The landscape of Forex proprietary trading in Australia is vibrant and offers various opportunities for traders. Prop trading firms in Australia provide platforms for traders to leverage the firm’s capital, offering a pathway to trading at a scale that is very difficult to achieve with one’s own funds. Proprietary trading firms offer large amounts of trading capital on funded accounts after traders pass specific challenges. These challenges are designed to check the trader’s performance within predefined risk parameters. Prop firms set certain risk limits and trading strategy rules to protect their capital while simultaneously allowing successful traders to gain massive returns. These firms typically keep a certain percentage of profits from traders. Let’s dive deeper into the fascinating world of prop trading and list some of the best firms operating in Australia. While the country offers a higher salary than the average cost of living per month, it will require full-day work, which might not be suitable for all traders. Many brokers also provide access to regulated platforms through their partner brokers, and traders can speculate on Australian dollar pairs. This may be appealing for local traders, as it is easier for residents to listen to the heartbeat of the AU economy. Since the majority of Australians speak the English language, the majority of prop firms offer a plethora of educational resources and online courses, enabling traders to learn essential concepts more easily. Australian prop firms are not required to be regulated by the ASIC giving them more flexibility.
Understanding Prop Trading in Australia
Prop trading in Australia involves firms trading their own capital to make profits. These firms typically give talented traders substantial amounts of capital for trading, keeping a small percentage of profits in return. To select the best prop trading firms Australia can be a super attractive place because of its developed economy and well-regulated financial sector.
The Benefits of Joining the Best Prop Firms Australia
There are several reasons why prop trading might be better than traditional financial trading when it comes to trading from Australia. The cost of living for a single person without rent is estimated to be around $1,124.2 (1,731.4A$). You must make this with a maximum of 100 USD or even a 1000 USD trading account. Prop firms provide access to accounts sometimes 100,000 USD and more, which can be perfect for making a living in Australia without needing a regular 9 to 6 job.
Criteria for Selecting the Best Forex Prop Firm Australia
Selecting the best prop trading firm involves evaluation factors such as the firm’s experience in the industry, the funding options available for traders, profit-sharing schemes, the range of markets and instruments available for trading, the level of support and training, and the firm’s fees and commissions for operating the funded account.
Experience in the industry simply means how long the prop firm has been around. If it was established for more than 3 years then it is a good sign and indicates that the firm could be legit as scams and fraud would not be active for that long. The minimum funding amount and the maximum amount are important aspects of evaluating what are the long-term chances of acquiring a larger account with the firm. It is also important that the firm allows access to a wide range of assets to speculate on preferable markets. Profit-sharing is a key consideration together with the fees. Industry-accepted profit-sharing range is between 80-90%, anything below that should be considered very carefully, and low fees are also critical.
Legit and reliable prop firms have no hidden rules and allow many trading strategies. Hidden rules are hard rules that are hidden from the trader’s site in the conditions and are difficult to find. The presence of hidden rules is a huge red flag and traders should stay away from such prop trading firms. Many prop firms restrict their traders from certain types of trading including EAs or automated trading software, News trading, and overnight trading. Ensure to carefully evaluate what your prop form allows and what type of trader you are. Some legit firms are allowing all sorts of trading strategies, and some should be on our list below.
Brief Overview of Top Australian prop trading firms
There are multiple reliable options when opting for Forex prop trading firms in Australia. We will quickly overview some of the best companies for prop trading Australia ensuring our readers have the best options available.
E8 Funding
E8 Funding is a prop firm based in Dallas, USA, and founded in 2021. E8 Funding allows traders to manage large trading accounts ranging from 25k to 300k USD with scaling plan options up to 1 million USD. The firm has a three-phased program and allows only 8% maximum drawdown limits. E8 Funding offers a broad asset selection and a user-friendly platform. Trading assets include Forex pairs, commodities, indices, equities, and cryptos. The firm provides access to MT4 and MT5 advanced trading platforms and allows all trading styles. The maximum leverage is up to 1:50.
Profit sharing is up to 80%, and withdrawals are processed within 1-2 business days. The firm charges no fees for withdrawals. The minimum audition fee on the minimum funded account is 138 USD. There are different fees on different funded accounts with a maximum of 988 USD for scaling up to 1 million USD. Account base currencies include USD, EUR, and GBP.
