Dive into our in-depth review of Forex Prop Firm, where we explore their innovative funding programs, exceptional customer support, and robust trading platform, tailored for both novice and experienced traders in the forex market.
Dive into our in-depth review of Forex Prop Firm, where we explore their innovative funding programs, exceptional customer support, and robust trading platform, tailored for both novice and experienced traders in the forex market.
- Diverse Funding Programs.
- High Profit Split Options.
- Flexible Evaluation Criteria.
- 24/7 Customer Support.
- Substantial Account Scaling Potential.
Table of Contents
Review of Forex Prop Firm’s Trading Programs
Forex Prop Firm stands out in the proprietary trading industry by creating an optimal trading environment for its clients. This London-based company presents four unique funding programs, catering to a global clientele. These programs are designed to offer traders the potential for significant profit shares, reaching as high as 100%. Participants can start with account sizes of up to $200,000 and have the opportunity to scale their portfolios up to an impressive $10,000,000. The range of trading options is comprehensive, including forex pairs, commodities, indices, stocks, and cryptocurrencies, allowing for a diverse and dynamic trading experience.
Understanding Forex Prop Firm: An Overview
Forex Prop Firm, officially known as 9452-8635 Québec Inc., is a notable player in the proprietary trading sector, established in January 2022. The firm is headquartered in Montreal, Canada, with its primary business location at 288 Christin, J5z 4n1, QC, Canada. This firm offers its clients the opportunity to manage accounts with initial capital of up to $200,000, which can be scaled to a substantial $10,000,000. Notably, Forex Prop Firm has partnered with Eightcap, a broker regulated by the Australian Securities and Investments Commission (ASIC) based in Melbourne, Australia. This strategic collaboration underscores the firm’s commitment to providing robust and regulated trading environments for its clients.
Leadership Spotlight: Jonathan Dufresne, CEO of Forex Prop Firm
At the helm of Forex Prop Firm’s operations is Jonathan Dufresne, serving as the Chief Executive Officer. His leadership is a pivotal aspect of the firm’s success in the proprietary trading market. As the face of the organization, Jonathan Dufresne brings a wealth of experience and expertise, guiding the firm towards achieving its strategic goals. Further insights and detailed information about Jonathan Dufresne’s role and contributions to Forex Prop Firm will be made available in the future, providing a deeper understanding of the leadership driving the company’s growth and success.
Diverse Funding Program Options at Forex Prop Firm
The London-based Forex Prop Firm extends a range of funding programs to suit different trading styles and preferences. Currently, traders can select from four distinct options:
- One-step Evaluation: A straightforward approach for traders to demonstrate their skills.
- Two-step Evaluation (No Daily Drawdown during Evaluation): Offers a more structured evaluation process without the pressure of daily drawdown limits.
- No Time Limit Two-step Evaluation: This variant removes the time constraints, allowing traders to progress at their own pace.
- Instant Funding: An option for immediate access to trading capital, catering to those ready to dive into the market without preliminary evaluations.
Each of these programs is tailored to provide flexibility and accommodate the diverse needs of traders worldwide, reflecting Forex Prop Firm’s commitment to offering versatile and trader-centric solutions.
Forex Prop Firm’s One-step Evaluation Program
The one-step evaluation program offered by Forex Prop Firm is an innovative approach for traders to showcase their skills. This program is unique in that it imposes no time constraints, offering a comfortable and flexible trading environment. Traders can leverage up to 1:30, with various account sizes available at different price points:
- $25,000 account for $209
- $50,000 account for $319
- $100,000 account for $549
- $200,000 account for $999
To successfully navigate the evaluation phase, traders must achieve a 10% profit target while adhering to a 4% maximum daily and a 6% overall drawdown limit. A key advantage of this program is the absence of minimum or maximum trading day requirements, allowing traders to progress at their own pace. Upon completion of the evaluation, traders are granted a funded account with a 5% profit target for withdrawal requests. The same drawdown limits of 4% daily and 6% overall apply. The first payout can be requested 30 calendar days after the initial trade on the funded account, provided there’s a minimum profit of 5%. The initial profit split is set at 90%, with the potential to scale up to 100%. Remarkably, the first payout also includes a 10% bonus of the profit earned during the evaluation phase. Withdrawals can then be requested bi-weekly, on the 1st and 16th of each month, subject to a 5% profit generation.
