Best Prop Trading Firms in Canada - Top 6 for 2024 reviewed (2024)

Table of Contents
FTMO Conclusion FAQs

Prop trading has captured the attention of Canadians seeking to chart their own financial course beyond traditional career paths. Prop firms fund individual trader talent and motivation with necessary capital, tools and infrastructure – for negotiated profit-sharing arrangements.

With barriers eroding between Wall Street and Main Street, everyday Canadians now question if prop trading could unlock realistic pathways to full-time income. Despite the allure, selecting a reputable prop firm that best aligns with unique skill sets remains shrouded for eager beginners.

This review analyzes six leading international prop trading firms perfect for Canadian traders:

  1. FTMO
  2. The Funded Trader
  3. TopStep
  4. Maven Trading
  5. SurgeTrader
  6. Traders with Edge

We will evaluate founding, services, fee terms, and pros/cons specifically for Canadians. The goal is to showcase viable prop trading options and determine which best aligns with the unique trading talents, skills, and aspirations of Canadians.

FTMO

Best Prop Trading Firms in Canada - Top 6 for 2024 reviewed (2)

FTMO(Financial Trader Magazine OÜ) is an Estonian prop firm launched in 2020 by a team with over a decade of trading industry experience. Their meteoric rise and flawless track record funding traders globally spotlights FTMO as a premier international destination.

Services and Tools

FTMO provides funded accounts from $1,000 up to $100,000 to trade forex, indices, commodities, stocks and cryptocurrencies through their proprietary web-based platforms and mobile app tailored for beginners to advanced traders.

Fee Terms and Account Minimums

A starting account is $1,000. Traders must pass an evaluation combining profit targets, maximum drawdown limits and trading days active to verify skills. Account fee tiers range from 10% to 30% profit splits.

ProsCons
✅ Internationally reputable regulated brand🌐 As an Estonian entity, light regulatory oversight
🏆 Award-winning copy trading technology📉 Steep evaluation phase may deter trading novices
🔍 High transparency performance monitoring
💰 Lucrative profit sharing ratios

The Funded Trader

Best Prop Trading Firms in Canada - Top 6 for 2024 reviewed (3)

The Funded Trader is a NYC-based specialized prop firm catering to stock and options traders which launched in 2022. Founded by ex-Wall Street traders well-versed in equities, The Funded Trader offers retail traders access to institutional grade tools and insights.

Services and Tools

The Funded Trader provides accounts sized from $1,000 to $100,000 to approved stock and options traders through their proprietary web and mobile platforms optimized for active equities trading. Integrated market scanning, options modeling and copy trade abilities are offered.

Fee Terms and Account Minimums

$1,000 minimum account makes The Funded Trader accessible for Canadians. Post passing evaluations, there are no platform fees just profit splits ranging from 80/20 to 70/30 based on account tier.

ProsCons
📈 Specialized stock and options prop trading📉 As a newer firm long term stability largely unproven
💸 Low minimum account threshold $1,000🌐 USA based so light regulatory oversight for Canadians
💰 Favorable and transparent profit split terms📉 Catered to experienced stock and options traders
🛠️ Tools for sophisticated options modeling

TopStep

Best Prop Trading Firms in Canada - Top 6 for 2024 reviewed (4)

Launched in 2011 and headquartered in Chicago, TopStep is an established industry leader in funding retail futures traders looking to access professional capital and technology. With over $6 billion in funded accounts, TopStep brings over a decade of experience.

Services and Tools

TopStep specializes in funding futures traders focused on commodities, forex, global indices and crypto futures. Accounts range from $2,500 up to $2 million in buying power once verified as a skilled trader through TopStep’s evaluation program.

Fee Terms and Account Minimums

The minimum account size is $2,500. There is a one-time $275 platform fee and $125 monthly data fee during evaluation. Post verification, no added fees just profit splits starting at 80/20 for traders.

ProsCons
📈 Established, reputable specialist for futures traders📉 Caters to intermediate and experienced futures traders
💰 Access up to $2 million in buying power🌐 Primarily regulated by NFA and CFTC
💸 Lucrative and transparent profit sharing
🛠️ Advanced futures trading platforms and tools

Maven Trading

Founded in 2020 by industry veterans, Austin-based Maven Trading has rapidly emerged as one of the largest US prop firms catering to active stock, options, crypto and futures traders.

Services and Tools

Maven provides funded accounts from $25,000 up to $1 million funding for experienced traders. Their proprietary platform delivers integrated analytics, automated trading API and paper trading scenarios to test strategies.

