Best Forex Prop Trading Firms for May 2024

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Discover the best forex proprietary trading firms for maximizing your trading potential to join right now:

Are you ready to take your forex trading to the next level with increased leverage and capital? With so many prop firms to choose from, it can be overwhelming to determine which one to trust. But fear not; as someone with considerable experience in the field, I am here to guide you through the process.

The forex market is booming, and prop firms are the key to unlocking your trading potential. But don’t settle for just any firm – choose the one that aligns with your goals and values.

I have done the research and analyzed various forex prop firms to bring you the most comprehensive guide available.

In this post, I’ll rank the top five forex prop firms based on various factors, including funding options, trading software, and support resources.

#1

FTMO

4.7

FTMO is the premier proprietary trading firm for forex traders. FTMO has a unique 2-step evaluation process to discover trading talent. Successful traders can remotely manage an account with a balance of up to $400,000. FTMO's educational resources, account analysis, and performance coaching provide traders with the tools and support to achieve financial independence. Join FTMO and start trading with confidence.

Challenge Difficulty:
4.3
Profit Share:
5.0
Educational Resources:
5.0
Customer Support:
5.0
Community Engagement:
4.0
Pros:
  • Well-established and trusted
  • Fast scaling plan
  • Access data from liquidity providers
  • No swing trading limits
  • 1:100 leverage
Cons:
  • Limited trading platforms
  • Challenging evaluation process
  • Slightly more expensive than alternatives
Join Now Our Review
FTMO Website Homepage

FTMO is an excellent platform for traders who want to succeed. It has custom trading apps that make trading a breeze, top-notch customer support that’s always ready to help, and valuable educational tools that help traders improve their skills.

FTMO is more than just a platform for accessing capital; it’s a complete package for traders who want to make their mark in the market.

Features

Reasons why FTMO is the best prop trading firm
Check out FTMO’s key features, making it our first choice for trading forex.

✔️ Free trial – Access a Free Trial account to experience a shortened version of the FTMO Challenge with identical trading conditions. 

✔️ Impressive profit split – Keep 80% of your profits, or earn up to 90% by progressing through the scaling plan. 

✔️Supports multiple trading styles – The FTMO Swing Account has no restrictions on holding positions over the weekend or trading during macroeconomic releases.

✔️ Fast scaling plan – Increase your account balance by 25% every four months.

✔️ Multiple supported trading platforms – MetaTrader 4, MetaTrader 5, CTrader

✔️ Custom trading apps – Improve your trading discipline, keep track of trades, or analyze the forex market with FTMO apps.

✔️ Educational tools – Sign up for the FTMO Trading Academy or meet with a performance coach to grow your trading skills.

Tradable Products

FTMO has an extensive list of tradable forex and CFD pairs.

FTMO Tradable Products

Trading Evaluation

FTMO Challenge Evaluation Process

To receive a funded account, traders must pass the FTMO Challenge, a two-step evaluation process. While the FTMO Challenge has somewhat strict requirements, this is only to ensure that traders are fully ready before getting funded. This helps support your success as a trader later on, so it’s a feature we appreciate about FTMO.

FTMO Challenge Requirements

Trading Platforms

FTMO offers three trading platforms for their traders to choose from. We wish they offered more options, but at least MetaTrader 4 and 5 are two of the most popular platforms in the industry.

FTMO Supported Trading Platforms

Pricing

The fees for trading with FTMO range from around $188-$1,311, depending on your account type. While these costs may seem hefty, you’ll be happy to know that the fees are fully refundable. After completing the FTMO Challenge, FTMO will pay you back these costs.

FTMO Challenge Pricing

The initial fee is a little higher than other options, but it’s only a one-time fee, and they empower traders with better tools.

Our Experience With FTMO

FTMO sets itself apart from other prop firms with its easy-to-use interface and superior software applications. Although they offer a unique Chat with Charts app, which allows users to join rooms and share analytics, some users may miss having a Discord channel. Moving to Discord could provide an even better user experience for those who prefer this platform.

