Navigating the trading world as a beginner can be daunting, but funded trading accounts make it easier than ever to start trading without needing a massive amount of capital upfront. These accounts provide traders with access to funding, allowing them to test and hone their skills with real money, all while mitigating much of the financial risk. With 2024 shaping up to be a big year for trading innovations, here’s a look at the top funded trading accounts to consider as a new trader.
What Are Funded Trading Accounts?
Funded trading accounts connect aspiring traders with proprietary trading firms (also known as prop firms). These firms provide the capital, and traders keep a share of the profits while adhering to specific risk management rules. Think of it as a partnership where you showcase your talent, and the firm provides the resources.
Top Funded Trading Accounts for 2024
1. TopStep Trader
TopStep has long been a favorite among trading newcomers. Known for its rigorous evaluation process, the firm offers funded trading accounts for futures and forex traders. Success in its evaluation earns you access to capital, with traders keeping up to 90% of their profits. TopStep also provides educational resources, ensuring you grow as you trade.
Key Stats:
• Evaluation cost starts at $165/month
• Traders keep up to 90% of their profits
• Access to both forex and futures markets
2. FTMO
FTMO has gained popularity due to its flexibility and extensive training programs. Traders undergo a two-step evaluation process and, once approved, can access a funded trading account with capital up to $200,000. FTMO emphasizes risk management, making it an excellent choice for disciplined beginners.
Key Stats:
• Capital allocation up to $200,000
• Traders keep up to 90% of their profits
• Offers forex, commodities, and indices trading
3. My Forex Funds
Relatively new, My Forex Funds has quickly become a top choice thanks to its low entry barrier and accessible profit-sharing models. Their three different account types cater to varying skill levels, and traders can keep 85% of their profits.
Key Stats:
• Account types for beginners and professionals
• Profit split up to 85%
• Evaluation fees as low as $49
Why Funded Accounts Are Perfect for New Traders
Funded trading accounts allow new traders to dip their toes into the market without needing to risk personal capital. Beyond financial benefits, these accounts often come paired with educational resources, mentorship programs, and access to trading platforms, creating an environment well-suited for learning and growth.
