MyProp: The Best Prop Firm, Backed by Novin Insurance and Guaranteed Profit Withdrawals

In the 2025 prop trading market, capital security, hassle-free profit withdrawals, and legal protection have become more important than ever.

If you are an Iranian trader overwhelmed by the number of available prop firms, this is precisely where MyProp stands out: it combines professional prop trading services with Novin Insurance coverage and a 135% challenge fee refund. This model is designed to minimize the risk to your personal capital while maximizing your opportunity to build sustainable income in foreign currency.

This article explains why MyProp is considered one of the best prop firms for Iranian traders, particularly if:

• You have sufficient experience in forex trading but lack substantial personal capital.
• You have previously been burned by other prop firms and now prioritize security, transparency, insurance coverage, and reliable profit withdrawals above everything else.

Part One: What Is Prop Trading, and Why Has It Become Essential for Iranian Traders?

What Is a Prop Firm?

A proprietary trading firm, commonly known as a prop firm, is a capital provider that allows traders to trade with company-funded accounts instead of risking their own money.

In return, the trader shares a percentage of the profits with the firm.

The standard process at most prop firms is as follows:

1. You purchase a trading challenge.
2. You trade while following predefined risk-management rules, such as daily loss limits, maximum drawdown, and profit targets.
3. If you reach the profit target without violating the rules, you receive a funded account.
4. You then trade using the firm’s capital and typically receive between 80% and 90% of the profits.

The key point is simple:

In the prop trading model, the capital at risk belongs to the firm. The trader’s maximum financial exposure is generally limited to the challenge fee—not the entire $50,000 or $100,000 account balance.

Why Does Prop Trading Make More Sense Than a Personal Account for Iranian Traders?

Iranian traders face several significant limitations:

• Limited access to substantial foreign-currency capital
• The high risk of investing personal or family savings in a volatile market such as forex
• Sanctions, exchange restrictions, broker limitations, and legal or banking risks

In practice, trading responsibly through a personal account usually requires you to:

• Deposit at least several thousand dollars of personal capital.
• Manage stop-losses and drawdowns carefully enough to prevent two or three losing trades from severely damaging the account.

For many traders, this is simply not realistic.

The usual consequences are:

• Intense psychological pressure
• Overtrading
• Margin calls
• Eventually losing confidence in forex trading altogether

The prop trading model offers a different approach.

You may only need to pay between $50 and $100 for access to a $5,000 or $10,000 challenge account. If you succeed, your first profit withdrawal may cover several times the original fee.

If you fail, your financial loss is generally limited to the challenge fee—not the total trading capital available in the account.

Simply put:

Prop trading uses limited personal capital to create access to a much larger trading opportunity without placing your essential savings at direct risk.

Why Have Many Iranian Traders Lost Trust in Prop Firms?

A brief look through trading groups and online communities reveals familiar complaints:

“The prop firm refused to pay my profits.”

“I became too profitable, so they suddenly created a new rule and closed my account.”

“They advertised insurance and guarantees, but when a problem occurred, they neither responded nor issued a refund.”

The main causes of these problems include:

• Prop firms with no legal or insurance backing
• Ambiguous rules and undisclosed restrictions
• Unexpected limitations on trading hours or news events
• A lack of Persian-language support
• Failure to understand the practical challenges faced by Iranian traders

It is therefore understandable that many traders react skeptically when they hear the phrase “the best prop firm.”

This article is not intended to make empty advertising claims. Its purpose is to explain how MyProp offers a different structure through Novin Insurance coverage, a registered company, and clearly defined trading rules.

Why Is MyProp One of the Best Prop Firms for Iranian Traders?

In a highly competitive prop trading market, MyProp is distinguished by several features that directly address the main concerns of Iranian traders:

• Security
• Insurance coverage
• Challenge fee refunds
• Transparent rules
• Reliable profit withdrawals

1. Prop Account Insurance Backed by Novin Insurance

One of MyProp’s most innovative services is its prop account insurance.

This insurance:

• Is activated automatically and free of charge for all eligible accounts.
• Does not require traders to pay an additional 10% to 20% insurance fee, unlike many other prop firms.

How MyProp’s Prop Account Insurance Works

If an account violation occurs because of extreme market volatility or a minor, unintentional trading mistake—and not because of fraud or the use of prohibited strategies—the insurance may provide the trader with an opportunity to recover the account or receive a refund.

