Skip to content
- Home
- /
- South Africa & Crypto
- /
- Prop Firms in South...
- /
- Best Instant funding Prop...
Best Instant funding Prop firms in South Africa 2024
Luis Clark
In this article, we review the best instant funding Forex prop trading firms in South Africa.
To come up with our list we got hands-on experience with the prop trading firms, analyzed user reviews on TrustPilot and other similar platforms, and studied expert opinions on each instant funding prop firm.
Best Instant funding Prop firms in South Africa: Our Opinion
That said, through our team’s direct experience and analysis we have chosen Instant Funding as the best Forex prop firm in South Africa for fast funding.
Instant Funding made it to number 1 for its quick payouts (7 days after your profit) and funding from day 1.
Instant Funding offers no challenge or verification phases in which you receive funding from day one.
However, this is with lower profit splits that you can scale as you get consistent profits.
That said, where Instant Funding does stand out from other instant funding prop trading firms is in its quick payouts which you become eligible for after 14 days and then 7 days subsequently.
The proprietary trading firm is partnered with ThinkMarkets as its regulated broker.
Key Features of Instant Funding
Smart Drawdown
Instant Funding unlike most forex prop firms offers a smart drawdown model that combines both static and trailing drawdowns.
This helps to reduce costs and boost profitability.
For example, the smart drawdown begins at 10% and remains static until you begin to profit before it moves.
Instant Funding Security
Instant Funding like most Forex prop firms requires that all users undergo its KYC verification process.
It also uses Secure Socket Layer certificates to verify itself to clients’ browsers and encrypts all data received via its website.
Other account security measures like two-factor authentication and password protection are available as well.
Pros
- No challenge or verification funding
- High margin leverage
- Smart Drawdown available
- Quick payouts
Cons
- High evaluation fees
- Non-refundable evaluation cost
City Traders Imperium: Best Instant Funding Prop Firm For High Funding Capital
The City Traders Imperium proprietary trading firm offers an instant funding account that allows you access to up to $4,000,000 in funded capital. There are no minimum days restrictions to pass and there is only one evaluation phase. You can get funded on the same day and get paid after 10 days of active trading.
City Traders Imperium uses a balanced-based Drawdown model which allows you to increase your Drawdown with any profit earned.
It supports overnight and weekend forex trading as well as news trading.
The Forex prop firm offers up to 100% profit share for the instant funding account.
City Traders Imperium offers a free challenge to professional and experienced traders interested in intraday prop trading and long-term strategies.
The free trial account offers you access to all the full capabilities of the Prop Firm’s products.
With the free account, you can check the spreads, trade execution speed, commission, and lot size calculations.
There are also no rules for the free account. This allows you to test your trading strategies freely without triggering any rule breach.
Unlike most proprietary trading firms, City Traders Imperium lets you hold your trades overnight or over the weekend as well as trade the news according to your strategy with no restrictions. You can also use any Forex trading style including hedging, discretionary trading, and use Expert Advisors with no limit.
The initial profit share starts at 80% for all traders but once you meet the criteria for City Traders Imperium’s Scaling plan, your prop trading account balance will be enhanced by 30% and your profit share upgraded to 90%. When you scale up three times, you will be rewarded with a 100% profit share.
Aside from the high-profit share, City Traders Imperium unlike other Forex prop firms will also offer you the chance to transition into a full-time trader and earn a monthly salary if you demonstrate the ability to consistently generate trade.
Key Features of City Traders Imperium
Direct Funding Account
City Traders Imperium Direct Funding Account allows you to get funded right away without undergoing any evaluation.
The account does not have any trading objectives for payouts and no time restrictions.
With the direct funding account, you pay a higher fee to skip the first phase of evaluation. This gives you access to a larger capital immediately.
There are no prop trading objectives to be achieved and you can get a payout at any time without restrictions.
Security of City Traders Imperium
City Traders Imperium is a secure prop firm that partners with a prestigious third-party institutional prime liquidity provider regulated in Cyprus.
The Forex Prop firm stores users’ information on secure servers and has strict security features and procedures to prevent users’ data from being accidentally lost or accessed by unauthorized parties.
It also has measures in place to tackle any suspected data breach. This includes notifying the user and any applicable regulator where necessary.
Pros
- Offers training in professional trading
- Expert advisers and algorithms are allowed under certain conditions
- High-profit splits
Cons
- It prohibits copy-trading
FundYourFx - Best Instant Funding Prop Firm for Refundable Registration Fee
This prop trading firm offers instant funding with no evaluation, providing immediate access to your trading account.
That said, FundYourFx made this best Forex prop firms list for offering refunds on the registration fee required to open an account.
Also, unlike a lot of other instant funding forex prop firms in South Africa, FundYourFx refunds your registration fees after you achieve a 10% profit thrice.
FundYourFx also offers weekly payouts and statistical results of your forex trading account activities plus detailed risk analysis.
The prop trading firm has been awarded the best Instant Funding Prop Firm in 2023 and best customer support in 2023.
Key Features of FundYourFx
Weekly Profit Payout
FundYourFx forex prop firm pays users 90% of all earnings directly after you hit a 10% profit and adhere to their trading rules. The payout is also automatic and occurs via your preferred payment method.
Security of FundYourFx
Like most Forex prop firms, FundYourFx does not hold or store users’ funds as it is not a broker. This means that there is no risk of loss of funds for the trader.
Also, the prop trading firm uses standard security measures to secure traders’ accounts such as passwords, two-factor authentication, and login notification.
