What are the Cheapest Prop Firms in 2024? (February Update) (2024)

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.

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
Dragon Challenge Account Go to The Funded Trader	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	3 steps	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.	Up to 1:30.	15% OFF + 85% PAYOUT + 120% BONUS Coupon 15% OFF + 85% PAYOUT + 120% BONUS USE CODE: TFTFEBRUARY1 Show Code 15% Off + 85% Payout + 120% Bonus on all challenges of The Funded Trader More Less Expires on: 02/17/2024 15% OFF Coupon 15% OFF USE CODE: CEASER Show Code 15% Off Coupon Code on The Funded Trader More Less Go To The Funded Trader
Royal Challenge Account Go to The Funded Trader best overall	50k balance for $289 Other account sizes: 100k balance for $489 200k balance for $939 300k balance for $1399 400k balance for $1869	2 steps	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.	Up to 1:200.	15% OFF + 85% PAYOUT + 120% BONUS Coupon 15% OFF + 85% PAYOUT + 120% BONUS USE CODE: TFTFEBRUARY1 Show Code 15% Off + 85% Payout + 120% Bonus on all challenges of The Funded Trader More Less Expires on: 02/17/2024 15% OFF Coupon 15% OFF USE CODE: CEASER Show Code 15% Off Coupon Code on The Funded Trader More Less Go To The Funded Trader
Stellar Challenge Go to FundedNext	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.	1 Step: 1:30 2 Steps: 1:100	5% OFF Coupon 5% OFF USE CODE: 5BESTOFF Show Code 5% Off Coupon Code on FundedNext More Less Go To FundedNext
E8 Account Go to E8 Funding	50k balance for$338 Other account sizes: 25k balance for$228 100k balance for$588 250k balance for $988	2 steps	80%	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 10% OFF USE CODE: ELLIOTE8 Show Code 10% Off Coupon Code on E8 Funding More Less Go To E8 Funding
Go to FTMO	50k balance for €345 Other account sizes: 10k balance for€155 25k balance for€250 100k balance for€540 200k balance for €1080	2 steps	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.	Up to 1:100.	Go To FTMO
Go to The Trading Pit	50k balance for $399 Other account sizes: 10k balance for $99 20k balance for $179 100k balance for $999	1 step	60% to 80% (depending on the level of scaling plan).	8%	5% (Daily drawdown). 10% (Max trailing drawdown).	Forex, CFDs, Indices, Commodities, Stocks and Crypto.	1:30.	Go To The Trading Pit
Go to SurgeTrader	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	1 step	75% (or 90% with add-on purchase)	10%	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 10% OFF USE CODE: EM10OFFSTX Show Code 10% Off Coupon Code on SurgeTrader More Less Go To SurgeTrader
Instant Funding Account Go to City Traders Imperium	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	1 step	50% to 100%	9%	5% Absolute Drawdown	Forex, Crypto, Commodities and Major Index Stocks.	Up to 1:10.	10% OFF Coupon 10% OFF USE CODE: CTI10% Show Code 10% Off Coupon Code on City Traders Imperium More Less Go To City Traders Imperium

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.

What are the Cheapest Prop Firms in 2024? (February Update) (2024)

FAQs

Is there any free prop firm? ›

There are unique opportunities to get a free prop firm challenge account for forex. The current competition in the prop firm industry has created new offers to attract traders. Many forex prop firm challenge offers include smaller accounts, lower challenge fees, and refunds upon passing.

Learn More ›

Which prop firm offers instant funding? ›

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.

Learn More Now ›

Which prop firm has zero fees? ›

At the forefront of cost-saving measures is FXIFY, a prop firm that boasts zero commissions on forex trades. The offering helps traders who want to keep overheads to an absolute minimum. The commission-free trading structure is available for all instruments except for stocks CFDs, which incur a rate of 0.35% RT.

Is FTMO banned in the US? ›

FTMO Banned USA Clients – Heres our Top 5 Alternatives (Accepting USA Traders) FTMO have now restricted access to all new US-based traders as of January 2024. This appears to be related to regulatory issues and may have something to do with the recent My Forex Funds case.

What is the best prop firm like FTMO? ›

While FTMO is a popular prop trading firm, there are several other prop firms out there that you can consider. Some well-known prop firms include TopstepTrader, OneUp Trader, and Maverick Trading.

Explore More ›

Are prop firms worth it? ›

Is working with a prop firm worth it? There are many unique advantages that make working with a prop firm worth it. These include access to unique software and information, trading with the firm's capital, and cashing in a large portion of your winnings.

View Details ›

What are the negatives of prop firms? ›

- Traders in prop firms often have limited control over the firm's capital. They may need to deposit their own money as collateral or risk management. - Additionally, payouts are subject to the firm's rules, which may restrict a trader's access to profits.

Know More ›

What is the free prop firm challenge that pays real money? ›

1. FTMO. FTMO is one of the most popular forex prop firm challenges, and it is known for its high payout potential. Traders who are able to successfully complete the challenge can receive a funded account of up to $200,000.

Tell Me More ›

Do prop firms really pay? ›

Yes, prop firms do pay. While there are some scams out there popping up everyday, reputable prop trading firms like True Forex Funds, FTMO,5%ers,FundedNext are legitimate and pay traders according to their profit-sharing agreements. As for True Forex Funds, I can vouch for their credibility.

Tell Me More ›

What prop firm has the shortest payout? ›

Fastest Industry Payouts – MyFundedFutures has the fastest payouts in the futures prop trading space which has become more and more important with some of the other futures prop trading firms taking weeks to payout.

Discover More ›

Which prop firm has 0 minimum trading days? ›

If you want prop firms with no minimum trading days, Smart Prop Trader is the right choice. We are a proprietary firm in Austin, Texas, established in 2022, and we aim to offer exemplary benefits and spreads to traders.