Hey guys. We’ve wrapped up the first month of 2024. That means we’re here to share the recent updates from some of the industry’s leading prop trading firms that happened throughout January of 2024. Now, these updates encompass various changes, from adjustments in trading objectives and regulations to introducing new features and removing some existing ones.
In no particular order, we’re going to jump into January’s key proprietary trading firm updates.
Funding Pips
Alright, first up isFunding Pips. Going to start with their single noteworthy update that occurred during January.
- With the new implementation fromFunding Pips, traders will now be able to apply a discount code whether they purchase an evaluation account via credit/debit card or buy with crypto.
FundedNext
Next up isFundedNext. They’ve implemented a few notable changes.
- The initial two modifications include the introduction of two add-on options: no minimum trading days, replicable on the evaluation and Stellar accounts, and the 125% refund available on all funding programs.
- Now, the third update was a pretty big one; it was for the one-step Stellar Challenge. It included a few major changes: reduction of minimum trading days from 5 to two calendar days, initial profit split increase from 80% to 90%, and reduced time for first payout as well as future payouts from 14 calendar days down to 5 calendar days.
The Funded Trader
The Funded Traderimplemented two changes in January.
- The first update was the reduced leverage on commodities. So, the previously set 1:40 leverage underwent a bit of a modification down to set at 1:3 for specific instruments like gold, silver, and oils, just to name a few.
- The second update, on the other hand, was the introduction of a long 14-day free trial.
True Forex Funds
Next up isTrue Forex Funds.
- Maybe some of you are aware we are currently facing a few minor issues with their MetaTrader5 trading platform. They’re working around the clock on resolving the issues, as well as migrating all the MetaTrader5 accounts to the MetaTrader4 trading platform. Phenomenal company doing their best for their clients there.
- In addition to the unfortunate technical issues,True Forex Fundshas also come out with some excellent news. They have announced cTrader as a new trading platform option in the very near future.
FTMO
Another company that implemented some major changes in January wasFTMO.
- Now, their first act was suspending services for all US clients. This suspension took place due to specific conditions in the market segment for US clients, including both national and residents who aren’t US nationals but only reside in the USA.
- The second update was withdrawals in any current currency. Now, if you go on their website, FTMO offers funding in seven currencies.
MyFundedFX
MyFundedFXis another company that implemented a single major update. However, it came in two phases.
- In the first half of January, they announced a new funding program, a three-step challenge. And then, in the second part of January, they went live with the new funding program.
Finotive Funding
Next up isFinotive Funding, which arguably was the most active throughout January in terms of updates.
- Number one is the new two-step challenge, which includes the trading objectives of their classic challenge with an additional monthly salary and some other major benefits.
- The second update was the introduction of trading breaks on Finotive Pro accounts.
- The third updateFinotive Fundingmade was the introduction of the account refresh and refund features for the one-step challenge.
- Another update was regarding the stop-loss limit.
- Another update, though, was the introduction of a guaranteed first monthly salary. This means that you’ll be eligible to receive your first monthly salary, while for the following months, you’re going to be required to be within the consistency parameters that are set for your Finotive Pro account based on your progress during those phases, as well as your first month fully funded.
- The next update was the change to Pro account consistency rules, which are now updated on a weekly basis.
- Another update was the introduction of a 100% profit split for Pro Challenge accounts after a 30-day calendar period of achieving funded status.
- Lastly,Finotive Fundinghas removed the risk and stop-loss rules on all challenge accounts.
Blue Guardian
Next up isBlue Guardian. They implemented a single update in January, a new withdrawal method.
- They’ve introduced Rise as a new withdrawal method, offering traders a streamlined process for requesting profit splits once they successfully qualify.
TopTier Trader
Another company that introduced a few changes isTopTier Trader,seven in total, six of them being newly introduced add-ons. So we’ll keep it concise.
- They first removed the lot size limitation rule, meaning that traders will now be able to trade without any additional restrictions on lot sizes.
- As previously mentioned, all of the remaining six updates were add-ons. They merged the two two-step funding programs that they were previously offering into a single one while adding the opportunity of six unique add-on features. Traders are now able to choose and apply any of the following six add-ons: payouts based on a 14 calendar day period, increased 90% profit split, EAs being allowed, double leverage on your trading account, weekend trading is allowed, and news trading is also allowed. So, these add-ons and the features provide traders with an opportunity to customize their trading account based on their own personal preferences and according to their trading strategy.
Leveled Up Society
Next up isLeveled Up Society, which officially went live at the beginning of January.
- They’ve reopened their doors to traders all across the globe and are now providing three unique funding programs.
Bespoke Funding
Alright, we’re on the home stretch here. But next up isBespoke Funding. They’ve implemented a couple of updates throughout January.
- The first one was the introduction of a brand new growth plan that would allow traders to increase their maximum daily drawdown, lower their payout cycle periods, and gain access to a monthly salary.
- Additionally, they also introduced Rise as their latest withdrawal method. This addition enhances the withdrawal options available to traders working with Bespoke Funding.
Goat Funded Trader
Alright, the penultimate company we’re going to cover today isGoat Funded Trader. They’ve made three changes, to be exact.
- The first one was the release of their website in Spanish.
- Now, the second update was the introduction of a scaling plan, giving traders access to numerous favourable features: on-demand payouts, maximum daily drawdown and drawdown scaling, increased profit split up to 95%, and free challenge accounts qualifying for a monthly salary.
- The last update was the introduction of the partnership with Purple Trading, which is a brokerage.
Forex Capital Funds
And last but certainly not least, we’re going to be looking atForex Capital Funds. They’ve implemented a few updates during January.
- They introduced two new funding programs, meaning that they now offer traders the flexibility to become funded through any of the three unique programs.
While these have been the updates and changes from some of the industry’s leading prop trading firms throughout January to kick off 2024, as we can see, the whole industry is evolving more and more rapidly. Prop trading firms are always looking to evolve and improve themselves, which is good news for traders.
For details about the Prop Firms January Updates, watch the Video:
Also, don’t forget to check out theDiscount Codeswe offer for various prop firms!
