7 Best Cheapest Prop Firms (2024)

Navigating the maze of prop trading firms can be daunting, especially for traders seeking a balance between affordability and reliability. From my experience, the best, cheapest prop firms offer a golden ticket to Trading with substantial leverage without compromising on the essential support and educational resources needed to succeed.

Top Best Cheapest Prop Trading Firms

2) FTMO

7) FTUK

Funded Trading Plus stands out in the competitive landscape of prop trading firms, distinguishing itself with unparalleled access to affordable trading opportunities. Speaking from firsthand experience, their unique approach to mentorship and market engagement offers a tangible edge. Unlike its counterparts, Funded Trading Plus prioritizes trader development and success, making it an invaluable partner for both novice and seasoned traders aiming for financial market mastery.

7 Best Cheapest Prop Firms (1)

Features:

  • Comprehensive support for all trading methodologies, including Expert Advisors (EAs) and algorithmic strategies.
  • Industry-leading account growth potential, offering the opportunity to double account size with each 10% gain.
  • Revolutionary approach with no time constraints on trading strategies, setting a new standard in the sector.
  • Leverage set at 1:30, balancing opportunity with risk management.
  • Immediate processing of financial rewards.
  • Exceptionally high profit-sharing ratio, up to 90%.
  • Minimal restrictive regulations, fostering a flexible trading environment.
  • Round-the-clock customer service with genuine human interaction.
  • Thriving Discord community, boasting over 20,000 engaged members.
  • Top-rated on TrustPilot, signifying a high level of trust and satisfaction within the trading community.
  • Diverse funding options to accommodate all trader profiles.

Pros:

  • Unmatched scaling strategy within the trading firm sphere.
  • Absolute freedom with no trading deadlines.
  • Instantaneous weekly payouts start immediately.
  • Leverage conforms to the European Union's regulatory standards, ensuring safety.

Cons:

  • The requirement to achieve a 10% profit is to reset the daily drawdown limit.

Pricing:

  • Get started with an initial investment of $119.

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FTMO stands out as an exemplary prop trading firm, offering a unique fusion of brokerage services, educational resources, and a competitive arena for traders seeking professional growth. Established in 2014, it caters to forex traders with a meticulous two-phase evaluation, consisting of the FTMO Challenge followed by a Verification stage. Notably, FTMO allows traders the flexibility to select their profit split day, deviating from the standard schedule, which underscores its commitment to accommodating trader preferences.

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Features:

  • Access to trading accounts valued up to $200,000.
  • Up to 90% profit-sharing with traders.
  • Rigorous two-step evaluation process.
  • Complimentary re-test opportunity for positive balance accounts.
  • Compatibility with Expert Advisors (EAs), hedging strategies, and discretionary Trading.
  • Permits Trading during news events and overnight position holding.
  • Availability of Swap-Free Accounts for those requiring them.
  • Various trading tempo options: Normal, Aggressive, Swing.
  • Set the maximum loss limit at $500.
  • The allocated trading period extends to 44 days.

Pros:

  • Flexibility to keep positions open during the FTMO challenge and verification phases.
  • Freedom to implement any trading strategy without constraints.
  • Enables trading around news events and supports overnight positions.
  • Offers a broad selection of assets to trade, accompanied by competitively low commissions.

Cons:

  • The requirement to succeed in the FTMO challenge within a tight timeframe of 10 trading days poses a significant challenge.

Pricing:

  • The pricing structure varies from $155 to $1,080, tailored to the trader's choice of account size.
  • Option to enroll in a free trial to experience the platform firsthand.

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TopStepTrader stands out as an innovative platform offering a unique challenge to day traders aiming to prove their trading prowess. With its inception in 2012, it has swiftly ascended to prominence among the most affordable proprietary trading firms. The essence of their offering lies in allowing traders to engage with simulated markets, where they meticulously analyze performance without the need to invest personal capital. Successfully navigating their rigorous evaluation grants traders access to operate with the firm's capital in the Forex market, a testament to the trust and opportunity TopStepTrader provides to its community of traders. This model not only minimizes financial risk but also opens doors to immense growth and learning opportunities in the trading realm.

