Best Prop Firms in South Africa 2024 - Skrumble (2024)

In this article, we cover the best Forex prop firms in South Africa.

From our extensive testing of prop trading firms, we found that these crypto and Forex are the best prop firmsin South Africa.

To come up with the list we leveraged our first-hand knowledge of each prop firm, analyzed user reviews, and studied expert opinion on each of the prop trading firms.

Our pick for the best proprietary trading firm is True Forex Funds.

Through our extensive hands-on analysis, we found that the prop trading firmoffers one of the most relaxed trading rules and low-profit targetscatering to both beginners and advanced traders.

This Forex prop firmstands out from other prop firms for its simple trading ruleswhich allow traders to participate in news trading without restrictions, use Expert Advisors, and select the trading style of their choice without repercussions.

Also, True Forex Funds hasa low profit target which gets up to 8%. This is 2% lower than the industry average for Forex prop firms in South Africa.

True Forex Fundsoffers a fixed profit split of 80% toForex traders and crypto traders that pass their 2-phase or 1-phase evaluation process.

The profit split isn’t as flexible as with most options that offer scaling options for increasing the trader’s share of profits.

Unlike most Forex prop trading firms, True Forex Fundsdoes not place a time limit on the required trading periodfor the evaluation of its 2 phase challenge.

It alsodoesn’t require minimum trading days for the same challenge as well.

Like other proprietary trading firms, True Forex Funds partners with licensed and regulated brokers. Itadheres to local Anti Money Laundering lawsby conducting client verification from time to time.

The forex prop firm alsocarries out regular monitoring of client transactions to detect unusual behavior.

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Fidelcrest is a Cyprus-based Prop Firm that gives advanced prop tradersaccess to large trading capital (up to $2,000,000).

Unlike other competing Forex Prop Firms, Fidelcrest has tight trading rules and particularlyfrowns at automated trading. The use of Expert Advisors is prohibited except under the recommendations of their Risk Team.

Traders are also mandated to add Take Profit and Stop-Loss when trading news events.

That said, Fidelcrestsupports manual copy trading, swing trades, and weekend and overnight trades.

The Fidelcrest demo accountallows you to test your trading strategies and trade using virtual fundsunder predefined rules during the evaluation period. The demo account supports all instruments and transactions supported on the Fidelcrest platform.

It is alsosubject to all the rules available for live trading.

The type of demo account assigned to you is dependent on the trading conditions of the trading platform that you selected for trading.

Fidelcrest is asafe award-winning Forex prop firm.

It does not accept any deposit from traders nor does it offer any financial services that need to be regulated by the Financial Services Authority or any similar regulatory body.

Like most prop firms, Fidelcrest conducts KYC verificationonall usersin line with international AML requirements.

It alsoensures the safety of users’ private datathrough the use of encrypted databases.

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FundedNext is one of those Forex prop firms that struggles to stand out in the industry due to itslimited selection of instruments.

However, it made it in our list of the best Forex prop firms in South Africa for itsvast educational resource centerthat offers courses on various subjects like trading psychology and basics.

FundedNext also chargesone of the most affordable evaluation feeswhen compared to other prop firms in the industry starting at $49.

FundedNextoffers a 15% profit splitto users during the challenge phases thenallows funded traders to increase their profit share by maintaining consistent positive trading performance.

FundedNext Economic Calendar

This forex prop firm offers aneconomic calendar that contains previous and future global newsthat can affect the financial markets.

The information provided by the prop firm’s economic calendaraids traders in making informed trading decisionsto avoid huge losses.

FundedNext is registered as a proprietary trading firm andutilizes machine learning and algorithms to detect fraudand unusual user behavior.

The Forex prop firm also requires that traders use a single device with 1 IP address. Traders that move to a new location will need toprovide identity documents that prove their new location.

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This prop firm made it to our list of the best Forex prop firmsfor the access to large funding they provide to advanced traders.

The prop firm isn’t for beginners but professional proprietary traders will find the platform seamless to use.

For tradable instruments, The Funded Tradersupports Forex, commodities, indices, and crypto(BTC, BCH, ETH, & LTC).

The Funded Trader Kings program isfor advanced proprietary traders who have demonstrated consistent profitson the prop firm.

It offers the opportunity for traders toaccess capital of up to $1,500,000 to increase their profit share.

