Prop-ageddon: Is Your Prop Firm Still Online? Real Time Updates (2024)

FAQs

Why is it hard to pass the prop firm challenge? ›

Such challenges test trading abilities, risk management competencies, and emotional discipline, ensuring that only the most competent individuals are allowed to manage the firm's funds. Although some companies might offer single-stage evaluations or even bypass them entirely, such cases are rare exceptions.

Forex Prop Firm has released the challenge passing rates for September 2023, shedding light on the success rates of traders participating in their prop trading programs. Here are the Forex Prop Firm September Challenge Statistics: 1-Step Challenge Pass Rate at 10.59% 2-Step Challenge Pass Rate at 13.78%

It typically takes around 4-5 months to become a prop firm funded trader, if you're a consistently profitable trader. Some traders can achieve this much faster by using increased risk. However, the likelihood of failing the trading challenges would be increased.

Examining all of the reviews on websites like Trustpilot to see what the general public has to say about their experiences with a particular firm is the greatest method to determine if a prop firm is legitimate. Be aware that a prop firm's legitimacy cannot be determined by the presence of just a few favorable reviews.

Best Prop Firm Payouts. FunderPro has the fastest prop firm payouts, you can claim uncapped daily payouts. Also, they are 100% guaranteed because your trade with real funds!

Studies have shown that around 4 out of 10 people pass the first stages of any Prop Firm Challenge, and 2 out of the 4 make it through to get a Funded Account. But only 1 person ends up getting paid.

The answer is yes, but the reliability of payouts often depends on the longevity and reputation of the prop firm. A firm that has been in business for a long time, like Maverick Trading, which has been around since 1997, offers strong reassurance that they will consistently pay out.

With the Prop Firm challenges, it's not just about failing or winning. You must be profitable and fulfill certain trading objectives which makes it even harder. Less than 1% of traders who attempt the challenge pass and get funded.

How much does the average prop firm trader make? ›

What is the Average Prop Firm Traders Salary? At the starting level, prop firm traders generally receive a salary over $80,000. In the intermediate range, there are also more experienced traders making over $102,000. Those who are highly skilled or lifetime traders can earn more than $165,000 annually.

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.

Yes, there are many sites offering similar services to FTMO. These include FunderPro, SabioTrade, the5ers and many more. If you are looking for an alternative to FTMO, FunderPro is currently rank as the number one on the list of top Forex Prop Firms.

Studies have shown that around 4 out of 10 people pass the first stages of any Prop Firm Challenge, and 2 out of the 4 make it through to get a Funded Account. But only 1 person ends up getting paid.

Many traders fail to control the emotional urge to keep pushing for higher returns, often ignoring the prudent step of taking profits at planned levels or adjusting stop losses to protect against market reversals.

Becoming a funded trader with a prop firm is not as challenging as it may seem. I speak from personal experience as a funded trader with True Forex Funds. While the journey requires dedication, consistency, and a strategic vision, it's entirely achievable.