The Difference Between Account Insurance and a Standard Refund

A standard refund is usually issued only after the trader successfully completes the challenge and reaches the first profit withdrawal.

If the trader loses the account before that stage, the challenge fee is normally forfeited.

Prop account insurance is designed to provide protection before the account is permanently lost. Depending on the applicable terms, it may offer an opportunity to reset the account or continue under a recovery arrangement.

With MyProp, traders may benefit from a combination of:

• Free and automatic insurance coverage for eligible accounts
• A 135% challenge fee refund after the first withdrawal, subject to achieving 10% account growth

For a cautious trader who has previously lost money with unreliable prop firms, this combination offers two important advantages:

• The likelihood of a complete financial loss is significantly reduced.
• If the trader succeeds, the challenge fee is not only returned but may also generate an additional reward.

2. A 135% Challenge Fee Refund

Many international and Iranian prop firms offer a maximum refund of:

• 100% of the original challenge fee
• Or, in some cases, up to 120%

MyProp offers a 135% refund after the first profit withdrawal, provided that the account has achieved 10% growth.

For example, assume that you purchase a $5,000 challenge for $50.

You grow the account by 10%, generating $500 in profit.

At your first withdrawal, you may receive your agreed profit share in addition to $67.50, which represents 135% of the original $50 challenge fee.

The result is that the initial cost of the account is effectively recovered after the first successful withdrawal.

Instead of treating the challenge fee as a permanent expense, traders may view it as a recoverable cost that can generate an additional return upon successful completion.

This structure makes MyProp an attractive option for traders looking to purchase a prop challenge while managing their initial financial exposure.

3. A Registered Company and Recognized Regulation

Trust in the prop trading industry has little meaning without a legal and organizational foundation.

MyProp provides several layers of reassurance.

Registered Company and IFC Regulation

MyProp operates through a registered corporate structure and holds IFC regulation.

This means traders are dealing with an identifiable organization rather than an anonymous social media page or an unregistered online operation.

Identifiable Offices and Corporate Presence

According to the available information, MyProp has an international office as well as an administrative office in Iran that handles support and internal operations.

For Iranian traders who have repeatedly encountered anonymous foreign brokers and unaccountable prop firms, this structure represents an important step toward greater transparency and trust.

4. Clear Rules Without Hidden Restrictions

One of the greatest weaknesses of many prop firms is the complexity and ambiguity of their trading rules.

In some firms, rules:

• Change after the trader has already started the challenge.
• Are hidden inside lengthy PDF documents.
• Are not clearly displayed on the main website.
• Are interpreted inconsistently when an account becomes profitable.

MyProp presents its key rules and conditions transparently, including:

• Daily drawdown limits
• Maximum overall drawdown
• Whether drawdown is calculated using balance or equity
• Minimum trading days
• Permitted instruments
• Prohibited trading strategies
• Profit withdrawal procedures
• Withdrawal schedules
• Minimum withdrawal requirements

MyProp’s blog also includes specialized articles on subjects such as:

• The difference between equity-based and balance-based drawdown
• The difference between a demo account and a prop challenge account
• Risk management and challenge rules

This educational approach reduces misunderstandings and helps traders understand the rules before committing capital.

MyProp therefore aims to be more than a provider of prop accounts. Its goal is to help traders understand the structure of funded trading and develop the discipline required to trade sustainably and qualify for account scaling.

5. Fast and Reliable Profit Withdrawals

For professional traders, every stage of the challenge ultimately leads to one critical point: withdrawing profits.

MyProp focuses heavily on this part of the trader experience.

Fast or Regularly Scheduled Withdrawals

Under the updated structure, profit withdrawals are processed quickly and according to clearly defined schedules, reducing concerns about profits being delayed or withheld.

Profit Splits of Up to 90%

Depending on the selected plan and the trader’s account history, the trader’s profit share may increase to as much as 90%.

Payment Options Suitable for Iranian Traders

Iranian traders may be able to receive profits through methods such as:

• USDT payments
• Iranian rial settlements

This reduces dependence on unreliable foreign payment services and international banking systems that may not be accessible to Iranian users.

Practical Minimum Withdrawal Requirements

The withdrawal system is structured to allow traders to withdraw profits regularly and build a more consistent foreign-currency income stream.

For traders who have previously experienced situations in which a prop firm closed their account after they became profitable, the combination of account insurance, transparent rules, and reliable withdrawals is especially valuable.

