List of Best Prop Firms for the United States

Prop or proprietary trading has been immensely popular in recent times. Before we get into the depth of prop trading let us understand what it is for those who don’t have a comprehensive knowledge of the same. In prop trading, a commercial bank or a financial firm trades directly using its finances, rather than using the client’s money. Prop trading is popular across the globe, and it is legalized in the United States when it is conducted through a registered prop firm. This article will deal with the best prop firms in the United States, alongside their pros, and cons. 

What are the Best Prop Firms in the United States?

Let us look into some of the best prop trading firms in the United States at length, and learn about their pros, and cons, alongside other vital details. 

DNA Funded

The first popular prop firm we mention, which is apt for USA traders is the DNA Funded. To become a trader with DNA Funded you need to purchase the challenge they offer, demonstrate your trading skills, and then begin trading. What’s more interesting is DNA Funded is a broker-backed firm offering you perfect trading conditions that may cater to your prop trading needs. 

Pros

The advantages are stated below:

• Broker-backed prop firms have an added advantage as it result in reduced financial risk, increased cash availability, and a more organized trading environment. DNA Funded is a perfect example of a broker-backed firm, putting traders at an added advantage. 
• DNA Funded has a profit split of 80% by default which may increase to 90% if you’ve bought an add-on. 
• They process payouts quite fast in a short span, as much as between one and four days. 
• DNA Funded has a transparent payment process. They don’t charge you any monthly fees. It’s only a one-time payment during the challenge, and evaluation process. 

Cons

The drawbacks of DNA Funded are as follows:

• DNA Funded doesn’t use the trading platforms MT4, and MT5. 
• Many traders claim that DNA Funded has limited customer support to assist its customers, which is perhaps a bane.

DNA Funded At A Glance
Prop Firm Scores	97
Challenge Types	Single Helix, Double Helix, Pro Challenge (that must be completed in 10 calendar days)
Trading Platforms	Trade Locker, DX Trade, TradingView,
Profit Payout Percentage	80-90%
Average Fees	$49 -$1209 (on average, depending on the challenge type you undertake)

BrightFunded

If you plan to invest with BrightFunded, you will be in for simple strategies and abundant trading opportunities. You get a demo account wherein you may display your skills while cracking their two-step evaluation process. Upon completing their evaluation, traders can start earning real money.

Pros

The advantages of BrightFunded are stated below: 

• Upon completing their evaluation, traders get a new demo account to trade where they may earn profits to as much as 100% in real money.
• You get your first payout in seven days after you’ve completed your first trading.  
• The average payout processing time is pretty quick – in just a short span of four hours. 
• The podcast interviews published every month give readers an insight into the latest trends, and strategies of the trading markets.
• BrightFunded’s loyalty program Trade2Earn gives traders scope to earn rewards for their dedication, and loyalty, irrespective of their trading results. 

Cons

The flipsides of BrightFunded are stated below: 

• There isn’t any free trial for traders. They have to directly participate in the challenge. This could be a little difficult for traders, particularly those who are new to prop trading. 
• They don’t use some of the prominent trading platforms like MT4, and MT5. 

BrightFunded At A Glance
Prop Firm Scores	95
Challenge Types	Two-phase challenge (First phase: Traders must meet a profit target of 8%, a maximum daily loss of 5%, and a drawdown of 10%; Second Phase: A maximum profit target of 5% must be met)
Trading Platforms	Bright Funded’s own prop trading platform
Profit Payout Percentage	Starts at 80% and may scale up to 100%.
Number of trading days	Five consecutive trading days for both challenges

FXIFY

Another prop trading firm allowing US traders to trade is FXIFY. It offers three distinct challenges based on the needs and abilities of traders with varying capacities. The one-phase challenge requires a profit target of 10% – perfect for skilled traders. 

The two-phase challenge holds good for disciplined traders, also needing a profit percentage of 10% to be achieved in the first phase, and a 5% target in the second phase. The three-step challenge is slow-paced, apt for beginners, or for those traders who don’t wish to take too much risk. The profit target to be achieved per phase in the three-step challenge is 5%. 

Pros

Here are the pros of FXIFY to consider: 

• Traders can withdraw their first payout on demand. This can happen as soon as your first trade on your live account gets closed.
• FXIFY gives its traders the privilege of receiving profit splits of as much as 90% on their live accounts.
• Their payout options are flexible, and you have several options to choose from.
• FXIFY uses prominent trading platforms like DX Trade, MT4, and MT5. 
• You can trade for a minimum of five days, but the maximum number of days to trade is unlimited.

Cons

• Though they have a streamlined trading process, they are restrictive in some ways. One must generate a return of at least 10% within a particular timeframe. They shouldn’t exceed the maximum drawdown limit in doing the same. 
• Their payment options are considered limited. 

