The Proprietary trading firms in this list should be on yours too if you have already made ‘profits’ with paper trading and are ready to take the next step without the extra work of going through the industry standard 1-stage or 2-stage evaluation challenges.
It is also useful for experienced profitable traders that want to increase their capital immediately and just get on with their trading day. You just have to pay the fee and the firm gives you access to the account with the appropriate amount of trading balance.
Keep an eye out for whether the fee is a one-time thing or monthly until you reach a profit target. Also, giving their scaling plan a once-over is a good idea to see if it fits your pattern and speed of growth.
Best No Evaluation Prop Firms
1. City Traders Imperium
At City Traders Imperium, your profit splits start low at 50% but can rise to 100% with the trader’s consistent wins. You can get funding directly from the platform by paying the non-refundable one-time fee of £999 for a $20,000 trading balance.
If you are more confident in your skills and need a higher capital too, there are three other plans that you can choose from. Either pay £1,799 for $40,000, £2,199 for $50,000, or £3,099 for $70,000 in trading capital. In the case that you fail to follow the rules with a direct funded account or after you become a portfolio manager, CTI provides you with a 10% discount if you wish to take an evaluation test and go that route to restart your trading journey.
CTI provides a ton of support and education for their traders to have the best experience and their scaling plan allows your account to double every time you reach the 10% profit target. This capital of yours can go up to a maximum of $4 million.
You are classified as a portfolio manager as soon as you pay the fees for the direct funding. And as a Portfolio Manager, the trading rules are to keep the maximum drawdown less than 5%, and the leverage is capped at 1:10.
You can trade forex, gold, and indices as part of the plan, trade during the news releases, and hold positions over the weekend as well as overnight. Expert Advice (EA) trading is also permitted as per the rules.
For their instant funding account model, The5%ers have a low-risk plan where you can apply risk measures to your trading in exchange for low targets and more funding, and an aggressive plan where you can take the freedom to use high leverage and there are no mandatory stop loss orders.
For the low-risk program, the profit targets for scaling your account are set at 10% and 25% for the aggressive program. As part of the platform, you can trade forex and gold, hold the trades overnight, over the weekend, and trade news events if you wish to do so. This is regardless of the plan you are on.
In addition to this, you can use any algorithms to help you with your trading. As long as you keep hitting your profit targets, The5%ers will keep scaling your account up to a cap of $4 million.
Both plans start with €235 in non-refundable fee for $6,000 in funding and you have the option to pay up to €745 to get access to an account with $20,000 in trading balance. These balances are increased by 400% if you achieve your profit targets of 6.2% for the low-risk plan, and 12% for the aggressive one.
The payout split is 50% which makes sense as you are given access to a funded trading account with real money as soon as the one-time fee is paid. Other reasons for choosing either the low-risk model (1:10 leverage, mandatory stop losses, 180 days to achieve profit target) or aggressive (1:30 leverage, no mandatory stop losses, 60 days to achieve profit target) variant will depend on your style of trading.
Related: Best Funded Trader Programs You Should Checkout.
3. BluFX [Instant Funding Forex Prop firms]
BluFX allows all its traders to hold overnight positions which is a pro that you might want to keep in mind when making a decision. In the case that you need more capital but are not bothered by trading time restrictions (Mon – Fri 6 am-9 pm UTC) the Lite package from BluFX might be for you. This allows you to only trade the London and New York market sessions.
Restrictions like this and the no account growth policy are applied on the Lite package but go away in the pricier Pro package.
With no demo challenge, BluFX intends to provide you with the funding you need as soon as the fee is paid. The overall leverage on the platform is only 1:3 and their swap-free plans are AAOFI Sharia compliant if that is something you are looking out for.
There are four plans in total, two of them are swap-free Lite (£139 for $25,000) and Pro (£329 for $50,000) while the others include swap charges and are divided into the Lite (£99 for $25,000) and Pro (£249 for $50,000) packages. These fees are to be paid monthly until you can become a Fund Manager by achieving the profit target of 10% three times.
The other perks of being a Fund Manager are the lack of trading restrictions, no more minimum withdrawal targets, and the ability to scale up to manage $1 million in trading capital with consistent wins.
