India continues to embrace trading, primarily Forex and equity trading. It is rapidly expanding its trader base while implementing cutting-edge technology and advancements in FinTech. Naturally, prop trading popped on the radar of many Indian traders, but how can you ensure that you trade with reputable prop firms in India?
My in-depth review covers all aspects Indian prop traders should consider before paying for an evaluation challenge. Read on to learn about the pros and cons and how to choose a prop trading account in India.
Top Prop Trading Firms with INR Accounts
- Rocket21, A community of 50M+ traders with payouts of $4M+.
- fundedprime, Portfolio scaling up to a maximum of $800,000 per trader.
- Lionheart Funding, A three-phase evaluation with a 6%-5%-4% profit target.
- Profitex, A generous 7% daily loss limit with a 10% maximum drawdown.
- Sabiotrade, .
Rocket21
In Summary A community of 50M+ traders with payouts of $4M+With an impressive community of 50M+ prop traders, maximum leverage of 1:100, and payouts of $4M+, Rocket21 ranks among the best prop firms in India. All evaluation and trading accounts are in partnership with Eightcap. All funded accounts are demo accounts, and Rocket21 allows prop traders to scale their portfolio after three consecutive profitable months with an upper limit of $2M.
The maximum profit share is up to 90%, and prop traders benefit from competitive Eightcap trading conditions, including Forex commissions of $7.00 per 1.0 standard round lot, $3 for metals, and commission-free costs for indices, cryptocurrencies, and oil.
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
fundedprime
In Summary Portfolio scaling up to a maximum of $800,000 per traderFundedprime provides prop traders with the competitive trading conditions of Eightcap, including deep liquidity, fast order execution, low fees, and a well-balanced asset selection exceeding 800 trading instruments. Prop traders get a maximum leverage of 1:50 and can manage up to $800,000. It places Fundedprime among the best prop firms in India.
The maximum profit share is 80%, and prop traders must trade for at least three days during the challenge per evaluation stage without an upper limit. The maximum daily drawdown is 5%, with a maximum drawdown of 10%. The two-step verification process has a 10%-5% profit target.
Pros & Cons
- Cryptocurrency withdrawals
- There is no time limit during the evaluation process.
- Maximum profit share up to 80%
- Trading via the platforms of trusted Australian brokerage Eightcap
- Limited operational history
Lionheart Funding
In Summary A three-phase evaluation with a 6%-5%-4% profit targetI rank Lionheart among the best prop firms in India as it maintains one of the most competitive evaluation conditions and the lowest fees. There are no minimum or maximum trading day requirements. The lowest profit target is 6%, with a 4% daily drawdown limit and an 8% maximum drawdown. All evaluation and funded accounts are with Eightcap, and prop traders can choose among four challenges.
Prop traders get an edge with a balanced asset selection and maximum leverage of 1:100. Lionheart allows algorithmic trading in its Roar challenge but not for funded accounts, while news trading is permitted.
Pros & Cons
- Trading via the platforms of trusted Australian brokerage Eightcap
- Low minimum evaluation fee
- Fast payouts, usually within 24 hours
- Profit share of 90%
- Limited operational history
Profitex
In Summary A generous 7% daily loss limit with a 10% maximum drawdownProfitex has 100K+ funded traders and allows prop traders to manage a maximum of $200,000. Prop traders must pass a one-step verification and trade for at least three days. The profit target is 10%, with a 5% daily drawdown limit and a 10% maximum drawdown. Profitex requires traders to trade at least ten days to qualify for a profit split, which is 80%. Therefore, I rank Profitex among the best prop firms in India for conservative traders.
All challenge and funded accounts are with Eightcap, which includes competitive spreads, low commissions, deep liquidity, and fast order execution.
Pros & Cons
- Offers trusted Australian broker, Eightcap's trading platform
- Cryptocurrency withdrawals
- There is no time limit during the evaluation process
- Maximum profit share up to 80%
- Limited operational history
Sabiotrade
In SummaryI rank SabioTrade among the best prop firms in India as it offers a free evaluation challenge. It also allows micro lot trading from 0.001 lots or 100 currency units. SabioTrade has $300M+ in funded accounts, offers raw spreads from 0.0 pips, and the asset selection exceeds 250 trading instruments. The maximum leverage is 1:30, and prop traders can scale their accounts up to $2M.
