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Best Prop Firms in South Africa 2024
Luis Clark
Best for Adequate Educational Resources
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Best for Advanced Proprietary Traders
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Best for Quick Access to Trading Capital
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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 firms in 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 firm offers one of the most relaxed trading rules and low-profit targets catering to both beginners and advanced traders.
This Forex prop firm stands out from other prop firms for its simple trading rules which 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 has a low profit target which gets up to 8%. This is 2% lower than the industry average for Forex prop firms in South Africa.
Key Features of True Forex Funds
80% Profit Split
True Forex Funds offers a fixed profit split of 80% to Forex 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.
No Time Limit Evaluation
Unlike most Forex prop trading firms, True Forex Funds does not place a time limit on the required trading period for the evaluation of its 2 phase challenge.
It also doesn’t require minimum trading days for the same challenge as well.
Security
Like other proprietary trading firms, True Forex Funds partners with licensed and regulated brokers. It adheres to local Anti Money Laundering laws by conducting client verification from time to time.
The forex prop firm also carries out regular monitoring of client transactions to detect unusual behavior.
Pros
- Relaxed trading rules
- Low-profit target
- No time limit for a particular evaluation
- Low evaluation fee
Cons
- Fixed profit split
- Only supports MetaTrader 4 and 5
Fidelcrest: Best South African Prop Firm For Manual Trading
Fidelcrest is a Cyprus-based Prop Firm that gives advanced prop traders access to large trading capital (up to $2,000,000).
Unlike other competing Forex Prop Firms, Fidelcrest has tight trading rules and particularly frowns 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, Fidelcrest supports manual copy trading, swing trades, and weekend and overnight trades.
Key Features of Fidelcrest
Demo Trading
The Fidelcrest demo account allows you to test your trading strategies and trade using virtual funds under predefined rules during the evaluation period. The demo account supports all instruments and transactions supported on the Fidelcrest platform.
It is also subject 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.
Security
Fidelcrest is a safe 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 verification on all users in line with international AML requirements.
It also ensures the safety of users’ private data through the use of encrypted databases.
Pros
- Suitable for experienced traders
- High trading capital
- It offers a demo account
Cons
- Strict trading rules
FundedNext - Best Forex Prop Firm for Adequate Educational Resources
FundedNext is one of those Forex prop firms that struggles to stand out in the industry due to its limited selection of instruments.
However, it made it in our list of the best Forex prop firms in South Africa for its vast educational resource center that offers courses on various subjects like trading psychology and basics.
FundedNext also charges one of the most affordable evaluation fees when compared to other prop firms in the industry starting at $49.
Key Features of FundedNext
Performance Based Profit Split
FundedNext offers a 15% profit split to users during the challenge phases then allows funded traders to increase their profit share by maintaining consistent positive trading performance.
FundedNext Economic Calendar
This forex prop firm offers an economic calendar that contains previous and future global news that can affect the financial markets.
The information provided by the prop firm’s economic calendar aids traders in making informed trading decisions to avoid huge losses.
Security
FundedNext is registered as a proprietary trading firm and utilizes machine learning and algorithms to detect fraud and 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 to provide identity documents that prove their new location.
Pros
- Scalable profit split
- Large educational resources center
- Low evaluation fees
Cons
- Low initial profit split
- Limited selection of tradable instruments (no crypto)
The Funded Trader - Best Prop Firm for Advanced Proprietary Traders
This prop firm made it to our list of the best Forex prop firms for 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 Trader supports Forex, commodities, indices, and crypto (BTC, BCH, ETH, & LTC).
Key Features of The Funded Trader
Kings Program
The Funded Trader Kings program is for advanced proprietary traders who have demonstrated consistent profits on the prop firm.
It offers the opportunity for traders to access capital of up to $1,500,000 to increase their profit share.
Monthly Competitions
This forex prop firm runs monthly competition programs that traders can participate in for access to rewards such as increased virtual funds and cash prices.
Security
The Funded Trader stores and encrypts user data preventing them from unauthorized access or modifications. It also offers the usual account security measures such as passwords and two-factor authentication.
Pros
- High trading capital available
- Offers cryptocurrency instruments
- Convenient user experience
Cons
- Not for beginner traders
- No educational resources available
Funded Trading Plus - Best Prop Firm for Copy Trading
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 was created 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 offers different account sizes starting at $15,000 to $250,000. You can scale up to $2,500,00.
The Funded Trading Plus prop trading firm does 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 are suspended.
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.
Key Features of Funded Trading Plus
Copy trading
Unlike most prop trading firms, Funded Trading Plus allows you to copy trade one of your accounts across to one of FT+ accounts.
The Prop firm does 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).
Advanced Trader Program Accounts
This account is designed 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.
The initial profit split starts at 80% but it can be increased to 90% when you scale your account.
Security
Funded Trading Plus is a safe Proprietary trading firm, registered in the United Kingdom. The prop firm integrates 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.
