11 Best Forex Prop Firms for Successful Trading

Many traders dream of having enough capital to execute their strategies or simply take a break from their day job, but few realize that achieving their goals isn’t always a matter of saving up. If you’ve ever wondered why some traders seem to have unlimited capital to trade with while you’re stuck with the money in your trading account, you may want to look into the best-funded trading accounts, like those offered by forex prop firms. 

This guide explores how these accounts work and how you can use a funded trading program to trade forex, stock, crypto, and precious metals through trusted brokers.

AquaFunded's solution, the funded trading program, is a valuable tool for achieving objectives. With this program, you can access up to $2 million to trade your preferred asset class without risking your capital.
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What Is Forex Trading?

Forex trading involves existing currency pairs to identify profitable buy and sell opportunities. For instance, suppose you believe the euro will rise against the U.S. dollar. In that case, you can buy euros with dollars. If the euro's value increases on a relative basis (the EUR/USD rate), you can sell your euros back for more dollars than you initially spent, thus making a profit. 
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Hedging Currency Risks

In addition to speculative trading, forex trading is also used for hedging purposes. Individuals and businesses use forex trading to protect themselves from unfavorable currency movements. For example, a company doing business in another country might use forex trading to insure against potential losses caused by fluctuations in the exchange rate. 

By securing a favorable rate in advance through forex trades, a firm can reduce financial uncertainty and ensure more stable costs in its domestic currency. Hedging FX risks is an essential part of international business today. 
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High Liquidity and Leverage

Forex trading has high liquidity, meaning it's easy to buy and sell many currencies without significantly changing their value. In addition, traders can use leverage to amplify the power of their trades, controlling a significant position with a relatively small amount of money. However, leverage can also amplify losses, making forex trading a field that requires knowledge, strategy, and an awareness of the risks involved.
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Global Market Influences 

Forex trading is also quintessentially global, encompassing financial centers worldwide. This means that a variety of international events influences currency values. Economic indicators such as interest rates, inflation, geopolitical stability, and economic growth can significantly impact currency prices. For instance, if a country's central bank raises its interest rates, its currency might rise in value due to the higher returns on investments made in that currency. 

Similarly, political uncertainty or a poor economic growth outlook can depreciate a currency. These interlocking exchange relations—some currencies growing stronger, others not—mean forex trading reflects worldwide economic and political developments. 
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Related Reading

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• What Is a Prop Firm
• What Is Prop Trading
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• What is a Funded Trader
• How Do Funded Trading Accounts Work
  
• How to Get Funded for Trading
• Top Prop Firms
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• Are Funded Accounts Legit
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What Is A Forex Prop Firm?

Forex prop firms, short for proprietary trading firms, are companies that allow traders to use their capital to trade. Prop firms have their own money and look for skilled traders to trade it for them. Most prop firms are flexible with their trading rules, allowing traders to choose what markets and instruments they want to trade. 
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How Do Forex Prop Firms Work

Forex proprietary firms do not use demo accounts to evaluate a trader's skills. Instead, they hire traders to make profits for the company using their capital. The amount of capital given to a trader depends on their skills. When the trader makes profits, the prop firm takes a portion of it based on an agreement made with the trader. 
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Profit Split Agreements Vary Across Trading Firms

The agreement between a prop firm and traders usually varies from company to company. Some companies prefer to share a 50/50 profit split with their traders. Other companies may give you a profit split of 25-30% depending on so many things like your skills. 
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Most Prop Firms Have Desk Fees

However, most prop trading firms have a "desk fee." This fee covers utilities, terminals, trading software, and personnel wages. It is up to you to decide which prop trading firm to join.
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Are Forex Prop Firms Legit?

Forex prop firms are not regulated like traditional financial markets. This gives them the potential to be scams. This isn’t to say all forex prop firms are illegitimate. Plenty of reputable firms exist. However, the lack of regulation means traders must carefully conduct their due diligence to avoid scams. 
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Spotting a Scam: Red Flags to Watch Out For

Imagine you’re in a bustling market. Stalls are everywhere, and one vendor shouts, “Get rich quick! No risk, all reward!” That’s your first red flag. Here’s how to spot a scam in the prop trading world:
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Shady Reviews

A legitimate prop firm will have a solid online presence with genuine reviews on reputable websites like Trustpilot. If a firm has only a handful of reviews, or worse, a flood of suspiciously positive reviews posted around the same time, run. Those are likely fake. 
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Unprofessional Website

A prop firm’s website should scream professionalism. If the site looks like it was thrown together in a day, is riddled with spelling errors, or offers a poor user experience, you’ve got another red flag. 
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Nonexistent Social Media Presence

