Cryptocurrency trading has grown exponentially, and with it, a variety of proprietary trading firms have emerged. These firms are evaluated by traders based on various parameters, one of which is user satisfaction and credibility as reflected on Trustpilot. Our blog unveils the top five prop trading firms offering cryptocurrency trading, each with high Trustpilot ratings. However, please note that the rankings and ratings mentioned in our blog are pertinent to the date the article is published. While these Trustpilot ratings do fluctuate, drastic changes are uncommon.
Significance of Trustpilot Ratings in Prop Trading Firms
Trustpilot ratings play a pivotal role in showcasing the trustworthiness within Proprietary Trading Firms, especially in the domain of cryptocurrency trading. They provide a window into the general satisfaction levels of traders who have engaged with these firms. A superior rating typically mirrors higher satisfaction, acting as a significant resource for potential traders weighing the pros and cons of a particular firm. In their initial research, traders might turn to Trustpilot ratings to identify a firm that aligns with their trading goals and methodologies. Now, let's delve into the 5 best crypto prop trading firms as assessed by these ratings.
#1 FTMO [Rating: 4.9]
Holding a top position with a Trustpilot rating of 4.9 is FTMO, a proprietary trading firm, originating from the Czech Republic with an operational history of 8 years. FTMO’s evaluation process is split into two phases. In the 2-step Normal challenges, traders need to meet specific profit targets. In the first phase, traders are required to achieve a profit target of 10%, while in the second phase, the profit target is reduced to 5%. The firm has set a Max Daily Loss limit of 5% and a Max Total Drawdown limit of 10%. This firm engages traders with a diverse selection of instruments, encompassing Forex, Indices, Commodities, Stocks, and Cryptocurrencies. Acknowledged for their intuitive interfaces, the trading platforms provided by FTMO include MT4, MT5, and cTrader. Notably, FTMO eliminates commissions on Cash CFD, Futures CFD, and Crypto, presenting an economical avenue for traders. Additionally, they have a pay-out frequency of 14 days.
#2 Funded Trading Plus [Rating: 4.9]
Funded Trading Plus, headquartered in the UK, functions as a proprietary trading firm, facilitating traders to utilize the company's capital for diverse financial instruments. With a 2-year operational record, this firm collaborates with the broker EightCap and equips traders with the MT4 and MT5 platforms. Holding a Trustpilot score of 4.9, Funded Trading Plus indicates commendable feedback from its clientele. Their premium challenge is structured into two phases, phase 1 requires traders to achieve a 8% profit, while Phase 2 has a reduced target of 5%. Risk management is evidently a priority with a Max Daily Loss limit of 4% and a Max Total Drawdown limit of 8%. With a pay-out frequency set at every 7 days, Funded Trading Plus provides traders with relatively frequent opportunities to withdraw their profits.
#3 Instant Funding [Rating: 4.8]
When it comes to the trust factor, a rating of 4.8 on Trust Pilot also suggests a high level of satisfaction among its clientele. Instant Funding is a proprietary trading firm based in the United Kingdom. With a year under its belt, it is relatively new to the trading arena. The firm has partnered with ThinkMarkets as its broker, and provides its traders with the platforms MT4 and MT5 for trading activities. In terms of trading instruments, Instant Funding offers a variety of assets to trade including Forex, Commodities, Indices, and Cryptocurrencies. The firm also provides a leverage of up to 100:1, which could be attractive to traders looking for higher leverage, while the commission charge stands at $7 per lot. The two phase challenges set a profit target of 8% in phase 1 and another 5% in phase 2. Risk management is a core aspect of the program with a Max Daily Loss limit of 5% and a Max Total Drawdown limit of 10%. The pay-out schedule starts with a 14-day frequency, transitioning to a 7-day frequency thereafter.
#4 Blue Guardian [Rating: 4.8]
Blue Guardian, a proprietary trading firm based in the United Kingdom, stands strong with a Trustpilot rating of 4.8. The firm operates in partnership with EightCap as its broker and utilizes the MT4 platform for trading activities. The trading instruments provided by Blue Guardian encompass FX, FX Exotics, Indices, Gold & Commodities, and Cryptocurrencies, offering a diverse range of assets for traders with varying interests. Blue Guardian’s evaluation is bifurcated into two phases. In Phase 1, traders are tasked with achieving an 8% profit target, which is halved to 4% in Phase 2. The Elite Guardian Challenge imposes a maximum drawdown limit of 10%, while the Unlimited Guardian Challenge sets its maximum drawdown limit at 8%. The leverage offered is tiered with an unlimited and an elite category, with maximum leverage of 1:100 on FX in the unlimited category, and 1:50 on FX in the elite category. The leverage for Indices and Commodities stands at 1:20, and for Cryptocurrencies, it's 1:2 in both categories. Additionally, Blue Guardian operates on an ECN spread model with spreads starting as low as 0.1 pips, alongside a commission charge of $6 per lot on all assets except Cryptocurrencies.
#5 Funding Pips [Rating: 4.8]
Rounding up the list with a rating of 4.8, is Funding Pips, a proprietary trading firm that has been in the business for a span of one year, with its operations based in the United Arab Emirates. The firm has established a brokerage partnership with Black Bull Markets and utilizes the MT5 platform for its trading activities. In Phase 1, traders are expected to achieve an 8% profit target, which is then reduced to 5% in Phase 2. With a pay-out frequency set at every 5 days, Funding Pips offers a relatively frequent schedule. The array of trading instruments provided by Funding Pips encompasses Forex, Crypto, Indices, and Metals & Energies, offering a diversified portfolio for traders. In terms of leverage, the firm offers varying degrees depending on the instrument: 1:100 for Forex, 1:50 for Metals & Energies, 1:30 for Indices, and 1:2 for Crypto. The commission structure at Funding Pips is delineated as $3 per one lot standard, with the exception of Indices which are commission-free.
Summary
Each firm, with its unique operational framework and offerings, aims to provide a conducive environment for trading in cryptocurrencies among other financial instruments. The high Trustpilot ratings of these firms underscore a level of trust and satisfaction among the trading community. FTMO and Funded Trading Plus lead the pack with a stellar rating of 4.9, followed closely by Instant Funding, Blue Guardian, and Funding Pips. These ratings are reflective of the firms' efforts towards ensuring a satisfactory trading experience. As crypto trading continues to carve a niche in the financial market, the role of reputable prop trading firms is crucial. Our guide aims to serve as a valuable resource for traders aiming to navigate the crypto prop trading space with confidence.
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