Best Prop Firm Trading Platforms - (2024)

Best Prop Firm Trading Platforms - (1)Best Prop Firm Trading Platforms - (2)

One popular trading platform used by many proprietary trading firms is MetaTrader. While MetaTrader is a powerful and versatile platform, it may not be the best fit for every prop firm. In this article, we’ll explore some of the alternatives to MetaTrader that are available to prop firms. We’ll discuss the features and benefits of these platforms, and help you determine which one might be the best fit for your firm’s needs.

Comparing Metatrader with Alternatives

When it comes to selecting the trading platform for prop firms, MetaTrader is often the first choice. However, there are alternatives available in the market that offer similar or even better features. In this section, we will compare MetaTrader with some of the popular alternatives based on different parameters.

User Interface and Experience

Meta Trader has a simple and user-friendly interface that is easy to navigate. It offers customizable charting options, multiple timeframes, and real-time data streaming. Some traders may find the interface to be outdated and not very visually appealing.

One alternative to MetaTrader is TradeLocker, which offers a modern and sleek interface with advanced charting and technical analysis tools.

Technical Indicators and Charting

Meta Trader offers a wide range of technical indicators and charting tools that can be customized according to the trader’s preferences. It also allows traders to create their own indicators and automated trading strategies using MetaQuotes Language (MQL).

An alternative to MetaTrader is ProRealTime, which offers over 100 technical indicators and advanced charting features. It also allows traders to create their own indicators and trading strategies using ProBuilder, a visual programming language.

Algorithmic Trading Support

Meta Trader is known for its strong support for algorithmic trading. It offers a built-in strategy tester that allows traders to backtest their trading strategies using historical data. It also supports Expert Advisors (EAs), which are automated trading programs that can be created using MQL.

Another alternative to MetaTrader is NinjaTrader, which offers advanced charting and technical analysis tools as well as support for automated trading. It also offers a built-in strategy analyzer that allows traders to backtest their trading strategies using historical data.

Cost Comparison


MetaTrader is a free platform that can be downloaded from the MetaQuotes website. Some brokers may charge a fee for using MetaTrader on their platform.


NinjaTrader offers a free version with limited features, as well as paid plans that offer more advanced features and data. However, traders also need to pay a one-time license fee to use NinjaTrader.


ProRealTime offers a free trial period, after which traders need to pay a monthly subscription fee.


TradeLocker offers paid plans that offer more advanced features and data.

When it comes to choosing a trading platform for prop firms, it is important to consider factors such as user interface, technical indicators and charting, algorithmic trading support, and cost. MetaTrader is a popular choice, but there are alternatives available that offer similar or even better features.

Regulatory Compliance and Security

When choosing a trading platform for your prop firm, regulatory compliance and security should be at the top of your list of priorities. Here are some key considerations to keep in mind:

Data Protection

Data protection is crucial for any trading platform. You want to ensure that your sensitive data, such as client information, is protected from unauthorized access. Look for a platform that uses encryption and other security measures to keep your data safe.

Audit Trails

Audit trails are an important feature of any trading platform. They allow you to track and analyze trading activity, which can be useful for compliance purposes. Look for a platform that offers robust audit trail functionality, including detailed reports and analysis tools.

Licensing Requirements

Licensing requirements vary by jurisdiction, so it’s important to choose a trading platform that is compliant with the regulations in your area. Look for a platform that is licensed and regulated by the appropriate authorities, and that has a proven track record of compliance.

Is MetaTrader Leaving the USA? Considering an Alternative

It appears that MetaTrader is no longer serving USA Prop firms. In such cases, TradeLocker could be the best alternative, tailored to the needs of US-based traders. Let’s check why.

TradeLocker: An Alternative for MT4 and MT5 Based Prop Firms

TradeLocker offers lightning-fast order execution, impressive reliability and uptime, top-notch security protocols, and a clean and intuitive user interface. Its extensive customization and scalability make it an appealing option for prop firms.

Why TradeLocker Stands Out for Prop Firms in 2024

TradeLocker features are impressive. It has a lot size of 0.01, 500+ assets, one-click trading, TradingView integration, high-quality charts and indicators, superior charting, in-app trading, optimization for all devices, and the ability to trade micro lots.

It’s important to note that TradeLocker doesn’t allow the use of EAs or any other bots, and its range of technical indicators is smaller compared to MT4.

Read the full Tradelocker review.

How to Integrate with TradeLocker

Integrating with TradeLocker involves a few key steps. To connect a prop firm account with Tradelocker, traders typically need to utilize an application programming interface (API) provided by the firm or supported by Tradelocker. This ensures secure access and synchronization between trading activities and the platform.

Prop Firms using TradeLocker

FunderPro, OspreyFX are some of the best options for traders that use TradeLocker as their trading platform.

Proprietary Firms Using MT4 & MT5

FunderPro, FTMO, and Toptier Trader are among the top options for traders utilizing MetaTrader 4 as their primary trading platform.

FunderPro, FTMO, Toptier Trader are some of the best options for traders that use MetaTrader 5 as their trading platform.

Prop firms using cTrader

FTMO are some of the best options for traders that use cTrader as their trading platform.

Which prop firms use TradingView?

Topstep are some of the best options for traders that use TradingView as their trading platform.

