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The 5 Best Prop Firms in Kenya for 2024
Swen Keller
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This article lists the best prop firms in Kenya and covers their pros and cons, unique features, and security measures.
From our extensive testing of Forex prop trading firms, we found these best proprietary trading firms, analyzed user reviews of each one, and took into consideration expert opinion to build our list.
Best Prop Firm in Kenya: Our Opinion
We picked Fidelcrest as the best prop trading firm in Kenya as it offers the highest maximum capital of all options on the list and has a free trial for evaluation.
Fidelcrest made it to the top of our list of best Forex prop firms in Kenya for the high trading capital it offers to prop traders.
It offers funded traders up to €2,000,000 in trading capital.
Depending on the strategy used, Fidelcrest offers a high-profit split of 80% to 90%.
It supports the trading of over 175 financial instruments with a maximum leverage of 1:100.
Fidelcrest offers 2 evaluation phases with evaluation fees ranging between €999 to €3,499.
That said, Fidelcrest is not suitable for beginners as it has advanced trading features that will only benefit experienced traders.
Fidelcrest also has stricter trading rules when compared to other prop firms. It prohibits the use of Expert Advisors, bot trading, stop loss, and take profit for news trading.
Features
Pro Trader Program
This is a program designed for expert prop traders who have a stable strategy and excellent risk management skills.
The Pro Trader program is in 3 phases: Trading Challenge, Verification, and Fidelcrest Trader.
Fidelcrest also offers 2 types of Pro Trader accounts; Pro Trader Normal and Pro Trader Aggressive.
The start-up capital for the 2 trading account types varies.
Fidelcrest Security
Based on our team’s first-hand trials with this prop firm, we can confirm that Fidelcrest is a secure prop firm with several security measures to ensure a safe trading environment for users.
In line with international AML requirements, Fidelcrest has a strict KYC verification process.
All users are required to provide a valid photo ID and proof of residence to be able to use the platform.
Fidelcrest also stores users’ data in an encrypted database and securely destroys them when no longer needed.
Pros
- High trading capital
- Good customer support
- Offers a high-profit split
Cons
- Restrictive trading rules
- Prohibits the use of Expert Advisors
TopTier Trader - Best Kenyan Prop Trading Firm For High Affiliate Commissions
Top Tier Trader is a global prop firm available to Kenyan prop traders.
This prop firm made it to our list of the best proprietary trading firms in Kenya for the high affiliate commissions it offers to users who refer new traders to the platform.
Top Tier Trader offers different types of proprietary trading accounts and traders can receive up to $300,000 in trading funds.
Also, Top Tier Trader offers an industry average profit split of 80%. The profit split can be increased to 90% under certain conditions after trading for several months.
Top-Tier Trader offers a two-tiered challenge program: Tier 1 and Tier 2.
To pass the Tier 1 challenge, you need to have traded a minimum of 4 days, not violated any of the drawdown rules, and make at least 10% of the initial virtual balance.
The requirements for passing Tier 2 are similar, the only difference is that with Tier 2, you need to make at least 5% of the initial virtual balance.
Unlike most prop trading companies, Top-Tier trader allows funded traders to have up to 24 active trading accounts.
This is however dependent on the account size combination. Also, the maximum total initial funds in all accounts cannot exceed $600K.
Features
Top Tier Trader Affiliate Program
As stated earlier, Top-Tier Trader stands out from other proprietary trading firms for its high affiliate commissions.
Top-Tier trader affiliates earn between 5% to 20% commission for every referred trader that purchases a challenge account.
The higher the number of referrals that convert, the higher your affiliate commission.
Top-Tier Trader processes all affiliate payouts from the 1st to the 5th of each month.
Affiliate commissions are paid in USDT.
TopTier Trader Security
Top Tier is a secure prop firm with industry-standard security measures in place to ensure a secure trading environment.
Available security measures include the secure transmission of users’ information and encryption of personal information like credit card details with the Secure Sockets Layer protocol.
