Page Summary
This guide helps users to compare prop firms to find the best forex funding accounts in the UAE. Funded trading is gaining popularity in UAE as it allows forex traders to trade with foreign capital of forex-funded companies (proprietary firms). In other words, traders can trade without their own capital investments in exchange for a share of their profits with the funding company (capital provider). However, with various proprietary firms and private investors in UAE offering funded accounts, it is hard to select the ideal option for individual needs.
To help beginners and advanced traders make the right choice, the services of prop companies have been assessed considering: the range of forex trading instruments, profit split rates, drawdown rules, trading style restrictions, funding terms, risk management tools, and fees.
This guide compares 33 prop firms for users to review and find the ideal forex-funded account for their needs. To help them make an informed decision, a list of the best forex funded accounts in the UAE is shared below, followed by in-depth reviews and comparisons.
Best Forex Funded Accounts in UAE
- FTMO – Best Funded Account Overall
- SurgeTrader – Fastest Evaluation Process
- Fidelcrest – Great Choice of Trading Platforms
- MyForexFunds – Best Trading Rules
- The 5%ers – Best for Trading Education
Top 5 Forex Funded Accounts in UAE Reviewed
Proprietary firms with the best rated forex funded accounts in UAE are reviewed below.
1. FTMO
FTMO is a proprietary trading firm founded in 2015. It allows verified users to trade with up to $200,000 capital and earn up to 80% of the generated profit. The profit split ratio can be even increased to 90/10 via the platform’s Scaling Plan.
FTMO has a wide range of trading platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader. The FTMO platforms allow users to trade on 600 financial instruments, including ten major forex pairs, indices, crypto, and commodities.
FTMO has a 5% maximum drawdown rule across all account types. This prohibits the sum of all positions of a trader from exceeding 5% loss (closed+open and taken from the original account starting size).
FTMO traders can use various trading strategies, including scalping and hedging. However, the proprietary trading firm limits trading risks at 2% of trading capital per trade and trading around news publications and important events.
FTMO charges a program tuition fee between $155 to $1,000, depending on the account type. Users can access a free trial and a demo account option to backtest their trading strategies.
FTMO’s customer service is available via email, live chat, and WhatsApp.
FTMO’s Forex Funded Account Features are listed below.
- Availability of 10 major forex pairs and a wide range of other assets
- Access to a wide range of forex trading platforms including MT4, MT5, and cTrader
- Low tuition fees without any hidden charges or fees
- Free trial and demo account availability
- Allowance of different trading styles including scalping, hedging, day trading, swing trading, and other trading techniques
- Multiple technical, fundamental, and educational FTMO apps available
- Excellent customer support
- Broad range of available accounts (from $10k to $200k)
- Wide range of trading education for beginners
2. SurgeTrader
SurgeTrader is a proprietary trading firm founded in 2021. They allow users to trade with up to $1 million in capital, and earn up to 90% of generated profits. SurgeTrader does not require any verification from its users to start trading.
SurgeTrader users can trade on over 360 financial instruments, including 45 forex pairs, stocks, and cryptocurrencies. SurgeTrader’s list of trading platforms includes MetaTrader 4, MetaTrader 5, TradingView, and FlashTrader.
SurgeTrader’s trading rules and limitations are listed below.
- 8% maximum drawdown (the drawdown limit is trailing, meaning that after 8% profit, the drawdown rule becomes absolute, and users are allowed to drawdown back to their account balance starting size)
- 5% maximum daily loss
- All opened positions must have a guaranteed stop-loss.
- The maximum number of open positions must always be below 1/10th of their account value.
SurgeTrader allows users to trade on a variety of trading styles, including scalping, hedging, and day trading. They also allow overnight positions. However, users are prohibited from opening positions on share CFDs during and around important news publications.
SurgeTrader’s one-time tuition fees are listed in the table below.
| Account types | $25,000 | $50,000 | $100,000 | $250,000 | $500,000 | $1,000,000 |
| Tuition fees | $250 | $400 | $700 | $1,800 | $3,500 | $6,500 |
SurgeTrader’s customer service is available via email, live chat, and by phone.
SurgeTrader’s Forex Funded Account Features are listed below.
