Choose The Best Prop Firm In Canada For Serious Traders - FundingTraders Blog (2024)

There are several key steps to choose the best prop firm in Canada for serious traders. Today, many national and global prop firms welcome serious, skilled, and profitable Canadian traders. These prop firms provide unique opportunities to trade with increased capital and make substantial profits. To choose the best prop firm in Canada, traders must analyze, compare, and evaluate a wide range of important factors.

As an aspiring Canada-based trader yourself, make an informed decision to scale your forex strategies with a reliable prop firm. Funding Traders accepts Canadian clients – while offering unique opportunities, including:

  • No Commission Challenge Accounts
  • Support For Weekend/Overnight Holding
  • EA/Bot Support For Canadian Traders
  • Fast 7-Day Payouts
  • Up To 100% Profit Splits

Read on to learn how to choose the best forex prop trading firm in Canada for serious traders.

Analyze The Funded Account Sizes

First, analyze available funded account sizes to select the best prop firm in Canada. Ideally, serious traders in Canada should choose a prop firm with significant capital resources – required to close larger positions.

Ultimately, the selected account size can significantly impact your trading journey, profits, and overall returns. As a reputed prop firm in Canada, Funding Traders offers multiple account sizes to accommodate unique trading strategies, risk tolerance, and experience, including:

  • Small Funded Accounts: Ideal for beginners with lower-risk strategies, these small accounts range between $10,000 to $50,000.
  • Medium Funded Accounts: Ranging between $50,000 to $200,000, these account sizes are ideal for serious traders skilled to balance risk and profits. Plus, the increased capital may help leverage multiple financial instruments.
  • Elite Funded Accounts: Confident traders with years of experience can sign up for our exclusive Elite programs to secure $1M funded accounts. Typically, these large account sizes are ideal for implementing high-return trading strategies.

Compare the available account sizes against your skills, risk management, and trading goals. Consider funded account sizes to choose a legitimate prop firm in Canada for serious traders.

Evaluate The Profit Split

Evaluate the profit split to select the best prop firm in Canada. When trading from Canada, many prop firms limit the profit split to 50%. Look for prop firms with a competitive profit split between 80-90%. Prop firms only offer these higher profit splits after you complete the evaluation and secure a funded account.

>With Funding Traders’ unique profit-sharing arrangements and exclusive add-ons, you can keep up to 100% of the profit you earn.

Indeed, choose a prop firm in Canada with a competitive profit split.

Review The Supported Trading Strategies

Now, review the supported strategies to find the best prop trading firm in Canada. Serious traders must focus on effective risk management tactics and strategies to increase earned profits. To promote a secure, competitive, and sustainable environment, Funding Traders accepts diverse risk management strategies. To protect your profits, the FT team also encourages traders to:

  • Place stop-loss orders to limit potential losses
  • Maintain a consistent risk per trade
  • Exercise caution to stay safe from high-risk events and news releases

>Serious traders can also leverage EAs/Bots to streamline their trading strategy. Consult with Funding Traders’ team to select an eligible Expert Advisor for your trading journey.

Certainly, serious traders must review supported trading strategies to select a top-rated prop firm in Canada.

Look For A Rewarding Scaling Plan

Evaluate the prop firm scaling plan to start funded forex trading in Canada. The best prop firms in Canada offer unique scaling plans to promote constant growth continuous improvement. Review the pre-defined profit targets, drawdown limits, and scaling milestones – required to gradually increase your account sizes.

In addition, you should also look at the percentage increase in your initial account size to find a trusted prop firm. Global prop firms like Funding Traders offer a competitive 25% increase in your initial account balance every three months.

Achieve consistent profits, manage risk strategically, and meet targets to qualify for quarterly account scaling:

  • Meet consistent profit milestones for three consecutive months
  • Achieve a total 10% profit in a quarter
  • Stay profitable for at least two months

> Upon meeting these objectives, you can scale your account balance – all the way up to $2M.

Of course, avoid rushing towards these profit targets to scale your capital. Instead, choose a prop firm that prioritizes consistent trades to help refine your strategies over time. Indeed, look for a prop firm in Canada with rewarding scaling plans.

Select Firms With A Dedicated Trader Community

Choose prop firms in Canada with a dedicated community of experienced, serious traders. Prop firm communities are active with skilled, consistent, and profitable traders – engaging in multiple financial markets. Your prop firm should provide a global community of traders working from multiple countries. This way, you can explore unique networking opportunities, cutting-edge technologies, and mentorship programs to execute more efficient trades.

Join Funding Traders global communities to stay up-to-date on the latest forex trends, news, and developments.

In these online communities, serious traders like you always share new strategies and insights based on real-time market data. These meaningful engagements may help generate substantial profits on your funded trading accounts. Indeed, select a Canadian prop firm with a dedicated community of serious traders.

Follow the comprehensive steps to choose the best prop firms in Canada. First, analyze the available account sizes to select an initial balance – best suited for your risk tolerance, trading strategies, and experience. Next, compare the profit splits to find a prop firm with a competitive payout – up to 100%.

Top-rated prop firms in Canada also reward traders with competitive scaling plans. Meet the profit objectives to scale your capital up to $2M. Finally, review the online trader’s communities to find the most reliable prop firm.

