The Cheapest Prop Firms in 2024 | Fortunly (2024)

• Diverse account options
• Immediate fund availability
• Extensive array of trading resources
• Regular monthly income possible
• Incentive rewards
• Industry-leading rapid scaling program
• No time limits on all programs

Founded in 2016 by Gil Ben Hur, The 5%Ers has experienced significant growth by cultivating a community of traders who manage external investors' capital. Over time, it has evolved into a platform for knowledge exchange and the sharing of successful trading strategies.

Trading Offerings:
At present, The 5%Ers is a prominent online proprietary trading firm that specializes in forex trading. However, its offerings extend beyond forex to include cryptocurrencies, stocks, and precious metals. Notably, the platform features a range of key forex trading pairs, including EUR/USD, GBP/USD, USD/JPY, USD/CAD, AUD/USD, NZD/USD, and USD/CHF.

Challenges and Opportunities:
The platform offers various challenges designed to provide enhanced opportunities for traders who successfully complete them. Completion of these challenges grants traders access to superior accounts, all without incurring additional charges.

Bootcamp Program:
The Bootcamp program, a central feature of The 5%Ers, allows traders to progress through three distinct challenge phases. Successful completion of these phases results in access to a six-figure trading account, with the highest-tier account sizes being able to keep 100% of earned profits.

Hyper Growth Program:
The Hyper Growth program incentivizes traders with bonuses based on their performance. This program involves doubling one's account with each target reached, with the added benefit of being able to withdraw their share after the program's initial phase.

High-Stakes Program:
Most recently, The 5%Ers launched their new High-Stakes program. This program presents an enticing opportunity for traders, offering the potential to earn a monthly salary of $10,000. Notably, it boasts the highest available leverage and an industry-low entry price of just $39, making it an attractive prospect for traders seeking substantial opportunities.

The 5%Ers stands out as a rapidly expanding forex proprietary trading firm, offering abundant prospects for traders on a global scale. It is overseen by seasoned traders dedicated to granting aspiring candidates access to capital funds and the potential to start earning.

Having been in operation since 2016, the company has garnered significant approval and positive feedback from its user community. As of the writing of this review, it boasts an impressive Trustpilot rating of 4.8, reflecting the trust and satisfaction of its users.

• Trading in futures
• Guidance through digital coaching
• Access to futures with a buying power of up to $150,000

Topstep is renowned as a top-tier proprietary trading firm specializing in futures trading. It caters to traders with varying experience, from seasoned professionals to newcomers, with a primary focus on nurturing sound trading practices. The firm prides itself on its support team, comprising industry experts dedicated to helping traders achieve their financial goals.

Diverse Account Options:

Topstep's platform is designed to serve a diverse audience of full-time traders and enthusiasts, offering a range of futures trading accounts. These accounts provide traders with the flexibility to choose their preferred buying power, with options ranging from $50,000 to $150,000. Each account comes with distinct profit targets, maximum drawdowns, and loss limits. For instance, the smallest account starts with a daily loss limit of $2,000, while the $150k account has a limit of $4,500. It's important to note that an evaluation process is mandatory to attain a live trading account with Topstep, and the company does not offer a refundable registration fee.

Support for Beginners:

Topstep excels in providing valuable resources and support for beginners in the world of proprietary trading. The Group Coaching program, led by seasoned traders, offers a structured learning experience for those looking to refine their trading skills and enhance their individual performance. Additionally, the platform offers Digital Coaching, a real-time trading guide designed to assist traders in crafting effective trading plans and accelerating their progress toward achieving their trading goals.

• Traders can keep up to 90% of their profits
• Initial capital provided is $15,000
• No monthly fees to worry about

Fidelcrest has earned its place among great proprietary trading firms due to its dedicated approach to identifying and nurturing talented traders. It's important to clarify that Fidelcrest does not operate as a broker or offer retail broker accounts. It functions as a proprietary trading firm actively seeking skilled traders who are prepared to engage in trading a diverse range of assets, including forex, commodities, precious metals, and cryptocurrencies.

