Top 10 best Forex Prop Firms in UK 2024 (2024)

The foreign exchange (Forex) market is the largest and most liquid market in the world with over $6.6 trillion traded daily. Prop firms provide funding, technology, and support to Forex traders looking to tap into these massive markets without risking their own capital.

In this post, we will explore the 10 best prop firms for Forex traders based in the UK.

List best Forex Prop Firms in 2024

✅The5%ers Open An Account

✅FTMO Open An Account

✅The Forex Funder Open An Account

✅True forex Funds Open An Account

✅ E8 Funding (E8 Markets) Open An Account

✅ Fidelcrest Open An Account

✅LuxTradingFirm Open An Account

✅ Sabiotrade Open An Account

10 best Forex Prop Firms in UK Review

FTMO

Overview

FTMO (Funds To My Account) is one of the most well-known and largest prop firms in the world. Founded in 2019, they now fund over $400 million to over 30,000 funded traders worldwide.

Top 10 best Forex Prop Firms in UK 2024 (1)

FTMO offers funding starting from $2,000 to $200,000 per account. You can get funded in as little as 1 month and keep up to 90% of your profits.

Company

FTMO is headquartered in Prague, Czech Republic. However, they have account managers and support staff available 24/5 in multiple languages.

FTMO serves clients in over 150 countries. For UK traders, they offer dedicated IBAN accounts in GBP.

Tradable Assets

At FTMO, you can trade major, minor and exotic currency pairs as well as gold, silver, oil and indices. Popular pairs include EUR/USD, GBP/USD, USD/JPY, USD/CAD and more.

They offer tight spreads starting from 0 pips on the Razor account.

Profit Split

With the FTMO Challenge, you can get a funded account by passing a demo challenge. There are two challenge levels - $50,000 or $100,000.

Once funded, you keep 80% of your profits. FTMO takes a 20% fee, up to a maximum of $10,000 per month.

Benefits

  • Funding up to $200,000 per account
  • Low minimum account sizes ($2,000+)
  • Free advanced trading tools and analytics
  • Active trader community and education
  • Responsive 24/5 support and account managers

Overall, FTMO is one of the top prop firms in the UK for Forex traders looking for a reputable company with high funding limits and competitive profit splits.

Funded Trading Plus

Overview

Funded Trading Plus is a UK-based prop firm that provides Forex traders access to funding of £15,000 to £150,000 per account. They have a strong focus on trader development and community.

Company

Funded Trading Plus launched in 2021 and is headquartered in London, UK. Despite being a newer firm, they have already funded over £3.7 million to traders worldwide.

They have an office in London that serves as an education hub and trading floor with dedicated trading mentors. This allows for in-person support and networking for funded traders.

Tradable Assets

You can trade major, minor and exotic currency pairs with tight spreads starting from 0 pips. Commodities like gold and oil are also tradable.

They offer access to fast ECN execution on MetaTrader 4/5 platforms.

Profit Split

There are two challenge levels - £15k and £150k. The first £5,000 of profits are yours to keep. Additional profits are split 70% to you, 30% to Funded Trading Plus.

There are no monthly or annual management fees. You pay the split only when you profit.

Benefits

  • Funding up to £150,000
  • Access to in-person trading education
  • Active UK trader community
  • No monthly fees, only profit split
  • Responsive support and free tools

For UK Forex traders looking for high funding limits and a local prop firm experience, Funded Trading Plus is a top choice. The London office and professional mentors provide valuable growth opportunities.

Apex Trader Funding

Overview

Apex Trader Funding is a UK prop firm that provides Forex traders access to accounts from £10,000 to £100,000 in funding. They have a streamlined and transparent funding model.

Company

Based in Liverpool, UK, Apex Trader Funding was founded in 2021 by a team of experienced traders. Despite being new, they have quickly funded over £3 million to hundreds of traders.

They focus on creating a professional trading environment through technology, tools, and community.

Tradable Assets

At Apex Trader Funding you can trade major, minor and exotic currency pairs with institutional grade execution.

Popular pairs include EUR/USD, GBP/USD, AUD/USD, USD/CAD, USD/JPY and many more. Gold, oil and indices are also tradable.

