The worldof prop trading has taken the US by storm, offering retail investors theopportunity to manage substantial capital with a small upfront fee. Despiterecent controversies and market turmoil, prop firms continue to attracthundreds of thousands of clients. But what does their offering look like, andwhich firms have the most trust?
Join us aswe dive into the prop trading market in the US and compare four prominent firms- E8 Markets, Earn2Trade, MyFundedFX, and Smart Prop Trader - to help younavigate this investment frontier
Prop Trading Market in theUS
Proptrading is a significant and popular segment of the retail investment market inthe United States, with many well-known platforms originating there. Thesefirms' services typically follow a similar pattern: traders pay a fee toparticipate in a "challenge" on a demo account designed to assesstheir trading skills.
If theymeet the set profit targets, they can advance to higher tiers, earning a shareof generated profits (usually between 60-90%), and eventually become "fundedtraders,” receiving real funds from the firm to work with. This model attractsretail investors because they can manage capital ranging from $20,000 to$100,000 for just a few hundred dollars.
However,American prop firms and those serving US clients have come under regulatoryscrutiny this year. As a result, MetaQuotes has preemptively revoked licensesfor its MetaTrader platform from many firms, causing them to suspend servicestemporarily or permanently to clients in this region.
Nevertheless,several firms have emerged unscathed or experienced no issues at all. Amongthem are E8 Markets, Earn2Trade, MyFundedFX, and Smart Prop Trader. In the table at the beginning of the article, we provide a detailed comparison of these companies' offers. Below, we present some basic information about their operations.
E8 Markets Funded Accountup to $400K
The firstcompany in our comparison is E8 Markets, which gives traders the flexibility tochoose challenges tailored to their strategy. You can opt for a one-, two-, orthree-step evaluation process within an MT5 or Match-Trader demo account withaccount balances ranging from $10,000 to $400,000, maximum drawdowns from 6-14%,and payout shares from 40-95%.
Theconditions the trader chooses will impact the final price of joining thechallenge, which ranges from $34 to over $2,000. The upper challenges are amongthe most expensive in our comparison, but no other prop firm offers an accountwith such a large capital.
Theplatform claims that the average waiting time for a payout is 10 hours, and onaverage, profitable traders withdraw $4,500. On Trustpilot, it has nearly 1,700reviews and an overall rating of 4.7.
The companyalso managed to navigate the recent turbulent period in the prop firm industrywithout being forced to make any major changes or suspend operations.
Simplified signup process is now deployed. Thank you for your valuable feedback! Customize your success. pic.twitter.com/IWAa8NM5xd
— E8 Markets (@E8Markets) May 22, 2024
Earn2Trade, over 7 Yearsof Experience
It is definitely the longest-running prop trading firm in our comparison and the only one that focuses entirely on futures trading available on the CME exchange withoutaccess to FX transactions.
It offersrelatively cheap challenges, with a fee of $275 for a $200,000 account.Interestingly, profit targets and maximum drawdowns are not percentages but dollar values. For the cheapest $25K challenge, the dailycapital drawdown cannot exceed $550, and the total cannot exceed $1,500.
Evaluationalso takes place on demo accounts, after which Earn2Trade provides theopportunity to become a "Funded Futures Trader.” The company recentlyintroduced a new evaluation path where the maximum account value is $400,000,with a maximum drawdown of $20,000.
Like E8Markets, Earn2Trade also did not have any major issues in the recent chaos ofthe prop firm industry. It also has a high Trustpilot rating of 4.7 with 2,100reviews. However, it does not use MetaQuotes platforms and focuses onfutures trading rather than CFDs.
👣 Before switching to futures, John gained experience trading both small and large-cap stocks, as well as ETFs.
— Earn2Trade ® (@earn2trade) May 22, 2024
🔎 Currently, he specializes in trading E-mini Nasdaq 100 and E-mini S&P 500 futures.
