With the growing interest in forex trading, many individuals are seeking prop firms to provide them with the necessary tools and funding for successful trading. One notable prop trading firm in the market is FTMO. In this article, we will compare FTMO with other top prop trading firms, analyzing factors such as funding size, profit split, minimum deposit, evaluation process, history, reputation, and fees.
Key Takeaways:
- Compare FTMO with other top prop trading firms to make an informed decision.
- Consider factors such as funding size, profit split, minimum deposit, evaluation process, history, reputation, and fees.
- FTMO offers funding up to $100,000 with a profit split of 70/30.
- Other prop trading firms may have different funding sizes, profit splits, and evaluation processes, so research is crucial.
- Evaluate the history, reputation, and fee structure of prop trading firms to find the best fit for your trading goals.
Funding Size and Profit Split Comparison
When comparing forex prop firms, two crucial factors to consider are funding size and profit split. These factors play a significant role in determining the potential growth and financial rewards offered by each firm.
Let’s examine how FTMO, The5%ers, and MyForexFunds stack up in terms of funding size and profit split:
| Prop Firm | Funding Size | Profit Split |
|---|---|---|
| FTMO | Up to $100,000 | 70/30 |
| The5%ers | Up to $500,000 | 80/20 |
| MyForexFunds | Up to $2 million | 60/40 |
FTMO offers funding up to $100,000 with a profit split of 70/30, meaning traders receive 70% of the profits generated while the firm takes a 30% share. On the other hand, The5%ers provides funding up to $500,000 with an 80/20 profit split. Lastly, MyForexFunds offers the highest funding size among the three firms, with traders gaining access to up to $2 million, albeit with a profit split of 60/40.
Selecting the right prop firm involves aligning your trading goals and financial objectives with the funding size and profit split offered. Traders seeking higher funding sizes may lean towards The5%ers or MyForexFunds, while those prioritizing a higher profit split may find FTMO’s offering more attractive.
Continue reading to discover further comparisons related to minimum deposit and evaluation processes in our next section.
Minimum Deposit and Evaluation Process Comparison
In addition to funding size and profit split, the minimum deposit and evaluation process are key factors to consider when comparing prop trading firms. It is crucial to understand the evaluation process and requirements of each firm before making a decision.
FTMO
Minimum Deposit: $150
Evaluation Process:
- Written Test
- Live Trading Test
The5%ers
Minimum Deposit: $1,000
Evaluation Process:
- Demo Account Challenge
- Live Trading Challenge
MyForexFunds
Minimum Deposit: $5,000
Evaluation Process:
Performance-based contract
Performance targets
History, Reputation, and Fees
When considering prop trading firms, it is essential to evaluate their history, reputation, and fee structure. One prominent firm in the industry is FTMO, which was founded in 2015. Over the years, FTMO has established a strong reputation built on its focus on risk management and structured trading plans.
As for fees, FTMO charges a one-time fee of $155 for their Challenge, which is the initial evaluation stage. If a trader successfully passes the Challenge, they move on to the Verification stage, which incurs a fee of $165. These fees cover the costs of evaluation and support provided by the firm throughout the trading journey.
However, FTMO is not the only prop trading firm available. Other well-known companies such as Topstep, Funded Trading Plus, Fidelcrest, Surgetrader, Funded Next, The 5ers, and LuxTradingFirm also have their unique histories, reputations, and fee structures. To make an informed decision, it is crucial to research and compare these factors to find the prop firm that aligns best with your specific trading goals and preferences.