Fee Terms and Account Minimums

The minimum $25K account is higher priced but offers elite tiered funding up to $1 million. There are no platform fees, just set profit splits ranging from 15% to 40% based on account balance milestones achieved.

ProsCons
📈 Specialized in stock, options, and crypto trading💰 $25K minimum is higher barrier for newer traders
🛠️ Robust tech capabilities and platform tools📉 As a newer US-based firm, long-term stability not guaranteed
💰 Funding amounts to $1 million available
🤝 Dedicated account manager assignment

SurgeTrader

Best Prop Trading Firms in Canada - Top 6 for 2024 reviewed (5)

Founded in 2019 and headquartered in Seattle, SurgeTrader is a fintech prop trading firm focused on funding stock and options traders through cutting-edge technology and educational resources.

Services and Tools

SurgeTrader specializes in stock and options, funding traders from $7,500 to $300,000 account sizes. Their Custom Pro Trading Platform delivers pro-grade tools like options modeling, automated order execution, algo building and more.

Fee Terms and Account Minimums

Minimum account is $7,500. No platform fees, just profit splits from 75/25% up to 80/20% for traders upon passing SurgeTrader’s Combine evaluation phase demonstrating skills.

ProsCons
📈 Specialized stock and options prop trading📉 Geared to intermediate and experienced traders
🛠️ Powerful proprietary Custom Pro Trading Platform📉 As a newer firm, long-term stability not proven
💰 Access elite funding up to $300,000🌐 US regulations still evolving for prop trading
💸 No platform fees beyond profit splits

Traders With Edge

Best Prop Trading Firms in Canada - Top 6 for 2024 reviewed (6)

Traders With Edge is a Dubai-based prop trading firm launched in 2020 focusing on providing crypto traders access to secure funding, proprietary analytics, and mirror trading technology.

Services and Tools

The firm offers funded accounts from $1,000 up to $50,000 to verified crypto traders. Their platform delivers integrated charting, on-chain metrics, sentiment tools, bot trading, and copy trade abilities specifically for digital assets.

Fee Terms and Account Minimums

The minimum account starts at $1,000 making it accessible for everyday Canadians looking to prop trade crypto strategies. No platform fees, just set profit splits ranging from 80/20 to 70/30 based on account tier attained.

ProsCons
📈 Specialized crypto prop trading firm🌐 Based in Dubai so light regulation
🛠️ Advanced web-based proprietary platform📉 As a new company, long-term stability not guaranteed
💸 Lucrative and transparent profit splits
🔍 Access to mirror trading technology

Conclusion

This comprehensive review analyzed six leading global prop trading firms actively providing funded services to aspiring traders based in Canada. While offerings differ, all profiled companies enable Canadians to access professional-grade trading capital, analytics and infrastructure to unlock income potential from global markets.

  • FTMO – Multi-asset backing at scale ⬆️ $100K
  • The Funded Trader – Sophisticated stock/options focus
  • TopStep – Authority in futures, over $2M buying power
  • Maven Trading – Expert crypto and securities trades up to $1M
  • SurgeTrader – Cutting-edge options order execution
  • Traders With Edge – Crypto-centric, accessible $1K minimum

Rather than one outright leader – traders can leverage strengths aligning closest with preferences across:

  • Asset classes traded
  • Platform capabilities
  • Funding account tiers
  • Profit split arrangements

As prop trading keeps advancing in Canada, reputable global firms stand keen to keep pace with innovations in regulation, technology and accessibility. The time has arrived for more independent traders to access proven springboards helping unlock income potential in 2024.

FAQs

  1. What is the minimum to start prop trading in Canada?

Minimums range from $500 with some firms up to $25,000 for elite status, depending on account tier targets.

  1. Which markets can I trade via Canadian prop firms?

Most prop firms offer trading in stocks, options, futures, forex, crypto and other major assets classes.

  1. How do funded account profits get split?

Commonly 80/20 to 60/40 splits between traders and the firm, incentivizing trader performance with higher percentages.

  1. Can Canadians copy other successful prop traders?

Yes, many firms provide mirror trading and signal tools to automate copying profitable traders.

  1. Can prop trading fully replace a 9 to 5 job?

Given discipline and dedication, consistently profitable traders can exceed regular job income over time by scaling strategies.