🚀 His strategy is mainly based on breakout trading, where he identifies a… pic.twitter.com/4hrLx9aYON
MyFundedFX, The CheapestChallenge
Althoughthe price difference between the cheapest $5K challenge in E8 Markets and MyFunded FX (MFF) is only $0.4, it has the cheapest evaluation process options inits offer.
Similar toits predecessors, the investor can choose from several types of virtual accounts challenges, consisting of one, two, or three consecutive stages.Available accounts range from $5,000 to $300,000, and trading can be based onDXTrade, cTrader, and Match-Trader platforms, with MetaTrader 5 also availablefor traders outside the USA.
As anadd-on to each challenge, the investor can choose the "profit boost"or "rapid withdrawal" option, but they increase the fee by 20% each.
The companyclaims that in 2024 alone, it made over $10 million payouts, with thehighest single payout being nearly $75,000. On Trustpilot it gathered 1,500reviews and a final score of 4.3.
Unlike itspredecessors, it did not pass through the February turmoil unscathed. A fewmonths ago, MyFundedFX announced that it had to suspend support for United States clients using the MT5 platform. However, just a weeklater, the company informed that it had started migrating accounts to analternative platform, opting for DXtrade.
Welcome back to MyFundedFX Vietnam and Pakistan! https://t.co/UFPOYNMv6r
— MyFundedFX (@MyFundedFX) May 28, 2024
Smart Prop Trader Offersthe Highest Leverage
Smart Prop Trader will certainly be an interesting option for retail investors looking for high financial leverage and the highest allowable drawdown. Themaximum available leverage on FX pairs is 100:1, and the total drawdown withselected challenges can be up to 12%.
Likeits predecessors, it has a high rating on Trustpilot, scoring 4.7 out of 2500reviews.
However,compared to the competition, the profit splits will be more modest, up to 75%. Smart Prop Trader also has the lowest maximum funded accountvalue of all the compared companies, which is $100,000.
On the plusside, the company does not impose a minimum number of trading days to reach thechallenge goal, whereas other companies require a minimum of one to severaldays.
AlthoughSmart Prop Trader had some problems in mid-February due to the suspension ofthe MetaQuotes license, it quickly informed about changing the brokers itworked with and adding new platforms. In the migration, it focused onintegration with cTrader from Spotware Systems.
— Smart Prop Trader (@SmartPropTrader) May 22, 2024We are still celebrating the launch of cTrader coupled with our Pro Challenge model! 🎯
To continue the celebration, we will be awarding one lucky customer a free $100K cTrader Account based on a drawing from the next 100 purchases. Multiple entries allowed!
Use promo code… pic.twitter.com/LKQVjeJRYr
Which Prop Firm Should YouChoose?
It is difficult to definitively state which prop trading firm offers the best, as each has unique strengths and caters to different types of traders.
Forexample, E8 Markets stands out for offering the widest range of account sizes,from $5K to $400K, giving traders flexibility in choosing the capital they wantto work with. They also provide a high profit split of up to 95%, among the highest in the industry.
MyFundedFXalso offers a wide range of account sizes, from $5K to $300K, with competitivefees starting at just $33.6. They support multiple trading platforms, includingDXTrade, cTrader, Match-Trader, and MT5 for non-US clients.
On theother hand, Earn2Trade is unique in its focus on futures trading, making it anattractive option for traders specializing in this asset class. They offer astraightforward pricing structure, with fees ranging from $75 to $275 foraccount sizes between $25K and $200K.
Smart PropTrader stands out for offering the highest leverage among the four firms. Thiscan be particularly appealing to traders who employ high-risk, high-rewardstrategies. Smart Prop Trader also has a straightforward profit targetstructure.
If you wantto explore other alternatives, check out the Finance Magnates’ review offour FX/CFD brokers that have also been offering prop trading services forseveral months. They provide greater security guarantees thanks to regulations.
