Finding the best forex funded accounts can be a bit tricky. However, to help you with that search, we have identified the best 5 funded accounts in forex to help you make an informed decision.
To identify the best forex funded accounts, we went through 150+ forex trading companies. All of these companies have their unique pros and cons:
Best Forex Funded Accounts in 2024:
1. The 5ers
The5ers is our top pick for best forex funded accounts. It offers attractive evaluation programs and a large selection of trading features which make their forex funded accounts better than others.
Pros
- 4.8 out of 5 on Trustpilot
- Three distinct financing initiatives
- Dashboard for a professional trader
- Maximum leverage of 1:100 combined with large stakes
- There is no time limit on trading
- A scaling strategy is offered
- Weekly payments every two weeks
- 80–100% profit share
- Weekend and overnight holding is permitted
- Trading news is permitted, excluding large stakes
- An inexpensive boot camp experience
Cons
- Hypergrowth and boot camps: minimal leverage
- Bootcamp: Risk and stop-loss requirements for each position
- Hypergrowth: Initial payment following a 10% profit
- High stakes: Requirement for a minimum profitable day
- High-risk situation: Not trading news
About
The5ers or Five Percent Online Ltd, was founded on April 9, 2020, with headquarters in Raanana, Israel, and London, UK. CEO Gil Ben Hur leads the organization and has been engaged in forex trading since 2007, focusing on order flow & price-action approaches. The5ers has three account options and utilizes a three-step screening procedure to enable immediate funding, collaborating with a liquidity provider for direct access to the market. As the CEO of The5ers, Ben Hur oversees the company’s fundraising and growth program, which is built on a unique proprietary trading platform. Before founding The5ers in 2016, Ben Hur was employed as a trading coach and portfolio manager.
Features
The5ers is a prop firm that provides three separate account kinds, each with its characteristics. These include limitless trading periods, no minimum trading days (save for High Stakes), low evaluation fees (Bootcamp), no evaluation phases (Hyper Growth), initial withdrawal after 14 days (High Stakes & Bootcamp), bi-weekly withdrawals, and profit shares of up to 100%.
The three account types are as follows: Bootcamp, which is a three-step evaluation process with a 6% profit target and a 5% maximum loss; Instant Funding, which allows funded traders to enjoy a 3% daily pause and a 4% maximum loss; and Two-Step Evaluation, which is similar to Bootcamp but has a more flexible scaling plan that allows for larger account management.
The5ers distinguishes itself from its competitors in the market by offering more versatility, cost-effectiveness, and profit-sharing. It’s a good choice for traders who want to enhance their expertise.
2. SurgeTrader
SurgeTrader is our #2 pick for best forex funded accounts because of their generous profit split, variable fees and simple regulations.
Pros
- 75% of profits are divided (90% with add-on).
- Variable fees & account options
- One-time payment for the audition
- open procedures and regulations
- A reasonable 10% profit goal
- Adaptability in trading tactics
- 30 days of free BKForex membership
- Quick withdrawals with no restrictions
Cons
- A short overview since May 2021
- Every trade requires a stop loss, with a 5% daily maximum loss.
- Few resources available for schooling
- Maximum open lots limited to 1/10000 of total account size
- Leverage: 2:1 for the cryptocurrency market; 5:1 for stocks; 10:1 for Forex, metals, indices, and oils
About
SurgeTrader is a trading firm established in September 2021 under Surge Capital Ventures, LLC. Jana Seaman, a venture entrepreneur, established the firm to offer investment opportunities to skilled traders with outstanding trading tactics but limited resources.
SurgeTrader, supported by Seaman’s company Valo Holdings, sets itself apart from conventional proprietary trading organizations by its clear and uncomplicated trading regulations. SurgeTrader, headquartered in Florida, has seen rapid worldwide expansion and provides traders with increased funding opportunities to maximize their achievements.
Features
SurgeTrader ensures traders are presented with uniform trading terms at all account tiers, encompassing a daily loss limit of 5%, a maximum drawdown of 8%, and a profit target of 10%. The platform provides educational resources and more than a hundred instruments, enabling the practice of a wide variety of trading strategies.
Costs and Plans:
- Free: Paper trading for platform exploration for 30 days at no cost.
- Paid: Paid funding ranging from $25,000 to $1,000,000 is available.
- Audition costs differ.
- Although it is possible to scale accounts, traders will be required to repeat the audition process if profit margins are not achieved.
3. Fidelcrest
Fidelcrest comes at No.3 in our rankings for the best forex funded accounts. They offer you access to the robust MetaTrader4 and MetaTrader5 platforms.
Pros
- Rational trading objectives
- Profit divided up to 90%
- Excellent client service
- Support for the platforms MT4 and MT5
- No necessity for a minimum number of trading days
- Trading is available on weekends.
