7 Best Prop Trading Firms of 2023 Reviewed

August 1, 2023

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Looking for the best prop trading firms that can provide you with the necessary capital to execute your strategies effectively? As a trader, having access to sufficient funds can make all the difference between success and failure.

Proprietary (or “prop”) trading firms evolved to solve this issue, granting traders capital in exchange for a portion of the profits generated. In this article, we’ll evaluate seven of the best prop trading firms and help you decide which one will give you the best opportunity to succeed.

Learn more: Wondering who to trust with your stock trades? Our latest post sorts through the best online brokers available today.

Remember: Prop trading involves significant risks. Be sure that you understand them before making any commitments!

Quick Review

BEST ASSET COVERAGE

SurgeTrader

Profit Split: 75% (up to 90%)
Tradeable Assets: FX, Oil, Metals, Indices, Crypto, Some Stocks
Drawdown Limits: 8% Max, 5% Daily
Price for Standard $100K Acct.: $700
Standard Leverage: 10:1

SurgeTrader is one of the most popular and reputable prop trading firms. The platform is notable for letting traders get up and running with flexible funded accounts quickly, requiring just a one-phase trial. The platform truly stands out for its wide variety of asset coverage, making it a good choice for traders whose strategies span multiple asset classes. Read more

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BEST FOR AGGRESSIVE TRADERS

Traders With Edge

Profit Split: 80%
Tradeable Assets: FX, Metals, Commodities, Indices, Crypto
Drawdown Limits: 5%-20% Max, 2.5%-10% Daily
Price for Standard $100K Acct.: $750
Standard Leverage: 20:1

Traders With Edge is a prop trading firm noted for the flexibility it offers traders, including several different trial options that suit distinct trading styles. In addition, the firm has fairly loose risk limits, which, when paired with the platform’s allowance for many different strategies, makes it a great choice for aggressive traders. While leverage ratios could be improved, most traders will be well-suited to the existing limits. Read more

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BEST FOR FUTURES

TopStep

Profit Split: 100% up to $10K, then 90%
Tradeable Assets: Futures incl. Indices, Oil, Rates, Gold
Drawdown Limits: 3%-4% Max, 2% Daily
Price for Standard $100K Acct.: $325/month
Standard Leverage: Dependent, expressed in total contracts

TopStep is one of the best prop trading firms as it focuses on serving futures traders. The firm has been in the business for a decade, earning it a strong reputation. This history, along with a notably high profit split, makes the platform an especially good choice for futures traders looking to expand their capital base with a reliable partner. Read more

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BEST FOR INSTANT FUNDING

The 5%ers

Profit Split: 50%-100%
Tradeable Assets: FX, Metals, Indices
Drawdown Limits: 4%-6% Max
Price for Standard $100K Acct.: $495
Standard Leverage: 30:1

The 5%ers offers a strong platform overall, although it is somewhat held back by a relatively poor profit split and strict drawdown limits. Still, the company is one of the only prop trading firms to offer accounts with instant funding. While these accounts require an expensive upfront fee, The 5%ers is a strong option for those who want to get up and running right away. Read more

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BEST FOR FOREX

FTMO

Profit Split: 80%-90%
Tradeable Assets: FX, Indices, Commodities, Crypto
Drawdown Limits: 10%-20% Max, 5%-10% Daily
Price for Standard $100K Acct.: € 540
Standard Leverage: 100:1

While FTMO offers access to some other asset classes, it is a firm primarily built for forex traders. Through the platform, users can trade most major pairs as well as a number of smaller cross pairs. FTMO is also notable for its high leverage limits and good payout structure. Read more

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BEST OVERALL

The Funded Trader

Profit Split: 80%-90%
Tradeable Assets: FX, Oil, Metals, Indices, Crypto
Drawdown Limits: 6%-12% Max, 3%-6% Daily
Price for Standard $100K Acct.: $499
Standard Leverage: 60:1

At first glance, The Funded Trader may not seem like a serious contender due to its presentation as a game-like platform. Under the surface, though, The Funded Trader is a solid prop trading firm with a good reputation, offering a variety of account options and asset classes. While the company does not stand out in any one area, traders looking for a generally strong platform will do well with The Funded Trader. Read more

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BEST PREMIUM SERVICE

FidelCrest

Profit Split: 80%-90%
Tradeable Assets: FX, Stocks, Metals, Commodities
Drawdown Limits: 10%-20% Max, 5%-10% daily
Price for $250K Acct. (No $100K Option): €999
Standard Leverage: 100:1

FidelCrest has relatively higher prices for its accounts than many other firms, making it one of the best prop trading firms for traders who require a premium service. The firm has fairly lenient risk limits, high leverage, and a solid profit split. Due to the extensive trial process, though, new traders will likely be best served by other firms. Read more

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The Best Prop Trading Firms

Here’s a closer look at the best prop trading firms.