The worldof prop trading has taken the US by storm, offering retail investors theopportunity to manage substantial capital with a small upfront fee. Despiterecent controversies and market turmoil, prop firms continue to attracthundreds of thousands of clients. But what does their offering look like, andwhich firms have the most trust?
Join us aswe dive into the prop trading market in the US and compare four prominent firms- E8 Markets, Earn2Trade, MyFundedFX, and Smart Prop Trader - to help younavigate this investment frontier
Prop Trading Market in theUS
Proptrading is a significant and popular segment of the retail investment market inthe United States, with many well-known platforms originating there. Thesefirms' services typically follow a similar pattern: traders pay a fee toparticipate in a "challenge" on a demo account designed to assesstheir trading skills.
If theymeet the set profit targets, they can advance to higher tiers, earning a shareof generated profits (usually between 60-90%), and eventually become "fundedtraders,” receiving real funds from the firm to work with. This model attractsretail investors because they can manage capital ranging from $20,000 to$100,000 for just a few hundred dollars.
However,American prop firms and those serving US clients have come under regulatoryscrutiny this year. As a result, MetaQuotes has preemptively revoked licensesfor its MetaTrader platform from many firms, causing them to suspend servicestemporarily or permanently to clients in this region.
Nevertheless,several firms have emerged unscathed or experienced no issues at all. Amongthem are E8 Markets, Earn2Trade, MyFundedFX, and Smart Prop Trader. In the table at the beginning of the article, we provide a detailed comparison of these companies' offers. Below, we present some basic information about their operations.
E8 Markets Funded Accountup to $400K
The firstcompany in our comparison is E8 Markets, which gives traders the flexibility tochoose challenges tailored to their strategy. You can opt for a one-, two-, orthree-step evaluation process within an MT5 or Match-Trader demo account withaccount balances ranging from $10,000 to $400,000, maximum drawdowns from 6-14%,and payout shares from 40-95%.
Theconditions the trader chooses will impact the final price of joining thechallenge, which ranges from $34 to over $2,000. The upper challenges are amongthe most expensive in our comparison, but no other prop firm offers an accountwith such a large capital.
Theplatform claims that the average waiting time for a payout is 10 hours, and onaverage, profitable traders withdraw $4,500. On Trustpilot, it has nearly 1,700reviews and an overall rating of 4.7.
The companyalso managed to navigate the recent turbulent period in the prop firm industrywithout being forced to make any major changes or suspend operations.
Simplified signup process is now deployed. Thank you for your valuable feedback! Customize your success. pic.twitter.com/IWAa8NM5xd
— E8 Markets (@E8Markets) May 22, 2024
Earn2Trade, over 7 Yearsof Experience
It is definitely the longest-running prop trading firm in our comparison and the only one that focuses entirely on futures trading available on the CME exchange withoutaccess to FX transactions.
It offersrelatively cheap challenges, with a fee of $275 for a $200,000 account.Interestingly, profit targets and maximum drawdowns are not percentages but dollar values. For the cheapest $25K challenge, the dailycapital drawdown cannot exceed $550, and the total cannot exceed $1,500.
Evaluationalso takes place on demo accounts, after which Earn2Trade provides theopportunity to become a "Funded Futures Trader.” The company recentlyintroduced a new evaluation path where the maximum account value is $400,000,with a maximum drawdown of $20,000.
Like E8Markets, Earn2Trade also did not have any major issues in the recent chaos ofthe prop firm industry. It also has a high Trustpilot rating of 4.7 with 2,100reviews. However, it does not use MetaQuotes platforms and focuses onfutures trading rather than CFDs.
👣 Before switching to futures, John gained experience trading both small and large-cap stocks, as well as ETFs.
— Earn2Trade ® (@earn2trade) May 22, 2024
🔎 Currently, he specializes in trading E-mini Nasdaq 100 and E-mini S&P 500 futures.