- Eightcap manages all trading accounts
- Traders can use the same account as in the evaluations process
- Maximum leverage of up to 10:1
- All trades require a stop-loss.
- Tight spreads (from 1 point) and low commissions ($5.5)
- No minimal daily trading requirements
- Access to 3-5 daily trading ideas
- Easy withdrawals
3. Fidelcrest
Fidelcrest is a proprietary trading firm founded in 2018. They allow users to manage up to $2,000,000 in capital and earn up to 90% of generated profits. Fidelcrest’s Scaling Plan allows traders to receive an additional 25% capital every three months on achieved minimum profit targets of 15%. Fidelcrest users must go through a complex Trading Challenge and Verification process to get verified as a funded trader.
Once verified, Fidelcrest users can trade on over 1,000 financial instruments, including 40 forex pairs and major cryptocurrencies (Bitcoin, Litecoin, Ethereum). Additionally, users can trade with up to 100:1 leverage.
Trading platforms available at Fidelcrest include MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader.
Brokers that can be used with Fidelcrest are listed below.
- TradingView
- IC Markets
- XM
- Pepperstone
- Roboforex
- Blueberry Markets
- Purple Trading
Fidelcrest users can choose between 13 different account types, including MicroFX accounts for beginners and ProFX accounts for experienced traders. The ”Normal Mode” requires users to adhere to a 5% maximum daily loss and 10% maximum loss, while the ”Aggressive” account type requires 10% and 20%, respectively. Fidelcrest also offers a Swing Trader account, which allows users to keep positions open overnight and during the weekends or holidays. Users can use different trading strategies including scalping, hedging, and day trading.
Fidelcrest’s tuition fees range from €99 to €3,499. There are no inactivity, funding, transaction, or overnight fees.
Fidelcrest’s customer service is available by phone, email, and live chat.
Fidelcrest’s Forex Funded Account Features are listed below.
- Micro accounts have only a 5% profit target
- Funded accounts up to $2M
- Up to 90% profit split
- Low funding options for new traders (from €99)
- High maximum leverage of 100:1
- Wide range of trading platforms (MT4, MT5, and cTrader)
- Availability of different trading techniques, including news trading
- Aggressive accounts allow holding positions overnight and on the weekend
- Swift account opening (and funding within ten trading days)
- A minimum of 10 trading days per 30-day rolling period is required
4. MyForexFunds
MyForexFunds is a Canadian prop trading firm founded in 2020. They have a huge user base of over 120,000 traders from more than 80 countries. MyForexFunds allows users to manage up to $300,000 capital and earn from 75% to 85% profit share (depending on the account type and trading duration). Additionally, users can trade with up to 1:100 leverage (on the Evaluation Program) and 1:500 (on the Rapid Program).
MyForexFunds users can trade with 48 forex pairs, precious metals like gold and silver, and spot CFDs on indices like the AUS200, ESP35, and FRA40. Supported trading platforms include MetaTrader 4 and MetaTrader 5. Additionally, users can deploy Expert Advisors and use other types of automated trading software.
ForexFunds trading rules include a 5% overall drawdown limit on Conventional accounts and 10% on Emphatic accounts. Traders can use various trading techniques, including news, scalping, long-term, and short-term trading. However, tick scalping, arbitrage, receiving signals from a third-party provider, gap trading, and external account management services are forbidden.
MyForexFunds has three categories: Rapid (for basic traders), Evaluation (for experienced traders), and Accelerated (for full-time traders). Users can choose between the following account types:
- $5,000,
- $10,000,
- $20,000,
- $50,000,
- $100,000,
- $200,000,
- $300,000.
MyForexFunds has a free demo account but doesn’t offer free trials. Customer support is available by phone, email, and live chat.
MyForexFunds Forex Funded Account Key Features:
- Wide selection of account types
- Automated accounts
- Verification skip option
- Up to $300k capital availability
- Profit targets range from 8% (target for Phase 1) and 5% (for Phase 2)
- Variety of trading platforms (MT4, MT5)
- All trading styles allowed (scalping, hedging, day trading)
- No trading restrictions or limitations
5. The 5%ers
The 5%ers is a prop trading firm founded in 2016. They allow users to manage up to $4 million in capital and earn a share between 50% and 100% of the generated profit. The 5%ers users can choose between three account types: the Boot Camp, Hyper Growth, and High Stakes account.