In today’s digital age, any legitimate business will be on platforms like YouTube or Instagram. If a prop firm is nowhere to be found on social media, that’s a bad sign. 
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Get-Rich-Quick Schemes

If it sounds too good to be true, it probably is. Be wary of firms promising massive funding, easy challenges, and 100% profit splits. These are classic tactics used by scammers to lure in unsuspecting traders. 
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Poor Customer Service

Try contacting their customer service. If you get crickets or a sketchy response, that’s your cue to bail. A legitimate firm will have a responsive and helpful customer support team. 
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Related Reading

• How to Get a Funded Trading Account
  
• How Do Prop Firms Make Money
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• Trading Companies in UAE
  
• No Minimum Trading Days Prop Firm
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• How to Pass Prop Firm Challenge
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11 Best Forex Prop Firms for Successful Trading

1. AquaFunded

AquaFunded is a trading firm based in Dubai that provides a funded trading program for forex traders. With AquaFunded, traders can receive massive capital allocations of up to $200,000 and profit splits of up to 95%. Traders only need to achieve an 8% profit target to receive their first payout, which can occur in as little as seven days; AquaFunded offers bi-weekly payouts after that. The firm is also known for its user-friendly evaluation process, which caters to traders of all skill levels. 
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2. FTMO

FTMO ranks highly with its transparency, profit-share, and trading conditions, placing it among the most competitive and honest prop trading firms. FTMO pays its prop traders up to 90%. FTMO was the Deloitte Technology Fast 50 Winner for the past four years, starting in 2019, and traders can use MT4, MT5, and cTrader.

While challenging, the trading conditions rank among the more generous ones, with a daily loss limit of up to 10% and a maximum drawdown of 20%. FTMO levies a minimum evaluation fee of €155. Traders benefit from balanced asset selection, and a free trial exists.
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Pros

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• Reasonable profit targets and generous maximum loss levels
• 80% to 90% profit share with a fast withdrawal process
• Customizable two-step evaluation period with free retrials where applicable
• MT4, MT5, and cTrader accounts with generous leverage
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Cons

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• There is no information about which broker or brokers FTMO uses
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3. Axi Select

Axi Select is a capital allocation program for traders that provides up to $1 million in funding and a profit share of up to 90%. Joining the program is free, and it has six stages. Traders will start in the seed stage, which requires a live account with a deposit of at least $500. After 30 days, traders can progress to the next stage if they meet the requirements. Axi Select differentiates itself from competitors through several key features. Firstly, the program is free to join, eliminating financial barriers for aspiring traders.

Secondly, the program utilizes live trading accounts, providing a realistic market environment for participants, unlike many prop firms that rely solely on demo accounts. Furthermore, the program's 5% profit target is lower than many competitors, potentially reducing pressure on participants and allowing them to focus on developing their skills. Finally, Axis Select boasts a reputation as one of the leading CFD brokers globally.
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Pros

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• The program is 100% free; no joining or membership fees exist.
• Other fees and minimum deposit apply.
• Unique capital allocation program with up to $1 million in funding.
• Up to a 90% profit share.
• Traders use live trading accounts instead of demo accounts.
• There are six stages, and the process is straightforward and transparent.
• Access to advanced trading tools, technical analysis, and live educational content.
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Cons

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• The Edge score formula determines funding eligibility and is unavailable to the public.
• A minimum deposit of USD 500 might represent a hurdle for some traders, although participating with a live trading account is a significant advantage.
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4. Fidelcrest

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Fidelcrest is one of the most transparent and trusted prop trading firms. It features a two-step verification process and offers micro prop trading accounts from $15,000 for a one-time evaluation fee of €99 and unlimited retrials if traders do not violate the rules. The maximum payouts of 80% to 90% places Fidelcrest at the top of the list, where only a few prop firms compete.

Traders benefit from the most generous trading conditions industry-wide, as Fidelcrest grants 60 days to achieve the 10% profit target, while the maximum drawdown is 20%. Algorithmic trading and manual copy trading are allowed.
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Pros

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• Generous maximum loss levels of up to 20%
• Competitive leverage and 175+ assets covering five sectors
• Up to 90% profit share and up to $2,000,000 in funded accounts per trader
• MT4 and MT5 trading accounts with algorithmic trading permitted
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Cons

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• No information about the management team
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5. The Forex Funder

The Forex Funder is among the most popular prop trading firms globally. The UK-based prop firm offers a 1-step and 2-step evaluation process, which allows traders to choose the most suitable one based on their experience and strategy. The Forex Funder uses MetaTrader 4 and 5, and while there is an evaluation fee, there is no recurring membership fee.

