Best Proprietary Trading Firms for Beginners 2024 (2024)

Best Proprietary Trading Firms for Beginners 2024 (1)

Written By

Jeremy Biberdorf

Updated

Mar 20, 2024

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The world of proprietary trading is both exciting and rewarding. But, for beginners, diving into this sphere can be daunting. Proprietary trading firms provide traders with capital to trade financial markets – allowing them to earn a share of the profits without risking their own money.

In this article, we're going to explore some of the best proprietary trading firms tailored for beginners. We'll delve into what each firm offers, their benefits, and more.

While many proprietary firms exist, not all are created equal, especially when considering those new to the industry. To guide you on the right path, we've narrowed down the top choices suitable for newcomers.

Best Proprietary Trading Firms for Beginners 2024 (2)

Quick Breakdown

Best Proprietary Trading Firms

  • Topstep

    Best overall, especially for traders seeking a well-established platform.

  • Elite Trader Funding

    Best for those valuing a range of market options.

  • Apex Trader Funding

    Perfect for traders seeking simple evaluation processes.

  • Fidelcrest

    Tailored for traders aiming for flexible trading styles.

  • Earn2Trade

    Ideal for those focusing on personalized trading strategies.

  • City Traders Imperium

    Best for forex enthusiasts looking for rigorous challenges.

Best Proprietary Trading Firms for Beginners in 2024

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Topstep

4.6 stars

Trading Platforms MetaTrader, Ninja

Cost From $165/month

Best For Established Platform

Benefits

Overview

Company

  • Established platform.
  • Wide range of markets.
  • Comprehensive training materials.
  • Transparent fee structure.
  • User-friendly interface.
  • Supports multiple trading platforms.
  • Vibrant and supportive community.
  • Quick and responsive customer support.
  • Promo: Save 20% via our link today

Topstep, widely recognized in the prop trading space, stands out as an exceptional platform for both newcomers and seasoned traders. Established to bridge the gap between the vast financial markets and individual traders, Topstep offers a two-step evaluation process that determines the trading skills and adaptability of its applicants.

Within the structured evaluation phase, Topstep uses a trading combine - a unique simulation environment, to offer traders a genuine feel of market conditions. This approach not only tests a trader's knowledge but also their resilience and adaptability to volatile market scenarios.

Moreover, with its focus on futures trading, the firm is committed to ensuring its traders possess a solid understanding of the financial markets they delve into.

Once traders successfully navigate the evaluation period, they are granted access to Topstep's substantial trading capital. This allows them to confidently operate within the financial markets, equipped with both knowledge and the necessary resources.

Topstep's journey has been one of constant growth and evolution. Their foundational mission emphasizes the importance of nurturing and elevating traders to achieve their maximum potential. Over the years, this mission has seen them fund thousands of traders, further solidifying their esteemed position within the prop trading community.

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Elite Trader Funding

4.5 stars

Trading Platforms ThinkorSwim, Etrade

Cost Varies

Best For Multiple Markets

Benefits

Overview

Company

  • Quick funding process.
  • Access to a variety of markets.
  • Competitive profit splits.
  • Lucid trading rules and requirements.
  • Regular webinars and tutorials.
  • Direct access to trading platforms.
  • No hidden fees.
  • Encourages traders' autonomy.
  • Promo: Coupon Code ETF4EVER for 65% off

Elite Trader Funding, with its quick funding process, offers traders a seamless journey from the evaluation stage to live trading. The company's structured yet lucid trading rules make it relatively easier for beginners to grasp the intricacies of prop trading.

By focusing on keeping requirements straightforward, Elite Trader Funding ensures traders can focus more on refining their trading strategies than deciphering complicated stipulations.

With direct access to several trading platforms, traders are offered a chance to operate in an environment they're comfortable with. Moreover, the company's competitive profit splits ensure that traders are adequately rewarded for their skill and consistency.

The regular webinars and tutorials provided are an added advantage, allowing traders to continuously upgrade their knowledge and stay updated with market trends.

Since its inception, Elite Trader Funding has been at the forefront of simplifying the prop trading landscape. They have always been about empowering traders, ensuring they are equipped with the tools, capital, and knowledge to succeed. The company's dedication to transparency and trader growth has allowed it to carve a significant niche in the prop trading world.

