In our last article, we discussed the best prop firm for synthetic indices, today, we will be looking at prop firms in South Africa.
Proprietary trading firms undoubtedly have a global presence, accepting traders from any country and providing access to significant trading funds provided they meet the firm’s proprietary trading challenge.
Notably, geographic location is not a deciding issue when looking for proprietary trading firms in South Africa or the United States, since these organizations accept traders from all over the world.
Your ability to properly navigate and overcome the obstacle of proprietary trading is what matters most.
I’ll include some respectable proprietary trading companies in this post, so you can join them with confidence knowing that you’ll have access to a lot of money once you overcome their challenge.
CHEAPEST PROP FIRM
After experimenting with various proprietary trading firms, I’ve found that Maven stands out as the most cost-effective option, and here’s the reasoning behind this choice.
- It goes as low as $35 for a $2000 access to funds.
- Maximum trading days > infinite
- Maximum profit split> 80%
- Minimum trading days >0
- Payout Frequency > 14
PROP FIRMS IN SOUTH AFRICA
Here are lists of prop firms you can sign up for if you are in South Africa:
MAVEN: Maximum trading days >infinite, Minimum trading day > 0, Minimum profit split is at 80%. See more.
FTMO: For traders, FTMO created a special two-step evaluation process. This evaluation process, which is designed especially to find trading talents, comprises an FTMO Challenge and Verification.
RELATED: PROP FIRMS IN CANADA
FTMO PROP FIRM
FTMO has established a presence in the proprietary trading industry since 2015, boasting an impressive track record.
They have disbursed more than $167 million to their registered traders and consistently maintain over 16 million open trades every month.
With a global network of traders spanning over 180 countries, FTMO stands out for its swift processing, ensuring an average payout time of just 8 hours.
Discover more about FTMO by exploring its offerings.
HOW MUCH DO PROP FIRMS CHARGE?
The cost of a prop firm is entirely based on your selection, as prices differ throughout prop firms. Before selecting a prop firm, you should think about your trading background and budget.
You may begin by using MAVEN.
WHICH IS THE MOST TRUSTED PROP FIRM
There are many trusted Prop firms, this is known because of what the trading community is saying about these prop firms.
A few prop firms trusted by traders around the globe are:
- FTMO
- Maven
- Fundednext
- 5ers
IS FOREX TRADING LEGAL IN SOUTH AFRICA?
Forex trading is legal in South Africa, one thing you should know before signing up with a broker is to be sure they are licensed by the Financial Sector Conduct Authority (FSCA).
LIST OF FOREX PROP FIRMS/ BEST PROP FIRMS FOREX
Find below a list of the best Forex Prop firms we recommend:
FTMO
Since its founding in 2015, FTMO has gained recognition as a leading proprietary trading company. FTMO is distinct because of the special trading service it provides.
After passing a proprietary trading challenge, they give wannabe traders the chance to access large amounts of trading cash.
With the help of this program, traders can trade the company’s capital and pocket a sizable percentage of the gains they make.
FTMO has distributed more than $167 million to registered traders, and they operate in more than 180 nations worldwide.
Their appeal is further enhanced by their 8-hour processing period on average and their dedication to prompt reimbursements.
In the realm of proprietary trading, FTMO stands out due to its emphasis on giving traders funds and support.
THE5ERS
The5ers is a proprietary trading firm known for its distinctive offer to traders. They provide traders with a funded account, allowing them to trade the firm’s capital while sharing the profits.
What makes The5ers unique is their evaluation process, which focuses on risk management and discipline.
Traders need to showcase their skills by completing evaluation phases and demonstrating their ability to manage risk effectively.
Once approved, traders can access capital and retain up to 50 to 100% of the profits they earn. (based on funding program).
The firm emphasizes risk control and ongoing support, making it an attractive choice for traders looking to hone their skills and trade with confidence.
MAVEN
Maven is a prominent proprietary trading firm renowned for its distinctive offer to traders, particularly its affordable challenge fee, which is currently the lowest among prop firms.
This low cost makes it an attractive choice for traders seeking entry into the world of proprietary trading without a significant financial burden.
Maven’s unique approach allows traders to participate in their trading challenge at an exceptionally competitive price.
Upon successful completion, traders gain access to the firm’s capital and the opportunity to retain a substantial portion of the profits they generate, up to 80%.
This cost-effective model enables traders to start trading with minimal upfront investment, significantly reducing the barriers to entry.
Maven’s commitment to affordability and profit-sharing makes it a compelling option for traders looking for a budget-friendly and accessible way to access trading capital and build their trading careers.
FUNDEDNEXT
Trade up to $300,000 to open up opportunities and profit handsomely from a 90% split profit as a fundednext trader.
Working in more than 195 nations, funded next guarantees quick payouts—an average of only five hours—and has paid out over $51 million in total to date.
Funded Next distinguishes itself with the most competitive commissions and raw spread. In the market, Funded Next is a reputable prop firm brand that is acknowledged by authoritative sites such as NASDAQ, Benzinga, Yahoo Finance, Bloomberg, and more.
To take advantage of Funded Next’s trading and earning opportunities, sign up for a free account today.
FREE PROP TRADING FIRMS
Free prop trading organizations have revolutionized the trading industry by providing traders with growth prospects without requiring substantial cash.
FTMO, City Trader Imperium, and The 5%ers are three prominent entities in this domain.
Forex Traders Management Online, or FTMO, provides access to traders worldwide.
They offer a risk-free challenge that lets traders demonstrate their abilities and get access to a funded trading account without having to take a chance with their own money.
It benefits all parties and creates a favorable atmosphere for traders to prosper.
Trading in commodities and FX is the main focus of City Trader Imperium. Through their evaluation program, traders can demonstrate their skills and get a funded account.
The company fosters an environment where traders can grow by emphasizing good risk management and disciplined trading.
The goal of The 5%ers is to assist traders in rising to the top 5% of profitable traders. Their funded trading account program assesses traders based on their risk management techniques and skill sets.
Aspiring traders might use it as a gateway to the world of professional trading.
One benefit of free prop trading firms is that traders won’t have to worry about paying upfront costs for the evaluation procedure.
Now, because there is no financial cost for the trader, this is an appealing proposition for those with low means; nevertheless, the disadvantage is that the profit split is not as advantageous to the trader as it would be with a standard upfront charge paid for a challenge.
Finally, the trader’s use of the funded account is subject to limitations.