The 5%ers users can trade on various forex currency pairs, including EUR/USD, GBP/USD, USD/JPY, USD/CAD, AUD/USD, NZD/USD, and USD/CHF. The main trading platform available to The 5%ers users is MetaTrader 5, with support for Expert Advisors.
The 5 %ers have a maximum drawdown of 6% on all available programs (Boot Camp, Hyper Growth, and High Stakes account). Users are allowed to keep their positions open overnight. Trading techniques supported by The 5%ers include scalping, hedging, and day trading.
The5%ers tuition fees range from $39 (on the $5,000 account) to $495 (on the $100k High Stakes account). Users are additionally charged a $4 commission per side per lot and swaps on indices and other assets.
The 5%ers customer support is available via phone,email, and live chat.
The5%ers Forex Funded Account Key Features are listed below.
- Wide variety of trading instruments (including all major forex pairs)
- Access to MetaTrader 5 and Expert Advisors
- Availability of AutoChartist technical and fundamental analysis tools
- Access to trade ideas
- Access to scalping educational resources
- Extensive trading course, including one-on-one coaching
How To Select The Optimal Forex Funded Account in UAE?
Criteria to consider for selecting the ideal forex funding program and account are listed below.
- Wide range of Forex trading instruments
- Simple and quick evaluation process
- High profit split share ratios in favor of the trader
- Flexible drawdown limits
- Low trading fees
- Wide range of supported trading platforms (MT4, MT5, cTrader)
- No trading style restrictions
- Availability to UAE users
The Top Prop Trading Companies in UAE Compared
Key features of the highest rated proprietary trading firms in UAE are compared in the table below.
| Funded account | FTMO | SurgeTrader | Fidelcrest | MyForexFunds | The 5%er |
| Trading platforms | MT4, MT5, cTrader | M4, MT5 | MT4, MT5, cTrader | M4, MT5 | MT5 |
| Tuition fees | 155 eur -1080 eur | $250.$6500 | 999 eur – 2499 eur | $49-$1389 | $275-$875 |
| Refunds | Yes | No | No | Yes | No |
| Profit share | 80% | 75-90% | 40-80% | 85% | 50-100% |
| Plans | 10 | 6 | 5 | 12 | 27 |
| Free Trial | Yes | No | No | No | No |
| Trading strategy limitations | No limits | Stop-Loss, Max. opened lots | Depends the account type no hlding position overnigh/weekend | No limits | Some limitations on scalping and copy trading |
| Training | No | No | Yes | No | Yes |
Evaluation Requirements Compared
Evaluation requirements of the highest rated proprietary trading firms are compared in the table below.
| Funded accounts | FTMO | SurgeTrader | Fidelcrest | MyForexFunds | The 5%er |
| Evaluation – Profit target | 10,00% | 10,00% | 10% | 8% | 8% |
| Evaluation – Max. Drawdown | 1,00% | 8,00% | 5% | 12% | 10% |
| Evaluation – Time limit | Unlimited | Unlimited | 60 days | 90 days | Unlimited |
What Are Forex Funding Programs?
Forex funding programs are investments offered by proprietary trading firms (prop firms) or individual investors, allowing program participants (forex traders) to trade with their capital in exchange for a share of the profits. In other words, funded accounts allow the forex trader to trade with foreign capital and share his profits and losses with the capital provider (prop firm or private investor).
Trader funding programs aim to attract and retain talented traders and provide them with the capital to trade the forex markets profitably. To offset the risks the proprietary trading firm takes, traders must adhere to strict rules and guidelines it sets out.
How To Get Approved For a Forex Funding Program?
Approval processes for forex funding programs vary between prop firms. The most common steps to get approved for a Forex funding program are listed below.
1.Sign up
The first step is to sign up for a funding program. This step typically requires providing personal details and information regarding trading experience, strategies, and financial goals. Some programs may even require the trader to deposit an initial tuition or account setup fee.