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Features:

  • Access up to $500,000 in trading capital.
  • The affordable monthly subscription model.
  • Highly regarded within the trading community for its integrity and success.
  • Straightforward trading guidelines to follow.
  • Flexibility to trade during news events, overnight, and over weekends.
  • Complimentary 14-day trial period to explore the platform risk-free.
  • Requirement to achieve a $3,000 profit target to demonstrate trading proficiency.
  • A set loss limit of $1,000 to instill disciplined trading practices.
  • Options for personalized coaching include one-on-one sessions, group workshops, or a combination of both.

Pros:

  • Tailored feedback and insights to enhance trading strategies and performance.
  • A comprehensive support system to foster growth and learning in Trading.
  • Diverse channels for communication with trading experts, including calls, chats, WhatsApp, and email, facilitate easy and accessible mentorship.

Cons:

  • Lack of passive income opportunities, such as bonuses, Automated Trading, and similar features are not offered.

Pricing:

  • Subscriptions are available from $49 per Month (USD), providing a cost-effective entry point into professional trading environments.

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Fidelcrest, renowned for its exceptional prop trading opportunities, stands out as a premier choice for those seeking affordability without compromising quality. With firsthand experience, I can attest to its efficiency in catering to traders across the spectrum. Fidelcrest not only provides diverse account sizes but also enforces a pragmatic time frame of at least 10 active trading days, ensuring flexibility and achievable targets. This strategy empowers traders to leverage their skills in forex markets effectively, fostering growth and significant earning potential.

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Features:

  • Immediate 40% profit share from Phase 2 successes.
  • MicroFX accounts enjoy a 5% profit target.
  • Access to funded accounts with a ceiling of $1,000,000.
  • Profit splits can reach up to 90%.
  • Offers accessible funding options tailored for novices.
  • Leverage is set at 1:100 for all trades.
  • Trading around news events is permitted.
  • Special provision for holding trades overnight and through weekends with the Aggressive account option.
  • Swift and automated process for account setup.
  • Established in 2018, providing swap-free account options.

Pros:

  • Supports both Normal and Aggressive trading methodologies.
  • A uniform leverage of 1:100 across all account types.
  • Potential earnings range from a minimum of 5% to a maximum of 20% on the initial account balance.

Cons:

  • Limitation on carrying trades over the weekend exclusively to Aggressive account models.

Pricing:

  • The pricing model is structured in tiers, reflective of the account balance selected. Entry fees initiate at about $100 for managing a $10,000 balance, escalating to approximately $1,000 for handling a $100,000 balance, catering to a wide spectrum of trader requirements and preferences.

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LuxTradingFirm stands out in the realm of proprietary Trading, offering an unparalleled blend of support and resources for adept traders seeking to elevate their careers. With a one-time fee structure that eschews monthly charges, it positions itself as an affordable choice for serious traders. I've found its provision of three advanced trading platforms TraderEvolution, TradingView, and MetaTrader4 not only facilitates a diverse trading strategy but also ensures a seamless trading experience. Their commitment to empowering traders with real capital, as opposed to mere simulations, underscores their dedication to nurturing genuine trading talent.

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Features:

  • Customized Trading Strategies: Empowers you with tailored trading plans for flexibility in operations.
  • Enhanced Decision Making: Leverages a sophisticated MT4 Indicator for informed trading choices.
  • Expert Guidance: Offers insights from traders boasting over half a century of collective expertise.
  • Up-to-the-Minute Market Insights: Daily market updates and analyses delivered through live broadcasts.
  • Collaborative Trading Environment: Engage in meaningful dialogue about trade ideas with personalized feedback.
  • Community Support: Gain access to an active trading chat room for peer interaction.
  • Achievable Profit Goals: Set a modest profit target of 6% for traders.
  • Generous Loss Tolerance: Allows a maximum loss threshold of up to $400,000.
  • Premier Partnerships: Collaborates with top-tier liquidity providers, including industry giants like Goldman Sachs and Barclays.