Cons
- Discourages an unorganized strategy
- Absence of information regarding the management team
About
Founded in 2018, Fidelcrest is a global proprietary trading company with its main office located in Nicosia, Cyprus. The company’s goal is to enable knowledgeable traders by giving them access to real money up to $400,000. Despite the management team’s more than ten years of forex trading experience, the ownership of the company is still unknown, which is not typical in the industry.
Fidelcrest aims to enable consistent profits for individual customers by providing a range of account sizes to more than 6,000 active traders globally. Their trading challenge consists of financed trading over more than 1,000 instruments after an evaluation process. Traders must, however, closely follow the terms of their Trader Agreement to prevent account cancellation.
Features
Fidelcrest is a great platform for trading challenges, providing increased maximum balances, profit sharing, plus exclusive features. Traders can benefit from zero minimum trading requirements and weekend trading, enabling them to capitalize on market opportunities outside of standard trading hours. Fidelcrest is renowned for offering outstanding 24/7 customer support by seasoned professionals, aiding traders in overcoming obstacles and enhancing their likelihood of success.
The trading challenge provides traders with a valuable opportunity to evaluate, practice, and optimize their skills. It is supported with appealing features and profit-sharing arrangements, making it perfect for anyone looking to progress in their trading pursuits.
4. Blue Guardian
Pros
- Relaxed trading regulations
- Supported trading hours including weekends and copies.
- Standard profit splits in the industry
- Permitted by expert advisors
- Demonstrations up to $1,800,000
- Weekend and overnight holding is allowed.
- Profit sharing of up to 85%
- High Funding Levels
Cons
- Maximum daily drawdown depending on equity
- 8% is the initial maximum drawdown on Unlimited Guardian.
- Rapid Guardian’s trailing drawdown and its restricted support channels
- Restricted trading networks
About
In September 2021, Blue Guardian, officially known as Iconic Exchange FZCO was founded in Dubai, United Arab Emirates. Under the direction of CEO Sean Baiton, it provides two two-step evaluations in collaboration with ThinkMarkets as brokers and three different account kinds. Before changing its name in June 2021, Blue Guardian Capital was a Forex signal provider & educational organization.
The company intends to revamp its platform by 2023 and aim for the top spot in South Africa and other regions. Following a two-phase evaluation process, funding accounts are available to professional and seasoned traders. Blue Guardian Capital’s founder and CEO at the moment is Sean Bainton.
Features
The Guardian Protector from Blue Guardian is a risk management and trader equity protection solution. Trades will automatically close if a trader hits their daily loss threshold. This risk management feature, which establishes percentage restrictions on losses, is provided free of charge in evaluation accounts. It’s crucial to remember that market conditions could prevent quick execution. After enabling this function, traders are ultimately in charge of making sure their trading stays within the designated loss limitations.
5. MyFlashFunding
Pros
- Unlimited period of trade
- No limitations on trading
- The best scaling strategy obtainable
- Prompt payment within seven days
- Fast financing procedure
- High ratings on Trustpilot
- Simple platform setup
- Low-revenue objectives
- No minimum amount is needed to trade
Cons
- No retry option available
- A bit costly
- Insufficient support system
- High Commission Costs: $7 for Each Round Lot
About
MyFlashFunding is a privately held company that was founded on April 27, 2023, and has been in business since August 2, 2023. Under the direction of CEO Blake Carter, it has its headquarters in the US. The company provides two different funding programs: an extensive two-step evaluation challenge and a simplified one-step evaluation.
Accounts up to $400,000 and potentially up to $2,000,000 can be combined by traders. MyFlashFunding uses ThinkMarkets as its brokerage platform and runs on either MetaTrader 4 or MetaTrader 5. Springfield, Missouri’s 331 Park Central East is the address of their office.
Features
A prop company called MyFlashFunding provides two distinct account kinds with different assessment procedures. It distinguishes itself from other companies by offering traders biweekly rewards, no minimum trading days, & unrestricted trading with speedy withdrawals within 14 days. Completing two phases with a 6% profit target, 4% daily, & 8% maximum loss regulations makes up the Two-step Evaluation procedure.
It also provides a scalability plan for bigger customers. In contrast to its competitors, MyFlashFunding is renowned for its adaptability, quick withdrawals, and bi-weekly payouts, which makes it a great option for traders seeking funding options with few limitations.
What are Forex Funded Accounts?
A Forex funded account is a type of financial arrangement provided by proprietary trading firms that allows traders to trade with the firm’s capital rather than risking their own funds. This setup is particularly appealing to skilled traders who may lack the substantial capital required to achieve significant profits through the Forex market. Here’s how it typically works:
- Evaluation: To qualify for a forex funded account, traders often undergo an evaluation process which may involve trading on a demo account under specific conditions. They need to demonstrate their trading skills by adhering to the firm’s risk management rules and achieving certain profit targets within a set timeframe.