All traders start with the evaluation phase, during which they must meet the profit target while staying within the drawdown limit. A trader who completes the evaluation phase receives a Forex Funder account, and they retain up to 95% of the profits earned.
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Pros

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• Up to $2.5 million in funding.
• Up to 95% profit share, amongst the highest in the industry.
• Less restrictive than other programs, it allows EAs and news-based trading.
• The choice between a faster and slower evaluation phase.
• There is no time limit for passing the evaluation phase.
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Cons

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• Relatively expensive to join.
• The profit target in the initial phase could be challenging for new traders.
• The drawdown limit is based on equity, so it may not suit all traders.
• All trading is done on demo accounts, even when reaching the funding phase.
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6. E8 Funding

E8 Funding has an excellent trust score based on 1,000+ reviews but lacks operational history. Interested prop traders can start with a 14-day free trial, and the minimum evaluation fee is a reasonable $138 with a two-phase verification process. In addition to the standard 30-day period to achieve the profit target, E8 Funding offers an extended 60-day alternative.

Traders must pass the Letsdeel KYC process, which processes all E8 Funding withdrawals. Letsdeel accepts traders from all countries except 19. The 80% profit share places E8 Funding in the upper echelon, and the maximum leverage of 1:100 enables competitive trading conditions.
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Pros

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• Competitive leverage and commission-based spreads from 0.3 pips
• Four funded accounts in three base currencies
• 80% profit share payable after eight days, followed by bi-weekly payouts
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Cons

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• No details about the management team
• No information about which broker or brokers E8 Funding uses
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7. The 5%ers

Established in 2016, The 5%ers is an Israeli-based prop trading firm. It offers three different funding journeys: Hyper Growth (a one-step program), High Stakes (a two-step program), and Bootcamp (a low-cost program). The company utilizes the MetaTrader 5 platform and allows all types of trading, including algo trading, news-based trading, and holding positions overnight or over the weekend.

The 5 %ers charge a one-time fee with no recurring costs. Funding can grow to $4 million with a profit share of 100%. The profit target is 10% with a maximum allowed drawdown of 6% for Hyper Growth, while the High Stakes program allows a maximum loss of 10% with a profit target of 8% in Stage 1.
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Pros

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• It is funding up to $4 million.
• Profit share of up to 100%.
• According to the company, some of the programs offer a live trading account but for a higher fee.
• Flexibility and few restrictions on trading style.
• Transparent pricing structure and the choice of more affordable programs (Bootcamp).
• Educational materials are available.
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Cons

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• The structure of the different programs could be complex for beginners.
• The high-stakes program offers higher leverage (100:1) and has a steep joining fee.
• Bootcamp is based on demo trading.
• Some traders may be limited by the low leverage in some of the programs (10:1 for Bootcamp and 30:1 for Hyper Growth).
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8. BluFx

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Unlike most prop trading firms, BluFX does not have an evaluation period or trading challenges but relies on a monthly subscription-based model. Traders only get the cTrader trading platform with a maximum Forex leverage of 1:30 and no minimum trading days, while BluFX prohibits algorithmic and copy trading. All accounts are US Dollar accounts, but BluFX pays profit share withdrawals in British Pounds.

The 50% profit share is the lowest in the prop trading industry. Once traders account for the monthly subscriptions, it can drop into single digits. Prop traders must weigh it against their strategy and expected profit potential.
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Pros

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• Swap-free trading accounts
• No minimum trading days
• No demo trading.
• No evaluation or verification phase
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Cons

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• Scores of negative public reviews
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9. Funded Next

Founded in 2021, FundedNext is a prop trading firm based in the UAE. The company offers three challenges, Stellar, Express, and Evaluation, with different targets and structures.
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Pros

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• Up to $4 million in funding.
• Up to a 90% profit share.
• Profit sharing is already available during the challenge phase, which is unique in the industry.
• There are no time limits on challenges.
• Balance-based drawdown calculation.
• The company promises a 24-hour payout guarantee.
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Cons

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• The structure of the challenges might appear complicated to beginners, although the firm also offers a challenge with simplified rules.
• Short history of operating.
• All trading is done on demo accounts, even when reaching the funding phase.
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10. Funded Traders

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Prop traders get a one-step evaluation process with a 10% profit target, which is a tremendous challenge to achieve in 30 days, but it remains the industry standard. The 4% daily loss limit and 5% maximum drawdown make Funded Traders Global one of the strictest firms based on conditions. It presents 300+ assets, placing it at the top among asset selections.

