*Updated on September 21, 2022*
You could be wondering how to get instant funding for forex. It is not as difficult as you think. Because there are now a handful of prop firms that provide instant funding for forex traders. However, not all are created equal in terms of fairness. As a result, while selecting a prop firm to trade forex, you must examine various criteria before making a decision. These aspects will be discussed in this article. You can place your trust in Funded Trading to find the most suitable instant funding forex prop firm for you.
Which Prop Firms Offers Instant Funding For Forex?
Many prop firms claim they offer instant funding, but if you have to do an evaluation first, then it is not instant funding. Therefore, when choosing a prop firm with a one-time fee and no hidden costs, you should select one with no challenge and provides instant funding. These evaluations might not be ideal for all everyone. The fees that are collected from traders that fail to pass the challenge are the primary source of revenue for some prop firms, thus, some firms purposefully make the challenge as difficult as they possibly can.
Forex trading is supported by all prop firms. So all that remains is to compile a list of prop firms that can provide instant funding for forex trading.
(Get 10% off if you use our special code FUNDEDTRADING10)
The first one we recommend is FundYourFX. There is a reason they are ranked first on our list. First and foremost, there is the cost of joining. They have 3 different funded trader programs. For a fee of £147, you get the Starter program and have $6,000 in real capital. They also have the Standard at £297 for $15,000 funding. The last is the Professional program with $30,000 funding for £577. And your fee is refundable on your 5th profit share. So as long as you are profitable and able to hit 10% profit 5 times, your fee will be refunded.
Because this is a real account and not a demo account, you will be dealing with actual money at all times. This is one more reason why we have evaluated them so highly.
Across all of the prop firms that we researched, we found that the fee and the capital offered by FundYourFX are the most value for their money. Not to mention the fact that in addition to this, their trading regulations are among the most relaxed that we have encountered, if not the most relaxed overall. You may trade based on the news, hedge your positions, and leave trades open over the weekend and overnight. You are not restricted from using any of your own personal EAs either. This prop firm has fulfilled all of one’s expectations and more.
Since we are focusing on forex, the leverage offered in FundYourFX is 1:100 for forex. They provide more than 40 currency pairings to choose from, including major, minor, and exotic trading pairs. If you are a forex trader, you probably can’t go wrong here.
If you want to learn more, check out our comprehensive review of FundYourFX!
They are another prop firm with instant funding. But we’ll tell you why they are not as good as FundYourFX. For a fee of £200, you only get $6,000 capital. Even their $10,000 account costs £330. And the leverage is small. In their low-risk programs, the leverage is 1:6. The trading rules are pretty flexible as well, similar to FundYourFX. You also get a real account from day one. The only difference is that here the leverage is much lower, and the one-time fee is higher compared to FundYourFX.
If you want to learn more, check out our comprehensive review of The 5%ers!
FTUK (Forex Traders UK)
(Get a 5% discount if you use our special code FT5)
Another instant forex funding program available is FTUK. But the fee they charge is much higher compared to FundYouFX or The 5%ers. The cheapest on offer is £150 for $3,000 capital. If that is not enough, there is £950 with £17,500 of capital. Yes, those are very expensive. They have a low-risk and aggressive instant funding program. Both have the same price, but the difference is the profit target and leverage. Low-risk has a 10% profit target, leverage of 1:10, and 180 days to attain the profit target. Aggressive has a 25% profit target, 1:30 leverage, and 90 days to attain the profit target.
FundYourFX still has better leverage compared to both The 5%ers and FTUK. FTUK trading rules are just as flexible as both.
If you want to learn more, check out our comprehensive review of FTUK!
The last one on the list is MyForexFunds. We can’t really recommend them because we have seen a lot of negative reviews regarding them. But even if we talk about them, we still feel there are better options on the list.
But we will still talk about them. We found that the fee is also expensive here. Just to get $10,000 in funding, would cost you £400. If you want something cheaper, their £80 fee only gets you $2,000 funding. Not as expensive as FTUK, but still behind FundYourFX and The 5%ers.
Another disadvantage is the maximum drawdown is 5%. That is half of what FundYourFX offers. It’s going to be tough trading with that.
If you want to learn more, check out our comprehensive review of MyForexFunds!
City Traders Imperium
(Get a 5% discount if you use our special code ctidiscount5%)
City Traders Imperium is our newly reviewed prop firm. They are quite well known and based in the UK. You may begin your road toward becoming a Funded Trader in City Traders Imperium by selecting an Evaluation plan; alternatively, you can choose to forego the evaluation entirely by selecting one of their Direct Funding plans.
They only offer to trade with Forex, Gold, and Indices. Looking at the price, it is quite expensive when compared to the other prop firms on our list.
If you want to learn more, check out our comprehensive review of City Traders Imperium!
Funded Trading Plus
(Get a 10% discount if you use our special code FTR)
There is no assessment process for the Funded Trading Plus master trader program account. This indicates that you will get the money you need immediately. There is no fixed profit target, and you will earn 70% of the profits (which may potentially rise to 90%). Keep a watch on the relative drawdown at 5% and that’s about all there is to it.
If a trader passes an assessment with Funded Trading Plus or is enrolled in their Master Trader Program, they will be instantly put on a real server rather than a demo server, and EightCap will act as their broker. Risk management systems could decide to hedge part or all of their trade in order to reduce the amount of possible risk they might sustain in the event of an adverse event. They may also protect their investments by deploying evaluation traders to a live server.
If you want to learn more, check out our comprehensive review of Funded Trading Plus!
Starting at $15,000, Audacity Capital’s Funded Trader Program provides participants with a real, live trading account. In order to have low spreads and no commission or swap costs, they employ a liquidity provider. The profit split for this is 50/50.
The program’s quick scaling approach involves doubling the trader’s money every time he or she reaches a 10% profit target. In addition, they provide a 10% absolute drawdown that does not trail from the profits.
To get immediate funding for this, you will need to go through an interview. The program’s Funded Trader Accounts have maximum funding of $500,000, and acceptance into the program is contingent upon meeting specific criteria. Payment of a £298 application fee and a £99 monthly platform charge is required to begin trading on the Audacity Capital platform after you have been accepted. I’ll repeat, a monthly platform fee of £99 will be required.
If you want to learn more, check out our comprehensive review of Audacity Capital!
FundYourFX emerges as the clear winner when we compare the various instant funding options for forex trading. Trading forex should have lower costs and more loosened restrictions, as well as improved leverage and, most significantly, quick funding.