TopTier prides itself on a trader-facing funding scheme, which it claims, “empowers traders worldwide.” While it is true the firm has a presence in 108 countries around the globe and its company footprint is growing rapidly, this proprietary firm may not be for everyone. While TopTier refers traders to its “Realistic Profit Targets” the Challenge rules are stringent and not everyone will be able to meet the 10% profit target in the time limit of 40 days.
Many traders will find themselves effortlessly navigating their accounts within the TopTier Challenge parameters – but those who prefer a freer, “anything goes” approach may find themselves limited and frustrated by the evaluation criteria. That said, most prop firms will require that traders meet similar targets; part of the reason for these evaluations is to assess if traders can reliably trade in a demo account before they are trusted with company funds.
For the category of traders who find time limitations add negative pressure to their performance, they might want to find an alternative prop firm with longer periods or no deadlines altogether. Moreover, while 90% of profits from a $600,000 account is certainly an exciting prospect, many prop firms are offering larger scaling plans with up to millions in funding and more ambitious traders may want to seek elsewhere.
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, Topstep 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.