Unlike a couple of years ago, there are now a large number of proprietary trading firms on the market. Each of them has its own characteristics, trading rules, profit split schemes and access prices to their funded accounts, so finding the cheapest prop firm is not an easy task.
Moreover, not all prop trading firms are reliable. Some of them will immerse the trader into a never-ending challenge with the sole aim of keeping their access fees instead of testing their strategy and risk control and then letting them manage their capital in a live account and mutually profit from it.
To help you find the cheapest prop firms we have put together this comparison table where we list only the most reliable and reputable prop firms among traders around the world. To make it easy for you to compare them and find the one that best suits your preferences we have included their main features and pricing plans focusing on the access fee of an average account with a funded capital of $50,000.
We will make a separate comparison between those prop trading firms with a one-off payment for accessing the evaluation process and those with a monthly recurring payment.
| Prop Firm | 50k Balance / Fee | Challenge Steps | Profit Split | Profit Target | Max. Drawdown | Instruments | Leverage | Visit |
| 50k balance for $205 Other account sizes:
5k balance for $49
10k balance for $99
25k balance for $135
100k balance for $355
200k balance for $495 | | 80% by default and up to 90% with scaling plan. | 8% (Phase I).
5% (Phase II).
5% (Phase III). | 5% Maximum Daily Loss.
10% Maximum Loss. | Forex, Indices, Commodities, Metals and Cryptocurrencies. | | 15%
OFF
+
85%
PAYOUT
+
120%
BONUS Coupon 15% Off + 85% Payout + 120% Bonus on all challenges of The Funded Trader More Less
15% Off Coupon Code on The Funded Trader More Less
|
| 50k balance for $289 Other account sizes:
100k balance for $489
200k balance for $939
300k balance for $1399
400k balance for $1869 | | 80% by default and up to 90% with scaling plan. | 8% (Phase I).
5% ( Phase II). | 5% Maximum Daily Loss.
10% Maximum Loss. | Forex, Indices, Commodities, Metals and Cryptocurrencies. | | 15%
OFF
+
85%
PAYOUT
+
120%
BONUS Coupon 15% Off + 85% Payout + 120% Bonus on all challenges of The Funded Trader More Less
15% Off Coupon Code on The Funded Trader More Less
|
| 50k balance for $299 Other account sizes:
6k balance for $59
15k balance for $119
25k balance for $199
100k balance for $519
200k balance for $999 | 1 step or 2 steps
(same price with different trading rules) | 80% by default and 90% with scaling plan. 15% Profit share from challenge phase. | 1 Step: 10% 2 Steps: 8% (Phase I).
5% ( Phase II). | 1 Step: 3% Max Daily Loss (Balance Based).
6% Max Overall Loss. 2 Steps: 5% Max Daily Loss (Balance Based).
10% Max Overall Loss. | Forex, Indices, and Metals. | | 5% Off Coupon Code on FundedNext More Less
|
| 50k balance for$338 Other account sizes:
25k balance for$228
100k balance for$588
250k balance for $988 | | | 8% for Step 1.
5% for Step 2. | 5% Daily Drawdown.
8% Overall Drawdown. You can scale your overall drawdown up to 14% | Forex, Commodities, Indices, Equities, and Cryptocurrencies. | FX Majors up to 1:100.
FX Exotics up to 1:50.
Commodities and Indices up to 1:50.
Cryptos up to 1:5. | 10% Off Coupon Code on E8 Funding More Less
|
| 50k balance for €345 Other account sizes:
10k balance for€155
25k balance for€250
100k balance for€540
200k balance for €1080 | | In non scaled accounts: 80% for the trader.
In scaled accounts: 90% for the trader. | 10% for Step 1 and 2 in Normal Mode.
20% for Step 1 and 10% for Step 2 in Aggressive Mode. | Normal Mode:
5% Maximum daily loss.
10% Maximum loss.
Aggressive Mode:
10% Maximum daily loss.
20% Maximum loss. | Forex, Indices, Commodities, Cryptocurrencies and Stocks. | | |
| 50k balance for $399 Other account sizes:
10k balance for $99
20k balance for $179
100k balance for $999 | | 60% to 80% (depending on the level of scaling plan). | | 5% (Daily drawdown).
10% (Max trailing drawdown). | Forex, CFDs, Indices, Commodities, Stocks and Crypto. | | |
| 50k balance for $400 Other account sizes:
25k balance for $250
100k balance for $700
250k balance for $1.8k
500k balance for $3.5k
1m balance for $6.5k | | 75%
(or 90% with add-on purchase) | | 5% (Daily loss limit).