Profit Split

There are two account levels - £10k and £100k. The evaluation lasts 30 days and needs a minimum of 10% profit to pass.

Once funded, you keep 75% of profits, while Apex takes a 25% fee. There are no monthly management fees - you only pay when you are profitable.

Benefits

  • Funding up to £100,000
  • Streamlined and transparent process
  • No monthly fees, pay only from profits
  • Active UK trading community
  • Free trading tools and analytics

Apex Trader Funding is a newer but rapidly emerging prop firm based in the UK. Their transparent process and focus on technology makes them a top choice for Forex traders.

FX2 Funding

Overview

FX2 Funding offers Forex traders access to accounts ranging from $5,000 to $200,000+ in funding. They have a strong educational focus and provide proprietary trading signals.

Company

FX2 Funding was founded in 2021 and is based in Manchester, UK. Despite being newer, they have already funded over $3.2 million to hundreds of traders globally.

The company was founded by traders and focuses on creating real-world professional traders through hands-on education.

Tradable Assets

You can trade major, minor and exotic currency pairs with institutional grade spreads starting from 0 pips.

Commonly traded pairs include EUR/USD, GBP/USD, USD/JPY, AUD/USD, USD/CAD and more.

Profit Split

There are three account levels available based on your experience - $5k, $50k and $200k+. The combine lasts 30 days.

Once funded, you keep 75% of net profits. FX2 Funding takes a 25% fee, with no additional monthly fees.

Benefits

  • Funding up to $200,000+
  • Strong educational focus
  • Proprietary trading signals
  • No monthly fees, pay only from profits
  • Active UK & global community

FX2 Funding is one of the top prop firms in the UK for traders looking for real-world education and access to proprietary trading tools. The high funding limits also appeal to experienced traders.

The5ers

Overview

The5ers offers a unique team-based prop firm model, providing funding starting from $50,000 per team. Traders can join an existing team or start their own.

Company

Founded in 2016, The5ers was the first UK prop firm to introduce a team-based model. They now have over 300 funded traders and 40 teams on their platform.

The company focuses on creating a collaborative trading environment and encouraging healthy competition between teams.

Tradable Assets

At The5ers you can trade major, minor and exotic Forex pairs. Popular currencies include EUR/USD, GBP/USD, USD/JPY, AUD/USD and USD/CAD.

They offer tight spreads and fast ECN execution through their partner brokers.

Profit Split

Once your team passes the remote audit, you are provided with a $50,000 funded account. Additional funding can be earned through profit milestones.

Profits are split 50/50 between the team and The5ers. Traders then split their share based on an agreement within the team.

Benefits

  • Team-based trading model
  • Funding starting from $50,000
  • Access to collaborative community
  • Unique profit sharing model
  • Tools for team coordination

The5ers offers a highly unique team prop firm model for traders looking for a collaborative environment. The team structure provides benefits traditional firms cannot.

Tradiac

Overview

Tradiac provides Forex funding accounts from $5,000 up to $1,000,000+ for experienced institutional traders. They focus on transparency and offer a revenue share model.

Company

Tradiac launched in 2020 and is based in London, UK. The core team has extensive trading and fintech experience from firms like Citadel, Tower Research, and Merrill Lynch.

The company aims to disrupt prop trading through complete transparency, aligning incentives between firm and trader.

Tradable Assets

You can trade all major, minor and exotic currency pairs with institutional grade spreads and execution through Tradiac.

Popular pairs include EUR/USD, GBP/USD, USD/JPY, AUD/USD, NZD/USD and many more.

Profit Split

Instead of a profit split, Tradiac offers a transparent revenue share model. Traders get 80% of trading commissions and exchange rebates.

The more you trade, the more you earn. There are no monthly fees - you pay 20% revenue share only when you earn commissions.

Benefits

  • Funding up to $1,000,000+
  • Revenue share model
  • Complete transparency
  • Institutional grade execution
  • Low minimum account sizes

For experienced traders seeking high funding limits and transparency, Tradiac is a top UK prop firm. Their revenue share model also makes them unique.

FXIFY

Overview

FXIFY provides Forex traders access to funding accounts from $1,000 up to $300,000. They have a global team and focus on creating a collaborative trading environment.

