In this article I’m gonna explain what are the top five best forex prop firms for right now. And unlike a lot of other YouTubers reviewing this topic, I’m gonna do it in a completely unbiased way. I don’t have any affiliate links and the reason why you should listen to us is because we’ve literally helped hundreds and hundreds of people pass prop firm challenges and become successful full-time forex traders using prop firms.
So we’ve used a whole bunch of different prop firms and seen the good, the bad and the ugly. As you know, forex prop firms are exploding and there’s new and new prop firms popping on the market every single day.
However, there’ are a lot of scams. So the purpose of this article is to save you from these scams, tell you what to look for, and give you my top five forex prop firms for right now. So let’s go ahead and let’s dive into it starting with number 5.
#5 E8 Funding
Number five is a prop firm called E8 Funding. They offer a 35k, 50k, 100k and 250k account size. To pass phase one of their challenge, you only have to do 8% profit. In order to pass phase two, you have to do a 5% profit target.
Their max loss overall is 8%, which is a little bit tight, and then 5% max daily loss, which is again pretty standard throughout the prop firm industry. Now the reason why I actually do like E8 Funding is because they have only one minimum trading day.
A lot of our members inside of our Discord group, they’re able to pass prop firm challenges in just a few days. So it’s really nice not having to do 5 or 10 minimum trading days in order to move on to the next stage and actually advance your evaluation process.
They do offer an 80:20 profit split. You can hold trades over the weekend and trade through the news. And they do pay out biweekly, meaning you’re gonna get paid out multiple times per week. Meaning you’re gonna get paid out multiple times per month.
Now, their 100K account fee is about $588. They do allow EAs. Amongst the ones that we’re going to talk about, this is the most expensive amongst them. But this is a really great prop firm we’ve had a lot of success with.
Many members have gotten payouts from E8 already. Their website is very clean and one of the things that they do offer is they do offer live support here, which is really helpful as well. Again, all in all, I’d say the main thing that I really like about this is the low amount of minimum trading days.
#4 First Class Forex Funds
The number four prop firm is probably the newest of the list is called First Class Forex Funds. They’ve been only around for about four to five months for the time of writing this article. But they do offer 25k, 50k, 100k, 200k and 500k account challenges.
Their phase one target for profits is 8% and their phase two for profit target is 5%. They do allow a 12% max overall drawdown, which is the highest amongst the ones that we’re going to talk about, and a 5% max daily loss.
So I would say that the challenge requirements are quite easy to pass. Again, all of these that we’re talking about have 1:100 leverage. They do have a five minimum trading days, which is pretty normal in the prop firm industry.
You can hold trades over the weekend, you can also hold trades through news. The way that their profit split works is the first profit split you get is 75:25. Then you get 80:20 and then you get 85:15.
Now also one of the drawbacks, I would say with First class forex funds is that your first profit split is only monthly. And from your second one, then you start to get paid out biweekly or two times per month.
So I would say that’s one of the drawbacks of First Class forex funds. Now another advantage is the pricing is pretty cheap. It’s only $525 for their 100K challenge.
The thing that I do like about their support is it’s all inside discord. So you can chat with other members, you can chat with their support team, you can see payout proof all inside of discord, which has been actually quite helpful.
Number three on the list is the big daddy in the industry, FTMO. They’ve probably been around as long as any of these, actually longer than any of these. And they probably have more funded traders than any other prop firm.
They offer 10k, 25k, 50k, 100k and 200k. But I would say this is probably the hardest prop firm to pass of the bunch. You have to do 10% profit target in phase one, 5% profit target in phase two, and you have a 10% and 5% max loss and max daily loss, respectively.
Now, one of the things that I do really like about FTMO is that FTMO does have fantastic live chat support. I think pretty much 24/7 in. They’re also probably the most reputable solid prop firms. So if you’re worried about prop firms not paying you out or cheating you or anything like that, then I’d say FTMO is probably the one to go with.
However, it is a little bit more difficult in order to pass. You do get an 80:20 profit split and you do get paid out bi-weekly. Their challenge fee is about $540. So I’d say with FTMO, it’s going to be a little bit more expensive, a little bit harder to pass, but you can rest assured knowing that you’re working with probably the gold standard in this forex prop firm industry.
#2 True Forex Fund
Moving on to number two is a prop firm called True Forex Funds. Now True Forex Funds, we’ve probably had more members get passed and get payouts with True Forex Funds than maybe any other prop firm.
They offer 10k, 25, 50k, 100k and 200k account size, relatively simple to pass, 8% Phase One, 5% Phase Two. Your max loss is 10%, your max daily loss is 5%. And I really loved True Forex Funds because they used to have a zero minimum trading days, which was really, really nice.
They just recently implemented a five minimum trading days before you can move on to the second phase of the challenge. So that’s one minor setback but still kind of industry average across the board, everything pretty much the same.
They are relatively cheap, only €499, which is about $499, payouts are bi-weekly. True Forex Funds I really like, again, their whole process is really smooth from getting started to getting the next phase to actually getting the funded account to getting payouts.
Everything is really smooth. Their website is very clean. They do offer live support here, which has been really helpful as well. So true forex funds rock solid. Have loved using true forex funds. And again, this is one that we’ve probably had more payouts than anybody.
#1 My Forex Funds
Moving on to number one. Number one is currently My Forex Funds. They offer a wide array of different account sizes: 5k, 10k, 20k, 50k, 100k, 200k and 300k. They’re relatively easy, maybe the easiest prop firm to pass.
8% Phase One Profit Target, 5% Phase Two Profit Target, max loss is 12%, max daily loss, 5%, minimum trading days, 5 minimum trading days. And they do offer a 75:25 profit split at first, then they do offer an 80:20 profit split on your next payout.
You do get paid out bi-weekly and their fees are cheapest, along with True forex funds at only $499. Now, I’d say one thing that separates them from the pack, maybe just a little bit, is that you can actually earn from your phase one and phase two, so you can get 2% of your trading profits by passing phase one and 4% of your trading profits by pass phase two.
So you get paid on your journey to become a funded forex trader. So this is something that I think nobody else is really doing, or not that I’m aware of anybody else is doing. And they also offer 112% refund, meaning that when you get your first profit split, you don’t just get the challenge fee refunded, but you actually get 112% of the balance.
So 500 times 112%, whatever that math ends up being, that’s what you actually get refunded.