Forex Prop Firm Review

What is Forex Prop Firm?

Forex Prop Firm is a dynamic proprietary trading firm that was established in January 2022 under the official business name 9452-8635 Québec Inc. Headquartered in Montreal, Canada, they’ve set out to create a trader-centric ecosystem, offering a comfortable trading environment to traders worldwide.

The firm has integrated its proprietary technology with Eightcap, an ASIC-regulated broker based in Melbourne, Australia. This partnership enhances the trading experience, ensuring traders have access to top-tier liquidity and reliable execution.

The CEO of Forex Prop Firm is Jonathan Dufresne. While additional information about Jonathan and his role will be unveiled in the future, his leadership is steering the firm towards innovative and trader-friendly solutions. The principal place of business for Forex Prop Firm is situated at 288 Christin, J5z 4n1, Qc, Canada.

As Forex Prop Firm gains momentum, it’s evident that its commitment to providing traders with lucrative opportunities and a supportive trading environment sets them on a promising trajectory within the competitive world of proprietary trading. Stay tuned for more exciting developments from this innovative company.

Forex Prop Firm Funding Programs and Challenges: Rules and Requirements 

To cater to the diverse needs of traders, Forex Prop Firm has introduced four distinct funding programs. These programs offer traders the opportunity to earn impressive profit splits, which can go as high as 100%. Notably, these programs allow traders to manage initial account sizes ranging from $10,000 to a substantial $200,000, with the potential to scale up to an impressive $10,000,000.

Forex Prop Firm stands out by offering instant funding alongside the more conventional 1-step and 2-step challenges. These funding options cover various account sizes, from $10,000 to $10 million. One of the standout features of the firm is its exceptional profit-sharing model, where traders can earn between 90% and 100% of their profits right from day one.

The challenges and funding options at Forex Prop Firm are designed to give traders the opportunity for unrestricted withdrawals at any time. This flexibility, combined with their attractive profit-sharing model, has garnered the firm a strong reputation in the trading industry.

According to the firm, every trader is different, and they have tailored their funding programs to meet individual needs. Explore the four distinctive programs that the company offers and embark on a trading journey with confidence.

One-step Evaluation Program:

Their one-step evaluation program provides a flexible and no-time-limit approach for traders. You can trade with leverage up to 1:30, and the company offers various account sizes with their respective pricing:

• $25,000 for $209
• $50,000 for $319
• $100,000 for $549
• $200,000 for $999

In this program, your goal is to reach a 10% profit target while staying within the 4% maximum daily and 6% overall drawdown limit rules. The beauty of this program lies in its absence of minimum or maximum trading day requirements, granting you the freedom to trade at your own pace.

Upon completing the evaluation, you gain access to a funded account with a 5% profit target threshold for withdrawals. The initial profit split is set at 90%, which can be scaled up to 100% through their scaling plan. You also receive a 10% bonus on your evaluation period profits when requesting your first payout, which can be done 30 calendar days after your first trade on your funded account. Subsequent withdrawals are available on a bi-weekly basis, specifically on the 1st and 16th of each month.

Program Rules:

• Profit Target: 10% 
• Maximum Daily Loss: 4%
• Maximum Loss: 6%

Two-step Evaluation Program (No Daily Drawdown):

The firm’s two-step evaluation program is designed to reward disciplined and talented traders. It also offers leverage up to 1:30, and the account sizes include:

• $25,000 for $189
• $50,000 for $289
• $100,000 for $499
• $200,000 for $979

Step one of the program sets an 8% profit target and a 12% maximum loss rule, with a 35-day timeframe and a minimum of five trading days to progress to step two. Step two requires a 5% profit target with the same 12% maximum loss rule, a 60-day timeframe, and a five-day minimum trading requirement to achieve funded status.