All personal data are stored in encrypted form in secure manual record-keeping systems to prevent loss, misuse, unauthorized access, and alteration of users’ data.
Pros
- High simulated profit splits
- No minimum simulated trading days
- It supports the use of Expert advisors
- Supports copy trading
- Low withdrawal minimum
Cons
- Does not support copying to multiple FT+ accounts
SurgeTrader: Best Prop Firm for One-Step Evaluation
Based in Naples, Florida, SurgeTrader is a well-funded proprietary trading firm with a singular mission to accelerate trader funding and help outstanding traders capitalize on their success.
The prop firm supports 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 prices start from $25,000 to $1,000,000.
Standard profit share starts at 75% but can be increased to 90% with add-on purchases.
The standard leverage of 10:1 can also be increased up to 20:1.
Key Feature of SurgeTrader
SurgeTrader Affiliate Program
Like most proprietary trading firms, Surge Trader runs an affiliate program. the SurgeTrader affiliate program allows South African traders to earn commissions by referring users to the platform.
SurgeTrader pays a 10% affiliate commission on all 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 tools needed to help your affiliate marketing.
This includes 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.
Security
SurgeTrader is a registered and well-funded proprietary trading firm backed by significant venture capital through its partner Valo Holdings.
All traders’ accounts are managed through ThinkMarkets, a regulated broker with head office in Australia.
SurgeTrader does not collect sensitive user information like social security numbers. It has several security measures in place to ensure the security of user’s data at all time. Users’ data are only retained for as long as is necessary. All user data that are no longer needed are securely deleted.
Pros
- Easy to use
- High-profit splits
- Large range of assets
- Only one evaluation stage
Cons
- Tough conditions
- High cost
Blue Guardian: Best Prop Firm in South Africa for Risk Management
Headquartered in England, Blue Guardian was originally designed to be a Forex signal provider and an educational institute but was rebranded in 2021 to a Prop Trading firm.
Blue Guardian stands out amongst other prop firms for its trade protection features.
It supports 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.
Key Features of Blue Guardian
Guardian Protector
This is a built-in equity protector that helps prop traders manage their risk and 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 also block any further trades from being made for 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.
Security
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 accounts and the Blue Guardian platform.
Users are also responsible for the maintenance of the confidentiality of their accounts and other security information.
Pros
- It supports copy-trading
- Supports the use of Expert Advisors
- Relaxed trading rules
Cons
- Top Tier Trader: Best Prop Firm in South Africa for High Affiliate Commissions
- Withdrawals are restricted to twice a week
- Only supports MetaTrader 4
Top Tier Trader: Best Prop Firm in South Africa for High Affiliate Commissions
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 to receive up to $300,000.
When compared to other prop firms in South Africa, Top Tier Trader provides high affiliate commissions for referring new traders and the initial fee is also refundable.
It also offers an average profit split of 80% which can be increased to 90% after several months under certain conditions.
The Top Tier Trader platform is available on mobile devices and accessible to both iOS and Android users. This allows you to access your trading account and trade on the go at any time.
Key Features of Top Tier Trader
With the Top Tier Trader affiliate program, you can earn between 5% to 20% commission for every referral that purchases a challenge account.
The percentage of commission paid is dependent on the number of referrals that make purchases on the platform. Affiliate payments are paid to the USDT (ERC-20) address specified in the affiliate dashboard.
Security
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 encrypted using the Secure Sockets Layer (SSL) protocol.
Pros
- Low trading restrictions
- High-profit splits
- Available on mobile
Cons
- No balance scaling on regular accounts
- Limited trading platforms
FTMO - Best Forex Prop Firm for Multiple Trading Platforms
Like True Forex Funds, FTMO, founded in 2015 offers loose trading restrictions but what got the prop firm on this list is its support for 3 trading platforms; MetaTrader 4, MetaTrader 5, and cTrader, as most prop trading firms just offer MetaTrader.
The prop firm also supports a wide range of tradable instruments including Forex, indices, stocks, commodities, crypto, metals CFD, futures, cash CFD, equities CFD, and custom instruments.
Key Features of FTMO
Monetary Profit Target
FTMO, unlike most prop firms, in its challenge phase gives traders particular amounts to hit not 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.
FTMO Trading Journal
The FTMO trading journal is a tool created by the prop trading firm to automatically keep records of all results of your trades.
You can even assign screenshots to be taken of your entry and exit of all trades.
This helps you to discover flaws in your trading style or habits and improve on them.
Security
FTMO isn’t regulated by any financial body because like most prop firms it does not process or hold users’ funds. That said, it encrypts user personal data and places several technical measures to prevent unauthorized access.
There is also the usual two-factor authentication feature used to secure accounts.
Pros
- Offers up to 90/10% profit split
- Simple trading rules
- There is no minimum period to complete the evaluation process
- Supports 3 trading platforms
Cons
- Users in the United States cannot use cTrader
- High evaluation fees
Instant Funding: Best Prop Firm in South Africa for Quick Access to Trading Capital
Launched in June 2022, Instant Funding offers evaluation-free funding.