1. SurgeTrader

SurgeTrader is one of the best prop trading firms, and for a good reason. The company focuses on getting traders up and running quickly, requiring a one-phase trial with a 10% profit target.

While SurgeTrader emphasizes that traders can achieve up to a 90% profit split, this advantage comes with the requirement of an additional fee. The standard profit split is only 75%. Still, traders can expect to trade a wide variety of assets on the platform, making SurgeTrader a great option for traders whose strategies span multiple asset classes.

Leean more: Interested in the reality of day trading profits? Check out our post “How Many Day Traders Make Money?“, where we delve into the numbers.

One of SurgeTrader’s downsides is a fairly low leverage limit, which caps potential profit opportunities for traders. In addition, the fees are higher than other platforms for comparable account sizes. Still, some traders may find SurgeTrader worth the higher price due to the platform’s ease of use and reputation.

Pros:

Easy-to-use platform
Great asset coverage,
Quick funding access

Cons:

Low leverage limits
Small initial profit split

Features

Feature	All Accounts
Profit Split	75% (Up to 90%)
Tradeable Assets	FX, Oil, Metals, Indices, Crypto, Some Stocks
Risk Limits	8% Max, 5% Daily
Trial Profit Target	10%, One Phase
Leverage	10:1 for Most Assets (Up to 20:1)

Pricing

Account Size	Standard Account
$25,000	$250
$50,000	$400
$100,000	$700
$250,000	$1,800
$500,000	$3,500
$1,000,000	$6,500

2. Traders With Edge

While Traders With Edge is somewhat newer to the industry than some other members of this list, it has earned a positive reputation for the flexibility and freedom it offers traders. For example, Traders With Edge permits some trading styles that are deemed too risky for other firms, making the platform a potentially good choice for aggressive traders who don’t want unnecessary restrictions.

In addition, Traders With Edge offers multiple options for getting funding approval. Traders can either pursue the one-phase ‘Turtle’ challenge, which is good for slow and steady traders, or the two-phase ‘Hare’ challenge, oriented toward those who generate quick profits. For newer traders who are still exploring their style, trading on a platform that accommodates diverse approaches could be helpful for learning such a complex field. To bolster Traders With Edge’s reputation for flexibility, the platform has a fairly quick payout structure, offering withdrawals every two weeks.

Pros:

Flexible options for approval
Allows aggressive trading styles
Quick payouts

Cons:

Higher price
A newer firm with less history

Features

Feature	Turtle – Standard	Turtle – Aggressive	Hare – Standard	Hare – Aggressive
Profit Split	80%	80%	80%	80%
Tradeable Assets	FX, Metals, Commodities, Indices, Crypto	FX, Metals, Commodities, Indices, Crypto	FX, Metals, Commodities, Indices, Crypto	FX, Metals, Commodities, Indices, Crypto
Risk Limits	5% Max, 2.5% Daily	10% Max, 5% Daily	10% Max, 5% Daily	20% Max, 10% Daily
Trial Profit Target	10%, One Phase	20%, One Phase	10%, 5%, One Phase	20%, 10%, One Phase
Leverage	20:1	20:1	50:1	50:1

Pricing

Account Size	Turtle -Standard	Turtle -Aggressive	Hare -Standard	Hare -Aggressive
$5,000	$55	$110	$69	$138
$10,000	$100	$200	$110	$220
$25,000	$250	$500	$220	$440
$50,000	$450	$900	$330	$660
$100,000	$750	$1,500	$550	–
$200,000	$1,000	$3,000	$997	–
$400,000	–	–	$1,994	–
$500,000	$3,500	$7,000	–	–
$1,000,000	$7,500	$15,000	–	–

3. TopStep

TopStep is a platform with an excellent reputation in the futures trading community. The firm has been in operation for a decade and is dedicated to engaging with traders who operate in the futures market. While this clear concentration on one market could be a value-add for focused traders, newer users should be wary of the lack of flexibility they will have to test strategies in new markets.

With that being said, TopStep is also one of the few firms that shows a clear desire to educate and train emerging traders. The platform offers access to coaching, educational courses, and a community of traders where experience can be shared.

TopStep has a somewhat different trial process than most, requiring a monthly subscription while traders pass a two-step “Trader Combine.” Navigating the process can be worth it, as TopStep’s 90% profit ratio is one of the highest in the industry, making it one of the best prop trading firms options.

