Data read 11 Nov 2026 158 prop firms · 10,748 terms · 11 exchanges

    Try asking

    Jump to an area

    What is a prop firm? How evaluations and funded accounts work

    A paid test

    You pay a fee, pass a trading test, then share the profit.

    Read · how it works · Link to this fact

    Last updated Data read by our script

    How we got this

    How: Every figure here comes from our prop firm datasets: each firm's own pages, read by our script from a US network address between 10 November 2026 and 11 November 2026, with the firm's words saved behind each value. How we checkHow we make moneyCorrections

    A prop firm (proprietary trading firm) sells traders a test, called a challenge or an evaluation. Reach its profit target without breaking its loss limits and you get a funded account, often a simulated one, and a share of the profit. You pay the fee whether you pass or not, and most traders don't pass: the 9 firms that publish a pass rate state 7.35% to 36.22%.

    Pass rates firms publish

    7.35%–36.22%

    9 firms, their own figures, read 10 Nov measured

    Got at least one payout

    18.04%–39.2%

    4 firms publish this, read 10 Nov measured

    Median cost to a funded $50K

    $158

    futures, 29 firms, first-time pass, read 11 Nov judged

    Key terms the median firm states

    14 of 16

    50 futures firms, Fine Print Index, read 11 Nov measured

    How many traders pass, by each firm's count

    read 10 Nov 2026

    Prop firms that publish a pass rate state 7.35% to 36.22% (9 firms, read 10 November 2026), and reaching a funded $50K futures account cost a median $158 at the prices 29 firms showed on 11 November 2026 (first-time pass, judged), according to TradingLookup's prop firm datasets (November 2026).

    Each firm counts its own pass rate (accounts or people, its own period), so the figures are not comparable and we don't rank firms by them. Prices are the ones shown on the day we read them, mostly promotions.

    What is a prop firm?

    Today it usually means a firm that sells trading tests, not one that trades its own money.

    • Prop trading, the original meaning

      Proprietary trading, or prop trading, means a firm trading its own money for its own profit rather than for clients. At a bank or a trading house, that's a desk of employees.

    • The prop firms traders search for today

      They work differently: they sell evaluations online to anyone who pays, and the account you trade after passing is often not real money.

    Call their accounts simulated, in their own words

    At least86of the 158 prop firms we read on 11 November 2026 measured

    A minimum, not a full count: we save the words behind each figure, not every page. Moving up to a live account is rare in the firms' own figures (how rare).

    All activity occurs in a simulated environment using virtual funds

    Apex Trader Funding , futures · apextraderfunding.com, read

    BEM Funding provides access to trading accounts within a simulated environment.

    BEM Funding , forex · bemfunding.com, read

    No. Everything happens in a simulated environment on live market data from partner exchanges.

    Bitfunded , crypto · bitfunded.com, read

    What is a funded trading account?

    A funded trading account is the account a prop firm lets you trade after you pass its paid test, for a share of the profit.

    A funded account in trading is not your own money, and often not a live market account: at least 86 of the 158 prop firms we read call their accounts simulated in their own words (on 11 November 2026). You trade it under the firm's loss limits and ask for payouts under its payout rules; break a limit and the account usually closes. You pay for the test whether you pass or not, and the 9 firms that publish a pass rate state 7.35% to 36.22%.

    What the firms' own pages say, read on 11 November 2026

    What it costs to reach one
    A median $158 for a funded $50K futures account (29 firms, first-time pass, read 11 November 2026) judged; for $100K forex evaluations, a median $524 for each firm's cheapest (read 11 November 2026)
    Your share of the profit
    70% to 100%, median 90% (the highest split each of 143 firms states) judged. Topstep's words, for example: 90/10 (trader 90%)
    Sourcehelp.topstep.com90/10 profit split — you keep 90% · help.topstep.com (archived copy), read
    When you can be paid
    44 of 50 futures firms say when you can ask; 38 state a payout minimum (Fine Print Index, 11 November 2026). Where a futures firm states one figure, the median minimum is $375 (26 of the 50 we read, 11 November 2026) judged. Side by side: payout rules compared. Topstep's words: $125
    Sourcehelp.topstep.comMinimum Payout: $125 · help.topstep.com (archived copy), read
    What ends it
    The maximum loss (drawdown): end-of-day trailing at 45, intraday trailing at 13 and static at 5 of the 50 futures firms we read (a firm with several plan types counts in each, read 11 November 2026). How each type works: the maximum loss; the firms: end-of-day drawdown prop firms.

