Hello, everyone! Well, if you can believe it, July has come to an end, which means that we’re here to present all the updates on prop trading firms that have occurred during this month. Now, there have been a total of 17 firms that have introduced something new to the community throughout July. Yes, the industry has been rather busy. Now, these updates will cover features that individual prop trading firms implemented. So, some changes in trading objectives and the removal of certain trading rules and conditions.
July Prop Trading Firms Updates
We’ll dive in, so let’s look at July’s key proprietary trading firm updates in no particular order.
My Forex Funds
My Forex Funds will be the first prop trading firm we’ll cover that made some changes throughout July.
- They have introduced the long-awaited unlimited trading period during both evaluation stages.
- The second update that they introduced was their newly designed dashboard.
FundedNext is the second prop trading firm that we will look at that has implemented something new during July.
- They’ve introduced two new trading instruments on their trading platforms.
The Funded Trader
Now, the third prop trading firm that has provided updates during July is The Funded Trader. They’ve introduced a total of five updates throughout the month.
- They’ve introduced the Kings program, allowing consistently profitable traders that meet certain criteria to receive additional benefits.
- The second update was the introduction of the ThinkMarkets brokerage.
- The third update introduced a new $5,000 rapid challenge account size, meaning they have introduced an even more affordable funding option.
- The next update was on the standard challenges accounts, allowing traders to receive their first withdrawal only after 21 calendar days compared to waiting 30 calendar days.
- Lastly, they have implemented an unlimited trading period for Royal Challenge accounts.
Funded Trading Plus
Here is the Funded Trading Plus update for July:
- They have introduced a new funding program, the Premium Trader program, their second two-step evaluation with different trading objectives.
Finotive Funding; they’ve also introduced a great update.
- They are now offering their funded traders direct crypto payouts.
Another prop trading firm that has introduced a new feature is SurgeTrader.
- They now allow all of their traders to hold trades during the weekend, which is a major benefit for all the swing traders.
True Forex Funds
In July, True Forex Funds made three significant updates.
- They have introduced swap-free accounts, which will be available in USD currency.
- The second update was the removal of minimum trading day requirements, meaning that traders can now purchase an evaluation account without any minimum trading day limitations.
- And lastly, they have also introduced an unlimited trading period.
FTMO, that’s another prop trading firm that has a single update.
- They have introduced an unlimited trading period.
Now, The 5%ers also made an update:
- They’ve removed their maximum trading period rules.
Alpha Capital Group
Alpha Capital Group, they have implemented the most updates in July. They’ve made a total of six updates.
- The first one is the introduction of an unlimited trading period.
- The second update introduced a new auto payout request feature, accessed through the trader dashboard.
- The third and fourth feature regarding the verification stage is that once a trader passes the evaluation challenge, they have implemented automated KYC verification and contract features to speed up the process of traders receiving their funded accounts.
- The fifth update from Alpha Capital Group was a redesign of their website, which is occasionally important.
- And lastly, they’ve added a TradeMate panel as their latest feature.
Smart Prop Trader
Smart Prop Trader has also made two incredible updates to their trading objectives.
- Firstly, they have increased their profit split on all account sizes to 85% from having it set at 80%.
- And the second update is reducing the time you can request your first payout. Previously, traders could request their first payout after 14 calendar days. However, after this update, they can do so after only 12 calendar days.
Leveled Up Society
Leveled Up Society they’ve made a change as well.
- They’ve reintroduced EAs, so traders can now use EAs while working with Leveled Up Society.
The next trading firm that we’ll be covering is Blue Guardian. They’ve introduced two new updates throughout July.
- The first update was introducing the automated contracts feature, which will allow traders to gain access to their funded accounts faster by shortening the KYC verification process.
- On the other hand, the second update introduced the unlimited trading period on their Elite Guardian programs.
All right, Funding Pips. So, Funding Pips has introduced that for anyone who’s a fan of monthly competitions! Now, they’re another prop trading firm that will, from now on, host competitions every month. So, be sure to participate and enjoy all the awards.
The Trading Pit
The Trading Pit they’ve also made just a single update throughout July, keeping it simple.
- They’ve introduced a new user-friendly client area where traders can enjoy an upgraded interface design.
Goat Funded Trader
Goat Funded Trader, they’ve introduced updates in July. They made a total of four updates. The first is reducing the phase one profit target to 7% for classic challenge accounts.
- The second update was the reduction of their daily drawdown to 4% for classic challenge accounts.
- They also introduced swap-free accounts, explicitly created to meet the needs of traders who adhere to Islamic principles.
- And lastly, introducing a new smaller 8K account size allows traders to participate in their funding programs with a more affordable trading account option.
Forex Capital Funds
And lastly, indeed, not least, we’ll be going over Forex Capital Funds and their July updates. They have made two changes.
- The first update was introducing an unlimited trading period, which has been the theme of July within the prop trading firm industry.
- And the second update was regarding their affiliate program changes. So, the affiliate structure is now based on a three-tier affiliate system that works on a tiered commission structure.
For the details of these updates, watch the Video:
So, that’s some key updates there, and let’s wrap this up. Well, these have been the updates and changes of some of the industry’s leading prop trading firms throughout July of 2023. We can see so many prop trading firms that made changes to attract more traders with their already fairly incredible trading objectives and features that they bring to the table. The prop trading firm industry is evolving more and more rapidly, and it looks to continue for a while, which is good news.
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