The minimum evaluation fee is $100 for a $10,000 MT4 prop trading account, but traders should consider the upgraded option for $145. The maximum evaluation fee is an industry-high $5,430, and traders can pay the fee via cryptocurrencies.
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Pros

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• Six funded account options with discounts on the evaluation fee
• 75% profit-share
• One-step evaluation period
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Cons

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• No published information about profit withdrawals
• Strict drawdown rules of only 5%
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11. Funded Trading Plus

Funded Trading Plus is a UK-based prop trading firm. It evolved from Trade Rooms Plus, founded in 2013, and catered to retail traders looking for a live trade room. Funded Trading Plus offers a variety of trader programs, making it suitable for beginners, intermediate and advanced traders. The Experienced Trader Program has one assessment phase with a 10% profit target and a 6% maximum loss limit. After successfully passing this stage, you can advance to the "FT+ Trader" stage with a profit split of 80/20. 

The program's cost varies according to the funding size,  costing as little as $119 for $12,500 in funding and as much as $949 for $200,000 in funding. The Advanced Trader Program consists of two assessment phases, after which you can progress to the "FT+ Trader" stage. Phase 1 has a 10% profit target and allows a maximum loss of 10%, while phase 2 has a 5% profit target while still allowing a maximum loss of 10%.

For traders looking to get instant funding without an evaluation phase, FTP offers the Master Trader Program, which costs between $225 and $4,500, depending on the size of funding received.
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Pros

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• Variety of trading programs catering to different needs.
• A large number of trading instruments are eligible.
• There are no restrictions on the minimum and maximum number of trading days.
• Weekly payouts.
• Profit sharing ranging from 80% to 100%.
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Cons

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• No holding of positions over the weekend in the Advanced Trader Program.
• Relatively high-profit targets considering the available leverage.
• All trading is done on demo accounts.
• Maximum leverage of 30:1, which could be a limitation for some traders.
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Benefits of Using Forex Prop Firms

Unlocking the Power of Capital

Access to Capital

One of the most significant advantages of joining a proprietary trading firm is access to the company's capital. Traders can leverage the firm's funds, which allows them to take more significant trading positions than they could afford with their capital. This could lead to higher profits.
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Risk? What Risk?

Reduced Risk

The risk is mitigated since traders use the firm's capital, not their own. This can give traders more confidence to take calculated risks and explore different trading strategies.
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Professional Development Every Trader Needs

Professional Development

Proprietary trading firms often provide extensive training programs for their traders. This can include educational resources, mentorship, and access to advanced trading tools and technologies. Traders can benefit from the collective knowledge and experience of the firm's team.
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Cut Your Costs With Prop Firms

Cost Efficiency

Proprietary trading firms typically charge lower commissions and fees than retail brokerage platforms. This cost efficiency can positively impact a trader's overall profitability.
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Technology and Infrastructure

Technology and Infrastructure

Prop firms invest heavily in technology infrastructure, including high-speed internet connections, advanced trading platforms, and data analytics tools. Traders can use these resources to execute trades more efficiently and effectively.
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Performance-Based Compensation

Performance-Based Compensation

Many prop trading firms offer performance-based compensation structures. This means traders are rewarded based on their trading performance, often through profit-sharing agreements. This can incentivize traders to strive for consistent profitability.
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Diversify Your Portfolio With a Prop Firm

Diversification

Prop firms usually support trading across multiple asset classes and markets. This enables traders to diversify their trading strategies and reduce reliance on a single market or instrument. 
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Join Our Funded Trading Program Today - Trade with our Capital and Keep 90% of the Profit.

AquaFunded is a Dubai-based funded trading program that allows traders to access large capital accounts and earn up to 95% profit splits. The company provides a unique funding model with easy-to-achieve 8% profit targets and fast bi-weekly payouts, with an option for first payout in just seven days. 

AquaFunded caters to traders of all experience levels, from beginners to those with a few years of experience, who want to trade with reduced risk using the firm’s capital instead of their own. With its competitive features and UAE-based operations, AquaFunded aims to stand out in the crowded prop trading market and provide a trustworthy platform for traders looking to scale their profits. 

Get started with AquaFunded’s funded trading program today!
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Related Reading

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• TFF Prop Firm
• FTMO Alternative
• FundedNext Prop Firm
• SurgeTrader Competition
• E8 Prop Firm
• Fastest Payout Prop Fir
• Best Prop Firm Challenge
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