Proprietary trading firms that offer only simulated trading accounts.

These firms focus on inexperienced crypto traders, providing only simulated trading accounts without real capital. They often operate on CFD platforms characterized by wicks, high fees, swap fees, and unfavorable conditions for serious crypto traders. The trading challenges set by these firms are typically easier and less expensive, with profit targets of about 6-12%. The aim is not to pay traders in the long term but to collect evaluation fees, make a few payouts to successful traders, and then create conditions that disadvantage the trader. Traders might receive a payout or two but are likely to face bans or worsened trading conditions without clear reasons. These firms often operate on CFD platforms or have their own trading platforms, which they can manipulate. For retail traders, it can be difficult to identify such firms due to paid reviews and good social media presence. Before signing up, always check the trading platform and the challenge conditions (if it’s cheap or seems too easy, it might be a scam). FTMO stands out as one of the most reputable Forex proprietary trading firms, known for offering high-quality simulated trading experiences. You can trust this company for its integrity and commitment to helping traders succeed. However, it’s important to be cautious, as there are dozens of other firms whose intentions may not align with supporting traders’ growth.