FTMO Chat with Charts Community

Our Honest Opinion on FTMO

If you’re an undercapitalized forex trader looking to earn more while minimizing your risk, you’ll want to check out FTMO. With a proven track record, top-notch coaching, and a thriving community, FTMO is the prop firm to beat. Many traders trust FTMO as one of the industry’s oldest and most reputable options. Join the ranks of successful traders today with FTMO by your side.

Get started with FTMO today:


#2

City Traders Imperium

4.5
City Traders Imperium has secured the second spot on our list of the best forex prop trading firms. They offer unparalleled opportunities for growth and provide various programs that cater to all kinds of traders. Whether you're a beginner or a seasoned trader, they've got you covered. Join the ranks of successful traders with City Traders Imperium.
Challenge Difficulty:
3.5
Profit Share:
4.3
Educational Resources:
5.0
Customer Support:
4.0
Community Engagement:
4.5
Pros:
  • Scaling profit shares up to 90%
  • Instant funding available
  • Good to educational resources
  • Excellent community
  • Free trials
Cons:
  • Slightly higher fees
  • No crypto trading
  • No 24/7 customer support
Join Now Our Review
City Traders Imperium Website Screenshot

Features

Imagine having access to a funded forex account with up to $4,000,000! That’s one of the fantastic benefits CTI offers. As a trader, you can use the comprehensive educational tools available to progress through the scaling plan and increase your earning potential. Take advantage of this incredible opportunity to achieve financial success.

Let’s look at some of CTI’s key features:

✔️Free trial – Sign up for a Demo Free Trial Account to check out CTI’s spreads, commissions, and execution speeds.

✔️Scaling profit split –Receive 50-80% of your profits, but earn as much as 100% by being a profitable trader.

✔️Multiple account options  – Choose between a Standard, Classic, Challenge, or Direct Account depending on your trading style. 

✔️Access to educational content  – Learn forex trading skills using CTI courses, including Bank Level Trading, STT Strategy, Corrective Strategy, Forex for Beginners, and a Build Your Edge psychology course. 

✔️Fantastic community – Share forex trading tips with over 8,000 traders in the CTI Discord channel.  

Tradable Products

City Traders Imperium allows you to trade all forex majors and minors, plus other assets, including commodities and major index stocks.

City Traders Imperium Tradable Forex Products

Trading Evaluation

With CTI, you can pick from various trading challenges that come with different rules, depending on your preferences. But here’s the thing: skilled traders who want quick access to capital and don’t mind taking on more risks can skip the evaluation process altogether and get funded instantly. That means you can start trading without waiting and seize opportunities as they arise.

City Traders Imperium Two Step Evaluation

Trading Platforms

City Traders Imperium uses the MetaTrader 5 trading platform. While we wish CTI offered more options, MT5 is popular for forex traders.

MetaTrader 5 Desktop

Pricing

The fees for trading with CTI vary depending on your program and account size; the lowest option starts at $133, while the highest is around $4,400.

City Traders Imperium Standard Pricing

Our Experience with CTI

We had a rewarding experience trading with CTI; while the range of options may feel overwhelming initially, the CTI programs ensure a place for every trader. We also love the active Discord, which has over 8,000 members and contributes to the community feeling.

City Traders Imperium Discord Welcome Screen

We think City Traders Imperium is one of the top forex prop firms on the market. The firm offers a range of educational resources, and its scaling growth plans make it an attractive choice for traders of all styles, providing them with the tools necessary to succeed in forex trading.


#3

SurgeTrader

4.3
SurgeTrader is one of the top forex prop firms available. You can start trading quickly because there are no minimum trading days, and the rules are straightforward and easy to follow. Plus, you'll have access to a variety of assets in addition to forex.
Challenge Difficulty:
4.5
Profit Share:
4.0
Educational Resources:
4.0
Customer Support:
4.5
Community Engagement:
4.5
Pros:
  • 90% profit split
  • Free 30-day education membership
  • No recurring fees
  • No minimum trading days
  • Multiple tradable assets
Cons:
  • Limited profit splits without paying extra
  • Restrictive maximum loss limit
  • Few education tools after 30 days
Join Now Our Review
SurgeTrader Website Homepage
Features
Fast customer service, easy payouts, and flexible trading are only some of the benefits of trading with SurgeTrader. 
SurgeTrader Benefits

Check out SurgeTrader’s key features below!