Pros
- High affiliate commissions
- High-profit splits
- Low trading restrictions
Cons
- Limited trading platforms
Topstep - Best Prop Firm for Kenyan Intermediate and Professional Futures Trading
Topstep is one of the best proprietary trading firms in Kenya for intermediate and professional traders interested in Futures trading.
Unlike most prop firms on this list, Topstep does not support margin, spot, or any other type of trading besides Futures.
It also offers crypto futures, which makes it the best prop firm for Kenyan traders interested in crypto trading.
Topstep offers a variety of trading platforms including NinjaTrader, TradingView, Bookmap, T4, Quantower, Trade Navigator, etc
Unlike most prop firms, Topstep offers an initial profit split of 100% when you get $10,000, after which it is reduced to 90%.
Features
Coach T
This is a personalized, automated, real-time extension of Topstep’s performance coaches.
It assists traders in their trading journey and also helps to build a routine for the trading day.
Coach T is available in the Express Funded Account and Trading Combine account.
Coach T offers various features including a Practice Account, Analytics, Alerts, and TraderIQ for setting goals that can be scored against a personalized trading plan.
Topstep Security
Our first-hand investigation into this prop firm demonstrated that Topstep is a secure prop firm registered in Delaware.
Topstep protects users’ information using several security measures.
It also does not store users’ data longer than required.
Aside from the protection of users’ information, it also has measures in place to ensure that users comply with the rules of the platform.
Depending on the severity of the violation, defaulting traders can be banned from the platform.
Pros
- Suitable for intermediate and professional Futures prop traders
- High-profit split
- It supports crypto Futures trading
Cons
- It only supports Futures trading
- Confusing fee structure
SurgeTrader - Best One-Step Evaluation Prop Firm in Kenya
SurgeTrader is an award-winning prop firm that aims to accelerate trader funding.
Unlike most top prop trading firms, SurgeTrader only requirs a one-step evaluation.
Once you pass the evaluation, you become a funded trader on SurgeTrader.
SurgeTrader offers different account types to funded traders, Account sizes range from $25,000 to $1,000,000.
Like most prop firms, SurgeTrader offers an initial profit share of 75%, this can be increased to 90% with an add-on purchase.
It also offers a standard leverage of 10:1 which can be increased up to 20:1.
Features
SurgeTrader Affiliate Program
The SurgeTrader affiliate program offers an industry average commission to affiliates.
Affiliates earn a 10% commission on all new and existing traders.
Unlike some affiliate programs, SurgeTrader provides all the marketing tools needed by affiliates to market the platform to their audience.
Available marketing tools include email templates, videos, a branding guide, social media posts, etc.
SurgeTrader Security
SurgeTrader is a secure prop firm that is backed by significant venture capital through its partner Valo Holdings.
It also manages all traders’ accounts through a regulated broker.
SurgeTrader securely stores users’ data and securely destroys them when they are no longer needed.
Pros
- User-friendly interface
- One evaluation phase
- Wide range of tradable assets
Cons
- Restrictive trading conditions
- High cost
FTMO - Best Prop Firm in Kenya with Loose Trading Restrictions
FTMO is one of the best proprietary trading firms globally with low trading restrictions.
It does not restrict trading strategies, news trading, or the use of Expert Advisors.
FTMO offers funded traders up to $400,000 in trading capital and up to 90% profit split.
FTMO supports trading on cTrader, MetaTrader 4, and MetaTrader 5.
This prop firm offers 2 challenges with evaluation fees ranging between €155 to €1,080.
The profit target for the first step of evaluation is $1,000 and $500.
Features
FTMO Trading Apps
The FTMO trading apps give you access to different trading apps and tools that help to give traders a smooth trading experience.
Available trading apps on FTMO include Statistical App, Equity Simulator, Trading Journal, Account Analysis, Mentor App, and Account Metrix.
