Forex trading remains a popular endeavor in the global financial markets, offering unparalleled liquidity and 24-hour market access. Within the Forex industry, proprietary trading firms or prop firms stand out by trading their capital. This is different from traditional brokers who execute trades on behalf of their clients. In Australia’s competitive market, the choice of a prop firm is critical, affecting the access to capital, technology, and potential for profits. Prop firms in Australia, offer funding accounts where traders can show their skills and then start making profits with the prop firm keeping a small portion of these profits in return. Let’s explore the essence of prop trading in Australia and list the top firms in Australia. We will also guide traders on how to start and become profitable in the prop trading profession.
Understanding Forex Proprietary Trading
Forex proprietary trading or prop trading, in short, involves firms with funding account models. These firms allow traders who have shown their trading performance through competitions to access large funded accounts and start trading on various Forex instruments. Prop trading allows traders to access much larger capital, presenting unique possibilities for amplified profit potential. However, these firms have strict rules to protect their capital and not all trading strategies or methods are allowed. Unlike traditional brokerages who rely on client fees, prop firms offer a unique environment for traders with possibilities for professional growth and account scaling. The key benefits include access to significant trading capital, cutting-edge platforms, and comprehensive educational resources. All these features are often provided by reputable brokers as well, but prop firms also offer large trading accounts. Prop firms typically charge small fees for offering trading challenges. Because of the presence of such fees, many scams, and frauds collect only fees from traders and do not provide real market access through pattern brokers. Let’s list some top criteria for selecting a reliable prop firm.
Criteria for Selecting a Top Forex Prop Trading Firm
Selecting a top prop firm in Australia requires a thorough understanding and evaluation of several critical factors. Capital allocation and leverage options are fundamental for defining the risks and opportunities for profits. The technology and platforms offered by the firm directly affect trading efficiency and success. Training, supportive community, and active engagement help in honing trading strategies and skills. Another important factor is the profit-sharing model of the firm and the fee structure. Profit-sharing and fees should align with the trader’s needs and expectations. Reliable prop firms typically have competitive fees and offer profit-sharing levels of 80% and above. Here is the list of top criteria in bullet points:
- Capital allocation and leverage options
- Technology and trading platforms offered
- Training, support, and community engagement
- Profit-sharing models and fee structures
- Regulatory compliance and firm reputation
Let’s now switch to top prop firms in Australia and quickly overview some of the best firms.
Top Forex Proprietary Trading Firms in Australia
E8 Funding
E8 Funding is a Forex prop firm founded in 2021. It is based in the United States, Dallas, and offers a three-phase program to allow traders to get up to 300,000 USD in funding accounts.
Here are some important specs of the E8 Funding prop firm:
- Established in — 2021
- Headquarters — Dallas, Texas, United States
- Minimum audition fee — 138 USD
- Minimum funded amount — 25,000 USD
- Maximum funded amount — 300,000 USD
- Allowed daily loss — 5% at all phases
- Profit target — 8% phase 1, 5% phase 2
- Maximum trailing drawdown — 8%
- Profit sharing (payout) — 80%
Safety, funding options, and rules
The funding ranges from 25k to 300k and the maximum allowed drawdown limit is set to 8%. E8 Funding has very trader-friendly rules, without any limits on trading strategies and methods. The maximum drawdown starts from 8% and can go up to 14% which is more than enough for any type of strategy. The maximum drawdown limit increases after the trader makes successful withdrawals of their profits. The daily loss limit is 5% and almost the same for all phases.
Assets, platforms, and fees
The firm allows traders to speculate on diverse asset classes including Forex, shares, crypto, indices, energies, and metals. The allowed leverage ranges differ on the asset traded, for Forex major pairs it is 1:50, for commodities also 1:50, and cryptos just 1:5.
