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I’m reluctant to call these prop firms, so I prefer to call them evaluation companies for various reasons. I’ve had some limited experience with these type of firms in the past – even funded by two of them. But it’s been a while since last time I looked into them.
Rationally, my preference have been the firms that actually set up a funded account for you as that does not introduce any conflict of interest between you and the firm (if you’re in a simulator account a profit for you is a net loss for the firm).
So, curious if anyone can make any recommendations in 2023? It would be preferrable if you had actual experience with said firm including withdrawing money.
The last time I looked into it, it seemed like E2T was the best choice for various reasons, but there might be better options these days.
PS: I’m primarily interested in futures, but feel free to recommend other firms too for the benefit of everyone reading.
I think if you search through the forum and others, plenty of people have had their fair share of problems with both E2T and TopStep, so not sure if there's truly no conflict of interest.
Personally, I prefer Apex because of how big they are, how many new people they attract, and how new people love maxing 20 accts. They've never not paid me out on time and without issue.
I think the #1 factor to consider is the revenue of the prop firm, to ensure they have good inflows for payouts. For example EarnMax is new and small so not surprised they're delaying payouts.
Topstep handicap you once you pass your eval. They make you start with only a couple of contracts, and even if you trade micros it's not 20 it's 2 micros! You'd think that it'd be 10 to 1 minis to micros but they don't do it.
Apex seems to be the best, although they have a huge list of reasons buried in their terms about not trading different sizes, not trading the market open, not trading different plans etc. So they could feasibly deny you a payout for any reason. They also remove trades that don't fit into your plan(according to their own video), so you might have to justify why you took a trade if it's a large winner.
Tradeday were one of the best, but got rid of one of the better reasons to go with them - they used to have no fee when you passed but have now added a fee. If you go the sim route with them you can only earn $5k before they put you to live, meaning you'll have to pay professional market fees of $130+ a month.
I'm still with Apex and like it the most! Although I am also copy trading to multiple other prop firms just in case too, including Earn2Trade and TopStep. It's better to diversify prop firms for payout risk.