5 Best Prop Trading Firms in Canada
What is a Prop Firm?
A proprietary trading firm ("prop firm") allows you to trade with the firm's capital rather than your own money. You typically pay an evaluation fee, pass certain trading-challenges (profit target + risk-limits), and if successful you trade a "funded" account. You then split profits with the firm. Many Canadian-friendly prop firms follow this model.
In Canada, while prop firms are legal, many are not regulated like typical broker-dealers. They often operate internationally but accept Canadian residents.
Overview Table: 5 Best Prop Trading Firms in Canada
| Prop Firm | Funding Model | Profit Split (Trader's Share) | Trading Instruments | Why It Stands Out |
|---|---|---|---|---|
| FTMO | Two-step evaluation (Challenge → Verification → Funded Account) | Up to 90% | Forex, Indices, Commodities, Crypto | Trusted globally for transparency, analytics tools, and fast payouts |
| The 5%ers | Instant or low-risk evaluation model | Up to 80% | Forex, Indices, Metals | Ideal for risk-averse traders focusing on steady, long-term growth |
| Topstep | Simulation-based Trading Combine for Futures/Forex | Up to 90% | Futures, Forex | Best for futures traders; includes training, mentorship, and discipline programs |
| MyForexFunds (MFF) | Multiple programs — Rapid, Evaluation, Accelerated | Up to 85% | Forex, Indices, Commodities | Affordable entry and instant funding; Canadian-founded firm |
| Lux Trading Firm | Real capital trading after evaluation with scaling | Up to 85% | Forex, Stocks, Commodities, Indices | Supports long-term trading and offers mentorship with a Canadian presence |
Five Good Choices for Canadian Traders
Here are five of the most reputable proprietary trading firms that welcome Canadian traders. Each offers different trading styles, funding models, and profit-sharing structures. Always review their terms before joining to find one that best fits your goals and risk tolerance.
1. FTMO
FTMO is one of the most recognized and trusted names in the global prop trading industry. Founded in Prague, Czech Republic, it has gained international credibility for its transparent model and timely payouts.
FTMO provides traders with a two-step evaluation process—a "Challenge" followed by a "Verification." Once you meet the profit target within the risk limits, you qualify for a funded account. The firm supports various instruments, including forex, commodities, indices, and crypto, all tradable on MT4, MT5, and cTrader platforms.
Key Highlights:
- Profit split up to 90% in favor of the trader.
- Comprehensive trading analytics dashboard for performance tracking.
- Quick and reliable payout system in multiple currencies, including CAD.
- Excellent community and support, making it beginner-friendly.
Why it stands out: Its strong global reputation, fair evaluation rules, and excellent trader support make FTMO a top choice for both novice and experienced Canadian traders.
2. The 5%ers
The 5%ers is a low-risk prop firm headquartered in Israel but open to traders worldwide, including Canada. It emphasizes risk management and steady growth over aggressive trading.
Rather than focusing on high short-term profits, The 5%ers rewards traders who demonstrate consistency and discipline. It also offers instant funding programs, allowing qualified traders to skip lengthy challenges and start trading real funds immediately.
Key Highlights:
- Low-risk trading model with drawdown-friendly accounts.
- Scaling plan that can increase your capital up to $4 million.
- Flexible trading conditions – trade forex, indices, or metals.
- One of the few firms that encourages long-term profitability instead of short-term gains.
Why it stands out: Ideal for risk-averse Canadian traders seeking stable growth and a more relaxed evaluation structure.
3. Topstep
Topstep, based in Chicago, is best known for its futures trading programs and a structured, education-driven approach. Canadian traders interested in futures or commodities will find this firm particularly appealing.
It offers a simulation-based evaluation called the Trading Combine, where traders prove their consistency before being funded. Topstep emphasizes trader education, offering mentorship, webinars, and performance coaching—making it one of the best firms for those still refining their skills.
Key Highlights:
- Focuses on futures and forex trading.
- Offers extensive educational resources for new traders.
- Daily loss limits and risk rules encourage professional discipline.
- Fast payout process once you qualify.
Why it stands out: Topstep combines funding with education, making it the ideal choice for Canadian traders who value guidance and structure along with real market exposure.
4. MyForexFunds (MFF)
MyForexFunds was founded in Canada and quickly became one of the fastest-growing prop firms globally before expanding operations. Although it briefly faced operational issues in 2023, it has since restructured and remains a popular option for traders due to its flexible funding models.
The firm offers three main programs—Rapid, Evaluation, and Accelerated—each designed for different experience levels and risk preferences. It supports forex, commodities, and indices, giving traders multiple ways to grow.
Key Highlights:
- Competitive profit share up to 85%.
- Instant funding option for experienced traders.
- Affordable entry fees and beginner-friendly challenges.
- Canadian origin, making it appealing for local traders.
Why it stands out: MyForexFunds offers affordability, variety, and flexibility, making it one of the best choices for traders starting their prop journey in Canada.
5. Lux Trading Firm
Lux Trading Firm is a European-based prop firm with growing recognition in Canada, particularly due to its local presence in Calgary, Alberta. It provides access to multiple trading instruments, including forex, stocks, and commodities, and emphasizes sustainable trading practices.
The firm follows a realistic scaling plan that gradually increases a trader's capital based on consistent profitability. Lux also allows holding trades overnight and over weekends—something many prop firms restrict.
Key Highlights:
- Real capital trading with scaling opportunities up to $10 million.
- Flexible trading rules suited for swing and position traders.
- Multiple platforms supported, including MT4, MT5, and TradingView.
- Strong focus on trader mentorship and risk education.
Why it stands out: Lux Trading Firm appeals to Canadian traders who value flexibility, longer-term trading styles, and a local connection within the prop trading community.
Final Thoughts
For Canadian traders looking to join a prop firm, the five above provide solid starting points. But remember: joining a prop firm is not a guarantee of profits. The evaluation process is a real challenge, you'll still need a good trading strategy, strong risk management, and discipline.
Also bear in mind taxes: any profits you keep will need to be reported in Canada. And because many firms are international, ensure you understand how the payouts, currency conversions, and legal obligations apply for your province.