Best Prop Trading Firms in Canada 2024 (2024)

Top Prop Trading Firms in Canada 2024

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Maven Trading

4.6 stars

Service Type Prop Trading Firm

Best For Instant funding

Benefits

Overview

Company

  • Instant funding options.
  • Multiple asset classes.
  • Flexible trading strategies.
  • Competitive profit splits.
  • Strong educational support.

Maven Trading, a Canadian-based proprietary trading firm, offers a unique proposition with instant funding options, making it an attractive choice for traders who want to bypass lengthy evaluation processes. The firm's diverse range of tradable assets, including forex, stocks, and commodities, caters to various trading preferences.

Traders at Maven benefit from the firm's flexible approach to trading strategies, enabling them to employ their preferred methods without stringent restrictions. Furthermore, the competitive profit splits offered by Maven incentivize traders to maximize their trading potential.

Established in Canada, Maven Trading has quickly made a name for itself in the prop trading space. The firm's commitment to providing traders with immediate access to capital and a supportive educational environment underscores its dedication to fostering trading talent.

With a focus on nurturing both novice and experienced traders, Maven has become a go-to destination for many looking to amplify their trading careers.

For a full review of Maven Trading, click here.

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Take Profit Trader

4.7 stars

Service Type Prop Trading Firm

Best For Futures traders

Benefits

Overview

Company

  • Specialized in futures trading.
  • One-time fee for pro accounts.
  • Realistic profit targets.
  • High-quality customer support
  • Regular trading competitions.
  • Promo: Coupon Code MODESTMONEY for 50% off

Take Profit Trader is a prominent prop trading firm that specializes in funding futures traders. The firm is known for its straightforward and user-friendly approach, which is devoid of hidden complexities, making the trading journey smooth and efficient.

While the firm is not based in Canada, Canadian traders and people located in Canada are welcome on the platform.

The firm emphasizes empowering traders with quality education and practical trading experience. Take Profit Trader's approach to trading is centered around simple rules, which aids in the development of effective trading strategies. Their model of providing funding and allowing traders to use their trading skills to generate consistent profits has gained popularity among futures traders.

Take Profit Trader was founded to simplify the path to becoming a funded trader. The company focuses on providing an environment where traders can hone their skills and achieve consistent profitability.

Its unique blend of practical trading opportunities and comprehensive educational resources sets it apart in the prop trading industry.

Click here for a comprehensive review of Take Profit Trader.

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TopStep Trader

4.6 stars

Service Type Simulated live trading

Best For Futures and forex

Benefits

Overview

Company

  • Structured evaluation program.
  • Focus on forex and futures.
  • No risk of personal capital.
  • Educational resources available.
  • Access to a professional trading community.
  • Promo: Save 20% via our link today

TopStep Trader offers a unique platform for traders specializing in forex and futures. It's known for its structured evaluation program, the "Trading Combine," which tests traders' skills in a simulated environment. The program focuses on risk management and consistent profitability, preparing traders for real-market conditions.

TopStep is another firm that welcomes Canada-based traders even though they are headquartered elsewhere.

The firm does not require traders to risk their personal capital. Instead, TopStep provides the capital once traders successfully pass the evaluation. This approach not only lowers the entry barrier for new traders but also instills a disciplined trading mindset.

Founded in the United States, TopStep Trader has grown into a globally recognized prop trading firm. Its commitment to nurturing successful trading careers is evident in its comprehensive educational resources and supportive trading community. TopStep Trader’s mission is to find talented traders and give them the tools to succeed in the financial markets.

If you’re looking for a deeper dive into TopStep, check out our detailed review of the platform.

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Elite Trader Funding

4.5 stars

Service Type Prop Trading Firm

Best For Variety of assets

Benefits

Overview

Company

  • Relaxed trading rules
  • Wide range of tradable assets.
  • Competitive profit splits.
  • No minimum trading days.
  • One-time fee structure.
  • Promo: Coupon Code ETF4EVER for 65% off

Elite Trader Funding stands out for its relaxed trading rules and a wide array of tradable assets, including forex, indices, and commodities. The firm caters to traders who value flexibility in their trading strategies and seek a variety of markets to trade in.

Elite Trader Funding is another friendly firm for Canadian and Canada-based prop traders, although they are based out of another country.

With no minimum trading days requirement, traders have the freedom to trade on their own schedule, which is particularly appealing to part-time traders. The competitive profit splits offered by Elite Trader Funding incentivize traders to maximize their returns.

Elite Trader Funding is known for its trader-centric approach. The firm’s flexible policies and supportive infrastructure aim to create an environment where traders can thrive without the pressure of stringent rules or excessive fees. Elite Trader Funding focuses on enabling traders to leverage their skills to achieve financial success in the trading world.

Go here to read our full review of Elite Trader Funding.

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Best Prop Trading Firms in Canada 2024 (2024)

FAQs

What is the best futures prop firm in 2024? ›

The top futures prop firms are TopStepTrader, Jane Street, FTMO, 3Red Partners and The Trading Pit. Jane Street and 3Red Partners are very secretive about their fees and profit splits but they do offer some of the best technology and high-frequency trading.