E8 Funding offers MT4 and MT5 advanced trading platforms and has a payout of 80%, allowing traders to withdraw the majority of their profits. The refundable fee starts from 228 USD and is fully refined when phase 2 of the challenge has been passed. EAs or trading robots are restricted.
Education and support
E8 Funding offers educational resources including trading courses and engaging communities. Support is provided via live chat and email channels.
Audacity Capital
Established in 2012 Audacity Capital is an experienced Forex prop firm. It operates in 140 countries worldwide and emphasizes transparency, respect, and fairness.
Audacity Capital Specs List:
- Established in — 2012
- Headquarters — London, UK
- Minimum audition fee — 129 USD
- Minimum funded amount — 10,000 USD
- Maximum funded amount — 480,000 USD
- Allowed daily loss — 10%
- Profit target — 10%
- Maximum trailing drawdown — 10%
- Profit sharing (payout) — 50-85%
Safety, funding options, rules, profit sharing
The firm gets points in security for binge experience and allows traders to trade on its partner brokers’ platforms. The funding options range from 15k to 480k USD accounts with diverse trading challenge accounts, funded trader program, ability challenge, Flex trader program, and Pro funding program. Different accounts may have different starting funding, but the maximum amount is capped at 480k for all of them.
The maximum drawdown is 20% which is very flexible for employing almost any trading strategy. The daily drawdown limit is also very high at 10% which is also super flexible and should allow traders to implement even the most aggressive trading styles.
Payouts start from 50% and can reach up to 85% depending on the challenge account type.
Assets, platforms, fees
Audacity allows traders to access diverse markets including Forex pairs, indices, and commodities. The lowest fee starts from 125 USD and ranges up depending on the funding amount selected. However, to get an MT4 account with 15,000 USD funding, the fee is 405 USD, which is expensive. All other options are affordable. Audacity Capital offers access to MT4 and MT5 advanced trading platforms, both for desktop and mobile. There are also tutorials to familiarize yourself with these platforms.
Education and support
The firm has a paid course that will cost trailers 650 GBP and includes a 5-day in-house trading course in London. Considering that London is a financial hub for Forex, this is actually a very attractive opportunity for beginners. The firm also has a hidden talent course that has been around for at least 10 years, which only indicates its robustness. The firm has effectively employed two business models so far, one is professional trading courses and the other is funded accounts for best traders.
Customer support is provided via several channels including live chat, email support, phone support, and offices in London for local traders.
Blue Guardian
The firm was launched in 2019 as a signal provider and was rebranded to include funded accounts as well. Blue Guardian has a wide range of funding and low fees.
Here is the full specs list for Blue Guardian Forex prop firm:
- Established in — 2019
- Headquarters — Solihull, West Midlands, England
- Minimum audition fee — 87 USD
- Minimum funded amount — 10,000 USD
- Maximum funded amount — 200,000 USD
- Allowed daily loss — 4%
- Profit target — 8%, (4% on 2nd phase)
- Maximum trailing drawdown — 8%
- Profit sharing (payout) — 85%
Safety, funding options, rules, profit sharing
Blue Guardian is based in the UK, making it a reliable prop firm with a high Trustpilot score of 4.8. Blue Guardian offers funded accounts from 10,000 to 200,000 USD with minimum audition fees for challenges starting at 87 USD. This fee is among the lowest within the prop trading industry. The firm offers three types of funded accounts: Unlimited Guardian, Elite Guardian, and Rapid Guardian, each with varying profit targets and audition fees.
The firm has clear rules without hidden conditions and offers up to 85% profit sharing.
Assets, platforms, fees
Prop traders at Blue Guardian have access to a range of markets such as Forex, FX exotics, Gold & commodities, and cryptos. The leverage is capped at 1:100. The trading platform is MetaTrader 4 which is offered by the regulated broker partner of Blue Guardian, EightCap. The broker is overseen by the ASIC of Australia.
The lowest spreads start from 0.1 pips on FX majors and trading commission is 6 USD round turn. The minimum audition fee starts from 87 USD and depending on the funded option increases moderately.
