Prop Trading in the UK: A Guide to the Best Firms and Trading Accounts

The trading market of the UK is very vast and when we talk about the prop firms that provide capital to the traders to start their journey then we have more options to choose one. Prop firms provide traders with more flexible options than a regular 9-5 job. When traders start their journey the first challenge they face is having a limited amount of money to invest in trading. These limited funds do not provide them more opportunities to earn higher profits. That’s why prop firms resolve this challenge and provide traders with a large amount of capital to start their trading journey. But another challenging decision is choosing the right prop firm as each firm has its own rules and regulations. So if you want to choose a prop firm in the UK then let’s see some factors as well as the best prop firms in the UK for your career. 

What is Prop Trading?

Proprietary trading involves trading financial instruments such as stocks, forex, commodities, and derivatives using a firm’s money rather than the trader’s own capital. These firms provide cheap funded accounts and help traders access their money without risking their own money and in return take a percentage of the profits earned by the traders. These firms are responsible for providing traders capital as well as advanced trading platforms and training if they need to enhance their trading skills. 

Top Prop Trading Firms in the UK

Some of the most respected proprietary trading companies in the world are based in the UK. Some of the best options for traders are listed below: 

FTMO

FTMO is a well-known prop trading company that provides evaluation methods to find profitable traders. Traders can access important funds and retain up to 90% of their earnings after passing the evaluation. This firm provides funding up to £200,000 with access to advanced trading platforms as well as training resources. Their evaluation fee starts from £150 which is more affordable.

FundingPips 

FundingPips is a new trading firm that became the top firm in a very short time. They provide flexible programs and high funding limits that are ideal for most traders. This firm provides funding up to £1,000,000 with a higher profit split of 95% which makes it unique from other firms. They provide customizable trading accounts with low drawdown requirements. Their evaluation fee starts from £150 but it depends on their funding models. Another advantage is that traders get access to funding accounts quickly with the help of a single evaluation process. 

MyForexFunds

MyForexFunds is the best choice for those traders who want more competitive programs and lower evaluation fees. This firm provides capital up to £300,000 with no restrictions on trading style. Their profit split is up to 85%. Their fees depend on the trader’s account size and the plans you choose. 

The5ers

The5ers is also a top prop firm in the UK and their main focus is forex. They provide a unique low-risk model for traders. They provide the funds starting at  £50,000 with risk management training. The5ers have a monthly evaluation system and their initial evaluation fee starts from £90 to £400. 

Key Features of the Best Prop Trading Accounts

If you want success in your trading career then it is important to choose the best prop firms for day trading as firms play a major role in your trading journey. But how do you know which firm is best for you? For the right decision you need to consider some features of prop firms including:

Profit Splits

How much profit a firm allows you to keep is called a profit split. So choose one that provides you with competitive profit-sharing ratios that must be 70% to 90% in your favor. The higher the ratio of profit split the more you can earn. 

Risk Management Tools

Another important factor in traders’ journeys is risk management. Prefer those firms that provide you with automated tools and training to control and minimize risk in your trading journey. 

Leverage and Capital

When we talk about prop firms the first thing that comes to our mind is how much capital they will provide to us. This question is important as your profit directly depends on the capital you invest and the leverage provided. Some firms provide capital that starts from £10,000 and goes up to millions so choose the firm that provides large capital.

Fees and Costs

When traders request the capital to prop firms then firms first charge a fee which is called the cost of entry evaluations. Consider all the fees they charge as well as their subscription fee and any hidden cost that is linked with account maintenance.

Training and Support

As firms want skilled traders and more profit that’s why they provide training to their traders to enhance their skills. So those firms are the best ones that provide continuous training, mentorship, and real-time performance feedback to help traders refine their strategies.

Conclusion

Prop firms are the best opportunity for traders as they get access to firm money and resources. Traders can become financially independent and gain professional trading skills by working with the right firms. Whenever you choose a firm keep all the important factors in your mind that are discussed above. Do proper research and find the best one according to your goals and needs.