SabioTrade has five funded accounts, from $20,000 for an evaluation fee of $119. It also has a Pro 3 and a Pro 12 bundle, allowing prop traders to take three and twelve challenges, respectively.
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 India?
Every prop trader must decide if prop trading is a good idea in India based on their skill set and strategy. When evaluating the best prop firms in India, prop traders must ensure that the trading restrictions and parameters are compatible with their preferred trading strategy. Non-US prop firms offer a low-cost solution, as they lack recurring monthly costs. All prop firms have strict risk management rules, and some add consistency rules. Therefore, Indian prop traders must choose a prop firm that supports their trading style.
Pros and Cons of Prop Trading in India
Before paying for an evaluation or subscribing to a monthly fee, even with the best prop firms in India, prop traders should consider the pros and cons of prop trading in India.
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
- Tight risk management rules
- Some consistency rules make select trading strategies uncompetitive
- Not all prop firms allow algorithmic trading
- Performance pressure
How to Choose a Prop Trading Account in India
The best prop firms in India offer similar core trading conditions to ensure prop traders have a competitive edge.
Prop traders should ensure their prop firms excel in the following aspects:
1. Reputation - Since prop firms are unregulated but duly registered businesses, I recommend traders avoid newly established prop firms. Reading reviews may help, but traders should approach them with caution and avoid reviewers without a history.
2. Trading Costs - US-based prop firms charge monthly subscription fees, and traders should consider these recurring costs. Non-US prop firms have one-time evaluation fees, making them significantly more cost-effective. The trading costs are reasonable, but they differ between prop firms. Trading fees depend on the prop firm’s partner brokers, which transparent firms provide.
3. Trading Platform - The best prop firms in India offer MT4, MT5, TradeLocker, and DXtrade. Some offer proprietary trading platforms or alternative third-party providers.
4. Profit Share - I recommend traders ignore all prop firms with a profit split below 80% and favor 90%+.
5. Asset Selection - The asset selection depends on the prop firm and their partner broker. Prop traders must check if their prop firm offers the assets they require.
6. Trading Strategies - Traders must verify that their prop firms allow the trading style they wish to execute. 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 receiving payouts.
8. Payouts - The best prop firms in India allow cryptocurrency transactions with fast internal processing times and low minimum payout amounts, but bank wires remain the go-to payment processor.
Does The SEBI Oversee Prop Trading Companies in India?
The SEBI does not oversee prop trading companies in India. Prop trading is an unregulated business, but the best prop firms in India are duly registered companies. SEBI has warned traders that prop trading firms violate local securities market laws but did not ban their operations.
What Can You Trade with a Prop Firm in India?
Asset selection at the best prop firms in India depends on the prop firms and their partner broker. Their selection usually consists of Forex, cryptocurrencies, commodities, metals, equities, ETFs, and futures.
What Trading Platforms are Available in India for Prop Trading?
The best prop firms in India offer MT4 and MT5, as they support algorithmic trading. Some add TradeLocker and DXtrade, and a few prop firms feature alternative third-party providers or deploy proprietary solutions.
How Do Payments Work with Prop Accounts?
Prop firms decide which payment processors to accept, and the best prop firms in India support cryptocurrency deposits and withdrawals. Prop traders must have an account with a supported payment processor. They should also check the minimum withdrawal amounts and consider third-party follow-on costs.
Bottom Line
Trading with the best prop firms in India can offer a critical boost to traders with a profitable trading strategy and insufficient capital, but only if the trading conditions support the trader and sustained profitability. Most prop firms present themselves as an excellent choice, but prop traders must understand the trading rules and restrictions, which can curb the successful execution of trading strategies.
Another fact to consider is that despite the best marketing offers, most prop firms rely on evaluation fees or monthly subscriptions for their income and not on trading. The high failure rate of traders and the restrictive risk management create a highly profitable business model for prop firms but not for traders. Therefore, Indian prop traders must carefully evaluate prop firms before paying the evaluation fee.
