Prop Firms in Forex Ranked by Traders Union, Topstep Claims Top Spot

Cyprus, October 3, 2023 /MarketersMEDIA/ -- Announcement:

Proprietary trading, also known as prop trading, has gained widespread popularity over the past years. It involves an investment made by a financial institution to a prospective trader in pursuit of direct market gain instead of earning small commissions.

Traders Union has ranked the best Forex prop firms for 2023 using its unique set of evaluation standards and real-life assessments.

Press release:

Founded in 2010, Traders Union regularly releases reviews and rankings of the best players in the financial market.

Its ranking of the Best Forex Prop Firms of 2023 shared unbiased information about every platform that made the list, including its advantages and disadvantages, unique features, fee structures, and opportunities.

It has also provided insight detailing how to start working with a prop firm, and how to choose a Forex trading program for those who are just starting out.

How to choose the best Forex prop trading program by Traders Union

Choosing a Forex trading program may sound intimidating, but Traders Union has compiled a list of standards one must check when searching for the best ones.

1. Check out the prop firm’s reputation - consider looking for information on review sites like TrustPilot, and scroll through trader forums, to get the most trustworthy information about a prop firm
2. Consider your trading style - some prop firms offer higher profit splits than others, but their trading instruments might not be suitable for one’s style
3. Signs of long term partnership - find platforms that will be there for the long haul. After all, prop trading can become a full-time career in itself, with promising monetary compensations
4. Cost of entrance - prop firms will not fund you unless they already see the result from your labor. These platforms require traders to pay an “entrance fee” before joining their programs, choose ones that are most favorable to your budget
5. Initial balance - the initial balance funded in an account makes sure you can move at your most comfortable pace, and place bets that lead to huge profits. Go for the one that is most stretched and flexible
6. Profit sharing - some offer up to 90% profit split while others start off at 50%. Traders Union experts advise finding the one that is most suitable to one’s profit goals

Here is how to start working with a prop firm according to TU experts

For those who are just starting out in the proprietary trading space, Traders Union experts advise checking out the following factors.

1. Have a well-tested strategy before starting out - choose between various market strategies namely statistical arbitrage, merger arbitrage, index arbitrage, volatility arbitrage, technical analysis, fundamental analysis, and global macro trading
2.  Research the market - profile and create a shortlist of firms that are most suitable for your goals
3. In-depth research of the prop firm - once the most suitable firm has been selected, TU advise traders to do their due diligence about the platform before committing
4. Pick your choice - if available, traders are always advised to test out first before funding an account

Here are the best Forex prop firms of 2023 according to Traders Union

After a careful assessment, TU has been named the Best Forex Prop Firms of 2023. Topstep has emerged as the top Forex platform during the period, driven by its outstanding reputation, stellar trader support, and generous payouts.

1. Topstep - best for active traders with any trading experience
2. Fidelcrest - offers the industry’s highest profit split up to 90%
3. The5ers - instant account funding and quick account scaling
4. BluFX - instant funding of up to $50,000
5. FTMO - funding up to $400,000 after evaluation process

Other prop firms that made the list are SurgeTrader, Earn2Trade, and The Funded Trader.

About Us: Traders Union is a financial portal providing traders and investors with necessary information to make their endeavors in the financial markets profitable. Our mission is to build a space where traders and investors can quickly find information about the best brokerage companies that offer the most beneficial and comfortable working conditions in the financial markets.

Contact Info:
Name: Peter Halt
Email: Send Email
Organization: Traders Union.
Website: https://tradersunion.com/

Release ID: 89109159