Proprietary trading firms are a dime a dozen.
However, finding the right one that suits you as a trader who values freedom and flexibility can be a bit challenging.
Many blog posts claim to provide information about no-time-limit prop firms, but they often come with hidden charges and unclear conditions.
In this blog post, there is one major constant among the firms listed.
They all offer ‘No Time Limit’ for their evaluation process.
That means, not only are these very good firms but when it comes to their evaluation, there is enough time to pass and even after getting in as a trader, you are given more than ample time to fulfil the trading requirements to remain as a trader without that dreaded ticking of a deadline clock disturbing or distracting you from your trades.
Top (5) Prop Firms With No Time Limits.
1) Willis Capital:
Willis Capital is a promising prop firm that aims at enabling skilled traders to thrive with soaring profits.
The three variety of challenge options that are to be expected from this prop firm are;
- SkillCheck Standard
- SkillCheck Expedited
- and SwiftTrade
The prop firm is geared at catering for the needs of every trader even to the level of allowing payment in installments for its SkillCheck challenge.
Among the special perks that are to be expected from this firm is the no-time limit challenge which gives you ample time to be able to pass its challenges and get funded.
No time limit
5 minimum trading days
Profit splits up to 70%
2) Fundednext:
Incorporated in March 2022, Fundednext has been in the works for two and a half years before it was launched and might seem a little confusing for a newbie trader.
It offers four different programs to choose namely:
- The Two-step Stellar Challenge model
- One-step Stellar challenge model
- The Evaluation Model
- Express model
With two evaluation phases for the first and one for each of the remaining.
However, the requirements for each program are different with the basic requirement of 10% profit being made on any of the accounts to go to the next step.
Also depending on the size of the accounts you want under each program, you would be charged a non-refundable evaluation fee.
However, you get 15% of profits made during the evaluation, when you fulfill the trading goal of making 5% profit on your funded account.
You get paid between the range of 65% to 90% depending on the account type and scale level you are on.
No time limit
5 minimum trading days
Profit splits up to 95%
Trade up to $300,000
Profit Split On Demo Challenges
3) FTMO:
Founded in the Czech Republic, in 2014.
FTMO has proven time and again to be aimed at not just utilizing talented traders but also grooming them and cultivating trading routines through her compulsory FTMO challenge for any trader that wants to join her ranks.
With an initial refundable fee of $155 for a normal risk account and $250 for an aggressive risk account, traders are taken through three stages with a minimum number of days allocated for two of those stages.
In other words, even if you meet the goal before the days expire, you must still wait and spend time trading in that stage till it elapses.
This is to build character and consistency.
Especially in the second stage; called the verification stage, the profit you are to make is half of the FOMO challenge but the days remain the same.
You first begin with 80% of the profit during testing, but after passing you get 90% of the profits.
Withdrawals can be made every 14 days.
4 minimun trading days
Profit splits up to 90%
Trade up to $200,000
4) Fundingpips:
Famously known for their 5-day payment interval, and their low evaluation fee, Fundingpips has easily gathered a wide range of traders since their incorporation in August 2022.
Based on the size of the account you want to acquire, you would be charged a non-refundable evaluation fee and go through two phases of evaluation, to make 8% and 5% profit respectively, after which you would be given a funded account to trade with no time limit or pressure.
Each account can also still be scaled upwards with each month spent on the platform coupled with the number of redrawals.
You get between 80% and 90% profit depending on your scale level, and payment is every five days, with payouts swiftly processed within three hours of the request4
Zero minimun trading days
Profit splits up to 90%
5) SurgeTrader:
As if to rival, Surge Trader although having an evaluation program grants all the time in the world to pass it.
Established in 2021, it is one of the few prop firms where you can register, pass the evaluation and become a funded trader all on the same day.
Upon Signing up, a choice of six different account types is made available with the application fee ranging from $250 to $6500 and the account funds ranging from $25,000 to $1,000,000.