The maximum drawdown limit can be increased gradually after withdrawing profits while the daily loss limit is 5% at all challenge levels.
A quick overview of E8 Funding specs
| Year founded | 2021 |
| Based in | Dallas, Texas, United States |
| Minimum audition fee | 138 USD |
| Minimum funded amount | 25,000 USD |
| Maximum funded amount | 300,000 USD |
| Allowed daily loss | 5% |
| Profit target | 5-8% |
| Maximum trailing drawdown | 8% |
| Profit sharing (Payouts) | 80% |
Audacity Capital
Audacity Capital is a prop trading firm with significant experience in the industry, as it was established back in 2012. The firm accepts and funds talented traders across 140 countries worldwide. The main aim of Audacity Capital is to establish a long-term relationship with successful traders and has a scaling plan that doubles the funded account every time a trader hits the 10% profit target. The funding options at Audacity Capital range from 15k to 480k USD. No withdrawal fees are charged and traders can access Forex pairs, indices, and commodities on the advanced trading platforms of MetaTrader 4 (MT4) and MetaTrader 5 (MT5). The profit-sharing model at the firm ranges from 50% to 85% depending on the challenge and the minimum audition fee for a 10k funded account is 138 USD. The maximum daily loss is very moderate at Audacity Capital and traders can lose up to 10% of the challenge account on any day which opens up tons of possibilities for employing a wide range of trading strategies including trend trading and swing trading.
Thanks to the professional training program and an abundance of educational resources, Audacity Capital is a beginner-friendly prop firm. Customer support is multilingual and the firm is represented on several popular social media platforms.
Audacity Capital is a solid choice for traders looking for a reputable prop firm with competitive terms, a range of educational resources, and excellent support. The fact it has been around since 2012 only adds to its legitimacy and is an important component of defining whether the firm is reliable. Audacity Capital is one of the best proprietary trading firms Australia.
A quick overview of Audacity Capital specs
| Year founded | 2012 |
| Based in | London, UK |
| Minimum audition fee | 129 USD |
| Minimum funded amount | 10,000 USD |
| Maximum funded amount | 480,000 USD |
| Allowed daily loss | 10% |
| Profit target | 10% |
| Maximum trailing drawdown | 10% |
| Profit sharing (Payouts) | 50-85% |
Blue Guardian
Blue Guardian is a Forex prop firm that is based in the UK, London. It was founded in 2019 and began operating as a prop firm in 2022. The funding range for various challenges varies between 10k and 200k USD and the minimum audition fee for a 10k account is 87 USD. The withdrawal fees are 0 USD and the trading platform is MetaTrader 4. The firm has an 85% profit-sharing and most payment options are free and instant. The maximum leverage is 1:100 which is super attractive together with different account types to suit various trader needs. The firm offers Unlimited Guardian, Elite Guardian, and Rapid Guardian accounts. Each account type has specific rules, limitations, and profit targets, with the audition phase fees varying according to the account size. The minimum daily loss limit is tight at 4% and traders have to carefully select trading strategies with strict risk management rules to succeed. Payouts are great at 85% allowing traders to withdraw the majority of their profits. Blue Guardian with its diverse accounts and 85% profit-sharing is one of the best prop firms in Australia.
A quick overview of Blue Guardian specs
| Year founded | 2019 |
| Based in | Solihull, West Midlands, England |
| Minimum audition fee | 87 USD |
| Minimum funded amount | 10,000 USD |
| Maximum funded amount | 200,000 USD |
| Allowed daily loss | 4% |
| Profit target | 8% |
| Maximum trailing drawdown | 8% |
| Profit sharing (Payouts) | 85% |
Instant Funding
Instant Funding is a newcomer in the business of prop firms but has already established itself as one of the most trustful props. It was launched in 2023 in London, UK. The funding programs are diverse from Instant Funding ranging from 1,250 to 200k USD with a scaling plan of up to 1,25 million USD. The firm has partnered with ThinkMarkets which is a regulated Forex and CFDs broker offering a safe environment for the firm’s funded traders. The firm currently offers three programs: Instant Funding, One-Phase, and Two-Phase. Traders can participate in the Instant Funding challenges by trading Forex, indices, commodities, and cryptos on MT4 and MT5 platforms. There is no daily loss limit rule allowing traders to have greater flexibility to use their preferred strategies freely. The maximum drawdown of 10% is also less strict than many other firms. Profit-sharing ranges from 70 to 80% and can be increased to 90%. The fees start from 99 USD for funding programs and the firm has 0 fees for profit withdrawals. Spreads are from 0.1 pips meaning traders can use scalping strategies as well. As for education and customer support the firm has an extensive FAQs section and educational videos and tutorials.