Upon successful completion of both steps, you earn a funded account with a 5% profit target threshold for withdrawals. The initial profit split is 90%, which can be scaled to 100% via their scaling plan. You also receive a 10% bonus on your profits from both evaluation steps when requesting your first payout, available 30 calendar days after your first trade on your funded account. Subsequent withdrawals follow a bi-weekly schedule, on the 1st and 16th of each month.

Program Rules:

• Phase 1 Profit Target: 8%
• Phase 2 Profit Target: 5%
• Maximum Daily Loss (Funded Account): 5%
• Maximum Loss (Funded Account): 10%

No Time Limit, Two-Step Evaluation Program:

The company’s no-time-limit two-step evaluation program is designed for disciplined and talented traders. It offers leverage up to 1:30 and includes the following account sizes:

• $25,000 for $209
• $50,000 for $319
• $100,000 for $549
• $200,000 for $999

In this program, step one entails a 10% profit target, with a 5% maximum daily loss and a 10% maximum loss rule. No maximum trading day requirements are imposed in phase one, but you must trade for a minimum of three days to proceed to step two.

Step two requires a 5% profit target and maintains the same maximum loss and maximum daily loss rules. As in phase one, there are no maximum trading day requirements, but you must trade for a minimum of three days to reach funded status.

Successful completion of both evaluation steps rewards you with a funded account, featuring a 5% profit target threshold for withdrawals. The initial profit split is set at 90%, which can be scaled to 100% through their scaling plan. Additionally, when requesting your first payout, you’ll receive a 10% bonus on the profits generated during both evaluation steps. Subsequent withdrawals can be requested bi-weekly, on the 1st and 16th of each month, provided you’ve generated a profit of 5% or more.

Program Rules:

• Phase 1 Profit Target: 10%
• Phase 2 Profit Target: 5%
• Maximum Daily Loss (Funded Account): 5%
• Maximum Loss (Funded Account): 10%

Instant Funding Program:

The firm’s instant funding program caters to experienced traders who can bypass the evaluation period. With leverage up to 1:30, here are the account sizes and pricing:

• $10,000 for $500
• $25,000 for $1,250
• $50,000 for $2,500
• $100,000 for $5,000
• $200,000 for $10,000

In this program, you need to stay within the 5% maximum daily loss and 5% overall drawdown limit rules. You also have a minimum trading day requirement of five days and a 5% profit target to be eligible for your first withdrawal. Depending on the profits you make, your profit split can range from 80% to 100%.

Upon requesting your first payout, you can subsequently withdraw funds on a bi-weekly basis, specifically on the 1st and 16th of each month, provided you’ve generated a profit of 5% or more.

Program Rules:

• Profit Target: 5%
• Maximum Daily Loss: 5%
• Maximum Loss: 5%
• Minimum Trading Days (First Payout): 5 days

The Forex Prop Firm claims to provide the flexibility and opportunities you need to excel in your trading career. Choose the program that suits your style and take the first step towards your trading success.

Forex Prop Firm Broker: Do They Use a Reliable Platform?

Forex Prop Firm has chosen Eightcap as its preferred broker for a range of compelling reasons. 

The Australian Securities and Investments Commission (ASIC), which has its headquarters in Melbourne, Australia, regulates Eightcap as a broker. Established in 2009, they have operated with a clear and straightforward mission from the very beginning: to deliver exceptional financial services to their clients. With a presence spanning five offices across the globe, Eightcap holds regulatory licenses in multiple locations. This extensive reach empowers clients worldwide to engage in trading activities across various markets, including foreign exchange (FX), indices, commodities, and shares.

In a strategic partnership, Forex Prop Firm aligns itself with Eightcap, leveraging its trading accounts and liquidity. Eightcap is a highly reputable, award-winning broker renowned for its stringent regulatory oversight by ASIC. This partnership ensures that traders associated with Forex Prop Firm can access a broker that offers exceptional trading conditions.

