Prop trading has captured the attention of Canadians seeking to chart their own financial course beyond traditional career paths. Prop firms fund individual trader talent and motivation with necessary capital, tools and infrastructure – for negotiated profit-sharing arrangements.
With barriers eroding between Wall Street and Main Street, everyday Canadians now question if prop trading could unlock realistic pathways to full-time income. Despite the allure, selecting a reputable prop firm that best aligns with unique skill sets remains shrouded for eager beginners.
This review analyzes six leading international prop trading firms perfect for Canadian traders:
- FTMO
- The Funded Trader
- TopStep
- Maven Trading
- SurgeTrader
- Traders with Edge
We will evaluate founding, services, fee terms, and pros/cons specifically for Canadians. The goal is to showcase viable prop trading options and determine which best aligns with the unique trading talents, skills, and aspirations of Canadians.
FTMO
FTMO(Financial Trader Magazine OÜ) is an Estonian prop firm launched in 2020 by a team with over a decade of trading industry experience. Their meteoric rise and flawless track record funding traders globally spotlights FTMO as a premier international destination.
Services and Tools
FTMO provides funded accounts from $1,000 up to $100,000 to trade forex, indices, commodities, stocks and cryptocurrencies through their proprietary web-based platforms and mobile app tailored for beginners to advanced traders.
Fee Terms and Account Minimums
A starting account is $1,000. Traders must pass an evaluation combining profit targets, maximum drawdown limits and trading days active to verify skills. Account fee tiers range from 10% to 30% profit splits.
| Pros | Cons |
|---|---|
| ✅ Internationally reputable regulated brand | 🌐 As an Estonian entity, light regulatory oversight |
| 🏆 Award-winning copy trading technology | 📉 Steep evaluation phase may deter trading novices |
| 🔍 High transparency performance monitoring | |
| 💰 Lucrative profit sharing ratios |
The Funded Trader
The Funded Trader is a NYC-based specialized prop firm catering to stock and options traders which launched in 2022. Founded by ex-Wall Street traders well-versed in equities, The Funded Trader offers retail traders access to institutional grade tools and insights.
Services and Tools
The Funded Trader provides accounts sized from $1,000 to $100,000 to approved stock and options traders through their proprietary web and mobile platforms optimized for active equities trading. Integrated market scanning, options modeling and copy trade abilities are offered.
Fee Terms and Account Minimums
$1,000 minimum account makes The Funded Trader accessible for Canadians. Post passing evaluations, there are no platform fees just profit splits ranging from 80/20 to 70/30 based on account tier.
| Pros | Cons |
|---|---|
| 📈 Specialized stock and options prop trading | 📉 As a newer firm long term stability largely unproven |
| 💸 Low minimum account threshold $1,000 | 🌐 USA based so light regulatory oversight for Canadians |
| 💰 Favorable and transparent profit split terms | 📉 Catered to experienced stock and options traders |
| 🛠️ Tools for sophisticated options modeling |
TopStep
Launched in 2011 and headquartered in Chicago, TopStep is an established industry leader in funding retail futures traders looking to access professional capital and technology. With over $6 billion in funded accounts, TopStep brings over a decade of experience.
Services and Tools
TopStep specializes in funding futures traders focused on commodities, forex, global indices and crypto futures. Accounts range from $2,500 up to $2 million in buying power once verified as a skilled trader through TopStep’s evaluation program.
Fee Terms and Account Minimums
The minimum account size is $2,500. There is a one-time $275 platform fee and $125 monthly data fee during evaluation. Post verification, no added fees just profit splits starting at 80/20 for traders.
| Pros | Cons |
|---|---|
| 📈 Established, reputable specialist for futures traders | 📉 Caters to intermediate and experienced futures traders |
| 💰 Access up to $2 million in buying power | 🌐 Primarily regulated by NFA and CFTC |
| 💸 Lucrative and transparent profit sharing | |
| 🛠️ Advanced futures trading platforms and tools |
Maven Trading
Founded in 2020 by industry veterans, Austin-based Maven Trading has rapidly emerged as one of the largest US prop firms catering to active stock, options, crypto and futures traders.
Services and Tools
Maven provides funded accounts from $25,000 up to $1 million funding for experienced traders. Their proprietary platform delivers integrated analytics, automated trading API and paper trading scenarios to test strategies.
