Free Prop Firm Challenge: Launch Your Trading Career Without Upfront Costs (2024)

FAQs

Is there a free prop firm challenge? ›

Enter the free prop firm challenge, a revolutionary concept that allows beginners to showcase their skills and potentially land a funded account with a prop firm, all without risking their own money.

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.

Overview. The 5%ers is one of the most well-known and reputable prop firms. Their "Mini" challenge requires an upfront payment of $249 to get the chance to prove you can trade profitably. If you pass, you will be awarded a funded account with up to $10,000 in trading capital.

FTUK is a reputable prop firm with instant funding accounts, which attracts seasoned traders who want to access large trading capital without a lengthy evaluation process. The funding range is from 14k to 5 million USD with a profit share of 80% and maximum leverage of 1:100.

If you are able to repeatedly pass our Free Trial, then there are chances you can succeed in the full FTMO Challenge as well. This should encourage you to start your journey to become one of our FTMO Traders. Please note that Free Trials don't give you any eligibility to automatically secure your FTMO Account.

Demonstrate Your Ability:

Showcase your trading skills, risk management prowess, and consistency whether you're participating in trading challenges, competitions, or partnership searches. Your chances of becoming eligible for funded accounts will increase as a result.

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.

If so, then you may have heard about the prop firm challenge. This is a popular way for traders to prove their skills and potentially secure funding from a prop firm. However, passing this challenge can be quite daunting and requires a lot of hard work and dedication.

How much does a 100k prop firm challenge cost? ›

This challenge typically costs $500. First of all, as you all know the actual tradable capital is max drawdown times the capital ($100k * 10% = $10k, or is it?). If you're algorithmic trader you know that the floating (equity) intra-day drawdown always exceeds the max drawdown of closed trades.

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.

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.

FTMO just banned US citizens: USA update – January 2024: Since the establishment of our company, our goal has been to provide top-quality services for our clients. Unfortunately, at present, we are not able to do that in the United States due to specific conditions in the market segment there.

FTMO is a prop firm that provides funding and training to traders worldwide. It was founded in 2015 by two experienced traders, Otakar Suffner and Marek Chrastina. The firm aims to help traders achieve financial independence by providing them with the necessary tools, guidance, and capital to trade successfully.

For example, probably the most popular prop firm, FTMO, offers a free extension of the evaluation period and a retry free of charge if your account is in profit.

Join Free Funded Trading Challenges

These challenges typically involve trading simulated or live accounts with virtual funds provided by the platform. Traders who meet certain performance criteria during the challenge period may be offered funded accounts with real capital upon successful completion.

With the Prop Firm challenges, it's not just about failing or winning. You must be profitable and fulfill certain trading objectives which makes it even harder. Less than 1% of traders who attempt the challenge pass and get funded.