This is the Only Safe “Prop Firm” for US Traders

We’re only two weeks into the beginning of 2024 and the first major prop firm change for the year is already upon us.

FTMO has announced that it will no longer be accepting new US clients – based upon the fine print, it sounds like current accounts held by US customers are unaffected but all new and future challenges are for non-US clients only. However, this is not explicitly stated in the written announcement and any questions current US customers have should be brought up with a FTMO representative.

This update comes a few months after one of FTMO’s major competitors, MyForexFunds, was shut down by US regulatory bodies in the fall of 2023.

It seems like the prop firm industry is currently going through a shake-out process. Legal definitions of what an online prop firm is, the transparency and trust of firms, and other boundaries surrounding the sale of challenge accounts are coming under vast scrutiny in some of the largest nations that allow the sale of these products.

In some ways, this regulatory shake-out may mean better transparency and protection from firms that are solely out to make money from failed challenge accounts. But in others, it may mean that certain nationals may be barred from the prop trading experience altogether.

As we move forward from yet another hurdle to overcome in the prop firm industry, US traders especially may be wondering if it’s even worthwhile to trade with a prop firm if there is a risk of the company going under once one is funded.

While the future of this industry is unknown, for the time being, I believe there is one prop firm in particular that is taking extensive measures to present the opportunity for successful traders to earn a cut from their skill while also protecting themselves from regulatory upheaval. 

This is the only prop firm I have extensively written about because, from the get-go, it is one of the few prop firms that behaves in a profoundly professional manner: Funded Trading Plus, aka FT+.

The reason why I believe this is one of the safest trading experiences available to traders who do not have substantial capital of their own is that FT+ is not, technically speaking, a prop firm and therefore not subject to regulation of prop firms. They offer opportunities for traders to exhibit their skills on demo accounts and win money from what is essentially a pool of funds. Legally, they are differentiating themselves from this industry so as to avoid regulatory issues.

This business is also dedicated to better understanding trading strategy data that it collects to differentiate strategies that are effective and exhibit a high probability of success over the long run.

I’ve written about the high professionalism and benefits of this firm in other posts and recommend checking out these articles for a further breakdown of why this firm is one of the best choices.

Also, you’ll get the most up-to-date information and most accurate answers to your questions by checking out FT+’s homepage. If you’re interested in getting 10% off of your challenge, use coupon code DFX10 at checkout.

This is a trying time for us traders who seek to earn side income from resources that allow us to overcome the barrier of limited capital. Hopefully, at the end of this, we will be left with truly trustworthy firms.