Fee Terms and Account Minimums
The minimum $25K account is higher priced but offers elite tiered funding up to $1 million. There are no platform fees, just set profit splits ranging from 15% to 40% based on account balance milestones achieved.
| Pros | Cons |
|---|---|
| 📈 Specialized in stock, options, and crypto trading | 💰 $25K minimum is higher barrier for newer traders |
| 🛠️ Robust tech capabilities and platform tools | 📉 As a newer US-based firm, long-term stability not guaranteed |
| 💰 Funding amounts to $1 million available | |
| 🤝 Dedicated account manager assignment |
SurgeTrader
Founded in 2019 and headquartered in Seattle, SurgeTrader is a fintech prop trading firm focused on funding stock and options traders through cutting-edge technology and educational resources.
Services and Tools
SurgeTrader specializes in stock and options, funding traders from $7,500 to $300,000 account sizes. Their Custom Pro Trading Platform delivers pro-grade tools like options modeling, automated order execution, algo building and more.
Fee Terms and Account Minimums
Minimum account is $7,500. No platform fees, just profit splits from 75/25% up to 80/20% for traders upon passing SurgeTrader’s Combine evaluation phase demonstrating skills.
| Pros | Cons |
|---|---|
| 📈 Specialized stock and options prop trading | 📉 Geared to intermediate and experienced traders |
| 🛠️ Powerful proprietary Custom Pro Trading Platform | 📉 As a newer firm, long-term stability not proven |
| 💰 Access elite funding up to $300,000 | 🌐 US regulations still evolving for prop trading |
| 💸 No platform fees beyond profit splits |
Traders With Edge
Traders With Edge is a Dubai-based prop trading firm launched in 2020 focusing on providing crypto traders access to secure funding, proprietary analytics, and mirror trading technology.
Services and Tools
The firm offers funded accounts from $1,000 up to $50,000 to verified crypto traders. Their platform delivers integrated charting, on-chain metrics, sentiment tools, bot trading, and copy trade abilities specifically for digital assets.
Fee Terms and Account Minimums
The minimum account starts at $1,000 making it accessible for everyday Canadians looking to prop trade crypto strategies. No platform fees, just set profit splits ranging from 80/20 to 70/30 based on account tier attained.
| Pros | Cons |
|---|---|
| 📈 Specialized crypto prop trading firm | 🌐 Based in Dubai so light regulation |
| 🛠️ Advanced web-based proprietary platform | 📉 As a new company, long-term stability not guaranteed |
| 💸 Lucrative and transparent profit splits | |
| 🔍 Access to mirror trading technology |
Conclusion
This comprehensive review analyzed six leading global prop trading firms actively providing funded services to aspiring traders based in Canada. While offerings differ, all profiled companies enable Canadians to access professional-grade trading capital, analytics and infrastructure to unlock income potential from global markets.
- FTMO – Multi-asset backing at scale ⬆️ $100K
- The Funded Trader – Sophisticated stock/options focus
- TopStep – Authority in futures, over $2M buying power
- Maven Trading – Expert crypto and securities trades up to $1M
- SurgeTrader – Cutting-edge options order execution
- Traders With Edge – Crypto-centric, accessible $1K minimum
Rather than one outright leader – traders can leverage strengths aligning closest with preferences across:
- Asset classes traded
- Platform capabilities
- Funding account tiers
- Profit split arrangements
As prop trading keeps advancing in Canada, reputable global firms stand keen to keep pace with innovations in regulation, technology and accessibility. The time has arrived for more independent traders to access proven springboards helping unlock income potential in 2024.
FAQs
- What is the minimum to start prop trading in Canada?
Minimums range from $500 with some firms up to $25,000 for elite status, depending on account tier targets.
- Which markets can I trade via Canadian prop firms?
Most prop firms offer trading in stocks, options, futures, forex, crypto and other major assets classes.
- How do funded account profits get split?
Commonly 80/20 to 60/40 splits between traders and the firm, incentivizing trader performance with higher percentages.
- Can Canadians copy other successful prop traders?
Yes, many firms provide mirror trading and signal tools to automate copying profitable traders.
- Can prop trading fully replace a 9 to 5 job?
Given discipline and dedication, consistently profitable traders can exceed regular job income over time by scaling strategies.