Rules of the One-step Evaluation Program at Forex Prop Firm
Forex Prop Firm’s one-step evaluation program is governed by a set of clear rules designed to ensure fair and responsible trading:
- Profit Target: The primary goal for traders in this program is to achieve a 10% profit target during the evaluation phase. Once on a funded account, the withdrawal profit target is set at 5%.
- Maximum Daily Loss: To manage risk effectively, the program stipulates a maximum daily loss limit of 4% for all account sizes. This helps in maintaining discipline in trading activities.
- Overall Maximum Loss: Alongside daily loss limits, there’s an overall maximum loss limit of 6% for all accounts, ensuring traders do not exceed sustainable loss thresholds.
- Third-party Copy Trading Risk: Traders opting for copy trading services must be aware that using such services, especially third-party ones, increases the risk of duplicating strategies already in use. This might lead to the denial of a funded account or withdrawals if the maximum capital allocation rule is exceeded.
- Third-party EA Risk: Similar to copy trading, using third-party Expert Advisors (EAs) also carries the risk of strategy duplication. Traders should be cautious as this could lead to potential denial of account funding or withdrawals if it results in exceeding the capital allocation limits.
These rules are integral to the structure of the one-step evaluation program, ensuring that traders are aware of the boundaries within which they must operate to succeed and progress within the Forex Prop Firm’s framework.
Forex Prop Firm’s Two-step Evaluation Program: A Detailed Look
Forex Prop Firm’s two-step evaluation program is crafted to identify and reward disciplined and skilled traders. This program, unique for its absence of daily drawdown rules, allows traders to leverage up to 1:30. The program is structured in two distinct steps, each with specific requirements:
- $25,000 account for $189
- $50,000 account for $289
- $100,000 account for $499
- $200,000 account for $979
Step One of the Evaluation
In the first step, traders are required to achieve an 8% profit target without exceeding a 12% maximum loss. This target must be met within 35 calendar days from the first trade, along with a minimum of five trading days to advance to the second step.
Step Two of the Evaluation
The second step demands a 5% profit target, again with a 12% maximum loss rule. Traders have 60 calendar days from the initiation of the first trade to meet this target and must trade for at least five days to qualify for funded status. Upon successful completion of both steps, traders are awarded a funded account. The requirements for this account include a 5% profit target for withdrawal requests, a 5% maximum daily loss, and a 10% overall loss limit. The first payout can be requested 30 days after the first trade on the funded account, provided a 5% profit is achieved. Initially, traders receive a 90% profit split, with the possibility of scaling up to 100%. Additionally, the first payout includes a 10% bonus of the profits made during the evaluation. Withdrawals can then be requested bi-weekly, on the 1st and 16th of each month, subject to a 5% profit generation.
Rules of the Two-step Evaluation Program at Forex Prop Firm
The two-step evaluation program at Forex Prop Firm is governed by a specific set of rules designed to ensure a fair and disciplined trading approach:
- Profit Target: In the first phase, traders are required to achieve an 8% profit target, while the second phase demands a 5% profit target. Once on a funded account, the withdrawal profit target is set at 5%.
- Maximum Daily Loss: Notably, there is no maximum daily loss rule during both evaluation steps. However, in the funded account status, the maximum daily loss is capped at 5% for all account sizes.
- Overall Maximum Loss: Throughout both evaluation steps, the overall maximum loss limit is set at 12%. This changes to a 10% maximum loss limit once the trader attains funded status.
- Minimum Trading Days: Both evaluation phases require a minimum of five trading days. In contrast, there are no minimum trading day requirements in the funded account phase.
- Maximum Trading Days: The first phase of evaluation must be completed within a maximum of 35 trading days, while the second phase has a 60 trading days limit.
- Third-party Copy Trading Risk: Traders using third-party copy trading services must be cautious as this might lead to the duplication of trading strategies. Exceeding the maximum capital allocation rule through such services could result in denial of a funded account or withdrawal requests.
- Third-party EA Risk: Similarly, the use of third-party Expert Advisors (EAs) carries the risk of strategy duplication. This could potentially lead to denial of funding or withdrawal if it results in exceeding the capital allocation limits.
These meticulously crafted rules are essential for traders participating in the two-step evaluation program, ensuring they understand the parameters and expectations set forth by Forex Prop Firm.
