PropRadar
Prop firm challenge guide

Prop firm challenge: how it works, what it costs and 88 programs compared

A challenge is the paid test you take before a prop firm funds you. This page explains the models and the rules that end an account, then compares the programs PropRadar has read on the firms' own pages, with the date each file was checked.

Reviewed by PropRadar ResearchNumbers come from sourced firm files only. Nothing is estimated.
Compare challengesFull comparison table
Programs compared
88
Firms
64
Lowest entry fee
$9
Median entry fee
$63

What a prop firm challenge is

A proprietary trading firm (prop firm) sells you a test on a demo or simulated account. You pay an entry fee, trade under fixed rules and, if you reach the profit target without breaking a loss limit, you get a funded account. On that account you keep a share of the profits, the profit split, and the firm keeps the rest.

The fee is the firm's main revenue when traders fail, so the rules matter more than the headline account size. Two challenges with the same price can be very different once you read how the drawdown is measured, whether there is a consistency rule, and what the firm requires before the first payout.

The four challenge models

Two-step (and three-step) challenges

The classic format: a first phase with a higher target, then a second phase with a lower one, under the same loss limits. For example, FTMO Challenge lists 10% then 5% on the two-step model with a 5% daily and 10% maximum loss limit and The5ers High Stakes lists 8% then 5% with a 5% daily and 10% maximum loss limit.

One-step challenges

A single phase, faster to pass on paper, usually with a tighter maximum loss. City Traders Imperium CTI 1-Step Challenge, for instance, lists a profit target of 8% and a maximum loss of 5% relative, balance-based.

Instant funding

No test: you pay more for an account that is funded from day one, but rules are often stricter and the payout conditions carry the risk. PropRadar tracks 13 instant-funding programs with a listed fee below. Read the instant-funding guide.

Futures evaluations

Futures firms run evaluations on CME products, usually with a trailing or end-of-day drawdown in dollars rather than a percentage, and sometimes a monthly fee and an activation fee for the funded account. Compare futures prop firms.

The rules that end a challenge

  • Daily loss limit. A cap on what you can lose in one trading day. Check whether it counts open (floating) losses and at what time the day resets.
  • Maximum loss (drawdown). Static drawdown stays fixed at the starting balance; trailing drawdown follows your highest balance or equity; end-of-day (EOD) drawdown only moves at the close. The same percentage can be much harder on a trailing account. How each drawdown type works.
  • Profit target and minimum days. Some firms require a minimum number of trading days before you can pass, even if the target is reached on day one.
  • Consistency rules. A cap on how much of your profit can come from one day. They often apply at payout time rather than during the test. Firms without a consistency rule.
  • News, EAs and copy trading. Trading around high-impact news, using expert advisors or copying trades can be restricted on one stage and allowed on another. News trading rules · EA and algo rules.

Five checks before you pay for a challenge

  1. Who you are paying. Find the legal entity and its country. PropRadar maps the companies behind each firm on its legal map.
  2. Payout evidence. A challenge is worth nothing if payouts stall. See the sourced payout incidents.
  3. Review status. Trustpilot sometimes withholds a firm's rating after removing fake reviews. Which firms are affected.
  4. Recent rule changes. Every firm file has a dated update history; rules often change for new orders only.
  5. Discounts and affiliates. A code lowers the fee, not the risk. Current codes stay attached to each firm's risk file, and affiliate links are disclosed.
Compared from sourced firm files

Prop firm challenges compared

"Fee from" is the smallest account before discounts, as listed in the firm file on the date shown. Confirm the price and rules on the firm's site before buying. Sorted by PropRadar score.

Forex and CFD challenges (52)