One of Eightcap’s notable strengths lies in the diverse range of trading instruments they offer, including an extensive selection of over a thousand currency pairs. This broad array of options, combined with tight spreads, places Eightcap at the forefront of the prop trading industry. Traders working with Forex Prop Firm can thus benefit from a broker that provides some of the most favorable trading conditions available.

Forex Prop Firm Fees: How Much Do They Charge? 

• FOREX: $7 per LOT
• COMMODITIES: $0 per LOT
• INDICES: $0 per LOT
• CRYPTO: $0 per LOT

These are trading commission amounts.

Once you have achieved a 5% profit on your funded account, you are eligible to request a withdrawal. It’s important to note that withdrawals are restricted for the first 30 days.

To request a withdrawal, you can do so directly from your trader dashboard and choose your preferred payment method, including options such as PayPal, WISE, cryptocurrencies, and bank wire transfers. Payouts are processed twice a month, specifically on the 1st and 16th of each month.

Forex Prop Firm Proof of Payment:

Numerous payment proofs show that Forex Prop Firm, which started operations in January 2022, has a strong track record of helping its traders achieve profitability and qualify for profit sharing.

It’s important to note that once you’ve attained funded status through any of the four funding programs offered by Forex Prop Firm, your first payout becomes accessible after 30 calendar days. Furthermore, you have the flexibility to request withdrawals on the 1st and 16th of each month, with the condition of generating a minimum profit of 5% for eligibility. Your payout entails a 90% profit split, which can potentially increase to 100% through participation in Forex Prop Firm’s scaling plan.

As for payment proof, you can find a wealth of examples showcasing the success of Forex Prop Firm’s traders, with profit split certificates being shared widely. This evidence of payment can be found on their Discord and Telegram channels, offering transparency and verification of their traders’ achievements.

Forex Prop Firm Customer Support:

A satisfied trader from Forex Prop Firm recently provided an in-depth comment, offering valuable feedback based on his experience with the company. He expressed appreciation for several key aspects of their service. First and foremost, he commended the enticing 90% profit share arrangement, which serves as a motivating factor for traders. Knowing that they can withdraw 90% of the profits they generate creates a strong incentive to excel in their trading endeavors.

The outstanding customer service that Forex Prop Firm offered was the second highlight in the trader’s feedback. He praised their swift and responsive support team, emphasizing that their assistance is available round-the-clock, 24/7. This constant availability ensures that traders can receive timely and effective support whenever they need it.

Lastly, the trader lauded Forex Prop Firm’s trading rules, emphasizing their simplicity and straightforward nature. These rules are uniform across all four funding models, designed with the primary objective of helping traders succeed and grow alongside the company.

Forex Prop Firm maintains a significant presence on various social media platforms:

• On Instagram, they boast an impressive following of 50,300 followers.
• Their Twitter account boasts a respectable following of 4,116 followers.
• The Forex Prop Firm YouTube channel boasts 5,170 subscribers and features a library of 144 uploaded videos.

Moreover, they actively engage with their community through messaging platforms, with a Telegram channel boasting 6,354 members and a Discord channel hosting 10,278 members. These platforms serve as hubs for communication and support.

For those seeking information or assistance, Forex Prop Firm offers various support options. Their website features an FAQ section, which may contain answers to your queries.

The support team is easily reachable through their social media channels. Alternatively, you can directly contact them via email at [email protected].

A particularly convenient and responsive avenue for assistance is their live chat support, where you can send messages and promptly receive a reply. In case they are unavailable, you can expect a response within 24 hours via email.

For those seeking community-driven support and interaction, their Telegram and Discord channels are invaluable resources. Both channels provide access to the support team and the broader trading community, ensuring that you can find assistance for any queries or technical issues you may encounter.

What Makes Forex Prop Firm Unique? 

Forex Prop Firm provides traders with a comprehensive arsenal of tradable instruments, including forex pairs, commodities, indices, stocks, and cryptocurrencies. This diverse set of assets empowers traders to diversify their portfolios and seize various market opportunities.

