Navigating the Maze of Proprietary Trading Firm Evaluations: A Comprehensive Guide

Introduction

The world of proprietary trading firms (prop firms) can be a labyrinthine maze for aspiring traders. To help you navigate this complex terrain, we’ve meticulously crafted a comprehensive guide to the two-step evaluation programs offered by 10 renowned prop firms.

Key Parameters for Evaluation

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When selecting a prop firm, it’s essential to consider several crucial parameters that can significantly impact your trading journey. These include:

Proprietary Trading Firms and Their Programs

To provide you with a comprehensive overview, here’s a detailed breakdown of the evaluation programs offered by each of the selected prop firms:

My Forex Funds

My Forex Funds presents a two-phase evaluation program with profit targets of 8% and 5%. Traders must adhere to a daily drawdown limit of 5% and an overall maximum drawdown of 12%. The minimum trading requirement is 5 calendar days, and the profit split ranges from 75% to 90%. The maximum trading period extends to 30 days in Phase 1 and 60 days in Phase 2.

E8 Funding

E8 Funding offers a similar profit target structure of 8% and 5%. The daily drawdown limit is set at 5%, while the maximum drawdown is 8%, scalable up to 14%. Unlike other prop firms, E8 Funding doesn’t impose any minimum trading day requirements. The profit split stands at a generous 80%.

The Funded Trader

The Funded Trader provides a range of evaluation programs with varying profit targets and drawdowns. Traders can choose from programs with profit targets of 10% and 5%, or 8% and 5%. Daily drawdowns range from 5% to 6%, and maximum drawdowns vary between 8% and 12%. The profit split also varies, ranging from 80% to 90%.

Funded Trading Plus

Funded Trading Plus offers a straightforward evaluation program with profit targets of 10% and 5%. The daily drawdown limit is set at 5%, and the maximum drawdown is 10%. Unlike some prop firms, Funded Trading Plus doesn’t specify minimum or maximum trading days. The profit split ranges from 80% to 90%.

FundedNext

FundedNext’s evaluation program features profit targets of 10% and 5%, with a daily drawdown limit of 5% and a maximum drawdown of 10%. The profit split ranges from 80% to 90%.

Finotive Funding

Finotive Funding stands out with its attractive profit target of 7.5% and 5%. The daily and maximum drawdowns are set at 5% and 10%, respectively. Traders can benefit from a generous profit split ranging from 75% to 95%.

True Forex Funds

True Forex Funds offers an evaluation program with profit targets of 8% and 5%. The daily drawdown limit is 5%, and the maximum drawdown is set at 10%. The profit split is fixed at 80%.

FTMO

Ftmo‘s evaluation program features profit targets of 10% and 5%, with a daily drawdown limit of 5% and a maximum drawdown of 10%. The profit split varies from 80% to 90%.

Alpha Capital Group

Alpha Capital Group offers an evaluation program with profit targets of 8% and 4%. The daily drawdown limit is set at 5%, and the maximum drawdown is 10%. The profit split is fixed at 80%.

TopTier Trader

TopTier Trader provides multiple evaluation programs with varying profit targets ranging from 8% to 10%. The daily drawdown limit is set at 5%, and the maximum drawdown ranges from 8% to 10%. The profit split and trading days vary depending on the chosen program.

Conclusion

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This comprehensive guide has provided you with an in-depth understanding of the evaluation programs offered by 10 leading prop firms. By carefully considering the parameters discussed, you can make an informed decision that aligns with your trading style and risk tolerance. Remember, the path to success in proprietary trading requires a combination of skill, discipline, and a thorough understanding of the industry landscape.