6. Free Challenges and Trial Accounts

MyProp also provides lower-risk opportunities for traders who are not yet ready to purchase a paid challenge.

Free Challenges and Trading Competitions

MyProp periodically organizes free challenges and trading competitions.

These events allow traders to demonstrate their skills without paying a challenge fee. Successful participants may receive:

• Prizes
• Discounts
• Free challenge accounts
• Funded trading accounts

For traders who have had negative experiences with other prop firms, these opportunities can provide a practical way to rebuild trust without exposing personal capital to additional risk.

How to Use MyProp to Access Trading Capital With Less Stress

The following roadmap begins with limited personal capital and uncertainty, then progresses toward larger funded accounts and more sustainable foreign-currency income.

Step 1: Evaluate Yourself Before Purchasing a Challenge

Before purchasing any prop challenge, answer several questions honestly:

• On which timeframes and trading instruments does your strategy perform best?
• What is your average drawdown?
• What is your typical risk-to-reward ratio?
• Have you demonstrated consistent results on a demo or test account for at least several months?
• Can you follow predefined risk rules under pressure?

To support traders during this stage, MyProp may provide a free or low-cost test account that allows them to evaluate their strategy in a simulated environment.

The MyProp blog also includes articles such as “How to Pass a Prop Firm Challenge,” which address the preparation required before purchasing an account.

If you conclude that your strategy is not yet sufficiently tested, the most rational decision is to delay the purchase.

Instead:

• Continue learning and practicing.
• Record your trades in a trading journal.
• Test your rules under different market conditions.
• Use MyProp’s free challenges and educational resources to build a more stable system.

Step 2: Choose the Right Plan

A common mistake is having only $200 or $300 in personal savings and immediately purchasing a $100,000 challenge.

This often creates excessive psychological pressure and may lead to:

• Overtrading
• Oversized positions
• Revenge trading
• Margin problems
• Challenge failure

A more sustainable approach is to begin with an economy plan or a smaller challenge, such as a $5,000 or $10,000 account.

The initial objective should be to demonstrate consistency and complete the challenge—not to generate extraordinary returns in a short period.

MyProp offers:

• Multiple account sizes ranging from $5,000 to $200,000
• Scaling opportunities for successful traders
• The ability to increase trading capital without placing additional pressure on personal savings

Many plans also provide daily loss limits of approximately 4% to 5% and maximum overall loss limits of around 10%, depending on the specific plan.

The exact rules of each plan should always be reviewed before purchase.

Step 3: Use Account Insurance Responsibly

When properly understood, prop account insurance can be an effective risk-management feature.

It may:

• Reduce the fear that one minor mistake will permanently end the account
• Allow traders to recover from certain unintentional errors within the applicable rules
• Provide additional psychological security during volatile market conditions

However, insurance is not a substitute for discipline.

Traders should continue to follow several basic principles:

• Keep the risk per trade within a controlled range.
• Use stop-loss orders.
• Avoid prohibited strategies.
• Do not rely on insurance as permission to increase risk.
• Stay away from arbitrage, abusive high-frequency methods, or other prohibited trading practices, as insurance may not apply in such situations.

Prop account insurance should be treated like a seat belt:

It is not designed to protect someone who deliberately drives recklessly. It is designed to reduce the impact of an unexpected event when the trader is already operating responsibly.

Step 4: Reach the First Profit Withdrawal

After receiving a funded account, the trader’s first major objective should be to reach the first profit withdrawal in a controlled and systematic manner.

Avoid excessive ambition that could push the account into a deep drawdown before any profits are withdrawn.

A possible approach is:

1. Focus on achieving steady account growth.
2. Work toward the required 10% growth target.
3. Request the first profit withdrawal once the relevant conditions have been met.
4. Receive the 135% challenge fee refund, subject to MyProp’s applicable rules.

After this stage:

• The original challenge fee has been recovered.
• A portion of the trading profit has been withdrawn.
• The trader’s initial personal financial exposure has effectively been reduced.

This combination of account insurance, fee reimbursement, and profit withdrawal can reduce both financial and psychological pressure for Iranian traders.

Step 5: Scale the Account Gradually

After establishing a funded account and completing several successful withdrawals, the trader may move into the scaling phase.