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Apex Trader Funding

4.5 stars

Trading Platforms Etrade, MetaTrader

Cost Varies

Best For Simple Evaluations

Benefits

Overview

Company

  • Multifaceted evaluation process.
  • Offers a wide range of contracts.
  • Generous profit-sharing model.
  • Detailed feedback during evaluation.
  • Emphasis on risk management.
  • Support for multiple trading platforms.
  • Consistent trader support.
  • Flexible trading hours.
  • Promo: Coupon Code FXJEPTUV for 50% off

Apex Trader Funding, another stalwart in the prop trading world, prides itself on its multifaceted evaluation process. This process is designed to comprehensively assess both a trader's skillset and their understanding of risk management, a critical component in the trading world. By laying a strong emphasis on these two facets, Apex ensures that its traders are both skilled and prudent.

Traders at Apex are offered a wide range of contracts, allowing them to operate in markets they're most familiar with. The company's generous profit-sharing model ensures that traders are incentivized to perform consistently and achieve the best results. Furthermore, the detailed feedback traders receive during the evaluation phase serves as a crucial tool for improvement, enabling them to refine their strategies and iron out any prevalent issues.

Apex Trader Funding's journey has always been about achieving excellence in the prop trading space. By emphasizing both skill and prudence, the company has ensured that its traders are not just successful, but also sustainable in their endeavors. This twin focus has led Apex Trader Funding to be recognized as a trusted name among beginner and seasoned traders alike.

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Fidelcrest

Trading Platforms Ninja, ThinkorSwim

Cost €99 - €5,998 (with add-ons)

Best For Flexible Styles

Benefits

Overview

Company

  • Pioneers in micro and macro trading.
  • Advanced trading tools and software.
  • Competitive profit-sharing schemes.
  • Support across multiple asset classes.
  • Comprehensive evaluation phase.
  • Access to experienced mentors.
  • No hidden or recurring fees.
  • Encourages continuous trader development.
  • Promo: Coupon Code MM-15 for 15% off

Fidelcrest stands out in the prop trading world, especially for its pioneering efforts in both micro and macro trading. The platform is specifically designed to cater to both beginners looking for smaller trade opportunities and seasoned traders aiming for bigger financial markets. This flexibility ensures that traders of all experience levels find a comfortable trading environment.

One of the standout features of Fidelcrest is its suite of advanced trading tools and software. These tools, combined with their comprehensive evaluation phase, ensure traders are well-equipped to handle real trading scenarios. Their profit-sharing schemes are among the best in the industry, motivating traders to achieve and maintain consistent profitability. Fidelcrest's support across multiple asset classes further opens the door for varied trading strategies, catering to diverse trading styles.

Fidelcrest has consistently worked towards offering unparalleled trading opportunities to its community. The company believes in the potential of every trader and is dedicated to providing them with the necessary resources, knowledge, and support. Over the years, Fidelcrest's reputation has grown, solidifying its position as a top choice for those venturing into proprietary trading.

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Earn2Trade

4.5 stars

Trading Platforms RTrader, Ninja

Cost Best For

Benefits

Overview

Company

  • Tailored educational content.
  • Emphasis on personalized trading strategies.
  • Transparent evaluation metrics.
  • Access to expert advisors.
  • A diverse range of trading platforms.
  • Regular updates on market conditions.
  • Dedicated customer service.
  • Flexible evaluation periods.
  • Promo: Coupon Code modestmoney for 20% off

Earn2Trade is distinguished by its commitment to personalized trading education and mentorship. Recognizing that every trader's journey is unique, they emphasize the development of individualized trading strategies tailored to each trader's strengths and preferences.

The firm's evaluation process, designed to assess a trader's skillset and strategic approach, offers a comprehensive insight into trading activities and potential areas of improvement. This individual-centric evaluation ensures that traders aren't just evaluated on raw numbers but on the efficacy and consistency of their trading strategies.

Moreover, the evaluation phase at Earn2Trade goes beyond just assessing the trading prowess. It equips traders with insights, tools, and resources to refine their strategies. By placing an emphasis on consistent profitability, Earn2Trade ensures that its traders are well-prepared to tackle real-time trading scenarios with confidence and expertise.

Since its founding in 2017, Earn2Trade has consistently championed the importance of individualized trader development. Their vision revolves around the belief that every trader, with the right tools and guidance, can achieve consistent profitability. This ethos has made them a sought-after prop trading firm, respected by both beginners and professional traders alike.