Pros:

  • Exclusive Resources for Elite Traders: Features a comprehensive dashboard with daily streams and access to a live trading room.
  • Verifiable Success: Offers a KPMG-verified track record, opening doors to trade with major banks and investment offices.
  • Flexible Timelines: Removes time constraints across all trading stages, promoting a stress-free trading experience.

Cons:

  • Initial Investment Requirement: Commands a premium fee for traders who do not clear the evaluation phase.

Pricing:

  • Trial Offer: A complimentary one-week trial to explore services.
  • Starting Capital: Kick off your evaluation with a $50,000 fund, with the potential to scale up to $10,000,000.
  • Investment: A one-time fee of £299 unlocks your trading journey.

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OneUp Trader stands out as a premier choice among cost-effective prop trading firms, providing unparalleled access to advanced trading strategies and resources. Esteemed for its straightforward approach, it eliminates unexpected costs, offering a transparent path to financial success. After successfully navigating its single-phase evaluation, traders can claim up to 90% of their earnings, enabling a swift transition to Trading with actual funds. My experience with OneUp Trader confirms its exceptional value and efficacy in the trading community.

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Features:

  • Streamlined 1-step Evaluation with achievable goals.
  • Offers a trial period at no cost.
  • Exceptional, round-the-clock Customer Support through Phone, Live Chat, and Email.
  • Free from recurring payments, subscription costs, or concealed charges.
  • A minimum of 15 trading days is required for qualification with funding partners.
  • Profit withdrawals are straightforward and hassle-free.
  • Eliminates the restriction of Daily Drawdown.

Pros:

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  • Transparent pricing with no hidden or data fees.
  • Continuous, 24/7 customer assistance via multiple channels.
  • Immediate and unlimited access to profit withdrawals from the outset.

Cons:

  • Mandatory implementation of a stop-loss order on every trade.

Pricing:

  • Begin with a 7-Day Free Trial.
  • Funded Trading Account starting with $25,000 available from $125 per Month.

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7) FTUK

FTUK stands at the forefront of affordable proprietary trading firms, delivering unparalleled opportunities for traders seeking growth and profitability. Through its unique blend of instant funding options and comprehensive evaluation processes, FTUK ensures that every trader, regardless of their experience level, has the tools and support to excel. This platform not only opens the door to significant capital but also provides enriching educational resources and access to a community of seasoned professionals. These features collectively foster an environment where traders can enhance their strategies, making FTUK a top-tier choice for those aiming to elevate their trading journey.

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Features:

  • Expert mentors and trading coaches are on hand to guide your journey.
  • Round-the-clock email support from trade assistance experts ensures you're never left in the dark.
  • Achieve standout results and you could see your trading capacity expand to as much as $2,880,000.
  • Embraces a wide array of trading tactics, including scalping, day trading, swing trading, and engaging with news events.
  • Leverage options cater to all, offering up to 1:50 for cautious traders and 1:100 for those favoring a bolder approach.
  • Unmatched rapid scaling program that stands out in the marketplace.
  • Freedom to initiate withdrawals from level 2 onwards.
  • Advanced automated systems diligently oversee funded accounts, ensuring smooth operational flow.

Pros:

  • Access to immediate funding, jumpstarting your trading endeavors.
  • Enjoy Trading without the burden of commission or swap fees.
  • Flexibility to hold positions over the weekend and overnight, offering strategic freedom.

Cons:

  • Mandatory initiation via a demo account to acquaint yourself with the platform's dynamics.

Pricing:

  • Entry into FTUK's ecosystem ranges from a one-time fee of $149 to $599, based on the funding level you select, guaranteeing transparency with no concealed charges or recurring costs.

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What is the cheapest prop firm forex?

