tricks to add to your trading acumen. Familiarise yourself with different trading techniques and styles to add to your advantage.

Secondly, there is a verification stage where you will be granted another account to continually improve your skills and knowledge and earn profits while doing so. During this stage, you have the opportunity to practice your techniques and put your training into practice. See what works for you and what you would rather avoid doing. Continually build your trading portfolio and enhance your skills.

Once you have passed the first two stages, you will get access to a live account and get funded whilst receiving the benefits that go along with it. You have finally passed the initial evaluation stages; your arduous work has paid off and you now have a Funded account. You are officially a Funded Trader. This does not mean; you can now sit back and relax while the funds come rolling in. This is the most important stage since this is your opportunity to generate income for your hard-earned efforts. You have a responsibility to yourself and the third-party to reach the profit targets to earn your share of the profits. Each stage has its own set of requirements to advance to the next stage depending on the program you choose, so make sure you set a trading plan for yourself to meet the criteria’s.

A great program to have a look at is the OspreyFX Funded Account Challenge. You can find more info regarding the challenge by clicking here.

Here is an example of several types of Funded Trader accounts being offered and the requirements to advance to the next stage:

How do you get a Funded Trading account?

How do you get a Funded Trading account

Different providers, have different requirements and methods for signing up. Since we mentioned the OspreyFX Funded Account Challenge, let’s have a look at that one. As mentioned before, your first step would be to select the account size you are interested in. Bear in mind, the same amount will be given in both demo and live stages of the Funded Account. Once you have proceeded with the checkout, successfully sent the entry fee amount, and filled in the necessary details, you will receive login details to a specialised dashboard dedicated to Funded accounts. Once the login details have been received, you can log in to the platform to start trading! Easy enough, right?

Now the fun begins! You will enter Stage 1 of the challenge, the evaluation phase. Once the requirements have been met within the first month, you will continue to Stage 2 of the challenge. Traders who successfully pass the initial stages of the challenge will gain access to a Live Trading Account where you can earn 70% of the profits on a Funded Account.

Can I become a Funded Trader?

Most organizations require that traders have some knowledge in trading or has the basic skills at the very least. Most Funded Trader programs like the OspreyFX has an initial evaluation phase to determine the traders' abilities, once the targets and requirements have been met, the traders would enter a verification phase to see if the traders can continue reaching the target profits over an extended period. Those who succeed in reaching the necessary requirements and have continued to reach the profit targets are eligible for the live Funded Account.

Some organizations offer an immediate Funded Account, but traders may need to pay higher participation fees or meet a different set of requirements.

Do you think you have what it takes? Challenge yourself first with our FREE fun trading Quiz and prove you can make a profit trading while enhancing your trading capabilities!

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Choosing the best Funded Trader program for you!

Choosing the best Funded Trader program for you

The choice of which Funded Trader program can only be determined by your personal and financial goals. What do you want from the program, what skills and knowledge do you have, do you have what it takes to fulfil the necessary requirements, what is the criteria for joining the Funded Program? These are all the questions you need to ask yourself before diving into this adventure. Once you have established what your goals are, a quick internet search can be done to find the perfect program to suit your needs.

Each organization offers different programs / challenges and they each come with their own set of requirements and criteria’s. They differ according to their parameters; funding limits, minimum profit targets, position size limits, minimum trading days, leverages, maximum daily loss, maximum overall loss, benefits received, pay-out dates, etc.

The Funded Trader account is the perfect option for traders that do not have the initial start-up capital to begin trading but holds the necessary skills and/or knowledge to generate income.

Partnering up with the correct organization and joining to program that best suits your goals could be the answer to securing your financial and trading objectives. Since you will be trading with the company’s funds, the company would require a consistent trading performance and expect you to regularly meet their predetermined requirements. If you do not meet the criteria, your account will most likely be suspended. One of the benefits of the OspreyFX Challenge, is that traders can have multiple Funded Trader accounts at any given moment, therefore, should traders fail to meet the requirements on one account, they still have the option to continue on a different account.

It is also essential to determine what your trading style is and what assets or instruments you would like to trade with whether it is Crypto's, Forex, Indices, Stocks, Energies, Metals, etc, there are so many options to choose from. Once you have established your trading style you can join a program that provides the options you are interested in. At the end of the day the decision is completely yours, but before launching into the trading world be sure to do your research!

The Best Prop Trading Prop Trading Firms in 2023

4.3 / 5

Rating breakdown

Challenge difficulty
90%
4.5/5
Support
80%
4.0/5
Trading Fees
90%
4.5/5
Payout scheme
80%
4.0/5

Things we liked:

 15% Exclusive Discount Code (SBOCOUPON)
  The OspreyFX team is reliable and helpful
 highly transparent - easy track and analyze results

Things we didn't like:

 Relatively new player in the funded account offering
 An entry fee to sign up for the challenge.