Education and support
Blue Guardian has limited educational resources but offers excellent customer support via live chat. Email, and phone. There is also a FAQs section.
Instant Funding
Instant Funding is a relatively young company that was established in 2023, but it has already patterned with regulated broker ThinkMarkets. It offers several funding options with competitive scaling and fees.
Instant Funding Main Specs:
- Established in — 2023
- Headquarters — London, UK
- Minimum audition fee — 79 USD
- Minimum funded amount — 1,250
- Maximum funded amount — 200,000 (Up to 1.25 million USD with scaling plan)
- Allowed daily loss — unlimited
- Profit target — 0-3-5%
- Maximum trailing drawdown — 10%
- Profit sharing (payout) — 70-80% (up to 90% with scaling)
Safety, funding options, rules, profit sharing
The broker is young but has a regulated broker partner, adding to its legitimacy. Trustpilot reviews are also positive. Funding options range from 1,250 to 200,000 USD with a scaling plan of up to 1.25 million USD. There are three funding challenges including 1-phase, 2-phase, and Instant Funding. The instant funding account requires no evaluation phase. There are no daily loss limits and no hidden rules. All rules are simple and clearly given on the website. Traders can get up to 90% of profits through a scaling plan, and payouts are weekly after the initial withdrawal.
Assets, platforms, fees
Offers Forex, indices, commodities, and cryptos but lacks stocks. Offers MT4 and MT5 advanced trading platforms. Fees start from 79 USD for a 1250 USD account.
Education and support
The firm provides an FAQ section and also educational videos and tutorials. These materials are mainly focused on trading products rather than actual education. Offers some tools including dashboards and economic calendars. Both the website and support are multilingual, and support options include live chat and email channels. The firm is also active on social media.
FTUK
FTUK is a Forex prop firm based in Dubai that was established in 2021. The firm offers funding options ranging from 14k to 5m USD with an 80% profit share and 1:100 leverage on FX trading.
FTUK full specs list:
- Established in — 2021
- Headquarters — Dubai, United Arab Emirates
- Minimum audition fee — 149 USD
- Minimum funded amount — 14,000 USD
- Maximum funded amount — 90,000 USD (Up to 5M USD with scaling plan)
- Allowed daily loss — None
- Profit target — 10%
- Maximum trailing drawdown — 8%
- Profit sharing (payout) — 80%
Safety, funding options, rules, profit sharing
FTUK has 3 years of experience in the industry, is based in Dubai, and has a Trustpilot score of 4.2 making it a legit prop firm. It also partners with a regulated broker EightCap providing a safe trading environment for prop traders. FTUK offers evaluation and instant funding programs with funding from 14k to 90k USD, scalable up to 5 million USD. The profit target is 10% and when achieved the trader can scale up their account. The maximum leverage is 1:100 which is super flexible for FX trading. There is no daily loss limit and a stop loss of 1.5% is required. FTUK allows traders to withdraw 80% of their profits across all accounts.
Assets, platforms, fees
Offers FX pairs, cryptos, indices, and metals with leverage varying by level, starting at 1:10 for lower levels and up to 1:100 for the highest. There are no stocks offered as of now. FTUK’s partner is a regulated broker, EightCap offering advanced platforms of MT4 and MT5 with advanced trading tools and plugins. Fees start from 149 USD for the lowest account. The minimum fee for an instant funding program is 200 USD. Spreads are low from 0.1 pips and forex commission is 6 USD round turn at EightCap.
Education and support
The firm lacks educational resources. Offers live chat and email support channels and both the website and support are multilingual.
Lark Funding
Lark Funding is a Forex proprietary firm established in 2022. It offers prop trading without hidden rules and has low-profit targets of 3%.
