Why This Ranking Exists
Prop trading has exploded. There are now dozens of firms promising funded accounts, 90% profit splits, and a path to trading for a living. Most of them are garbage. Some have already collapsed and taken traders' money with them.
This guide exists because picking the wrong prop firm is expensive. You pay the challenge fee, you pass, you get funded — and then the firm ghosts your withdrawal requests or shuts down six months later. We have watched it happen with MyForexFunds, TrueForexFunds, MyFundedFX, and others.
Here is how we ranked these firms: We looked at four things. First, payout reliability — does the firm actually pay funded traders, consistently, without drama? Second, rule fairness — are the trading rules realistic for a competent trader, or are they designed to make you fail? Third, value for money — how does the challenge fee compare to account size and earning potential? Fourth, track record — how long has the firm been operating and what is their reputation across the community?
We only included firms that have a genuine track record. No new firms with six months of hype and zero data. The four firms on this list are the ones we would actually recommend to a friend.
Some links on this page are affiliate links. If you sign up through our link, we may earn a commission at no extra cost to you. This does not affect our rankings — we only recommend firms we genuinely rate.
Quick Comparison Table
Here is the at-a-glance ranking. Full reviews with all the details are below.
| Rank | Firm | Best For | Profit Split | Challenge Price | Rating |
|---|---|---|---|---|---|
| #1 | FTMO Gold Standard | Reliability | 80–90% | $155 (10k) | ★★★★★ |
| #2 | FundedNext | Value + News Trading | 80–95% | $99 (10k) | ★★★★★ |
| #3 | The5%ers | Forex Scaling | 50–100% | $265 (Hyper) | ★★★★★ |
| #4 | TopStep | Futures Traders | 90% | $99/mo (50k) | ★★★★★ |
All four are legitimate operations with verified payouts. The differences come down to your trading style, instruments, and risk tolerance when picking a firm.
Firm Reviews: Full Breakdown
FTMO has been operating since 2015 out of Prague and has paid out over $400 million to funded traders globally. That number is not marketing fluff — it is backed by verified payout screenshots, community data, and a decade of consistent operation. In an industry littered with firms that appeared and disappeared in 18 months, FTMO's longevity alone earns them the top spot.
The two-phase challenge structure is strict but transparent. You know exactly what the rules are going in, and they do not change them on you mid-account. The FTMO platform itself is one of the best in the industry — traders get a detailed statistics dashboard showing journal metrics, drawdown history, average risk-to-reward, and trading consistency scores. For traders who want to take prop trading seriously as a business, this data visibility matters.
Profit split starts at 80% and scales up to 90% as your account grows. Payouts happen on demand after the first 30 days, with no caps on withdrawal frequency. Customer support is responsive and they have a reputation for being fair when traders have genuine questions about rule interpretations.
Key Trading Rules
Challenge Pricing
$10,000 account: $155 | $25,000: $345 | $50,000: $540 | $100,000: $1,080
Challenge fees are refunded with your first funded payout. So the real cost is zero if you pass and trade successfully — you are only paying for access to the evaluation.
- Best reputation in the industry, period
- $400M+ verified payouts over 10 years
- Excellent stats dashboard for traders
- Strong, responsive customer support
- Fee refunded on first payout
- Scales to 90% profit split
- No news trading allowed
- Consistency rule can trip up traders
- Higher price vs. FundedNext for same account size
- 30-day time limit per phase (can pressure traders)
Who FTMO is for: Serious forex, indices, and commodity CFD traders who run a disciplined strategy and want to work with the most trusted name in the industry. If prestige and peace of mind matter to you — knowing your payout will actually arrive — FTMO is the answer.
https://trader.ftmo.com/?affiliates=pzMbRYyiNVcFiDnNRgsKAffiliate link — we may earn a commission if you sign up.
FundedNext launched in 2022 and grew fast — not just because of marketing, but because they genuinely addressed gaps that FTMO left open. Lower prices. More account types. News trading allowed on certain plans. And a 15% profit share during the evaluation phase itself, which means you earn money while you prove your skills.
Three account types give traders flexibility that FTMO's one-size approach does not offer. The Challenge account is the standard two-phase model — the most affordable entry point. The Express account is a one-phase model with a higher target but faster path to funding, and news trading is fully permitted. The Stellar account offers the highest profit split — up to 95% — and is designed for traders who want maximum earnings on a funded account.
The main knock on FundedNext is simply age. They have only been around since 2022. That is long enough to build a solid reputation — their payout track record is clean and community sentiment is positive — but not enough to compare with a decade of FTMO operation. At the current rate, FundedNext is building toward being a co-equal option with FTMO for forex traders. They are not quite there yet, but they are on the right trajectory.