Exploring the No Time Limit Two-step Evaluation Program at Forex Prop Firm
Forex Prop Firm introduces a unique no time limit two-step evaluation program, designed for traders who value a flexible and unhurried trading approach. This program allows for trading with up to 1:30 leverage, offering various account sizes:
- $25,000 account for $209
- $50,000 account for $319
- $100,000 account for $549
- $200,000 account for $999
Step One of the Evaluation
The first phase requires traders to achieve a 10% profit target while adhering to a 5% maximum daily loss and a 10% overall loss limit. A notable aspect of this phase is the absence of a maximum trading day requirement, although a minimum of three trading days is mandatory to progress to the second step.
Step Two of the Evaluation
In the second phase, the profit target is set at 5%, with the same loss limits of 5% daily and 10% overall. Similar to the first phase, there is no maximum trading day requirement, but traders must trade for at least three days to qualify for funded status. Successful completion of both steps leads to a funded account with a 5% profit target for withdrawal requests and adherence to the 5% maximum daily and 10% overall loss rules. The first payout can be requested 30 days after the initial trade on the funded account, provided a 5% profit is achieved. Traders start with a 90% profit split, with the potential to scale up to 100%. Additionally, the first payout includes a 10% bonus of the profits earned during the evaluation. Withdrawals can then be requested bi-weekly, on the 1st and 16th of each month, subject to a 5% profit generation.
Key Rules of the No Time Limit Two-step Evaluation Program at Forex Prop Firm
The no time limit two-step evaluation program at Forex Prop Firm is structured around a set of rules that ensure fairness and discipline in trading:
- Profit Target: In phase one, traders must aim for a 10% profit target, while phase two requires a 5% profit target. For funded accounts, the withdrawal profit target is consistently set at 5%.
- Maximum Daily Loss: Across all account sizes, the maximum daily loss is restricted to 5%, helping traders manage risk effectively.
- Overall Maximum Loss: The program imposes a 10% maximum loss limit across all account sizes, maintaining a balance between risk and reward.
- Minimum Trading Days: Traders are required to trade for at least three days in both evaluation phases. However, once on a funded account, there are no minimum trading day requirements.
- Third-party Copy Trading Risk: Traders considering third-party copy trading services should be aware of the risks associated with strategy duplication. If these services lead to exceeding the maximum capital allocation rule, it might result in denial of a funded account or withdrawal requests.
- Third-party EA Risk: Using third-party Expert Advisors (EAs) also carries a similar risk of strategy duplication. Traders need to be cautious as this could potentially lead to denial of funding or withdrawal if it results in exceeding the capital allocation limits.
These rules form the backbone of the no time limit two-step evaluation program, guiding traders through the process and setting clear expectations for participation in Forex Prop Firm’s trading environment.
Forex Prop Firm’s Instant Funding Program
Forex Prop Firm’s instant funding program is tailored for seasoned traders, allowing them to bypass the evaluation period and commence trading immediately. This program is focused on adhering to risk management rules while providing attractive profit opportunities:
- $10,000 account for $500
- $25,000 account for $1,250
- $50,000 account for $2,500
- $100,000 account for $5,000
- $200,000 account for $10,000
Key features of the program include:
- Maximum Daily Loss: Traders must not exceed a 5% maximum daily loss.
- Overall Drawdown Limit: An overall drawdown limit of 5% is also in place.
- Profit Splits: Profit splits range from 80% to 100%, depending on the profits made.
- Leverage: Up to 1:30 leverage is available for trading.
- Minimum Trading Days: A minimum of five trading days is required.
- Profit Target: A 5% profit target must be met to be eligible for the first withdrawal.
- Withdrawal Schedule: After the initial payout, withdrawals can be requested bi-weekly, on the 1st and 16th of each month, provided a minimum profit of 5% is generated.
This program is an excellent opportunity for experienced traders to leverage their skills and start earning profits right away, underlining Forex Prop Firm’s commitment to providing flexible and trader-centric solutions.
Guidelines for the Instant Funding Program at Forex Prop Firm
Forex Prop Firm’s instant funding program, designed for experienced traders, is governed by a set of specific rules to ensure disciplined trading:
- Profit Target: The program sets a 5% withdrawal profit target for instant funding accounts.