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The Funded Trading Plus prop trading firm is an extension of Trade Room Plus which was launched in 2013. The UK’s premier live trade room for retail traders.

The Funded Trading Plus proprietary trading firm wascreated to eliminate the inequality and disadvantage that many traders face when they trade with limited funds.

It is available to users all over the world including South African Traders. It offersdifferent account sizes starting at $15,000 to $250,000. You can scale up to $2,500,00.

The Funded Trading Plus prop trading firmdoes not have time limits on its evaluation.You can take as much time as you need for your evaluations. The platform only has a 40-day account activity requirement which requires that you place one simulated trader per 30 days. Inactive accounts aresuspended.

The Prop Firm has a low withdrawal minimum of $50.You can withdraw from your account right from the first day you join the program.

Unlike most prop trading firms, Funded Trading Plusallows you to copy trade one of your accountsacross to one of FT+ accounts.

The Prop firmdoes not support copying to multiple FT+ accounts.

Also, Funded Trading Plus does allow for more than one account to use the same trading strategies (i.e. making the same trades on the same market at very similar times).

This account isdesigned for serious and talented traders.There are 2 evaluation phases for this account:

In the first phase of evaluation,traders must reach a profit target of 10%while keeping the minimum daily loss at 5%.

Evaluation phase 2 traders need to reach a profit target of 5%and keep the minimum daily loss at less than 5%.

There are no minimum or maximum trading day requirements for both phases of evaluation.

Once you pass the evaluations, you are given a Funded Account.

Theinitial profit split starts at 80% but it can be increased to 90% when you scale your account.

Funded Trading Plus is a safe Proprietary trading firm,registered in the United Kingdom.The prop firmintegrates its technology with EightCap, an ASIC-regulated broker in Melbourne.

The Funded Trading Plus platform has several security measures in place to ensure the security of user’s data.

Allpersonal data are stored in encrypted formin secure manual record-keeping systems to prevent loss, misuse, unauthorized access, and alteration of users’ data.

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Based in Naples, Florida, SurgeTrader is a well-funded proprietary trading firm with asingular mission to accelerate trader fundingand help outstanding traders capitalize on their success.

The prop firmsupports several instruments including indices, stocks, commodities, Forex, etc.

SurgeTrader is funded by a venture capital group and holding company. In just 2 years of service, it has won several awards of excellence in the industry.

Unlike most proprietary trading firms that require at least 2 phases of evaluation,SurgeTrader only runs a one-step evaluation.Once you pass the evaluation stage you can access all available account types.

SurgeTrader offers different packages. Account pricesstart from $25,000 to $1,000,000.

Standard profit share starts at 75% but can be increased to 90% with add-on purchases.

Thestandard leverage of 10:1 can also be increased up to 20:1.

Like most proprietary trading firms, Surge Trader runs an affiliate program. the SurgeTrader affiliate programallows South African traders to earn commissionsby referring users to the platform.

SurgeTraderpays a 10% affiliate commission onall new and existing accounts when you refer new traders using your affiliate code or link.

The affiliate program is suitable for content creators, trading group administrators, and education providers.

SurgeTrader provides you with all the marketing toolsneeded to help your affiliate marketing.

Thisincludes social media posts, a branding guide, email templates, videos, and SurgeTrader logos. SurgeTrader can also join your interviews or live videos to help you introduce the prop firm to your audience.

SurgeTrader is a registered and well-funded proprietary trading firmbacked by significant venture capital through its partner Valo Holdings.

All traders’ accounts are managed through ThinkMarkets, a regulated broker with head office in Australia.

SurgeTraderdoes not collect sensitive user informationlike social security numbers. It has several security measures in place to ensure the security of user’s data at all time. Users’ data areonly retained for as long as is necessary. All user data that are no longer needed are securely deleted.

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Headquartered in England, Blue Guardian was originally designed to be a Forex signal provider and an educational institute butwas rebranded in 2021 to a Prop Trading firm.

Blue Guardian stands out amongst other prop firms for its trade protection features.

Itsupports the use of trade copiers and expert advisors. And also supports news trading, copy trading on weekends, etc.

To become a funded trader on the platform, you need to pass the 2 phases of evaluation.

This is abuilt-in equity protector that helps prop traders manage their riskand protect their equity.

