Prop firms are an excellent opportunity to capitalize on trading success trading a prop firm’s capital.
Prop traders remotely work from all over the world and offer a much higher degree of flexibility than a 9-5 job does. Still, due to regulations, it is not possible to join any prop firm from any country in the world.
That’s why I have created this list of the best prop firms in Canada.
Best Prop Firms In Canada – Top 3
Let’s begin with the list of the top 3 best proprietary trading firms in Canada.
TopStep
- Rating: 4.9/5
- Prop Firm Focus: Futures prop firm
- Tradable Instruments: Futures contracts
- Account Sizes: $50,000 - $2,000,000
- Profit Split: Trader keeps up to 100% of profits
- Trading Platforms: TradingView, Tradovate, NinjaTrader
The5ers
- Rating: 4.9/5
- Prop Firm Focus: Forex prop firm
- Tradable Instruments: Forex, Indices, Commodities, Metals, Stocks, Crypto
- Account Sizes: $50,000 - $2,000,000
- Profit Split: Trader keeps up to 90% of profits
- Trading Platforms: MetaTrader 4, MetaTrader 5, (and cTrader only outside the U.S.)
Trade The Pool
- Rating: 4.9/5
- Prop Firm Focus: Stock prop firm
- All Tradable Instruments: Stocks
- Account Sizes: $50,000 - $2,000,000
- Profit Split: Trader keeps up to 80% of profits
- Trading Platforms: Trader Evolution
All Prop Trading Firms In Canada
Besides the three previously mentioned prop firms in Canada, there are various more firms accepting traders in your country, from which you can choose. I’ve listed them based on rating and categorized them by prop firm type, profit split, and costs.
| # | Prop Firm | Rating | Type | Profit Split | Platforms | Account Sizes | Challenge Types | Costs | Deal | Visit |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | TopStep | ★★★★★ | Futures | 90%-100% | TopstepX, NinjaTrader, Quantower, TradingView, 10+ more | $50K - $150K | 1-Step | From $49 per month | 70% Off | Visit Site |
| 2 | Earn2Trade | ★★★★★ | Futures | 80% | NinjaTrader, Finamark, R|Trader, 10+ more | $25K - $200K | 1-Step, 2-Step | From $150 per month | Up to 70% Off | Visit Site |
| 3 | The5ers | ★★★★★ | Forex | 50%-100% | MetaTrader 5 | $5K - $100K | 1-Step, 2-Step, Instant | From $39 per challenge | 10% Off | Visit Site |
| 4 | Trade The Pool | ★★★★★ | Stocks | 50%-80% | Trader Evaluation | $20K - $260K | 1-Step | From $97 per challenge | 10% Off | Visit Site |
| 5 | Apex Trader Funding | ★★★★★ | Futures | 90%-100% | NinjaTrader | 25K - 300K | 1-Step | From $147 per month | No | Visit Site |
| 6 | Elite Trader Funding | ★★★★★ | Futures | 90%-100% | NinjaTrader, TradingView | $10K - 300K | 1-Step | From $80 per month | No | Visit Site |
| 7 | SurgeTrader | ★★★★★ | Forex | 75%-90% | MetaTrader 4, MetaTrader 5 | $25K - $500K | 1-Step, 2-Step | From $200 per challenge | No | Visit Site |
| 8 | FTUK | ★★★★★ | Forex | 80% | MetaTrader 4, MetaTrader 5 | $14K - $90K | 1-Step, Instant | From $149 per challenge | No | Visit Site |
| 9 | FundedNext | ★★★★★ | Forex | 60%-90% | MetaTrader 4, MetaTrader 5 | $6K - $200K | 1-Step, 2-Step | From $59 per challenge | No | Visit Site |
| 10 | Funded Trading Plus | ★★★★★ | Forex | 80% | MetaTrader 4, MetaTrader 5 | $5K - $200K | 1-Step, 2-Step, Instant | From $247 per challenge | No | Visit Site |
| 11 | FXIFY | ★★★★★ | Forex | 75%-90% | MetaTrader 4, MetaTrader 5 | $15K - $400K | 1-Step, 2-Step | From $99 per challenge | No | Visit Site |
