Prop Trading Newsletter for the Week of June 26, 2023 

I think I’m going to change the name of this newsletter every week until something sticks. What do you think about this for a banner? I don’t mind something a bit pretentious.  

Favorite Current Promos

Topstep – 20% off monthly subscription

Topstep’s promo continues to set the gold standard. You can’t beat a great rate for a great product.

My history with the futures market goes like this:  A long, long, long time ago I took a Futures and Options course at my university. Then I barely thought about it for like 30 or so years, and then I signed up with TopStep. 

I didn’t remember a single thing from my Futures and Options class except for the fact that I had a huge presentation as part of our final. The presentation was to be 10 minutes. My partner was supposed to do five and I was going to do five. My partner went first, panicked, and went about a minute and a half. I had to kill the rest of the time, which I did with a lot of overly dramatic pauses. I might have had an A if it was drama class. I took a B- instead. 

The point is, I didn’t recall anything about futures, but I’d only heard good things about Topstep, so I gave them a shot. I went through their online seminars, took advantage of all of their free coaching opportunities, and watched their videos. It took a few months, but it wasn’t long before I started making money. If I could remember the name of my professor who gave me the B-, I’d send him a copy of a few of my Topstep payout slips. 

True Forex Funds – 10% off

TFF is offering 10% off for any of their Phase 1 accounts if you verify yourself on their Discord Channel (more on that below)

The Funded Trader – 5% off, 92% profit share

As far as the Funded Trader goes, this is actually a pretty weak promo. Honestly, I’d wait a week if you don’t think you’ll be passing up any great trade opportunities. TFT typically starts new promos at the beginning of the month, and I would guess that the July promo would be better than this one. 

I say that for two reasons: 1) almost all their promos are better than this one and 2) July is a pretty slow month, so I think they’ll really have to lay down some heavy incentives if they want to lure in new traders. 

Fidelcrest – No current promo

Why do I put Fidelcrest in my favorite promo list when they don’t actually have any promos? You know that old saying about the weather in New England? “If you don’t like the weather, just wait a few minutes.”  That about sums up Fidelcrest’s promos. As I write this on Monday morning, they don’t have any promos running. By the time you read this, that may have changed. 

As annoying as this is, Fidelcrest does offer some of the best promos in the prop trading biz. In the past they’ve offered 200% refunds, 2×1 accounts, 15%, and more. So they are worth keeping an eye on. When they do offer a flash sale, it is posted on their site, so you can just visit the Fidelcrest page yourself.  Or you can check out my prop firm promo page, which I always keep updated. I also just opened a Twitter account. My legions of followers (5) are the first to know about some really great prop firm deals.

Recent Prop Firm News

True Forex Funds – I stepped all over this breaking news in the promo section, but TFF reopened their Discord! I love Discord. I think it’s the best way to really get a glimpse of a particular prop firm’s culture, their attitudes towards their traders, the skill and speed of their customer service, and much more. If you’re contemplating a prop firm, always give their Discord a good read. I really like TFF, and I’m happy they are reopening their online community. 

Topstep – Topstep announced that they are offering 12 new products. Beginning immediately, Topstep traders can sling micro gold, micro crude oil, micro bitcoin, the Mexican Peso, Platinum and more. Twelve more reasons to take advantage of their great promo and join Topstep.

FTMO – It feels like FTMO hasn’t changed since their inception in 2015. They have, of course, but the prop trading world moves so fast, with so many new companies in the mix, it seems like FTMO is standing still. They just do what they do, without a lot of promos or splashy advertisements, which is why this meme they shared on Facebook seemed so appropriate. FTMO just blocks out the noise, keeps all their promises, makes all their payouts and remains an industry leader, while so many new firms try to tear them down. That’s why I loved this meme they posted on Facebook, it pretty much sums FTMO up:

Upcoming Economic Calendar

It’s a fairly quiet economic week coming up. The European Central Bank (ECB) is hosting one of their annual forums and there will be speeches from the president of the ECB as well as Chairman Powell and the president of the Bank of England as well. I’m not expecting anyone to rock the boat, however. Beyond that the US and UK announce first quarter GDP numbers and we’ll get some consumer price data out of the EU later on in the week. Might be a good week to finally get that long overdue colonoscopy. 

Feel-good Prop Firm Story of the Week

I wanted to use this section to highlight prop trading firms that are doing some good in this world, but it turns out this might be a hard space to fill. Seems like giving back isn’t such a priority to most prop firms. Who knew?  

So for the second week in a row, I’m highlighting SurgeTrader, who are giving out big checks to some very worthy causes across the US. This week they gave a fat $50K to Big Sky Bravery, a non-profit that helps Montana veterans. If you know of any other prop firms that actually care about the world around us, shoot me an email!