Futures prop firms let you trade using their capital after passing an evaluation process. If you’re focused on trading metals like Silver (SI), Micro Silver (SIL), and Gold (GC), it’s important to choose firms that support these specific contracts. This article compares Apex Trader Funding, TopStep Futures, and Earn2Trade – three firms offering programs for metal futures traders. Here’s a quick summary of their features:
- Apex Trader Funding: Offers clear contract limits, dynamic margin policies, and a trailing drawdown model. Supports platforms like Rithmic and Tradovate.
- TopStep Futures: Provides tiered evaluations, flexible margins, and platform options like NinjaTrader and TradingView. Charges a monthly subscription fee.
- Earn2Trade: Focuses on education with its Gauntlet program, offering access to larger accounts and risk-focused evaluation. Uses Rithmic exclusively.
Each firm caters to different trading styles and experience levels, so understanding their rules, fees, and platform compatibility is key to choosing the right one.
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1. Apex Trader Funding
Apex Trader Funding provides evaluation programs tailored for metal futures trading, including Silver (SI), Micro Silver (SIL), and Gold (GC) contracts. With a range of account sizes available, traders can choose options that align with their risk tolerance and trading strategies. Here’s a closer look at the key features related to evaluation, margins, fees, and platform compatibility.
Metal Futures Access
Traders can work with key metal futures contracts on COMEX, such as full-size Silver, Micro Silver, and Gold, without being forced to diversify into unrelated asset classes. The account size you select directly impacts the number of contracts you can manage, with larger accounts offering more buying power and flexibility in position sizing.
Leverage and Margin Policies
Apex Trader Funding employs a dynamic margin system, adjusting requirements for intraday versus overnight trades. Additionally, the firm uses a trailing drawdown model, which increases the allowable loss threshold as your profits grow. This approach balances enhanced buying power with risk management.
Fees and Profit Sharing
The program charges a one-time evaluation fee, which varies depending on the account size you choose. If you violate evaluation rules, there’s an option to reset your account for a fee. Once funded, traders enjoy a profit-sharing structure where they retain the majority of earnings after meeting an initial profit threshold. Notably, there are no recurring fees for platforms, data, or desk use – though standard trading commissions apply to both entries and exits.
Trading Platforms
Apex Trader Funding supports trading through Rithmic and Tradovate platforms. These platforms offer advanced tools like charting, order flow analysis, depth-of-market features, and real-time COMEX data. They also integrate seamlessly with third-party software like TradingView, Sierra Chart, and NinjaTrader. For traders on the go, Tradovate’s mobile app makes it easy to manage positions remotely.
2. TopStep Futures
TopStep Futures offers a structured evaluation program tailored for metal futures traders, much like Apex Trader Funding. This program provides access to trading Silver (SI), Micro Silver (SIL), and Gold (GC) contracts. What sets TopStep apart is its tiered evaluation process, flexible margin requirements, a variety of trading platforms, and a profit-sharing model specifically designed for metal futures trading.
Metal Futures Access
TopStep Futures supports trading full-size Silver, Micro Silver, and Gold contracts on COMEX. Traders can choose from different account tiers, each designed to offer varying levels of buying power. This flexibility allows traders to align their account size with their preferred trading style and risk tolerance, making it easier to scale up positions as they progress through the evaluation process.
Leverage and Margin Policies
The firm’s evaluation system includes daily loss limits and profit targets that adjust based on the account size. Margin requirements differ depending on whether positions are held intraday or overnight, with stricter rules for overnight holds. This flexible approach helps traders manage risk effectively while maintaining enough buying power to navigate the often-volatile price swings in metal futures markets.
Fees and Profit Sharing
During the evaluation phase, TopStep Futures charges a monthly subscription fee, which includes access to trading platforms and real-time market data. Once traders successfully complete the evaluation, they can become funded and earn a profit split that improves with consistent performance. However, traders who violate rules must start over by purchasing a new evaluation subscription since there are no reset fees. Standard per-contract commissions apply to all trades, covering both entry and exit.
Trading Platforms
TopStep Futures provides access to professional-grade trading platforms such as NinjaTrader, TradingView, and Finamark. These platforms come equipped with advanced charting tools, order flow analysis, and real-time COMEX data feeds – features that are crucial for trading metal futures. They also support advanced order types, automated trading strategies, and third-party indicator integrations, offering traders the flexibility to execute their strategies on both desktop and mobile devices.
3. Earn2Trade
Earn2Trade, like Apex Trader Funding and TopStep Futures, is tailored for traders specializing in metal futures. The firm operates a program called the Gauntlet, designed to evaluate traders while offering access to Silver (SI), Micro Silver (SIL), and Gold (GC) contracts. What sets Earn2Trade apart is its emphasis on education, blending trader evaluation with learning tools. Participants are assessed on their ability to balance risk management with achieving profit goals in the metals market.
Metal Futures Support
Earn2Trade provides direct access to COMEX contracts for Silver, Micro Silver, and Gold. Traders can choose from account sizes ranging between $25,000 and $200,000 in buying power, making it easier to align with their trading style and experience. Each account level includes position limits, ensuring traders manage risk effectively while handling the volatility inherent in metal futures.
The evaluation process prioritizes consistency over aggressive profit-seeking. Traders must hit specific profit targets while adhering to daily and trailing drawdown limits. This structure encourages disciplined trading, a must for navigating the sharp price swings often seen during economic reports or monetary policy announcements – common triggers for volatility in metal futures.
Leverage and Margin Requirements
Margin requirements depend on the type of contract and the duration of the trade. Intraday trades benefit from reduced margins, while holding positions overnight requires full exchange margins to account for potential gaps in pricing.
