5 Great Prop Firms to Watch in 2023 (+ Promo Codes)

5 Great Prop Firms to Watch in 2023 (+ Promo Codes)

2022 Was a big year for the prop firm industry, seeing a record number of new prop firms popping up as well as previous ones growing rapidly.

Conversely, there has been a number that has closed or been exposed as scams. Therefore, it’s more important than ever for traders to choose reputable and reliable firms.

In this article, we’re going to look at some of the new firms that have built a strong presence in the industry by providing excellent service to traders.

Number 5 – Stocknet Institute

Stocknet Institute

Based out of Newcastle, UK, these guys have built a fantastic reputation as a legitimate firm. This firm has an impressive TrustPilot rating as well as great feedback in the Prop Traders Club community.

Stocknet Institute focuses solely on instant funding accounts. They also offer a fantastic scaling program to reward their profitable traders.

Here are some common reasons people choose this firm:

  • Great Support – Reviews often praise the fast, friendly and professional support offered by this firm.
  • Weekly Payouts – You can withdraw your profits every Friday (also every time you scale).
  • Fast Scaling – Double your capital at every 10% profit, all the way to $1.28 million.

Number 4 – Alpha Capital Group

Alpha Capital Group

Another UK-based firm that has grown rapidly during 2022 is Alpha Capital Group. This firm has a great team behind them who have vast experience in the industry.

ACG put a lot of work into providing the best possible trading environment and has recently upgraded its front-end dashboard with some amazing features.

These points coupled with some of the lowest profit targets are likely to see this firm grow rapidly in 2023. Here are some pros of this firm:

  • Zero Commissions – All instruments are provided with zero commissions and very reasonable spreads.
  • Amazing Dashboard – One of the best dashboards we’re seen so far. It includes some great analytical tools as well as a customizable trade journal.
  • Free Monthly Trading Competition – Compete to earn a free challenge account!

Number 3 – The Funded Trader

This firm has made some massive improvements to its services in the past year. With a fresh and vibrant feel and a strong community of traders, this prop firm will only get better in 2023.

2022 Saw the launch of the “Royal Challenge” along with various improvements to their existing challenges.

It’s also worth noting, this firm has seen some massive wins by its traders including a single payout of $203,000! This proves that the company has the financial stability to grow and provides traders with the peace of mind that their profits will be paid out without fail.

Some points on this firm:

  • Regular Promotions – Keep an eye out on their site and socials for great promotions.
  • Free Monthly Competition – This firm holds one of the largest free trading competitions with vast amounts of prizes.
  • Strong Community – Besides their active discord, this firm has even flown some of its traders out to Vegas for a “business weekend”!

Number 2 – FundedNext

Launched in March 2022 this firm has already amassed a huge following. With offices across the globe and an already successful parent company, this firm is certainly a safe option.

FundedNext offers two types of accounts with their own rules and targets. The Express account has no time limit and offers consistency and non-consistency options.

The Evaluation account is the more typical two-phase challenge. Both accounts benefit from a 15% share of the profits during the challenge, which is why many traders choose this firm.

Some perks of this firm are:

  • 15% Profit share from demo accounts
  • Up to 90% profit share
  • Low commissions and fantastic spreads
  • Regular Promotions

Number 1 – MyFundedFX

Opening their doors in June 2022, this is one of the newer firms on the list. That said, in their first 6 months of trading, they have paid out a massive $700,000 to their members.

The team at MyFundedFX have proved they have what it takes to provide longevity in the industry. Some perks of this firm are:

  • Choice of 1-step or 2-step challenges
  • Regular Promotions
  • Active Discord Server
  • Fair Prices and Fair Rules
  • Monthly Trading Competition.

In a Q&A the CEO Matt Leech mentions some exciting prospects for 2023 including an instant funding option. Another possible addition brought up was the possibility of a fee-free program, allowing traders to prove their ability without paying an up-front fee.

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