Forex Prop Firm is far from your typical FTMO model, boasting unique features and advantages that make it an outstanding choice for your funded trading account.

To start, they offer the rare benefit of bi-monthly withdrawals, setting them apart from the competition. Moreover, their exceptional scaling opportunities allow traders to potentially grow their funded trading capital to over $10,000,000.

The firm’s trading rules are more accommodating than those of other companies. Traders can hold positions over weekends, use Expert Advisors (EAs), and engage in hedging—actions that often incur penalties with other prop firms. Additionally, their one-step funding account, a feature not commonly found elsewhere, significantly enhances the likelihood of traders’ success and expedites the capital acquisition process.

Unlike many other companies, Forex Prop Firm has more lenient rules that allow traders to keep positions over the weekends, use EAs, and hedge on their accounts without facing penalties. Adding to their appeal is their one-step funding account, a feature not commonly offered by other firms. This feature substantially increases the likelihood of traders’ success and accelerates the process of obtaining capital.

Forex Prop Firm stands out in the world of prop trading due to its four different funding programs:

• One-step evaluation
• Two-step evaluation
• No time limit, a two-step evaluation
• Instant funding

They also offer straightforward trading rules, allowing trading during news releases and holding positions overnight and on weekends. Traders are awarded a 10% profit split from their demo phases.

Comparatively, Forex Prop Firm’s one-step evaluation program requires the completion of a single phase before becoming eligible for payouts. The program sets a 10% profit target with maximum daily loss and drawdown limits of 4% and 6%, respectively. Unlike other leading prop firms, there are no specific minimum or maximum trading day requirements, providing flexibility for traders. However, a 5% profit is necessary before requesting a withdrawal.

On the other hand, the two-step evaluation program mandates the completion of two phases before payout eligibility. Phase one has an 8% profit target, while phase two requires a 5% profit, both with a 12% maximum drawdown rule. After reaching funded status, traders must adhere to a 5% maximum daily loss and a 10% maximum drawdown. Notably, there is no daily drawdown rule on their two-step evaluation programs, offering traders the freedom to focus solely on the maximum drawdown. The 5% profit requirement for withdrawals also applies here.

Forex Prop Firm Reviews: What Do Their Customers Say?

Trustpilot Reviews:

On Trustpilot, Forex Prop Firm has 4.5 stars out of 5 stars, and a total of 532 customers reviewed them there. They are a verified company on Trustpilot. The company is in an excellent state on this platform.

Negative customer reviews on Trustpilot:

#1. Samuel S Gabriel alleges that the individuals involved are engaging in fraudulent activities. He claims that despite completing phases 1 and 2 of his $25k evaluations, he has encountered issues with receiving a live trading account. Samuel advises against investing with them, asserting that they are unscrupulous individuals who will accept your money and allow you to pass evaluation phases 1 and 2, but ultimately fail to provide a live trading account. According to Samuel, he possesses evidence to support his claims.

#2. Enoch Yahweh reports an issue with the website’s speed and notes that he did not receive the expected discount code. He acknowledges the platform’s excellent performance with exceptionally fast order fills but expresses concern regarding the absence of customer service. This absence leads him to believe that there might be an intention to conceal certain aspects of the operation.

#3. Six Coin FX issues a cautionary note, advising others to exercise care and caution. He highlights a troubling scenario where, even after completing their trading challenge, there are instances where funding may not be provided. This unsettling experience has left him frustrated and wary of this prop firm.

Six Coin FX advises against placing undue trust in this particular prop firm and recommends thorough research before becoming involved with them. He emphasizes the importance of awareness, suggesting that some prop firms might not genuinely prioritize their traders’ best interests. Instead, they might prioritize their profits and potentially even encourage traders to incur losses for their financial gain. In light of this, he urges vigilance and the selection of trading partners with care and discretion.