| 12 | The Funded Trader | ★★★★★ | Forex | 80%-90% | MetaTrader 4, MetaTrader 5 | $5K - $400K | 1-Step, 2-Step | From $65 per challenge | No | Visit Site |
| 13 | InstantFunding.io | ★★★★★ | Forex | 70%-90% | MetaTrader 4, MetaTrader 5 | $1.25K - $200K | 1-Step, 2-Step, Instant | From $79 per challenge | No | Visit Site |
| 14 | Finotive Funding | ★★★★★ | Forex | 75%-95% | MetaTrader 5 | $2.5K - $200K | 1-Step, 2-Step, Instant | From $50 per challenge | No | Visit Site |
| 15 | Maven Trading | ★★★★★ | Forex | 80% | MetaTrader 5 | $2K - $200K | 1-Step, 2-Step | From $35 per challenge | No | Visit Site |
| 16 | OneUP Trader | ★★★★★ | Futures | 90%-100% | NinjaTrader | $25K - $250K | 1-Step | From $125 per month | No | Visit Site |
| 17 | TradeDay | ★★★★★ | Futures | 90%-100% | NinjaTrader, TradingView | $10K - $250K | 1-Step | From $99 per month | No | Visit Site |
| 18 | True Forex Funds | ★★★★★ | Forex | 80% | MetaTrader 4, MetaTrader 5 | $10K - $200K | 1-Step, 2-Step | From 89 Euro per challenge | No | Visit Site |
| 19 | Audacity Capital | ★★★★★ | Forex | 50% | MetaTrader 4, MetaTrader 5 | $15K | Instant | $247 setup fee, plus $125 per month | No | Visit Site |
| 20 | FTMO | ★★★★★ | Forex | 80% | MetaTrader 4, MetaTrader 5, cTrader, Dxtrade | $10K - $200K | 2 Step | From 150 Euro per challenge | No | Visit Site |
| 21 | Bulenox | ★★★★★ | Futures | UP to 90% | NinjaTrader | $10K - $250K | 1-Step | From $115 per month | No | Visit Site |
| 22 | Skilled Funded Trader | ★★★★★ | Forex | 80%-90% | MetaTrader 4, MetaTrader 5 | $5K - $200K | 2-Step | From $79 per challenge | No | Visit Site |
| 23 | Bespoke Funding Program | ★★★★★ | Forex | 80% | MetaTrader 4, MetaTrader 5 | $10K - $400K | 2-Step | From $129 per challenge | No | Visit Site |
| 24 | Fidelcrest | ★★★★★ | Forex | 80%-90% | MetaTrader 4, MetaTrader 5 | $15K - $1M | 2-Step | From $99 per challenge | No | Visit Site |
| 25 | FunderPro | ★★★★★ | Forex | 80% | TradeLocker | $25K - $200K | 2-Step | From $249 per challenge | No | Visit Site |
| 26 | FundingPips | ★★★★★ | Forex | 80%-90% | MetaTrader 5 | $5K - $100K | 2-Step | From $32 per challenge | No | Visit Site |
| 27 | City Traders Imperium | ★★★★★ | Forex | 50%-100% | MetaTrader 5 | $2.5K - $100K | 1-Step, 2-Step, Instant | From $39 | No | Visit Site |
| 28 | Lux Trading Firm | ★★★★★ | Forex | 75% | The Lux Trader, MetaTrader 5 | $25K - $1M | 2-Step | From 149 GBP per challenge | No | Visit Site |
| 29 | Ment Funding | ★★★★★ | Forex | Not disclosed | Not disclosed | $25K - $2M | 1-Step | From $250 per challenge | No | Visit Site |
| 30 | Uprofit | ★★★★★ | Futures | Not disclosed | NinjaTrader, R|Trader | $9K - $200K | 1-Step | From $89 per month | No | Visit Site |
| 31 | OFP Funding | ★★★★★ | Forex | 26%-80% | MetaTrader 4, MetaTrader 5 | $5K - $100K | Instant Demo | From $73 per challenge | No | Visit Site |
How To Choose a Prop Firm
In case you are undecided about which prop firm to choose, expand your due diligence process by taking a closer look at the exact terms and conditions of each firm:
- Review the firm’s trading conditions and profit-sharing structure carefully. It’s important to understand how much of your profits you get to keep versus what percentage the firm takes. A profit slit of 70% means that the prop trader keeps 70% of the profits he makes.