- Funding: Once traders successfully pass the evaluation, they are given access to a funded account. The amount of capital allocated can vary widely depending on the firm’s policies and the trader’s performance during the evaluation phase.
- Profit Sharing: Traders use the provided capital to trade in the Forex market, and any profits generated are split between the trader and the proprietary firm according to a predetermined ratio. While the trader gets a share of the profits, they do not bear the risk of losses, as those are absorbed by the firm.
- Risk Management: Funded accounts come with strict trading rules and risk management protocols. Traders must adhere to these guidelines, which often include limits on daily or overall drawdowns, restrictions on trading certain currency pairs, or adherence to specific trading hours.
- Growth Opportunities: Many prop firms offer growth plans that allow successful traders to manage increasingly larger funded accounts based on their trading performance and consistency. This incentivizes traders to adhere to sound trading and risk management practices.
Forex funded accounts offer a unique opportunity for traders to leverage professional-grade capital while mitigating personal financial risk. This model benefits both the trader, who gains the opportunity to earn significant profits without a large initial investment, and the proprietary trading firm, which can capitalize on the skills of a diverse pool of traders to generate returns.
How Do Forex Funded Accounts Help You Generate Profits?
Traders make money from forex funded accounts through a profit-sharing arrangement with the proprietary (prop) trading firm that provides the account. This process involves several key steps and principles:
- Passing the Evaluation: Initially, traders must pass an evaluation or challenge set by the prop firm. This usually involves trading on a demo account under specific conditions, achieving profit targets within set risk management rules, and demonstrating consistent trading ability over a certain period.
- Receiving the Funded Account: Once the evaluation is successfully completed, the trader is allocated a real funded account by the prop firm. The size of this account can vary but typically starts from a few thousand dollars to much larger amounts, depending on the firm’s policies and the trader’s performance during the evaluation.
- Trading and Generating Profits: With access to the funded account, traders then apply their skills and strategies to trade in the forex market. They aim to generate profits by leveraging the capital provided by the prop firm. Effective risk management, market analysis, and trading discipline are crucial at this stage to ensure consistent profitability.
- Profit Sharing: Any profits generated from trading activities are shared between the trader and the prop firm according to a pre-agreed split. This ratio varies among firms but commonly ranges from 50/50 to 80/20 in favor of the trader. For instance, if a trader earns $10,000 in profits and the split is 70/30, the trader would receive $7,000, while the prop firm would take $3,000.
- Risk Management Compliance: To continue trading with the funded account, traders must comply with the firm’s risk management rules, such as maximum drawdown limits and exposure levels. Violating these rules can result in a warning, suspension, or even termination of the funded account.
The primary way traders make money from forex funded accounts is through this profit-sharing mechanism, which allows them to earn substantial amounts without risking their own capital. This setup incentivizes traders to perform well, as their income directly correlates with their trading success and the ability to manage risk effectively.
How to Choose the Best Forex Funded Accounts:
To choose the best forex funded accounts, you need to keep a few factors in mind:
Trading Conditions
You should check the trading conditions offered with the forex funded accounts of the prop firm. Every proprietary trading firm has different trading conditions and you should pick the one which matches your specific requirements the best.
For example, The5ers‘ forex funded accounts can offer you instant funding, which means you can begin trading with a forex funded account right away. This is a benefit exclusive to very few prop firms.
Online Reviews
Always check the online reviews of the forex funded accounts provider to determine if they are worth your money or not. Customer feedback is one of the most effective ways to see whether you can trust them with your time and money. All the companies we have added on our list have stellar ratings on different consumer platforms including Trustpilot.
Checking the online reviews will also ensure that you don’t fall prey to any scams.
Trading Platform
Different forex funded accounts providers offer different trading platforms. Some companies have their proprietary trading platform wile others tend to rely on MetaTrader. Be sure to familiarize yourself with the trading platform of the forex funded account provider.
This way, you can be sure of making the most out of your funding program.
Industry Experience
Checking the brand authority and industry experience of the forex funded accounts provider is also crucial. A general rule of thumb is: the more experience a company has the better.
Fore example, both Fidelcrest and SurgeTrader are highly experineced forex funded accounts providers. They have a highly skilled team of experts and as a result, they have recieved countless positive reviews from their clients.
It’s always best to work with a company with multiple years of experience.
Best Forex Funded Accounts: Summary
We hope you found this guide on the best forex funded accounts providers helpful. If you have any questions or feedback to share, feel free to contact us or use the comment form below.