FTMO Security
FTMO is a registered firm in the Czech Republic.
Just like most prop firms, FTMO is not regulated because it does not hold customers’ funds.
The prop firm has technical and organizational measures in place to ensure the security of user’s data against disclosure, unauthorized access, and misuse.
Pros
- Beginner-friendly
- High-profit split
- Very relaxed trading rules
Cons
- Steep profit target for the first evaluation phase
| PROP FIRM | PROFIT SPLITS | MAX. FUNDED CAPITAL | ACCOUNT FEES | TRADING PLATFORMS | N.OF CHALLENGES | TRADABLE INSTRUMENTS | EA ALLOWED | MAX. LEVERAGE | PROFIT TARGET |
|---|---|---|---|---|---|---|---|---|---|
| Fidelcrest | Between 80% to 90% | Up to €2,000,000 | €999 to €3,499 | Fidelcrest trading platform | 2 | Forex, Crypto, Commodities, and Indices | No | 1:100 | 10% |
| TopTier Trader | Up to 90% | Up to €2,000,000 | $130 to $1,399 | MT4, MT5 | 2 | Forex, indices, commodities, and crypto | Yes, but with limited use | 1:100 | Up to 10% (tier 1) |
| Topstep | 100% till you get $10,000 then 90/10 | 150,000 | $49 per month to $149 monthly | NinjaTrader, Quantower | 1 (Trading Combine) | CME Agricultural Futures, CME CBOT Agricultural Futures, CME CBOT Financial/Interest Rate Futures, CME Equity Futures, CME Foreign Exchange Futures, CME CBOT Equity Futures | No | 1:100 | $3,000 to $9,000 |
| SurgeTrader | Up to 90% | Up to $1,000,000 | $250 to $6,500 | DXTrade, Match-Trade | 1 per audition | Forex, select equity indices, stocks, oil, metals and crypto | Yes, but with limited use | 1:20 | 10% |
| FTMO | 90% | $400,000 | From €155 to €1080 | MT4, MT5, cTrader, DX Trade | 2 FTMO challenges (Step 1 evaluation and Step 2 Verification) | Forex, indices, stocks, commodities, crypto, metals CFD, futures, cash CFD, equities CFD, and custom instruments | Yes | 1:100 | $1000 (Step 1) and $500 (Step 2) |
What is a Prop Trading Firm?
A prop firm or proprietary trading firm is a company that provides traders with the capital to trade various financial assets such as Forex, Commodities, Futures, Derivatives, Stocks, Digital Currencies, etc.
Proprietary trading firms typically test a trader’s skills before funding them. However, there are instant funding proprietary trading firms that provide capital without evaluation.
What is a Prop Trading Firm Challenge and Tips to Pass it?
A prop trading challenge is an evaluation process (usually 2 steps) in which traders seeking funding from a prop firm to trade various assets and financial markets are required to hit particular objectives and profit targets set by the prop firm.
In addition, in a proprietary trading firm challenge, traders are given a set of rules and capital by the company and they must showcase their trading skills within those parameters.
The primary goal of these challenges is to discover skilled traders in the financial markets and give capital to them if they satisfy the firm’s specific requirements.
That said, Forex prop trading firms’ challenges differ in structure but they typically involve registering, a set trading period, performance evaluation, and access to a funded trading account alongside a profit-sharing model for successful traders.
To pass a proprietary trading firm challenge you need to adhere to the following tips:
Read and Understand the Rules of the Challenge
The first tip to successfully passing a prop firm challenge is to ensure you understand the specific rules and requirements of the evaluation process you are participating in.
This involves paying close attention to the trading objectives, profit targets, and risk parameters set by the proprietary trading firm.
Use a Good Trading Strategy
Some proprietary trading firms have accepted trading strategies and techniques they do not approve of.
So ensure that you use a well-defined strategy that aligns with the prop firm’s challenge objectives and requirements.
In general, your strategy should include obvious entry and exit parameters as well as clear risk management rules and a laid-out plan for particular market scenarios.