FIXFY At A Glance
Prop Firm Scores	83
Challenge Types	Instant challenge, one-step challenge, two-step challenge, three-step challenge
Trading Platforms	MT4, MT5, DX Trade, Trading View
Profit Payout Percentage	As high as 90%
Average Fees	$59-$1999 for one-step, and two-step challenges; $39-$1599 for the three-step challenge; $69-$1749 for the instant challenge

Blueberry Funded

Another popular broker-backed prop trading firm on our list is Blueberry Funded. You need to complete three simple steps after which you may start earning. Choose the evaluation, complete it, and begin trading. You must also sign the trader’s contract and finish the KYC process. 

Pros

The advantages of Blueberry Funded are as follows:

• This prop firm is backed by one of the world’s leading brokers. 
• They are versatile, providing trading programs for both the novice and the experienced. 
• Blueberry Funded scales up your balance to around 25% every three months.
• You will get your earnings in every fourteen days. The payment processing time is within two business days.
• The challenge fees are quite low, starting at a minimum of $40. 

Cons

The drawbacks of Blueberry Funded are stated below: 

• They have limited payment methods.
• Some traders have even mentioned the lack of proper educational resources to assist them better.

Blueberry Funded At A Glance
Prop Firm Scores	83
Challenge Types	One-step challenge, two-step challenge, rapid challenge
Trading Platforms	DX Trade, MT4, MT5
Profit Payout Percentage	80-90% (depending on one’s performance)
Average Fees	$40-$1000

Funded Trading Plus

If you have selected Funded Trading Plus as your prop firm choice, you will be provided with different challenge types that include one-phase, two-phase, and instant. You may choose the one which suits you the best. Their aim is to create a suitable trading environment to thrive, and trade seamlessly. 

Pros

The advantages of Funded Trading Plus are as follows: 

• It is claimed to be one of the most trusted funded trading firms in the prop trading industry.
• The scaling program they offer is considered the best, and one of the most affordable as well.
• You can withdraw your profits every week. 
• Their rules are quite simple, and flexible, easy to follow.
• You don’t have to pay any monthly fee, it’s just a one-time fee that you must pay. 
• It offers a maximum leverage of 30:1. 
• There is 24/7 customer support via live chat and email. 

Cons

The drawbacks of Funded Trading Plus include the following: 

• There isn’t any trial version. 
• The instant funding process has a higher fee.
• The DX Trade platform has connectivity issues.

Funded Trading Plus At A Glance
Prop Firm Scores	77
Challenge Types	Instant, one-step, two-step
Trading Platforms	MT4, MT5, cTrader, DX Trade, Match Trader
Profit Payout Percentage	80-90%
Average Fees	$119-$4500 (depending on the challenge type you avail of)

City Traders Imperium

City Traders Imperium claims to provide a reliable platform to trade in a risk-free manner. You have several funding programs to choose from like the one-step, two-step, instant, and instant pro. You can select the one as per your ability.

Pros

Here are some of the pros to make note of: 

• They have four different funding programs according to the capacity, and ability levels of different traders. 
• One of the biggest boons is that you get paid within 24 hours. The payouts are generated on demand. 
• There are add-on features sans any additional cost.
• You aren’t time-bound and may trade as per your will.
• The profit shares are quite high. 

Cons

The disadvantages of City Traders Imperium are as follows: 

• Trading is limited to just two platforms. 
• The drawdown limits are quite stringent.

City Traders Imperium At A Glance
Prop Firm Scores	72
Challenge Types	One-step, two-step, Instant, Instant Pro
Trading Platforms	MT5, Match Trader
Profit Payout Percentage	80-100%
Average Fees	$39 – $4799 (depending on the program you choose)

Top Step

Top Step provides three different funded account sizes. If you plan to trade with Top Step, you can for sure expect fast payouts. Top Step process payouts each day. That’s an advantage indeed.

Pros

The pros of Top Step are given as below: 

• Top Step is quite quick in processing your payouts. 
• You can subscribe to Top Step TV for free and get to interact with their experts for valuable tips on trading. You can subscribe to Top Step TV on YouTube as well. 
• You can trade on Topstep sans any commission. 
• They have 24/7 support via phone, email, and live chat. 

Cons

The disadvantages of Top Step are as follows: 

• The monthly data fees are quite high. 

Top Step At A Glance
Prop Firm Scores	83
Challenge Types	Two-step
Trading Platforms	TopstepX, TradingView, Ninja Trader
Profit Payout Percentage	100% in the beginning and then 90%
Average Fees	$149 (activation fee)

Seacrest Funded

The transparent payout policies, and flexible rules, and regulations make Seacrest an ideal prop firm to trade with. You have to follow the simple rules, after which you may prop trade.You will be given a demo account to participate in the challenge. Once you have passed the initial challenge, you can move to the verification step, you can get into consistent trading.

Pros 

Let’s look at the pros in detail: 

• The payout cycles are pretty quick and are processed in a span of every fourteen days. 
• Its priority is maintaining transparency in trading, and payouts as well. 
• All the phases and plan types have unlimited trading days. 
• It has different trading styles to suit the skills, and abilities of various traders. These include 1-step, 2-step, 2-step Max, 3-Step. 
• They have different account sizes, from $10K to $ 100 K. 
• It has low forex spreads. 