- Maximum Daily Loss: A maximum daily loss limit of 5% applies to all account sizes, helping in risk management.
- Overall Maximum Loss: Similarly, there is a 5% overall maximum loss limit for all accounts, ensuring traders stay within reasonable risk parameters.
- Minimum Trading Days: Traders are required to engage in a minimum of five trading days before they become eligible for their first payout.
- Third-party Copy Trading Risk: Utilizing third-party copy trading services could lead to strategy duplication. If this results in exceeding the maximum capital allocation rule, it may result in denial of a funded account or withdrawal requests.
- Third-party EA Risk: The use of third-party Expert Advisors (EAs) also carries the risk of strategy duplication. Traders need to exercise caution as this could potentially lead to denial of funding or withdrawal if it leads to exceeding the capital allocation limits.
These rules are crucial for participants of the instant funding program, outlining the expectations and boundaries within which they must operate to effectively manage their trading activities at Forex Prop Firm.
Distinctive Features of Forex Prop Firm Compared to Other Prop Firms
Forex Prop Firm differentiates itself from other leading proprietary trading firms in several key ways, offering unique advantages to its traders:
- Diverse Funding Programs: The firm provides four distinct funding programs: One-step evaluation, two-step evaluation, no time limit two-step evaluation, and instant funding. This diversity caters to various trading styles and preferences.
- Simplified Trading Rules: Their trading rules are straightforward, allowing traders the flexibility to trade during news releases, hold trades overnight, and over weekends.
- Profit Split from Demo Phases: Traders receive a 10% profit split from the profits generated during their demo phases, which is a unique feature not commonly found in other prop firms.
One-step Evaluation Program
Forex Prop Firm’s one-step evaluation program stands out by requiring only a single phase to be completed for eligibility for payouts. The program has a 10% profit target, with 4% maximum daily loss and 6% maximum drawdown rules. Unlike many other prop firms, it imposes no minimum or maximum trading day requirements, allowing traders to progress at a pace that suits them. However, a 5% profit generation is necessary before withdrawal eligibility.
Two-step Evaluation Program
The two-step evaluation program is a two-phase initiative requiring traders to complete both stages for payout eligibility. The profit targets are set at 8% for phase one and 5% for phase two, with a 12% maximum drawdown rule. Upon reaching funded status, traders must adhere to a 5% maximum daily and 10% maximum drawdown rules. This program is unique in that it does not impose a daily drawdown rule during the evaluation stages, focusing solely on the maximum drawdown rule. However, similar to the one-step program, a 5% profit is required before becoming eligible for withdrawals. These distinctive features highlight Forex Prop Firm’s commitment to providing flexible and trader-centric solutions, distinguishing it from other players in the proprietary trading market.
Comparative Analysis: Forex Prop Firm vs. True Forex Funds
Understanding the differences between Forex Prop Firm and True Forex Funds, particularly in their standard offerings, can be essential for traders deciding between the two. Here’s a detailed comparison:
| Trading Objectives | Forex Prop Firm | True Forex Funds (Standard) |
|---|---|---|
| Phase 1 Profit Target | 8% | 8% |
| Phase 2 Profit Target | 5% | 5% |
| Maximum Daily Loss | None (5% once funded) | 5% |
| Maximum Loss | 12% (10% once funded) | 10% |
| Minimum Trading Days | 5 Calendar Days | 5 Calendar Days |
| Maximum Trading Period | Phase 1: 35 Calendar Days Phase 2: 60 Calendar Days | Phase 1: 30 Calendar Days Phase 2: 60 Calendar Days |
| Profit Split | 90% up to 100% | 80% |
This comparative analysis reveals the similarities and differences in key areas such as profit targets, loss limits, trading periods, and profit splits. Such comparisons are invaluable for traders in making informed decisions about which proprietary trading firm aligns best with their trading strategies and goals.