Key Trading Rules (Challenge Account)
Account Type Comparison
Challenge ($99 for $10k): Two-phase evaluation, standard rules, best for disciplined swing traders and day traders who avoid high-impact news.
Express ($199 for $10k): One-phase, 25% target, news trading allowed, 80% split on funded. Best for active traders who need fewer restrictions.
Stellar ($89 for $10k): Scaled up to 95% profit split, HFT and news allowed on some tiers. Best for traders optimizing earnings on an established funded account.
- Lower challenge fees vs. FTMO ($99 vs. $155)
- News trading allowed on Express and Stellar
- 15% profit share during evaluation
- Up to 95% profit split — highest of any major firm
- Multiple account types for different trading styles
- Fast-growing, community positive reputation
- Founded in 2022 — less historical track record
- Fewer data points on long-term payout consistency
- Support can be slower than FTMO during peak times
Who FundedNext is for: Traders who want competitive pricing and more flexible rules, particularly news traders who would be disqualified at FTMO. Also the best choice if you want the highest possible profit split once funded.
https://fundednext.com/?fpr=igor38Affiliate link — we may earn a commission if you sign up.
The5%ers is the odd one out on this list — in a good way. While every other firm is playing variations of the same two-phase challenge model, The5%ers built something fundamentally different: a scaling program that starts you with a small funded account and grows it over time based on performance, rather than a single challenge you pass or fail.
Their Hyper plan offers instant funding with no challenge phase at all. You pay upfront, get funded immediately, and trade with real consequences from day one. The trade-off is the fee is higher (from $265 for the smallest account) and the profit split starts at just 50%. But with each scaling milestone — hit 10% profit with a max 2% drawdown and you unlock the next level — your allocation and split both grow. The path goes from $5,000 up to $4,000,000 in managed capital, with profit splits eventually reaching 100%.
Their other plans (Bootcamp and Growth) have more traditional evaluation structures with tiered profit targets. There is no time limit on the Hyper plan, which removes the psychological pressure that catches many traders in a mistake during a crunch period at the end of a FTMO month.
The5%ers only supports forex pairs. If you trade indices, commodities, or futures, you need a different firm.
Key Trading Rules (Hyper Plan)
Scaling Path
Hyper starting size: $5,000 → $10,000 → $20,000 → $40,000 → $60,000 → $80,000 → $100,000 → $200,000 → $400,000 → $2,000,000 → $4,000,000. Each step requires hitting 10% profit target with no more than a 2% max drawdown within any single trade.
- Instant funding on Hyper — no challenge to pass
- No time limit — trade at your own pace
- Scale from $5k to $4M with one firm
- Profit split can reach 100%
- Tight max drawdown enforces good habits
- Forex only — no indices, commodities, or futures
- Higher entry fee vs. competitors for same size
- Starts at 50% split — lower than FTMO or FundedNext
- 4% max drawdown is very tight for volatile periods
Who The5%ers is for: Disciplined forex traders with a long-term view who want to scale capital over time rather than chase a single payout. If you have a low-drawdown strategy and want a clear path from small to very large account, the scaling model is compelling.
https://www.the5ers.com/?afmc=17oxAffiliate link — we may earn a commission if you sign up.
TopStep occupies a completely separate category from the other three firms: they only offer futures trading. CME markets — ES (S&P 500 E-mini), NQ (Nasdaq), CL (crude oil), GC (gold), ZB (bonds), and others. If you trade forex, TopStep is not for you. If you trade futures, TopStep is almost certainly the best option available.
Founded in 2012, TopStep has over a decade of operating history. They have paid out hundreds of millions to funded traders and are one of the most respected names in futures prop trading. The 90% profit split is generous for the industry, and the subscription model ($99/month for a $50k account) means you keep paying monthly until you get funded, then earn immediately.
The evaluation is called the "Trading Combine." You trade a simulated futures account and need to hit a profit target while staying within daily and overall loss limits. Pass, and you get a funded Express Funded Account with real profits. The rules are well-defined and the community of funded traders is substantial and active.
TopStep is exclusively for CME futures markets. They do not offer forex, stocks, or crypto. If you are not a futures trader, choose FTMO or FundedNext instead.
Key Trading Rules
- Best-in-class for futures — established since 2012
- 90% profit split — among highest for futures
- Access to all major CME futures markets
- Large, active community of funded traders
- Clear, fair evaluation rules
- Futures ONLY — no forex, indices, crypto
- Subscription model — ongoing monthly cost if you fail
- Costs add up quickly if evaluation takes months
Who TopStep is for: Futures traders, full stop. If you trade ES, NQ, CL, or any CME product, TopStep is the clear best choice. The 90% split, decade-long track record, and fair rules make it the gold standard for futures prop specifically.
https://www.topstep.com/Affiliate link — we may earn a commission if you sign up.
