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Forex Funded Account Free: Top Programs that Don’t Require Deposit

Forex Funded Account Free: Top Programs that Don’t Require a Deposit

In this article, we will discuss the top free forex funded account programs that don’t require a deposit from traders.

What is a Free Funded Account?

Forex-funded accounts, also known as funded trading or proprietary trading programs, offer new and aspiring traders the chance to trade Forex using capital they haven’t personally invested.

Essentially, these accounts allow beginner traders to utilize funds provided by third parties to engage in the Forex market.

Traders typically need to demonstrate their knowledge of the Forex market and prove their trading skills by meeting specific criteria set by the trading platform. Once they meet these requirements, the funding company allocates a certain amount of capital for the trader’s use. This capital remains the property of the funding company.

The advantage of a funded Forex account is that traders can retain a portion of the profits they generate, usually between 50% and 80%, depending on the agreement with the funded trader program.

Forex-funded programs provide a unique trading approach, enabling aspiring traders to grow and learn in a practical yet secure environment.

How Forex Funded Accounts Operate

Here’s a general outline of how these programs usually function:

Evaluation Phase

Most funded account programs begin with an evaluation phase. Traders receive a demo or live account with a set amount of capital and must showcase their trading abilities. They need to follow specific risk management rules, achieve profitability targets, and possibly meet other criteria.

Account Funding

After successfully completing the evaluation phase, traders are given a funded account. This means the proprietary trading firm provides them with capital to trade, which can range from a few thousand to several million dollars, depending on the program and the trader’s proven skills.

Trading Rules and Guidelines

Even with a funded account, traders must adhere to strict risk management rules. These can include limits on maximum drawdown, rules about holding trades over weekends or during major news releases, and guidelines on the maximum lot size per trade, among others.

Profit Sharing

Earnings generated in a funded account are typically divided between the trader and the funding company. The split often ranges from 50/50 to 80/20, favoring the trader. The exact distribution depends on the specific program and the size of the account.

Top 5 Free Forex Funded Account Programs that Don’t Require Deposits

We compiled a list of the top 5 forex funded accounts that don’t require a deposit.

  1. The 5ers

    The 5%ers provide three distinct programs, each requiring a one-time fee. These programs vary in fees and potential funding capital:

    • Hyper Growth Program: Entry fee ranges from $260 to $850, with funding capital between $5,000 and $20,000, and a leverage of 1:30.
    • High-Stakes Challenge: Entry fee is $39, offering funding capital from $5,000 to $100,000, with a leverage of 1:100.
    • Bootcamp Program: Entry fee is $95, with funding capital ranging from $100,000 to $250,000, and a leverage of 1:10.

Additionally, the profit targets for these programs range from 5% to 10%.

  1. City Traders Imperium

    City Traders Imperium offers the opportunity to become a funded trader by completing a challenge. These challenges range in value from $5,000 to $100,000. Additionally, they have one-time fees that vary based on the challenge size, starting at $59 and going up to $509.

    The challenge is divided into two parts: the first part lasts 45 days with a 10% profit target, while the second part lasts 5 days with a 5% profit target. Moreover, the profit split during the challenge can reach up to 100%. All challenges provide a leverage of 1:33.

  2. FTMO

    FTMO is a reputable provider of forex-funded accounts, known for its stringent application process. Initially, the process begins with the FTMO challenge, a 30-day period where traders must meet specific profit targets.

    Upon successfully completing this challenge, traders move on to a 60-day verification phase. During this phase, they must replicate the success achieved in the initial challenge. Only after successfully navigating this 90-day process will FTMO extend an offer to the trader. The forex-funded accounts available range from $10,000 to $400,000.

    Additionally, notable features of the FTMO-funded trading program include 1:100 leverage, access to trading platforms such as MT4, MT5, and cTrader, a free trial option, and a diverse range of markets including currency pairs, cryptocurrencies, indices, and stock CFDs.

  3. The Funded Trader

    The Funded Trader offers a unique approach to funded accounts, with a video game-like interface and four challenges from which traders can select from:

    • Standard Challenge: This option provides accounts funded with $10,000 to $400,000. You can choose between swing and regular risk, with a 35-day trading period, 1:60 leverage, and a 10% profit target.
    • Rapid Challenge: Accounts are funded with $10,000 to $200,000. Similar to the Standard Challenge, you can choose between swing and regular risk. It also has a 35-day trading period, but with 1:30 leverage and an 8% profit target.
    • Royal Challenge: This challenge funds accounts with $50,000 to $400,000. It has a 35-day trading period, regular risk, 1:200 leverage, and an 8% profit target.
    • Knight Challenge: Accounts are funded with $25,000 to $200,000. This challenge offers an unlimited trading period, 1:30 leverage, and a 6% profit target.

    Each challenge comes with a fee, which varies based on the type of challenge and the size of the account. Therefore, it’s important to consider these factors carefully before making a decision.

  4. My FxFunds

    MyFxFunds offers an appealing forex-funded account with options suitable for traders at all experience levels. Depending on your expertise, you can join one of their trading programs:

    • Rapid: Designed for novice traders, this training program offers account sizes from $10,000 to $100,000. You can earn bonuses while learning, with no time limit, and payouts that increase over time. The registration fee ranges from $99 to $749.
    • Evaluation: This program serves as a testing ground for traders seeking funding, with account sizes from $5,000 to $300,000 and 1:100 leverage. The registration fee ranges from $49 to $1,389, with an 8% profit target.
    • Accelerated: Aimed at professional traders, this program allows you to skip the evaluation phase and start with account sizes from $2,000 to $50,000, which can later be scaled up to $2,000,000. It offers 1:100 leverage, with a registration fee ranging from $99 to $4,900, and a profit target of 10-20%.

    These programs cater to different levels of trading experience, providing flexibility and opportunities for growth.

    Conclusion

    When choosing from the best forex-funded programs, you need to know which assess their features and programs, and make your choice based on your experience level and personal trading preferences.

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