Read about the cheapest prop firms, considering monthly recurring subscription costs, one-time fees, educational resources and more.
The cheapest prop firms are less expensive and enable proprietary traders to test the waters of prop trading at low costs. In this article, we compare the cheapest prop firm challenges and rank them based on their costs and account sizes.
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Cheapest Prop Firms
The cheapest prop firm challenge with a $50K account and only one step to get funded is TradeDay. Earn2Trade also has a great offer for their 50K account. Both companies offer a 1-step challenge, and both have the beneficial end-of-day drawdown calculation.
Below, you find the full overview of the cheapest prop firms. To evaluate the lowest-price prop firm offering, we’ve included the current promotions in the calculation to compare on the correct level since what you have to pay right now is what counts. Retail prices play a secondary role when discounts and promotions are active.
1. TradeDay
TradeDay is the best cheapest prop firm specializing in futures trading on our list of the cheapest prop firms. It is a reputable prop firm, founded in the year 2000 and offers a great variety of prop firm challenges. You can choose between 50K, 100K and 150K account sizes and Static, Intraday and End of Day account types.
Right now, trading challenges are available with a 30% discount on all account sizes. The intraday 50K account currently costs $69 instead of $99. The decision of what account type to choose depends a bit on your trading style. The intraday accounts have the daily drawdown limit applied in real time anytime, while with end of day accounts, the drawdown limit is calculated only once every day at the end of the day. Static accounts never trail the drawdown limit.
New: With all discounts below, you’ll ensure that you dont pay an activation fee once funded (this saves you another $139 besides the 30% Off of any account size).
| Account Size 💰 | Trailstop Type 🚀 | Costs 👛 |
|---|---|---|
| 50K | Intraday | |
| 50K | Static | |
| 50K | End Of Day | |
| 100K | Intraday | |
| 100K | Static | |
| 100K | End Of Day | |
| 150K | Intraday | |
| 150K | Static | |
| 150K | End Of Day |
2. Earn2Trade
Earn2Trade is another great prop firm for futures traders and was foundet in 2016. They currently run a promotion with a 40% discount on multiple trading account sizes.
The 40% discount works for the Trader Career Path, where traders can scale their account from $25K, $50K or $100K all the way up to $400K, and the traditional Gauntlet Mini program is currently also available with a 40% discount for the 50K, 100K, 150K and 200K accounts.
The cheapest Trader Career Path (TCP) with $25K virtual starting capital costs $90. The fee is a monthly fee, but traders can pass the challenge within 10 days, so under perfect conditions, the fee only has to be paid once. For the Gauntlet Mini program, the $50K account has the lowest costs with currently $102 per month.
| Product 🚀 | Account Size 💰 | Costs 👛 |
|---|---|---|
| Trader Career Path | 25K (TCP25) | |
| Trader Career Path | 50K (TCP50) | |
| Trader Career Path | 100K (TCP100) | |
| The Gauntlet Mini | 50K (GAU50) | |
| The Gauntlet Mini | 100K (GAU100) | |
| The Gauntlet Mini | 150K (GAU150) | |
| The Gauntlet Mini | 200K (GAU200) |
3. Topstep
Topstep is a futures-trading specialized prop firm, with its headquarters in the United States. Their retail pricing is competitive starting with $165 per month for the account with 50K buying power.
Those who reach the profit target of $3K get funded with a $50K buying power account. The costs are monthly, but the minimum trading days are reduced to only two days.
So, if you reach the profit target within 2 days or within the one month you paid for, you will get funded, and there will be no recurring charge for the next month. The challenge type is a one-step challenge, which means that those who make it through the one challenge get funded with a funded account.
Topstep is a market leader founded in July 2012, which adds to its credibility.
4. Apex Trader Funding
Apex Trader Funding is also a prop firm specializing in futures trading. The company was founded in 2021 and has a great payout history, with an average payout of over $10 million per month to their funded traders.
The low cost entry account size is 25K, which is available for retail pricing of $147 per month. The 50K account costs $167 per month. Additional account sizes are 100K, 150K, and 250K, but they are not that cheap.
One thing to keep in mind with Apex Trader Funding is that their standard accounts have a Rithmic data feed, which works great. If you want to use Tradovate for some reason, all accounts cost $40 more per month.
Also, keep in mind that Apex Trader Funding uses intraday real-time values to evaluate your drawdown level. This is a slight disadvantage to cheap prop firms using end-of-day drawdown level calculation, such as Topstep, Earn2Trade and TradeDay.
5. Take Profit Trader
Take Profit Trader is a smaller prop firm for futures traders, who want to trade their trading strategies without risk and trading capital. It is not the cheapest prop firm, but it is still worth mentioning.
Their entry account balance is 25K for $150 per month, while the 50K account only costs $170 per month. As you can see, it is not really worth it to join the lowest-priced challenge because the price difference is only $20 for the 50K account.
