The 4 Best Proprietary Trading Firms For Beginners in 2024 (2024)

Finding the best proprietary trading firm for beginners can be tedious and confusing. There are dozens to choose from, all with different little details. Some firms are set up to help you succeed, while others make it hard to get funded and easy to fail.

For this comparison guide, I’ve used, ranked and reviewed the best prop trading firms for beginners.

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What is the Best Proprietary Trading Firm For Beginners?

My pick for the best prop trading firm for beginners goes to...

Apex Trader Funding can help you become a pro trader through their evaluation program that has paid out over $18,032,362 to traders since 2022. They paid out $6,688,574 in the 60 days leading up to May 1, alone. All those traders qualified through a simple one-step evaluation process.

Benefits:

• Get 100% of your first $25,000 in profit and 90% of profits after that. There isn't a better deal out there on this metric.
• Trade multiple accounts with one login, so you don’t have to get accounts at other firms if you don’t want to.
• Qualify for a prop account in as little as 7 days by reaching targets and keeping within a few simple rules
• You can’t accidentally go over position size limits since they’re capped automatically within the software.
• No daily drawdown limit so you only have to stay within the max trailing threshold.
• Ninjatrader or Tradovate license and data fees are free during your evaluation.

Drawbacks:

• Max trailing threshold rises with intraday profits, so if one trade swings from profit to breakeven or loss, your loss threshold is based on your highest account value during that trade.
• Payouts are processed twice/month so you need to wait and request a profit withdrawal between the 1-5th or 20th-25th of each month, and you must trade 10 days before you can request your first payout.
• The firm has discretion on when they move you to a real live account from a paid sim. They seem to keep most traders on sim for a while. Your profit share still works the same way, though.

Pricing:

Starts at $147/mo (less with discount below) until you pass the evaluation and get a funded Pro Account (PA account), where you can begin to withdraw profits. For beginners I recommend the 25k Full, because has the best ratio of profit goal to trailing threshold, compared to some of the other plans. This 1:1 ratio is also the most desirable I've seen out of any futures funding firm, period.

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Not ready yet? Learn more in myApex Trader Funding Review.

Topstep is a popular prop firm for new traders and even those with some experience. Their Trading Combine helps traders get funding using basic rules and reachable goals. Since 2020 they've paid out over $7,950,000 to qualified traders, and funded 8389 new traders.

Whether they’re best for you will depend on what you trade and how.

What I like:

• Pass their Trading Combine in as little as 4 days by achieving the profit target without breaking rules.
• They process payouts every day, so you don’t have to wait for an arbitrary time of month to withdraw your profits.
• End-of-Day Drawdown limit makes it easier to stay within the rules and keep your trading account active.
• Daily Loss Limit is a soft rule, breaking it doesn't blow the account. You just have to stop trading for the day.
• Get group coaching from experienced traders twice per week included with your subscription, and 1-on-1 coaching is available for an extra fee.
• Live trading sessions available if that's your thing. I've sat on some of the live trading calls, and I've spoken with other traders who say these help them make money and improve as traders.
• Trader support is responsive and helpful throughout the trading combine and beyond. They actually have phone support with trade desk assistance which can come in handy.
• Free use of Tradovate, TSTrader, or NinjaTrader 8 during the trading combine, and 11 others available including SierraChart and Bookmap.
• The goal is to get you on a funded account trading real money in the live market,not keep you on a sim account.
• Benefit from real-time trade desk support by phone, from the only online funding firm to offer that.

Nice-to-have:

• Active discord server with traders of all experience levels with helpful moderators and quick support function.
• One-time refund is available for 14 days in case you decide it’s not for you and you haven’t broken any rules yet.
• 14 day free trial of simulation account and community you can try out before beginning a Trading Combine.

Drawbacks:

• Rules make it difficult to scale using micro contracts, since 1 micro gets treated the same as 1 mini and is subject to the same position size limits.

Pricing: Starts at $165 for the $50k Trading Combine. (less with my code)

Get TopStep if you want a fast minimum funding time, daily withdrawals, and live coaching.

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Not ready yet? Learn more in myTopStep Review.

Earn2Trade has helped thousands of new traders get started on the path to professional trading. Based on my 20 years of trading experience, and my experience with Earn2Trade, it’s a great option for new traders.

Earn2Trade’s Trader Career Path (TCP) program and rules help you scale up gradually to a sizeable prop firm account.

Why I like it:

• Start trading, get funded, and level up to a $400k account without having to pay more to start a large account evaluation. It takes several steps to get to $400k, but the opportunity is there.
• Micro futures contracts make it easier to manage risk and are treated as they should be here, as 1/10 of a mini contract - so you can scale in/out according to your strategy.
• Just a few simple risk rules to stay within to keep your account and pass the evaluation.
• Beginner-friendly dashboard includes tools and guides for learning trading, improving, and tracking your progress.
• Trade with the trading platform of your choice, like Sierra Chart, NinjaTrader 8, Bookmap, or 16 others. I personally used and liked Overcharts for my Earn2Trade eval.
• Data is free during the evaluation and there are four free licenses available for trading software (NinjaTrader, Overcharts, R|Trader & R|Trader Pro, and Finamark)
• Complimentary 60-day access to Journalytics ($78 value) to track your trading and work on improvement.
• The goal is to get you to a sizeable prop firm account trading real money in the live market, not keep you on a sim.

Nice-to-have:

• Fast trading account setup is automated, just follow basic emailed instructions to be trading within 10-15 minutes (during trading hours).
• Minimum withdrawal threshold of $100, among the lowest I’ve seen.
• Active discord server with helpful members and admins, to answer questions about the program, trading, or just shoot the breeze on a slow trading day.

My least favorite parts:

• TCP is not the fastest route to funding, with a 15-day minimum evaluation.
• Data fees work like most prop firms, once you pass and get funded, you’ll have to pay monthly data fees - the exchanges charge these, so most firms pass them on to traders. Just didn’t want you to be surprised by these.
• The first live step might have a trailing drawdown, so your max drawdown can reset higher while you’re in a profitable trade, so you’ll want to consider using a trailing stop when letting winners run.

Try the TCP to get started trading, learn the ropes, and manage an account that’s geared towards newer traders.

Earn2Trade is the best proprietary trading firm for beginners because of this Trader Career Path

Pricing:

Trader Career Path (as discussed above): $190/mo until you pass the evaluation and move to the next step, where you can begin to withdraw profits and work to step up to a bigger account.

I recommend you get the Trader Career Path for $190, work your way up to a $400,000 account, and pocket some profits along the way. If you trade consistently and with discipline, you may get a custom offer for a larger account.

Trader Career Path can be canceled by you at any time. Pro-rated refunds are not offered at this time.

Try Earn2Trade Trader Career Path nowMax discount applied automatically

Not ready yet? Learn more in my Earn2Trade Review.

The Bottom Line

With their easy setup, basic rules, and opportunities for quick funding, these are some of the beast proprietary trading firms for beginners. They can help you get started on your journey to become a professional trader, and are set up to help you succeed.

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