Comparing Forex Prop Firm and E8 Funding: Trading Objectives
A comparative analysis between Forex Prop Firm and E8 Funding, focusing on their normal trading programs, highlights several key distinctions and similarities:
| Trading Objectives | Forex Prop Firm | E8 Funding (Normal) |
|---|---|---|
| Phase 1 Profit Target | 8% | 8% |
| Phase 2 Profit Target | 5% | 5% |
| Maximum Daily Loss | None (5% once funded) | 5% |
| Maximum Loss | 12% (10% once funded) | 8% (Scalable up to 14%) |
| Minimum Trading Days | 5 Calendar Days | No Minimum Trading Days |
| Maximum Trading Period | Phase 1: 35 Calendar Days Phase 2: 60 Calendar Days | Phase 1: Unlimited Phase 2: Unlimited |
| Profit Split | 90% up to 100% | 80% |
This table provides a clear view of how Forex Prop Firm and E8 Funding align and differ in their trading programs. It covers aspects like profit targets, loss limits, trading period requirements, and profit splits, offering traders a comprehensive comparison to aid in their decision-making process.
Comparative Analysis: Forex Prop Firm vs. FTMO
Comparing Forex Prop Firm with FTMO sheds light on how each firm structures its trading objectives, offering valuable insights for traders choosing between these two firms:
| Trading Objectives | Forex Prop Firm | FTMO |
|---|---|---|
| Phase 1 Profit Target | 8% | 10% |
| Phase 2 Profit Target | 5% | 5% |
| Maximum Daily Loss | None (5% once funded) | 5% |
| Maximum Loss | 12% (10% once funded) | 10% |
| Minimum Trading Days | 5 Calendar Days | 4 Calendar Days |
| Maximum Trading Period | Phase 1: 35 Calendar Days Phase 2: 60 Calendar Days | Phase 1: Unlimited Phase 2: Unlimited |
| Profit Split | 90% up to 100% | 80% up to 90% |
In addition to this comparison, Forex Prop Firm’s no time limit two-step evaluation program is noteworthy. It also encompasses two phases, with phase one requiring a 10% profit target and phase two a 5% profit target. The program sets a 5% maximum daily loss and a 10% maximum drawdown rule. Uniquely, it has no maximum trading day requirements, allowing traders to proceed at a comfortable pace. However, a 5% profit generation is necessary before withdrawal eligibility. This feature particularly sets Forex Prop Firm apart from other industry-leading prop firms like FTMO.
Forex Prop Firm vs. Funding Pips: Trading Objective Comparison
When evaluating Forex Prop Firm against Funding Pips, it’s crucial to examine the specific trading objectives set by each firm. This comparison provides clear insights into their respective programs:
| Trading Objectives | Forex Prop Firm | Funding Pips |
|---|---|---|
| Phase 1 Profit Target | 10% | 8% |
| Phase 2 Profit Target | 5% | 5% |
| Maximum Daily Loss | 5% | 5% |
| Maximum Loss | 10% | 10% |
| Minimum Trading Days | 3 Calendar Days | No Minimum Trading Days |
| Maximum Trading Period | Phase 1: Unlimited Phase 2: Unlimited | Phase 1: Unlimited Phase 2: Unlimited |
| Profit Split | 90% up to 100% | 80% up to 90% |
This side-by-side comparison showcases the similarities and differences in profit targets, loss limits, trading days, periods, and profit splits between Forex Prop Firm and Funding Pips. Such comparative insights are invaluable for traders in making informed decisions about which firm aligns best with their trading strategies and goals.
Comparative Analysis: Forex Prop Firm vs. Finotive Funding
A comparison of the trading objectives between Forex Prop Firm and Finotive Funding offers a clear understanding of how each firm structures their programs:
| Trading Objectives | Forex Prop Firm | Finotive Funding |
|---|---|---|
| Phase 1 Profit Target | 10% | 7.5% |
| Phase 2 Profit Target | 5% | 5% |
| Maximum Daily Loss | 5% | 5% |
| Maximum Loss | 10% | 10% |
| Minimum Trading Days | 3 Calendar Days | No Minimum Trading Days |
| Maximum Trading Period | Phase 1: Unlimited Phase 2: Unlimited | Phase 1: Unlimited Phase 2: Unlimited |
| Profit Split | 90% up to 100% | 75% up to 95% |
This comparison table highlights the key differences and similarities in profit targets, daily and maximum loss limits, minimum trading days, trading periods, and profit splits between Forex Prop Firm and Finotive Funding. Such a comparison is crucial for traders to make an informed decision about which firm’s offerings are more aligned with their trading approach and objectives.
