Forex-funded accounts, also known as funded trading or proprietary trading programs, offer new and aspiring traders the chance to trade Forex using capital they haven’t personally invested. In simpler terms, they give fund the account for you to trade in.
These accounts allow beginner traders to use money provided by third parties to trade in the Forex market.
What these peopl edo is to allow traders to show their knowledge of the Forex market and prove their trading abilities by meeting specific criteria set by the trading platform.
Once they meet these requirements, the funding company allocates a certain amount of capital for the trader’s use. This capital remains the property of the funding company.
The advantage of a funded Forex account is that traders can retain a portion of the profits they generate, usually between 50% and 80%, depending on the agreement with the funded trader program.
Forex-funded programs provides many trading approach and that helps aspiring traders to learn and work in a practical and secure environment.
In This Post
Free Forex Funded Account Programs that Don’t Require Deposits
The 5ers, City Traders Imperium, FTMO, the Funded Trader and My FxFunds.
We compiled a list of the top 5 forex funded accounts that don’t require a deposit.
1. The 5ers
The 5ers provide three distinct programs, each requiring a one-time fee. The difference between this program is fees and potential funding capital:
i. Hyper Growth Program: Entry fee ranges from $260 to $850, with funding capital between $5,000 and $20,000, and a leverage of 1:30.
ii. High-Stakes Challenge: Entry fee is $39, offering funding capital from $5,000 to $100,000, with a leverage of 1:100.
iii. Bootcamp Program: Entry fee is $95, with funding capital ranging from $100,000 to $250,000, and a leverage of 1:10.
Just to add to that, the profit targets for these programs range from 5% to 10%.
2. City Traders Imperium
City Traders Imperium gives you the opportunity to become a funded trader by completing a challenge. These challenges range in value from $5,000 to $100,000.
To add to that, they have one-time fees that changes based on the challenge size, starting at $59 and going up to $509.
The challenge is divided into two parts: the first part lasts 45 days with a 10% profit target, while the second part lasts 5 days with a 5% profit target.
Moreover, the profit split during the challenge can reach up to 100%. All challenges provide a leverage of 1:33.
3. FTMO
FTMO provides forex-funded accounts and they are known for its application process. In the first step, the process begins with the FTMO challenge, a 30-day period where traders must meet specific profit targets.
So when you succcessully complete this challenge, you move on to a 60-day verification phase. During this phase, you must repeat the success achieved in the initial challenge.
Only after successfully going through this 90-day process will FTMO extend an offer to the trader. The forex-funded accounts available range from $10,000 to $400,000.
Notable features of the FTMO-funded trading program include 1:100 leverage, access to trading platforms such as MT4, MT5, and cTrader, a free trial option, and different markets including currency pairs, cryptocurrencies, indices, and stock CFDs.
4. The Funded Trader
The Funded Trader have some criterias inorder for you to have access to their funded accounts which have an interface that looks like that of videogames and four challenges from which traders can select from:
i. Standard Challenge: This option provides accounts funded with $10,000 to $400,000. You can choose between swing and regular risk, with a 35-day trading period, 1:60 leverage, and a 10% profit target.
ii. Rapid Challenge: Accounts are funded with $10,000 to $200,000. Similar to the Standard Challenge, you can choose between swing and regular risk. It also has a 35-day trading period, but with 1:30 leverage and an 8% profit target.
iii. Royal Challenge: This challenge funds accounts with $50,000 to $400,000. It has a 35-day trading period, regular risk, 1:200 leverage, and an 8% profit target.
Knight Challenge: Accounts are funded with $25,000 to $200,000. This challenge offers an unlimited trading period, 1:30 leverage, and a 6% profit target.
Each challenge comes with a fee, which varies based on the type of challenge and the size of the account. Therefore, it’s important to consider these factors carefully before making a decision.
My FxFunds
MyFxFunds has an appealing forex-funded account with options suitable for traders at all experience levels. Depending on your expertise, you can join one of their trading programs:
i. Rapid: This is made for novice traders and the training program offers account sizes from $10,000 to $100,000.
You can earn bonuses while learning, with no time limit, and payouts that increase over time. The registration fee ranges from $99 to $749.
ii. Evaluation: This program serves as a testing ground for traders seeking funding, with account sizes from $5,000 to $300,000 and 1:100 leverage.
The registration fee ranges from $49 to $1,389, with an 8% profit target.
iii. Accelerated: Aimed at professional traders, this program allows you to skip the evaluation phase and start with account sizes from $2,000 to $50,000, which can later be scaled up to $2,000,000.
It offers 1:100 leverage, with a registration fee ranging from $99 to $4,900, and a profit target of 10-20%.
These programs cater to different levels of trading experience, providing flexibility and opportunities for growth.
4. Profit Sharing
Earnings generated in a funded account are typically divided between the trader and the funding company. The split often ranges from 50/50 to 80/20, favouring the trader.
The exact distribution depends on the specific program and the size of the account.
Conclusion
When choosing from the best forex-funded programs, you need to know which assess their features and programs, and make your choice based on your experience level and personal trading preferences.
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