Explore the best multi-asset prop firms for traders seeking diverse market access and profitable opportunities across various asset classes.

Multi-asset proprietary trading firms give traders access to various markets, such as forex, stocks, futures, cryptocurrencies, and commodities, all through one account. These firms use their own capital, making them more aligned with market outcomes. For U.S. traders, firms like The Trading Pit, Apex Trader Funding, TradeDay, ThinkCapital, and Hudson River Trading offer unique benefits. For additional perspective, review LuxAlgo’s article on prop-trading pros and cons. Here's a snapshot:

  • The Trading Pit: Wide asset variety, simple fees, and strict risk management.
  • Apex Trader Funding: Futures-focused, high profit splits (up to 100 percent), and flexible account sizes.
  • TradeDay: Futures-only, straightforward structure, and low commissions.
  • ThinkCapital: Multi-asset trading with flexible platforms and competitive fees.
  • Hudson River Trading: Tech-driven, high-frequency trading, but not for retail traders.

Quick Comparison

Firm Assets Profit Split Key Feature Drawback
The Trading Pit Forex, CFDs, Stocks, Cryptos 80-85% Broad market access Strict risk rules
Apex Trader Funding Futures 90-100% High profit splits Limited to futures
TradeDay Futures 75-80% Simple fees and structure Narrow asset range
ThinkCapital Forex, Cryptos, Commodities 70-85% Multi-platform options Limited U.S. platform access
Hudson River Trading All major classes N/A Advanced tech-driven trading Not open to retail traders

Each firm caters to different trading styles and goals. Choose based on asset access, fees, profit splits, and trading platforms.

I Ranked The BEST Prop Firms | Tier List (UPDATED)

1. The Trading Pit

The Trading Pit

The Trading Pit (TTP) has established itself as a prominent multi-asset proprietary trading firm, operating in more than 180 countries[2]. Known for its diverse range of asset classes and flexible account options, TTP provides traders with the tools they need to execute multi-market strategies effectively.

Asset Class Availability

TTP offers a wide array of trading options, including Forex, Stocks, ETFs, Futures, Options, and Cryptos, all accessible through a single account[1]. This setup allows traders to either focus on a specific asset class or mix and match based on their expertise and strategy[3].

For those seeking specialization, TTP provides dedicated CFD and Futures accounts. At the same time, it enables traders to combine various asset types - such as Futures, Forex, CFDs, Stocks, and Cryptos - during trading challenges[2][3]. This flexibility opens up opportunities across global markets, ensuring that traders aren't confined to a single asset category.

Spreads and Commissions

TTP keeps its commission structure straightforward and consistent, charging a flat $5.00 per round lot for several major asset classes[2].

Asset Class Commission Structure
Forex $5.00 per round lot
Metals $5.00 per round lot
Energies Futures $5.00 per round lot
CFD Cash Indices $5.00 per round lot
CFD Futures $5.00 per round lot
US Equities 0% commission
EU Equities 20% commission
UK Equities 20% commission
Cryptos 20% commission

The 0% commission on US equities makes TTP particularly appealing to traders focused on the American stock market. Meanwhile, the flat $5.00 rate for Forex and Futures ensures predictable costs, which is a significant advantage for those managing trading expenses.

Leverage Policies

TTP takes a conservative approach to leverage, emphasizing risk management over aggressive trading. Instead of promoting specific leverage ratios, the firm requires traders to demonstrate consistent, responsible risk management throughout their trading challenges[4].

A strict "Gambling Policy" is in place to prevent reckless trading behavior. Overleveraging is prohibited, and traders are expected to use stop-loss orders and manage trade sizes carefully to mitigate potential losses[5].

To enforce this policy, TTP actively monitors trading activities. Violations can result in penalties ranging from trading restrictions and reduced leverage access to profit revocation or even account termination[5]. This framework rewards disciplined trading and discourages high-risk strategies, aligning with TTP's focus on sustainable practices.

Platform Compatibility

TTP tailors its platform configurations to the account type traders select, whether for CFDs or Futures[6]. This flexibility ensures that traders can work within their preferred environment while maintaining access to the full range of asset classes.

With operations spanning over 180 countries, TTP's platform is designed to meet diverse regulatory and market requirements. This global adaptability makes it a suitable choice for traders regardless of their location[2].