Possible options include:

• Using part of the profits from the current account to purchase a larger challenge
• Progressing from a $5,000 account to a $25,000 or $50,000 account
• Using MyProp’s internal scaling structure to increase available trading capital to $200,000 or more, depending on performance and eligibility

The key principle is to prioritize consistency and risk control instead of rapidly increasing position sizes.

MyProp’s insurance and refund structure may provide an additional psychological buffer during this process, allowing traders to focus on gradual, measurable growth.

Why Is Purchasing a MyProp Challenge a Secure Route to Professional Funded Trading?

The following section summarizes why MyProp may be a suitable option for Iranian traders looking to begin or continue their professional funded trading journey.

1. MyProp Compared With Other Iranian and International Prop Firms

Based on information published by MyProp, several differences can be highlighted.

Prop Account Insurance

MyProp:

• Free and automatic insurance coverage for eligible accounts
• No additional insurance charge

Many competitors:

• Insurance may require an additional fee of 10% to 30%
• Coverage may only begin after several withdrawals
• Some firms do not provide insurance at all

Challenge Fee Refund

MyProp:

• 135% refund after the first withdrawal, subject to 10% account growth

Many competitors:

• Usually offer a 100% refund
• Some may offer up to 120%

Rule Transparency

MyProp:

• A detailed rules page
• Educational articles about drawdown, risk management, and challenge conditions
• Clearly communicated trading restrictions

Many competitors:

• Ambiguous rules
• Conditions that are open to interpretation
• Unexpected rule changes

Language and Customer Support

MyProp:

• Persian-language support
• A better understanding of the financial and payment limitations affecting Iranian traders
• Support adapted to local needs

Many international prop firms:

• No Persian-language support
• Time-zone differences
• Limited understanding of Iran-related payment and compliance restrictions

Profit Withdrawals and Payment Methods

MyProp:

• Payments through USDT or Iranian rial settlement
• Clearly defined payment procedures and timelines

Many international competitors:

• Payments may depend entirely on international banking or payment systems
• Limited accessibility for Iranian traders

For an Iranian trader seeking a prop firm with lower legal, financial, and operational uncertainty, this combination of features may make MyProp a logical option.

Who Is MyProp Most Suitable For?

MyProp may be particularly suitable for the following groups.

Skilled Traders With Limited Capital

These traders already have a tested strategy but lack sufficient personal funds. They do not want to expose family savings or essential capital to direct market risk.

A smaller challenge may allow them to gain access to larger trading capital and eventually qualify for scaling.

Traders Who Have Been Burned by Other Prop Firms

This group includes traders who have experienced:

• Refused profit payments
• Sudden rule changes
• Unclear account closures
• Unresponsive support teams
• Prop firms with no legal or insurance backing

For these traders, insurance, transparency, and an identifiable organizational structure are particularly important.

Traditional Investors Interested in Forex

Some investors are accustomed to physical gold, coins, or other traditional investments but want to trade instruments such as XAUUSD in the global forex market.

They may be unwilling to place their main personal capital at direct risk.

For these individuals, trading through a MyProp-funded account with account insurance may provide a more gradual transition from traditional investing to global financial markets.

Conclusion and Practical Next Steps

If you are reading this article, you are likely in one of two situations:

• You have trading skills but insufficient capital.
• You have previously had a negative experience with an unreliable prop firm or broker and now prioritize security, insurance, and reliable profit withdrawals.

MyProp addresses these needs through features such as:

• A registered prop trading company with recognized regulation
• Free and automatic prop account insurance backed by insurance coverage
• A 135% challenge fee refund after the first successful withdrawal, subject to the applicable conditions
• Fast profit withdrawals through USDT or Iranian rial payments
• Clearly defined rules without undisclosed restrictions
• Multiple plans for smaller and larger account sizes
• Free challenges and trial opportunities for traders who want to test the system before committing capital

The next step depends on your current level of preparation.

If you already have a tested and profitable strategy, begin with a smaller plan, manage risk carefully, reach your first withdrawal, and scale gradually.

If you are still uncertain, use a MyProp test account, free challenge, or the educational content available on the MyProp blog. Build confidence in your strategy before purchasing a paid challenge.

The central message is straightforward:

Prop trading without transparent rules, legal protection, account insurance, and a reliable withdrawal structure may simply introduce another layer of risk. When these elements are combined within MyProp’s model, however, prop trading can become a more secure and structured path toward building sustainable foreign-currency income for Iranian traders.