The profit split is fair at 80% for normal Pro accounts and 90% for Pro+ accounts. However, it’s not 100% for the first profits like all other previously mentioned cheap prop firms offer it.
Bottom Line
The cheapest prop firms with the highest discounts and biggest account sizes are Topstep and Earn2Trade. Both come with monthly recurring costs, but the minimum trading days are at a level where, in the best case, a trader only needs one month of evaluation before getting funded.
Overall, the cheapest prop firms are worth it for beginners who want to put prop trading to the test. The higher the costs, the more capital a trader can trade and manage. Those who want to get immediately funded decide on the best instant funded prop trading firms.
Such accounts have the benefit that there is no need to pass a challenge before getting funded, and traders of directly funded accounts are entitled to be paid according to the agreed payout split from the first day.
Always keep in mind the prop firm industry is still in its early days. They have to figure out what profit splits work for them to stay profitable as a company. Their trading capital decides about the possiblity that you can trade. Seasoned traders, as well as experienced traders, can make a good living from prop trading, but it takes a while to find a reputable prop firm which is empowering traders right from the beginning and helps them successfully go through their trading journey in order to make significant profits.
Comparison Table (50K Accounts) Lowest Costs With Discounts
| Prop Firm | Account | Costs | Phases |
|---|---|---|---|
| TradeDay | 50K | $75-$99 code: PFA | 1 Step |
| Earn2Trade | 50K | $102 code: DISCOUNT | 1 Step |
| Topstep | 50K | $165 | 1 Step |
| Apex Trader Funding | 50K | $167 | 1 Step |
| Take Profit Trader | 50K | $170 | 1 Step |
Why Don’t You Have Forex Prop Firms on the List?
In the past 12 months, various forex prop firms went bankrupt and disappointed forex traders. It appears that especially this sector faces more challenges in running a profitable business so that traders can be paid on time.
Maybe it has something to do with the oversight of those companies. Maybe it is too little capital founders brought in or the trading platforms. That’s all theory. The only fact is that is only affected forex prop firms so far.
That’s why we focus on futures prop firms with good reputations in the industry, known for significant capital, in-time payouts and a good choice of funded accounts.
FAQs
What Is a Prop Firm?
A prop firm, short for proprietary trading firm, is a company that provides capital to traders to trade the financial markets. Proprietary trading firms offer funded trading accounts to traders who can prove their profitability and meet specific criteria during an evaluation process known as a prop firm challenge.
Can You Make a Living With Prop Trading?
Yes. Making a living from prop trading is very much possible. However, it depends on your skills and commitment to dealing with the financial markets, and it is nothing else than a sure-fire success to become a highly profitable prop trader.
How Much Does the Average Prop Firm Trader Make?
The average money a prop firm trader makes is a low level since most traders fail when going through a trading challenge. The most popular accounts are the cheapest ones, which have only limited buying power, so the average income is again limited. Let’s say you trade a $5K account and reach the target of 10% profit. Then you make $500, and only parts can be withdrawn (based on your profit split).
How Do Prop Firm Challenges Work?
During a typical prop firm challenge, traders must achieve a specific profit target within a certain timeframe while following the prop firm’s rules on trading style, risk management, maximum drawdown and other metrics. Traders who pass the challenge get a funded account and keep a split of the profits they generate, usually 80-100%. 80-100% means that the trader can withdraw 80-100% of the profits he makes.
The benefit for traders is access to a large pool of capital, often up to $250,000 or more. This allows profitable traders to drastically increase their earning potential compared to the limitations of trading their own capital. Prop firms take on the financial risk while the trader focuses solely on trading.
What to Look for in a Cheap Prop Firm?
When evaluating the cheapest prop firms to fund your futures trading, consider the profit split, profit target, type of drawdown calculation, minimum of trading days, scaling plans, withdrawal rules and reputation of the prop firm.
The cheapest prop firm isn’t necessarily the best if it has unrealistic targets, hidden fees, or a poor reputation for paying out withdrawals. Look for an established prop firm that balances affordable pricing with fair trading conditions and opportunities to grow.
Can I Use Automated Trading Strategies in a Prop Firm?
If you consider joining a prop trading firm to use automated trading strategies, then you won’t be that happy doing so. Prop firms typically do not allow to trade with trading robots, replicate other traders trades, or use trade automation. Even news trading is strictly prohibited by the defined trading rules in most cases.
You are well advised to check the exact prop firm you choose. Otherwise, if you trade against their trading rules, you’ll never get a payout. When trading a challenge account, this might be okay with you, but imagine you have a funded trading account, reach the profit targets, and then the prop firm says they won’t pay. You’ll definitely avoid that.
See Also: Best Prop Trading Firms
Alexander Voigt • Senior Editor & Founder of DAYTRADINGz
Alexander is a day trader and investor with over 20 years of experience analyzing and trading the financial markets. He wrote for Benzinga and Equities.com and has been quoted on leading financial websites such as Business Insider, Investors.com and Forbes.