Prop Firms

Prop firms let you trade the firm's capital after passing a paid evaluation. It's a legitimate model — and also one where the fine print matters more than almost anywhere else in retail trading.

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Prop Firms

What Is a Prop Firm? Beginner's Guide to Funded Trading Challenges

How the evaluation model actually works, step by step.

Prop Firms

Prop Firm vs Direct Broker Trading: Which Is Right for Beginners?

Two different paths with different risks — how to work out which fits your situation.

Prop Firms

Instant Funding vs Two-Phase Challenge: What You're Actually Buying

The two prop firm models price the same risk differently — including the cost the cheaper option hides.

Prop Firms

Is a Prop Firm Challenge Worth It? An Honest Cost Breakdown

The real cost basis — fee, resets, opportunity cost, and the breakeven point most traders never calculate.

Before you pay

Prop Firms

How to Choose a Prop Firm: Checklist Before You Pay

The full pre-payment checklist — rules, payouts, and reputation checks.

Prop Firms

How to Verify a Prop Firm Actually Pays Out

Payout screenshots on a marketing page prove nothing. Here's what actually counts as evidence.

Prop Firms

The Prop Firm Rules That Void Your Payout (And Why They're Buried)

Most failed payouts aren't refusals — they're rule violations the trader didn't know existed.

Prop Firms

Prop Firm Profit Split Explained: What You Keep After Everything

An 80/20 or 90/10 split sounds simple until you count the fees that come off first.

If a firm is already showing trouble

Prop Firms

Prop Firm Red Flags: The Cash-Flow Warning Signs

The five signs that consistently preceded past prop firm collapses, in the order they usually appear.

Prop Firms

What Happens If Your Prop Firm Shuts Down?

What an unpaid balance actually is when a firm goes dark, and what to do about it.

The three things that decide most disputed evaluations

  1. How the daily loss limit resets. Server time, a specific hour, or calendar day? This single detail causes more disputed rule violations than anything else. Get it in writing before you start.
  2. What counts as a restricted strategy. News trading, weekend holding, EAs, hedging, copy trading — restrictions vary by firm, and a strategy that's fine at one firm can fail you instantly at another.
  3. What the payout process actually requires. Minimum amounts, waiting periods, and verification steps are often only fully described in the terms document, not the marketing page.

Firms we've checked

We don't publish ranked "best prop firm" lists — most of them are marketing copy dressed up as comparison. What we do instead: run each firm through the verification process above before mentioning it here, and re-check quarterly. So far that's two firms.

Verified Aug 2026

FTMO

10-year operating history, $500M+ reported paid out since 2015, 4.8/5 on Trustpilot from 46,000+ reviews. No pattern of payout-withholding found in independent sources as of this check. Not a guarantee of future conduct — see the full writeup for what we checked and when.

Verified Aug 2026

FundedNext

Operating since 2022, $261M+ paid to 93,000+ traders as of April 2026, 4.5/5 on Trustpilot from 62,000+ reviews, 24-hour payout guarantee backed by a $1,000 penalty clause. Also worth knowing: a recurring complaint theme around accounts terminated for rule violations shortly before payout, a 3.5% withdrawal fee, and a "temporary" leverage reduction still in effect as of April 2026. See the full writeup for details.

For any firm not listed here, the most useful thing you can do is search its name alongside "payout" or "withdrawal problem" and read what actual traders report — independent accounts are worth more than any firm's own testimonials page.

Prop firm evaluation fees are generally non-refundable, and most attempts across the industry do not pass. Treat the fee as a real cost you may not recover. Nothing on this page is investment advice.