🚀 His strategy is mainly based on breakout trading, where he identifies a… pic.twitter.com/4hrLx9aYON
MyFundedFX, The CheapestChallenge
Althoughthe price difference between the cheapest $5K challenge in E8 Markets and MyFunded FX (MFF) is only $0.4, it has the cheapest evaluation process options inits offer.
Similar toits predecessors, the investor can choose from several types of virtual accounts challenges, consisting of one, two, or three consecutive stages.Available accounts range from $5,000 to $300,000, and trading can be based onDXTrade, cTrader, and Match-Trader platforms, with MetaTrader 5 also availablefor traders outside the USA.
As anadd-on to each challenge, the investor can choose the "profit boost"or "rapid withdrawal" option, but they increase the fee by 20% each.
The companyclaims that in 2024 alone, it made over $10 million payouts, with thehighest single payout being nearly $75,000. On Trustpilot it gathered 1,500reviews and a final score of 4.3.
Unlike itspredecessors, it did not pass through the February turmoil unscathed. A fewmonths ago, MyFundedFX announced that it had to suspend support for United States clients using the MT5 platform. However, just a weeklater, the company informed that it had started migrating accounts to analternative platform, opting for DXtrade.
Welcome back to MyFundedFX Vietnam and Pakistan! https://t.co/UFPOYNMv6r
— MyFundedFX (@MyFundedFX) May 28, 2024
Smart Prop Trader Offersthe Highest Leverage
Smart Prop Trader will certainly be an interesting option for retail investors looking for high financial leverage and the highest allowable drawdown. Themaximum available leverage on FX pairs is 100:1, and the total drawdown withselected challenges can be up to 12%.
Likeits predecessors, it has a high rating on Trustpilot, scoring 4.7 out of 2500reviews.
However,compared to the competition, the profit splits will be more modest, up to 75%. Smart Prop Trader also has the lowest maximum funded accountvalue of all the compared companies, which is $100,000.
On the plusside, the company does not impose a minimum number of trading days to reach thechallenge goal, whereas other companies require a minimum of one to severaldays.
AlthoughSmart Prop Trader had some problems in mid-February due to the suspension ofthe MetaQuotes license, it quickly informed about changing the brokers itworked with and adding new platforms. In the migration, it focused onintegration with cTrader from Spotware Systems.
— Smart Prop Trader (@SmartPropTrader) May 22, 2024We are still celebrating the launch of cTrader coupled with our Pro Challenge model! 🎯
To continue the celebration, we will be awarding one lucky customer a free $100K cTrader Account based on a drawing from the next 100 purchases. Multiple entries allowed!
Use promo code… pic.twitter.com/LKQVjeJRYr
Which Prop Firm Should YouChoose?
It is difficult to definitively state which prop trading firm offers the best, as each has unique strengths and caters to different types of traders.
Forexample, E8 Markets stands out for offering the widest range of account sizes,from $5K to $400K, giving traders flexibility in choosing the capital they wantto work with. They also provide a high profit split of up to 95%, among the highest in the industry.
MyFundedFXalso offers a wide range of account sizes, from $5K to $300K, with competitivefees starting at just $33.6. They support multiple trading platforms, includingDXTrade, cTrader, Match-Trader, and MT5 for non-US clients.
On theother hand, Earn2Trade is unique in its focus on futures trading, making it anattractive option for traders specializing in this asset class. They offer astraightforward pricing structure, with fees ranging from $75 to $275 foraccount sizes between $25K and $200K.
Smart PropTrader stands out for offering the highest leverage among the four firms. Thiscan be particularly appealing to traders who employ high-risk, high-rewardstrategies. Smart Prop Trader also has a straightforward profit targetstructure.
If you wantto explore other alternatives, check out the Finance Magnates’ review offour FX/CFD brokers that have also been offering prop trading services forseveral months. They provide greater security guarantees thanks to regulations.
