In the world of forex trading, more capital means bigger profits. Trading a thousand-dollar account will never fund the lifestyle you dream of as a trader. The house, the cars, the holidays, and the whole package are only possible through forex trading by increasing your capital.
So how to go about increasing your capital without taking a second job? Get funded trading forex. There are companies out there that offer funding for traders who can show that they are able to generate a profit, and in turn, they will give the trader often very lucrative shares in the profits they generate.
While doing my own research, I came across many prop firms offering funding for traders. With one of these firms offering up to $ 4 million in capital to successful traders.
This is a far cry from the $ 1000 account that you are currently trading, $ 4 million in capital and your profits start to make that lifestyle you dream of possible, so what does it take to get funded trading forex?
There are a few options for getting funded trading forex. One route is to pass an evaluation with a forex prop firm, and another is to buy direct funding from the prop firm, how you choose between these options is up to you and your budget.
Both have the same outcome and will give you access to a much larger account balance, but the direct funding allows you to skip the evaluation phase and get to trading immediately with a higher balance. This obviously comes at a higher expense, as the firm would usually expect you to pay the first level of possible drawdown, after all, you are asking them to risk their capital, so it seems a fair request, this option is for traders who have the budget and the confidence in their trading ability to go this route.
The other option available to you is an evaluation account, a smaller account with a much lower cost but comes with specific requirements. You need to prove yourself as a profitable trader before a prop firm will risk their capital on you, so by meeting a specific profit target in a set amount of time, you will be afforded the opportunity to trade more of the firm’s capital, the next phase usually doesn’t come with a time limit, it does, however, have a profit target, which once reached allows you access to even more capital, this process repeats itself as you reach the required profit targets.
The process of getting funded trading forex is a simple one. If you are already a consistently profitable trader, a prop firm will give you access to more capital and allow you to make more out of your trading career, giving you access to that lifestyle you dream of. Making it possible for some to change the futures for both themselves and their families.
There are a lot of options out there, so when searching for a prop firm to work with, be sure to do the necessary research. As much as you need to prove yourself as a trader, a prop firm should offer a funding solution that allows you to trade comfortably without any undue pressure.
So make sure the prop firm you ultimately decide to work with to get funding for your trading going forward has both reasonable profit targets as well as does not put pressure on you to complete the profit target in an unreasonable amount of time. This, of course, will vary from trader to trader, so while recommendations are easy to find online, time should be taken, and you should do your research to be sure that your trading strategy is aligned with the funding model you choose. This will make the likelihood of both immediate successes as well as sustaining that success in the future far more likely.