Company

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FXIFY was founded in 2020 in London, UK and has quickly grown to fund over $7 million. They now have team members and funded traders in over 15 countries.

The company focuses on transparency, technology, and community to disrupt the prop firm industry.

Tradable Assets

You can trade major, minor and exotic Forex pairs with tight spreads starting from 0 pips.

Popular currencies include EUR/USD, GBP/USD, AUD/USD, USD/CAD, USD/JPY and more.

Profit Split

FXIFY offers three account levels based on experience - $1k, $10k, and $100k. Larger accounts are available upon request.

Once funded, you keep 75% of net profits. FXIFY takes a 25% fee with no additional monthly charges.

Benefits

  • Funding up to $300,000
  • Global team and community
  • Collaborative trading environment
  • Cutting-edge trading technology
  • Responsive support and education

For traders seeking a worldwide community and access to next-gen trading tools, FXIFY is a top UK prop firm. Their collaborative approach and large funding sizes appeal to serious traders.

SurgeTrader

Overview

SurgeTrader provides funding accounts from $5,000 to $1,000,000+ for Forex traders globally. They focus on transparency and have funded over $300 million to date.

Company

SurgeTrader launched in 2015 and is based in London, UK. Led by a team of traders, risk managers and technologists, they now serve over 4,500 funded traders worldwide.

They aim to provide complete transparency and the highest profit splits in the prop firm industry.

Tradable Assets

You can trade major, minor and exotic currency pairs with institutional-grade execution. Tight spreads and fast ECN infrastructure improve trading performance.

Profit Split

SurgeTrader offers account sizes from $5,000 to over $1,000,000. Traders keep up to 90% of net profits, with the remaining going to SurgeTrader.

There are no monthly fees, desk fees, or hidden costs - you only pay when you profit. Complete transparency is guaranteed.

Benefits

  • Massive funding up to $1,000,000+
  • Keep up to 90% of profits
  • Complete transparency
  • Advanced trading infrastructure
  • Responsive support and risk management

For Forex traders looking for the highest profit splits and funding over $1 million, SurgeTrader is a top UK prop firm. Their transparency and trading technology set them apart.

OFP Funding

Overview

OFP Funding provides Forex traders access to accounts from $5,000 to $500,000 in funding. They focus on transparency, technology, and trader education.

Company

Founded in 2021 and based in London, UK, OFP Funding takes a modern approach to prop trading. Their team has extensive trading experience across hedge funds, prop firms, and investment banks.

OFP aims to provide institutional-grade infrastructure while maintaining flexible trader agreements.

Tradable Assets

You can trade all major, minor and exotic Forex pairs with ECN execution and tight spreads starting from 0 pips.

Top pairs include EUR/USD, GBP/USD, USD/JPY, AUD/USD, NZD/USD and more.

Profit Split

OFP Funding offers starting accounts of $5,000, scaling up to $500,000 based on trader performance. Profit splits start at 80/20 and increase to 95/5 in the trader's favor.

There are no monthly fees - you only pay a split on your net profits. Complete transparency is guaranteed.

Benefits

  • Funding up to $500,000
  • Profit splits up to 95% in your favor
  • Transparent agreements
  • Advanced trading infrastructure
  • Strong focus on trader education

For traders who prioritize fair profit splits and education, OFP Funding is a top UK prop firm. They create a transparent trading environment focused on your success.

Top Tier Trader

Overview

Top Tier Trader provides Forex and crypto traders access to funding accounts from $10,000 up to $1,000,000+. They focus on transparency and offer some of the highest profit splits.

Company

Founded in 2019, Top Tier Trader is based in London, UK. Despite being newer, they have already funded over $77 million to 700+ traders worldwide.

Led by a team of traders, they aim to provide the best trader agreements with up to a 95% payout on net profits.

Tradable Assets

You can trade major, minor and exotic Forex pairs as well as cryptoassets like Bitcoin, Ethereum, and more against the US Dollar.

Institutional-grade liquidity ensures tight spreads and fast execution.

Profit Split

Accounts range from $10,000 to over $1 million based on trader performance. Profit splits start at 80% for the trader and can reach up to 95% in your favor.