Forex Prop Firm vs. FundedNext: Trading Objectives Comparison
An in-depth comparison between Forex Prop Firm and FundedNext (Stellar) highlights each firm’s unique approach to trading objectives:
| Trading Objectives | Forex Prop Firm | FundedNext (Stellar) |
|---|---|---|
| Phase 1 Profit Target | 10% | 8% |
| Phase 2 Profit Target | 5% | 5% |
| Maximum Daily Loss | 5% | 5% |
| Maximum Loss | 10% | 10% |
| Minimum Trading Days | 3 Calendar Days | 5 Calendar Days |
| Maximum Trading Period | Phase 1: Unlimited Phase 2: Unlimited | Phase 1: Unlimited Phase 2: Unlimited |
| Profit Split | 90% up to 100% | 80% up to 90% |
Forex Prop Firm also offers an instant funding program, distinguishing it from other prop firms. This direct funding program includes a 5% maximum daily loss and a 5% maximum drawdown rule. Traders have a 5 minimum calendar day requirement and no maximum trading day limit. Profit splits in this program range from 80% to 100%, but a 5% profit generation is necessary before withdrawal eligibility. In summary, Forex Prop Firm sets itself apart from other industry leaders by offering four unique funding programs and straightforward trading rules. This makes it an attractive option for various traders, allowing them to trade during news, hold trades overnight, and over weekends. Additionally, traders benefit from a 10% profit split from their demo phases, further enhancing the appeal of Forex Prop Firm in the competitive world of proprietary trading.
Assessing the Realism of Acquiring Capital from Forex Prop Firm
When evaluating the feasibility of obtaining capital from a proprietary trading firm, it’s crucial to consider how realistic their trading requirements are. Forex Prop Firm offers various programs, each with its own set of criteria:
One-step Evaluation Program
This program is quite realistic due to its average profit target of 10% and manageable maximum loss rules (4% daily, 6% overall). The absence of minimum or maximum trading day requirements enhances its feasibility. However, traders must achieve a 5% profit before they’re eligible for a withdrawal.
Two-step Evaluation Program
The two-step program is also realistic, featuring below-average profit targets (8% in phase one, 5% in phase two) and an above-average 12% maximum drawdown rule. Post funding, the rules change to a 5% maximum daily and 10% maximum drawdown. Traders have a maximum of 35 days in phase one and 60 days in phase two to complete the program, with a minimum of 5 trading days in each phase. A 5% profit is required for withdrawal eligibility.
No Time Limit Two-step Evaluation Program
This program’s average profit targets (10% in phase one, 5% in phase two) and loss rules (5% daily, 10% overall) make it a practical choice. It benefits from having no maximum trading day restrictions, though a minimum of 3 trading days per phase is needed. A 5% profit is necessary before withdrawal eligibility.
Instant Funding Program
The instant funding program is realistic, especially for experienced traders, as it allows direct earnings from the start. The key is to meet the 5% profit target and adhere to the 5-day minimum trading requirement to request a withdrawal. Overall, Forex Prop Firm offers a range of realistic funding options suitable for different trading styles and preferences. Their diverse programs, each with achievable targets and fair rules, make the firm an excellent choice for traders seeking funding opportunities.
Payment Proof from Forex Prop Firm’s Traders
Established in January 2022, Forex Prop Firm has already demonstrated a robust track record of successful payouts to its traders. This can be evidenced through numerous instances of payment proof from traders who have achieved funded status and received profit splits:
- After reaching funded status in any of the four funding programs, traders are eligible for their first payout within 30 calendar days.
- Withdrawal requests can be made on the 1st and the 16th of each month, provided traders have achieved a minimum of 5% profit.
- Initially, traders receive a 90% profit split, which can increase up to 100% through participation in the Forex Prop Firm’s scaling plan.
Evidence of these successful payouts can be found across various platforms:
- Forex Prop Firm’s Discord and Telegram channels are replete with payment proofs, showcasing the experiences of many successful traders.
- Profit split certificates shared by traders serve as credible testimonials to the firm’s commitment to rewarding successful trading endeavors.
While specific examples of payment proofs are not included here, interested individuals can explore Forex Prop Firm’s social media channels for firsthand accounts and evidence of the payouts, offering reassurance of the firm’s legitimacy and commitment to its traders.
