Learn prop trading · lesson
CFD, futures or crypto prop firms compared
CFD, futures and crypto prop firms all sell a funded account after a paid test, but they differ in price, drawdown, hours and payouts. This lesson compares the three in nine short steps, with the September 2026 numbers from the PropFirmTrading database.
Three products under one name
A CFD firm provides a simulated forex, indices and metals account on MetaTrader, cTrader or a similar broker platform. A futures firm provides real CME contracts (ES, NQ, crude, gold) through Tradovate, NinjaTrader or Rithmic. A crypto firm mirrors an exchange, with coins, perpetuals and 24/7 markets.
Traders should pick the market first and the firm second. A strong futures firm is of no use to a EUR/USD trader.
- CFD: 15 firms in the PropFirmTrading database, the classic two-step challenge and everything that grew out of it
- Futures: 13 firms, one-step evaluations, mostly US-based
- Crypto: 8 dedicated firms, plus CFD firms that offer a few coins at low leverage
What can be traded, and when
CFD accounts trade forex around the clock on weekdays, plus indices, metals, energy and sometimes stocks. Futures trade the CME session, roughly 6 PM to 5 PM Eastern, with a daily close and no weekends. Crypto never closes.
Hours decide how a drawdown is measured. A market with a daily close can use end-of-day rules, and a market that never closes cannot.
- CFD: weekend holding is often restricted and news-trading windows are common in the fine print
- Futures: positions are flattened at the session close on most plans; no overnight risk unless the plan allows it
- Crypto: 24/7 trading and often 24/7 withdrawals, with no session boundaries at all
What a $100K account costs
The price gap is the first thing most people notice, and it is real. A 100K futures evaluation averages $195 against $444 for CFD and $422 for crypto, with codes applied.
Cheap is not the same as generous. Futures charge less per account and give less room per dollar of target.
- Average 100K ticket: CFD $444, futures $195, crypto $422 (616 challenges, 9 Sep 2026)
- Priced per $1,000 of drawdown room instead of account size, CFD costs about $55 and futures about $64, so the gap flips
- Most futures evaluations are monthly subscriptions; cancel after passing or the fee recurs
Drawdown type by market
About half of all challenges use a static drawdown, and almost all of them are CFD. Futures firms use trailing drawdowns, end-of-day on the friendlier plans and intraday on the cheapest. Crypto drawdowns are static but tight, because the firms price coin volatility into the rules.
The same 10% number is a different product on each market. The type should be read before the size.
- CFD: a static floor is the norm, so the room never shrinks as profits grow
- Futures: trailing floors follow the balance high, and intraday versions count open profit, which is the biggest cause of failed evaluations
- Room per $1 of target (PT:DD): CFD 1:0.66, futures 1:0.58, crypto 1:0.56
Leverage and position size
CFD firms quote leverage, typically 1:30 to 1:100 on forex. Futures firms cap contracts instead, so a 50K account might allow 5 minis or 50 micros. Crypto firms run conservative leverage, usually 2x to 5x.
Futures caps limit how fast a trader can reach the target at all. A cheap account with a tight cap is slower money than it looks.
- CFD: leverage varies by instrument and by program; indices and crypto pairs get less than forex
- Futures: micro contracts let a trader scale risk in tenths of a mini, which is why they suit small evaluations
- Crypto: 5x on BTC and ETH, less on altcoins, so sizing feels closer to spot than to CFD
The rules that differ most
Consistency rules are a futures habit. Most futures plans cap a single day at 30% to 50% of total profit, at least until the trader is funded. Half of CFD challenges have no consistency rule at all, and crypto firms mostly skip it. Daily loss limits run the other way. They are standard on CFD and crypto and often absent on futures, where the trailing drawdown does the job.
Futures traders fight the drawdown type and the consistency rule. CFD traders fight the daily limit and the news windows. Crypto traders fight volatility against small fixed percentages.
- 302 of 616 challenges have no consistency rule; 80 have no daily loss limit
- Minimum trading days: 3 to 5 on most CFD and crypto evaluations; futures often count winning days before a payout instead
- News trading: restricted at many CFD firms, allowed at most futures firms, irrelevant to crypto
Payouts
CFD firms pay bi-weekly or on demand with splits from 80% to 100%. Futures firms pay 90/10 as standard but gate the first payout behind winning days, profit buffers and per-payout caps. The best crypto firms pay daily in stablecoins from a $50 minimum.
A fast payout policy is only as good as the gates in front of it. Traders should count the winning days and the buffer before counting the split.
- 302 of 477 programs with a published split reach 90% or better; 106 advertise a 100% tier
- Futures example: five winning days of $200 or more, then a capped first withdrawal
- Crypto payouts are often verifiable on-chain, which is why the review record there is unusually clear
What trading costs inside the account
CFD accounts charge spreads and sometimes commissions, and the spread widens around news. Futures accounts charge a commission per contract plus platform or data fees at some firms. Crypto accounts use exchange-style commissions per side, around 0.04%, plus funding on perpetuals.
A round trip on a micro contract can cost more than the spread on a forex minor. Traders should fold it into expectancy before comparing targets.
- CFD: check whether the firm counts commissions inside a risk-per-trade cap; some do
- Futures: check for monthly data fees and whether the platform is included
- Crypto: funding is charged on open positions every few hours, so holding through the weekend is not free
Which market fits which trader
Traders should trade what they already trade, then choose the rule set they can live with. The three lists below rank the firms in each market with the same 1-10 score.
The wrong market with the best firm still loses. The right market with a decent firm usually gets paid.
- Forex, indices and metals on MetaTrader, with a static drawdown: a CFD firm. Ranked at /guides/best-forex-prop-firms
- ES, NQ or crude on a small budget, sized for a trailing floor: a futures firm. Ranked at /guides/best-futures-prop-firms
- Coins, 24/7 trading and daily payouts, with 3% daily limits accepted: a crypto firm. Ranked at /guides/best-crypto-prop-firms
The next step is to check the theory against real program rules.
See the ranked firms for each marketThis is educational content, not financial advice. The formulas assume independent trades and accurate backtests, and real trading is streakier. Traders should never risk money they cannot afford to lose.