Which prop firm is the most reliable? ›

Funder Trading stands first in our list of the top prop trading firms in 2024 due to multiple reasons but notably it is the only prop trading firm that offers options funding and includes coaching for every trader signed up.

What is the future of prop firms? ›

The prop trading space is relatively new—no more than 10 years old—but growing fast. It was estimated at $6.7 billion globally in 2020 and is projected to expand at a compound annual growth rate (CAGR) of 4.2% from 2021 to 2028. Like any financial strategy, it offers significant opportunities as well as risks.

Did FTMO ban US traders? ›

In what appears to be related to the latest MetaQuotes crackdown on the proprietary trading landscape, prop firm FTMO has stopped onboarding US clients, Finance Magnates has learned. New traders attempting to register from a US IP address were unable to complete the registration form.

Which prop firm has the fastest payouts? ›

FunderPro stands out for its rapid payouts in the prop trading industry. With some competitors taking weeks to process payouts, FunderPro prioritizes swift transactions, ensuring traders receive their earnings promptly.

Which prop firm has the tightest spreads? ›

FTUK is a reliable prop firm with access to diverse financial markets of Forex pairs, indices, commodities, and popular crypto assets. Since the firm is partnered with a regulated broker, EightCap, it provides access to advanced platforms MT4 and MT5, and spreads are exceptionally low from 0 pips.

How do I choose a prop trading firm? ›

Don't just pick the first prop trading firm you find. Choose one with a good reputation, support for traders, good tools, safety measures, fair costs, and a friendly community. This way, you can trade smarter and have a better chance at success.

What is the cheapest prop firm? ›

Cheapest Prop Firms Forex 2024 - with $5K Funding Accounts...
  1. The5%ers. The5%ers specializes in providing funding of up to $100,000 to forex traders. ...
  2. FTMO. ...
  3. MyForexFunds. ...
  4. Earn2Trade. ...
  5. The Funded Trader Program. ...
  6. OneUp Trader. ...
  7. Apex Trader Funding. ...
  8. True Trader.
Feb 27, 2024

What are the prop firms in Canada? ›

The Top Canadian Prop Trading Firms List
  • Visit Website.
  • City Traders Imperium. Type: Forex, Profit Split: Up to 100%, Fees: From $49, Max Balance: $2,000,000, Rating: 4.8. ...
  • FTUK. ...
  • The Trading Pit. ...
  • Audacity Capital. ...
  • Earn 2 Trade. ...
  • LeeLoo Trading. ...
  • The Funded Trader.
Mar 11, 2024

What is the success rate of prop traders? ›

It is estimated that only 4% of Forex traders succeed with prop firm challenges, and only 1% of traders can generate profits consistently without violating any rules.

How much does the average prop trader make? ›

The salary of a prop trader can vary greatly depending on several factors such as experience, performance, and the size of the firm. On average, a junior prop trader can expect to earn anywhere between $50,000 to $100,000 per year, while a senior trader can make upwards of $500,000 annually.

Are prop firms going to stay? ›

In conclusion, forex prop firms are legal both to own and to trade with, although largely unregulated in the online space currently. We expect to see regulation coming and strengthening in the upcoming years. If you want to stay ahead of this as a trader, ensure you're trading with a real money prop firm.

What are the negatives of prop firms? ›

Among many other potential factors, the main disadvantages of prop trading arise from being classified as a market professional, unfavorable profit sharing, and whether your net trading profits are taxed as capital gains or ordinary personal income.

How many people fail prop firms? ›

According to it, 4% of traders, on average, pass prop firm challenges. But only 1% of traders kept their funded accounts for a reasonable amount of time. While this result is not nearly as bad as the one discussed earlier, it still looks bleak for prospective prop traders. But why is the percentage of failure so high?

What is the best futures contract? ›

What futures are most profitable? Trading in futures markets such as the Micro E-Mini Russell 2000 (M2K), Micro E-Mini S&P 500 (MES), Micro E-Mini Dow (MYM), and Micro E-Micro FX contracts can be highly profitable due to their distinct market characteristics.

Who is the worlds best futures trader? ›

Best Futures Traders in the History of Futures Trading
  • Richard Dennis and the Turtle Traders. ...
  • Paul Tudor Jones. ...
  • Ed Seykota. ...
  • Bruce Kovner. ...
  • Larry Williams. ...
  • The Lessons from the Legends.
Feb 25, 2024

What are the most active futures? ›

Most Active
SymNameHigh
NQM24Nasdaq 100 E-Mini18,889.00
HEN24Lean Hogs97.825
LEM24Live Cattle184.475
ZLU24Soybean Oil45.90
33 more rows

What is the largest futures exchange in the US? ›

CME Group (Chicago Mercantile Exchange)

The CME Group is the world's largest futures exchange and offers trading in a broad range of futures and options contracts across asset classes, including agricultural commodities, energy, metals, equity indexes, and foreign exchange.

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