When it comes to trading in the financial markets, having access to a reliable and reputable prop firm can greatly enhance a trader's opportunities and resources. In India, there are several prop firms that offer trading platforms, capital, and support to traders. However, determining which prop firm is the best in India depends on various factors such as trading conditions, technology infrastructure, risk management, and overall reputation.
Which prop firm is the best in India?
FTMO is a prop firm that provides funding and training to traders worldwide. It was founded in 2015 by two experienced traders, Otakar Suffner and Marek Chrastina. The firm aims to help traders achieve financial independence by providing them with the necessary tools, guidance, and capital to trade successfully.
How Does FTMO Work?
FTMO offers a challenge program where traders have to pass a series of tests to prove their trading skills. Once they pass the challenge, they are given a funded account to trade with. Traders can choose from three different account sizes - $10,000, $25,000, or $50,000. The firm also offers a risk-free trial where traders can test their skills without risking any capital.
Traders who successfully complete the challenge and meet the profit targets set by FTMO can withdraw a portion of their profits every month. They also receive 70% of the profits made on the account, while the remaining 30% goes to FTMO. This model ensures that both the trader and the firm have a vested interest in the success of the trading account.
Why Choose FTMO?
There are several reasons why traders may choose FTMO over other prop firms in India. Let's take a closer look at some of these factors.
Funding and Leverage
One of the main reasons traders choose prop firms is for the funding and leverage they provide. FTMO offers competitive account sizes and leverage ratios, making it an attractive option for traders looking to trade with a larger capital base.
Risk Management
FTMO has a strict risk management policy in place to protect both the firm and the traders. Traders are required to follow specific risk parameters, such as maximum daily loss and maximum drawdown, to ensure responsible trading. This not only protects the firm's capital but also helps traders develop good risk management habits.
Training and Support
FTMO provides traders with access to educational materials, webinars, and a community of traders to learn from and share ideas. They also have a team of experienced traders who offer guidance and support to traders throughout their journey.
FTMO vs Other Prop Firms in India
Now that we have looked at what FTMO has to offer, let's compare it to other prop firms in India.
Account Sizes and Leverage
One of the main differences between FTMO and other prop firms in India is the account sizes and leverage offered. While FTMO offers account sizes up to $50,000, most other prop firms in India have smaller account sizes ranging from $5,000 to $10,000. Additionally, FTMO offers a leverage ratio of 100:1, which is higher than most other prop firms.
Funding Process
Another significant difference between FTMO and other prop firms in India is the funding process. With FTMO, traders have to pass a challenge to receive a funded account, whereas other prop firms may require traders to deposit a certain amount of capital to receive a funded account.
Risk Management
FTMO's strict risk management policy sets it apart from other prop firms in India. While some prop firms may have similar risk parameters in place, FTMO's policy is more comprehensive and actively monitored.
Top 8 Best Forex Prop Firms in India
Funded Trading Plus
Funded Trading Plus is a well-known prop firm in India that offers funded trading accounts to traders. They have a unique approach where traders are required to pass a challenge before receiving a funded account. The challenge consists of two phases – the evaluation phase and the live trading phase. Traders need to show consistency and risk management skills during the evaluation phase to move on to the live trading phase. Once they successfully complete both phases, they receive a funded account with a profit split of 80/20.
Funded Trading Plus also offers various educational resources and support to their traders, making it an attractive option for new traders looking to gain experience and access to capital.
Topstep
Topstep is a US-based prop firm that has recently expanded its services to India. They offer a similar challenge-based approach where traders need to pass a simulated trading test to receive a funded account. The profit split at Topstep is 80/20, and they also provide traders with access to their proprietary trading platform.
One unique feature of Topstep is their “Trading Combine” program, where traders can choose from different account sizes and risk parameters to suit their trading style. They also offer a variety of educational resources and a supportive community for their traders.
SurgeTrader
SurgeTrader is another popular prop firm in India that offers funded accounts to traders. They have a straightforward evaluation process, where traders need to pass a simulated trading test to receive a funded account. The profit split at SurgeTrader is 70/30, with the potential to increase to 80/20 based on performance.
One advantage of SurgeTrader is their low-risk parameters, making it an attractive option for new traders who want to minimize their risk while gaining access to capital. They also offer various educational resources and a supportive community for their traders.
Funder Trading
Funder Trading is a prop firm based in Mumbai, India, that offers funded accounts to traders. They have a unique approach where traders are required to complete a training program before receiving a funded account. The training program covers various aspects of trading, including technical analysis, risk management, and psychology.
Once traders complete the training program, they receive a funded account with a profit split of 80/20. Funder Trading also offers ongoing support and mentorship to their traders, making it an attractive option for those looking for guidance in their trading journey.
Apex Trader Funding
Apex Trader Funding is a prop firm based in Bangalore, India, that offers funded accounts to traders. They have a straightforward evaluation process, where traders need to pass a simulated trading test to receive a funded account. The profit split at Apex Trader Funding is 70/30, with the potential to increase to 80/20 based on performance.
One unique feature of Apex Trader Funding is their “Risk-Free Trial” program, where traders can trade with a funded account for a week without any risk. This allows traders to get a feel for the platform and their trading style before committing to a funded account.
Top Tier Trader
Top Tier Trader is a prop firm based in Delhi, India, that offers funded accounts to traders. They have a unique approach where traders are required to complete a training program and pass a simulated trading test to receive a funded account. The profit split at Top Tier Trader is 80/20, with the potential to increase based on performance.
One advantage of Top Tier Trader is their low-risk parameters, making it an attractive option for new traders who want to minimize their risk while gaining access to capital. They also offer ongoing support and mentorship to their traders.
The 5ers
The 5ers is a US-based prop firm that has recently expanded its services to India. They offer a challenge-based approach where traders need to pass a simulated trading test to receive a funded account. The profit split at The 5ers is 50/50, with the potential to increase based on performance.
One unique feature of The 5ers is their “Risk-Free Trial” program, where traders can trade with a funded account for a week without any risk. They also offer various educational resources and a supportive community for their traders.
Trade the Pool
Trade the Pool is a prop firm based in Mumbai, India, that offers funded accounts to traders. They have a straightforward evaluation process, where traders need to pass a simulated trading test to receive a funded account. The profit split at Trade the Pool is 70/30, with the potential to increase to 80/20 based on performance.
One unique feature of Trade the Pool is their “Trading Challenge” program, where traders can compete against each other for a chance to win a fully funded account. They also offer various educational resources and a supportive community for their traders.
How Should I Choose A Prop Firm?
Now that we have discussed the top 8 best forex prop firms in India, you may be wondering how to choose the right one for your trading career. Here are some factors to consider when making your decision:
How Were These Prop Trading Firms Chosen And Rated?
The top 8 best forex prop firms in India were chosen based on their popularity, reputation, and services offered. They were also rated based on their evaluation process, profit split, educational resources, risk parameters, and support and mentorship.
How Much Is The Profit Split?
As mentioned earlier, the profit split varies among prop firms, with most offering a 70/30 or 80/20 split. However, some firms may offer a lower or higher split, so it is essential to research and compare before making a decision.
Advantages Of India Prop Firms
Disadvantages Of India Prop Firms
Conclusion
In conclusion, choosing the right prop firm is crucial for your trading career. Consider factors such as the evaluation process, profit split, educational resources, risk parameters, and support and mentorship before making your decision. It is also essential to research and compare different prop firms to find the best fit for your needs. With the right prop firm, you can access more capital, gain experience and knowledge, and potentially increase your profits as a trader.