Available Instruments:
Fidelcrest provides access to over 175 instruments, complete with commissions and spreads optimized for proprietary trading. These assets are available on both the MT4 and MT5 trading platforms.

Evaluation Program:
Becoming a Fidelcrest trader involves successfully completing a two-phase evaluation program. You have the option to choose between two distinct trading programs: Micro Trader and Pro Trader.

Micro Trader Program: Traders can operate with an account balance ranging from $15,000 to $60,000 within a 60-day evaluation period. Participants receive 80% of the profit share, with maximum allowable losses set at 10% and a maximum daily loss limit of 5%. An alternative option is the Micro Aggressive Swing account, which features increased profit targets of 15% for both phases of the evaluation process.

Pro Trader Program: Experienced traders can engage with account balances ranging from $250,000 to $1,000,000, maintaining a maximum allowable loss of 10% (or 20% with the aggressive account option). Profit sharing in this program stands at 80%, with the potential to reach 90% with the aggressive account.

Participation Fee and Refunds:
Regardless of the chosen program, successful completion of the evaluation and payment of the participation fee is mandatory. Fidelcrest ensures a refund of the fee to your bonus wallet, and no additional monthly or ongoing fees are imposed.

• Profit-sharing ratio of 90:10
• Complimentary mobile application
• Unlimited trading duration

FTMO is a prop firm that offers a whopping $400,000 of trading capital to its legitimate traders. To become an FTMO trader, you need to complete a two-step evaluation process.

The first step is the FTMO Challenge, during which the company checks your trading skills. The second and final step is Verification after which you become an official trader at FTMO.

For less experienced traders, FTMO offers video tutorials to help them learn how to use the platform and get familiar with forex trading. Additionally, all traders can participate in webinars where they can learn about advanced trading strategies from their experienced counterparts.

FTMO is one of the best forex prop trading firms thanks to the 9:1 payout ratio, which translates into traders receiving 90% of the profits. Once you pass the evaluation stage and set up your FTMO Account, your trading period is indefinite, and there are no profit targets.

Furthermore, traders get access to the most popular retail trading platforms, including MT4, MT5, and cTrader. You can trade a wide range of proprietary assets - hundreds of forex pairs, metals, equities, and crypto. Payment options include bank transfers, debit/credit cards, Skrill, Nuvei, and PayU.

FTMO also offers a free trial account. This is a great way to get a better sense of what this proprietary trading firm has to offer before signing up for an official proprietary account and paying fees.

• Immediate 15% profit share
• Dedicated account manager assigned to each trader
• Flexible trading guidelines

At FundedNext, traders have the opportunity to access up to $200,000 in capital by selecting the largest Evaluation package. The firm engages in Forex, indices, and commodities trading, allowing traders to secure a 15% profit right from the start, even during the evaluation period, irrespective of the chosen model.

FundedNext offers an express evaluation model that eliminates time constraints, setting a profit objective instead. Achieving this target enables traders to begin with a 60% profit share, which has the potential to increase to 90%. FundedNext accommodates various trading approaches, including intraday and swing trading, scalping, among others. As long as traders maintain a growth rate above 25% and keep their total losses below 10% of their trading capital, they are poised for advancement with FundedNext.

A standout feature that positions FundedNext as a premier choice among forex, indices, and commodities prop firms is the addition of a Dedicated Account Manager for every trader. Consistently positive performance is rewarded with a scale-up strategy, offering a 40% increase in account balance every four months, with a maximum limit of $4 million.

Starting your trading journey with FundedNext is straightforward and involves three simple steps: selecting a funding model, maintaining profitability, and receiving funding. For added convenience on the move, the FundedNext mobile app is available for both iOS and Android devices. Support is readily available through live chat, email, an FAQ section, educational blog posts, and community engagement on Discord, Telegram, and Facebook.