Best Prop Trading Firms in Turkey

The prop trading industry is flourishing in Turkey as new firms are introduced on almost a daily basis. The number of traders who want to access a large trading capital is increasing in Turkey, offering an attractive market for prop firms. This intersection of interests from both traders and firms creates a scenario of a fast-growing prop trading industry in Turkey. To help our readers from Turkey, we have evaluated and listed the best options in the country, together with important insights and tips for success.

Prop trading industry in Turkey Explained

Prop trading has become very popular among Turkish financial traders, as it allows them to access a large trading capital that would be otherwise unavailable to many traders. As more and more Turkish traders try to get funded and manage large trading accounts, many firms have started to offer funded account challenges. This trend was further accelerated by the fact that prop firms are not required to hold a license like brokers do. This unique business model allows firms to be more flexible and launch businesses with relatively lower budgets when compared to financial brokers. The costs for prop firms are lower and the industry is thriving across the globe with a multitude of reliable brands operating in the sector. The only critical challenge for Turkish prop traders is to develop trading strategies for passing evaluations and selecting reliable firms.

Our top rated prop

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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The Trading Pit

Our rating

Licences:

N/A

Currencies:

USD

Trading Platforms:

ATAS, Quantower, R/Trader, standard platforms for CFDs

Year founded:

2022

Promo Code:

FF10 (10% off on all challenges)

Min Account size:

10,000 USD

Great prop trading firm with high profit sharing level on CFDs (80%)! Offers various CFDs and Futures challenges in 1 phase and 2 phases options. Able to access to the advanced trading platforms such as ATAS, Quantower, R/Trader, CFDs trading platforms.

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Why is prop trading so popular?

Prop trading offers traders several benefits, including access to large capital and the opportunity to trade almost risk-free. This is because prop traders are not liable for losses incurred on their funded accounts, allowing them to manage large positions and increase profit potential as their funded amount increases without significant risks. The only risk for prop traders is to fail the evaluation and lose their initial fee paid for purchasing the funded account challenge. If the trader has a well-developed trading strategy that was tested on both historical data and demo accounts, the chances for them to pass the evaluation and get a funded account increase considerably. This is why prop trading has become such a popular endeavor. Prop firms also offer traders educational resources, sometimes coupled with advanced technologies, including trading platforms and trader dashboards. If a trader is truly motivated and disciplined, they have a unique opportunity to access large trading capital and make substantial profits from these funded accounts. Prop firms typically allow their traders to withdraw up to 90% of the profits made in financial trading, which is an enormous opportunity.

The best prop trading firms in Turkey — Top Five!

Below is the list of the most reliable prop firms that either operate in or accept clients from Turkey.

Selecting the most suitable prop firm in Turkey — Exact steps revealed!

Selecting a suitable prop firm is not always about its reliability. Often, the selection process includes defining one’s goals, preferred trading assets, trading conditions, platforms, and many other details. Several conditions are general for all prop traders. Here are some of the most important factors in selecting the most suitable prop firm and achieving your financial goals in Turkey.

• Funding options — Ensure the firm offers the funded option you want to apply for
• Trading rules — Examine the firm’s rules and ensure it aligns with your trading strategy
• Trading assets and platforms — Ensure the firm offers preferred assets and platforms
• Trading conditions and fees — Spreads, trading commission, and fees for funded account challenges are also major considerations
• Education and support — for seasoned traders education is optional while for beginners it is crucial. Excellent support is critical for prop traders, no matter their experience level.

By following these steps, prop traders in Turkey can select the most suitable prop firm and increase their chances of success manyfold.

How to Pass Evaluation Challenge in Turkey

Passing an evaluation when trading from Turkey requires careful planning and execution of a trading strategy that can align with the firm’s rules and achieve a profit target in a reasonable time. If you are wondering how to pass the evaluation and get funded, here are some essential steps to begin with.

Step 1. Trade on a demo account

If you are a beginner, it is time to open a demo account and start practicing learning how to open, manage, and close trading positions. This is a crucial part of trader development and allows them to actually gain practical experience, which is the most important part of trading. While beginners need demo accounts to learn trading and test strategies, seasoned traders also use demo accounts to develop new trading methods and test in real market scenarios.

Step 2. Develop and test trading strategy

After familiarizing with trading concepts, it is time to develop a trading strategy that can pass the evaluation phase. Prop firms have strict risk rules and traders need to address those in their trading strategies. Ensure you employ a high win-rate strategy with an attractive risk-reward ratio to ensure success. Backtest trading strategy on historical price performance to check if it actually can make profits. After backtesting it is time to forward test it using a demo account.

Step 3. Select challenge account

If your strategy performs well during demo testing, it is time to use our suitable prop firm selection guide and choose a proper firm. Select the funding option you are comfortable with and start your evaluation challenge.

Step 4. Risk management

Risk management is key in financial trading, and it is even more critical in prop trading for several reasons. Firstly, prop firms have strict daily and overall drawdown limits and your strategy must avoid breaching rules. Secondly, you need to achieve a profit target while not breaching rules, which might pose a serious challenge for beginners. Proper risk management will help traders stay in the game for a long time and achieve profit targets, set by the firm.

Step 5. Evaluate and recheck

When trading on a challenge account, it is essential to evaluate your trading performance constantly. For this purpose, traders are advised to pick a enough sample size of trades to reasonably assess the performance. 25–30 trades are enough to detect if the profitability of a strategy has declined over time.

Risk Management Strategies for Prop Traders

Risk management is key in prop trading even more than traditional financial trading, as prop firms usually have strict risk limit rules. Here are the most viable risk management strategies for prop traders in Turkey:

Stop-loss orders

Stop-loss orders are cornerstones of an effective risk management plan. Stop-loss is an order type that limits losses by closing an open position when the price hits a certain predetermined level. Setting a stop-loss on a proper level greatly enhances the chances of succeeding in prop trading.

Position sizing

Selecting a proper lot sizing means traders can limit their exposure to market fluctuations. Imagine you want to risk only 100 USD per trade and your stop-loss is typically 10 pips. With 1 lot position size, you can expect each pip movement to be equal to 10 USD. Increasing lot size will increase risk and can be very risky depending on the funded amount and leverage.

Daily loss limits

Prop firms have daily loss limits typically varying between 3-5% and traders must not lose more than this percentage of their account on any single trading day. Position sizing, stop loss, and risk-reward ratios are all going to play important roles in maintaining losses below the daily limits and ensuring your account is not disqualified.

Risk-reward ratios

Risk reward is another essential concept in financial trading and refers to risks assessed against potential profits. The risk-reward shows how much traders are expecting to profit for each dollar they risk. If you risk 20 pips to gain 40 pips, then your risk-reward will be 20:40 or 1:2, meaning you are expected to win 2 dollars per 1 dollar risk.

Scenario planning

Preparing yourself for possible scenarios during trading is important. Since market volatility can sometimes become very violent, it becomes easier for the price to hit your stop-loss or even move past it. For scenarios like this, traders typically have a plan to cut losses quickly and stop trading until the volatility is stabilized and the risk of ruin is minimized.

FAQs on the Best Prop Trading Firms in Turkey