- Consider minimum funding requirements and whether demo trading is offered. Look for firms that allow you to start small by providing lower minimums or access to paper trading first to practice your strategies. Trading with play money removes the pressure of risking your own funds from the start.
- Research which specific markets and securities you will be allowed to trade. Your choice of prop firm should give you flexibility in the assets you want to focus your strategies on, such as stocks, futures, forex pairs or options. Being restricted in your trading opportunities limits your ability to capitalize on different trends.
- Make sure the firm equips you with robust trading platforms, market data and analytical tools. Without the proper technology and information resources, it will not be easy to research opportunities and execute trades efficiently. A quality prop shop invests in the tools traders require.
- Check reviews and talk to other traders about their experiences. Ask about things like funding delays, customer service quality, order execution speeds and more. Getting honest referrals can help you avoid potential issues and identify legitimate prop firms to consider partnering with.
How We Rated and Chosen The Prop Trading Firms for Canada
First, we checked if the prop firms accept traders from your country, and then we rated and ranked them based on various factors:
- User Ratings: What ratings does a prop firm get on various rating websites?
- Costs: How do the costs relate to the potential outcome?
- Profit Split: How much money can a successful trader keep and withdraw to his bank account?
- Tradeable Instruments: What type of instruments are tradeable, and how many of a group of instruments can be traded?
- Trading Platforms: What trading platforms are offered and available to trade with?
- Customer Support: How can prop traders contact support to get help?
- Product Innovation: Do prop firms have innovative concepts that help prop traders become successful?
What Type of Instruments Can You Trade With a Prop Firm
If you want to become a prop trader to trade from Canada, you can choose between two major types of prop firms – futures prop firms and forex prop firms. Those two types dominate the proprietary trading firm market today. Still, some prop firs are specialized in stock trading and crypto trading.
Instruments for trading with a futures prop firm:
As a futures prop trader, you trade futures contracts listed on U.S. futures exchanges, such as CME, NYMEX, COMEX and CBOT.
- Equity Futures
- Energy Futures
- Forex Pair Futures
- Agricultural Futures
- Metals Futures
- Interest Rate Futures
- Crypto Futures
Instruments for trading with a forex prop firm:
If you join a forex prop firm, the majority of available instruments to trade will be forex pairs, such as EUR/USD. However, most brokers in the forex segment also allow trading more securities based on contracts for difference (CFDs).
- Forex pairs
- Indices
- Stocks
- Metals
- Commodities
- Crypto
Funded Account Sizes for Prop Traders in Canada
Funded accounts can go into the millions, but it’s only possible to reach those account sizes through scaling. Typically, you start with a $50,000 account due to the low costs involved.
Various prop firms double your position size for every 10% in profits. So, you move from a $50,000 account to $100,000, then $200,000 and so on.
As a beginner, it’s a good idea to start with smaller account sizes to find out if this type of trading is right for you.
Prop Firm Trading Platforms
Once again, you have to divide the market by two leading prop firm industries: the futures trading focused prop firms and forex prop firms.
Nearly all forex prop firms use MetaTrader as their leading platform. Some use self-developed ones, but 95% are MT4 or MT5.
In contrast, futures trading-focused prop firms use primarily leading platforms in the futures trading segment, which are NinjaTrader and Tradovate.
Advantages of Canada Prop Firms
- Low prop firm fees
- No private capital is needed to fund a trading account
- Scaling plans available to scale an account into the millions
Disadvantages of Canada Prop Firms
- Trading by the rules can be challenging for beginners
- It’s required to read the terms and conditions to be aware of all rules
- The profit split for lower-priced funded accounts can be less advantageous