Firms to Avoid in 2026
Part of picking the right prop firm is knowing which ones to stay far away from. The following firms are closed, shut down by regulators, or have a history of not paying traders. Do not put your challenge fee into any of them, regardless of what you find on social media.
Prop firms that fail tend to share warning signs: aggressive referral programs, rapidly scaling social media presence, increasingly generous offers (high splits, low fees, relaxed rules), and delayed or inconsistent withdrawal processing. If a firm's offer looks dramatically better than FTMO, ask why.
How to Choose the Right Prop Firm
The four firms on this list are all legitimate. Choosing between them comes down to what and how you trade. Use this decision framework:
A Note on Running Multiple Accounts
Many professional traders hold funded accounts at more than one firm simultaneously. This is permitted by all four firms listed here, and it is a smart risk management strategy — you diversify your income across multiple firms rather than depending on any single one staying solvent and paying consistently.
A common approach is to hold one FTMO account for stability and one FundedNext account for the higher split and news trading flexibility. If you trade futures and forex, pairing a TopStep account with an FTMO or FundedNext account covers both markets.
If you are managing funded accounts at multiple firms, you need a centralized place to track your performance, drawdown, and payouts. TSB's Trading Journal and Prop Firm Calculator are built specifically for this.
Frequently Asked Questions
FundedNext Stellar offers up to 95% profit split on funded accounts, making them the highest fixed split of any major firm. The5%ers can technically reach 100% on their scaling program, but this requires growing through multiple milestones over time — it is not a day-one rate.
FTMO offers 80–90%, TopStep offers 90% on futures. For pure payout percentage, FundedNext and The5%ers (if you scale) are at the top. But a higher split is only meaningful if the firm reliably pays — which is why track record matters more than split alone.
Yes — if you are a consistently profitable trader with a tested strategy. Challenge fees range from $99 to $1,080 depending on account size and firm. The math works as follows: a $155 FTMO challenge for a $10,000 account means you need to generate roughly $1,550 in profit (at 80% split on a 10% account target) to recoup the fee. On a $100,000 FTMO account, your first payout at 10% profit and 80% split is $8,000 against a $1,080 fee.
The risk is simple: if you fail the challenge, you lose the fee. Most firms offer a free retry or discounted retry if you come close, but the base cost is a real loss. This is why we recommend only attempting a challenge once you have at least 3 months of demo trading data showing consistent profitability with the same rules you will face in the challenge.
Yes, and many professional traders do. FTMO, FundedNext, The5%ers, and TopStep all permit you to hold funded accounts at other firms simultaneously. There is no industry-wide rule against it.
The main thing to watch is each firm's own internal policy on multiple accounts. FTMO, for example, allows you to hold multiple FTMO accounts, but has a maximum total allocated capital limit. Read the specific terms for each firm you work with.
From a business perspective, diversifying across at least two firms is smart risk management. If one firm has payout delays, gets acquired, or faces regulatory issues, your income is not completely cut off.
MyFundedFX shut down in February 2026. The firm stopped processing withdrawals and closed operations, leaving many funded traders with unpaid account balances. There was no advance warning provided to traders.
MyFundedFX had been one of the more popular mid-tier prop firms and had a reasonably positive reputation for a time. Their closure is a reminder that size and popularity do not equal longevity in this industry. It is why we only recommend firms with a multi-year track record of consistent payouts.
It depends heavily on the firm and your trading pace. FTMO requires a minimum of 4 trading days per phase, so the absolute fastest anyone can complete both phases is 8 trading days — roughly 10 calendar days. In practice, most traders take 2 to 6 weeks to complete both phases while trading consistently.
FundedNext Express is a single-phase evaluation, so the process is faster in theory — though the 25% target is higher. The5%ers Hyper offers instant funding with no evaluation phase — you pay, you are funded immediately, and you start trading with real money the same day.
After passing, firms typically verify your account and issue funded access within 1-5 business days.
Rarely, and with the firms on this list — not at all. FTMO offers some crypto CFDs as part of their instrument list, but crypto availability is limited and subject to change. FundedNext and The5%ers focus primarily on forex pairs. TopStep is futures only, with no crypto instruments.
If crypto is your primary instrument, dedicated crypto prop firms exist — but they are a much riskier category with significantly less regulatory oversight and shorter track records. We do not currently recommend any crypto-focused prop firms.