Forex and CFD prop firm challenges
Firm and programFee fromAccountsProfit targetDaily lossMax lossChecked
FTMOChallenge$155$10K–$200K10% then 5% on the two-step model5%10%
The5ersHigh Stakes$39$5K–$100K8% then 5%5%10%
Audacity CapitalFunded Trader Programs$99$5K–$500KVaries by planVaries by planVaries by plan
FundedNextEvaluation$59$5K–$200KVaries by planVaries by planVaries by plan
Alpha Capital GroupAlpha Pro Evaluation$97$5K–$200KVaries by planVaries by planVaries by plan
FintokeiPrograms$79$5K–$400KVaries by planVaries by planVaries by plan
Trade The PoolStock Trading Program$97$20K–$260KVaries by planVaries by planVaries by plan
E8 MarketsE8 Challenge$48$5K–$500KVaries by planVaries by planVaries by plan
City Traders ImperiumCTI 1-Step Challenge$59$3K–$200K8%None listed on the official comparison table5% relative, balance-based
City Traders ImperiumCTI 2-Step Challenge$39$3K–$200K10% in phase 1, 5% in phase 25%10% static, balance-based
Funded Trading PlusPrograms$119$5K–$200KVaries by planVaries by planVaries by plan
FXIFYOne Phase$250$5K–$400K1 phase, target to confirm by account sizeVaries by planstatic or trailing depending on options
FXIFYLightning Challenge$59$5K–$100K5%Varies by planVaries by plan
BrightFundedEvaluation$49$5K–$400KVaries by planVaries by planVaries by plan
FunderProOne Phase, Pro and Classic challenges$69$5K–$200K10% in phase 1, 5% in phase 25% (the FAQ states 3% for One Phase), balance-based, resets at 5 pm EST10% (type not stated)
Maven TradingMaven Challenge$14$2K–$200K8% / 5% depending on model2% to 4% depending on model3% to 8% depending on model
PipFarmProgramsWatchlist$49$5K–$300KVaries by planVaries by planVaries by plan
Breakout PropBreakout Crypto Evaluations$20$5K–$200KVaries by planVaries by planVaries by plan
Funding PipsEvaluationWatchlist$20$5K–$100KVaries by planVaries by planVaries by plan
Funding Traders2-Step PRO6$49$5K–$200K6% in phase 1, 6% in phase 23%6% (type not stated)
Funding Traders2-Step PRO10$90$5K–$200K10% in phase 1, 5% in phase 25%10% (type not stated)
Funding Traders1-Step PRO$59$5K–$200K10%3%10% (type not stated)
GOAT Funded TraderGOAT Challenges / InstantWatchlist$35$3K–$400KVaries by plan4% to 5% depending on model6% to 10% depending on model
Lark FundingProgramsWatchlist$49$5K–$200KVaries by planVaries by planVaries by plan
The Concept TradingProp AccountsWatchlist$65$1K–$200K6% to 10% depending on model/levelNo daily drawdown advertised3% to 10% static drawdown depending on model
Blue GuardianProgramsWatchlist$47$5K–$200KVaries by planVaries by planVaries by plan
IC Funded2-Step ProfessionalWatchlist$74$5K–$500K10% in step 1, 5% in step 25% of end-of-day equity10%, fixed on the initial balance
TenTradeFunded TraderWatchlist$32$1K–$500KNone on instant accounts; 10% on 1-step challenge accounts3% to 6% depending on account size/program5% to 9% depending on account size/program
OFP FundingTwo-step challenge (8% / 5%)Watchlist$32$5K8% then 5%3%, 4% or 5%, chosen at checkout6%, 8% or 10%, balance-based
Ultimate TradersChallengesWatchlist$49$5K–$200K10% / 5% on Classic; 10% on Speedy6% on Classic; 4% on Speedy12% on Classic; 6% on Speedy
Crypto Fund TraderEvaluationWatchlist$58$5K–$200Knot tied to this program on the page readnot tied to this program on the page readnot tied to this program on the page read
Crypto Fund TraderAcceleratedWatchlist$40$5K–$200Knot tied to this program on the page readnot tied to this program on the page readnot tied to this program on the page read
Crypto Fund TraderBreak EvaluationWatchlist$70$25K–$100K$1,250 (25K), $3,000 (50K), $6,000 (100K)not stated$1,000 / $2,000 / $3,000, trailing
FundYourFXProgramsWatchlist$9$5K–$6MVaries by planVaries by planVaries by plan
OneFundedChallengesWatchlist$49$5K–$200KVaries by plan4% to 5% depending on challenge plan6% to 10% depending on plan
Sway FundedChallengesWatchlist$13$1K–$200K15% / 30% displayed on Rapid Phase 1; no target on SF Trader stage5% / 10% displayed on Rapid example10% / 20% displayed on Rapid example
WeGetFundedChallengesWatchlist$139$5K–$400K6% on displayed 1-step; program-specific for 2-step/instant/live3% to 5% depending on program4% to 10% depending on program
Tiger FundedTigerFunded EvaluationWatchlist$234$10K–$500K8% / 5% on the displayed 2-step example5%12%
WeMasterTradeChallenge and Instant PackagesWatchlist$45$10K–$200K8% phase 1 / 6% phase 2 on displayed challenge package5%10%
Orion FundedOrion Standard (2-Step)Watchlist$49$5K–$200K6% in phase 1, 6% in phase 23%6% on the initial balance, static
Orion FundedOrion Select (3-Step)Watchlist$59$5K–$200K5% in each of 3 phases5%5% on the initial balance, static
Atmos Funded2-Step StandardWatchlist$63$5K–$200K10% in phase 1, 5% in phase 25%10%, fixed
Forex Funds FlowProgramsWatchlist$49$3K–$100K5% to 10% depending on program; instant program advertises 2% payout target0% to 4% depending on program0% to 12% depending on program
Fortunes FundingEvaluationWatchlist$65$5K–$600K10% / 10% displayed on main model10% displayed on main model10% displayed on main model
Get LeveragedPortfolio Manager SimulationWatchlist$100$5K–$1M5% to 10% depending on level3% to 5% depending on levelroughly 6% to 10% depending on level
DirectFundedTraderProgramsWatchlist$10$5K–$2M6% to 10% depending on program/stage3% to 5%6% to 10%
TradeXPropX 1-Step evaluationWatchlist$45$5K–$400K10%5%6%, static
TradeXPropX 2-Step evaluationWatchlist$35$5K–$400K8% then 5%5%8%, static
Cove FundedChallengesWatchlist$56$6K–$200K10% on displayed one-step examples3% on displayed examples10% on displayed examples
SuperFundedOne Phase ChallengeWatchlist$55$5K–$200K8%3% of the day's opening balance5%, trailing according to the FAQ (another FAQ answer calls all drawdowns static)
SuperFundedTwo Phase ChallengeWatchlist$33$3K–$200K10% in phase 1, 5% in phase 25% of the day's opening balance10% of the starting balance, static
KortanaFXChallengesWatchlist$147$5K–$200K8% / 5% on displayed challenge table5%10%