Serious about forex trading? Click here to join the best prop firm in Canada to start with a challenge account.

Choose The Best Prop Firm In Canada For Serious Traders - FundingTraders Blog (2024)

FAQs

Choose The Best Prop Firm In Canada For Serious Traders - FundingTraders Blog? ›

The top futures prop firms are TopStepTrader, Jane Street, FTMO, 3Red Partners and The Trading Pit. Jane Street and 3Red Partners are very secretive about their fees and profit splits but they do offer some of the best technology and high-frequency trading.

Which prop firm is the most reliable? ›

Best Prop Trading Firms 2024 - Reviewed by Experts
  • Topstep.
  • The 5%ers.
  • Earn2Trade.
  • SurgeTrader.
  • FTMO.
  • E8.
  • City Traders Imperium.
  • Fidelcrest.
Feb 2, 2024

Which prop firm has the fastest payout? ›

Top Forex Firms Based on Pay-out Frequencies
  • Maven [5 days] Matching Funding Pips, Maven also offers pay-outs every 5 days, understanding the need to provide traders with frequent capital access. ...
  • Traddoo [7 days] ...
  • Funded Trading Plus [7 days] ...
  • Smart Prop Trader [12 days] ...
  • Summary.
Feb 14, 2024

What are the top 5 futures prop firms? ›

The top futures prop firms are TopStepTrader, Jane Street, FTMO, 3Red Partners and The Trading Pit. Jane Street and 3Red Partners are very secretive about their fees and profit splits but they do offer some of the best technology and high-frequency trading.

How do I choose a prop trading firm? ›

Don't just pick the first prop trading firm you find. Choose one with a good reputation, support for traders, good tools, safety measures, fair costs, and a friendly community. This way, you can trade smarter and have a better chance at success.

What is the best prop firm right now? ›

Quick Look: Best Prop Trading Firms
  • Best for Beginner Futures Traders: Apex Trader Funding.
  • Best for Experienced Traders: FXIFY.
  • Best for Stock Traders: Trade the Pool.
  • Best for Experienced and Beginner Forex, Indices and Metal Traders: The 5ers.
  • Best for All Futures Traders: BluSky.

Are there any legitimate prop firms? ›

FTMO (previously known as MyForexUniverse) is one of the largest and best-known prop firms globally. Based in the Czech Republic, they provide funded accounts up to $400,000 to traders that can pass their evaluation.

Which prop firm has the lowest fees? ›

Best cheap forex prop firms
  • FTMO: evaluations starting at $399.
  • TopStepTrader: Challenges starting at $375.
  • T4tCapital: Flexible evaluation options starting at $299.
  • Funded Trading Plus: Starting at $25.
  • Earn2Trade: $99 Mini challenge.
  • True Trading Group: $49 evaluation with a $25,000 virtual account.
Feb 27, 2024

Which prop firm gives weekly payout? ›

Proprietary Trading Firm Payout Cycles
Proprietary Trading FirmPayout Cycle
Axe TraderWeekly
Bespoke FundingBi-weekly
Blue GuardianBi-weekly
Cash Flow FundingElite Challenge: Weekly Standard Challenge: Bi-weekly
36 more rows
Apr 2, 2024

What happens if you lose money in a prop firm? ›

Proprietary trading firms often provide evaluation accounts where you prove your trading skills. Usually, you pay a one-time fee to enter this "challenge." If you lose money during this evaluation, you won't owe anything beyond the initial fee.

What is the best prop firm in 2024? ›

FTMO. FTMO is one of the leading prop firms globally, offering traders the opportunity to trade with a funded account. It has a reputation for high-quality education, rigorous evaluation process, and excellent customer support. In Nigeria, FTMO is a top choice for traders looking to take their trading to the next level ...

Why is FTMO banned in US? ›

FTMO have now restricted access to all new US-based traders as of January 2024. This appears to be related to regulatory issues and may have something to do with the recent My Forex Funds case.

Is FTMO the best prop firm? ›

FTMO is one such prop trading firm that offers funding to traders. They provide traders with the opportunity to trade their own capital, as well as access to additional capital from FTMO. This means that traders can potentially earn a higher profit while still having the support and resources of a prop firm.

Do prop firms give you real money? ›

While it's true that there have been instances of fraudulent prop firms, it's important to note that legitimate prop trading firms do exist, and they indeed pay traders based on their performance. It's crucial to thoroughly research and choose reputable firms with a proven track record.

Is trading for a prop firm worth it? ›

While prop trading is one of the most profitable opportunities, it is affected by asymmetric risk. This means that the profit-sharing ratio may be from 75% to 90%, but you bear 100% of the risk of your trades. When becoming a prop trader, you often need to deposit an amount of money known as your risk contribution.

Which prop firm is best for scalping? ›

FTMO is considered one of the best Forex prop firms for traders due to its unique evaluation process, high capital allocation, and comprehensive support resources. Other top Forex prop firms for scalpers include City Traders Imperium (CTI), SurgeTrader, FundedNext, and My Forex Funds.

Do prop firms really pay out? ›

Yes, prop firms do pay. While there are some scams out there popping up everyday, reputable prop trading firms like True Forex Funds, FTMO,5%ers,FundedNext are legitimate and pay traders according to their profit-sharing agreements. As for True Forex Funds, I can vouch for their credibility.

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