Pros:

Extensive history
Education tools
High profit ratio

Cons:

Limited asset options
Monthly fee rather than one-time
Strict risk limits and rules
Small max account size

Features

Feature	All Accounts
Profit Split	100% up to $10K, then 90%
Tradeable Assets	Futures incl. Indices, Oil, Rates, Gold
Risk Limits	3%-4% Max, 2% Daily
Trial Profit Target	6%, 6%, Two Phases
Leverage	Dependent, Expressed in Total Contracts

Pricing

Account Size	Standard Account
$50,000	$165/month
$100,000	$325/month
$150,000	$375/month

4. The 5%ers

For those with no desire to wait before diving into live trading, The 5%ers is one of the only platforms to offer an instantaneous funding option. The “Hyper-Growth” program lets you get set up right away, with the possibility of expanding account funding if certain profit targets are hit. Traders should be aware of the high upfront cost of this program, however, especially compared to the account size.

For those who are a bit more patient, The 5%ers have several options for more traditional trials. These trials are actually quite a bit cheaper than the industry average, so this could be a good platform for those sensitive to high trial fees. Still, the biggest drawback to the platform is a poor profit split, with a standard payout ratio of only 50%. This low level might make the platform unattractive to successful traders.

Pros:

Instant funding options
Inexpensive standard options
Lower profit targets

Cons:

Strict drawdown limits
Poor profit split
Low leverage for some accounts

Features

Feature	Bootcamp	Hyper Growth	High Stakes
Profit Split	50%-100%	50%-100%	80%-100%
Tradeable Assets	FX, Metals, Indices	FX, Metals, Indices	FX, Metals, Indices
Risk Limits	4% Max	6% Max	5% Max
Trial Profit Target	5%, Three Phases	None, Instant Funds	8%, 5%, Two Phases
Leverage	10:1	30:1	100:1

Pricing

Account Size	Bootcamp	Hyper Growth	High Stakes
$5,000	–	–	$39
$10,000	–	$260	–
$20,000	–	$450	$165
$40,000	–	$850	–
$60,000	–	–	$300
$100,000	$205	–	$495
$250,000	$350	–	–

5. FTMO

FTMO is a prop trading firm focused on forex, although the platform also supports trading indices, crypto, and commodities. Forex users are likely to feel at home, though, with an ample mix of major pairs and cross pairs to trade.

FTMO’s trading challenge is not as simple as those of other firms, requiring a two-step process with different profit targets. While FTMO’s profit split starts at 80%, this can increase to 90% for a successful trader. FTMO’s “scaling plan” provides some additional incentives for traders to succeed once they are on the platform.

Additionally, FTMO has somewhat strict risk limits, including requiring positions to be closed out overnight for most accounts. This may be inappropriate for medium-term traders. Still, while FTMO may not be right for everyone, it has a strong reputation in the forex community and continues to be a popular choice overall.

Learn more: Curious about paper trading platforms? Our recent post, “Best Paper Trading Platforms,” offers a close-up view of the best ones in the market.

Pros:

Good profit split
High leverage
Incentives for successful traders
Great for forex

Cons:

Strict strategy limits
Small max account size for aggressive strategies

Features

Feature	Normal	Aggressive
Profit Split	80%-90%	80%-90%
Tradeable Assets	FX, Indices, Commodities, Crypto	FX, Indices, Commodities, Crypto
Risk Limits	10% Max, 5% Daily	20% Max, 10% Daily
Trial Profit Target	10%, 5%, Two Phases	20%, 10%, Two Phases
Leverage	100:1	100:1

Pricing

Account Size	Normal	Aggressive
$10,000	€ 155	€ 250
$25,000	€ 250	€ 345
$50,000	€ 345	€ 540
$100,000	€ 540	€1,080
$200,000	€1,080	–

6. The Funded Trader

The Funded Trader emphasizes the gamification of its platform, presenting its website as almost like a video game. Don’t be fooled. The company is a legitimate prop trading firm with a strong history. Some traders might enjoy the video game approach for the way it eases the pressure of trading, as well as the community that has sprung up around the firm.

The Funded Trader offers a number of different ways to get set up with an account, allowing good flexibility for different trading styles. Trial fees can vary widely among these different options, but the firm is notable for allowing slightly higher maximum drawdowns on its standard accounts than other platforms.

In addition, the leverage allowable on The Funded Trader is higher than traders might find elsewhere, with limits in certain scenarios being as high as 200:1. These factors mean this firm might be one of the best prop trading firms for traders running high-risk, high-reward strategies.