There are no monthly fees - you pay a split only when you are profitable for the month.

Benefits

  • Massive funding up to $1,000,000+
  • Profit splits up to 95% in your favor
  • Trade Forex and crypto assets
  • Complete transparency
  • Generous referral program

For Forex and crypto traders seeking the highest profit splits, Top Tier Trader is one of the best prop firms in the UK. Their generous payouts appeal to serious, high volume traders.

Frequently Asked Questions

Is Prop trading legal in UK?

Yes, prop trading is legal in the UK. Prop firms operate within UK financial regulations when providing trading services to aspiring forex traders. Some key regulations include:

  • Financial Conduct Authority (FCA) - Regulates financial services companies in the UK. Prop firms need to be registered with the FCA.
  • Markets in Financial Instruments Directive (MiFID) - Governs the provision of financial services across the European Economic Area. Sets standards for prop firms operating in the UK.
  • Client money rules - Prop firms must follow strict rules on segregating and protecting client funds. This ensures trader capital is kept secure.
  • Disclosure requirements - Prop firms must provide appropriate disclosure of risks and costs to traders. Transparency is important.

As long as prop firms adhere to relevant UK regulations, prop trading is a legal and viable path for those seeking to become professional forex traders. The regulatory system helps provide trader protections.

How Do Prop Firms Make Money?

Prop firms generate revenue in two main ways:

  • Profit splits - The most common model. Profitable traders split their trading gains with the firm, often around 80/20 or 70/30. This incentivizes prop firms to provide training and capital to help traders succeed.
  • Commissions - Some prop firms charge trading commissions instead of or in addition to profit splits. This can allow traders to keep a greater share of profits.

In both cases, prop firms make money when their traders are profitable. Other potential revenue sources include:

  • Membership fees - Charging an upfront or periodic fee for firm services.
  • Spreads/markup - Adding a small markup to quoted spreads on trades.
  • Interest on trading capital - Charging interest if providing leverage/margin to traders.

The profit split model aligns incentives so prop firms are motivated to equip and support funded traders. Top prop firms succeed when their traders succeed.

What is the Failure Rate of Prop Traders?

Estimates vary, but the failure rate for new prop traders is quite high. Conservative estimates range from 80-95% of beginning traders ultimately failing. Reasons include:

  • Lack of experience and training - Trading is difficult. Without proper guidance, most new traders lose money.
  • Poor risk management - New traders take excessive risks trying to hit home runs, rather than managing risk.
  • Emotional trading - Frustration, excitement, and greed lead to poor decisions under pressure.
  • Insufficient capital - Many new traders are undercapitalized for their strategy and can't absorb losses.
  • Overtrading - Trading too frequently leads to increased transaction costs and commissions.

However, prop firms provide extensive training, mentorship, and risk controls designed specifically to improve trader success rates. Traders backed by a prop firm's infrastructure have a much better chance of beating the high failure rate for independent traders. Still, dedication, discipline, and mental toughness are required.

What is Prop Trading?

Prop trading refers to a model where aspiring traders join an established firm to receive training, mentoring, capital backing, and access to professional trading infrastructure.

The "prop" stands for proprietary trading, meaning the firm (and sometimes experienced traders) provides funding or trading capital to newer traders. However, the traders are trading firm capital, not their own. They must pass an audition process first.

In exchange for firm backing, profitable prop traders share a percentage of their trading gains with the firm. Specific arrangements vary, but profit splits around 80/20 are common.

Prop trading helps facilitate the transition from novice to professional trader. Working under a prop firm helps mitigate risk while learning best practices from veteran traders, coaches, and mentors. The structured environment provides invaluable experience.

Who Should Try Prop Trading?

Pursuing trading via a prop firm is best suited for determined individuals with an interest in the financial markets. Ideal candidates include:

  • New/aspiring traders - The training and risk controls help beginners improve skills without taking on full risk.
  • Experienced traders - The firm infrastructure and capital backing allows solid traders to scale up.
  • Former finance professionals - Trading experience from investment banks or hedge funds is valued.
  • Recent graduates - Trading combines skills from finance, statistics, economics, and business.
  • Career changers - The dynamic, fast-paced nature appeals to many seeking a new path.