2. Evaluation and Challenge Phase
Once accepted by the proprietary trading firm, the trader receives access to a demo or real trading account with a particular starting balance. The prop firm commonly requires traders to reach specific profit targets while not breaking any of the firm’s trading risk management rules (max. drawdown, number of trades, tradable timeframes).
3. Trading Performance Evaluation
If a trader meets the requirements and profit targets of the funding program, the prop firm evaluates the trader’s performance. Some forex funding programs include live trading room access, personal coaching, and educational materials to enhance traders’ skills further.
4. Funding Approval
The prop firm offers capital funding to traders recognized to generate constant profit. The trader receives access to a real trading account funded with a specific amount of money to trade with.
What Are The Most Common Restrictions On Forex Funded Accounts?
The most common restrictions on forex funded accounts are listed below.
- Trading Hours – most funding programs limit traders to specific times when users can trade. Commonly these limitations include trading around major news publications, events, and releases.
- Risk-Reward Ratios – most funding programs have pre-determined risk-reward ratios to encourage the usage of risk management tools.
- Maximum Drawdown – refers to the maximum loss a trader can have at any moment during the program’s verification and evaluation stages. The maximum Drawdown is often measured from the account’s initial starting balance. Once an account balance falls below the maximum drawdown percentage, the account may be closed, and the trader needs to re-enter the program.
- Profit Targets – all funding programs have profit targets for their traders to achieve within a specific timeframe. If these targets aren’t met, the trader might be disqualified from the program.
- Trading Instruments – traders are limited with trading instruments offered and allowed by the proprietary forex trading firm.
- Position Sizing – Most funded account programs state maximum lot sizes per trade and number of concurrent open trades.
- Hedging and Scalping – certain forex trading strategies like hedging (going long and short on the same currency pair) and Scalping (quickly opening and closing trades to rack up many tiny profits) aren’t allowed.
Conclusion
It requires time and effort to compare and evaluate the services of different funded forex companies in UAE to find the ideal option. Users have to collect and evaluate relevant information to make the optimal choice for their needs.
This guide does the tough work for users to compare and evaluate the top choices for different types of traders and trading goals. The results of our analysis of the best forex funded accounts in UAE are wrapped up in the table below.
| RANK | BROKER | PLATFORM SCORE | BEST FOR | WEBSITE |
| #1 | FTMO | 4,9/5 | Overall | Official website |
| #2 | SurgeTrader | 4,9/5 | Evaluation process | Official website |
| #3 | Fidelcrest | 4,8/5 | Trading platforms | Official website |
| #4 | MyForexFunds | 4,4/5 | Trading rules | Official website |
| #5 | The 5%ers | 4,3/5 | Trading education | Official website |
FAQ
How much funding is available on forex funded accounts?
The funding amount on forex funded accounts depends on the provider’s program, experience level of the trader and its trading history with the provider.
What is the common profit split on forex funded accounts in UAE?
Common profit splits on forex funded accounts range from 50/50, 60/40, and up to 70/30. However, the profit split ratio varies from program to program.
What are the consequences of users trading out of their limitation?
The consequences of trading outside of the funded program limitation of the provider can cause temporary trading suspensions or complete removal from the funding program.
How are profits paid out and how often on forex funded accounts?
Profits generated on forex funded accounts are commonly paid out on a monthly basis or quarterly, depending on the agreement with the trader. The most common payment methods include bank wire transfers, cryptocurrency payouts and e-wallet payment like Paypall and Skrill.
Are Forex Funded Accounts Legal in UAE?
Yes, forex funding programs are legal and available for traders and investors in the UAE
Are Forex Funded Accounts Recommended for beginners?
Forex funding programs allow users to trade with less risk and capital involvement and are therefore suitable for beginners traders with prior trading experience. Keep in mind that users need to pass a performance (knowledge) test prior to get accepted to the program.
Disclaimer
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Stefan Grasic is the owner of Business24-7 and has considerable experience in the financial and investment niche, but also enjoys writing articles for the general readership. Stefan is an active stock, CFD, crypto and general investment researcher, advising blockchain companies such as Blockbird, GoCrypto, Hive Terminal at their start up level.