Instant Funding is also one of the only prop firms to have no-limit accounts. It offers trading services via Think Markets. Like most proprietary trading firms, it supports MetaTrader 4 and MetaTrader 5.
Instant Funding offers a wide range of trading instruments and tight spreads.
Key Features of Instant Funding
Instant Funding Partners Program
Instant Funding offers 3 different types of partner programs: Affiliate program, the I. A Program, and the Partner program.
The affiliate program allows you to refer traders to the prop firm and earn 12.5% in commissions for 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 to refer businesses to Instant Funding. This program is suitable for trading communities, account management companies, and similar businesses.
Security
Instant Funding is a registered proprietary trading firm that is committed to providing a secure trading environment and securing users’ data.
It has several security measures in place like data encryption to ensure that users’ personal information is not accidentally accessed by unauthorized parties.
Pros
- Quick access to trading capital
- No limit phases
- It supports Expert Advisors
Cons
- Restrictive drawdown rules in certain accounts
| Prop Firms | Profit Split | Max. Funded Capital | Evaluation Fees | Trading Platforms | No. of Challenges | Tradable Instruments | EA Allowed | Maximum Leverage | Profit Target |
|---|---|---|---|---|---|---|---|---|---|
| FundedNext | 15% during the assessment but can be scaled to 90% depending on your performance | $200,000 | $49 to $999 | MetaTrader 4 and MetaTrader 5 | 6 | Forex, commodities, and indices | Yes | 1:100 | Total of 15% for 2 phases |
| FTMO | Up to 90%/10% | $400,000 | From €155 to €1080 | MetaTrader 4, MetaTrader 5, cTrader | 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) |
| True Forex Funds | 80%/20% | $400,000 | €89 to €998 | MetaTrader 4 and MetaTrader 5 | 2 Phases | Forex, indices, precious metals, energies, cryptocurrencies, and stocks | Yes | 1:100 | Up to 10% |
| The Funded Trader | 90%/10% | $400,000 (scale up to $1,500,000) | $1869 | Trading Platforms 4 and 5 | 2 (Phase 1 and Phase 2) | Forex, commodities, indices, and crypto (BTC, BCH, ETH, & LTC) | Yes | 1:100 | $32,000 (phase 1) and $20,000 (phase 2) |
| Blue Guardian | 85% | $200,000 | From $87 to $947 refundable fee | MetaTrader 4 and MetaTrader 5 | 2 phases | Forex, gold and commodities, crypto, and indices | Yes | 1:100 | 8% (phase 1) and 4% (phase 2) |
| Funded Trading Plus | Between 70% to 90% | Up to $200,000 | $119 to $4500 | MetaTrader 4 and 5 | 2 (Phase 1 and Phase 2) | Forex, indices, commodities, and crypto | Yes | 1:100 | N/A |
| Fidelcrest | Between 80% to 90% | Up to €2,000,000 | €999 to €3499 | Fidelcrest trading platform | 2 (Phase 1 and Phase 2) | Forex, indices, metals, commodities, and stocks | No | 1:100 | 10% |
| TopTier Trader | 90% | Up to $2,000,000 | $130 to $1399 | MetaTrader 4 and 5 | 2 (Tier 1 and Tier 2) | Forex, indices, commodities, and crypto | Yes but with limited use | 1:100 | Up to 10% (tier 1) |
| SurgeTrader | 90% | Up to $1,000,000 | $250 to $6500 | MetaTrader 4 and 5 | 1 per audition | Forex, indices, stocks, oil, metals and crypto | Yes but with limited use | 20:1 | 10% |
| Instant Funding | 90%/10% | $2,500,00 | From $79 to $3460 | MetaTrader 4 and MetaTrader 5 | 3 phases | Forex, cryptocurrency, metals, and indices | Yes | 1:100 | Up to 10% |
What is a Prop Firm?
A proprietary trading firm or prop firm is a financial company that gives traders of Forex, commodities, stocks, cryptocurrencies, etc. access to capital to trade and make a profit for both the company and themselves.
Advantages and Disadvantages of Trade with a Prop Firm
The number one advantage of trading with prop firms is increased profits due 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.
How to Choose the Right Prop Firm?
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
Final Thoughts
Our list of the top prop firms in South Africa was built primarily via our first-hand experience with each platform to help make your decision easier. So to choose the right option select the prop firm that offers the “How to Choose the Right Prop Firm” parameters (evaluation fees, max funding, etc.) favorable to your particular needs.
FAQ
Most frequent questions and answers
Ref Wayne, though not the richest, is arguably the most successful Forex trader in South Africa.
Currently, Jabulani Ngcobo is the richest Forex trader in South Africa.
Yes, you can make a living trading for prop firms as long as you are a skilled trader able to make consistent profits.
No, trading Forex via prop firms and brokers is legal in South Africa as long as it doesn’t involve money laundering.
We always try to provide the most accurate information available, and make sure our team follow through.
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