Best Instant Funding Prop Firms
If you’re considering a career in forex trading, you may have come across the term “instant funding prop firms.” But what are these firms, and how do they function?
An “instant funding prop firm” is a type of financial institution that provides immediate funding to businesses and individuals in exchange for a subscription or once-off fee. This type of firm is typically used by individuals or small businesses that need quick access to capital. Instant funding prop firms typically are thought of as providing access to trading capital quicker than the likes of challenge prop firms where traders have to undergo more steps before being funded.
Advantages of using an instant funding prop firm
If you’re looking to get into the world of prop trading, using an instant funding prop firm can be a great option. Here are some of the advantages of using an instant funding prop firm:
- You won’t need to be concerned about finding the money to fund your trading account. The capital you need to trade will be available in your trading account to you by an instant funding prop firm.
- You’ll typically have access to other traders and resources. An instant funding prop firm can give you access to experienced traders or educational resources that can offer guidance and support.
- You’ll be able to trade a variety of different instruments. Most firms allow you to trade any currency pair you like along with commodities. Traders can also trade futures with some firms.
- You’ll have the opportunity to learn and grow as a trader. An instant funding prop firm will give you the chance to improve your trading skills and knowledge.
How to find the best instant funding prop firm
There are a few things to look for when trying to find the best instant funding prop firm. The first is to make sure that the firm has a good reputation. There are a few ways to research this, such as reading online reviews or asking other traders for their opinion.
Another important factor is how much experience the firm has. It’s generally a good idea to go with a firm that has been around for a while and has a good track record.
Finally, it’s important to make sure that the firm offers competitive prices. This means that they should be able to provide you with the capital you need at a reasonable price (normally in the form of a once off fee or monthly subscription).
By keeping these factors in mind, you should be able to find the best instant funding prop firm for your needs.
Let’s look at a few good instant funding prop firms:
BluFX
BluFX permits all of its traders to hold overnight positions, which is a benefit to consider while making a decision. If you require more capital but aren’t troubled by trading time constraints (Mon-Fri 6 am-9 pm UTC), BluFX’s Lite plan might be for you. This restricts you to trading just during the London and New York market sessions.
Restrictions like this, as well as the no account growth restriction, apply to the Lite package but are removed in the more expensive Pro version.
BluFX intends to offer you with the funding you require as soon as the charge is received, with no demo challenge. The platform’s overall leverage is 1:3 for the non-anniversary packages and 1:5 for the anniversary packages, and their swap-free plans are AAOFI Sharia compliant and Islamic trader friendly gif that is something you are searching for.
There are six options in total, two of which are swap-free Lite (£139 for $25,000) and Pro (£329 for $50,000), while the others include exchange charges and are Lite (£99 for $25,000) and Pro (£249 for $50,000). Additionally, they also have an Anniversary Package with Basic (£269 for £20,000) and Swap Free (£349 for £20,000) with increased leverage for these packages offered. These fees have to be paid on a monthly basis until you achieve the 10% profit target three times.
Other benefits of working as a Fund Manager include the elimination of trading limits, the elimination of minimum withdrawal criteria, and the possibility to scale up to manage $1 million in trading money with consistent performance.
The platform does not support hedging, which means you cannot take opposing positions on the same currencies. According to the site, this is prohibited trade activity. Profits are split 50/50 because the firm takes the extra risk of giving you instant trading funds without any appraisals.
City Traders Imperium
Profit splits at City Traders Imperium begin at 50% and can increase to 100% if the trader consistently wins. You can obtain funds from the platform directly by paying a non-refundable one-time fee of £999 for a $20,000 trading balance.
If you are more confident in your abilities and require a larger capital, you have three other options. Pay £1,799 for $40,000 in trading capital, £2,199 for $50,000, or £3,099 for $70,000 in trading capital. If you fail to follow the rules with a direct funded account or after becoming a portfolio manager, CTI offers a 10% discount if you desire to take an evaluation test and resume your trading career.
CTI offers a lot of help and instruction to their traders in order for them to have the best experience possible, and their scaling strategy allows your account to double every time you hit the 10% profit target. The capital allocation with City Traders Imperium has a maximum limit of USD$4 million.
When you pay the costs for direct funding, you are classified as a portfolio manager. And, as a Portfolio Manager, the trading regulations require that the maximum downside be less than 5%, with leverage limited to 1:10.
As part of the plan, you can trade currency, gold, and indexes, trade during news releases, and keep positions over the weekend and overnight. Trading with Expert Advisors (EA) is also permissible under the laws.
The 5%ers
The 5%ers’ quick funding account concept includes a low-risk plan in which you can apply risk measures to your trading in exchange for modest targets and additional funding, as well as an aggressive strategy in which you can employ high leverage with no forced stop loss orders.
Profit targets for scaling your account are established at 10% for the low-risk program and 25% for the aggressive program. You can trade FX and gold as part of the platform, hold trades overnight or over the weekend, and trade news events if you wish. This applies regardless of your plan.
You can also utilize any algorithm to assist you with your trade. As long as you meet your profit targets, The 5%ers will continue to scale your account up to a maximum of $4 million.
Both options begin with a €235 non-refundable cost for $6,000 in funding, and you may spend up to €745 to gain access to an account with a $20,000 trading amount. On the $6,000 account If you meet your profit targets of 6.2% for the low-risk plan and 12% for the aggressive plan, your balances will be 400% higher.
The payment split is 50%, which makes sense given that you get access to a funded trading account with real money as soon as you pay the one-time cost. Other factors influencing your decision to use the low-risk model (1:10 leverage, mandatory stop losses, 180 days to achieve profit target) or the aggressive model (1:30 leverage, no necessary stop losses, 60 days to achieve profit target) include your trading style.
My Forex Funds
Even if there are other plans that are better suited to traders who are either beginners or seeking a challenge, My Forex Funds’ Accelerated plan is for you if you want quick funding. This plan gives you access to trade on a live account from day one.
Even within the Accelerated plan, there are two options: the Conventional plan, which requires 10% profit to accomplish the next milestone, allows for a maximum drawdown of 5% of the initial account balance, and has available leverage of 1:50. The plans begin at $99 (refundable) for $2,000 capital with guaranteed funding of $324,000 and progress to $2,450 (refundable) for $50,000 capital with guaranteed funding of $1,350,000.
For the Emphatic plan to meet the next fundraising milestone, the plan emphasizes a 20% profit target. It also has a maximum withdrawal of 10% of the initial account amount and a leverage of 1:100. The plans range in price from $198 for $2,000 capital with guaranteed funding of up to $486,000 to $4,900 for $50,000 capital with guaranteed funding of up to $2,020,000. The once-off fee is refunded when you make your first withdrawal.
The platform only supports MetaTrader 4 and MetaTrader 5, which may be restrictive for some traders. Trading education is very minimal, taking the form of blog articles rather than well-designed training modules. However, according to Trustpilot they have one of the best reputations and most reviews for any prop firm we’ve seen.
Their Emphatic plan’s scaling strategy is a little more aggressive than the industry norm, requiring a 20% profit target to scale to 1.5x or 2x depending on the phase you are in. The website allows you to trade FX, cryptocurrency, and commodities, however equity trading is not permitted due to the structure of these accounts.
The 50% profit split is modest by industry standards, but it is consistent with the majority of other instant funding trading firms. In terms of customer support, you can contact them via chat, email, or by creating a ticket.
Conclusion
All in all, if you are looking for a way to get into the world of prop trading with little to no money of your own, then an instant funding prop firm may be the right option for you. Just make sure that you do your research and only work with a reputable firm.