2. Apex Trader Funding

Apex Trader Funding

Apex Trader Funding is a proprietary trading firm with a primary focus on futures markets, serving traders in over 150 countries. To see how futures fit within a broader approach, review LuxAlgo’s overview of futures trading strategies. While its specialty lies in futures, it also offers instruments across multiple asset classes, making it a good fit for those looking to diversify their trading strategies within the futures space.

Asset Class Availability

Apex Trader Funding provides access to futures across eight major asset categories, sourced from top exchanges like CME, COMEX, NYMEX, and CBOT [7][9]. Their offerings include popular indices such as the E-mini S&P 500, E-mini NASDAQ 100, Mini-DOW, and Russell 2000, along with international options like the Nikkei NKD, DAX Index, and Euro Stoxx 50 [7].

For currency traders, the platform covers major pairs, including futures for the Australian Dollar, British Pound, Canadian Dollar, Euro FX, Japanese Yen, Swiss Franc, and New Zealand Dollar [7]. In agriculture, traders can access key commodities like Lean Hogs, Live Cattle, Corn, Wheat, Soybeans, Soybean Meal, and Soybean Oil [7]. The energy sector includes Crude Oil, Mini Crude Oil, Natural Gas, E-mini Natural Gas, and Heating Oil contracts [7]. Metals trading spans precious and industrial options, such as Gold, Silver, Copper, Platinum, Palladium, E-mini Silver, and E-mini Gold [7].

For interest rate exposure, the firm offers a range of Treasury futures, including the 2-Year Note, 5-Year Note, 10-Year Note, and 30-Year Bond, as well as European instruments like the Euro-Bund and Euro-Bobl [7]. Micro contracts are also available, featuring options like Micro E-Mini S&P 500, Micro E-Mini Nasdaq-100, E-Micro Gold, and Micro Crude Oil. Additionally, the platform provides cryptocurrency exposure through Micro Bitcoin and Micro Ethereum futures [7]. This extensive selection caters to traders seeking diverse market opportunities.

Spreads and Commissions

Apex Trader Funding operates with a clear and straightforward commission structure that varies by platform. For Rithmic accounts, commissions range from $0.84 to $5.58 per contract, while Tradovate accounts charge between $0.60 and $4.64 per contract [8]. Monthly fees cover platform access and live data feeds. Traders can reset standard evaluations for $80 each, while resets for Tradovate Plan accounts cost $100. Once funded, account holders pay a monthly fee of $85 for standard accounts or $105 for Tradovate Plan accounts, with the ability to manage up to 20 accounts per trader [7]. This setup ensures consistent monthly costs regardless of trading volume.

Leverage Policies

Apex Trader Funding provides 1:35 leverage on funded accounts, with funding levels ranging from $25,000 to $300,000 [9]. Traders must meet a 6 percent profit target while following strict risk management rules. Instead of daily drawdown limits, the firm uses a trailing threshold system that evaluates overall account performance, including open positions [9].

Account Size Monthly Fee Max Loss/Trailing Threshold
$25,000 $147 $1,500
$50,000 $167 $2,500
$75,000 $187 $2,750
$100,000 $207 $3,000
$150,000 $297 $5,000
$250,000 $517 $6,500
$300,000 $657 $7,500

Platform Compatibility

Apex Trader Funding supports both Rithmic and Tradovate platforms, offering traders the flexibility to choose their preferred trading environment [8]. Both platforms provide full access to futures markets, but traders are required to close positions by 4:59 PM ET to mitigate overnight risks [9].

3. TradeDay

TradeDay

TradeDay stands out among proprietary trading firms with its exclusive focus on futures trading. For a framework on pattern recognition in trending markets, see LuxAlgo’s Price Action Concepts introduction. Unlike more diversified firms, TradeDay keeps things straightforward by offering live funding to traders who successfully complete their evaluation. The emphasis here is on clarity, simplicity, and rewarding consistent performance [10][11].

