The 25 best-known prop trading firms compared on challenge price, drawdown rules, profit split, payouts and platforms. Every firm has an in-depth review with its current rules, checked on the firm's own website.
Prices and rules are for the standard challenge as of the check date in each review. Firms change rules often — confirm on the official site before buying a challenge.
A prop firm sells you an evaluation, not a trading account. You pay a one-off fee, follow strict loss limits, and—if you pass—trade the firm’s capital for a share of the profit. The cheapest challenge is rarely the best deal: the rules decide whether you ever get paid.
1. Read the drawdown, not the headline
A static 10% max loss measured from your starting balance is far easier to live with than a trailing drawdown that follows your highest equity. Futures firms such as Topstep and Apex Trader Funding use trailing limits; most forex/CFD firms use static or daily-reset limits.
2. Price the whole challenge
Compare the fee per $10K of buying power, then add paid extras (higher split, no time limit, refundable fee). A refundable fee is only refunded after a payout, so treat it as spent money.
3. Check payout proof
Look for how long the firm has paid traders, the minimum days before a first payout and any consistency rule (for example, no single day above 30–50% of total profit). New firms with few verified payouts carry more risk.
4. Match the platform to your style
MT5, cTrader, DXtrade and TradingView suit forex and gold; NinjaTrader, Tradovate and Rithmic are standard for futures. News trading, weekend holding and expert advisors are often restricted—read those rules before you buy.
Typical numbers in this list: profit split 80–90%, profit target 8–10% (phase 1) and 5% (phase 2), daily loss 4–5%, maximum loss 8–10%. Anything far outside these ranges deserves a closer look.
How we rank
Each prop firm is scored from 1 to 10 on five areas: trading rules (drawdown type, consistency and news rules), challenge cost, profit split and payouts, platforms, and trust and track record. The overall star rating is the average of these scores.
Trust weighs most for us: how long the firm has operated, whether it pays traders reliably, how clearly it publishes its rules and whether it has changed them suddenly. Prop firms are generally not regulated, so treat every challenge fee as money you can lose.
Trading rulesChallenge costProfit split & payoutsPlatformsTrust & track record
Frequently asked questions
What is a prop trading firm?
A proprietary (prop) trading firm lets you trade a simulated or funded account with the firm's capital after you pass an evaluation, usually called a challenge. You pay a one-off fee for the challenge and keep a share of the profits, often 80% to 90%, if you follow the drawdown and risk rules.
How did you rank these prop firms?
We scored each firm on its trading rules, challenge cost, profit split and payout record, platforms, and trust and track record. Rules and prices were checked on each firm's own website, and the date of the last check is shown in every review.
Are prop firms regulated?
Most prop firms are not regulated as brokers, because traders buy an evaluation service rather than deposit money for trading. That makes the firm's track record, payout history and transparency especially important. A few firms belong to regulated broker groups; each review says what the company is.
How many traders pass a prop firm challenge?
Only a small share of traders pass an evaluation and an even smaller share receive repeated payouts. Treat the challenge fee as money you can lose, start with a small account and focus on the daily and maximum drawdown rules.
What is the difference between static and trailing drawdown?
A static drawdown is measured from your starting balance and does not move. A trailing drawdown follows your highest balance or equity, so it gets closer as you make profit. Futures firms often use trailing drawdowns, while many forex/CFD firms use static or daily-reset limits.
Risk warning: Prop firm challenges are paid evaluations, and most traders do not pass. Prop firms are generally not regulated. Trading with leverage carries a high risk of loss.