Forex Prop Firm’s Broker: Eightcap
Forex Prop Firm has partnered with Eightcap as its primary broker, a significant choice considering Eightcap’s reputation and regulatory status: 
- About Eightcap: Eightcap is a broker regulated by the Australian Securities and Investments Commission (ASIC), based in Melbourne, Australia. Established in 2009, Eightcap’s mission has been to deliver superior financial services to clients globally.
- Global Presence: With five offices worldwide and regulations in multiple jurisdictions, Eightcap caters to a diverse client base, offering the ability to trade across various markets including FX, indices, commodities, and shares.
- Trading Platforms: Eightcap provides traders with the option to choose between MetaTrader 4 and MetaTrader 5 platforms, both renowned for their robust features and user-friendly interfaces.
Forex Prop Firm’s choice of Eightcap underscores its commitment to providing its traders with a reliable and regulated trading environment. The combination of Eightcap’s regulatory framework, global reach, and advanced trading platforms makes it a suitable broker for Forex Prop Firm’s diverse trading programs.
Trading Instruments Available at Forex Prop Firm
Forex Prop Firm offers an extensive selection of trading instruments, encompassing various markets and asset classes. This variety ensures that traders of all preferences and strategies can find suitable options:
Forex Pairs
Traders have access to a comprehensive list of forex pairs, including major, minor, and exotic pairs. Examples include AUD/CAD, EUR/USD, GBP/JPY, and many others, providing a diverse forex trading experience.
Commodities
Commodities trading options include precious metals like silver (XAG/USD) and gold (XAU/USD), as well as energy commodities like oil (UKO/USD, USO/USD).
Indices
Indices available for trading include global indices such as AUS200, SPX500, and GER30, offering exposure to various international markets.
Cryptocurrencies
A wide array of cryptocurrencies is available, including popular options like BTC/USD, ETH/USD, and emerging coins such as SOL/USD and ADA/USD, catering to the growing interest in digital currency trading.
Stocks
Stock trading encompasses a range of global companies’ stocks, including tech giants like AAPL and AMZN, providing opportunities for equity market trading. With up to 1:100 leverage, Forex Prop Firm equips its traders with the flexibility to engage in a range of markets and trading strategies, making it a versatile platform for diverse trading needs.
Trading Fees at Forex Prop Firm
Forex Prop Firm’s trading fees are structured to provide clarity and transparency to traders. The fees vary based on the type of assets being traded:
Trading Commission
| Assets | Fee Terms |
|---|---|
| FOREX | 7 USD / LOT |
| COMMODITIES | 0 USD / LOT |
| INDICES | 0 USD / LOT |
| CRYPTO | 0 USD / LOT |
Spreads
For detailed information on the live spreads, traders are advised to log in to their trading accounts. The following details are provided for accessing the MetaTrader 4 platform:
- Platform: MetaTrader 4
- Server: EightcapLtd-Demo2
- Login Number: 20354897
- Password: Ahsdgt636712#@
- Download Platform
This structure of fees, particularly the zero commission on commodities, indices, and cryptocurrencies, along with the competitive rate on forex trading, makes Forex Prop Firm an attractive option for traders seeking cost-effective trading solutions.
Education and Support Offered by Forex Prop Firm
Although Forex Prop Firm does not offer direct educational resources on their platform, they do feature a dedicated Blog section. This segment of their website is rich with intriguing articles that delve into the experiences of prop traders and cover a range of captivating topics.
While the company does not maintain a dedicated thread on ForexFactory, it frequently appears in discussions. Notably, it is mentioned several times in a thread titled ‘PROP FIRM HUB’, created by a user known as Masterrmind. To explore these discussions further, click here. Forex Prop Firm enhances the trading experience for its clients through a meticulously organized dashboard. This feature is accessible to all their clients, offering a streamlined approach to managing risks. The dashboard displays all trading objectives and vital statistics in a singular, user-friendly interface, simplifying the trading process for users.
Traders’ Perspectives on Forex Prop Firm
The community’s response to Forex Prop Firm is overwhelmingly positive. On Trustpilot, the firm boasts an impressive rating of 4.4/5, derived from 557 reviews. This high score reflects the firm’s commitment to excellent customer support, with their team readily available to assist with information requests or to resolve any issues encountered during the trading process.