    From our US Futures Prop Access Ledger, forex and crypto prop firm ledgers: each firm's own pages, with its words saved behind each value. "Judged" is our arithmetic on the firms' figures.

    How much does a $50,000 funded account cost?

    At the 29 futures firms that show a $50K route, reaching a funded $50K account cost $59 to $530, a median of $158, at the prices shown on 11 November 2026 judged. That is the test price plus any activation fee, if you pass first time; resets, monthly rebills and data fees come on top. Firm by firm: $50K plans by cost to funded.

    How do funded accounts work?

    Five steps, from paying for the test to being paid. Firms call the test a challenge, an evaluation or a combine, but the pattern is the same.

    1. Pay for the test

      A one-off fee, or a monthly one for as long as the test stays open.

      21 of 48 futures firms with a price bill monthly on at least one plan judged

      Every plan
    2. Take the evaluation

      Some tests have one stage, some two.

      57 of 80 forex firms offer a 2-step evaluation, and 48 a 1-step

      Forex firms
    3. Trade to the rules

      Reach the profit target without hitting the maximum loss, and often a daily loss limit too.

      Target 2%–18%Max loss 3%–15%

      of the account, on the forex plans we read judged

      Every forex plan
    4. Move to a funded account

      Some firms charge an activation fee at this point.

      7 futures firms say at least one plan has none

      The list
    5. Ask for a payout

      Your share of the profit, when the payout rules allow: a minimum amount, a schedule and a profit split.

      90% to you: the median firm's highest split, of the 143 firms that state one judged

    The counts are from our futures and forex ledgers, read 11 November 2026.

    Worked example: Topstep's Trading Combine 50K

    Topstep$50K futures planAn example, not a recommendation

    One real plan, every value from Topstep's own pages, read 11 November 2026. Press Source under a value for the firm's words.

    1. Pay for the test

      $85 a month

      Price shown
      $85
      Sourcetopstep.com$50K Buying Power Sales price: $85 Original price: $95 /month · topstep.com, read
      Before the discount
      $95
      Sourcetopstep.com$50K Buying Power Sales price: $85 Original price: $95 /month · topstep.com, read
      Billing
      monthly
      Sourcetopstep.comOriginal price: $95 /month · topstep.com, read
      Reset (start the test again)
      $85
      Sourcetopstep.comReset Fee: $85 Monthly Reset Credit on Rebill: Included Express Funded Activation Fee: Free · topstep.com, read

    2. Pass the test

      +$3,000 Profit target$53,000 · reach it to pass

      Starting balance$50,000

      −$1,000 Daily loss limit$49,000 · in any one day

      −$2,000 Maximum loss$48,000 · end-of-day trailing

      Where the lines sit on day one judged. An end-of-day trailing line then rises with your highest closing balance.

      Consistency rule
      Trading Combine: 55% consistency target+1 more
      In fulltopstep.comTrading Combine: 55% consistency target; XFA Consistency path: best day max 40% of net profitConsistency Target: 55% … Your largest single day cannot exceed 40% of your total net profit. · topstep.com, help.topstep.com (archived copy), read
      Sourcetopstep.comProfit Target: $3,000 Consistency Target: 55% Max Loss Limit (One Rule): $2,000 Max Contract Limit: 5 mini / 50 micro Responsible Trading Advantage Daily Loss Limit: $1,000 … Account balance high - maximum drawdown = Maximum Loss Limit (which is set at the end of each day) · topstep.com, read
      Drawdown, in Topstep's words: end-of-day trailing: Max Loss Limit trails the highest end-of-day…+1 more
      In fulltopstep.comend-of-day trailing: Max Loss Limit trails the highest end-of-day balance (set at the end of each day); Express Funded locks at $0, its starting balanceThis limit is based on your highest end-of-day balance and does not go down if you lose money the next day. … If your Max Loss Limit balance increases to $0, your account will lock at $0. … Each Express Funded Account starts with a $0 balance … Account balance high - maximum drawdown = Maximum Loss Limit (which is set at the end of each day) · topstep.com (archived copy), topstep.com, read

      16.8% of Topstep's evaluations passed (Jan–Dec 2025, its words), about one pass in 6 attempts judged

    3. Receive the funded account

      No activation fee

      Activation fee
      $0
      Sourcetopstep.comReset Fee: $85 Monthly Reset Credit on Rebill: Included Express Funded Activation Fee: Free · topstep.com, read
      Cost to funded judged
      $85Price plus activation fee, if you pass inside the first month. Resets, data and platform fees left out.