#4. Baba Mobile unequivocally states that this company is an outright scam, without a shadow of a doubt. Despite completing the challenge within the stipulated rules, they were denied an account with the explanation that they had taken excessive trades. Baba Mobile issues a strong warning to be vigilant about such scam prop firms that appear to offer discounts but are focused on exploiting and deceiving individuals. In their view, these firms are nothing more than financial opportunists and thieves. As a result, they strongly advise against purchasing any challenge from them.

#5. Samuel Bishop makes a strong and critical statement about Forexpropfirm.com, labeling it as a substantial fraud. He recounts a situation where he had accumulated an impressive 80% profit, but his account was abruptly closed due to the time limit associated with the two-phase evaluation. Samuel underscores the complete absence of extensions or communication from the firm during this process. In his view, this firm falls into the same category as other scams like myforexfunds.com.

He expresses profound frustration by pointing out that he was on the brink of securing $2,000 with a current profit of $1,939, only to be informed about a 35-day time limit that led to the termination of his account. Samuel sees this as a harsh and unforgiving decision and believes that Forexpropfirm.com’s intentions are geared toward causing traders to fail. As a final word of caution, he strongly advises others to run away from this alleged scam.

Positive customer reviews on Trustpilot:

#1. Medj shares his experience, mentioning some initial concerns related to Wise/Wire. However, he goes on to highlight a positive turn of events. He received an email request for his BTC wallet address, and to his delight, the very next day, the funds were seamlessly transferred to his Coinbase account. This experience left him thoroughly impressed, underscoring the importance of transparency in the operations of this prop trading firm. With his experience in mind, Medj enthusiastically offers a wholehearted recommendation to fellow traders, expressing his full confidence in this Forex Prop Firm.

#2. Darren Fox, a newcomer to this company, expresses his initial impressions, and they are nothing short of positive. In his first encounter with the firm, he found the experience to be truly remarkable. He appreciates the fact that the firm offers a genuinely fair opportunity to overcome challenges, thanks to the absence of daily drawdown restrictions.

Elaborating further, Darren shares that he successfully cleared the second phase of the evaluation, securing a funded account with $50,000. This achievement has left him enthusiastic about the future, and he eagerly anticipates continuing his journey with Forex Prop Firm.

#3. Fabio Turibio reports his recent funding success with Forex Pro Firm, and his experience with the firm has been outstanding. He cites several notable aspects that contribute to his positive view:

• Prompt and responsive customer support.
• A commitment to transparency in their operations.
• Accessible and reasonably priced trading challenges.
• Favorable trading conditions that enhance his trading experience.

Fabio Turibio’s feedback underscores his satisfaction with the Forex Prop Firm.

#4. Dhruv Patel, with three years of experience trading with prop firm funds, confidently asserts that Forex Pro Firm stands out as the ultimate choice. In his honest opinion, while many other prop firms may seem inclined towards their traders’ failure, Forex Pro Firm is a notable exception. He believes that this firm genuinely prioritizes the success of its traders and is fully committed to supporting them. In Dhruv’s view, Forex Pro Firm is unwaveringly dedicated to its trading community.

#5. Kailash Patel shares a positive experience during phases 1 and 12. He highlights the effectiveness of the daily drawdown policy, emphasizing how it complements their trading strategy and significantly contributes to their journey toward obtaining funding.

Wrapping It Up:

In summary, Forex Prop Firm provides a unique and promising platform for proprietary traders. Offering diverse funding options, strong customer reviews, exceptional support, and generous profit sharing, the firm places a strong focus on trader success. Collaborating with the reputable ASIC-regulated Eightcap broker further enhances its reliability.

While it’s a relatively new establishment with occasional sales interruptions, Forex Prop Firm stands out with its clear and fair rules, high-profit share, potential for significant funding, and flexibility in funding programs. Its commitment to transparency and customer support adds to its appeal.

Despite some negative feedback, the firm’s positive Trustpilot rating and successful trader experiences emphasize its dedication to trader growth and success.