Futures evaluations (23)

Futures prop firm evaluations
Firm and programFee fromAccountsProfit targetDaily lossMax lossChecked
TopstepTrading Combine$49$50K–$150KVaries by planVaries by plantrailing
Earn2TradeGauntlet / Trader Career Path$150$5K–$200KVaries by planVaries by planVaries by plan
The Trading PitFutures Prime challenge$99$50K–$150K$3,000 (50K), $6,000 (100K), $9,000 (150K)daily pause of $1,000 to $3,000 in the challenge$2,000 to $4,500, trailing on the end-of-day balance until it reaches the starting balance, then fixed
TradeDayQuick Pay evaluation$100$25K–$150K$1,500 (25K) to $9,000 (150K)not stated$1,000 (25K) to $4,500 (150K), trailing intraday or end-of-day depending on the account
TradeDayFast Pass evaluation$130$25K–$150K$1,500 (25K) to $9,000 (150K)not stated$1,000 (25K) to $4,500 (150K), end-of-day trailing
MyFundedFuturesAccounts$80$5K–$150KVaries by planVaries by plantrailing
Take Profit TraderTPT Test / PRO$99$5K–$150KVaries by planVaries by plantrailing or EOD depending on PRO+
OneUp TraderOneUp Evaluation$125$5K–$250KVaries by planVaries by plantrailing
TradeifyFutures Plans$99$5K–$150KVaries by planVaries by plantrailing depending on plan
Leeloo TradingLeeloo Evaluation$77$5K–$300KVaries by planVaries by plantrailing
UProfit TraderUProfit Evaluations$89$5K–$200KVaries by planVaries by plantrailing
TickTickTraderAccountsWatchlist$99$5K–$250KVaries by planVaries by plantrailing
Apex Trader FundingEOD Evaluation AccountWatchlist$37$25K–$300KVaries by planVaries by planEOD trailing drawdown
Apex Trader FundingIntraday Trailing Evaluation AccountWatchlist$37$25K–$300KVaries by planVaries by planintraday trailing drawdown
BulenoxEvaluationWatchlist$78$5K–$250KVaries by planVaries by plantrailing
Elite Trader FundingElite EvaluationsWatchlist$45$5K–$300KVaries by planVaries by plantrailing depending on the plan
Lucid TradingLucidProWatchlist$135$25K–$150K$1,250-$9,000 (5%-6% by account size)None on 25K; $1,200-$2,700 on larger accountsEOD trailing MLL of $1,000-$4,500
Traders LaunchFutures evaluation (standard)Watchlist$159$100K–$300K$2,000 / $4,000 / $6,000not stated$1,000 / $2,000 / $3,000, end-of-day, locks at the starting balance
Traders LaunchFutures Legacy NYC (9:30am to 4:00pm ET)Watchlist$99$100K–$300K$2,000 / $3,000 / $5,000not stated$1,000 / $1,000 / $2,000, end-of-day
Traders LaunchStatic 25KWatchlist$119$25K$1,500not stated$500, static
E8 FuturesE8 Signature Futures (1-step)Watchlist$120$25K–$150K6%2% soft daily pause in the performance stage; challenge-stage daily limit not stated2.66% to 4%, end-of-day dynamic from the highest end-of-day balance, locking at the starting balance
Alpha FuturesZero evaluationWatchlist$89$25K–$100Knot stated on the pages readnot stated on the pages readend-of-day trailing Maximum Loss Limit, stops trailing at the starting balance
Alpha FuturesStandard evaluationWatchlist$129$50K–$150K$3,000 (50K), $6,000 (100K), $9,000 (150K)Daily Loss Guard $1,000 to $3,000 on qualified accounts; not on evaluations$2,000 to $4,500, end-of-day trailing, stops at the starting balance