Asset Class Availability

TradeDay provides access to a wide variety of futures contracts, covering equity indices, currencies, fixed income, energy, metals, and agricultural products. Here's a breakdown of the offerings:

  • Equity Indices: Includes popular contracts like E-mini S&P 500, Micro E-mini S&P 500, E-mini Nasdaq-100, and E-mini Russell 2000.
  • Currencies: Features major currency futures such as 6A (Australian Dollar), 6B (British Pound), 6C (Canadian Dollar), 6E (Euro), and more.
  • Fixed Income: Ranges from 2-Year T-Notes to Ultra Bond Futures.
  • Energy: Covers Crude Oil, Micro Crude Oil, E-mini Crude Oil, and Natural Gas variants.
  • Metals: Offers Gold, Silver, Platinum, and Copper futures, including micro versions for Gold and Silver.
  • Agricultural Products: Includes contracts for Lean Hogs, Live Cattle, Soybeans, Corn, Wheat, and Soybean Oil and Meal.

This focused product lineup is paired with a streamlined commission and leverage structure, ensuring traders have access to essential markets without unnecessary complexity.

Spreads and Commissions

TradeDay uses a straightforward commission model, with rates varying by asset class from $0.66 to $3.11 per contract [13]. Importantly, funded traders are not charged additional trading commissions [12]. Micro contracts, in particular, offer low commission rates, making them ideal for those managing smaller positions or gaining experience.

Asset Class Contract Example Commission
Equity Index E-mini S&P 500 (ES) $2.34
Equity Index Micro E-mini S&P 500 (MES) $0.77
FX Futures Euro FX (6E) $2.56
FX Futures Micro Euro FX (M6E) $0.66
Energy Crude Oil (CL) $2.46
Energy Micro Crude Oil (MCL) $0.92
Metals Gold (GC) $2.56
Metals Micro Gold (MGC) $0.92
Agricultural Corn (ZC) $3.06
Bonds 10-Year T-Note (ZN) $1.76

Agricultural futures tend to have the highest commissions, while micro contracts offer some of the lowest, starting at just $0.66. Bond futures fall in the middle, with rates around $1.76 for 10-Year T-Notes.

Leverage Policies

TradeDay provides leverage through its partnership with Tradovate, offering traders access to buying power without requiring full account deposits [14]. Instead, traders operate with a simulated balance that represents their available capital.

Leverage allows traders to control larger positions with less capital, but TradeDay enforces clear limits. For example, a $50,000 account can start with up to five mini contracts [14]. To manage risk, the firm applies a Trailing Maximum Drawdown, which caps the total loss a trader can incur. Between October 2023 and March 2024, the evaluation pass rate stood at 28.2 percent, reflecting a rigorous yet achievable standard for disciplined traders [14].

Platform Compatibility

TradeDay works exclusively with Tradovate to manage funded accounts [14]. This integration ensures a streamlined experience, offering traders a dedicated platform for executing futures trades efficiently.

4. ThinkCapital

ThinkCapital

ThinkCapital, powered by ThinkMarkets, delivers a multi-asset trading experience tailored to different trading styles. Complement this with LuxAlgo’s guide to forex trading basics if you plan to focus on currency markets. With three account options - Lightning, Dual Step, and Nexus - the platform caters to varying risk preferences and strategies. Its integration with TradingView also allows traders to implement strategies directly from their preferred charting platform.

Asset Class Availability

ThinkCapital offers a wide range of assets, including Forex, cryptocurrencies, commodities, and indices [19]. This variety gives traders the flexibility to diversify their portfolios, helping to manage risk and minimize volatility during market swings [16]. The asset selection includes:

  • Forex: Major currency pairs
  • Cryptocurrencies: Popular options like Bitcoin and Ethereum
  • Commodities: Precious metals such as gold and silver, along with energy assets like oil
  • Indices: Major global indices

This broad selection supports a variety of trading strategies, providing opportunities for both short-term and long-term investments.

Spreads and Commissions

ThinkCapital provides two pricing models: raw spreads with commissions on MT5 or commission-free spreads on ThinkTrader [18]. Here’s a breakdown of the commission structure for MT5:

  • Forex: $4.00 per lot with raw spreads
  • Commodities (Gold/Silver): $4.00 per lot
  • Indices: No commission
  • Oil: No commission
  • Cryptocurrencies: No commission

This setup appeals to different trading preferences. Traders who prioritize tight spreads, such as high-frequency traders, often lean toward the MT5 model. On the other hand, those looking for simplicity in fee calculations may prefer ThinkTrader’s commission-free approach [17]. However, it’s worth noting that spreads on MT5 tend to be higher compared to ThinkTrader [20].

