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.
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4.9/5The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.A maximum profit share of 90% & cryptocurrency withdrawalsFour trading platforms & 24/7 customer support in 18 languages 2 
4.7/5The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.Profit share of 90%, but traders keep the first $25,000Tick Strike indicator & trade copier for multi-account management
- FTMO, the best prop trading firm with a genuine path for salaried prop traders.
- Apex Trader Funding, features no scaling requirements and does not have daily drawdown limits.
FTMO
In Summary the best prop trading firm with a genuine path for salaried prop tradersI rank FTMO among the best prop firms in the UK, as it has a clear path to transition from retail to professional prop trading, with a contract and a fixed salary. Traders can choose from five funded accounts starting at $10,000 with an €89 evaluation fee and a maximum of $200,000 for €1,080. FTMO offers seven account base currencies and a maximum leverage of 1:100.
FTMO permits EAs, but the challenge requires at least four trading days. The two-step verification has a 10% - 5% profit target, a maximum daily loss limit of 5%, and a maximum drawdown of 10%.
Pros & Cons
- Reasonable profit targets and generous maximum loss levels
- 80% to 90% profit share with a fast withdrawal process
- Customizable two-step evaluation period with free retrials where applicable
- MT4, MT5, and cTrader accounts with generous leverage
- No information about which broker or brokers FTMO uses
Apex Trader Funding
In Summary features no scaling requirements and does not have daily drawdown limitsApex Trader Funding offers eight accounts via Rithmic/NinjaTrader or Tradovate/NinjaTrader with a $25,000 minimum and a $300,000 maximum, including a $100,000 static account. No daily drawdown limits or portfolio scaling exist. Monthly subscription fees start from $147 and max out at $657, which includes the monthly costs for Ninja Trader and real-time data fees of $75 and $55. This places Apex Trader Funding among the best prop firms in the UK.
Traders can use a trade copier to manage up to 20 funded accounts. The profit requirement is only 6%, and funded traders can request bi-monthly withdrawals.
Pros & Cons
- Algorithmic and multi-account management support
- An excellent choice of trading tools
- There is no time limit during the evaluation process
- A maximum profit share of 90% and 100% of the first $25,000
- Limited choice of payment processors
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.