A quick overview of Instant Funding key specs
| Year founded | 2023 |
| Based in | London, United Kingdom |
| Minimum audition fee | 79 USD |
| Minimum funded amount | 1,250 |
| Maximum funded amount | 200,000 (Up 1.25 million USD with scaling plan) |
| Allowed daily loss | None |
| Profit target | 0-3-5% |
| Maximum trailing drawdown | 10% |
| Profit sharing (Payouts) | 70-80% (up to 90% with scaling) |
FTUK
FTUK or Forex Traders UK is a prop firm based in Dubai, United Arab Emirates. FTUK is primarily a Forex prop firm attracting talented Forex traders across the world. The firm was launched in 2021 and offers decent services with funding options ranging from 14k to 5M USD. FTUK has two funded account types and traders can access a multitude of trading assets through its partner broker EightCap, which is a regulated Forex and CFDs broker. FTUK enables traders to access Forex pairs, cryptos, indices, and commodities on EightCap MT4 and MT5 advanced trading platforms. Despite many advantages, the firm has no educational resources as it mainly targets experienced traders. The firm has live chat and email support options. FTUK has very competitive trading rules with its 8% maximum drawdown limit and no restrictions on daily losses.
A quick overview of FTUK key specs
| Year founded | 2021 |
| Based in | Dubai, United Arab Emirates |
| Minimum audition fee | 149 USD |
| Minimum funded amount | 14,000 USD |
| Maximum funded amount | 90,000 USD (Up to 5M USD with scaling plan) |
| Allowed daily loss | None |
| Profit target | 10% |
| Maximum trailing drawdown | 8% |
| Profit sharing (Payouts) | 80% |
Lark Funding
The firm launched in 2022 and is a Forex prop firm allowing traders to pass challenges without hidden rules. Lark Funding is based in Canada and has one of the lowest audition fees starting from 50 USD for a 5,000 USD account. The daily loss can be 0% or 5% depending on the faded account type and the same is true for profit targets which range from 3 to 10%. The 3% profit target can be hit very easily making Lark Funding one of the most attractive FX prop firms. The firm is partnered with EightCap, a regulated Forex and CFDs broker offering spreads from 0 pips and TM4 and MT5 platforms. Lark Funding provides access to Forex pairs, indices, and commodities through the EightCap broker. The firm has flexible profit-sharing policies 75% on 1-stage and 2-stage evaluation accounts and 80% on 3-stage evaluation accounts. There is an option to purchase an addon and increase profit-sharing to 90%. Lark Funding offers zero educational resources and has live chat as a single support option.
A quick overview of Lark Funding key specs
| Year founded | 2022 |
| Based in | Montréal, Quebec province, Canda |
| Minimum audition fee | 50 USD |
| Minimum funded amount | 5,000 USD |
| Maximum funded amount | 1,000,000 USD |
| Allowed daily loss | 0-5% |
| Profit target | 3-10% |
| Maximum trailing drawdown | 10% |
| Profit sharing (Payouts) | 75-80% (up to 90% through paid upgrades) |
Ment Funding
Established in 2021, Ment Funding is a Forex prop firm offering fundings from 25k up to 2 million USD. The firm allows traders to speculate large funded accounts via EightCap-regulated Forex and CFDs brokers. The only downside for the Ment Funding is the absence of lower funded options below 25k. The lowest fee for the smallest account is 250 USD (25k USD account) and 15,000 USD for 2 million accounts. The platforms offered by the EightCap include advanced MT4 and MT5 desktop and mobile software. The profit-sharing model from Ment Funding starts from 75% and can be increased to 90% through paid upgrades. The firm offers diverse educational resources allowing complete beginners to start from zero and become profitable traders. A multitude of articles, videos, and webinars allow novices to learn important financial trading concepts. Customer support is provided via Discord which plays a live chat role.