The most affordable prop firm for forex traders often hinges on low entry barriers and favorable profit-sharing models. Firms like FTMO and My Forex Funds stand out for their competitive fee structures and comprehensive support systems, providing traders with extensive educational resources, robust technology platforms, and a supportive trading community. These features make them accessible yet lucrative options for traders seeking to maximize their potential with minimal upfront investment.

Factors to Consider When Choosing the Cheapest Prop Firm:

When selecting the cheapest prop firm, careful evaluation is crucial to ensure it aligns with your trading style and goals.

Key factors include:

  • Regulatory Compliance: Ensure the firm adheres to financial regulations, safeguarding your investments.
  • Profit Sharing Terms: Look for fair profit splits, allowing you to retain a significant portion of your earnings.
  • Trading Platform and Tools: The firm should offer robust and intuitive trading platforms complemented by advanced analytical tools.
  • Education and Support: Access to educational resources and responsive customer support can enhance your trading expertise.
  • Funding and Withdrawal Options: Flexible and straightforward funding and withdrawal processes are essential for smooth operations.

Choosing wisely could significantly impact your trading journey and financial success.

The Impact of Geographical Location on Choosing a Prop Firm

The geographical location plays a crucial role in selecting a proprietary trading (prop) firm, largely due to regulatory, tax, and market access considerations.

In jurisdictions with stringent financial regulations, prop firms offer structured environments with compliance support, essential for risk management and legal operation.

Taxation policies by country can significantly impact traders' net earnings, making some locations more financially advantageous.

Furthermore, proximity to financial markets may reduce latency for high-frequency Trading, offering a competitive edge. Thus, understanding the interplay of location with regulatory, tax, and market access factors is paramount for traders when choosing a prop firm.

How do the cheapest prop firms integrate and leverage these technologies to stay competitive and offer value to their traders?

The most cost-effective prop firms skillfully combine advanced trading platforms, automated trading tools, and data analytics to provide their traders with competitive advantages. By optimizing operational costs and focusing on scalable technologies, they ensure value without compromising on the technological edge required in today's trading environment.

What ethical considerations arise in the operation of cheap prop firms, especially in terms of transparency, risk disclosure, and the protection of novice traders?

In operating low-cost proprietary trading firms, ethical concerns revolve around ensuring transparency in trading strategies and fee structures, accurately disclosing risks associated with trading activities, and safeguarding novice traders from potential financial harm through comprehensive education and risk management practices.

Conclusion

Navigating the realm of proprietary trading firms reveals a landscape where affordability intersects with quality. Among the plethora of options, the best cheap prop firms distinguish themselves not just by cost but through robust trading platforms, comprehensive support, and flexible funding models that cater to traders' diverse needs and aspirations.

7 Best Cheapest Prop Firms (2024)

FAQs

Which prop firm has the lowest fees? ›

Top Best Cheapest Prop Trading Firms
  • 1) Funded Trading Plus.
  • 2) FTMO.
  • 3) TopStepTrader.
  • 4) Fidelcrest.
  • 5) LuxTradingFirm.
  • 6) OneUp Trader.
  • 7) FTUK.
  • 1) Funded Trading Plus.
Apr 4, 2024

How to pass prop firm challenge fast? ›

Tips for Passing a Prop Firm Trading Challenge
  1. Understand the Rules of Engagement: ...
  2. Master Your Trading Strategy: ...
  3. Risk Management is Non-Negotiable: ...
  4. Leverage Your Analytical Skills: ...
  5. Stay Disciplined and Patient: ...
  6. Continuous Learning is the Key: ...
  7. Embrace Feedback and Adapt: ...
  8. Simulate Real Trading Conditions:
Feb 5, 2024

Which prop firm is better than FTMO? ›

FTMO Alternatives Frequently Asked Questions (FAQs):

Yes, there are many sites offering similar services to FTMO. These include FunderPro, the5ers and many more. If you are looking for an alternative to FTMO, FunderPro is currently rank as the number one on the list of top Forex Prop Firms.

