Best Prop Firms Offering Funded Accounts for

UK Traders

The trading field is evolving day by day and prop firms also become an essential part for traders who want to access capital. This opportunity is best for traders in the UK who don’t have enough money to start their trading career or those who don’t want to take risks with their own money. Prop firms give experienced traders funded accounts so they can trade the company’s funds and get a share of the profits. In the UK the popularity of prop firms is increasing and people are searching for reliable prop firms. The best prop firm helps traders to maximize their profits by providing different advanced tools and features. But what are the best prop firms for UK traders who provide funded trading accounts? Let’s see in detail.

What is a Prop Firm?

A prop firm, short for proprietary trading firm, is a financial institution or company that invests its own capital into financial markets through traders who are hired or contracted by the firm. Prop firms provide experienced traders with capital and the necessary infrastructure to trade in other markets like forex, stocks, and commodities. When the traders start trading they in return receive a share of the profits which is typically ranging from 50% to 90%.

For UK traders it is the best option to partner with a prop firm as it allows them to get a greater buying power than they would have individually. These firms provide them with all the resources to grow their trading profits. Many firms provide funded accounts where traders must pass an evaluation or challenge to prove their trading skills. There are also some firms called One-step challenge prop firms that have only one phase of evaluation and are easy for traders to pass this single evaluation phase. 

Benefits of Using a Funded Prop Firm Account

• Access to Significant Capital: Now traders don’t need to rely on their personal savings as traders can utilize the firm’s capital.
• Profit-Sharing Potential: Prop firms typically provide traders a high share of the profits that help them build their careers without risking personal assets.
• Advanced Trading Tools and Technology: Different prop firms provide traders the advanced trading tools that help them to work with top-tier resources.
• Risk Management and Support: Many firms not just provide capital but also provide trader training, mentorship as well as risk management strategies to support their traders’ success.
• Flexible Work Environment: Additionally, UK traders can operate remotely with international prop firms to increase their opportunities outside of their own markets.

Top Prop Firms for UK Traders

FTMO

FTMO is known as the most popular prop firm globally and has a large client base in the UK. FTMO quickly became known as a market leader due to its strict evaluation process and large payments.

• Account Types: They provide funded accounts up to £100,000 with the option for scaling up based on performance.
• Profit Split: It’s up to a 90% profit split for funded traders.
• Evaluation Process: they have a Two-phase process with a minimum of 10 trading days.
• Trading Platforms: Supports MetaTrader 4, MetaTrader 5, and cTrader.
• Fees: they charge an initial evaluation fee but it can also be refundable when meeting profit targets.

My Forex Funds

My Forex Funds is an affordable option for traders who want the best-funded accounts. The firm was founded in 2020 and gained popularity quickly due to its affordable costs and multiple account options. 

• Account Types: Their capital ranges from £10,000 to £300,000.
• Profit Split: They provide up to 85%.
• Evaluation Process: Provide three options Rapid, Evaluation, and Funded Accounts, according to traders at different levels.
• Trading Platforms: Support MetaTrader 4 and MetaTrader 5.
• Fees: Lower evaluation fees as compared to other competitors.

FundingPips

FundingPips also rises quickly and becomes the best option for UK traders, especially those who prefer flexible account structures and an easy evaluation process. The best forex prop firms for UK traders provide funding for different trading assets, including indices, commodities, and forex. 

• Account Types: Starts from £20,000 and can increase up to £200,000.
• Profit Split: It can be up to 85%.
• Trading Platforms: Supports MetaTrader 4 and MetaTrader 5.
• Fees: Competitive and affordable evaluation fees with refund options based on performance.

Topstep

Topstep is a US-based firm and has a great reputation in the industry especially for futures trading. Topstep also provides traders training and support that makes it suitable for UK traders interested in both forex and futures.

• Account Types: Accounts can go up to £150,000 based on trading performance.
• Profit Split: 80%.
• Evaluation Process: They have a two-step evaluation process that is known for transparency and risk management.
• Trading Platforms: Compatible with popular platforms such as MetaTrader and NinjaTrader.
• Fees: Evaluation fees vary according to account size.

Conclusion

It is important for UK traders to have a reliable prop firm that provides them with an amount of capital as well as resources and support for their trading career. All the firms including FTMO, My Forex Funds, and FundingPips provide competitive profit splits, scalable accounts, and advanced trading platforms.