Best Prop Trading Firms in Canada - Top 6 for 2024 reviewed (2024)

FAQs

What is the best prop firm in 2024? ›

Quick Look: Best Prop Trading Firms
  • Best for Beginner Futures Traders: Apex Trader Funding.
  • Best for Experienced Traders: FXIFY.
  • Best for Stock Traders: Trade the Pool.
  • Best for Experienced and Beginner Forex, Indices and Metal Traders: The 5ers.
  • Best for All Futures Traders: BluSky.

What are the top 5 futures prop firms? ›

The top futures prop firms are TopStepTrader, Jane Street, FTMO, 3Red Partners and The Trading Pit. Jane Street and 3Red Partners are very secretive about their fees and profit splits but they do offer some of the best technology and high-frequency trading.

Which prop firm is the most trusted? ›

Best Prop Trading Firms 2024 - Reviewed by Experts
  • Topstep.
  • The 5%ers.
  • Earn2Trade.
  • SurgeTrader.
  • FTMO.
  • E8.
  • City Traders Imperium.
  • Fidelcrest.
Feb 2, 2024

Are there prop firms in Canada? ›

Yes, prop trading firms are legit and exist as real companies. They may not be registered directly in Canada but they allow citizens from there to access their funded accounts.

Do prop firms really pay out? ›

Yes, prop firms do pay. While there are some scams out there popping up everyday, reputable prop trading firms like True Forex Funds, FTMO,5%ers,FundedNext are legitimate and pay traders according to their profit-sharing agreements. As for True Forex Funds, I can vouch for their credibility.

How do I choose a prop firm? ›

Vetting the Prop Firm's Track Record

The first step when deciding on any prop trading firm should be an in-depth look at its reputation and history in the industry. A firm's standing within the trading community will highlight its reliability and ability to support its traders with a secure trading environment.

Which prop firm has the fastest payout? ›

Top Forex Firms Based on Pay-out Frequencies
  • Maven [5 days] Matching Funding Pips, Maven also offers pay-outs every 5 days, understanding the need to provide traders with frequent capital access. ...
  • Traddoo [7 days] ...
  • Funded Trading Plus [7 days] ...
  • Smart Prop Trader [12 days] ...
  • Summary.
Feb 14, 2024

Why is FTMO banned in US? ›

FTMO have now restricted access to all new US-based traders as of January 2024. This appears to be related to regulatory issues and may have something to do with the recent My Forex Funds case.

Which futures is most profitable? ›

What futures are most profitable? Trading in futures markets such as the Micro E-Mini Russell 2000 (M2K), Micro E-Mini S&P 500 (MES), Micro E-Mini Dow (MYM), and Micro E-Micro FX contracts can be highly profitable due to their distinct market characteristics.

Which prop firm has the lowest fees? ›

Best cheap forex prop firms
  • FTMO: evaluations starting at $399.
  • TopStepTrader: Challenges starting at $375.
  • T4tCapital: Flexible evaluation options starting at $299.
  • Funded Trading Plus: Starting at $25.
  • Earn2Trade: $99 Mini challenge.
  • True Trading Group: $49 evaluation with a $25,000 virtual account.
Feb 27, 2024

Are there any legitimate prop firms? ›

FTMO (previously known as MyForexUniverse) is one of the largest and best-known prop firms globally. Based in the Czech Republic, they provide funded accounts up to $400,000 to traders that can pass their evaluation.

Which prop firm has the lowest spread? ›

Smart Prop Trader is one such low spread prop firm offering trading accounts with very low discrepancies between the asking price and the bid or spreads that generally average low.

Does FTMO accept Canada clients? ›

Apart from the exceptions listed below, we accept clients from all around the world. There is no special qualification required.

Can you use FTMO in Canada? ›

FTMO (Funded Trader by MyOwn) is arguably the most well-known forex prop firm globally. Founded in Prague in 2017, it has funded over 60,000 traders worldwide with over $350 million. FTMO offers Canadian traders access to a pool of up to $200,000 to trade risk-free.

What percentage do prop firms take? ›

A prop trading firm looks to recruit talented traders and fund them with the company's capital. The funds that a trader makes, is then split between the trader and the company. The profit share is between 50 – 95%, with the trader taking the lion's share.

Is FTMO the best prop firm? ›

One of the main reasons why FTMO is a good prop firm is their investment options. They offer traders the opportunity to trade with their own capital, as well as access to additional capital from FTMO.

What percentage of people pass prop firm challenges? ›

The article from Lux Trading Firm provides slightly different results. According to it, 4% of traders, on average, pass prop firm challenges. But only 1% of traders kept their funded accounts for a reasonable amount of time.

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