8% (Max trailing drawdown). | Forex, Stocks and Crypto. | 1:10 Forex, 1:5 Stocks and 1:2 Crypto. | 10% Off Coupon Code on SurgeTrader More Less
|
| 50k balance for $559 Other account sizes:
$10,000 balance for $159
$25,000 balance for $299
$75,000 balance for $799
$100,000 balance for $949 | | | | | Forex, Crypto, Commodities and Major Index Stocks. | | 10% Off Coupon Code on City Traders Imperium More Less
|
As you can see with the above data it is easy to quickly define which is the cheapest prop firm. If we base it only on the price, we could say that the cheapest one is the first in the list and that is because its price is the cheapest but it is also the one with the longest challenge and with more steps. That is why it is good that you compare all the options and choose the one that can be more balanced for you and your characteristics as a trader.
On our website you can also see this comparison of the best no evaluation prop firms with instant funding. The prices are usually higher than those offered by these proprietary trading firms with evaluation but in exchange you can start trading on a funded account from the very first moment.
FAQs
#1 – Funder Trading
Funder Trading stands first in our list of the top prop trading firms in 2024 due to multiple reasons but notably it is the only prop trading firm that offers options funding and includes coaching for every trader signed up.
Which prop firm has the cheapest price? ›
Cheapest Prop Firms Forex 2024 - with $5K Funding Accounts...
- The5%ers. The5%ers specializes in providing funding of up to $100,000 to forex traders. ...
- FTMO. ...
- MyForexFunds. ...
- Earn2Trade. ...
- The Funded Trader Program. ...
- OneUp Trader. ...
- Apex Trader Funding. ...
- True Trader.
FTUK is a reputable prop firm with instant funding accounts, which attracts seasoned traders who want to access large trading capital without a lengthy evaluation process. The funding range is from 14k to 5 million USD with a profit share of 80% and maximum leverage of 1:100.
What is the future of prop firms? ›
The prop trading space is relatively new—no more than 10 years old—but growing fast. It was estimated at $6.7 billion globally in 2020 and is projected to expand at a compound annual growth rate (CAGR) of 4.2% from 2021 to 2028. Like any financial strategy, it offers significant opportunities as well as risks.
Which prop firm is the best now? ›
The most popular prop trading firms and funded programmes
- Axi Select.
- FTMO.
- The Forex Funder.
- E8 Markets.
- The 5%ers.
- Funded Next.
- Funded Trading Plus.
Firms Participation fee
This is one of the most common questions beginner prop traders usually ask. Many prop trading firms typically charge a monthly subscription fee of $150 to $25000.
Which prop firm offers 5k account? ›
FTMO (Funded Trader Millionaire Operator) is one of the largest and best known prop firms globally. They have funded over 60,000 trader accounts and have over $70 million in trading capital. FTMO offers funded accounts from $5,000 up to $100,000.
Which prop firm has the lowest commission? ›
FXIFY leads the charge by offering zero commission fees, E8 Funding and My Funded FX follow closely, offering low commission rates. The Funded Trader and Forex Capital Funds, with their slightly higher commission rates, still present compelling options for traders.
How much does the average prop firm trader make? ›
Prop Firm Trader Salary
The salary of a prop trader can vary greatly depending on several factors such as experience, performance, and the size of the firm. On average, a junior prop trader can expect to earn anywhere between $50,000 to $100,000 per year, while a senior trader can make upwards of $500,000 annually.
Which prop firm has fast withdrawals? ›
Best Prop Firms for Fastest Payouts June 2024
- FunderPro: Daily.
- the5ers: Weekly.
- City Traders Imperium: Weekly.
Proprietary trading firms often provide evaluation accounts where you prove your trading skills. Usually, you pay a one-time fee to enter this “challenge.” If you lose money during this evaluation, you won't owe anything beyond the initial fee.
Which prop firms offer free challenge? ›
Which prop firms give a free trial? FunderPro, FTMO, UltraCap Trading are some of the best options for traders who want to join a prop trading firm that offers free trials or demo accounts.
What are the negatives of prop firms? ›
Among many other potential factors, the main disadvantages of prop trading arise from being classified as a market professional, unfavorable profit sharing, and whether your net trading profits are taxed as capital gains or ordinary personal income.
Are prop firms going to stay? ›
In conclusion, forex prop firms are legal both to own and to trade with, although largely unregulated in the online space currently. We expect to see regulation coming and strengthening in the upcoming years. If you want to stay ahead of this as a trader, ensure you're trading with a real money prop firm.
How many people fail prop firms? ›
According to it, 4% of traders, on average, pass prop firm challenges. But only 1% of traders kept their funded accounts for a reasonable amount of time. While this result is not nearly as bad as the one discussed earlier, it still looks bleak for prospective prop traders. But why is the percentage of failure so high?
Which prop firm has the fastest payout? ›
FunderPro stands out for its rapid payouts in the prop trading industry. With some competitors taking weeks to process payouts, FunderPro prioritizes swift transactions, ensuring traders receive their earnings promptly.
How do I choose a prop firm? ›
The first question to ask when choosing a prop trading firm is about its reputation and compliance. You want to work with a firm that has a solid reputation in the industry, a clean regulatory history, and transparent and ethical business conduct.
