Look for Prop Firms Currently Running Discounts? Or If you’re looking to jumpstart your trading career without breaking the bank, now’s the perfect time to seize the opportunity. Some of the top prop firms have really amazing discounts, making getting funded and starting to trade more affordable and smooth than ever before. These limited-time promotions may definitively lower the barriers to entry for traders in order to access top-tier trading capital with reduced evaluation fees or other perks that come along. Be it an experienced trader in search of a better bargain or a newbie ready to begin their journey, these prop firm discounts could very well be the key to unlock their trading success. In this article, Let’s dive into the best offers available and how you can make the most of them!
Definition and Role of a Prop Firm
A prop firm is a company that provides traders with the capital to trade in various financial markets, which could be forex, stocks, commodities, or cryptocurrencies. The firm will only make money by sharing a percentage of the profits earned by the trader. They work on the philosophy that skilled traders exist and can turn a profit but may not have enough capital to realize their full potential.
Prop firms fill in by providing the funding themselves, hence enabling traders to take larger positions in markets without using their own money. In return, prop firms put in place very stringent risk management rules that help preserve their capital, quite often requiring the trader to stick to daily and maximum loss limits.
How Prop Trading Works
Proprietary trading, or prop trading, is when the firm provides the trader with capital to speculate in any of the financial markets. They take financial risk while taking a share in your profit. It thus creates a symbiotic relationship between the trader and the firm-the traders will get more capital than they otherwise would, and the firms benefit from the generated potential profits that skilled traders can create.
Here’s how it generally works:
- Evaluation Phase: Most prop firms require traders to go through an evaluation phase where they can prove their merits. This could be in terms of hitting certain profit targets while following strict risk management rules.
- Funding: A trader who makes it through the assessment will have a funded account with the firm. The trader can trade these funds, but any losses are covered by the firm provided the trader is within the risk directives set forth.
- Profit Split: The trader gets a share of the profit at the firm, which ranges from 50% upwards into as high as 90%, depending on the terms given by the firm.
- Scaling Opportunities: Many prop firms, upon seeing consistency in a trader’s performance, offer scaling programs that will enable him to access even more capital, thus reaping potentially even higher profits.
Benefits of Being Part of a Prop Firm
- Access to Capital: Access to considerable capital perhaps is one of the biggest attractions for prop trading. It lets traders work with accounts from $10,000 up to several hundred thousand dollars, which is a way to scale strategies in ways one wouldn’t have been able to do on his own.
- Less Personal Risk: Unlike trading with personal funds, joining a prop firm means the firm absorbs most of the risk. You may lose your access to firm capital in case of a violation of their risk rules, but at the same time, you don’t risk your personal assets.
- Profit Potential: With larger accounts come potentially larger profits. Even with profit-sharing, traders can gain high income without having to tie up their money.
- Professional Trading Environment: Either way, many prop firms have state-of-the-art trading platforms with charting tools and advanced market data to let the traders develop and fine-tune their skills in a professional-grade environment.
- Mentoring and Support: Other firms also offer coaching, mentorship, and community support to the traders in terms of performance. This might be more valuable to new traders wanting to accelerate the learning process.
- Scaling Opportunities: Prop firms tend to shower consistent traders with the opportunity to manage larger accounts, which can increase profit potential and continue growing their career without the added personal risk. Trading with a prop firm offers traders the opportunity to leverage much larger capital, with much lower personal risk-a very attractive way for rookie and advanced traders to ramp up their strategies.
Current Prop Firms Offering Discounts
- The 5%ers: 5% off on all challenges + Free Account of the Same Size if Reaching Payout in a form of Hub Credit (100K High stakes not included)
- Alpha Capital Group: 20% off on all challenges
- OANDA Prop Trader: 25% off on 25K to 100K challenges
- Breakout: 5% off + Free Account of the Same Size if Reaching Payout – on all challenges (First order only)
- Code
- E8 Markets: 90% profit split on 1-step challenges, 5% off on all challenges, 20% off on 3-steps challenges – for first purchases only
- Funding Pips: 7% off all challenges – first order only
- Goat Funded Trader: 50% off on 5K to 100K challenges – first purchase only
- Maven: 8% off + Free Account of the Same Size if Reaching Payout on 5K to 50K challenges
- Apex Trader Funding: 80% off every evaluation for first month and recurring months + $35 Resets + One Day to Pass
- My Funded FX: 12.5% discount on all plans – unlimited use per user
- My Funded Futures: 5% off on all challenges – unlimited use
- Blue Guardian: 25.5% off on all challenges
- Funded Trading Plus: 10% off all instant plans
- Funding Traders: 20% off on 350K and 500K challenge accounts
- Funding Traders; 30% off on all challenges below 350K
- My Funded FX: 10% off on all challenges
- FTMO: €89 exclusively for users not currently engaged in a 10K FTMO challenge. – on 10K challenges
- Elite Trader Funding: 70% off on all non-fast tracks challenges
- For Traders: 15% off + 15% profit share from challenge phase on all challenges
- FundedNext: 5% off on all challenges
- BrightFunded: 12% off + bi-weekly payouts + Free Account of the Same Size if Reaching Payout on All Challenges
How to Choose the Right Prop Firm- With Discounts
Selecting the right prop firm is a critical decision that can significantly impact your trading career. With many firms offering various features and funding options, it’s important to assess key factors that match your trading style and goals. Additionally, taking advantage of discounts and promotions can help minimize upfront costs and maximize your returns. Here’s how you can make the best choice:
Review Funding Programs
Compare the firms based on the many funding options available. Some firms will have a minimum account size of $10,000 to start, while others will go to $500,000 or more. Consider whether the firm has a clear path for scaling up as you demonstrate consistent performance.
