Howdy, everyone! Nice to see you again, as always. We’ve officially passed the halfway mark of 2023; another month is in the rearview mirror. So, this time, we are here to present all the updates of some major prop trading firms during June of 2023.
The updates we will cover will be key features and changes that individual prop trading firms implemented and how these top players constantly evolve and grow to benefit their traders.
Prop Firms June Updates
Let’s jump in and find out what happened throughout June with some of these important prop trading firm updates.
We’re going to kick things off with FundedNext. They made a massive update by introducing a new MetaTrader5 terminal, which is available directly on every trader’s dashboard.
The Funded Trader
Next up is The Funded Trader. They’ve made some changes throughout June. Firstly, they’ve made some enhancements in live trading conditions. They implemented raw spreads and improved their execution speed and reliability, ensuring faster and more reliable order execution for all traders. In addition, they have also adjusted their commission structure. From now on, the commissions are seven dollars per round lot on Forex pairs, three dollars per lot on medals, and absolutely no commission fees if you are trading indices, crypto, or oil.
Finotive Funding has also provided their traders with a massive change for the One-Step Challenge and Instant Funding programs. So, traders will now be able to enjoy the two mentioned funding programs without any profit thresholds once trading on their live funded accounts, meaning that they have removed their withdrawal profit targets.
The next proprietary trading firm we’re going to mention is FTMO. They have changed the minimum trading day requirement rule during both evaluation stages of their challenge accounts. They have reduced their minimum trading day requirements from previously ten calendar days to only four calendar days.
The 5%ers has also introduced some changes within its offerings. They have introduced a smaller high-stake account size of 5K for a one-time price of 39 USD.
Alpha Capital Group
Alpha Capital Group has also introduced two attractive updates for its community. Firstly, they introduced account merging up to three hundred thousand dollars, meaning the traders can merge account sizes up to a maximum balance of 300K while also being able to scale their trading balance further up to 2 million dollars. The second change was the increase in maximum trading periods in both evaluation phases. Traders will now have 50 calendar days to complete phase one and 100 calendar days to complete phase two.
Bespoke Funding has made and implemented a few changes throughout June. The first update was regarding their lot size limitations. So, they have increased their lot size limit. The limit previously stood at 30 lots per 100,000 balance. However, from now on, traders can place up to 40 lots per 100,000 balance, expanding their trading opportunities. The second update was regarding their payout cycles. So, from now on, traders can request their first withdrawal on all rapid and classic challenge accounts after 14 calendar days. In addition, they will also be eligible for bi-weekly withdrawals with all of their future payouts on their rapid and classic challenge accounts.
TopTier Trader introduced three updates to their community in June. Firstly, they changed their lot size limitations rule, which is set for certain assets. After the update, for all account sizes that exceed the three hundred thousand dollar capital mark, the lot size limit for those specific assets will be increased to 10 lots. The next two updates introduced two new trading platforms, MetaTrader5 and Trade Locker. So, this expansion will open up new opportunities for traders who purchase new challenges from the firm.
Smart Prop Trader
Smart Prop Trader has also made a huge update to their funding program. They’ve made four incredible changes, making their challenge even more attractive.
- Firstly, they have reduced their Phase One profit target from 7.5 to 7.
- And then, they also increased the maximum drawdown limitation from 7.5 percent to eight percent.
- The third update of Smart Prop Trader was the reduction of prices of all five two-step evaluation account sizes, making them even more affordable.
- And lastly, the fourth update, which received the most praise, was the introduction of an unlimited trading period for both evaluation stages, providing traders with a relaxed environment where they can trade stress-free at their own pace without any time limitations.
Blue Guardian has introduced an unlimited trading period. So, with the introduction of the no-time-limit model, traders can now focus solely on making informed and strategic trading decisions, unburdened by the pressure of an impending deadline.
The Trading Pit
The Trading Pit has implemented some changes to its offerings. They have made multiple restrictions throughout June. So, traders can no longer be involved in arbitrage trading, high-frequency trading, news trading within two minutes before and after the release, copy trading, and EAs that utilize tick scalping. In addition to those restrictions, they have made a massive change to their funding program and scaling plan. From now on, they are offering a one-step evaluation challenge with four different account sizes.
Audacity Capital is the second last prop trading firm that made some changes in June. They’ve introduced a new and updated affiliate program which now features two levels that can be achieved every month.
Lux Trading Firm
And the last, but certainly not the least, prop trading firm that made updates in June is Lux Trading Firm. Firstly, the limited-time one million-dollar One-Step Challenge account they offered is here to stay. They’ve introduced it as a permanent offering. In addition to the new funding program, they have changed their broker partnership. They have introduced their previous brokerage, Global Prime, and a new broker partnership with OX Securities.
These have been the updates and changes of some of the industry’s leading Prop trading firms throughout June of 2023. But if you want the details of these updates, watch the Video:
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