The Best Funded Trader Program of 2020
Funded trading accounts offer the best of both worlds. You can make money doing something you love, while at the same time not risking any of your capital. A funded trader program is especially appropriate for beginners. But what is the best funded trader program? Let's go through the list of all providers, their pros and cons.
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Best Funded Trader Programs
- Best for Trading Futures: TopstepTrader
- Best for Trading Forex: TopstepFX
- Best Newcomer: Earn2Trade
What Makes a Good Funded Trader Program?
Good funded trader programs help you to get started by offering education, webinars, and support. At the same time, excellent institutional-grade trading platforms and trustworthy funded trading account partners are important.
Are Funded Trader Accounts Worth It?
The main benefit of funded trader accounts is the limited risk factor. There is a small monthly fee for real-time data and the platform. In return, you gain access to a funded account once you proved that you have the right skills needed to be successful. Once you got funded, you keep up to 80% of the profit and request a payout to your checking account.
7 Best Funded Trader Programs
As an industry leader and one of the fastest-growing companies in the United States, TopstepTrader has the brand-power and reputation that traders trust. To participate in its funded account program, you first need to complete the Trading Combine. Here, you enter a real-time simulated futures account with $30,000 to $150,000 of paper currency to test if you're ready for the real thing.
You graduate if:
- You can apply the software, make profits and control against large drawdowns
- You show consistent profitability and manage risk in the process
- Complete steps 1 and 2 in at least 15 days
Other requirements include:
- You meet your accounts profit targets
- You only trade permitted products during permitted times
- You do not hit or exceed the daily loss limit
- You do not hold positions into major economic releases
- You follow TopstepTraders scaling plan
So let's assume you have what it takes. Once you complete the Trading Combine, you enter the funded trader Program. Here, the TopstepTrader team allocates capital to your account and lets you trade in real-time with zero personal risks.
So what happens when you start trading?
- You keep your first $5,000 in profits and 80% thereafter
- You can expand your asset-base to include trading EUREX products
- You can withdraw your profits at any time, and there is no wire fee for withdrawals over $500
- Your trades have zero commissions and zero clearing fees using TSTrader.
TopstepTrader discloses the official company name and address on their website: TopstepTrader, LLC, 130 South Jefferson Suite 200, Chicago, Illinois 60661.
We recommend starting with the free trial TopstepTrader provides.
Limited Time Offer
- TopstepTrader 20% Discount (Automatic discount on all account sizes - ignore the popups on their site, my automatic discount is higher)
For a detailed look at the entire service, check out our complete TopstepTrader review.
Currency specialists rejoice, this one's for you. As the currency wing of TopstepTrader above, TopstepFX funded accounts have the same eligibility requirements. First, you need to complete the Trading Combine and demonstrate you can apply TopTrader's software, implement a winning strategy and manage risk at the same time.
It's a necessary step to ensure that TopTrader's capital is safe in your hands. Once you start trading, you keep your first $5,000 in profits and take home 80% of your winnings thereafter. You can also withdraw your profits at any time, and there is no wire fee for withdrawals over $500
Now, what separates TopstepFX from TopstepTrader?
Well, TopstepFX funded account balances include buying power of up to $500,000.
And how is this done? In a word - leverage. Currency positions have leverage ratios as high as 100:1. Compared to TopstepTrader, the excess leverage with TopstepFX is extremely risky. However, as we mentioned, it's not your money.
With TopstepFX financing the positions, you can always trade risk-free without worrying about reprisal. Keep in mind, you do need to prove your skills first. If you're a profitable currency trader that lacks the capital to make major moves, a TopstepFX funded trader program may be just what you're looking for.
TopstepFX belongs to TopstepTrader, and their company name, address and phone are visible on the website: TopstepTrader, LLC 130 South Jefferson Suite 200 Chicago, Illinois 60661.
Limited Time Offer
- TopstepFX 20% Discount (Automatic discount on all account sizes - ignore the popups on their site, my automatic discount is higher)
For a top-to-bottom rundown of all the service has to offer, see our TopstepFX review.
Earn2Trade offers two different funded trading programs. The Gauntlet Program and the Gauntlet Mini Program.
The regular Gauntlet program is focused on trading the Futures market, where you manage a $25,000 virtual account for 60 days. During this time, you have to trade at least 30 calendar days and once per week. Your target is to reach the 10% profit target and never hit the 10% maximum drawdown.
Successful candidates receive a guaranteed funding offer from their partner Helios Trading Partners.
The new Gauntlet Mini is a program similar to TopstepTrader and OneUp Trader. You pay a monthly fee, and you have to trade according to the rules. Trading lessons, webinars, and access to Journalytix (TM) are included in the monthly price.
After completion, you receive an offer for a funded trading account. Both programs come with an 80%/20% profit split, where you keep the 80%.
The company behind is Earn2Trade LLC, with a registered office in 30 N Gould St. STE 4000, Sheridan, WY 82801.
Limited Time Offer
- Earn2Trade 50% Discount on the 75k account, 20% discount on any other account sizes.
You find all details and a platform walk-through in the comprehensive Earn2Trade review.
Let's get it straight, the list of the best funded trader programs already ends after the top 3. TopstepTrader, TopstepFX and Earn2Trade programs begin at about $100 per month. All of the following funded trading account providers offer educational packages along with a potential option to let you trade a funded account at some given time.
Those vendors ask you to pay prices from $2,000 all the way up over $15,000, and some of them do not reveal their company address.
