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Discover the Best Prop Trading Firms in Canada | Top Picks 2024

Best Prop Trading Firms Canada

Discover the Best Prop Trading Firms in Canada | Top Picks 2024

When you are starting to trade, finding the right prop trading firm is important. This blog will help you understand what prop trading firms are and why they are a good choice for traders, especially in Canada. Prop firms are companies that let traders use their money to trade. In return, traders share a part of their profits with the firm. This is a good deal because traders do not need a lot of their own money to start trading.

In this blog, we will explore some of the best prop trading firms in Canada, such as E8 Markets and Blue Guardian. We will explain what makes each firm special and how they can help you become a better trader. Let’s find the right firm for you!

What to Look for in a Prop Trading Firm?

In this section, we will discuss the important things to consider when choosing a prop trading firm. Knowing these will help you make a good choice.

  • Capital Allocation: When you join a prop trading firm, they provide you with trading capital. The amount of money you get can vary between firms. For example, FTMO might offer a different amount than Fidelcrest. It’s important to check how much capital you can get and if it matches your trading needs.
  • Profit Sharing Models: Prop trading firms usually have different profit-sharing arrangements. This means you will share a percentage of your profits with the firm. Some firms may offer 70-30 splits, where you keep 70% and the firm gets 30%, while others might have different splits. Compare these models to see which one benefits you the most.
  • Training and Support: Good training and support can help you become a successful trader. Some firms offer training programs and mentorship to help you improve your skills. Make sure to choose a firm that provides the training and support you need.
  • Technology and Tools: Trading requires good technology and tools. Firms like E8 Markets and Apex Trader Funding offer advanced trading platforms and tools to help you trade effectively. Check if the firm provides a platform you are comfortable with and if they offer the tools you need.
  • Fee Structures: Understanding the fees is important. Some firms might charge a monthly subscription fee, while others might have different types of fees. Compare the fee structures of different firms to find one that fits your budget.
  • Reputation and Track Record: It’s important to choose a firm with a good reputation. Look for reviews and testimonials from other traders to see if the firm is reliable. Firms like Fidelcrest and E8 Markets have built solid reputations over time. Make sure to research and verify the reputation of the firm you are considering.

By considering these factors, you can choose the best prop trading firm that matches your needs and helps you succeed in trading.

17 Best Prop Trading Firms Canada

In this section, we will explore some of the best prop trading firms available for traders in Canada. We will look at their key features, what makes them special, and their pros and cons. The top trading firms in Canada are:

  1. E8 Markets
  2. Blue Guardian
  3. FTMO
  4. The5ers
  5. FTUK
  6. The Trading Pit
  7. Audacity Capital
  8. Earn2Trade
  9. Fidelcrest
  10. LeeLoo Trading
  11. Apex Trader Funding
  12. City Traders Imperium
  13. Lux Trading Firm
  14. Trade The Pool
  15. OneUp Trader
  16. Bulenox
  17. Finotive Funding

These firms offer various opportunities for traders in Canada, each with its own unique features, benefits, and requirements.

1. E8 Markets

E8 Markets presents traders with an 80% profit share and a maximum funding amount of $300,000. The minimum evaluation fee stands at $138 for a $25,000 account. Traders can participate in forex, crypto, indices, and commodities trading.

While the profit share and maximum funding are attractive, the minimum evaluation fee may pose a barrier for some traders.

Pros

  • High profit share, substantial maximum funding, diverse asset options.

Cons

  • Relatively high minimum evaluation fee.

2. Blue Guardian

Blue Guardian caters specifically to Canadian traders, offering enticing trading terms since its inception in 2017. It presents a maximum profit split of 85% across various assets, including forex, crypto, commodities, and indices.

Traders can access funding of up to $2 million through Blue Guardian’s scaling plan, with a minimum requirement of $10,000. Despite the lack of educational resources, the firm compensates with responsive customer support.

Pros

  • Maximum profit split of 85%, trading in diverse assets, access to substantial funding.

Cons

  • Limited educational content.

3. Apex Trader Funding

Apex Trader Funding is a prominent choice for futures trading. They offer an impressive 90% profit split, allowing traders to keep most of their earnings. The firm provides a maximum trading balance of $300,000, which is substantial for futures traders.

Their monthly fees start at $137, making it relatively affordable. Apex Trader Funding is highly rated with a 4.9-star rating, highlighting its user-friendly platform and excellent trader support. This firm is ideal for those who want to trade futures with a high profit margin and low initial costs.