✔️Decent profit split – Receive 75% of your profits or pay to receive a whopping 90%.

✔️30-Day Membership with BKForex  – Develop your trading skills with expert traders.  

✔️One-time payments – No recurring or hidden fees.

✔️No minimum trading days – Receive funding as soon as you pass the evaluation.

✔️Simple, straightforward rules – Follow three simple rules to pass the trading challenge. 
✔️Vibrant community – Connect with over 6,000 prop traders in the active Discord channel.

Tradable Products

SurgeTraders allows you to trade 46 forex assets, plus any other asset available on Eightcap.

SurgeTrader Tradable Forex Products

Trading Evaluation

The SurgeTrader Trading Audition is a one-step evaluation process where forex traders can prove their skills. Traders engage in simulated market trading and receive funding upon successfully completing the trading objectives.

SurgeTrader Trading Audition

Trading Platforms

SurgeTrader supports the MetaTrader 4 and 5 trading platforms.

City Traders Imperium Metatrader Platforms

Pricing

SurgeTrader offers pricing comparable to its competitors; costs range from $250-6,500 depending on your account. The only downside is that SurgeTrader lacks a $10,000 challenge, making it costly for new traders seeking proprietary trading firms with lower capital.

SurgeTrader Audition Pricing

Our Experience With SurgeTrader

SurgeTrader stands out as one of the top forex proprietary trading firms for a reason – its outstanding reputation among fellow traders and extensive selection of assets to trade surpasses other prop trading firms.

On top of that, SurgeTrader boasts a vibrant Discord community with over 5,000 members, making it the go-to destination for traders who want to engage and learn from like-minded individuals.

Our Honest Take

If you’re looking to get a funded trading account as a forex trader, SurgeTrader is an excellent solution. SurgeTrader offers a simple one-step evaluation process and zero minimum trading days, making it ideal for new and experienced traders alike. Why not give SurgeTrader a shot today and see how it can help you achieve success in forex trading?


#4

My Forex Funds

4.2
We’ve ranked My Forex Funds as one of the top forex prop firms, and for good reason. Specializing in forex trading, this prop trading firm offers unparalleled customer support and a vibrant community for its traders.
Challenge Difficulty:
4.5
Profit Share:
4.0
Educational Resources:
2.5
Customer Support:
4.8
Community Engagement:
5.0
Pros:
  • Rewards program for successful traders
  • Up to 90% profit splits
  • 24/7 support team
  • Instant funding option
  • Active community
Cons:
  • Lack of educational resources
  • Short track record as a prop firm
  • Confusing equity drawdowns
Join Now Our Review
My Forex Funds Website Screenshot

Features

My Forex Funds has more to offer traders than just a funded account; it also provides fast payouts, opportunities for better profits, and rewards for their most skilled traders.

Let’s break down MFF’s key features below!

✔️Wide range of profit splits – Receive 12%, 50%, or 75-90% of your profits depending on your program and membership status. 

✔️VIP Reward Program  – Get an invite into the rewards program by being a profitable trader. Enjoy a 90% profit split, on-demand withdrawals, and other surprise benefits.  

✔️24/7 customer support – Ask for help from the customer support team anytime, day or night.
✔️Excellent community – Join the My Forex Funds Discord channel and connect with like-minded forex traders.

Tradable Products

My Forex Funds has a vast array of tradable forex products.

