What are the best prop firms with no evaluation?

No evaluation prop firms might be very attractive as they do not require performance checks before granting traders their capital for trading. Proprietary firms may offer this service to experienced traders. However, there are some risks of using no evaluation accounts and traders must ensure the firm is safe and reliable before applying for funded accounts.

On our platform, we conduct thorough research and evaluation for every prop firm, which allows us to check and measure important metrics of prop firms without bias. This is crucial to detect any scams and fraud and ensure our readers can select the best prop firms without much research and effort. Below we are going to discuss and list the best prop firms without the evaluation phase. Our no evaluation prop firms rating is one of the most reliable and unbiased sources of information.

Understanding No Evaluation Prop Firms

Proprietary firms or prop firms are financial companies providing traders with large trading capital. Prop firms have special evaluation phases that allow them to check traders’ performance within the required risk parameters. No evaluation prop firms refer to prop trading firms that do not require traders to pass any evaluation before granting them the firm’s capital for trading.

Eliminating evaluation allows traders to directly trade with the firm’s capital, which can be appealing to traders who have significant experience in financial markets and just want to access large trading capital. However, the absence of evaluation does not mean that the trading environment is less stringent and traders will typically be subject to risk management rules and other policies. Traders should carefully read our reviews or check the website of the firm to see the list of rules and requirements.

Our top rated prop

Trader5

Our rating

Licences:

N/A

Currencies:

EUR

Trading Platforms:

Custom

Year founded:

2024

Promo Code:

N/A

Min Account size:

10,000 EUR

Trader5 Forex is a relatively new reliable firm with a 90% profit split and fast payouts. Enjoy 78-day payouts and starting fee of less than 100 EUR.

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Recommended

Blue Guardian

Our rating

Licences:

N/A

Currencies:

USD

Trading Platforms:

MT4

Year founded:

2019

Promo Code:

N/A

Min Account size:

10,000 USD

Blue Guardian offers $0 withdrawal fees, access to MetaTrader 4, no profit target after the audition, up to 85% profit split, and very low fees starting from $87.

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Funded Trading Plus

Our rating

Licences:

N/A

Currencies:

USD

Trading Platforms:

MT4, MT5

Year founded:

2013

Promo Code:

N/A

Min Account size:

5,000 USD (229 USD on Instant funded account)

Funded Trading Plus Forex prop firm is a solid player in the space. The firm offers funding for Forex trading from 5,000 to 250,000 USD and a scaling plan up to 2,500,000 USD.

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Top prop firms with no evaluation

Selecting the best no evaluation prop firms – A quick guide

When signing up for a forex prop firm no evaluation is a very rare occurrence. It is justified that prop firms need to ensure their traders have skills and do not lose their capital. Top no evaluation prop firms target experienced traders and offer attractive conditions. However, some scams and fraud may pose as a safe firm that requires no hassle to get funded, but they will have hidden rules to collect fees from traders. It is crucial to read our reviews and to research the prop firm’s legitimacy before applying. In our list of best firms with no evaluation, the companies listed are well-tested and reviewed. Here are the exact guidelines for selecting the best no evaluation prop firm:

• Research and due diligence – start by researching different no evaluation prop firms. Read reviews to check what other traders have to say about the firm. Thoroughly research information on their reputation, track record, and online comments.
• Trading instruments – ensure the prop firm offers instruments you want to trade. Some excellent futures prop firms do not offer other assets, making it useless for Forex or stock traders.
• Fees and profit sharing – It is important to check the firm’s fees for no evaluation accounts, as often these accounts will be more expensive than normal evaluation accounts. This is because the risks are higher for a prop firm. See their structure of payout policies and profit share percentage. Some firms allow one withdrawal per month, while some offer twice-per-week payouts.
• Risk limits and general rules – This is the most essential aspect of selecting a prop firm. Rules define what are daily loss limits, maximum drawdown limits, accepted trading strategies, etc. Without properly researching the rules, you are risking losing the funded account whenever any of these rules get broken.
• Trading platforms and tools – check if the firm offers any of the popular platforms for the asset such as MT4, MT5, cTrader, WebTrader or any other advanced platforms suitable for trading the asset. Ensure they meet your technical requirements.
• Funding options – Find out the range of funded accounts and whether the firm offers a comfortable amount of capital. Depending on your requirements. A larger capital allocation allows you to take larger positions.
• Support quality and options – It is almost a must to select the prop firm that has a live chat. This option is the fastest way to contact the firm and resolve any issues in no time. Other support methods such as email and phone will require significant efforts and costs to find a solution to your issue.

The pros and cons of trading with free evaluation prop firms

Despite having distinct advantages of starting to make profits right away, there are still some cons when opting for prop firms without any evaluation. Forex prop firms without challenge can be the fastest way to start controlling a significant amount of capital, which is very flexible for experienced traders but can be risky for beginners. Let’s consider both pros and cons.

Pros of trading with no evaluation prop firms

• No evaluation phase – Traders can start trading on the live funded account with the firm’s capital and earning profits, bypassing the evaluation process.
• Access to capital – Direct access to the firm’s capital, allowing for larger positions and potentially higher profits faster. The most important thing here is time, directly accessing the firm’s capital and making profits from the first day of trading is much less frustrating and promotes motivation among experienced traders.
• Reduced financial risks – similar to evaluation accounts, funded accounts without evaluation bear no risks of eligibility for lost money during trading operations. This is one of the benefits of trading on the funded accounts.
• Less pressure – The absence of an evaluation phase reduces stress levels as traders are not under performance pressure to pass the evaluation without payouts. Traders who opt for no evaluation accounts start making profits right away, which reduces frustration and stress levels.

Cons of trading with no evaluation prop firms

• Limited oversight – Traders have fewer performance checks and evaluations, which can be bad for both the firm and the trader. Traders learn to strictly follow risk limits and monitor their progress when trading on accounts with an evaluation phase. Having limited oversight is risky for the prop firm.
• Risk management – Firms that offer no evaluation accounts might have stricter risk limit rules to reduce exposure of their capital to market risks. Traders will adhere to these rules not to lose their funded account, which may be more difficult.
• Profit sharing – Some firms may have a lower profit share for no evaluation accounts. While not always the case, lower profit share can impact profitability significantly. Generally, the main downside of funded trading is that traders can only withdraw a certain percentage of profits made in trading.
• Restricted autonomy – Many prop firms have restrictions and rules for certain trade styles and strategies. This can greatly impact a trader’s profitability. Traders might be forced to develop novel approaches and new strategies to align with the firm’s requirements.

Why do the majority of prop firms have an evaluation?

There are certain intuitive reasons why the vast majority of prop firms require evaluation phases before giving traders trading capital. The most important one is to mitigate risks by selecting the best traders who can make profits and not lose the firm’s capital. Prop firms need to ensure traders can perform profitably within the specific risk parameters to protect their capital. The evaluation phase with risk requirements is the easiest way to select the most profitable traders. Evaluation allows firms to maintain standards of trading quality and performance. Only a minority of traders who prove their trading skills are allowed to trade with the firm’s capital. The evaluation phase is the most convenient way to gauge the trader’s competence and profitability and to detect if they are trading using allowed methods. Despite the profitable trader selection, the evaluation process can also promote trader development. This process can also be used to train traders and check their skills learned from trading courses offered by the firm. Traders can learn the firm’s trading strategies and rules during this period. Since only successful traders move on to trade with the firm’s capital, the firm has more available capital to find profitable traders instead of losing ones. The evaluation process enforces discipline and adherence to risk management protocols, which is a fundamental quality for trading success.

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