Pros

  • High profit split, large maximum balance, affordable fees, excellent rating

Cons

  • Focuses only on futures trading

4. Fidelcrest

Fidelcrest offers traders a profit share of up to 90% alongside a maximum funding cap of $2 million. The minimum audition fee starts at EUR 99 for a $15,000 account. The firm supports trading across forex, indices, commodities, and stocks.

Despite the appealing profit share and substantial funding, the minimum audition fee might deter some traders.

Pros

  • High profit share, substantial maximum funding, diverse asset options.

Cons

  • Relatively high minimum audition fee.

5. City Traders Imperium

City Traders Imperium is known for its flexibility in forex trading. They offer an exceptional 100% profit split, which means traders can keep all their profits. The firm provides a maximum trading balance of $2,000,000, allowing for significant trading potential.

Their fees are quite low, starting at just $49, making it accessible for traders at all levels. With a 4.8-star rating, City Traders Imperium is praised for its flexible and generous profit-sharing model, making it a top choice for forex traders who want to maximize their earnings.

Pros

  • 100% profit split, high maximum balance, low fees, high rating

Cons

  • Primarily focused on forex trading

6. FTUK

FTUK is a well-regarded firm for forex trading with an impressive maximum trading balance of $5,760,000. They offer an 80% profit split, ensuring traders receive a significant portion of their profits. The firm’s fees start at $149, which, while higher than some competitors, is justified by their robust trading platform and comprehensive support.

With a 4.8-star rating, FTUK is known for its excellent support and resources for forex traders, making it an attractive option for those looking for high trading balances and reliable support.

Pros

  • Very high maximum balance, good profit split, strong support and platform

Cons

  • Higher starting fees

7. The Trading Pit

The Trading Pit offers the flexibility to trade both forex and futures. They provide a maximum trading balance of $5,000,000 and an 80% profit split. Their fees start at €99 per month, making them an affordable choice for many traders.

The firm is highly rated with a 4.8-star rating and is well-regarded for its versatility and trader-friendly terms, making it suitable for traders who want the option to trade multiple asset classes.

Pros

  • Trade both forex and futures, high maximum balance, affordable fees.

Cons

  • Profit split could be higher

8. Audacity Capital

Audacity Capital is a reputable firm specializing in forex trading. They offer a 75% profit split and a maximum trading balance of $480,000. Their fees start at £199, which is on the higher side but reflects their professional environment and extensive support for traders.

With a 4.7-star rating, Audacity Capital is praised for its strong reputation, good support, and trader development programs, making it a great option for those who value a professional trading environment.

Pros

  • Strong reputation, good support and training, decent maximum balance.

Cons

  • Higher fees, lower profit split compared to some competitors.

9. Earn2Trade

Earn2Trade focuses on futures trading and offers an 80% profit split. They provide a maximum trading balance of $400,000 with fees starting at $150 per month. Known for their comprehensive educational resources and support, Earn2Trade helps traders improve their skills and succeed.

Their 4.7-star rating reflects their commitment to trader education and support, making them an excellent choice for futures traders seeking strong educational backing.

Pros

  • Strong educational resources, good profit split, reasonable fees.

Cons

  • Limited to futures trading

10. LeeLoo Trading

LeeLoo Trading offers a competitive 90% profit split and has one of the lowest fees in the industry, starting at just $26 per month. They provide a maximum trading balance of $300,000, making it an attractive choice for futures traders looking for low-cost entry and high profit potential.

With a 4.6-star rating, LeeLoo Trading is noted for its affordability and high profit splits, ideal for traders who want to maximize their earnings with minimal fees.

Pros

  • Low fees, high profit split, good maximum balance.

Cons

  • Limited to futures trading

11. Lux Trading Firm

Lux Trading Firm offers an impressive maximum trading balance of $10,000,000, one of the highest available. They provide a 75% profit split and have fees starting at £149. This firm is noted for its high funding potential and strong support for experienced traders.

With a 4.1-star rating, Lux Trading Firm is ideal for those who need significant funding and have the experience to manage large accounts.

Pros

  • Very high maximum balance, good support for experienced traders.

Cons

  • Lower profit split, higher fees.

12. Trade The Pool

Trade The Pool focuses on stock trading and offers an 80% profit split. They provide a maximum trading balance of $260,000 and have fees starting at $97. This firm is ideal for stock traders looking for a supportive and flexible trading environment.

With a 4.1-star rating, Trade The Pool is recognized for its focus on stock trading and affordable fees, making it a good option for those looking to trade stocks with solid support.

Pros

  • Focus on stock trading, good profit split, affordable fees.

Cons

  • Lower maximum balance compared to some firms.

13. FTMO

FTMO is a globally renowned forex prop firm founded in Prague in 2017. It boasts funding over 60,000 traders worldwide with over $350 million. In Canada, FTMO provides access to a pool of up to $200,000 for risk-free trading.