If you are looking for a funded trader account with an excellent price-performance ratio, you may focus on the top 3:
- TopstepTrader (Futures Trading) TopstepTrader Free Trial or 20% off (Automatic discount at the checkout - ignore the popups on their site, my automatic discount is higher)
- TopstepFX (Forex Trading) TopstepFX 20% Discount (Automatic discount at the checkout - ignore the popups on their site, my automatic discount is higher)
- Earn2Trade (Futures Trading) Earn2Trade 20%-40% Discount (discout applied automatically).
4. OneUp Trader
Whether if you just starting out or a seasoned professional, OnUp Trader offers a platform where you can showcase your skills and make some money along the way.
There are two steps to get started:
- Get evaluated
- Get funded
The evaluation process begins with OneUp's Trading Evaluation program. The team puts you through a real-time day trading simulator where you can trade, track, measure and showcase your abilities.
Once you pass the evaluation, you get introduced to OneUp's funding partners. Once you start trading, the first $8,000 in profits are yours to keep, and after that, you take home 80% of all winnings.
What are some other benefits?
- Choose funding options from $25,000 up to $250,000
- Simplified funding goals with no hidden fees or fine print
- Trade from home, your favorite coffee shop or wherever you want
- Advanced analytics and data that help you become more successful
- Discuss, collaborate and share ideas with One-up Trader's community members
- Full transparency and disclosure regarding all services and requirements
Unfortunately, OneUp Trader does not disclose any information about the company and their address and contact data on the website. Also, there is no information available on what company will fund your account and how many traders got funded so far.
The OneUp Trader Review covers every detail about the funded accounts, but again, the missing information about the company details and ways to contact them should let you become more cautious.
5. Maverick Trading
As one of the top prop trading firms out there, Maverick Trading offers the opportunity to learn from its experts and - if you have what it takes - join the firm as a full-time trader.
Specializing in equities, options and forex, the team offers support, technology and training that help you every step of the way.
So how do you get funded?
- Submit your application
- Improve your skills using Maverick's trading simulators, tests and strategy courses
- Prove your skills by showing you can implement the trading plan, manage risk and produce profits
- Receive a funded account where you keep 70-80% of your profits and get paid every month.
Through its dedicated team, Maverick Trading promotes diversity, respect and transparency.
Before officially joining the firm, the team will outline all expectations as well as discuss the inherent risks of day trading.
Compared to the top three above, the pricing is significantly higher since they include more extensive education in their program costs. You need about $6,000 to get started and you need to put $5,000 of your own funds at risk once you get funded.
For more information on what all that means, see the Maverick Trading review.
6. Try Day Trading
Trydaytrading can cost you more than $15,000! When you first begin the Try Day Trading funded trader program, the team starts by outlining the two most important ways to reduce risk:
- They assign a professional trading coach that teaches you how to trade
- They provide access to Try Day Trading's proprietary leading indicator software
They also offer a 30-day trial. Anyway, the 30-day trial costs you more than $400. A bit hefty for a trial period! And more than $15,000 for their main service seems to be too expensive. Remember, for that money, you could use TopstepTrader's trading combine about 150 times!
There is no company name mentioned on their website, only the address in Utah. The google reviews seem to be good at first, but clicking on the details you notice that a curious pattern.
The detailed Try Day Trading review covers all of the bells and whistles.
Tradenet is not available to residents in the United States. With four pricing options, you can decide which Tradenet funded trader program is right for you. Led by Meir Barak, the site states that it has educated over 30,000 students worldwide on how to become better traders.
All of the funded account programs come with a 14-day money-back guarantee. That way, you can test out the service risk-free before deciding if you want to continue on. The costs are relatively high compared to the competitors mentioned in this best funded trader program comparison.
Please, also keep in mind that Tradenet does not offer those funded accounts themself. Instead, they connect you with investment firms once you purchased one of their educational packages.
I found various addresses; one is Limassol Cyprus, one in Israel and the United Kingdom.
If you're interested in learning more about Tradenet's funded trader programs as well as its education courses and live trading chat room, check out our Tradenet review.
Funded Trader Program Summary
There's no doubt funded trader programs have plenty of benefits. Many providers offer exceptional service and can be a great addition to your trading toolkit. Whether it's access to advanced software or the idea of using someone else's money to trade - funded accounts offer a risk-free way to compete against the best.
More importantly, the knowledge you obtain is invaluable. Considering their own money is at stake, providers will do everything in their power to ensure you succeed. They don't want you draining their bankroll, right?
So what this means for you is:
- greater guidance,
- mentorship and
- coaching compared to other services.
As well, when competing in the arena, you're surrounded by other advanced traders. This will help you increase your skill-set and have you climbing up the ladder in no time.
When deciding between the options above, you really can't go wrong with most of them.
TopstepTrader is the market leader and receives our highest rating, followed by TopstepFX, and Earn2Trade.
I am a bit undecided about Maverick Trading, Tradenet, Oneup Trader and Try Day Trading. The reason is that for some you have to pay between 2,000 and $16,000 to join their programs, some do not disclose any contact and company details.
Their prices are higher because they included extensive trading education courses in their funded trader programs. So it depends on you what you want to trade and what your focus is. If you are looking purely for a funded trader account, then TopstepTrader and Earn2Trade are the best choices.
If you are looking for excellent education, then I recommend you to read my comprehensive best trading courses blog post. And if you really consider joining the expensive funded trader programs, then make sure to read the detailed reviews first.
Now it is up to you.