Lark Funding full spec list:
- Established in — 2022
- Headquarters — Montréal, Quebec province, Canada
- Minimum audition fee — 50 USD
- Minimum funded amount — 5,000 USD
- Maximum funded amount — 1,000,000 USD
- Allowed daily loss — 0-5%
- Profit target — 3-10%
- Maximum trailing drawdown — 10%
- Profit sharing (payout) — 75-80% (up to 90% through paid upgrades)
Safety, funding options, rules, profit sharing
Lark Funding is a relatively young prop firm but is based in Canada and is partnered with regulated broker EightCap offering a safe trading environment. The funding options range from 5,000 USD to 1 million across three types of funding challenge accounts. There is no scaling plan, as the basic upper ceiling is set at 1 million USD.
Lark Funding features simple and transparent rules without hidden conditions, with profit targets ranging from 3 to 10% depending on the funding option. The firm allows EAs (Expert Advisors) for automated trading and news trading as well. Profit sharing is between 75-80% but can be scaled up to 90% through paid upgrades. Withdrawals can be made after 14 days of receiving a simulated funded account.
Assets, platforms, and fees
Provide access to Forex, indices, cryptos, and commodities. Offers MT4 and MT5 advanced trading platforms through its partner, EightCap. All devices are supported for trading, including Desktop and mobile. The firm only charges one-time fees for programs and there are no free trials or free repeats, but offers discounts for resets.
Education and support
Lark Funding lacks educational resources. The firm offers live chat and email support options. There is no phone support, and both the website and support are available only in the English language.
Ment Funding
Ment Funding is a prop firm established in 2021. It offers a wide range of funding options from 25k to 2 million USD. The firm has instant funding accounts as well as offering large trading accounts without the need to prove your skills.
Ment Funding full specs list:
- Established in — 2021
- Headquarters — United States
- Minimum audition fee — 250 USD
- Minimum funded amount — 25,000 USD
- Maximum funded amount — 2,000,000 USD
- Allowed daily loss — 5%
- Profit target — 10%
- Maximum trailing drawdown — 6%
- Profit sharing (payout) — 75% (up to 90% with paid upgrade)
Safety, funding options, rules, profit sharing
While Ment Funding was launched in 2021 makes it a new company, it was launched in the USA which adds to its legitimacy. It offers trading through its partner broker EightCap which is a regulated Forex and CFDs broker.
Ment Funding offers funding options from 25k to 2 million dollars with a simple one-step process for achieving profit targets. Allows all types and styles of trading strategies with a profit target of 10%. There are no minimum days, daily loss is 5%, and maximum drawdown is set at 6%.
Profit sharing at Ment Funding starts from 75% with an option to upgrade to 90% for a fee.
Assets, platforms, fees
Ment Funding offers a broad range of trading markets including Forex, commodities, indices, stocks, and cryptos. Trading platforms include advanced MT4 and MT5 provided by EightCap. These platforms are available for both desktop and mobile.
There are one-time fees from 250 USD for 25k accounts to 15,000 USD for 2 million USD accounts.
Education and support
Ment Funding provides an excellent variety of educational resources including articles, videos, webinars, and a dedicated YouTube channel along with performance monitoring tools.
Support includes a Discord channel for contacting the firm personnel.
Fidelcrest
Fidelcrest is a reputable prop firm that was established in 2018. The firm offers a variety of funding options divided into two risk categories: normal and aggressive.
Fidelcrest full specs list:
- Established in — 2018
- Headquarters — Nicosia, Cyprus
- Minimum audition fee — EUR 99
- Minimum funded amount — 15,000 USD
- Maximum funded amount — 1 million USD (scaling to 2 million)
- Allowed daily loss — 5% (Normal) 10% (Aggressive)
- Profit target — 5-20% (Pro, Micro, Normal/Aggressive)
- Maximum trailing drawdown — 10-20%
- Profit sharing (payout) — 10-20%
Safety, funding options, rules, profit sharing
Registered in Cyprus and partnered with FCA-regulated brokers, Fidelcrest has a decent track record since its founding in 2018. Fidelcrest provides a variety of accounts ranging from micro to pro, with funding from 15k to 1 million, scalable to 2 million USD. Accounts are tailored to aggressive and normal risk levels. Fidelcrest allows a maximum leverage of 1:100. EAs are restricted.
