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Prop firms · 2 reviewed
Prop trading firms.
Get funded to trade firm capital after passing an evaluation. We cover the two most important prop firms in detail, with honest analysis of the post-2024 industry disruption that wiped out many smaller firms.
⚠️ Industry context
The prop firm industry experienced major disruption in 2023-2024. MyForexFunds, True Forex Funds, and dozens of smaller firms collapsed or shut down. We only cover firms with documented multi-year payout histories. Read our complete industry analysis for context before proceeding.
All prop firms
The two that matter.
Both firms have documented multi-year payout histories and survived the 2023-2024 industry disruption. Different positioning serves different trader profiles.
#1
Most established
FTMO
8.0 /10
Founded 2015
Total payouts $200M+
Max funded $400k
Profit split 80-90%
Why FTMO
- 9-year operating history with public payout records
- Survived 2023-2024 industry collapse intact
- MetaTrader 4/5 + cTrader supported
- Established reputation = lowest risk
Best terms
FundedNext
7.5 /10
Founded 2022
Total payouts Documented
Max funded $200k
Profit split 85-90%
Why FundedNext
- Higher profit split than FTMO (85-90% vs 80-90%)
- No time limits on evaluation phases
- More flexible drawdown rules
- Growing track record since 2022
How prop firms work
The 4-step process.
From evaluation purchase to getting paid. Simple in theory, statistically difficult in execution.
01
Pay evaluation fee
$50-$1,500 depending on account size. This is your only direct cost.
02
Pass evaluation
Hit profit target (typically 8-10%) without exceeding drawdown limits. 10-18% pass rate.
03
Get funded
Receive demo account labeled “funded”. Trade according to firm rules.
04
Withdraw profits
Get 80-90% of profits, firm keeps 10-20%. Payouts typically monthly.
Honest analysis
The reality of prop firms.
What the industry doesn’t market clearly.
What you should understand before paying for an evaluation
Prop firm marketing emphasizes the upside (six-figure funded accounts) without contextualizing the realistic outcomes:
- Most evaluations fail. 10-18% pass rate at major firms. The 82-90% who fail lose their evaluation fee with no compensation.
- Even passing doesn’t guarantee profits. Funded accounts have same drawdown rules — many funded traders blow accounts within first few months.
- Realistic payouts. Top performers earn $1,000-$5,000 monthly after 12-24 months development. Sustained six-figure income is rare even among successful prop traders.
- The funding model. Most firms primarily profit from evaluation fees, not from trader losses or profits. This means firm sustainability requires constant new evaluators — a model that worked during 2020-2022 growth and failed for many firms in 2023-2024.
- Sustainable approach. Treat evaluation fees as education costs. Budget for 2-4 attempts. Don’t quit your job hoping prop trading replaces income within months.
For a complete analysis of the industry disruption and what survives in 2026, read our complete industry outlook.