I plan on having a funded account. Am told many prop firms aren’t genuine, Any good and reputable prop firm you can recommend?
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It depends what you mean by “genuine”, I think.
Out of the forex/CFD ones, the one with the best overall reputation is almost certainly FTMO (now owned by the broker Oanda). But it’s increasingly widely reported that even there, the number of people who take an evaluation and ever get as far as a payout is only about 1 in 500. I think they’re “genuine,” though, in that they’re not dishonest and don’t refuse to pay people who win. It’s just that what you have to do, to make money from it, is MUCH harder than people appreciate.
It’s certainly fair to say that from the customer perspective, the futures prop firms (Tradeday, Topstep, Earn2Trade, but not Apex) look a much, much better proposition.
They’re genuine, and realistic and achievable too (if you can trade profitably). And their own incentive, once you’re funded, is for you to win, not to lose. That’s pretty significant!
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We’re kind of assuming that, as the starting-position, aren’t we?
In the sense that if you can’t (or if you haven’t already proven to yourself, on demo, a couple of times, that you can pass whatever the exact evaluation is, under the exact rules used by whichever company you’ve chosen) then clearly there’s no point at all in paying the company to try it, is there?
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