The 5 Best Proprietary Trading Firms For Beginners in 2024

1. TakeProfit Trader

TakeProfit Trader has heard the traders speak, and the traders want payouts...well, whenever they ask. TPT lets you withdrawal profits whenever you want, starting day one. Their automated payout system makes it easy to get your money when you've made it.

Whether they’re best for you will depend on whether that's your priority.

What I like:

• Withdraw profits whenever you want, starting day 1, as long as you're above the buffer amount (equal to your loss limit)
• Withdraw as much as you want, above the buffer, with no caps.
• Payouts processed immediately through the automated online system. No waiting for an arbitrary time of month or an approval to withdraw your profits.
• Pass your Trading Test in as little as 2 days by achieving the profit target without breaking rules.
• End-of-Day Drawdown limit in test accounts makes it easier to stay within the rules and pass.
• Trader support is responsive and helpful and available 24/7
• Free use of Tradovate, Tradingview, NinjaTrader 8, and 16 other platforms including Quantower, SierraChart and Bookmap.
• The goal is to get you on a Pro+ account trading real money in the live market, not keep you on a sim account (though Pro accounts do pay real money)
• No scaling plans, so your contract size allowance is always what's specified for your account size.
• Trade unlimited evals if you want, so you can have some on standby ready to fund.
• Trade up to 5 Pro and 5 Pro+ accounts

Nice-to-have:

• Pro Account resets, so if you bust your Pro account and want to pay to revive it, you can do that up to 3 times (pricing is case-by-case).

Drawbacks:

• I'd prefer to see EOD drawdown in the Pro and Pro+ accounts, too. But, you just have to get above the buffer and it stops trailing, so not really a big deal.
• Limited to 5 Pro and 5 Pro+ accounts, but really that should be enough for most traders, especially getting started.
• I'd like to see the daily loss limit be a soft rule (stops trading for the day instead of busting the account). But, I would (and you should) stick to a smaller personal daily loss limit, anyway.

Pricing: Starts at $150 for the $25k Trading Test. (less with my link and code EPICC)

Get TakeProfit Trader if you want anytime withdrawals, uncapped withdrawals, and a fast minimum funding time.

3. UProfit

Uprofit has become a great prop firm for beginners for one main reason. Their $150k 'Freedom' account offers a $5k static drawdown. That's right, your max drawdown amount doesn't go up or down with your profits! All you have to do is keep your balance above $145k (and follow the rules) to keep the account. There is nothing else out there even close to this offer.

The $5k static drawdown also makes this the closest evaluation account to what you'd get in one of the highly selective brick-and-mortar prop firms like SMB Capital or Kershner Trading Group.

UProfit reported $529,000 in withdrawals and 1048 traders funded in June 2023.

What I like:

• $5K static drawdown gives you more room to trade than any other $150k account available, by a long shot.
• Uprofit covers your monthly data fees after you get funded. They do take a one-time assignment fee, which for the $50k account is $150
• Micro futures contracts help you stay in the game, without drawing down too far, because you can size appropriately and layer into trades. 10 micros = one mini, just as it should be.
• Get funded in as little as 5 trading days, just make at least one trade per day, don’t break a rule, and hit your target.
• $50k account has a good target/risk setup, with a $2500 profit goal and max drawdown of $2,000
• Pro Drawdown calculates your max drawdown level at EOD (End of Day) rather than trailing intraday, so a good trade coming back to breakeven wont put you in a bind.
• Data and NinjaTrader 8 are free during the evaluation period. 
• Trading profit withdrawals are processed within 24 hours
• Trade up to 3 accounts with UProfit so you don’t have to use additional companies in order to scale up.

Nice-to-have:

• Account setup is quick and automated, so you can be ready to trade in less than 20 minutes following instructions sent to your email
• Active trader group on facebook with over 9,400 members
• A $9k program is available for getting your feet wet, where most firms start at $50k accounts

Not as great:

• No trader education offered, so beginners have to rely on other sources of information for that, which is fine.

Pricing: Starts at $89 for the 9k program (although I recommend the $150k static 'Freedom' account for reasons stated above)

Get Uprofit if you want the best static account, a quick path to funding (5 day minimum), and anytime withdrawals. 

Not ready yet? Learn more in my Uprofit Review. 

4. Topstep

Topstep offers a set of tools that can help some traders grow more quickly. As the original online prop firm, many traders new and experienced have made Topstep their first choice. Since 2020 they've paid out over $40,000,000 to qualified traders and awarded over 26,000 funded trading accounts.

NOTE: As of 8/16/24, many users have been reporting in the Topstep discord that they have unresolved service issues. Moderators have acknowledged this is happening. Some traders are reporting that they're being charged but not receiving evaluation accounts/resets. Topstep seems to be aware of this issue, which appears to be widespread. Some haven't received their payouts and have been waiting weeks. I have no way to verify the truth of this. Based on responses from Moderators in the Discord, however, it seems to be accurate. They admit they're having customer service and payout delays. That's one reason I suggest you choose an alternative to Topstep for now. I have not updated the Topstep content on this page to reflect these issues.

Now they've released TopstepX, a platform designed to go even further above and beyond the online prop firm model.

Whether they’re best for you will depend on what you trade and how.

What I like:

• TopstepX - Topstep's own trading platform uses fully integrated TradingView charts, and more:
  • ZERO commissions (exchange clearance fees still apply)
  • Allows traders to control daily risk with manual lockout, or by easily setting daily profit targets and loss limits with auto-liquidate and account lockouts.
  • Copy trades from one account to another using built-in trade copier.
  • Scale in/out using micros with 10x micro to mini ratio, a feature many traders have asked for. 
• Topstep is now a one-step prop firm. Pass your Trading Combine in as little as 2 days by achieving the profit target without breaking rules.
• Payouts processed daily, but there are some conditions that limit payout availability.
• End-of-Day Drawdown limit makes it easier to stay within the rules and keep your trading account active.
• Daily Loss Limit is a soft rule, breaking it doesn't blow the account. You just have to stop trading for the day.
• Get group coaching from experienced traders twice per week included with your subscription, and 1-on-1 coaching is available for an extra fee.
• Live trading sessions available if that's your thing. I've sat on some of the live trading calls, and I've spoken with other traders who say listening helps them make money and improve as traders.
• Free use of Tradovate, TSTrader, or NinjaTrader 8 during the trading combine, and 11 others available including SierraChart and Bookmap.
• The goal is to get you on a funded account trading real money in the live market, not keep you on a sim account.
• The original futures prop firm, Topstep has funded traders since 2012

Nice-to-have:

• 14 day free trial of simulation account and community you can try out before beginning a Trading Combine.

Drawbacks:

• Topstep has a history of solving their issues, but sometimes it takes a while.
• Intermittent customer service issues, checkout issues.
• Traders are limited to trading 5 live (Express Funded) accounts at a time with TopstepX.
• TopstepX is a great start for a new platform but still has a ways to go.

Pricing: Starts at $165 for the $50k Trading Combine. (less with my link)

Get TopStep if you want a fast minimum funding time, daily withdrawals, and live coaching.

Learn more in my TopStep Review.