Test Your Strategy
You need to practice your trading strategy using demo accounts.
This is crucial in refining your strategy and creating the needed confidence during evaluation.
Journal Your Trades
As you practice your trading strategy using a simulated account you need to maintain a detailed journal of your trades that documents the reasons you entered and exited a position as well as trade size and outcomes.
Regularly go over your journal as your trades increase to identify patterns and consistencies.
Ensure to highlight areas for improvement.
Start the Challenge Conservatively
When you start the prop firm’s challenge process you would want to begin slowly and prioritize consistency over large gains.
This will show proper risk management and will enable you to gradually increase your lot size.
Review Each Challenge Experience
Every prop firm challenge is an opportunity to gain valuable insights into the effectiveness of your trading strategy irrespective of the outcome.
So go over the results and use the lessons learned for the next challenge.
Advantages and Disadvantages of Trade with a Prop Firm
Advantages of Trading with a Proprietary Trading Platform
- Increase Profitability: The primary advantage of a prop firm is that it gives traders access to larger capital which means increased profit on successful trades.
Traders just starting their career in the industry without large funding can easily start earning big profits once they begin managing larger capitals with industry average profit-sharing models. - Numerous Proprietary Trading Firms to Choose From: The prop trading industry is filled with a lot of prop trading firms as options for traders to choose from.
Traders can access proprietary trading firms with instant funding, 1-step Challenge, 2-step Challenges, etc.
This allows you to choose prop trading firms that align with your desired needs.
Disadvantages of Trading with a Proprietary Trading Platform
May be Difficult to Reach Profit Targets: The primary objective of most proprietary trading firms is that you must hit a set profit target in a specific timeframe.
So you may make profits when trading with proprietary trading firms but they may not be pleased with your results because you didn’t hit the profit target.
This puts a lot of pressure on traders and may affect performance in some instances.Trading Restrictions: If you are a great trader with already proven strategies it may be difficult to adapt to a prop firm’s stringent rules for trading.
This would mean that you would need to come up with a new strategy or fine-tune your existing technique to align with the proprietary trading firm’s requirements.
How to Choose the Right Prop Firm?
Choosing the right proprietary trading firm depends on individual preferences, trading objectives, and the circumstances surrounding the decision.
That said, there are stable factors to consider including the profit split offered (this is typically 90% to 10%), available financial instruments, evaluation fees charged, and the trading rules set by the prop trading firm.
Final Thoughts
In conclusion, the article provides a comprehensive analysis of the best proprietary trading firms available to Kenyan traders. It highlights Fidelcrest as the leading choice due to its high trading capital and favorable conditions for experienced traders.
Additionally, other firms such as Top Tier Trader, Topstep, SurgeTrader, and FTMO each offer unique advantages that cater to different trading styles and requirements, from high affiliate commissions to flexible trading restrictions. Whether seeking high capital, generous profit shares, or fewer trading restrictions, Kenyan traders have several top-notch prop firms to consider as they aim to enhance their trading careers.
If, instead, you want to trade with your own capital, there are several option for Kenya, check them here.
FAQ
Most frequent questions and answers
The best prop firm largely depends on your individual preferences and needs. For example, you may want a prop trading firm with loose trading restrictions like FTMO or one with convenient payouts like TopTier Trader depending on your need per time.
However, Fidelcrest stands out in general as the best proprietary trading firm for traders in Kenya as it offers one of the highest capital to successful traders in the industry.
Fidelcrest is arguably better than FTMO as it offers higher maximum funding capital than the latter and it has a free trial for its evaluation process.
Yes, there are many prop trading firms available in Kenya, some of which include Fidelcrest, SurgeTrader, TopTier Trader, and FTMO.
Proprietary trading firms or prop trading firms are businesses that provide trading capital to skilled traders in exchange for a profit split.
We always try to provide the most accurate information available, and make sure our team follow through.
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