Prop trading firms have become one of the easiest ways for traders to grow without risking huge amounts of their own money. Instead of putting up thousands, you can trade a firm’s capital once you pass their evaluation. In return, you keep a large share of the profits.
For beginners, the two biggest questions are usually: Which prop firm should I choose? and How do I actually start?
Let’s break it down step by step.
Step 1: Understand the Difference Between Futures and Forex
Before picking a prop firm, it helps to know what you want to trade:
- Futures trading is popular in the U.S. and offers access to products like the S&P 500, crude oil, and Nasdaq.
- Forex trading is about currency pairs like EUR/USD or GBP/JPY. It runs 24 hours a day during the week.
Both markets can be traded through prop firms. The right choice depends on whether you prefer futures or forex.
Step 2: Choose Beginner-Friendly Prop Firms
If you’re just starting out, look for firms that keep things simple, integrate with platforms you already know, and offer strong support. Two standouts are:
Apex Trader Funding (Futures)
- Fully integrates with TradingView, so you can analyze and place trades on the same screen.
- Offers account sizes up to $300K.
- Payouts are generous: you keep 100% of the first $25K profit, then 90% after that.
- Trader-friendly rules like no daily drawdown and fast payouts every 8 days.
ThinkMarkets (Forex)
- A trusted broker that partners with several forex prop firms.
- Offers direct TradingView integration, which means smooth charting and trading in one place.
- Known for strong customer support and reliable execution.
- Ideal if you want to focus on forex pairs instead of futures.
Both Apex and ThinkMarkets are beginner-friendly because they work with TradingView, which most traders are already comfortable using.
Step 3: Understand the Costs
This part trips up many beginners.
- Futures prop firms (like Apex) usually charge a monthly subscription fee for the evaluation until you pass.
- Forex prop firms (like those using ThinkMarkets) usually charge a one-time fee for the challenge.
Neither is “better” — it just depends on your trading style. If you pass quickly, a futures monthly fee can be cheaper. If it takes longer, forex’s one-time fee might save you money.
Step 4: Practice and Pass the Evaluation
Both types of firms require you to pass an evaluation first. This proves you can trade responsibly.
Tips for passing:
- Stick to one or two setups you understand well.
- Avoid overtrading just to hit profit targets.
- Manage risk carefully — most firms care more about consistency than wild profits.
Step 5: Start Trading the Firm’s Capital
Once you pass, you get access to the firm’s funded account. From there, the focus is simple: trade your setups, follow the rules, and grow your profit split.
Pros and Cons of Prop Firms
Pros
- Trade large accounts without risking big personal capital.
- Keep a big share of profits.
- Direct TradingView integration for smooth charting and trading.
- Access to strong support and education.
Cons
- Must pass an evaluation challenge first.
- Monthly vs one-time costs depending on futures or forex.
- Rules around drawdown and risk must be followed carefully.
For beginners looking at prop trading firms, start with platforms that are simple and well supported.
- If you want to trade futures, Apex Trader Funding is an excellent choice thanks to its TradingView integration, large accounts, and fair rules.
- If you prefer forex, ThinkMarkets is a reliable partner, offering smooth TradingView trading and strong support.
Both give you the chance to grow as a trader while using someone else’s capital. With patience and practice, prop trading can be your gateway into professional trading without the heavy personal risk.