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City Traders Imperium

4.3 stars

Trading Platforms MetaTrader 4/5

Cost £109 to £3,099 per program

Best For Forex Challenges

Benefits

Overview

Company

  • Robust evaluation system.
  • High emphasis on trader education.
  • Multiple trading accounts available.
  • Access to global financial markets.
  • Competitive commission structure.
  • Regular feedback and support.
  • Emphasis on real-time trading skills.
  • Strong risk management policies.
  • Promo: Coupon Code CTI10% for 10% off

City Traders Imperium, commonly referred to as CTI, is known for its robust evaluation system. This system is meticulously designed to ensure traders are thoroughly vetted, guaranteeing they possess the necessary skills and knowledge for real-time trading scenarios. CTI places a high emphasis on trader education, providing ample resources and platforms for continuous learning and development.

Another area where CTI shines is its offering of multiple trading accounts, allowing traders to pick one that best aligns with their trading style and goals. Access to global financial markets means traders can explore diverse trading strategies, and the competitive commission structure ensures they earn optimally. The regular feedback and strong emphasis on risk management further ensure traders are always on the right path.

City Traders Imperium started its operations with a primary focus on shaping the future of the trading world. CTI has always emphasized providing quality resources, mentorship, and opportunities to its trading community. Their commitment to fostering a culture of continuous learning and emphasis on real trading skills has made them a favorite among beginners and professionals alike.

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>More Prop Trading Firms

Frequently Asked Questions

What is proprietary trading?

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Proprietary trading, often shortened to "prop trading," refers to financial firms or banks trading stocks, bonds, currencies, or other financial instruments with their own money, rather than using clients' money. This allows the firm to earn full profits from a trade rather than just the commission it receives from transaction-based trading. However, it also means they bear the full risk of any losses.

Why join a prop trading firm as a beginner?

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For beginners, prop trading firms provide an excellent platform to start. They offer access to significant capital, eliminating the need for a hefty personal investment. These firms often provide valuable education, mentorship, and real-world experience, allowing novice traders to learn the ropes without excessive personal financial risk.

How does the evaluation phase work?

+

The evaluation phase in most prop firms assesses a trader's ability to generate profits while adhering to the firm's risk management rules. Traders are given a demo or simulated account with a predefined balance and must achieve certain profit targets without breaching loss limits. Successful completion often leads to a funded trading account.

What's the difference between retail brokers and prop firms?

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Retail brokers offer trading services to individual traders, typically charging fees or spreads for their services. In contrast, prop firms provide traders with capital to trade, expecting them to adhere to specific trading rules and often sharing in the profits.

Are there any upfront costs in prop trading firms?

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Yes, many prop trading firms require a one-time fee to enter their evaluation program. This fee covers the risk they take and the resources they provide during the evaluation period. However, each firm has its own fee structure and offerings.

Is Forex trading available in all prop firms?

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While many prop firms cater to Forex traders, not all of them do. It's essential to research each firm's available markets before joining, especially if you have a particular interest in Forex or other specific financial markets.

What's meant by "profit share" in prop trading?

+

Profit share refers to the percentage of profits traders receive from their trades. For example, an 80% profit share means that if a trader earns $1000, they would keep $800, with the remaining $200 going to the prop firm.

Can I use my own trading strategies?

+

Absolutely. Prop firms generally encourage traders to use strategies they're comfortable with. However, while the trading style is up to the individual, adhering to the firm's risk management rules is mandatory.

Is there a maximum time limit for the evaluation stage?

+

Most prop firms do set a time limit for traders to complete their evaluation phase. The duration varies across firms, so it's advisable to check the specific terms before starting the evaluation.

Do all prop firms provide access to the same trading platforms?

+

No. Different prop firms might provide access to various trading platforms. It's crucial to check if a firm offers a platform you're familiar with or are interested in using.

What happens if I breach a rule during the evaluation?

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Breaching a rule typically results in failing the evaluation. Some firms might offer a second chance or a reset option for an additional fee, while others might require traders to restart the evaluation process entirely.

How important is risk management in prop trading?

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Risk management is paramount in prop trading. Firms provide capital to traders, so ensuring that this capital isn't unduly risked is crucial. Adhering to risk management rules is often a significant part of the evaluation process.

Can I trade news events with prop firms?

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This depends on the firm. Some prop trading firms have strict rules against news trading due to the volatility and high risk involved, while others might allow it with certain limitations.

Is there any training provided by prop firms?

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Many prop firms offer educational resources, training modules, and mentorship programs. They aim to help traders hone their skills and achieve consistent profitability. However, the extent and quality of training can vary among firms.

What's the advantage of instant funding prop firms?

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Instant funding prop firms provide successful traders immediate access to a funded account without prolonged waiting periods. This allows traders to capitalize on their strategies and market conditions without unnecessary delays.

Best Proprietary Trading Firms for Beginners 2024 (2024)
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