Assets, platforms, fees
Offers a wide range of assets including Forex, CFDs, crypto, futures, and more, but lacks real stocks. Offers MT4, MT5, and cTrader supported by several regulated brokers. Charges one-time fees are charged for subscription-based accounts, offering a cost-effective model compared to monthly fees.
Education and support
Provides educational materials and a partnership with NeuroStreet Trading Academy, focusing on training for Forex, futures, and CFDs.
Fidelcrest support includes hotline, email, and online chat support. Both the website and support are only provided in the English language.
Forex Prop Firm
Forex Prop Firm offers funded accounts ranging from 10k to 200k USD with a scaling plan of up to 10 million dollars.
Forex Prop Firm specs list:
- Established in — Unknown (at least from 2015)
- Headquarters — Quebec, Canada
- Minimum audition fee — 189 USD
- Minimum funded amount — 10,000 USD
- Maximum funded amount — 200,000 USD (10,000,000 USD with scaling plan)
- Allowed daily loss — 5%
- Profit target — 10%
- Maximum trailing drawdown — 10%
- Profit sharing (payout) — Up to 90% (10% during the evaluation phase)
Safety, funding options, rules, profit sharing
Forex Prop Firm has positive reviews on Trustpilot and is partnered with regulated broker EightCap. It offers diverse funding options ranging from 10k to 200k USD with a scaling plan of up to 10 million USD. The firm presents a mix of challenge phases and instant funding with varying profit targets, drawdown, and leverage options. These accounts are targeted at different trader needs, which is flexible. Profit share starts from 90% which is excellent, with 10% being offered during the evaluation phase. If a trader is successful during the evaluation phases, they still get a profit, which is very attractive.
Assets, platforms, fees
Forex Prop Firm assets coverage is broad and includes Forex, crypto, indices, commodities, and stocks with competitive leverage settings. As a pattern of regulated broker EightCap, the firm allows access to MT4 and MT5 advanced trading platforms for both desktop and mobile. An Attractive fee structure with one-time audition fees starting at 189 USD and no charges on withdrawals make Forex Prop Firm very competitive in the industry.
Education and support
The firm offers very few educational materials but has a blog for traders. Support is provided via live chat and email channels and is multilingual together with the website.
FundedNext
FundedNext is a Forex prop trading firm founded in 2022, that offers funding accounts and monthly challenges. The firm offers a wide range of funding options and advanced trading platforms MT4 and MT5.
The full specs of FundedNext prop firm:
- Established in — 2022
- Headquarters — Ajman, United Arab Emirates
- Minimum audition fee — 49 USD
- Minimum funded amount — 6,000 USD
- Maximum funded amount — 200,000 USD
- Allowed daily loss — 5%
- Profit target — 10-25%
- Maximum trailing drawdown — 10%
- Profit sharing (payout) — 90%
Safety, funding options, rules, profit sharing
The firm is young and lacks online reviews but offers attractive conditions. The funding options range from 6,000 USD to 200k with a scaling plan of up to 10 million USD. The funding options are flexible and there are several challenges to appealing to different kinds of trading styles.
Rules at FundedNext are diverse across different accounts, including evaluation and express accounts. The profit targets vary between 10 and 25%, while daily and maximum drawdown limits are consistent across all accounts.
With a 90% profit share, FundedNext offers traders an attractive prop trading environment.
Assets, platforms, fees
FundedNext offers access to a wide range of trading instruments, including forex, cryptos, indices, and commodities. However, there are no stocks on the assets list. Advanced trading platforms include MT4 and MT5 with a wide range of features. Competitive fee structure with low one-time fees and no charges on withdrawals are strong sides of FundedNext Forex prop firm. All fees are affordable and transparent.
