There are several ways to tell if a forex prop firm is legitimate. In recent years, there’s been a rise of illegitimate prop firms looking to scam forex traders out of their profits. To navigate the prop funding world with minimal risk, traders must understand what red flags to look for – and how to protect themselves.
As a forex trader yourself, Funding Traders provides a safe, transparent, and trusted environment where you can scale your profits with:
- No Time Limits
- Up To 100% Profit Splits
- Fast 7 & 14 Day Payouts
- Comprehensive Funding Evaluations
Carefully check and gain confidence in your prop firm partner. Read on to tell if your forex prop firm is legit.
Review The Evaluation Criteria
Carefully review the evaluation criteria to verify your prop trading firm’s legitimacy. Legit prop firms don’t offer capital to just anyone. To get funded, you’ll need to complete a 1 or 2-Step challenge process that puts your trading to the test. Prop firms that are legit require specific profit targets, requirements, and maximum drawdowns that you must adhere to.
Funding Traders offers comprehensive, transparent prop firm evaluations on $5K to $2M forex accounts. Our performance metrics and limits include:
1-Step Challenge
- 10% Profit Target
- 4% Maximum Daily Loss
- 5% Maximum Loss (Trailing On Account Balance)
- 1 Minimum Trading Day
- Unlimited Trading Period With No Commissions
2-Step Evaluation
- Phase One: 10% Profit Target
- Phase Two: 5% Profit Target
- Phase One And Two: 5% Maximum Daily Loss
- Phase One And Two: 10% Maximum Loss
- Maximum And Daily Drawdown Are Static
- Unlimited Trading Period With No Commissions
These targets and limitations are in-place to ensure that only profitable and talented traders receive funding. After all, every legit prop firm wants to maximize profits, reduce risk, and prevent losses. Certainly, review the evaluation criteria to tell if your prop firm is legit.
Look For A Transparent & Fair Profit-Sharing Model
Legit prop funding firms also offer a transparent, fair, and competitive profit-sharing model. Transparent profit shares are foundational to a dependable and trustworthy prop trading firm. Prioritize firms that are clear about how their profit-splitting agreement works.
Funding Traders maintains a clear, transparent, and industry-leading profit share structure – free of any hidden challenges or scams. Here’s how it works:
- Our Default Profit Split Is 80/20
- You Can Upgrade To A 90% Or 100% Profit Split With Our Add-On
- The Minimum Payout Is $50 Profit For Any Account Size
As a transparent and fully-legitimate prop firm, we want you to be completely aware of how you will be compensated for your trading performance. After all, there is no other forex prop firm that offers a 100% profit split like Funding Traders. Definitely, every legit prop firm should offer a transparent, fair, and clear profit-sharing model.
Examine Their Reputation In The Industry
To make sure your prop firm is totally legit, examine their reputation across the forex trading industry. Choose a firm with a well-known name and solid online presence. Take some time to browse their website – learn more about the funding process, payout system, and premium plans. You can read some blog articles and check out the latest news to get all the information you need.
> Make sure everything is free of any inconsistencies or errors. These noticeable mistakes could indicate that the prop firm is a potential scam.
Indeed, legit prop firms should maintain a positive, well-reviewed reputation across the forex trading industry.
Evaluate The Support Provided
A legit prop firm in forex should also provide reliable, knowledgeable, and responsive customer support. Every day, hour, and second counts when you’re trading forex currencies. So, you want to partner with a firm that provides expert support whenever you need it. Legit prop firms have an experienced support team that is ready-to-help.
> At Funding Traders, our goal is to provide an equitable and secure environment while offering support to traders who encounter possible issues.
In addition to our robust support team, legitimate prop firms offer a dedicated community on Discord and Telegram. These channels provide the ultimate setting to share ideas, discuss strategies, and get assistance when needed.
> Join Funding Traders On Discord
> Join Funding Traders On Telegram
Legit prop firms should provide their traders with dedicated and experienced customer support.
Read Reviews From Actual Forex Traders
To ensure you’ve chosen a prop trading firm that’s fully-legitimate, take some time to read recent reviews. Online reviews provide you with a better idea of what actual, profitable forex traders are saying. See how they rank the prop firm’s service, trading infrastructure, and support provided. Try to stick with a firm that has plenty of positive and recent reviews. You should also read some success stories from satisfied traders.
> We let you hear from profitable traders with funded accounts up to $2,000,000. See the results you can achieve with a legit prop trading firm.
See what others are saying about the firm’s legitimacy, transparency, and reliability. Read reviews to tell if your forex prop firm is legit.
There are several effective ways to tell if your forex prop trading firm is legitimate. Start by reviewing the evaluation and challenge criteria to get funded. Review the profit-sharing agreement model and structure too. You want to verify the agreement is fair, clear, and transparent. Next, take a look at the firm’s reputation across the forex trading industry. Read some recent reviews from actual forex traders to support your decision. Then, think about the support and community options available to traders. Follow the points above to determine if your prop firm is legit. Then, click here to get funded and start your trading journey.