It allows you to set a daily percentage loss for your trading account. When your loss for the day reaches the set percentage, your trades are automatically closed.

You can alsoblock any further trades from being madefor the day.

Guardian Protector risk management tool ensures that you do not breach your daily trading loss limit.

Guardian Protector is free and comes at no extra cost.

Blue Guardian is a legitimate prop firm in South Africa and has several measures in place to ensure the security of user’s accounts.

Prop traders are prohibited from engaging in any activity that can sabotage the safety of their accountsand the Blue Guardian platform.

Users are also responsible for the maintenance of the confidentiality of their accountsand other security information.

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The Top Tier Trader Prop trading firm gives prop traders the opportunity and conditions to scale their profits for fast-tracked success and freedom.

It offers different account types and allows traders toreceive up to $300,000.

When compared to other prop firms in South Africa, Top Tier Traderprovides high affiliate commissions for referring new tradersand the initial fee is also refundable.

It also offers anaverage profit split of 80%which can be increased to 90% after several months under certain conditions.

The Top Tier Trader platform isavailable on mobile devicesand accessible to both iOS and Android users. This allows you to access your trading account and trade on the go at any time.

With the Top Tier Trader affiliate program, you canearn between 5% to 20% commissionfor every referral that purchases a challenge account.

The percentage of commission paid isdependent on the number of referrals that make purchaseson the platform.Affiliate payments are paid to the USDT (ERC-20) address specified in the affiliate dashboard.

Like all other prop firms on this list, Top Tier Trader is a secure prop trading platform. Users’ data are protected from unauthorized access or disclosure.

All transmission of users’ personal information like credit card numbers is encryptedusing the Secure Sockets Layer (SSL) protocol.

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Like True Forex Funds, FTMO, founded in 2015 offers loose trading restrictions but what got the prop firm on this list is itssupport for 3 trading platforms; MetaTrader 4, MetaTrader 5, and cTrader, as most prop trading firms just offer MetaTrader.

The prop firm alsosupports a wide range of tradable instruments including Forex, indices, stocks, commodities, crypto, metals CFD, futures, cash CFD, equities CFD, and custom instruments.

FTMO, unlike most prop firms, in its challenge phasegives traders particular amounts to hitnot percentages.

For example, for the FTMO challenge phase 1 participants must hit $1,000 in profit and then $500 in phase 2.

This profit target may appear more appealing to certain Forex traders.

The FTMO trading journal is atool created by the prop trading firm to automatically keep records of all resultsof your trades.

You can even assign screenshots to be taken of your entry and exit of all trades.

Thishelps you to discover flawsin your trading style or habits and improve on them.

FTMO isn’t regulated by any financial body because like most prop firms it does not process or hold users’ funds. That said, itencrypts user personal dataand places several technical measures to prevent unauthorized access.

There is also theusual two-factor authentication feature used to secure accounts.

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Launched in June 2022, Instant Fundingoffers evaluation-free funding.

Instant Funding is also one of the only prop firms to haveno-limit accounts. It offers trading services via Think Markets. Like most proprietary trading firms, itsupports MetaTrader 4 and MetaTrader 5.

Instant Funding offers a wide range of trading instruments and tight spreads.

Instant Funding offers 3 different types of partner programs: Affiliate program, the I. A Program, and the Partner program.

The affiliate programallows you to refer tradersto the prop firm andearn 12.5% in commissionsfor every trader you refer.

The Introducing Affiliate (I.A) program allows you to earn commissions for referring other affiliates to the platform.

While the Partner Program allows you torefer businesses to Instant Funding. This program is suitable for trading communities, account management companies, and similar businesses.

Instant Funding is aregistered proprietary trading firmthat is committed to providing a secure trading environment and securing users’ data.

It has several security measures in place likedata encryption to ensure that users’ personal information is not accidentally accessed by unauthorized parties.

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Thenumber one advantage of trading with prop firms is increased profitsdue to access to higher capital.

That said,the major disadvantages of prop firms are unfavorable profit sharing, restrictions on trading strategies,and the risk of being defrauded.

To choose the right prop firms you need to consider the following factors:

• Profit share
• Tradable instruments
• Available leverage
• Trading rules for challenges
• Minimum and maximum funding capital
• Evaluation fees