Do prop firms really pay out? ›

Statistics on Average Trader Payouts

Profit Split: The average prop firm will offer a 80-20 profit split once you become a funded trader. TFT, on the other hand, gives up to a 90% split, — even as high as 95% in some promotions — the highest in the industry.

Which prop firm offers instant funding? ›

FTUK is a Global One-Step and Instant Funding Prop Firm. Choose the Right Program For You.

What is the best prop firm for beginners? ›

The most popular prop trading firms and funded programmes
  • Axi Select.
  • FTMO.
  • The Forex Funder.
  • E8 Markets.
  • The 5%ers.
  • Funded Next.
  • Funded Trading Plus.

How many people fail prop firm challenges? ›

Around 10% pass

According to FTMO statistics, only about 10% of traders are able to pass the funded account challenge at any account level. This means approximately 90% of aspiring funded traders fail the evaluation and are unable to gain access to the firm's capital.

What percent of traders pass prop firms? ›

The article from Lux Trading Firm provides slightly different results. According to it, 4% of traders, on average, pass prop firm challenges. But only 1% of traders kept their funded accounts for a reasonable amount of time.

Are there any free prop firm challenges? ›

Free prop firm challenges come in various formats, but they generally share some common elements : Virtual Capital: You'll be provided with a simulated account with a predetermined amount of virtual capital, often ranging from $10,000 to $1 million.

Which prop firm is trusted? ›

Apex Trader Funding is the best futures prop trading firm on this list for a variety of reasons, but most notably because it boasts the highest pass rate for its evaluation program out of all the futures prop firms on this list. It is also by far the most friendly option for beginner futures traders.

What is the oldest prop firm? ›

Longest-Standing Prop Firm

Audacity Capital is the oldest prop firm in the industry. It boasts over ten years of experience, guaranteeing much-needed stability to traders. Traders can be sure it will be around tomorrow and many days after.

What is the best prop firm in the world? ›

Best Prop Firms Available in 2024 - Our Picks:
  • Topstep - Best for Forex traders.
  • The Trading Pit - Best for futures traders.
  • Funding Traders - Highest profit split.
  • Darwinex Zero - Best for experts.
  • SurgeTrader - Best variety of tradable assets.
May 14, 2024

What is the failure rate of FTMO? ›

There is estimated to be a 90% fail rate of traders that take the FTMO challenge. The reason behind this is due to traders chasing the profit target with a time restriction in place.

What are the negatives of prop firms? ›

- Traders in prop firms often have limited control over the firm's capital. They may need to deposit their own money as collateral or risk management. - Additionally, payouts are subject to the firm's rules, which may restrict a trader's access to profits.

What happens if you lose money in a prop firm? ›

Proprietary trading firms often provide evaluation accounts where you prove your trading skills. Usually, you pay a one-time fee to enter this "challenge." If you lose money during this evaluation, you won't owe anything beyond the initial fee.

Which prop firm has zero commission? ›

At the forefront of cost-saving measures is FXIFY, a prop firm that boasts zero commissions on forex trades. The offering helps traders who want to keep overheads to an absolute minimum. The commission-free trading structure is available for all instruments except for stocks CFDs, which incur a rate of 0.35% RT.

Which stock trading platform has the lowest fees? ›

Fidelity: Best Low-Cost Online Broker
  • Account Minimum: $0.
  • Fees: $0 for stock/ETF trades, $0 plus $0.65/contract for options trades.

How much do prop firms charge? ›

How much does it cost to join prop trading firms? This is one of the most common questions beginner prop traders usually ask. Many prop trading firms typically charge a monthly subscription fee of $150 to $25000. It is essential always to compare the fees and the benefits the company offers before joining one.

How to get a free prop firm account? ›

One way to start prop trading without paying a dime is to enter trading contests, where you can compete with other traders and show your skills. These are great opportunities to test your trading strategies, get feedback, and win prizes. Monitor or research different prop firms to see who offers this opportunity.

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