Education and support
FundedNext falls short in offering educational resources but offers a FAQ section. Support options include popular methods like live chat, email, and social media. Both the website and support are multilingual.
FundYourFX
FundYourFX is based in Indonesia and offers large funded accounts with attractive conditions. It was established in 2021 and offers funding accounts from 6k to 2 million USD.
FundYourFX full specs list:
- Established in — 2021
- Headquarters — Indonesia
- Minimum audition fee — 197 USD
- Minimum funded amount — 6,000 USD
- Maximum funded amount — 2,000,000 USD
- Allowed daily loss — None
- Profit target — 10%
- Maximum trailing drawdown — 5% (up to 10% on higher levels)
- Profit sharing (payout) — 50% (up to 90%)
Safety, funding options, rules, profit sharing
The firm is partnered with regulated Forex and CFDs brokers and has high scores on Trustpilot. It offers a wide range of funding options from 6k to 2 million USD across Starter, Standard, and professional plans. FundYourFX rules vary across different account plans, including diverse maximum drawdown and profit share levels. The profit share starts at 50% for low levels and rises to 90% for higher levels of funded trading. The structure is designed to reward progression and consistency.
Assets, platforms, fees
FundYourFX offers a comprehensive range of assets including Forex pairs, cryptos, commodities, and indices. There are no stocks offered. The advanced trading platforms are MT4 and MT5 provided through pattern broker EightCap. The minimum fee for the smallest funded account of 6,000 USD is 197 USD, above industry standards.
Education and support
The firm lacks educational materials offering only a blog. FundYourFX support includes only the live chat option which is multilingual as well as the firm’s website.
How to Get Started with a Prop Trading Firm
For traders seeking to start trading and become profitable prop traders with large funded account balances at their disposal, there are several prerequisites that you need to understand. While an educational background in finance fields or related might provide some edge, trading is completely different and can be taught for traders who are totally new to finance. It is important to learn how to trade, then switch to demo and develop a trading strategy, backtest it thoroughly, and only then start seeking a prop firm. Trading simulations can also be helpful to prepare for prop trading. After you have the strategy and enough trading experience, you can sign up for any of the challenges from reputable prop firms in our list and start the evaluation process. The initial phase is crucial to demonstrate your capabilities as a trader and to align with the firm’s rules.
Here are the basic steps for successful prop trading:
- Educate yourself — Learn basic trading principles, use online courses, webinars, and seminars
- Learn to trade — practice opening and closing trading positions, as trading is mostly practical business
- Practice on a demo account — A demo account offers risk-free trading with virtual cash, which is critical
- Develop strategy and backtest — write down the main rules of your trading plan and then backtest on historical data to check its performance
- Participate in trading simulations — trade in simulations or trading contests to test your skills in a real trading environment
- Select a suitable prop firm — Choose a suitable prop firm from the list on this page depending on your trading assets, risk tolerance, etc.
Challenges and Considerations
Becoming an efficient and profitable prop trader comes with its challenges. The pressure to perform and the inherent risk of losses demand a strong and stable psychological attitude from traders. Psychological fortitude will define how well a trader can follow their strategies, ensuring consistency in trading. Selecting a firm that aligns with personal trading goals and risk tolerance is essential for long-term success in prop trading. Another key aspect every trader needs is a continuous learning process and adaptability to market conditions. Ensure to evaluate the strategy and tweak it from time to time as it is one of the most important traits for traders in this dynamic environment.
Understanding the nuances of prop trading is essential for navigating the Forex prop trading landscape in Australia. Evaluate potential firms rigorously, or read our reviews and prepare yourself for the inherent challenges in trading. All these activities will pave the way for a rewarding career in the financial markets as a prop trader.
