Learn prop trading
Start here.
Prop firms fund skilled traders with real capital — you risk a small fee, not your savings. This page gives you the vocabulary and the decision path; the rest of the site gives you the numbers.
Your first challenge in five decisions
Pick your market
Forex and indices → CFD firms. CME futures on NinjaTrader or Tradovate → futures firms. BTC, ETH and altcoins → crypto firms. The header switch re-themes the whole site around whichever you choose.
Pick a program type
2-step challenges are the cheapest route if you're consistent. 1-step costs more but ends sooner. Instant funding skips the test entirely — you pay a premium for certainty. There's no universally right answer; there's a right answer for your win rate and patience.
Start smaller than your ego wants
A $10K–$25K account costs a fraction of a $100K one, and the skills transfer completely. Most traders fail their first challenge — make the tuition cheap, then scale up once you've passed one.
Read the rules before you pay
Trailing vs static drawdown, news-trading restrictions, EA and copy-trading policies, consistency rules. Two firms with identical prices can be completely different products. The comparator shows these side by side.
Never pay full price
There is almost always an active code. Every price on this site already includes the best one we've verified — if a firm's page here shows a code, buying direct without it is just donating money.
The eight terms that matter
Challenge / evaluation
The test you pay to enter. Hit the profit target without breaking the risk rules and the firm funds you. Formats: 1-step (one phase), 2-step (two phases, usually cheaper), 3-step, or instant funding (no test, higher fee).
Profit target
The percentage gain that passes a phase — commonly 8–10% for phase one and 5% for phase two. Lower targets are easier but often come with tighter risk rules.
Daily loss limit
The most you may lose in a single day, usually 4–5% of the account. Cross it — even for a moment, on some firms — and the account is gone. This is the rule that ends most challenges.
Max drawdown
The overall loss limit, usually 8–12%. Static means it's measured from your starting balance; trailing means it follows your equity up as you profit — much less forgiving. Always check which type a firm uses.
Profit split
Your share of the profits once funded — typically 80% or better, with many firms scaling to 90–100% as you grow the account.
Payout cycle
How often you can withdraw: on-demand, weekly, bi-weekly or monthly. Faster cycles and low minimums are worth paying slightly more for.
Consistency rules
Some firms cap how much of your total profit can come from a single day or require a minimum number of trading days. Fine for steady traders, painful for traders whose profit comes in bursts.
Scaling plan
Many firms grow your allocation as you hit milestones — for example +25% every three profitable months. If you plan to stay long-term, the scaling plan matters more than the entry price.
Straight talk: most traders fail their first evaluation, and passing one is proof of discipline, not a promise of income. Trading involves substantial risk of loss. Treat challenge fees as tuition you can afford to lose.
Ready to look at firms?
The table ranks today’s strongest deals — or ask Prop AI to narrow it down for you.