    4. Ask for a payout

      90% of the profit to you

      Payout minimum
      $125
      Sourcehelp.topstep.comMinimum Payout: $125 · help.topstep.com (archived copy), read
      Profit split
      90/10 (trader 90%)
      Sourcehelp.topstep.com90/10 profit split — you keep 90% · help.topstep.com (archived copy), read
      When you can ask
      After 5 winning days
      In fullhelp.topstep.comXFA Standard: after 5 winning days of $150+, up to 50% of balance per request, capped at $2,000 (50K), $3,000 (100K) or $5,000 (150K); XFA Consistency caps $3,000/$4,000/$6,000; Live: daily after 30 winning days5 winning days of $150+ Net P&L. Days don't need to be consecutive. … Max Payout per request: 50% of your account balance up to the cap below. Account Size XFA Standard XFA Consistency $50K $2,000 $3,000 $100K $3,000 $4,000 $150K $5,000 $6,000 … Once you've earned $150+ Net P&L on 30 non-consecutive days in your Live Funded Account, you unlock daily Payouts · help.topstep.com (archived copy), read

      A request at the $125 minimum leaves you $112.50 at a 90% split, before any payment fee judged.

    We picked this plan mechanically: Topstep's pages state the most of these terms for a $50K plan. Everything else it states: Topstep rules and fees.

    What does a prop firm challenge cost?

    The price on the plan card, plus anything due before you're funded.

    The cheapest plan each firm showed on the day we read it

    Futures: cost to a funded $50K
    $158
    from $59to $530
    Median of 29 firms, $159 at list prices. Read 11 November 2026 judged
    Forex: cheapest $100K evaluation
    $524
    from $149to $5,000
    Median of 45 firms, with any activation fee. Read 11 November 2026 judged
    Crypto: cheapest $100K evaluation
    $540.25
    from $199to $1,099
    Median of 18 firms, with any activation fee. Read 11 November 2026 judged

    The prices are the firms' own (measured); the medians are our arithmetic: half the firms charge less, half more. The tick on each bar is the median.

    What a plan card leaves out

    • Retries 3–14 attempts
      for an average pass at the pass rates firms publish, if every attempt had the same odds judged.

    • Monthly billing
      On a monthly plan, a test that takes three months costs three times the price.

    • Resets 40 of 50 firms
      Futures firms on the Fine Print Index that state a fee for starting the test again (11 November 2026).

    • Activation, data and platform fees
      Due after passing, or monthly, on some plans. Each firm's page lists the ones it states.

    Add up your own case with the true cost calculator, or see every firm's $50K route in $50K plans by cost to funded.

    What happens if you blow a funded account?

    Break a loss limit and the account usually closes: you buy a new test or pay for a reset. Three rules do most of the damage judged.

    The maximum loss (drawdown)

    How the 50 futures firms we read describe their drawdown on any plan, read 11 November 2026. A firm with several plan types counts once in each.

    Your balanceThe loss lineSketches, not data.Trailing, type not named: 3 of 50 · Not stated: 2 of 50.

    76 of the 80 forex firms describe their maximum loss firm-wide, and 64 of those call it static (read 11 November 2026). See where your line sits after each day with the drawdown calculator.

    The daily loss limit

    A cap on how much you can lose in one day, on top of the maximum loss.

    Forex firms that state one on at least one plan67 of 80

    2%–7.5% of the account judged (every forex plan, read 11 November 2026)

    The Trading Combine 50K in the example has one of $1,000. The lot size and futures calculators check a losing trade against it.

    What is the consistency rule?

    A cap on how much of your profit can come from a single day, at the evaluation, at payout or both.

    Futures firms that say what theirs is46 of 50

    Forex firms that say what theirs is71 of 80

    6 futures firms drop it once you're funded on at least one plan (the list)

    Futures counts from the Fine Print Index (11 November 2026). Check a day against the rule with the consistency rule calculator.

    Other rules that can end an account or hold up a payout:

    Each firm's page lists what its own pages say; every firm's news rule is on prop firm news trading rules. Your odds of hitting the maximum loss before the target: the risk of ruin calculator.

    How many traders pass a prop firm challenge, and how many get paid?

    Few firms say. Of the 53 prop firms we checked, 10 print a pass or payout rate on their own site (read 10 November 2026; 2 couldn't be read).

    1. Passed the evaluation

      7.35%–36.22%

      9 firms: from 1 in 14 (FunderPro) to 3 in 8 (Take Profit Trader) measured

    2. Got at least one payout

      18.04%–39.2%

      4 firms, of their funded traders or accounts measured

    3. Moved to a live account

      0.71%–5.23%

      5 firms, of their funded traders, each counted its own way (read 10 November 2026) measured

    Counting people instead of accounts changes the answer, because many traders buy more than one test judged.