Pros:

Variety of account options
Good profit split
High leverage
Community Discord server

Cons:

Complicated trading rules

Features

Feature	Standard – Swing	Standard – Regular	Rapid – Swing	Rapid – Regular	Royal	Knight
Profit Split	80%-90%	80%-90%	80%-90%	80%-90%	80%-90%	80%-90%
Tradeable Assets	FX, Oil, Metals, Indices, Crypto	FX, Oil, Metals, Indices, Crypto	FX, Oil, Metals, Indices, Crypto	FX, Oil, Metals, Indices, Crypto	FX, Oil, Metals, Indices, Crypto	FX, Oil, Metals, Indices, Crypto
Risk Limits	12% Max, 6% Daily	12% Max, 6% Daily	8% Max, 5% Daily	8% Max, 5% Daily	10% Max, 5% Daily	6% Max, 3% Daily
Trial Profit Target	10%, 5%, Two Phases	10%, 5%, Two Phases	8%, 5%, Two Phases	8%, 5%, Two Phases	8%, 5%, Two Phases	10%, One Phase
Leverage	60:1	100:1	30:1	100:1	100:1	30:1

Pricing

Account Size	Standard	Rapid	Royal	Knight
$10,000	$129	$129	–	–
$25,000	$189	$229	–	$189
$50,000	$315	$299	$289	$289
$100,000	$549	$499	$489	$489
$200,000	$979	$899	$939	$939
$300,000	$1,469	–	$1,399	–
$400,000	$1,958	–	$1,869	–

7. FidelCrest

FidelCrest is a premium prop trading firm that offers flexibility and a high payout ratio in exchange for larger upfront costs. For example, its “Aggressive” $250K account has a profit split of 90% and a max drawdown of 20% but has a trial price of more than $2,000. With that being said, FidelCrest offers unlimited trial retries for all its account types, unlike some firms which charge an additional fee.

In addition, FidelCrest offers access to “Micro Trader” accounts, which come with significantly reduced account sizes. If you are looking for a prop trading firm, however, it’s likely that such accounts, which range from $15,000 to $60,000, will not move the needle on your trading strategies.

Learn more: Get a grip on stock trading without risking your money – check out our post for a how-to guide.

Non-European traders should also keep in mind that FidelCrest has a 3^rd party withdrawal fee of about $50 to send payments outside Europe, which could impact the bottom line of some traders.

Pros:

Good asset coverage
High leverage
Wide account size ranges
High profit split

Cons:

Very expensive
Non-Europe withdrawal fee
Slow funding process

Features

Feature	Pro Trader -Normal	Pro Trader -Aggressive	Micro Trader -Normal	Micro Trader -Aggressive
Profit Split	80%	90%	80%	90%
Tradeable Assets	FX, Stocks, Metals, Commodities	FX, Stocks, Metals, Commodities	FX, Stocks, Metals, Commodities	FX, Stocks, Metals, Commodities
Risk Limits	10% Max, 5% Daily	20% Max, 10% Daily	10% Max, 5% Daily	20% Max, 10% Daily
Trial Profit Target	10%, 10%, Two Phases	20%, 20%, Two Phases	10%, 5%, Two Phases	15%, 15%, Two Phases
Leverage	100:1	100:1	100:1	100:1

Pricing

Account Size	Normal	Aggressive
$15,000	€99	€199
$30,000	€199	€299
$60,000	€299	€399
$250,000	€999	€1,999
$500,000	€1,899	€3,499
$1,000,000	€2,999	–

Methodology

The prop trading firms we covered were analyzed based on a number of specific factors, all tailored to judge how well the platforms serve traders. The major factors we reviewed included reputation, price, and ease of use. In addition, we considered features such as asset coverage, leverage limits, and profit splits. Finally, trial targets and risk limits were examined, although these factors had a smaller influence on our determinations.

Here is a breakdown of the most important factors we considered.

Reputation

Like any tool in the financial space, popularity, history, and reputation play a role in the perception of reliability and safety for users. We prioritized firms that hold a solid reputation among traders, but we were careful not to exclude good options simply because they are newer competitors.

Pricing

The firms we discussed offer a number of different price points based on account size and risk limits. We tried to highlight firms that offer good value for users and pointed out those platforms which charge a higher price than the industry average. We also considered whether this high price is made up for in unique features, however.

Ease of Use

Some trading platforms can be complex to get started on, particularly those with many rules and limitations. We focused on platforms that let users focus on trading the markets rather than spending a lot of time learning the ins and outs of a specific firm.

Asset Coverage

We included a mix of firms with respect to asset coverage, ranging from those with a variety of tradeable products to those that are focused on one market in particular. While more asset coverage is generally a good thing for traders, the specificity with which some firms operate can be valuable to traders in that market.

Leverage Limits

While higher leverage limits can lead traders to take on more risk, they also allow traders with smaller account sizes to magnify their winning trades. While varying leverage limits played a role in our determinations, they were outshined in importance by other competing factors.

Profit Splits

Profit splits determine the ratio of a trader’s profits that get converted to actual earnings. We believe this factor is of significant importance to traders, so we highlighted firms that offer generous profit splits. Still, we included firms with less attractive splits if we thought they provided sufficient value in other areas.

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