Symbol NameSymbol DescriptionContract SizeDigitLeverage1 Pip PLQuote CCY
AUDCADAustralian Dollar/Canadian Dollar10000051:10010CAD
AUDCHFAustralian Dollar/Swiss Franc10000051:10010CHF
AUDJPYAustralian Dollar/Japanese Yen10000031:10010JPY
AUDNZDAustralian Dollar/New Zealand Dollar10000051:10010NZD
AUDUSDAustralian Dollar/US Dollar10000051:10010USD
BTCUSDBitcoin/US Dollar131:51USD
CADCHFAustralian Dollar/US Dollar10000051:10010CHF
CADJPYCanadian Dollar/Japanese Yen10000031:10010JPY
CHFJPYSwiss Franc/Japanese Yen10000031:10010JPY
DSHUSDDash/US Dollar131:51USD
ETHUSDEthereum/US Dollar131:51USD
EURAUDEuro/Australian Dollar10000051:10010AUD
EURCADEuro/Canadian Dollar10000051:10010CAD
EURCHFEuro/Swiss Franc10000051:10010CHF
EURCZKEuro/Czech Koruna10000051:10010CZK
EURGBPEuro/Great Britain Pound10000051:10010GBP
EURJPYEuro/Japanese Yen10000031:10010JPY
EURNOKEuro/Norwegian Krone10000051:10010NOK
EURNZDEuro/New Zealand Dollar10000051:10010NZD
EURSEKEuro/Swedish Krona10000051:10010SEK
EURTRYEuro/Turkish Lira10000051:10010TRY
EURUSDEuro/US Dollar10000051:10010USD
GBPAUDGreat Britan Pound/Australian Dollar10000051:10010AUD
GBPCADGreat Britain Pound/Canadian Dollar10000051:10010CAD
GBPCHFGreat Britain Pound/Swiss Franc10000051:10010CHF
GBPJPYGreat Britain Pound/Japanese Yen10000031:10010JPY
GBPNOKGreat Britain Pound/Norwegian Krone10000051:10010NOK
GBPNZDGreat Britain Pound/New Zealand Dollar10000051:10010NZD
GBPTRYGreat Britain Pound/Turkish Lira10000051:10010TRY
GBPUSDGreat Britain Pound/US Dollar10000051:10010USD
LTCUSDLitecoin/US dollar131:51USD
NZDCADNew Zealand Dollar/Canadian Dollar10000051:10010CAD
NZDCHFNew Zealand Dollar/Swiss Franc10000051:10010CHF
NZDJPYNew Zealand Dollar/Japanese Yen10000031:10010JPY
NZDUSDNew Zealand Dollar/US Dollar10000051:10010USD
USDCADUS Dollar/Canadian Dollar10000051:10010CAD
USDCHFUS Dollar/Swiss Franc10000051:10010CHF
USDCZKUS Dollar/Czech Koruna10000051:10010CZK
USDDKKUS Dollar/Danish Krone10000051:10010DKK
USDJPYUS Dollar/Japanese Yen10000031:10010JPY
USDMXNUS Dollar/Mexican Peso10000051:10010MXN
USDNOKUS Dollar/Norwegian Krone10000051:10010NOK
USDSEKUS Dollar/Swedish Krona10000051:10010SEK
USDTRYUS Dollar/Turkish Lira10000051:10010TRY
USDZARUS Dollar/South Africa Rand10000051:10010ZAR

Trading Evaluation

Traders can access a Rapid Account or an Evaluation Account; with the Rapid Program, you’ll be trading on a demo account while earning real profits. With the Evaluation Account, you’ll have to meet trading objectives during a two-step process to get funded. However, traders can skip the evaluation process altogether and get funded instantly with the Accelerated Program.

My Forex Funds Trader Evaluation Programs

Trading Platforms

My Forex Funds supports MetaTrader 4 and MetaTrader 5.

MetaTrader 4 & MetaTrader 5 Desktop Screens

Pricing

Fees for trading with MFF range from $49-4,900, depending on your account. With the Rapid or Evaluation Program, your fees are fully refundable. You’ll recoup those costs after making your first withdrawal from a live account. With the Accelerated Program, however, it’s a non-refundable one-time fee.

Our Experience with My Forex Funds

My Forex Funds provided us with a positive trading experience, thanks to their excellent customer support and an active Discord channel with over 179,000 members. Compared to other forex firms, My Forex Funds boasts a superior community where traders can connect and share insights on trading strategies and trends.

My Forex Funds Discord

Our Honest Opinion

My Forex Funds is a top-performing forex prop trading firm that provides traders with multiple incentives for success. They offer program options to support all traders and have a solid reputation in the industry.


