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Sarah Edwards
Contributor, Benzinga
February 28, 2024
Benzinga readers often choose SurgeTrader or FundedNext as the best prop firms with no time limits.
Have you ever dreamed of earning a healthy income by risking someone else’s cash? That possibility can now be a reality with proprietary or “prop” firms.
Prop firms are companies offering adventurous, skilled traders the opportunity to earn profits with essentially free capital. Using the firm’s money, traders made transactions on commodities and split the proceeds with the prop firm.
Many prop firms allow their traders to operate outside regular business hours. The best firms with no time limit can offer more exposure to both traditional and nontraditional securities.
Quick Look: Best Prop Firms With No Time Limit
- Best for Getting Up to Speed as a Trader: SurgeTrader
- Best for Experienced Traders: FundedNext
- Best for Forex Trading: The 5ers
- Best for New or AspiringTraders: Apex Trader Funding
- Best for Stock Traders: Trade The Pool
- Best for Aggressive Traders: FTMO
Table of Contents
- Quick Look: Best Prop Firms With No Time Limit
- Best No Time Limit Prop Firms
- Best for Getting Up to Speed as a Trader: SurgeTrader
- Best for Experienced Traders: FundedNext
- Best for Forex Trading: The 5ers
- Best for New or Aspiring Traders: Apex Trader Funding
- Best for Stock Traders: Trade The Pool
- Best for Aggressive Traders: FTMO
- How Do Prop Firms with No Time Limitations Work?
- What Does ‘No Time Limit' Mean in Prop Trading?
- Things to Consider with Prop Firms That Have No Time Limit
- Capital and Profit Split
- Trading Rules
- Evaluation Process
- Trading Platform and Tools Available
- Policies for Payouts and Withdrawal
- Educational Content
- Customer Service
- Reputation and User Reviews
- Work With the Best Prop Firms With No Time Limit
Best No Time Limit Prop Firms
Which prop firms are the best for certain situations? Here is a closer look at six of Benzinga’s favorites.
Best for Getting Up to Speed as a Trader: SurgeTrader
Best For:
Accelerated Trader Funding
securely through SurgeTrader's website
SurgeTrader is the best prop firm for traders who want to learn about capital-funded trading from top to bottom. The firm offers a fast account setup, a streamlined platform, a generous 90% profit share and a complete set of powerful educational resources to accompany traders throughout their journeys.
Pros
- Generous profit splits compared to competitors
- Easy account setup
- Comprehensive educational and support resources
Cons
- Trading environment can be competitive
- High examination costs
- Strict limits on daily drawdown and maximum losses
Best for Experienced Traders: FundedNext
Read Review
Best For:
Day Traders
securely through FundedNext's website
The relatively new FundedNext platform offers plenty of opportunities for experienced market players, especially day traders. It allows traders to hold accounts up to $4 million, increasing their range of opportunities, especially in forex markets. FundedNext is prompt with its transactions and offers vast educational resources.
Pros
- Fast payouts
- Generous account balance limits
- Availability in 195 countries
Cons
- No “free” plans
- High account balance minimums for challenge phase
- Limited resources, long wait times for customer support
Best for Forex Trading: The 5ers
Read Review
Best For:
Experienced and beginner forex, indices and metal traders
securely through The5ers's website
The 5ers allows traders of all experience levels to operate with a sizable capital balance, offering a profit split of 50% from bonus funds. Based in the United Kingdom, The 5ers use the MetaTrader 5 (MT5) trading platform, making it easy to trade in alternative markets like forex, precious metals and indices. The 5ers’ account fees are reasonable.
Pros
- Superior platform for alternative securities
- Demo account and paid training for new traders
- No limits on trading strategy
Cons
- Traders must agree to certain funding conditions
- Low, 2% ceiling on risk level
- Strict regulations on multiple and inactive accounts
Best for New or Aspiring Traders: Apex Trader Funding
Read Review
Best For:
Beginner Future Traders
securely through Apex Trader Funding's website
Apex Trader Funding is best suited for traders who are just getting started in their practice. It offers flexible plans for affordable subscription rates, with clear challenges and an industry-high 90% profit payout. Traders can choose from eight different trading plans with funding between $25,000 and $300,000. Payouts happen twice per month.
