The UK is the financial and Forex capital of the world, accounting for 40%+ of daily turnover. Despite the many retail prop firms and the inflow of new ones to cater to rising demand, not all prop firms are equally competitive. How can you ensure you trade with reputable prop firms in the UK? My comprehensive review of the retail prop trading scene in the UK covers the pros and the cons and will help you choose a prop trading account.
- Rebels Funding, The best prop firm for fast withdrawals.
- Funded Fast, .
- Funded Trading Plus, .
- Goat Funded Trader, The best prop firm for a monthly salary.
- FundedNext, 15% profit share of the profits during the evaluation period.
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Year Established | 2023 | 2024 | 2021 | 2022 | 2022 |
Trading Platform(s) | Proprietary platform, Trading View | Other+ | Other, MetaTrader 5, cTrader, DX Trade+ | Other, MetaTrader 5+ | MetaTrader 4, MetaTrader 5 |
| Visit Website | Visit Website | Visit Website | Visit Website | Visit Website |
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
Funded Fast
In SummaryI rank FundedFast among the best prop firms in the UK for account scaling. Successful traders benefit from a five-level scaling plan, which increases the balance by 25% at each level. Scaling requires traders to meet profit target requirements, minimum trading day requirements to promote steady progress, and stricter drawdown limits to enhance professional trading discipline. All accounts offer commission-free trading, but EAs and copy trading are not permitted. The profit target is 10%, except for a 5% profit target for the second phase of the two-phase challenge. Traders must comply with the 5% daily loss and 10% maximum drawdown requirements. Also, the best trading day cannot exceed 50% of total profits to qualify for payouts.
The minimum evaluation fee is $49 for the two-phase $5,000 account, with a maximum of $2,999 for the one-phase $400,000 account. Only two-phase accounts qualify for scaling and are notably cheaper than one-phase alternatives.
Pros & Cons
- Profit share 90%
- Free retry if rules are followed
- Low evaluation fees starting at $49
- Single-phase evaluation with no time limits
- Rewards are not always clear
Funded Trading Plus
In SummaryI rank FundedTrading Plus among the best UK prop firms for its PropIQ, a cutting-edge analytics platform that helps traders identify and reduce errors. Andrew Lockwood, a former UK trader on the London Stock Exchange, leads the educational initiative at FundedTrading Plus. Traders can choose from static and dynamic drawdown accounts, and have a total of 24 account configurations, one-phase, two-phase, and no-phase evaluation programs. The profit target is 10%, except for the second phase of the two-phase programs, which has a 5% profit target.
FundedTrading Plus has a minimum fee of $119 for a one-phase account and a maximum fee of $4,500 for a no-evaluation, $100,000 trading account. The scaling program maxes out at $2.5M. The initial profit split is 80%. After traders generate 20% of profits from their starting balance, a 90% profit split applies. Prop traders qualify for a 100% profit split after profitability reaches 30%.
Pros & Cons
- Clear and aggressive scaling plan up to $5M+
- Generous profit share up to 100%
- No time limits on challenges
- Multiple funding models to suit different traders
- Drawdown rules can be a bit complex
Goat Funded Trader
In Summary The best prop firm for a monthly salaryGoat Funded Trader is a unique prop trading firm offering qualifying traders a monthly salary between $300 and $500. It also ranks among the prop firms with the lowest evaluation fees, with a maximum profit share of 100%. Other benefits include instant funding, no hidden rules, and a reward guarantee. The profit targets range between 6% and 10% with daily drawdowns between 3% and 4%, and maximum drawdown between 6% and 8%. Therefore, I rank Goat Funded Trader among the best prop firms.
Traders can use MT5, TradeLocker, or Match Trader with commission-free trading on select assets.
Pros & Cons
- 100% in-house technology
- $9.1M+ paid out to traders
- 111K+ active accounts from 98K+ traders
- Processes 36K+ traders daily
- No equity trading
FundedNext
In Summary 15% profit share of the profits during the evaluation periodPros & Cons
- Six account options, a refundable evaluation fee, and a 10% reset discount
- MT4 and MT5 trading platforms with algorithmic trading enabled
- 15% profit share during the evaluation process
- 60% to 90% profit share with ultra-fast withdrawal of five hours
- Limited asset selection
Is Forex Prop Trading a Good Idea in the UK?
Every trader must decide if Forex prop trading is a good fit for their strategy and skill set. While prop firms offer capital, they also have strict risk management rules, strategy restrictions, or uncompetitive trading rules.
Pros and Cons of Prop Trading in the UK
Prop traders must consider the pros and cons of the best prop firms in the UK before paying for an evaluation.
The Pros of Prop Trading in the UK
- Access to trading capital
- A generous profit split
- Well-established prop firm partnerships with some of the best UK Forex brokers
- Excellent time zone
- Superb trading infrastructure
- Outstanding support network for professional traders
The Cons of Prop Trading in the UK
- Inexperienced traders rush to prop firms offering educational content
- Some consistency rules make select trading strategies uncompetitive
- Not all prop firms allow algorithmic trading
- Tight risk management rules
- Unregulated business
- Performance pressure
How to Choose a Prop Trading Account in the UK
Interested traders must evaluate the best prop firms in the UK to ensure they enjoy a competitive edge.
Prop traders should ensure their prop firms excel in the following aspects:
1. Reputation - I recommend avoiding newly established prop firms, as prop firms are unregulated but duly registered businesses.
2. Trading Costs - Prop traders either pay a monthly subscription fee at some US-based prop firms or a one-time evaluation fee at non-US prop firms. Trading fees depend on the broker of prop firms.
3. Trading Platform - Most prop firms in the UK offer MT4, MT5, TradeLocker, and DXtrade.
4. Profit Share - Prop traders should only consider a profit split of 80%+.
5. Asset Selection - The asset selection usually features Forex, cryptocurrencies, commodities, and equities.
6. Trading Strategies - Some prop firms have no restrictions, while others restrict or prefer select strategies.
7. Support - I only recommend prop firms with fast, responsive customer support, available 24/5, as trading with legitimate prop firms involves a contract and the receipt of payouts.
8. Payouts - The best prop firms in the UK allow cryptocurrency transactions, but bank wires remain the go-to option.
What Can You Trade with a Prop Firm in the UK?
The asset selection varies, but the best prop firms in the UK offer a combination of Forex, cryptocurrencies, commodities, metals, equities, ETFs, and futures.
What Platforms are Available in the UK for Prop Trading?
The best prop firms in the UK offer MT4, MT5, and TradeLocker for algorithmic trading and DXtrade for manual traders.
Bottom Line
Trading with the best prop firms in the UK can provide profitable traders the necessary capital to succeed as full-time traders. However, this is only the case if the trading conditions support the trader, as many prop firms rely on evaluation fees or monthly subscriptions for their income and not on trading.