#5

FundedNext

4.2
FundedNext earned a spot in our list of the best forex trading firms after extensive testing! This prop trading firm offers impressive profit targets, growth scaling plans, and a top-tier community for forex traders.
Challenge Difficulty:
4.3
Profit Share:
4.5
Educational Resources:
2.5
Customer Support:
4.5
Community Engagement:
5.0
Pros:
  • Up to 90% profit split
  • 24/7 account manager
  • Supports most trading styles
  • 1:100 leverage
  • Active community
Cons:
  • Only supports MetaTrader 4
  • Challenging evaluation profit targets
  • Low profit split for express accounts
Join Now Our Review

Features

As a seasoned expert in the world of forex trading, I can confidently say that FundedNext offers an impressive opportunity for traders to manage accounts up to $4,000,000. This is a significant advantage for those who aim to execute high-stakes trades and need the capital to do so.

Additionally, FundedNext provides multiple account options, catering to various trading styles, and allows for weekend trading, which is a rare feature among trading platforms.

FundedNext Benefits

Let’s discuss FundedNext’s key features!

✔️Up to 90% profit split – Keep up to 90% of your profits by working through the FundedNext scaling plan.

✔️15% profit spit during the evaluation – Receive 15% of your profits from the evaluation stages after you pass! 

✔️24/7 account manager  – Ask your dedicated account manager trading questions anytime, day or night!

✔️FundedNext App – Use the FundedNext mobile app to track your trading progress and receive live updates. 

✔️Amazing community – Join 24,000 forex traders on the FundedNext Discord channel to share trading tips with peers. 

Tradable Products

You have the freedom to trade any instrument or asset available on the MT4 platform (Forex currency/raw feed, indices, commodities) without any limitations on position sizes. There’s no restrictions on your trades, and you’re in control of your portfolio. Here’s a list of symbols you can choose from:

FundedNext Tradable Products

Trading Evaluation

FundedNext offers a two-step challenge process called the Evaluation Model, or a one-step challenge process called the Express Model. 

The Evaluation Model has lower profit targets than the Express Model, but the Express Model gives you unlimited time to pass. The profit targets during the evaluations are a little high, but this helps guarantee your success once you pass.

FundedNext Evaluation Model

Trading Platforms

FundedNext only lets you trade on the MetaTrader 4 trading platform. We wish they offered more choices, but MetaTrader 4 is a reliable platform, so we’re willing to overlook this flaw.

MetaTrader 4

Pricing

FundedNext’s pricing ranges from $99-999, depending on your account. Luckily, they’re one-time refundable fees! We appreciate this money-saving feature, as most trading firms keep the evaluation costs whether you pass or fail.

FundedNext Evaluation Pricing

Our Experience with FundedNext

We had a positive experience with FundedNext, so we ranked this prop trading firm as one of the best. In our opinion, FundedNext’s most impressive features include their generous profit splits and fantastic Discord community.

Our Honest Opinion on FundedNext

We think FundedNext is an excellent option for forex traders. With impressive scaling plans, fair profit splits, and multiple account options, FundedNext has much to offer skilled traders looking to grow. 

Frequently Asked Questions

What is the best prop forex trading firm?

FTMO is widely regarded as a top prop trading firm for forex traders, but not ideal for everyone. While it’s widely considered the best, not all prop firms are equal. You may need to explore other options if you want to trade futures.

Are forex prop firms legit?

Prop trading firms are worth it for traders with trading skills that lack capital. A good prop firm will provide you with a funded account and take on the liability for any losses while sharing in the profits.

Which prop firm is best for forex without a challenge?

City Traders Imperium allows you to get funded directly without passing a challenge phase. You can also check out AudaCity Capital, The 5%ers, and BluFX; these forex prop trading firms do not require you to practice on an evaluation account.

The Bottom Line

We trust that our comprehensive rankings of the best forex prop trading firms have equipped you with the knowledge you need to make an informed choice. By selecting a firm with the necessary resources, you’ll have the tools you need to flourish in the competitive forex market.

However, there are always more options to explore in the world of prop trading. That’s why we encourage you to check out our list of the Best Proprietary Trading Firms, which provide even more insights to help you achieve your goals. We wish you all the best in your trading career!

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