These cost structures complement ThinkCapital’s flexible leverage options.

Leverage Policies

  • Lightning accounts: Conservative leverage, with Forex capped at 1:30
  • Nexus accounts: Higher leverage, allowing up to 1:100 on currency pairs [15]

This flexibility empowers traders to choose leverage levels that align with their risk tolerance and trading goals.

Platform Compatibility

ThinkCapital supports multiple trading platforms, including TradingView, MetaTrader 4, and ThinkTrader. This compatibility allows traders to execute strategies seamlessly from their preferred tools [15].

Additionally, ThinkCapital enforces strict risk management measures. Traders who violate risk policies may face warnings, account restrictions, or even termination [21].

5. Hudson River Trading

Hudson River Trading

Hudson River Trading (HRT) is a major player in the world of automated trading, operating across more than 100 global markets [22][23]. Since its founding in 2002, HRT has combined the roles of a technology company and a trading firm, setting itself apart with a strong focus on innovation and data-driven strategies.

HRT emphasizes its tech-first mindset, describing itself as:

"HRT is first and foremost a math and technology company. We are engineers and researchers working as one team to solve difficult problems, and trading millions of shares a day on the world's financial markets." [22]

In 2024, HRT achieved nearly $8 billion in net trading revenue, handling 10 percent of U.S. stock-trading volume across more than 200 markets [25]. If you are building oscillator-based intraday systems similar to HRT’s approach, see LuxAlgo’s Oscillator Matrix overview.

Asset Class Availability

HRT provides a wide range of asset classes, trading in six key areas: fixed income, equities, foreign exchange, commodities, energy, and digital assets [23]. The firm's expansion into systematic credit and other alternative strategies highlights its ongoing efforts to diversify. One standout area is its Prism unit, which focuses on hedge-fund-style trading strategies and delivered profits exceeding $2 billion in 2024 [25].

Spreads and Commissions

Unlike traditional proprietary trading firms, HRT's revenue model is centered on market-making. Instead of charging spreads or commissions to individual traders, the firm earns small profits by executing high volumes of transactions [24].

HRT generates revenue through bid-ask spreads in the markets where it acts as a liquidity provider. Its algorithms are designed to maintain competitive pricing while leveraging high-frequency trading strategies to ensure profitability. By the end of September 2024, HRT held a 4.7 percent market share in wholesale market making - an impressive position, even if it trails the industry's top players [25].

Platform Compatibility

HRT relies on its proprietary systems to execute high-frequency, algorithmic trading across more than 200 markets [25]. These systems are engineered to handle the complexities of modern trading while maintaining speed and efficiency.

Advantages and Disadvantages

When it comes to choosing a multi-asset prop firm, understanding the pros and cons of each option is key to finding the right fit for your trading style. LuxAlgo’s primer on risk management in trading is a helpful companion as you weigh the factors below.

The Trading Pit stands out with its competitive spreads and access to a wide range of markets, making it ideal for traders focused on diversification. On the flip side, its strict risk management rules might not appeal to those with a more aggressive trading style.

Apex Trader Funding has built a strong reputation in the futures trading space, having paid out over $200 million as of June 2024 [26]. It offers some of the best profit splits in the industry, ranging from 90 percent to 100 percent. However, its futures-centric approach may not suit traders looking for exposure to other asset classes.

TradeDay offers compatibility with multiple platforms and reasonable leverage options, making it a solid choice for many traders. That said, its narrower selection of assets might be a drawback for those wanting broader options.

ThinkCapital is known for its competitive challenge fees, which range from $39 to $949, and maintains a strong Trustpilot rating of 4.5/5 [26]. However, U.S. traders are limited to using the ThinkTrader platform, while international traders have access to MT5 - an issue for those who prefer advanced charting tools.

Hudson River Trading, a tech-driven market maker, excels in technology and scale but is not accessible to retail traders, making it less relevant for individual prop trading.

It’s worth noting that prop trading is no easy feat. Success rates for passing challenges are around 5-10 percent [28], and only about 20 percent of funded traders ultimately receive payouts [29]. These figures underscore the demanding nature of this field across all firms.

