A Forex Proprietary Trading Firm, also known as a Forex Prop Firm, is a specialized company that offers a welcoming and supportive trading atmosphere for traders. Their primary objective is to provide traders from around the world with opportunities for growth and profit. To achieve this, they offer a range of four distinct funding programs, each tailored to different trading preferences and skill levels.
These programs enable traders to access significant profit shares, while also allowing them to manage primary trading accounts with capital ranging from $200,000 to as much as $10,000,000. Traders can engage in a diverse range of assets, including forex currency pairs, commodities, stock indices, individual equities, and digital currencies. This versatility in options empowers traders to diversify their portfolios and take advantage of various trading opportunities within the financial markets.
Who Are Forex Prop Firm?
The Forex Prop Firm is a trading company that started in January 2022, operating under the formal business name 9452-8635 Québec Inc. It’s located in Montreal, Canada, providing clients with access to trading accounts that can have capital ranging from $200,000 to an impressive $10,000,000.
They have integrated their technology with Eightcap, a regulated broker headquartered in Melbourne, Australia.
Who Are The Founders Of Forex Prop Firm?
Jonathan Dufresne is the CEO of Forex Prop Firm, a leading provider of funded trading accounts to aspiring forex traders. He has a deep understanding of the forex market and a passion for helping others achieve their financial goals. Under his leadership, Forex Prop Firm has become a trusted name in the forex trading community.
Jonathan is a strong believer in the power of education and mentorship. He is a frequent speaker at forex trading events and webinars, and he is always willing to share his knowledge and insights with others. He is also a strong advocate for responsible trading, and he is committed to helping traders develop the skills and knowledge they need to be successful in the forex market.
Funding Program at Forex Prop Firm
Forex Prop Firm provides traders with four different programs to choose from. One of these programs is the “One-step Evaluation.” In this program, traders need to meet certain evaluation criteria, and there are no specific time limits to fulfill these requirements. Traders can also use leverage of up to 1:30 in this program.
The evaluation process involves achieving a 10% profit target while ensuring that the daily drawdown does not exceed 4% and the overall drawdown stays below 6%. There are no specific requirements for the number of trading days during this evaluation period, giving traders the flexibility to trade at their own pace.
Successful completion of the evaluation phase allows traders to access a funded account with a 5% profit target for withdrawal. Traders must continue to follow the 4% maximum daily and 6% overall drawdown rules. The first withdrawal request can be made 30 calendar days after placing the first trade, provided a profit of 5% or more has been generated.
Initially, traders receive a 90% profit split, with the opportunity to increase it to 100% through a scaling plan. Additionally, upon the first payout, a 10% bonus of the profit earned during the evaluation phase is awarded.
Subsequent withdrawals can be requested every two weeks, on the 1st and 16th of each month, as long as the trader has generated a profit of 5% or more.
Two-step Evaluation (No Daily Drawdown during Evaluation):
Forex Prop Firm’s two-step evaluation program account aims to identify disciplined and skilled traders with no daily drawdown rules. Traders can utilize leverage up to 1:30.
Evaluation step one necessitates a profit target of 8% without exceeding a 12% maximum loss. A profit target must be met in 35 calendar days from the first trade placement, and a minimum of five trading days is required to proceed to step two.
Evaluation step two requires a profit target of 5% without exceeding a 12% maximum loss. The profit target must be achieved in 60 calendar days from the first trade placement, and a minimum of five trading days is required to proceed to funded status.
Completing both evaluation steps leads to a funded account with a 5% profit target for withdrawal, and traders must adhere to 5% maximum daily loss and 10% maximum loss rules.
Like the one-step evaluation program, traders start with a 90% profit split, which can be scaled to 100% through the scaling plan.
Forex Prop Firm’s no time limit two-step evaluation program account is designed to identify disciplined and talented traders in an unlimited two-step evaluation period, with the same leverage as the previous programs.
Evaluation step one requires a profit target of 10% without exceeding a 5% maximum daily loss or 10% maximum loss. There are no maximum trading day requirements in phase one, but a minimum of three trading days is mandatory.
Evaluation step two requires a profit target of 5% without exceeding a 5% maximum daily loss or 10% maximum loss. There are no maximum trading day requirements in phase two, but a minimum of three trading days is mandatory.
Successful completion of both evaluation steps grants access to a funded account with a 5% profit target for withdrawal, and traders must adhere to 5% maximum daily loss and 10% maximum loss rules.
