ForexPropFirm is a promising new proprietary trading firm who provide instant funding in addition to the conventional 1-Step and 2-Step Challenges for forex traders worldwide. Their funding programs are set up to meet the needs of a range of traders and they offer accounts sized between $10,000 to $10M. The company is picking up steam, with a variety of features giving them a competitive edge. In fact, they are one of very few prop firms offering a 90% to 100% profit share, starting from day one. If you can demonstrate your trading skills and successfully complete their challenges, ForexPropFirm gives you real capital and the possibility of restriction-free withdrawals, anytime.
There are several routes through which you can pursue a funded account with ForexPropFirm, as follows:
The instant funding model enables profitable traders to get funded and start earning profits on their funded trading account on their first day. Starting capital ranges from $10,000 to $20,000 (varying in price) and there is no profit target or time restriction. You do, however, need to manage drawdown to a maximum of 5% on the account.
You need to trade for at least five days each month to keep your account. All swing traders out there will be pleased to know that weekend holding is permitted. You should be aware that to partake in the scaling program, you need at least $25,000 in starting capital.
The 1-step funding model is simple and means you don’t have to complete two complete two verification stages.
The rules are straightforward: 10% profit target, 4% daily drawdown limit and a 6% total drawdown limit. The good news is that there are no minimum trading days or time limits. As with ForexPropFirm’s other two models, weekend holding, signals and EAs are all permitted. Once you successfully complete the challenge and become funded, the challenge fee is refunded in your first withdrawal.
Traders familiar with other 2-step challenges in the prop trading industry will find nothing new in Forex Prop Firm’s 2-step challenge. The first phase has an 8% profit target, with no daily drawdown limits and a very lenient maximum drawdown of 12%. The firm requires you to trade for a minimum of five days and a maximum of 35. During your evaluation you receive your share of the profit split, so long as you pass!
The second phase has a 5% profit target, with the same drawdown rules as the first phase. However, you have more time: 60 days to complete the phase. Profit share during this time is again 5% and once you pass you receive your whole fee with your first withdrawal.
Not your typical FTMO model, ForexPropFirm.com stands out as an exceptional choice, with some unique selling points that make working with them for your funded trading account worthwhile.
To begin with, they offer twice-monthly withdrawals, a feature unheard of elsewhere. Furthermore, the firm provides remarkable scaling opportunities, enabling traders to grow their funded trading capital to over $10,000,000.
Forex Prop Firm’s rules are also more lenient than those of other companies, allowing traders to hold positions over the weekends, use EAs and hedge on their accounts – actions which other prop firms have penalised. Adding to their appeal is their 1-step funding account, a feature which many firms don’t provide. This offering significantly increases the likelihood of traders’ success and accelerates the process of obtaining capital.
While funding of up to $10M sounds highly desirable, it’s worth considering whether obtaining a funded trading account with Forex Prop Firm is actually achievable.
ForexPropFirm.com provides a 1-step trading account as well as the more conventional 2-step challenge, which makes it significantly easier for traders to pass and become funded.
Additionally, Forex Prop Firm allows hedging, the use of EAs, and weekend position holding, making them suitable for a range of traders.
No minimum trading days and no time limits are imposed, freeing you from being compelled to take inferior setups in a rush to get funded quickly. Furthermore, a maximum drawdown limit of 6% and a maximum drawdown limit of 4% are in line with industry standards, which is reassuring.
Considering all this, the 1-step challenge is highly suitable for all profitable traders and should if anything be easier to pass than other challenges in the industry.
ForexPropFirm has a hard-hitting scaling plan which gives you access to up to $10M of trading capital, the biggest scaling plan in the industry. To be eligible for the scaling plan, you need to begin with a minimum of $25,000 in trading capital – an amount most funded accounts will have. Traders who become funded will work on 10% profit milestones: for every 10% profit earned, ForexPropFirm.com doubles your trading account balance, and every 10% profit qualifies you to re-invest 100% of the profit in the scaling plan, and upgrade to the next step. This straightforward scheme is designed to get you more funding.
ForexPropFirm partners with Eightcap for their trading accounts and liquidity, a well-regarded, award-winning broker regulated by ASIC. Offering over a thousand currency pairs and tight spreads, Eightcap provides some of the best trading conditions available in the prop trading industry.
ForexPropFirm.com offers a range of tradeable assets – forex, stocks, indices, and cryptocurrencies – catering for a variety of trading preferences. To provide a safe and reliable trading environment, every asset class has its individual features and trading conditions.
ForexPropFirm has an excellent choice of trading platforms including TradingView, MetaTrader 4 and MetaTrader 5. These are some of the industry leading trading platforms with powerful trading tools that enable you to conduct in-depth market analysis while having the option to use thousands of technical indicators. You can customise the interfaces according to your own preferences and build trading strategies as simple or as complex as you want them to be.
ForexPropFirm.com is one of the only proprietary firms that gives 90%-100% profit split to its traders and they do it from day one. Show them that you are an talented trader and that you can pass their challenges successfully, and the prop firm will offer you real funding that you may withdraw whenever you desire without having any limitations.
Once you have reached 5% on your funded account, you can request a withdrawal. Bear in mind that withdrawal is locked for the initial 30 days.
Withdrawals are requested directly from your trader dashboard and processed using a payment method of your choice (PayPal, WISE, cryptocurrencies and bank wire transfer). Payouts are made twice monthly, on the 1st and 16th of every month.
With over 376 Trustpilot reviews (as of 08/23), ForexPropFirm.com has an impeccable reputation and is rated as Excellent. Although this is a small number of reviews in comparison to the industry’s major firms, bear in mind that Forex Prop Firm was only recently established. Like forex brokers, all proprietary trading firms will garner a few negative reviews, as traders who fail the evaluation phase have a tendency to vent their frustration.
As previously discussed, the tight stop loss rule keeps traders in line and appropriately managing risk, thereby helping them to retain their funded account for longer.
- Straightforward, reasonable rules
- Enables traders to scale up to $10,000,000
- Twice-monthly profit withdrawal
- Offers a 1-step challenge, 2-step challenge and also instant funding
- No consistency rule
- No daily loss limit
- 90% profit share
- Fairly new proprietary trading firm
- Sales are sporadic
- Customer support has room for improvement
In summary, ForexPropFirm.com would be a suitable choice of prop firm for traders who want to acquire funding at pace. Enticing features such as high leverage, flexible rules, scaling opportunities, 1-step funding process and good reputation make it an obvious and compelling option for funded traders. Displaying your trading skills through the firm’s programs opens the door to you becoming part of their team. Once you successfully complete the evaluation stages, you will start trading using real money in the live market. Consequently, any profits you generate are accessible for withdrawal. ForexPropFirm.com has straightforward, clear rules and their programs are set up to be reasonable and equitable. Traders with experience will be able to move through the trades at pace, and those will less experience can take more time. Contrary to other firms in the industry, they actively want skilled traders to access funding opportunities.