A quick overview of Ment Funding key specs
| Year founded | 2021 |
| Based in | United States |
| Minimum audition fee | 250 USD |
| Minimum funded amount | 25,000 USD |
| Maximum funded amount | 2,000,000 USD |
| Allowed daily loss | 5% |
| Profit target | 10% |
| Maximum trailing drawdown | 6% |
| Profit sharing (Payouts) | 75% (up to 90% with paid upgrade) |
Fidelcrest
Fidelcrest is a Forex prop firm based in Cyprus and was launched in 2018 making it an experienced firm in the sector. The firm offers Normal and Aggressive, as well as Micro funded accounts to appeal to a wide range of funded traders. The aggressive account allows more freedom when it comes to loss limits giving traders greater flexibility to choose from a wide range of trading strategies. Fidelcrest allows traders to speculate on CFDs, crypto, forex, futures, and more. Fidelcrest is partnered with multiple reputable Forex brokers including TradeView, IC Markets, XM, Pepperstone, RoboForex, Blueberry Markets, and Purple Trading. Fidelcrest allows for more than 175 trading instruments including stocks. Funding options range from 15k to 1 million USD with a scaling plan of up to 2 million. When it comes to profit-sharing and withdrawals the firm offers up to 90% profit withdrawals for 0 USD withdrawal fees. A moderate number of educational resources are provided to Fidelcrest traders and customer support includes email and live chat.
A quick overview of Fidelcrest key specs
| Year founded | 2018 |
| Based in | Nicosia, Cyprus |
| Minimum audition fee | EUR 99 |
| Minimum funded amount | $15,000 |
| Maximum funded amount | $1 million (scaling to $2 million) |
| Allowed daily loss | 5% (Normal) 10% (Aggressive) |
| Profit target | 5-20% (Pro, Micro, Normal/Aggressive) |
| Maximum trailing drawdown | 10-20% |
| Profit sharing (Payouts) | 80-90% |
Forex Prop Firm
FPF is a prop firm based in Canada and established in 2015. The firm offers services through EightCap broker which is a regulated broker of Forex and CFDs. The funding options range from 25k to 200k USD and traders can speculate on a multitude of assets including Forex, cryptos, and stocks. The firm also allows moderate leverages of 1:30 leverage on Forex pairs, cryptos for 1:10, and stocks with 1:5. FPF offers several funded accounts of 1-step, 2-step, and 2-step without time limits. With these many accounts, every prop trader can find their preferred account types. The platforms are MT4 and MT5 by EightCap allowing traders to execute a diverse range of strategies and technical analysis. The profit sharing model from Forex Prop Firm is 90% and can be withdrawn at any time after the trader hits the 5% profit target. FPF lacks educational resources as the firm has no articles or webinars on its website. Customer support is provided via advanced live chat with an in-built virtual assistant.
A quick overview of Forex Prop Firm key specs
| Year founded | 2015 |
| Based in | Quebec, Canada |
| Minimum audition fee | 189 USD |
| Minimum funded amount | 10,000 USD |
| Maximum funded amount | 200,000 USD (10,000,000 USD with scaling plan) |
| Allowed daily loss | 5% |
| Profit target | 10% |
| Maximum trailing drawdown | 10% |
| Profit sharing (Payouts) | 90%(10% during the evaluation phase) |
FundedNext
FundedNext is a Forex and CFDs prop firm that was established in 2022 making it a relatively young company. The firm provides its own brokerage services and allows traders to access MT4 and MT5 advanced trading platforms. The broker is not regulated by any authority which is a downside of FundedNext. The funding options range from 6k to 200k USD and the minimum fee for 6k is 49 USD. The firm provides access to Forex pairs, crypto pairs, indices, and commodities with low spreads and competitive fees. The commission for Forex pairs is 3 USD per side per lot. FundedNext offers a profit share even for challenge periods which is set at 15%. The general profit-sharing for funded traders is 90%. The education only includes several videos emphasizing the firm’s accounts and can not be considered complete educational materials. Customer support includes social media platforms such as Discord and Facebook. FundedNext prop firm offers multilingual support.