3.6 / 5

Rating breakdown

Challenge difficulty
90%
4.5/5
Support
50%
2.5/5
Trading Fees
60%
3.0/5
Payout scheme
90%
4.5/5

Things we liked:

 FTMO charges a one-time fee only
 FTMO has generous conditions for its traders

Things we didn't like:

 Complaints about the platform freezing
 Complaints about lack of customer support

3.5 / 5

Rating breakdown

Challenge difficulty
90%
4.5/5
Support
40%
2.0/5
Trading Fees
70%
3.5/5
Payout scheme
80%
4.0/5

Things we liked:

  it takes a low percentage cut on your profits

Things we didn't like:

 Not one-off payment
  Challenges perceived to be too hard or pointless

3.4 / 5

Rating breakdown

Challenge difficulty
80%
4.0/5
Support
40%
2.0/5
Trading Fees
70%
3.5/5
Payout scheme
80%
4.0/5

Things we liked:

  Beginners Crash Course
 NinjaTrader trading platform
 No daily loss or contract size limits
 Overnight trades

Things we didn't like:

 Bootcamp is expensive
 Recurring fees in Gauntlet Mini
 Misleading endorsement

Rating breakdown

Challenge difficulty
50%
2.5/5
Support
60%
3.0/5
Trading Fees
70%
3.5/5
Payout scheme
60%
3.0/5

Things we liked:

 85% profit split
 Up to $2,020,000 in funding
 Entry fee refunded for passing evaluation
 Weekend trading
 Accelerated program
 1:500 leverage

Things we didn't like:

 No weekend customer support
 Excessive trading rules
 Complaints of high slippage
 Software malfunctions

2.8 / 5

Rating breakdown

Challenge difficulty
70%
3.5/5
Support
60%
3.0/5
Trading Fees
30%
1.5/5
Payout scheme
60%
3.0/5

Things we liked:

 13 types of accounts
 Leverage of up to 1:100
 +1000 financial assets on offer
 Easy withdrawals
 No recurring fees

Things we didn't like:

 Unregulated (as not a broker)
 30-day trading period
 Oppressive trading rules
 No telephone customer support

Rating breakdown

Challenge difficulty
70%
3.5/5
Support
60%
3.0/5
Trading Fees
30%
1.5/5
Payout scheme
60%
3.0/5

Things we liked:

 Highly flexible with minimal rules
 Up to 100% profit share
 Accounts double with every 10% target
 Training courses

Things we didn't like:

 Steep commission
 Hidden conditions
 Accounts terminated when you hit max loss

2.6 / 5

Rating breakdown

Challenge difficulty
60%
3.0/5
Support
50%
2.5/5
Trading Fees
70%
3.5/5
Payout scheme
30%
1.5/5

Things we liked:

 Let you trade with leverage of up to 1:30

Things we didn't like:

 5%ers Challenge fee is on the higher end of the spectrum
 There are other holes in the 5%er offer

Rating breakdown

Challenge difficulty
50%
2.5/5
Support
60%
3.0/5
Trading Fees
40%
2.0/5
Payout scheme
60%
3.0/5

Things we liked:

 No time limit
 Up to $2.5 million in funding
 Customer service
 Weekend positions
 Rapid scaling program

Things we didn't like:

 Poor UX and UI
 Strict rules
 Low leverage
 Limited withdrawal methods

2.3 / 5

Rating breakdown

Challenge difficulty
70%
3.5/5
Support
20%
1.0/5
Trading Fees
30%
1.5/5
Payout scheme
60%
3.0/5

Things we liked:

 User-friendly dashboard
 No minimum trading days
 Traders can get the first payout just a week after funding
 Free trial

Things we didn't like:

 Only two types of evaluations
 Payroll delays
 High spread

The Best Funded Trader Programs for 2023

Funded trading accounts are a great way to get started with trading or consolidate your trading endeavours, since they can offer traders enhanced access and increased opportunities, while not putting at risk any of their own capital, essentially offering them the best of both worlds. Funded trader programs can be really appropriate for beginner traders to enter the great world of trading, as well as especially suitable for more seasoned private traders to up their game and boost their profits.

If you are intrigued by the prospect of trying out funded trading, it is imperative that you consider what makes a well-funded trader program and also consider the pros of such an arrangement to make up your mind if it is best suited for you. In general, a well-funded trader program would be one that would help you get started through the provision of dedicated and high-quality education, webinars, and support. However, perhaps what is of the utmost importance to look out for is of your trading account partner to be a firm that is reputable and trustworthy and of the actual trading to be taking place on a credible and proven trading platform or platforms.

The limited, even zero, risk factor that comes with a funded trader account is perhaps the biggest benefit of such an arrangement, while with access to huge capital traders can really make their trading skills count and meet with unprecedented success and profitability. However, interested traders should be aware that funded trader programs usually come at a fee for access to the trading platform and real-time data.

With this in mind, let us take a look at the funded trader programs, which we consider to be the best available currently for interested traders to choose from:

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