The US is home to the world’s most traded currency and its second-biggest Forex market. Some US prop firms deploy a monthly subscription plan for live capital in unleveraged trading accounts, while others follow the traditional retail model. How do you know when you’re dealing with trustworthy prop firms in the US?
Read my in-depth review of American prop firms, learn the pros and cons, and see my quick guide to choosing a prop trading account in the US.
- DNA Funded, .
- Pip Traders Funding, .
- Rebels Funding, The best prop firm for fast withdrawals.
- Rocket21, A community of 50M+ traders with payouts of $4M+.
- Sabiotrade, daily trading signals on the Quadcode platform and full-year mentorship.
| | | | | |
Year Established | N/A | 2023 | 2023 | 2022 | 2023 |
Trading Platform(s) | Other+ | DX Trade | Proprietary platform, Trading View | DX Trade | Proprietary platform |
| Visit Website | Read Review | Visit Website | Read Review | Read Review |
DNA Funded
In SummaryI rank DNA Funded among the best Forex prop firms for its low evaluation fees. Traders pay $49 to $1,209 for portfolios between $5,000 and $200,000. Traders can choose among 16 challenges and one-phase, two-phase, and 10-day rapid evaluations. DNA Funded offers add-ons to increase the profit share up to 90% and decrease the payout frequency to seven days.
Prop traders will trade via the TradeLocker platform. The maximum daily drawdown is 5% for the one-step evaluation, 6% for the two-step alternative, and 4% for the 10-day challenge, with a maximum drawdown of 6%, 10%, and 5%, respectively.
Pros & Cons
- Maximum profit share of 90%
- Max allocation of funded accounts up to $600K
- Transparent trading conditions with TradeLocker login details
- A well-balanced asset selection of 800+ assets
- Limited operational history
Pip Traders Funding
In SummaryPros & Cons
- Funded traders receive a personal life coach service and resources to enhance their physical and mental well-being
- Trading via the platforms of competitive and trusted Australian broker Eightcap
- There is no time limit during the evaluation process
- Maximum profit share of 90%
- Limited operational history
Rebels Funding
In Summary The best prop firm for fast withdrawalsI rank Rebels Funding among the best prop firms, as it offers the most evaluation choices. They include a four-step evaluation with a low 5% profit target. Rebels Funding has no time limits on achieving profit targets, but it has a minimum trade requirement. Traders can also enroll in competitions and win funded accounts with a cash prize. Another unique feature is that Rebels Funding has a refund fee of up to 200%.
The daily drawdown ranges from 0% to 5%, with a maximum drawdown between 6% and 10%. Traders receive a profit split of up to 90%.
Pros & Cons
- No time limit on evaluations
- High profit share
- Wide range of program options
- Some platform lag issues reported
Rocket21
In Summary A community of 50M+ traders with payouts of $4M+Pros & Cons
- Innovative product offering including its Revive feature, Scaling plan and various add-on options
- There is no time limit during the evaluation process.
- A reasonable minimum evaluation fee of $59
- Maximum profit share up to 90%
- Limited operational history
Sabiotrade
In Summary daily trading signals on the Quadcode platform and full-year mentorshipTraders receive the Quadcode-powered trading platform, the one IQ Option offers, as a desktop platform, web-based alternative, and mobile app. It makes SabioTrade stand out since it does not offer algorithmic trading. It also differentiates itself from other retail prop trading firms by offering trading signals and a full-year mentorship. Therefore, I rank SabioTrade among the best prop firms in the USA.
SabioTrade offers five account plans from $20,000 to $650,000 for a one-time evaluation fee between $119 and $2,989. The maximum leverage is 1:30 with a 10% profit target, no minimum trading day requirements, and a maximum drawdown of 6%.
Pros & Cons
- Dashboard-integrated trading platform by QuadCode Markets
- Quick 1-step assessment
- Funded accounts $10,000-$200,000
- Profit share between 70% and 90%
- No weekend positions
Is Forex Prop Trading a Good Idea in the US?
Every trader must answer the viability of prop trading based on their preferences, skills, and strategy. While prop firms in the US provide capital, they also implement strict risk management rules, potential consistency rules, strategy restrictions, or uncompetitive trading rules.
Rules and Regulations of Prop Trading in the US
Retail prop firms remain duly registered companies, but they are unregulated. They partner with regulated brokers that provide the trading infrastructure. The rules of prop trading depend on the prop firm but consist of strict risk management rules and trading strategy restrictions. Therefore, each potential prop trader must carefully evaluate the prop firm and conclude if it fits their strategy.
Pros and Cons of Prop Trading in the US
Before paying for a funded account evaluation or monthly subscription, I advise traders to consider the pros and cons of prop trading in the US.
The Pros of Prop Trading
- Access to trading capital
- A generous profit split
- Well-established prop firm partnerships with trusted brokers
The Cons of Prop Trading
- Unregulated business
- Time zone is not ideal for trading the London trading session
- Tight risk management rules
- Some consistency rules make select trading strategies uncompetitive
- Not all prop firms allow algorithmic trading
- Performance pressure
- Inexperienced traders rush to prop firms offering educational content
How to Choose a Prop Trading Account in the US
Many prop firms have similar core trading conditions, but differences exist. I recommend traders evaluate the trading conditions and risk management rules of prop firms in the US diligently.
Prop traders should ensure their prop firms excel in the following aspects:
- Reputation - Prop firms are unregulated but duly registered businesses, and traders should avoid newly established ones.
- Trading Costs - Traders must compare monthly subscription fees versus one-time evaluation fees and associated trading conditions. Trading fees depend on the partner broker of prop firms.
- Trading Platform - Most prop firms in the US offer TradeLocker for algorithmic trading and DXtrade for manual traders.
- Profit Split - Prop traders should only consider a profit split of 80%+.
- Asset Selection - Most prop firms in the US allow Forex, cryptocurrencies, commodities, equities, and futures.
- Trading Strategies - Trading restrictions that impact the viability of strategies exist at almost all prop firms in the US.
- Support - Prop traders should ensure fast, responsive customer support, as trading with legitimate prop firms involves a contract and the receipt of payouts.
- Payouts - The best prop firms in the US allow cryptocurrency transactions, but bank wires remain the primary option.
What Can You Trade with a Prop Firm in the US?
The best prop firms in the US offer Forex, cryptocurrencies, commodities, metals, equities, ETFs, and futures, but the asset selection always depends on the prop firms, their partner broker, and their trading conditions.
Bottom Line
The best prop firms in the US can assist skilled traders in transitioning to full-time trading, but they can also limit the successful execution of trading strategies based on their trading rules and restrictions. While most prop firms present themselves as professional businesses, prop traders must evaluate and understand the trading rules and restrictions.
Prop traders should also consider that most retail prop firms rely on evaluation fees or monthly subscriptions for their income. Regulators label it shadow trading or a trading game as no live trading occurs. Therefore, US-resident prop traders must carefully evaluate prop firms before applying for a fee-based evaluation.