Risk management is a cornerstone of Earn2Trade’s approach. Each account comes with a maximum daily loss limit and a trailing drawdown tied to the account’s highest balance. These limits scale with account size, maintaining a percentage-based risk framework that teaches traders how to size positions effectively, especially when managing a funded account.
Fee Structures
Earn2Trade charges a one-time fee for the Gauntlet evaluation, ranging from approximately $165 for smaller accounts to $550 for larger ones. Once funded, traders keep 80% of their first withdrawal profits, with the split increasing to 90% for sustained profitability.
For funded traders, platform fees and data costs are covered by Earn2Trade. However, standard per-contract commissions still apply, typically falling between $1.29 and $1.69 per side, depending on the contract. Metal futures fall within this commission range.
Platform Compatibility
Earn2Trade exclusively uses the Rithmic trading platform, accessible through front-end tools like R Trader Pro. This setup offers direct market access to COMEX with low-latency execution, a crucial feature for trading metal futures during high-volatility periods. The platform also includes DOM (depth of market) trading and customizable workspaces, allowing traders to monitor multiple metal contracts at once.
R Trader Pro supports API-based automated trading for Windows and mobile devices, ensuring seamless and low-latency access to COMEX. Both evaluation and funded accounts include real-time Level 1 market data for COMEX contracts, helping traders stay on top of market movements in real time.
Comparison of Features
When it comes to account sizes and contract limits, there are some notable differences among firms catering to metal futures traders. Here’s a breakdown of how Apex Trader Funding, TopStep Futures, and Earn2Trade stack up.
Apex Trader Funding provides clear contract limits based on account size. For instance, a $25,000 account allows traders to handle 4 full-size contracts (or 40 micro contracts). A $50,000 account increases this to 10 contracts (or 100 micros), while a $300,000 account supports up to 35 contracts (or 350 micros).
TopStep Futures offers accounts in sizes of $50,000, $100,000, and $150,000. However, specific position limits aren’t disclosed, leaving some ambiguity for traders looking for precise details.
Earn2Trade, on the other hand, includes metal futures trading as part of its broader CME futures offerings. It provides accounts up to $400,000, though it does not specify exact contract limits.
These differences are crucial for traders tailoring their strategies to specific account sizes or trading volumes. The table below highlights the key features of each firm for better clarity.
| Feature | Apex Trader Funding | TopStep Futures | Earn2Trade |
|---|---|---|---|
| Account Sizes | $25K to $300K | $50K, $100K, $150K | Up to $400K |
| Contract Limits | $25K: 4 contracts (40 micros); $50K: 10 contracts (100 micros); $300K: 35 contracts (350 micros) | Position limits apply (specifics not disclosed) | Contract limits not explicitly detailed |
| Metal Futures Support | Yes | Yes (via CME Group) | Yes (via CME futures) |
Conclusion
Choosing the best prop firm comes down to your trading experience, capital requirements, and how much transparency you’re looking for. Each firm is designed with a specific type of trader in mind.
Apex Trader Funding stands out for its simple and clear structure, which can be a great fit for newer metal futures traders. Their straightforward contract limits make it easier to navigate the trading process.
TopStep Futures offers a well-rounded option, combining a structured evaluation process with educational tools to support growth. Pay attention to how they define and enforce trading limits, as this level of detail can be helpful for traders refining their strategies.
Earn2Trade appeals to more seasoned traders, providing access to larger capital allocations and a wider selection of futures markets. This flexibility is ideal for those aiming to explore and diversify their trading portfolios.
FAQs
What should I know about trading metal futures like Silver (SI), Micro Silver (SIL), and Gold (GC) with futures prop firms?
Futures prop firms that cater to traders in metals like Silver (SI), Micro Silver (SIL), and Gold (GC) often provide tailored funding programs for those specializing in these markets. When evaluating these firms, it’s crucial to pay attention to features such as leverage options, trading platform compatibility, and fee structures, as these can greatly influence your overall trading experience.
Other important factors include the firm’s evaluation process, access to real-time market data, and support for your preferred trading strategies. If you’re focused on specific contracts, like micros or full-sized contracts, make sure the funding program aligns with your trading goals. Taking the time to understand these details can help you choose a firm that fits your needs as a metal futures trader.
What are the margin requirements and leverage options for trading metals like Silver and Gold with futures prop firms?
When trading metals like Silver (SI), Micro Silver (SIL), and Gold (GC), margin requirements and leverage options can differ widely across futures prop firms. These firms typically offer leverage to help traders take larger positions, but the specific ratios depend on the firm’s rules and the funding program you select.
For instance, some firms may offer higher leverage for micro contracts such as Micro Silver (SIL). This can make these contracts a better fit for traders working with smaller account sizes. At the same time, margin requirements often depend on factors like market volatility and the size of the position being traded. It’s crucial to carefully examine each firm’s policies to ensure they align with your trading strategy and risk tolerance.
What should traders look for when selecting a prop firm to trade metal futures like Silver (SI), Micro Silver (SIL), and Gold (GC)?
When deciding on a prop firm for trading metal futures, it’s essential to weigh several critical factors to ensure the firm aligns with your trading objectives. Start by checking the trading platform compatibility – does it support the tools and strategies you rely on? This can make or break your trading experience.
Next, look into the funding program structure. Pay close attention to profit splits, fees, and any restrictions, like daily profit caps or consistency rules, that could impact your earning potential. Equally important is the payout frequency – how often can you withdraw your profits? And don’t forget to verify the firm’s market access to ensure they offer the specific metals you’re looking to trade.
Finally, take a close look at the challenge requirements. These often include profit targets and time limits, so make sure they align with your trading style and capabilities. By carefully considering these elements, you’ll be better positioned to choose a firm that supports your growth as a metal futures trader.