As with all others, all you have to do is make a 10% profit and you have passed the evaluation.
If you fail, however, to retry there is a 20% discount available.
You get 75% of profits, however, this can be increased to 90% with add-ons.
You can redraw any amount anytime, however only once per month.
Zero minimun trading days
Profit splits up to 90%
Up tp $1,000,000 in stimulated funds
6) The 5%ers:
With 24/7 availability for trading, a boot camp program, where traders can hone their skills, biweekly withdrawals, over 28 currencies available for trading, doubling of the funding every time milestone is met, a 1-on-1 performance coaching, 24/7 customer service, The 5%ers is easily the best option among the no time limit prop firms.
To join, all you need to do is click on it and you will be given a demo account to perform three different phases called Challenges 1, 2 and 3.
After passing all three, you become a funded trader.
It is important to note that you would be charged a non-refundable fee that you would only be required to pay half when you want to start and complete only if you pass.
50% profit is given to the trader.
Withdrawals can be made every 14 days.
Profit splits up to 50%
Up to $4,000,000 in funds
Withdrawals can be made every 14 days.
What To Consider When Picking A Prop Firm
Below are things that were considered and should be considered when deciding to pick a prop firm.
The baseline of any prop firm even getting considered on this list was the no time limit criteria.
1) Profit sharing: The percentage that the trader gets on every profit made was considered before those on the list were chosen
2) Steps of evaluation: Even though there is no time limit, the number of steps in the evaluation in becoming a trader is also necessary to be considered as it points out easy and hard firms to become traders for.
The maximum to make this list was two.
3) Maximum amount of losses: There is always a maximum amount of money that is allowed to be lost during all the trades a trader makes.
This is also an essential factor to consider as some firms can set unrealistic expectations.
When exceeded, not only does the trader lose his account, but any profit or amount made that he hasn’t redrawn is seized and shared by the firm.
The lowest daily limit was 5% of trading capital.
4) Number and speed of payouts: The number of times a trader can redraw per month is another factor that was considered as well as the speed of payouts when redrawals are made.
Money isn’t truly made unless it is in hand or where is easily accessible.
5) Requirements for evaluation: Some firms do have no time limit but are next to impossible to get in.
Some are more costly than others. Only firms with cheap evaluation fees were considered.
6) Speed of acceptance: It’s one thing to pass the evaluation, it is another to be given access to a funded account. Only prop firms with the fastest time made the list.
Frequently Asked Questions (FAQs)
What are the prop trading firms that have no time limit?
Every prop firm mentioned above has no time limit, and they include Willis Capital, The 5%ers, FTMO, Fundingpips, Fundednext and SurgeTrader.
This is by no means all the prop trading firms that have no time limit, but other factors were considered and these came on top making them the best prop trading firms with no time limit.
What does the term ‘no time limit prop firm’ mean?
The term ‘No time limit prop firms’ simply refers to Proprietary trading firms that uniquely give unlimited amounts of time to traders to pass their evaluation process.
This is done in order not to mount unnecessary pressure on the traders and result in mistakes that lead to their failure.
Is it possible for a prop firm not to have an evaluation phase?
Yes, among these no-time-limit prop firms, some go a step further by totally or partially removing the evaluation process.
So that every new trader that registers automatically gets a funded account which they can use to start trading immediately.
Some are partial because while the trader is trading a real and funded account, he/she can’t redraw except after meeting certain criteria determined by the prop firm.
Are there free prop trading firms?
Yes, there are free prop trading firms and a prominent one among them is FTMO. FTMO offers free demo accounts that you can use to trade and train.
Why are the evaluation challenges of prop firms failed by most traders?
Most want-to-be-funded traders fail to pass prop firms‘ evaluation programs/challenges simply because of the following reasons: Greediness, No trading talent or skill, No risk management or discipline, lack of patience in choosing an entry point and underestimation of drawdown.
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