Top 5 Best Prop Firms for Forex Trading in 2021 – Forex Academy (2024)

The forex market is one of the largest and most liquid financial markets in the world, with trillions of dollars being traded daily. As a result, many traders are attracted to the forex market for its potential to generate significant profits. However, trading forex can be a challenging endeavor, requiring knowledge, skill, and access to the right resources. This is where prop firms come in.

Proprietary trading firms, or prop firms, are companies that provide traders with the capital, technology, and support necessary to trade the financial markets. In return, traders share a portion of their profits with the firm. Prop firms can be an excellent option for forex traders looking to access additional capital and resources to enhance their trading strategies. In this article, we will explore the top five best prop firms for forex trading in 2021.

1. TopstepFX

TopstepFX is a leading prop firm that specializes in forex trading. They offer traders the opportunity to trade a simulated account, known as the Trading Combine, where they can prove their trading skills and earn a funded account. The Trading Combine consists of two phases: the Evaluation phase and the Funded Account phase. During the Evaluation phase, traders are given a set of trading objectives to meet within a specific time frame. If they successfully meet these objectives, they can progress to the Funded Account phase, where they can trade with real money and keep a portion of their profits.

TopstepFX provides traders with a user-friendly platform, real-time market data, and access to a supportive community of traders. They also offer educational resources and personalized coaching to help traders improve their skills and achieve their trading goals. With a flat monthly fee and no commissions, TopstepFX is an attractive option for forex traders looking to access additional capital and resources.

2. OneUp Trader

OneUp Trader is another popular prop firm that provides traders with the opportunity to earn a funded account. They offer traders a comprehensive evaluation process, where they are given a set of trading objectives to meet within a specific time frame. If traders successfully meet these objectives, they can progress to trading with a funded account and keep a portion of their profits.

OneUp Trader offers traders a choice of trading platforms, including MetaTrader 4 and TradingView, and provides access to real-time market data. They also offer a range of risk management tools, including position sizing calculators and trailing stops, to help traders manage their risk effectively. With competitive pricing and a supportive community, OneUp Trader is a top choice for forex traders looking to trade with a prop firm.

3. FTMO

FTMO is a prop firm that focuses on funding talented forex traders. They offer traders a two-step evaluation process, consisting of the Challenge and Verification phases. During the Challenge phase, traders are given a set of trading objectives to meet within a specific time frame. If they successfully meet these objectives, they can progress to the Verification phase, where they can trade with a funded account and keep a portion of their profits.

FTMO provides traders with a user-friendly platform, real-time market data, and access to a supportive community of traders. They also offer educational resources and personalized coaching to help traders improve their skills and succeed in the forex market. With competitive pricing and a transparent evaluation process, FTMO is a top choice for forex traders looking to trade with a prop firm.

4. Maverick Trading

Maverick Trading is a prop firm that offers traders the opportunity to trade a funded account. They provide traders with a comprehensive training program, where they can learn the ins and outs of forex trading and develop their trading skills. Once traders have completed the training program, they can trade with a funded account and keep a portion of their profits.

Maverick Trading offers traders a choice of trading platforms, including MetaTrader 4 and TradingView, and provides access to real-time market data. They also offer a range of risk management tools, including stop-loss orders and take-profit orders, to help traders manage their risk effectively. With a supportive community and ongoing mentoring, Maverick Trading is a top choice for forex traders looking to trade with a prop firm.

5. The5%ers

The5%ers is a prop firm that focuses on funding forex traders who can consistently generate profits. They offer traders a comprehensive evaluation process, consisting of multiple stages, where they are given a set of trading objectives to meet. If traders successfully meet these objectives, they can progress to trading with a funded account and keep a portion of their profits.

The5%ers provides traders with a user-friendly platform, real-time market data, and access to a supportive community of traders. They also offer educational resources and personalized coaching to help traders improve their skills and achieve their trading goals. With a transparent evaluation process and competitive pricing, The5%ers is a top choice for forex traders looking to trade with a prop firm.

In conclusion, prop firms can be a valuable resource for forex traders looking to access additional capital and resources. The top five best prop firms for forex trading in 2021 include TopstepFX, OneUp Trader, FTMO, Maverick Trading, and The5%ers. Each of these firms offers traders a unique set of benefits, including a comprehensive evaluation process, access to real-time market data, and a supportive community of traders. By choosing the right prop firm, forex traders can enhance their trading strategies and increase their chances of success in the forex market.