Instant funding (13)

Instant funding prop firm accounts
Firm and programFee fromAccountsProfit targetDaily lossMax lossChecked
Instant FundingAccount$39$625–$300Kno fixed target on some accountsno daily limit on some accounts10% then smart drawdown
The Trading PitFutures Instant (no challenge)$499$50K–$100K$3,000 (50K), $6,000 (100K) payout goaldaily pause from $1,200 / $2,200, recalculated at 60% of the best end-of-day profit$2,000 (50K), $3,500 (100K), end-of-day
City Traders ImperiumCTI Instant Funding$79$3K–$80K10% to scaleNone listed6% static, balance-based
City Traders ImperiumCTI Instant Funding Pro$229$5K–$160K10% to scaleNone listed6% static, balance-based
RZR FundedInstant24$13$2K–$100Knone2%3% total (type not stated)
RZR FundedInstant Lite$19$1K–$100Knone3%5% total (type not stated)
RZR FundedInstant Funding$43$1K–$50Knone6%6% total (type not stated)
Funding TradersInstant Account$179$10K–$400Knone3%6% (type not stated)
AquaFundedInstant Funding / ChallengesWatchlist$35$5K–$200KVaries by planVaries by planVaries by plan
OFP FundingInstant funding (95% split)Watchlist$23$5Knone3%, 4% or 5%, chosen at checkout6%, 8% or 10%, balance-trailing
Crypto Fund TraderInstant EvaluationWatchlist$125$3K–$10Knot tied to this program on the page readnot tied to this program on the page readnot tied to this program on the page read
Orion FundedOrion Zero (instant)Watchlist$199$5K–$100Knone3%6%; help center: trailing lock
TradeXPropInstant Funded XWatchlist$200$5K–$100Knone5%8%, trailing

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Direct answers

Prop firm challenge FAQ

What is a prop firm challenge?

A prop firm challenge (also called an evaluation) is a paid test on a simulated or demo account. You must reach a profit target without breaking the loss limits and other rules. If you pass, the firm offers a funded or simulated-funded account and shares part of the profits you make on it.

How much does a prop firm challenge cost?

Across the 88 programs with a listed entry fee in PropRadar's sourced firm files, the lowest starting fee is $9 (FundYourFX) and the median starting fee is $63. These are the smallest accounts before discounts; larger accounts cost more, and resets, monthly subscriptions or activation fees can add to the total.

What is the difference between a 1-step and a 2-step challenge?

A 1-step challenge has a single phase to pass, usually with a tighter loss limit. A 2-step challenge splits the test into two phases, typically a higher target first and a lower one second, often with a wider loss limit. Instant-funding accounts skip the test but usually cost more and carry tighter rules.

What happens if I break the daily loss limit?

On most programs a breach of the daily or maximum loss limit ends the account immediately, even if you were close to the target. You then need a reset or a new purchase. Check whether the limit is measured on balance or equity and when the trading day resets.

Is the challenge fee refundable?

It depends on the firm. Some firms state that the evaluation fee is refunded with the first payout from the funded account; others never refund it. The rule is in the firm terms and FAQ, which PropRadar links from each firm file.

Do prop firms actually pay out after you pass?

Payout reliability is the main risk after the challenge. PropRadar shows a payout-risk level only when it is backed by sources: 7 open firms have one today, and 13 firms in the database are recorded as closed. Read the payout section of a firm file before paying for its challenge.

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Related guides

Legal entities recorded for these firms sit in 19 countries. PropRadar is a research filter, not financial advice.