Their unique feature includes funding challenges to assess trading skills, and traders can keep 80-90% of their profits. While FTMO offers extensive support and education, its evaluation process is rigorous, with strict trading rules and risk limits.

Pros

  • High levels of funding available, good trader support and education, strong brand reputation.

Cons

  • Challenging evaluation process, strict trading rules and risk limits.

14. The5%ers

The5%ers provides Canadian forex traders access to funded accounts, with funding available up to $100,000. Founded in 2022, the firm evaluates traders based on their skill and effective risk management, with only the top 5% of applicants passing the evaluation.

The5%ers offers evaluations, educational resources, and an 80% profit split. While it boasts strong funding potential and good risk management enforcement, its relatively new status and lower brand awareness may be seen as drawbacks.

Pros

  • Strong funding potential, good risk management enforcement.

Cons

  • Relatively new with lower brand awareness.

15. Trade The Pool

Trade The Pool specializes in stock trading, providing traders with funded accounts featuring favorable terms. Traders can enjoy a profit split of up to 80%, with fees starting as low as $97. The maximum balance available for trading stands at $260,000.

Despite its rating of 4.1, it’s essential to examine both its advantages and limitations before committing.

Pros

  • Opportunity to trade stocks with a profit split of up to 80%, reasonable fees, access to substantial capital.

Cons

  • Limited educational content, average rating.

16. Bulenox

Bulenox provides traders with a profit share of 90%, coupled with a maximum funding limit of $150,000. The minimum audition fee stands at $125 for a $10,000 account. Traders can engage in forex, commodities, indices, and crypto trading.

While the profit share is enticing, potential traders should weigh it against the relatively high minimum audition fee.

Pros

  • High profit share, maximum funding of $150,000, diverse asset options.

Cons

  • Relatively high minimum audition fee.

17. Finotive Funding

Finotive Funding boasts a profit share of up to 95% and offers traders access to a maximum funding of $3.2 million. The minimum audition fee is $50 for a $2,500 account. The firm facilitates trading in forex, indices, crypto, and commodities.

Despite the very high profit share and substantial maximum funding, potential traders should consider the minimum audition fee.

Pros

  • Very high profit share, substantial maximum funding, diverse asset options.

Cons

  • Relatively high minimum audition fee.

How to Choose the Right Prop Trading Firm for You?

  • Assess Your Trading Style and Goals: Before choosing a prop trading firm, it’s essential to evaluate your trading style, preferences, and goals. This includes considering factors such as the markets you want to trade in, your risk tolerance, and your desired level of involvement in trading. Aligning your trading style and goals with a firm’s offerings ensures a better fit and increases the likelihood of success.
  • Evaluate Firm Requirements and Expectations: Every prop trading firm has its own set of requirements and expectations for traders. It’s crucial to understand what these are and how they align with your capabilities and objectives. This involves examining factors such as minimum funding requirements, profit split arrangements, trading rules, and performance targets. By knowing what the firm expects from traders and what traders can expect in return, you can make an informed decision about whether it’s the right fit for you.
  • Leverage Trials and Demo Accounts: Many prop trading firms offer trials or demo accounts that allow prospective traders to experience their platform and trading environment before committing. Taking advantage of these opportunities is crucial as it provides firsthand experience of what it’s like to trade with the firm. It allows you to assess factors such as the platform’s usability, execution speed, and available tools. By testing out different firms, you can determine which one best suits your needs and preferences.
  • Seek Feedback and Reviews: Gathering feedback and reviews from other traders can provide valuable insights into the reputation and performance of a prop trading firm. This can be done through online trader communities, forums, and review sites. Pay attention to factors such as the firm’s track record, customer service quality, and overall satisfaction levels among traders. Seeking feedback from others who have traded with the firm can help you make a more informed decision and avoid potential pitfalls.

Overall, by carefully assessing your trading style and goals, evaluating firm requirements, leveraging trials and demo accounts, and seeking feedback and reviews, you can choose the right prop trading firm that aligns with your needs and maximizes your chances of success.

Conclusion

In conclusion, selecting the best prop trading firm in Canada requires a thoughtful and systematic approach. By assessing your trading style and goals, evaluating firm requirements, leveraging trials and demo accounts, and seeking feedback and reviews, you can make an informed decision that aligns with your needs and maximizes your chances of success. Each prop trading firm offers unique features and benefits, catering to a variety of traders with different preferences and objectives.

Whether you’re a novice trader or an experienced investor, taking the time to research and evaluate your options is essential in finding the right firm to support your trading journey in the dynamic world of prop trading.

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