Users also get a refund on their account registration fee after they’ve made a 10% profit 3 times.
Pros
- Offers a live account immediately
- Instant funding
- Registration fee refund
- High maximum funding amount
Cons
- Lot size restrictions
- Some users have complained about sudden account closures
FTUK: Best Free Instant Funding Prop Firm for Fast Profitable Scaling
Founded in February 2021, FTUK is an instant funding prop firm that offers fast profitable scaling.
FTUK’s instant funding program is designed for traders who want to receive instant funding on a live account without going through the evaluation process.
With this account, you can start earning from level 1 and you can withdraw anytime from level 2.
With the instant funding account, you can hold trades overnight or over the weekend.
To gain access to the Instant funding account, you need to be over 18 years old. You are also required to pay a one-time signup fee to secure your funding program. Upon completion of the signup process, you will receive your funding account details within an hour during business hours.
Unlike other proprietary trading firms, FTUK allows you to have up to a maximum of 3 active accounts simultaneously. There are no minimum trading day requirements. You can request for payout once you hit the milestone target.
Key Features of FTUK
Evaluation Program
FTUK offers an evaluation program for users who do not want the instant funding account.
Under the evaluation program, you need to pass a single-phase evaluation process where you get to show that you can manage large capital.
Just like the instant funding program, the funding amount for the evaluation program ranges from $14,000 to $90,000.
FTUK charges a low sign-up fee for the evaluation program with no time limits.
You can trade and hold positions overnight and over the weekend. It also allows you to copy trades from a non-FTUK account to a FTUK account. You cannot copy trades to multiple FTUK accounts.
Despite not having any time limits, you are expected to execute a trade at least every 30 days. Accounts that have been traded on but remain dormant for more than 30 days can be terminated.
FTUK Security
FTUK secures users’ personal information using Secure Socket Layer Encryption technology. It also uses other security measures and safeguards like firewall authentication systems (personal identification numbers and passwords) and access control mechanisms to prevent unauthorized access to its systems and users’ data.
Pros
- It offers up to $5,760,000 in Funding
- Supports overnight and weekend Forex trading
- No time limits
- Supports trade copying from non-FTUK accounts
Cons
- Low profit split
- Low leverage
| Profit Split | Max. Funded Capital | Account Fees | Trading Platforms | No. of Challenges | Tradable Instruments | EA Allowed | Maximum Leverage | Profit Target | |
|---|---|---|---|---|---|---|---|---|---|
| Instant Funding | 90/10% | $2,500,000 | From $79 to $3460 | MetaTrader 4 and MetaTrader 5 | N/A | Forex, cryptocurrency, metals, and indices | Yes | 1:100 | Up to 10% |
| FundYourFx | 90% | $2,000,000 | From $279 to $577 | MetaTrader 4 and MetaTrader 5 | N/A | Forex, cryptocurrency, commodities, and indices | Yes | 1:100 | 10% |
| City Traders Imperium | Up to 100% | $4,000,000 | From $299 to $5,999 | MetaTrader 4 and MetaTrader 5 | N/A | Forex, cryptocurrency, commodities, metals, CFDs, and indices | Yes | 1:10 | 9% |
| FTUK | 80% | $5,760,000 | From $200 to $1,200 | MetaTrader 4 and MetaTrader 5 | N/A | Forex, cryptocurrency, commodities, metals, CFDs, and indices | Yes | 1:100 | 10% |
What is a Prop Firm?
A prop firm is a financial institution that gives traders capital to trade in exchange for a profit split.
Prop firms may offer an evaluation process or instant funding.
If the prop firm requires evaluation traders will have to go through 2 to 3 challenge phases and if successful they’ll access trading capital.
Instant funding forex prop trading firms in South Africa, on the other hand, do not require evaluation and give users access to funding capital after signing up.
Advantages and Disadvantages of Trade with a Prop Firm
The advantage of forex trading with prop firms is access to higher capital which means increased profits. However, the disadvantage is the pressure involved where traders strive to satisfy all trading objectives and hit the target set by the prop firms.
How to Choose the Right Prop Firm?
To choose the right prop firm consider the following:
- Profit split percentage
- Profit target required
- Speed of payouts
- Size of maximum capital available
- Tradable instruments available
Final Thoughts
Use the aforementioned parameters to choose the best instant funding forex prop firm in South Africa.
The right option from this list will depend primarily on your specific reasons for using a prop firm.
FAQ
Most frequent questions and answers
Instant Funding and FundYourFx offer some of the fastest payouts in the industry. With both prop firms offering 7 days automatic payouts.
There are prop trading firms that offer free trials like E8 prop firm and others that refund your registration fee but there are no completely free prop firms.
Yes, most prop firms give you real money except for those that use demo accounts during the evaluation process.
To qualify for a prop firm you need to adhere to their trading rules, hit the profit target, and pay for the account you’re applying for.
We always try to provide the most accurate information available, and make sure our team follow through.
If you want to know more about our Crypto Exchanges Review Methodology follow the link below
Skrumble.com provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade, or sell any investment instruments or products, including but not limited to cryptocurrencies, or use any specific exchange. Please do not use this website as investment advice, financial advice, or legal advice, and each individual’s needs may vary from that of the author. Investing in financial instruments, including cryptocurrencies, carries a high risk and is not suitable for all investors. It is possible to lose the entire initial investment, so do not invest what you cannot afford to lose. We strongly advise conducting your own research before making any investment decisions. This post includes affiliate links with our partners who may compensate us.
To view our privacy policy read here.