The platform does not allow hedging meaning you can’t take opposing positions on the same security when they result in margin limit breaches. This is unauthorized trading activity according to the platform. The profits are split evenly at 50/50 as the firm takes the additional risk of providing you instant trading capital without any evaluations.
4. My Forex Funds
Even though there are other plans more fit for traders who are either beginners or looking for a challenge, if you want instant funding, My Forex Funds’ Accelerated plan is for you. With this plan, you get access to trading on a live account from day 1.
Even within the Accelerated plan there are options to choose either the Conventional plan that needs 10% profit to reach the next milestone, allows for a max drawdown of 5% of starting account balance, and has available leverage of 1:50. The plans start from $99 (refundable) for $2,000 capital with assured funding of $324,000, up to $2,450 (refundable) for $50,000 capital, and assured funding of $1,350,000.
The Emphatic part of the plan requires a 20% profit target to reach the next funding milestone. It also allows for a maximum drawdown of 10% of starting account balance and leverage of 1:100. The pricing of the plans starts from $198 for $2,000 capital with assured funding of $486,000 up to $4,900 for $50,000 capital and assured funding of $2,020,000. The fee is returned along with your first withdrawal.
The platform only uses MetaTrader 4 and MetaTrader 5 which might be limiting for some traders. The trading education is also the bare minimum and in the form of blog posts not well-constructed course modules.
Their scaling plan is a little higher than the industry standard and requires achieving the 20% profit target to scale to 1.5x or 2x depending on which phase you are on. You can trade forex, crypto, and metals on the platform but equity trading is not allowed due to the nature of these accounts.
The 50% profit split is low by the standards of the industry but completely in line with most other instant trading firms. As far as customer service is concerned, there are options to reach them via chat, email, or creating a ticket.
Related: Here are some of the best crypto prop trading firms you can trade with in 2022
FTUK aims to provide the best service to its traders before and during their trading journey with a team of support staff that is available 24 hours a day via live chat or email for any queries or issues that need to be solved.
With a fee starting from £150 you can get a fund of $3,500 to begin trading with and choose the low-risk or aggressive plans based on your trading strategy. The three other plans cost £410, £550, and £950 for a capital of $10,000, $15,000, and $22,500 respectively. This is the only one-time non-refundable fee that the platform charges for the risk that it takes on.
The low-risk plan has profit targets of 10%, an absolute maximum drawdown of 5%, possible leverage of up to 50x, 0 minimum trading days, and a 180-day period in which to achieve them. Once these targets are achieved, the instant funding is increased by 400%.
With the aggressive plan, the profit targets are more than doubled to 25%, the absolute drawdown remains at 5%, leverage is doubled to a maximum of 100x, 0 minimum trading days, and you have 90 days to complete these targets. Same as the low-risk plan, your funding is increased by 400% when you do.
FTUK provides you with the ability to trade forex, indices, metals, and commodities so you have a wide variety of choices at your disposal.
To make sure their traders get the best experience possible and also learn something in the process, FTUK has a team of trading mentors and coaches that it makes available for anyone that wishes to use them.
The profit sharing starts with an instant funding industry standard 50/50 split but their scaling plan allows you to take it to 80% in your favour if you keep achieving the profit targets (10% for low-risk and 25% for aggressive) as per your plan of choice.
You can hold positions overnight, over the weekend, or dabble in news trading for the extra volatility. Just so that the platform is not encouraging any bad or irrational behaviour from its traders, there is a mandate for stop-losses in all trades that can go up to a maximum of 1.5% of the value of the trade.
If you are looking for something that is low leverage and Sharia compliant, BluFX’s swap-free Pro package should be the first on your list. Although there is a monthly fee to deal with, if you think you can achieve the 10% profit target three times consecutively and become a fund manager, you don’t have to deal with the monthly fee anymore.
If you are looking for a wide range of instruments to trade, work with a firm that gives you a good dashboard to review your trading work, and are comfortable working with MetaTrader 4 or 5 FTUK might be exactly what you are looking for. Also, their profit splits can go up to 80% if you stay within the rules and achieve their targets in time.
Make sure to consider the firm’s scaling plan, whether they charge a recurring monthly fee, and whether the fee is refundable or not before you make your choice. Some firms like FTUK also have this challenge sort of account where you are trading a live account but there is a time stipulation to earn a profit target. If you do, your account is instantly 4x-ed for the first time. The scaling plan only kicks in after this step.