    • Topstep Jan–Dec 2025

      Of its evaluations, passed16.8%

      Of the people who took one, passed51.8%

    • Tradeify Aug 2025–Jul 2026

      Of its evaluations, passed17.2%

      Of the people who took one, passed40.3%

    Each firm picks its own period, base and definition, so these figures aren't comparable and we don't rank firms by them. Every figure in the firm's own words: prop firm pass and payout rates.

    How do prop firms make money?

    Fees come first, and every trader pays them. Payouts are a cost, paid to the few who get that far.

    Fees come first
    • Evaluation fees
    • Monthly rebills
    • Resets
    • Activation, on passing

    Paid up front, whether you pass or not; activation fees are paid on passing, before any payout. Fees are the one income every trader brings.

    fees, up front

    Most traders don't pass

    At the pass rates firms publish, most of those fees come from traders who never reach a funded account judged.

    payouts, from the firm's money

    Payouts are a cost

    On a simulated account the profit is a figure on the firm's platform, so your share is paid from the firm's own money judged.

    In one firm's words: Once approved, traders keep up to 100% of simulation profits up to $25,000. (Elite Trader Funding, elitetraderfunding.app, read ).

    $1,519–$19,098

    Fees per paid trader. Set a firm's own pass and payout rates against its price and you get a rough figure: this much in evaluation fees for every trader paid at least once, at the 3 futures firms that publish both rates and state a $50K route judged (cost per payout, read between 10 November 2026 and 11 November 2026).

    We don't estimate any firm's revenue or profit: none of our datasets records them.

    Are prop firms legit? Are they regulated?

    We don't give a verdict on any firm. What we can show is what firms put in writing, including what they say about their own regulation.

    What the record shows

    14 of 16 key terms stated by the median firm: its Fine Print Score measured

    50 futures firms on the Fine Print Index, 11 November 2026. Term by term: the red flags to check. Each futures firm's page runs the same check for that firm, under "What the record shows" (Topstep's, for example).

    What firms say about their own regulation

    138 of the 158 prop firms we read on 11 November 2026 say something about regulation on their own pages measured. In our reading of their words judged: 97 say they are not regulated, not registered or not a broker; 2 say a sister company is a registered introducing broker, while the prop firm itself isn't stated to be registered; 39 use other wording. Each firm's exact words are on its page.

    In the US

    Unresolved

    The status of the evaluation-fee model is unresolved. In 2023 the CFTC sued Traders Global Group, the company behind My Forex Funds. On 13 May 2025 the federal court for the District of New Jersey dismissed the case with prejudice, as a sanction against the CFTC after a Special Master found the agency had misled the court, with no ruling on the merits (Finance Magnates, 14 May 2025). The CFTC's allegations were never tested, and the dismissal settles nothing about the model either way. Whether an evaluation fee counts as an interest in a commodity pool is, as far as we can find, still an open question.

    In the UK

    Financial promotion rules

    An invitation to pay for a challenge from a firm the FCA hasn't authorised is very likely a financial promotion, which needs approval from an FCA-authorised firm judged. We have found no such approval for any prop firm, so our prop pages carry no affiliate links or sign-up buttons: where we link to a firm, it's to the page a figure came from. To check a firm yourself, search its name on the FCA register.

    Not legal advice. We haven't researched the rules in the EU or elsewhere yet.

    Before you pay: the red flags to check

    A gap isn't proof of anything. It's a question to put to the firm, in writing, before you pay.

    How many of the 50 futures firms we read state each term on their own pages (11 November 2026). The bars run out of 50.

    UK readers: the FCA register. Search the firm's name on the FCA register to see whether it is authorised.

    Futures, forex and crypto prop firms: what's different?

    Each market runs its evaluations differently, so we compare each one on its own.

    Asking whether funded accounts are permissible in Islam? See is prop firm trading halal? What scholars have said.

    Where these figures come from

    All provisional: read by our script from each firm's own pages and checked against the saved text. No person has re-read every page yet. "Measured" is a figure as the firm states it; "judged" is our arithmetic or our reading of the firm's words. No link on this page earns us anything.

    Spotted a mistake? Tell us with evidence; fixes go on the corrections page. All prop firm pages.

    Get prop firm price drops by email

    Price changes at the futures prop firms we track, and our Black Friday 2026 prop firm price tracker when it opens. Free.

    Email alerts: what each list sends