Pros
- Traders keep all profits on the first $25,000 of trade
- Wide range of tradable asset pools
- Access to four trading platforms
Cons
- All trades are futures contracts
- Trading plans not configured for scalability
- Certain countries (Iran, Iraq, South Africa) are excluded from trading
Best for Stock Traders: Trade The Pool
Read Review
Best For:
Stock Traders
securely through Trade The Pool's website
A subsidiary firm of The 5ers, Trade The Pool is an excellent option for traders who largely deal with stocks. It provides four account sizes, 14-day free trials and payouts of up to 80% on gains. With Trade The Pool’s Scale-Up program, traders can assume more risk and earn more money with higher daily losses in a legal version of the “pump and dump” strategy.
Pros
- Access to over 12,000 stocks and ETFs
- Multichannel, fast customer support
- Experienced staff with ties to The5ers.com
Cons
- Challenging requirements
- Occasional issues with logins and trade delays
- Higher rates of slippage, bugs and technical problems
Best for Aggressive Traders: FTMO
FTMO, founded in the Czech Republic, puts prospective traders through a two-step test process, after which it receives up to $200,000 to start trading. It offers an 80% profit split to start with, making a 90% split available after traders successfully reach FTMO’s Scaling Plan. Evaluations are strict, but once traders pass them, FTMO makes trading exceptionally easy.
Pros
- Low testing costs
- High starting payout of 80%
- Accessibility to classic platforms
Cons
- Strict test requirements, with a profit target of 10% for the first month
- Lowest allowable maximum loss of 10%
- Lack of transparency about company funding
How Do Prop Firms with No Time Limitations Work?
A prop firm is a company that gives its clients an amount of capital to trade with. In return, clients share a percentage of the profits they earn.
Prop firms without time limits give traders more options for when and how they execute trades. They entrust their traders to set their schedules, often remotely, with a great degree of independence. Traders are compensated according to their performance, sharing a percentage of their profits with the prop firm.
In giving them more independence, prop firms with no time limits implore their traders to continue learning and evolving in their craft. They encourage open communication channels and the use of advanced technology to conduct business.
What Does ‘No Time Limit’ Mean in Prop Trading?
A prop firm with “no time limits” gives traders carte blanche to trade outside regular business hours. Alternatively, these firms may not require their traders to be at a physical trading desk or station during certain times.
Without time limits, prop firm traders have greater flexibility and access to global markets. They’re under less pressure to trade within a dictated time frame, allowing them to explore various trading practices and styles.
A prop firm with no time limits does not impose a minimum of trading days. Without the minimum, traders can take time to try different approaches in varying market conditions without pressure.
Things to Consider with Prop Firms That Have No Time Limit
When evaluating prop firms that do not have time limits, prospective traders need to think about several factors.
Capital and Profit Split
Prop firms generally use a profit-sharing model. Traders get a certain percentage of the profits they earn. They may offer an even 50-50 split or increase traders’ percentages once they hit certain revenue thresholds. They may also adjust their compensation based on past performance, risk tolerance or other factors.
Fully understand what compensation practice your prop firm follows before agreeing with them.
Trading Rules
Prop firms with no trading limits may hold their traders to certain rules and limitations. Most have strict policies about risk management and the daily losses they may incur. Some impose limits on the capital they provide or the leverage they allow traders. They also expect their traders to comply with regulations, changing laws and codes of ethics.
Evaluation Process
Prop firms offer traders challenges to ramp up their abilities, glean insight from their transactions and access more of the firm’s capital. They may use profit and loss measurements, drawdowns and different scenarios to evaluate trader skills.
Trading Platform and Tools Available
Prop firms with no limits may offer traders various platforms, algorithmic tools, risk management software and programs for technical, fundamental, performance and risk analytics. This technology can impact each trader’s ability to develop effective strategies and make smart trading decisions.
Policies for Payouts and Withdrawal
A trader must be clear on their prop firm’s compensation practices. They should know the company’s percentage split, payout schedule, withdrawal fees and requirements and provisions of capital. Their contract should also contain information on taxation, specific targets and how payouts are calculated.
Educational Content
Prop firms have the double objective of earning profits and helping traders become better. They should offer an array of strategies, risk management trading, analytical software, compliance checklists and webinars that can contribute to the development of a trader’s craft.
Customer Service
Prop firms owe their traders positive and helpful customer service. They should provide regular software upgrades, access to trading analytics, personalized trader support and comprehensive educational and informational resources.
Reputation and User Reviews
Online trading communities and review websites may offer information about a prop firm’s history, performance, culture and reputation. This information can be found in blogs, websites, industry publications and casual channels like networking events and workshops.
Work With the Best Prop Firms With No Time Limit
Prop firms offer traders the unusual prospect of earning generous incomes with little to no personal risk. As with any alternative investment strategy, traders must be cautious about working with prop firms. But for those with high risk tolerance and experience, they may be lucrative opportunities.