Cons

The drawbacks of Seacrest Funded are as follows: 

• Those trading on the cTrader platform have to pay high commission fees. 
• The maximum leverage is 30:1. 

Seacrest Funded At A Glance
Prop Firm Scores	65
Challenge Types	One-step, two-step, three-step
Trading Platforms	MT5, cTrader, DX Trade, Match Trader
Profit Payout Percentage	80-90%
Minimum Withdrawal Amount	$65

MyFundedFutures

Here we have another important prop firm on our list for prop traders to trade.

Pros

The advantages of MyFundedFutures are stated below:

• It has a 100% profit split to $10k and 90% thereafter.
• MyFundedFeatures has 24/7 customer service support available for the convenience of its traders. 
• It just has one minimum trading day.
• The fee structure is quite transparent, and the payout processing system is quite quick. 
• There isn’t any fixed limit for trading that gives the traders immense flexibility to trade. 
• You could get paid for a single trading day. 

Cons

The flipsides of MyFundedFutures are stated below: 

• There isn’t any scaling program. 
• Some platforms charge monthly data fees. 

MyFundedFutures At A Glance
Prop Firm Scores	58
Challenge Types	One-step, two-step
Trading Platforms	Ninja Trader, Tradovate, TradingView
Profit Payout Percentage	80-90%
Minimum Withdrawal Amount	$65

Prop Trading Challenges – A Detailed Analysis

A prop trading challenge is an evaluation designed to test your trading skills. This focuses on the trader’s ability to meet the profit targets. At the same time, the risks must be managed effectively. Most firms have a one or two-phase evaluation. 

• The first phase is the initial evaluation process where a profit target of 8-10% must be achieved without exceeding your drawdown limits.
• Phase 2 is the verification process you enter upon completing the first phase. This mostly has a lesser profit compared to the first phase – around 5%.

Some of the key components of a challenge include: 

• The profit target to achieve during a particular challenge.
• The drawdown limits which means the drop in your account value from high to low. 
• The time limits that are needed to meet some challenges. Some challenges can be done over an unlimited time. 
• The trading rules include weekend trading, risk management techniques, and so on. 

Through these challenges, your skill and capacity are evaluated. These tests check how well and aptly you meet the profit targets and your capacity to manage risks. When you pass the evaluation skills, this means you can trade responsibly with the firm’s capital.

Know the Pros and Cons of Prop Trading

Prop trading comes with a lot of advantages helping you reap lucrative profits. At the same prop trading comes with some risks, and challenges, as well. 

The Pros

Let us look at the pros of prop trading at first:

• Commercial banks or financial institutions that indulge in prop trading get an increased quarterly and annual profit. 
• When an investment bank or brokerage firm trades on their client’s behalf they earn revenues as fees and commissions. 
• It helps traders follow a disciplined approach when it comes to trading. 
• The scaling options in prop trading help increase the account sizes. 
• The traders get the privilege of enjoying increased profit splits. 

The Cons

The drawbacks of prop trading are as follows:

• Some rules and drawdown limits are pretty strict to follow. 
• Certain trading styles may have restrictions.
• Some challenges have time limits that could be difficult to follow.
• The performance targets in some firms are pretty strict. When you fail to meet them, you won’t be able to continue trading with the firm. This could be quite challenging for newcomers. 

How Do You Begin Prop Trading Challenge?

Beginning a prop challenge may result in several difficulty levels. However, when you break them into simple steps, you’ll find the process easier. You have to understand the rules well, prepare properly, and even have a well-devised plan. This way, you may complete the challenges successfully, and earn good profits. Here’s an elaboration of how to start:

• Select your prop firm. This is the most crucial thing to do. When choosing a prop firm, ensure that you have done your research well. Read the reviews of other traders online. Also select firms with transparent payment rules, a good profit percentage, and flexible policies. Moreover, the firms using prominent platforms like MT4, and MT5 are always a better choice. 

• Complete the formalities. Once you’ve selected the firm, review the rules, and regulations, sign up for the challenges, and also learn about the drawdown limits, profit targets, leverages, etc.

• Choose the instruments to trade with. These may include forex pairs, commodities, indices, etc. 

• Practice trading: Some prop firms, though not all, provide you with a demo account to trade with. Many even make way for a free trial for the trader’s convenience. If this happens, then it will help you master your skills a bit before you step into real trading. 

• Complete your challenge: Prop trading firms vary from one to the other when it comes to providing challenges to traders. The challenges may vary from one-step to two-step and even three-step. Complete the challenges, and then proceed to trade on your funded account.

Conclusion

Hope this comprehensive list of the top firms to trade within the United States helps you choose tactfully. When you have done your research well, and have understood the nitty-gritty of prop trading aptly, selecting a prop firm, and trading skilfully won’t be a mammoth task indeed. 

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