Instant Funding:
Forex Prop Firm’s instant funding program allows experienced traders to bypass the evaluation phase and start earning immediately, with the same leverage as the other programs.
Traders must avoid exceeding a 5% maximum daily loss and 5% overall drawdown limit. Profit splits range from 80% to 100% based on the profit generated. There is a five minimum trading day requirement and a 5% profit target before the first withdrawal can be requested.
Subsequent withdrawals can be requested bi-weekly, on the 1st and 16th of each month, provided the trader has generated a profit of 5% or more.
Brokers That Are Used By Forex Prop Firm
Forex Prop Firm has selected Eightcap as its broker for trading operations. Eightcap is an ASIC-regulated broker headquartered in Melbourne, Australia. Established in 2009, they have dedicated themselves to delivering outstanding financial services to their clientele.
With a presence in five global offices and regulatory oversight in multiple jurisdictions, Eightcap offers clients from around the world the opportunity to engage in trading activities across various markets, including foreign exchange, indices, commodities, and shares.
When it comes to trading platforms, Eightcap provides traders with the flexibility to select between MetaTrader 4 and MetaTrader 5, two of the most widely recognized and utilized trading platforms in the industry.
Payment Proof in Forex Prop Firm
Forex Prop Firm is a proprietary trading firm founded in January 2022. We can find a large amount of payment proof of their traders who managed to generate profits and become eligible for a profit split.
Keep in mind that after successfully reaching funded status with any of the four funding programs that Forex Prop Firm is offering, you will be eligible for your first payout in 30 calendar days.
In addition, you should note that you are able to request a withdrawal on the 1st and the 16th of each month while also being able to generate a minimum profit of 5% to be eligible.
Your payout will consist of a 90% profit split, which can be increased up to 100% by engaging in Forex Prop Firm’s scaling plan.
Regarding payment proof, you can find numerous instances of Forex Prop Firm’s successful traders sharing their profit split certificated. You will be able to encounter a wide range of payment proof on their Discord as well as Telegram channels.
You can see some examples of payment proof below:
Subscription & Profit Withdrawal Methods
For subscription and profit withdrawal methods, Forex Prop Firm offers WIRE Transfer as their primary payout and withdrawal option. This method is versatile and can accommodate both traditional currency transactions and cryptocurrency, specifically Bitcoin (BTC).
Additionally, they provide Wise as the last option for smaller payouts, ensuring flexibility and convenience for their traders when it comes to managing their funds. This variety of options allows traders to choose the method that best suits their preferences and needs for both subscribing to the program and accessing their profits.
Traders Opinion
Forex Prop Firm has garnered positive feedback from its community, indicating a high level of satisfaction among its traders.
On Trustpilot, they have received an impressive score of 4.6 out of 5 based on 500 reviews. This positive rating is a testament to the quality of their services and the overall experience provided to their community.
The reviews reflect the community’s appreciation for the firm’s commitment to excellent customer support. The support team is readily available to assist traders with any inquiries, additional information, or resolving any issues that may arise during their engagement with Forex Prop Firm.
One trader from the community specifically praised Forex Prop Firm for several aspects. Firstly, they highlighted the firm’s 90% profit share policy, which serves as a strong motivator for traders, as it allows them to withdraw 90% of the profits they generate.
Additionally, the trader commended the firm’s responsive and efficient customer service, which operates round the clock, ensuring that traders can receive assistance whenever needed.
Lastly, the trader lauded the simplicity and transparency of Forex Prop Firm’s trading rules across all four funding models. These straightforward rules are designed to facilitate traders’ success and foster growth in partnership with the company.
This feedback underscores Forex Prop Firm’s dedication to providing a positive and supportive trading environment for its community of traders. It’s a testament to their commitment to helping traders achieve their goals and prosper with the firm.
Customer Support at Forex Prop Firm
Forex Prop Firm provides multiple ways to access support and information:
FAQ Section: You can visit their FAQ section for answers to common queries.
Email Support: You can contact them by emailing support@forexpropfirm.com.
Live Chat: They offer live chat support for real-time assistance. If they are not available, you will receive a response via email within 24 hours.
Social Media: You can reach out to their support team through their social media channels.
Telegram and Discord: You can join their Telegram and Discord channels, where the support team and the community can provide assistance and help with technical issues.
This provides a variety of options to get the support and information you need.
Final Words
Forex Prop Firm provides four distinct funding programs, each with unique features to accommodate various trading preferences. These programs offer realistic profit targets, clear rules, and the potential to scale your capital, making Forex Prop Firm a strong contender in the proprietary trading industry.