Here’s a side-by-side look at the key features of each firm:

Prop Firm Asset Classes Profit Split Platform Key Advantage Main Limitation
The Trading Pit Forex, CFDs, Indices, Commodities 80-85% MT4/MT5 Competitive spreads and broad access Strict risk management rules
Apex Trader Funding Futures (primary) 90-100% Proprietary Proven payout record Futures-focused approach
TradeDay Forex, Stocks, Indices 75-80% Multiple platforms Solid platform compatibility Narrower asset selection
ThinkCapital Multi-asset 70-85% ThinkTrader (US only) Low challenge fees Platform restrictions for U.S. traders
Hudson River Trading All major classes N/A (market maker) Proprietary Advanced technology and scale Not accessible to retail traders

For U.S. traders, regulatory constraints often limit platform options and leverage. A profit split of 80 percent or higher is generally considered excellent [27], making firms like Apex Trader Funding and The Trading Pit particularly appealing for their compensation structures.

Ultimately, the key to success lies in aligning your trading style with a firm's strengths while being prepared for the challenges that come with prop trading. Look for firms with strong feedback on payout reliability, fair challenge rules, and professional support [27]. While profit splits and asset variety are important, they shouldn’t be the sole factors in your decision-making process.

Conclusion

Choosing the right multi-asset prop firm can open the door to a variety of market opportunities. Whether it’s forex, futures, stocks, crypto, or commodities, a well-rounded firm provides access to multiple markets while supporting balanced risk management.

Pairing a trusted multi-asset prop firm with platforms like LuxAlgo’s AI Backtesting Assistant can take strategy development to the next level. By simulating trades across different asset classes, traders can refine their approaches, identify strategies that perform well under varying conditions, and improve overall consistency. For signal-and-overlay driven systems, start with LuxAlgo’s Signals & Overlays overview.

As technology continues to play a crucial role in ensuring consistent trading performance, it’s clear that success in prop trading requires more than just access to capital. Advanced tools and platforms are becoming essential for navigating today’s markets. Partnering with a reputable firm and leveraging AI-driven tools offers a data-focused, resilient approach to trading, ensuring traders are equipped to thrive in a fast-evolving landscape.

FAQs

What should I look for when choosing a multi-asset proprietary trading firm?

When choosing a multi-asset proprietary trading firm, it's crucial to weigh several key aspects. Start by examining the firm's reputation, track record, and trading philosophy - these elements provide insight into their credibility and approach. Next, review the variety of asset classes they offer, such as Forex, CFDs, futures, crypto, and stocks, to ensure they align with your specific trading goals.

Don't overlook trading conditions like profit splits, leverage, spreads, commissions, and risk management rules. These factors can significantly impact your trading experience and profitability. Also, consider the firm's technological tools, educational materials, and support systems, as these can play a big role in helping you build consistent and diversified strategies across different markets.

By focusing on these elements, you’ll be better equipped to select a firm that aligns with your objectives and supports your path to long-term success.

How do profit splits and risk management policies impact a trader's earning potential at multi-asset prop firms?

Profit-sharing and risk management policies are key factors that influence a trader's earnings at multi-asset prop firms. Firms that offer profit splits as high as 70-80 percent give traders the chance to keep a bigger portion of their earnings, which can significantly increase their income.

On the flip side, risk management policies - like limits on leverage and rules for drawdowns - might restrict short-term gains but are put in place to prevent heavy losses. These measures aim to strike a balance, ensuring traders can pursue long-term growth while keeping risks in check.

The best combination is a setup that pairs attractive profit-sharing with smart risk controls, giving traders the opportunity to grow their earnings while protecting their capital.

What are the pros and cons of trading exclusively in futures with firms like TradeDay?

Trading futures through firms like TradeDay brings several advantages. For starters, it offers high leverage, giving traders the ability to control larger positions with less capital. You also gain access to a wide variety of markets, and with trading hours that extend nearly 24 hours a day, there’s more flexibility to find opportunities and diversify your portfolio.

That said, futures trading isn’t without its challenges. The high volatility in these markets, combined with the amplified effects of leverage, can result in significant losses if not approached carefully. It’s a demanding endeavor that often requires constant attention to market movements and a solid grasp of market dynamics. Because of this, futures trading tends to be a better fit for seasoned traders who are prepared to navigate its complexity and risks.

References