A quick overview of FundedNext key specs
| Year founded | 2022 |
| Based in | Ajman, United Arab Emirates |
| Minimum audition fee | 49 USD |
| Minimum funded amount | 6,000 USD |
| Maximum funded amount | 200,000 USD |
| Allowed daily loss | 5% |
| Profit target | 10-25% |
| Maximum trailing drawdown | 10% |
| Profit sharing (Payouts) | 90% |
FundYourFX
FundYourFX was founded in 2021 in Indonesia and offers funded accounts from 6k to 2 million USD. The smallest fee for 6k accounts starts from 197 USD which is slightly expensive. The prop firm is partnered with EightCap, a regulated Forex and CFDs broker offering low spreads and advanced MT4 and MT5 trading platforms. The firm has a scaling plan that increases trader’s level each time they hit the 10% profit target. FundYourFX allows traders to speculate on Forex, cryptos, commodities, and indices. There is no daily loss limit meaning traders can use a wide range of trading strategies and the maximum allowed loss varies between 5 to 10 %. The maximum drawdown rule depends on the funded account the trader has been signed up for. Starter, standard, and professionally funded accounts ensure FundYourFX targets both novices and seasoned traders. The profit sharing is 90% and to withdraw profits, traders have to hit the 10% profit target first. Withdrawals are not charged. A moderate number of educational resources are provided with the blog and support includes live chat which is available only in English language.
A quick overview of FundYourFX key specs
| Year founded | 2021 |
| Based in | Indonesia |
| Minimum audition fee | 197 USD |
| Minimum funded amount | 6,000 USD |
| Maximum funded amount | 2,000,000 USD |
| Allowed daily loss | None |
| Profit target | 10% |
| Maximum trailing drawdown | 5% (up to 10% on higher levels) |
| Profit sharing (Payouts) | 50(up to 90%) |
How to Get Started with an Australian Prop Firm
The first thing is to ensure the prop firm is legit and reliable. After the legitimacy is confirmed the prop firm offers the preferable trading assets for low spreads and commissions. After that evaluate trading challenges and assess the compatibility with the trader’s strategy. If a firm has a daily drawdown limit of 3% and the trader is a swing trader then the daily limit could be easily hit unless the lot size is considerably minimized.
Navigating Challenges in Forex Prop Trading Firms Australia
Prop trading requires a different approach than traditional financial trading, as traders have to align their strategies with the firm’s requirements. These requirements are typically strict and do not allow much room for error and losses. There are several things to consider when signing up for a trading challenge account in Australia:
The size of the funded account, risk appetite, and costs of living
If you are considering prop trading for a living, you have to start with a certain minimum funded account as the cost of living is high in Australia. The country is a developed country and provides high-salary jobs, so the temptation to opt for a stable income may be high. However, if a trader has a sufficiently sized funded account they can make more than average salary and have much more free time. Prop trading may be much more attractive for seasoned traders, but novices can make profits too considering they make enough commitment to education and practice. Opting for a larger funded account may become difficult for newbies as their risk appetite may be lower than trading a 100k account. It is always better to sign up for a small account and increase funding size by scaling the account slowly.
Trading rules and trading strategy compatibility
Many firms have daily and overall draw limits making it difficult to employ certain trade strategies. The best trading strategies are those that have a higher win rate and allow traders to not make more than 5% losses per day. Trend trading strategies require much more risk tolerance than scalping strategies.
Trading assets, fees, and platforms
Another key consideration is that the firm offers advanced trading platforms with brokers that have low spreads and diverse trading assets. Scalping strategies require lower spreads as they rely on multiple small profits and high spreads can make even profitable plans useless. By finding a platform that has lower spreads traders can align their risk management with the firm’s rules increasing their chances of success. For example, the majority of the prop firms in our reviews offer trading through regulated broker EightCap, which has spreads from 0 pips which is suited for scalping strategies. Another reason why scalping strategies are better is the restriction on holding trading positions overnight or over the weekends which many firms prohibit. A good scalping strategy with a higher win rate and flexibility to close trades very quickly ensures traders can hit targets while experiencing fewer losses and not holding trades overnight.
In the end, for proprietary trading Australia can be a very suited place because of its wide selection of reliable prop firms that offer attractive conditions.