A detailed review from one of their traders sheds light on the positive experiences associated with Forex Prop Firm. The trader highlights the company’s lucrative 90% profit share model, which serves as a significant incentive for traders, allowing them to retain 90% of all profits they generate. Another point of commendation is the firm’s prompt and round-the-clock customer service. Lastly, the trader appreciates the simplicity and clarity of the trading rules applied across all four of Forex Prop Firm’s funding models. These rules are thoughtfully designed to foster trader success and promote growth in tandem with the company.
Forex Prop Firm’s Social Media Presence
The digital footprint of Forex Prop Firm extends to various social media platforms, where they have established a notable presence. This diversification allows them to engage with a broad audience across different channels.
On Instagram, Forex Prop Firm has attracted a substantial following, boasting 50.3k followers. This platform serves as a visual showcase of their activities and offerings.
TikTok
With the growing popularity of short-form video content, their TikTok account has garnered 2,938 followers, offering a glimpse into the dynamic world of forex trading.
Forex Prop Firm’s presence on Twitter, with 4,116 followers, allows them to share timely updates, insights, and engage in conversations with their community.
YouTube
On YouTube, they have a significant subscriber base of 5.17k, with 144 videos uploaded. This channel provides educational content, insights, and updates about their services.
Telegram & Discord
The firm also manages a Telegram channel with 6,354 members and a Discord channel with 10,278 members. These platforms facilitate direct communication and community building among traders and enthusiasts.
Support Services at Forex Prop Firm
Forex Prop Firm offers a variety of support options to cater to the needs of their clients and ensure a smooth trading experience.
FAQ Section
For immediate assistance, the firm’s FAQ section is a comprehensive resource, providing answers to common questions and valuable information for both new and experienced traders.
Social Media and Email Support
The support team is actively engaged on social media platforms, offering another avenue for assistance. Additionally, direct contact is available through email at support@forexpropfirm.com, ensuring personalized support for more specific inquiries or issues.
Live Chat Support
Forex Prop Firm’s live chat support provides real-time assistance. Traders can send messages and expect prompt responses. In cases where live support is not available, queries are addressed within 24 hours via email.
Telegram and Discord Channels
The firm’s Telegram and Discord channels are not only platforms for community engagement but also serve as support channels. Here, both the support team and the wider community assist with any support needs or technical issues, fostering a collaborative and supportive environment.
Conclusion: Assessing Forex Prop Firm’s Offerings
Forex Prop Firm stands out as a credible proprietary trading firm, providing traders with a selection of four diverse funding programs. These programs cater to a range of trading styles and objectives, making the firm a suitable choice for a broad spectrum of traders.
One-step Evaluation Program
The one-step evaluation program demands the completion of a single phase before traders become eligible for payouts. This program sets a 10% profit target and adheres to a strict 4% maximum daily loss and 6% maximum drawdown. Successful traders in this program can earn 90% to 100% profit splits and scale their accounts up to $10,000,000. However, a 5% profit target is required for withdrawal eligibility while funded.
Two-step Evaluation Program
This standard two-phase program requires traders to meet 8% and 5% profit targets in the first and second phases, respectively. The program offers realistic goals with a 12% maximum drawdown and no maximum daily loss rule. Upon reaching funded status, 5% maximum daily and 10% maximum drawdown rules apply, with a 5-day minimum trading requirement in each phase and specified timeframes for completion. Like the one-step program, it offers up to 100% profit splits and the opportunity to manage up to $10,000,000.
No Time Limit Two-step Evaluation Program
This variant of the two-step program provides an unlimited timeframe to complete both phases, with 10% and 5% profit targets. The program imposes a 5% maximum daily loss and 10% maximum drawdown, requiring a minimum of 3 trading days in each step. Traders can again earn up to 100% profit splits and manage substantial capital, subject to a 5% profit target for withdrawal requests.
Instant Funding Program
The instant funding program offers direct access to funded accounts, bypassing the evaluation phase. It provides more flexibility with no maximum trading day limitations and profit splits ranging from 80% to 100%. Account scaling potential remains high, but a 5% profit target is necessary for withdrawal eligibility. Forex Prop Firm is an excellent choice for traders seeking straightforward trading rules and manageable profit targets on funded accounts. With its well-established reputation and diverse funding programs, the firm caters to a wide array of trading styles. Its potential to become a leading name in the proprietary trading industry is evident, making it a recommended choice for aspiring and experienced traders alike.
