For aspiring traders, entering the trading world is akin to breaking the bank. They usually get disappointed because they don’t have enough funds to test their skills. This is when proprietary trading firms turn out to be their saviors. They are specialized companies with capital who lend to the traders’ funded accounts to trade on their behalf and generate profit. This profit is split between the two parties according to the pre-set ratio. However, the traders have to pass through an evaluation and prove their skills and capability to the prop firm, and only then are they eligible to get the funded account.
Evaluation tests are not free! Instead, there is a set fee that the traders need to pay to take them. However, different firms have different trading fees. Aspiring traders are primarily looking for cheaply funded accounts they can get their hands on without paying much.
This article will discuss finding the best one-step challenge prop firms for newbie traders to associate with.
Why To Look For One-Step Challenge Prop Firms?
A One-step challenge prop firm removes the financial barrier to enter the trading market. It makes professional trading reachable to new traders without personal sources to fund massive capital accounts.
There are numerous reasons why the one-step challenge is a desirable option for aspiring traders. Some of them are as follows:
- Quick and Easy
As the name specifies, the one-step prop challenge involves only a single step, and the traders can complete it immediately and have access to the funded accounts almost instantly. This swiftness in the process makes things quick and easy. It saves time not only for the traders who can’t wait to enter the market formally but also for the prop firms who have their funded accounts ready for the traders who will generate profit from them.
- Minimal Financial Risk
For the evaluation, the traders use funds provided by the firm. This means they don’t need to spend anything from their accounts, reducing their financial risk and allowing them to make bold trades.
- Low Fee
The best part about choosing a one-step challenge prop firm over others is that their fee is usually lower compared to the firms offering multiple evaluations. Newbie traders can easily pay the cost, allowing them to enter the trading market and showcase their talent. By showcasing exemplary performance, they can individually mark themselves in the market and find great success in the field, starting from a marginal fee.
- Immediate Funding
Another great benefit of the cheaply funded accounts is that the traders who pass the trial and showcase the required level of performance get their hands on the funded accounts immediately. This augments their chances of quick scalability and aids them in making their name in the trading world.
- Opportunity To Learn
Prop trading firms offering evaluations before giving traders access to the Funded account challenge give them a bright opportunity to learn. These established firms have extensive valuable resources that make trading more accessible and convenient, so connecting with prop firms is beneficial. As the new traders get access to these resources, they can consider it an excellent opportunity to learn and grow. Also, the senior traders act as mentors for the newbies, boosting their confidence and ability to make the right decisions at the right time.
2. What Sets One-Step Challenges Apart?
The one-step challenges are indeed a game changer for new traders who need more resources or funds in their accounts to make personal trades. By paying only a tiny fee to the prop firms, they can quickly enter the trading world without breaking the bank. Easily accessible and efficient in its workings, the one-step challenge is surely a dream come true for aspiring traders.
Prop firms with low evaluation fees can trade without making huge investments. This sets trading with prop firms apart from traditional trading, in which the users have to put their funds at risk.
4. Top Players in the World of One-Step Prop Firms
Though the trading world is highly saturated, and numerous firms provide class-apart services to users, some names still stand out. Some of them are:
- FTUK: Offering an exceptional 80% profit-sharing ratio.
- Forex Prop Firm: Offering diverse resources (educational or otherwise).
- The5ers: Offering varied trading plans as per the users’ needs.
- SurgeTrader: Offering extensive scalability options.
- Blue Guardian: Offering the cheapest fee options for newbie traders with a minimal budget.
Final Thoughts
Cheap-funded accounts are an excellent option for traders who want to spend the least possible while entering the trading world. When choosing a prop firm, traders need only look for compatibility, transparency, and commitment. Understanding the rules and regulations set by the company, being sure about transparency and payment rules of the firm, and making sure the trading policies align with your style of trading are necessary before picking out a one-step challenge prop firm for yourself.