Some firms have limits on how much initial capital can be issued, while others allow a trader to grow from small beginnings. Be sure the amount suits your needs and philosophies in trading.
Profit Split and Payout Checking
Most companies have profit splits that range between 50% and 90% of the splits. Again, the better the split, the more of your profits you will keep. Check how often the firm distributes the profits, as some firms distribute the profit on a monthly basis, or even bi-weekly.
Several firms limit how often you can withdraw your profits or how much you need to make before taking your first withdrawal. Seek a firm that will provide you with flexibility in terms of when and how you can access your earnings.
Look for Discount Opportunities
There is an evaluation fee charged by most prop firms that covers assessing your trading skills. Some firms may offer evaluation fee discounts on selected dates due to special events, promotions, or even referral code discounts.
Most of the prop firms have sales during holidays, such as Black Friday, Christmas, or New Year. Catch those dates for discounts on your evaluation fees or monthly subscriptions.
A few companies do have a referral program whereby you can refer new traders to the platform, and in turn, you get compensated through a discount or even free evaluations. You may also get certain special discount codes from affiliates or trading communities.
Test the Trading Conditions
Make sure the firm allows trading the market you want to trade. It can be forex, stocks, commodities, or cryptocurrencies. Some firms only focus on certain asset classes, whereas others are more diverse.
Check how much leverage is provided, what daily drawdown limits, and the maximum ones are. This will give a good idea if the firm’s rules for risk management correspond with your trading strategy.
Many prop firms provide access to platforms like MetaTrader 4/5, cTrader, or custom trading interfaces. Choose one that offers the tools and features you’re familiar with.
Consider the Evaluation Process
Each prop firm has an evaluation phase where traders must achieve some specific profit and goals regarding risk management. Check how tight these evaluations are, whether the firm gives retry options or account resets in case one fails to meet targets.
Some firms are very strict about the time limits for attaining evaluation goals, while others allow flexibility in the evaluation period. You must choose the firm that gives you enough time to express your capabilities without any pressure.
Community Support and Mentorship
Certain prop firms provide teaching, mentorship, or even webinars for enhancement in trading performance. If you’re one of those who learns and grows with everything, choose a firm that avails its resources for them.
Having a supportive community can mean the difference. Find a company that gives you trader forums, Discord channels, or other group resources in which to share and learn from others.
Taxes and Other Hidden Costs
Evaluation and Platform Fees: Other than the evaluation fee itself, identify if there are recurring platform fees or any charges to access data. Be sure that you understand all the costs involved before making a commitment with the firm. Most of those firms enable one to have a retake in case one doesn’t pass the challenge and so may charge some revaluation fee. Find one which either offers a discounted re-take or some promo in redoing the evaluation.
Frequently Asked Questions (FAQs)
What is a prop trading firm?
A prop firm is a type of financial institution. You might also see them referred to as “proprietary trading firms,” but they’re the same thing. They’re run by experienced traders who use the firm’s capital to trade, buy, and sell assets including: Foreign Exchange Trading (Forex), Commodities, Cryptocurrency, Stocks.
With a prop firm, you are essentially trading your own skills for them. You will get access to various markets and different trading tools; for that, you are responsible for your own trading.
Why do prop trading firms offer discounts?
Prop firms offer discounts to attract new traders, celebrate special events, or stay competitive in the market. These discounts can reduce the cost of evaluation programs or membership fees.
Are discounted prop firm programs worth it?
Yes, if you find a reputable firm with favorable terms. However, you should always read the fine print, as discounts may come with restrictions or limitations.
How do I qualify for a prop firm discount?
Qualification depends on the firm, but typically involves passing an evaluation phase or meeting specific criteria such as trading performance or experience.
Do discounts affect the amount of capital provided by the prop firm?
Not necessarily. However, some firms may adjust certain terms, so it’s essential to verify whether the discounted program provides the same level of capital as the full-price version.
What should I watch out for in discount offers?
Look for hidden fees, limited-time terms, and conditions that may impact your trading experience. Make sure that the discounted program aligns with your trading goals and risk tolerance.
What happens if I fail the prop firm evaluation while using a discount?
This depends on the firm’s policies. Some may allow retakes at a lower cost, while others may require you to pay full price for a new evaluation.