Prop trading welcomes driven individuals with the motivation to treat trading like a business, not a hobby. Key attributes include risk tolerance, personal accountability, patience, and a performance mindset. A logical, analytics-driven personality suited to markets also helps.

Prior finance experience is great but not required. With proper dedication, prop trading skills can be learned by most people. The right mindset is crucial.

Benefits of Prop Trading

Pursuing a trading career through a proprietary trading firm provides many potential benefits:

Funding

  • Traders receive access to trading capital provided by the prop firm. This removes the burden of funding a trading account independently.
  • Firm capital backing allows traders to run larger position sizes and pursue new strategies. Prop firms provide leverage and margin where needed.

Infrastructure

  • Prop firms provide industry-leading trading platforms, charting tools, market data feeds, virtual trading environments, and other technology infrastructure.
  • Support teams help with platform setup, troubleshooting, and optimizing the trading workflow.

Training

  • Extensive training programs teach trading fundamentals, specialized strategies, risk management, and the trader mindset.
  • Traders refine skills and gain experience through simulated trading, small live accounts, and gradual scaling up of position sizes.

Support

  • Prop firms employ experienced traders as mentors and coaches to provide guidance tailored to each trader's style and goals.
  • Traders benefit from being part of a professional trading community, rather than learning in isolation.

Risk Management

  • Stringent risk controls and evaluation procedures ensure traders develop strong risk habits from the start.
  • Prop firms closely monitor trading risk and can intervene if traders display poor judgment. Losses are contained.

Reduced Stress

  • Since prop firm capital is at risk, traders can focus fully on skill development instead of being burdened by performance anxiety.
  • Working at a prop firm provides structure, accountability, and support which lowers stress levels.

How does prop trading work?

The prop trading process involves three main phases:

Audition / Hiring Phase

  • Prospective traders apply and go through an audition process to get hired by a prop firm.
  • Screening is competitive and based on trading aptitude, risk management skills, and potential.
  • Accepted traders pay a deposit or membership fee to join the firm.

Training / Funded Phase

  • Traders go through an initial training program focused on core trading concepts and the firm's approach.
  • Traders receive a live trading account funded by the firm, often starting small ($5,000-$10,000) to prove skills.
  • Successful traders can access larger firm accounts up to $100,000-$500,000+ as they demonstrate consistent profitability.

Profit Splitting / Lifetime Phase

  • Once fully capitalized by the firm, the trader and firm begin sharing profits via an agreed split, often around 80% for the trader and 20% for the firm.
  • The trader has now transitioned to funded status and continues receiving firm support and mentoring.
  • Profitable traders may trade under the prop firm's backing for the rest of their career with ongoing revenue sharing.

The three phases allow traders to earn larger backing as their skills grow. The prop firm's training and infrastructure provide support along the journey to becoming a consistently profitable trader.

Is prop trading profitable?

Profitability depends greatly on the trader. Prop trading provides the infrastructure, training, and risk management support needed to help traders reach consistency. However, every trader progresses at a different pace based on skills, dedication, and market conditions.

It's reasonable to expect 2-3 years of training and skill development are needed before a trader generates consistent profits trading a firm account. Prior experience shortens this curve considerably. The right prop firm provides guidance to shorten the learning curve.

Once a trader reaches consistent profitability, the revenue splitting arrangement becomes advantageous. With a typical 80/20 split, a trader only needs to generate annual profits of £250,000+ to earn a six-figure income (£200,000 after the split). Higher profitability translates to higher pay.

Conclusion

The top Forex prop firms in the UK offer funded accounts from $1,000 up to over $1 million to suit traders at every career stage. Leading firms provide institutional-grade infrastructure, advanced trading tools, and responsive support.

When choosing a prop firm, consider factors like funding limits, profit splits, tradable assets, company transparency, and trader community. Align the firm's offerings with your trading style, experience level, and goals.

The firms profiled above are excellent options for UK-based Forex traders ready to take their skills to the next level with prop firm funding.

Top 10 best Forex Prop Firms in UK 2024 (2024)

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