Final Word

Prop firms face the challenge of navigating a complex landscape of global financial regulations. Compliance with key regulations such as MiFID II in Europe, the Dodd-Frank Act in the U.S., ASIC regulations in Australia, and data protection and privacy laws are crucial.

These include stringent requirements for transparency, reporting, comprehensive market regulation, consumer and investor protection, as well as the safeguarding of client information in the digital era, so finding reliable platforms becomes a key.


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Best Prop Firm Trading Platforms - (2024)


Which is the most trusted prop firm? ›

The most popular prop trading firms and funded programmes
  • Axi Select.
  • FTMO.
  • The Forex Funder.
  • E8 Markets.
  • True Forex Funds.
  • The 5%ers.
  • Funded Next.

Which prop firm is regulated in the US? ›

OANDA, Axi, and Hantec Markets are three regulated forex and contracts for differences brokers that launched prop trading services.

What prop firm has the fastest payout? ›

Funding Pips and Maven lead the rankings with the most frequent pay-outs, offering transactions every 5 days. Close behind, Traddoo and Funded Trading Plus offer weekly pay-outs. Smart Prop Trader, with its 12-day pay-out cycle, caters to those with a trading style that can accommodate less frequent access to funds.

How do I choose a prop trading firm? ›

Don't just pick the first prop trading firm you find. Choose one with a good reputation, support for traders, good tools, safety measures, fair costs, and a friendly community. This way, you can trade smarter and have a better chance at success.

Which prop firm is better than FTMO? ›

FunderPro: FunderPro is the most popular alternative to FTMO. It has a similar two-step challenge process, but the requirements are slightly more lenient. For example, the FunderPro Challenge requires a 10% profit target in 30 days, while the FTMO Challenge requires a 12% profit target.

Why is FTMO banned in the US? ›

FTMO have now restricted access to all new US-based traders as of January 2024. This appears to be related to regulatory issues and may have something to do with the recent My Forex Funds case.

Is FTMO allowed in the US? ›

Please note that FTMO does not provide services to persons in/from (both nationals and residents) Iran, Syria, Myanmar, North Korea and USA, persons listed on sanction lists, persons with criminal records related to financial crime or terrorism, and persons previously banned because of breach of contract.

Why are prop firms being shut down? ›

Therefore, when a funded trader makes profits – it costs the company money. The only way that traders can be paid is from other traders signing up and failing their prop firm challenges – This is literally a Ponzi scheme. Winners getting paid out because of losers. These firms will be shut down by the regulators.

Why are prop firms moving away from MetaTrader? ›

The industry's challenges stem from tightened restrictions by MetaQuotes, affecting Prop trading firms' access to MetaTrader platforms. This development has prompted a reassessment of the trading technology infrastructure and partnerships that underpin their operations.

Which prop firm is the cheapest? ›

Cheapest Prop Firms Forex 2024 - with $5K Funding Accounts...
  1. The5%ers. The5%ers specializes in providing funding of up to $100,000 to forex traders. ...
  2. FTMO. ...
  3. MyForexFunds. ...
  4. Earn2Trade. ...
  5. The Funded Trader Program. ...
  6. OneUp Trader. ...
  7. Apex Trader Funding. ...
  8. True Trader.
Feb 27, 2024

What happens if you lose money in a prop firm? ›

Proprietary trading firms often provide evaluation accounts where you prove your trading skills. Usually, you pay a one-time fee to enter this "challenge." If you lose money during this evaluation, you won't owe anything beyond the initial fee.

Can you make a living trading for a prop firm? ›

Yes, as a funded trader with True Forex Funds, it is possible to make a living from prop trading firms. Proprietary trading firms, or prop firms, often provide traders with the opportunity to trade with the firm's capital, allowing them to access larger trading positions and potentially increase their profits.

Do you need a Series 7 to trade at a prop firm? ›

Each Representative shall be required to pass the Series 7 General Securities Representative Qualification Examination unless his or her activities are so limited as to qualify him or her as a Proprietary Trader as specified hereafter.

Is trading for a prop firm worth it? ›

While prop trading is one of the most profitable opportunities, it is affected by asymmetric risk. This means that the profit-sharing ratio may be from 75% to 90%, but you bear 100% of the risk of your trades. When becoming a prop trader, you often need to deposit an amount of money known as your risk contribution.

How much money to start a prop trading firm? ›

To summarize, the amount of money you need to open a prop firm can range from $10,000 to $1 million, depending on the type of prop firm, the technology, the registration, the liquidity, and the CRM tool.

Are there any legitimate prop firms? ›

FTMO (previously known as MyForexUniverse) is one of the largest and best-known prop firms globally. Based in the Czech Republic, they provide funded accounts up to $400,000 to traders that can pass their evaluation.

Do prop firms really pay out? ›

Yes, prop firms do pay. While there are some scams out there popping up everyday, reputable prop trading firms like True Forex Funds, FTMO,5%ers,FundedNext are legitimate and pay traders according to their profit-sharing agreements. As for True Forex Funds, I can vouch for their credibility.

Is FTMO trusted? ›

Having successfully operated since 2015, we provided thousands of clients with their FTMO Accounts, and in total, we have paid out over $160 million. We've also been featured in Forbes and awarded by Deloitte and EY multiple times.


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