Prop Firm Reviews and Comparison List (2026)
This is JoinProp’s broad directory of proprietary trading firm reviews, covering futures, CFDs, crypto, stocks, options and instant-funding models. JoinProp orders this page by live category membership and editorial quality signals, then checks each firm against the rules that matter most for this topic.
Quick answer: start with The Trading Pit, FTMO, The Concept Trading, Topstep. They sit at the top of this category because they combine stronger overall review signals with a clearer fit for helping traders compare firms by market, rules, fees, payout terms, platforms and restrictions before opening an account.
Showing 1–12 of 115 results
- Liechtenstein-registered (real Impressum, named directors); unregulated; contract language is German
- A flat 80% split, with no add-on to buy and no upsell at checkout
- Static on most CFD sizes; Futures and Stocks trail end-of-day
- The inactivity clock starts the day you BUY, not the day you first trade
- A 1% fee is deducted from every payout; the fee rebate now lands on your 3rd payout
- Flat 80% split on CFD Prime and Futures Prime, with no add-on to buy
- One-time fee, not a subscription (futures market data is billed separately)
- Static drawdown on most CFD account sizes
- Weekend and overnight holding permitted on all CFD accounts
- Wide platform choice: cTrader, MT4/MT5, NinjaTrader, Tradovate, Quantower, Sierra Chart
- Payouts processed within 24 hours on business days
- Minimum payout $100 on CFD accounts
- Resets and extensions available at a discount rather than a full rebuy
- The fee rebate now lands on your 3RD payout, not your 1st (accounts bought from 29 April 2026)
- On 29 April 2026 the max drawdown on the largest CFD accounts switched from static to trailing
- A 1% fee is deducted from every payout
- The inactivity clock starts the day you buy - 21 days without a trade breaches the account
- Hitting the daily drawdown closes the account permanently; it is not a pause
- The firm publishes three different payout requirements across three of its own pages
- The best-known firm in the sector; simulated capital; unregulated
- 2-Step max drawdown is STATIC - a genuine fixed floor
- The 2-Step fee is refunded 100% with your first payout; the 1-Step never is
- The 1-Step carries a Best Day rule that nothing warns you about
- Includes the June 2026 payout report
- 2-Step challenge fee is refunded 100% with your first payout — one of the only genuine full refunds in the industry
- 2-Step max drawdown is STATIC (10%) — the floor never moves
- No consistency rules on the 2-Step beyond the stated objectives
- No withdrawal commission at all — FTMO charges nothing to pay you
- Scaling Plan: +25% capital every 4 months up to $2,000,000 (2-Step), performance-gated and free
- Minimum payout just $20 by bank wire
- No time limit on either challenge; MT4, MT5 and cTrader all supported
- Swing accounts have no news or weekend-holding restrictions
- The 1-Step fee is NON-REFUNDABLE — it looks cheaper than the 2-Step but is permanently the more expensive route to funded
- The 1-Step uses an END-OF-DAY TRAILING drawdown (the 2-Step is static) and a tighter 3% daily loss
- The 1-Step's 50% Best Day Rule silently blocks your pass or payout — it is not a breach, so nothing warns you
- On the 1-Step, every payout RESETS your trailing drawdown back to 90% of initial capital — you lose your entire buffer
- The Scaling Plan is 2-Step ONLY — the 1-Step has none
- There is NO reset product — failing means repurchasing the challenge at full price
- Australian company (ACN 652 938 399); an authorised representative, NOT AFSL licensed itself
- The advertised 90% split is 50% at every level except the very top one
- Static drawdown on every account, and NO daily drawdown at all
- Binding terms allow ONE payout per calendar month; the homepage advertises weekly
- Prices are in Australian dollars; the fee is not refundable
- Static drawdown on every account, with NO daily drawdown at all
- No consistency rule, no minimum trade duration and no time limit
- EAs, HFT, copy trading and scalping are all explicitly permitted
- Overnight and weekend holding allowed, including weekend crypto
- Real Australian company (ACN 652 938 399), operating as an authorised representative
- Entry accounts from AUD 65, with a low-cost route in
- Scaling of +70% to +80% per level on most families
- Payouts by bank transfer, crypto, Revolut or PayPal
- The advertised 90% split is 50% at every level except the very top one
- Binding terms allow ONE payout per calendar month; the homepage advertises weekly
- Profit above the payout matrix figure is not payable, however much you make
- Miss the 30-day invoice window after hitting a target and you forfeit the profit share
- The firm is NOT AFSL licensed - it is an authorised representative of a licensee
- A new clause (12.24) allows a breach for trading deemed not commercially replicable
- US futures firm running the Trading Combine on simulated capital
- The 100%-of-first-$10,000 perk closed to new accounts on 12 January 2026
- Maximum Loss Limit trails on end-of-day balance but breaches intraday on unrealised P&L
- The consistency target does not fail you - it raises what you must earn to withdraw
- Monthly subscription for the Combine
- Flat 90/10 profit split — no paid upgrade and no tier to chase
- No time limit on the Trading Combine, and only 2 minimum trading days
- The Daily Loss Limit is optional in the Combine — hitting it locks you out for the day, it does not fail you
- No monthly subscription once you are funded
- Low 125 USD minimum payout; Aeropay and Wise carry no Topstep fee
- Publishes its own pass rates — disclosure almost no competitor offers
- TopstepX, NinjaTrader and Tradovate all supported
- The 100%-of-first-10,000 USD perk closed to new accounts on 12 January 2026 — grandfathered only
- The Maximum Loss Limit trails on end-of-day balance but breaches intraday on unrealised P&L
- After your first payout the MLL is forced to zero — your remaining balance is your entire loss buffer
- The 50% Consistency Target does not fail you, it silently raises your profit target
- Express Funded accounts are simulated; only 0.71% of funded traders reached a Live account in 2025
- Futures-only prop firm across 6+ asset classes; simulated capital
- There is NO daily drawdown - the best thing about the product
- A $10,000 lifetime ceiling takes your profit, and prior withdrawals count toward it
- Rebuilt as "TradeDay 2.0" - the terms changed with the relaunch
- Unusually transparent about its own numbers
- Split reaches 90% in Funded Live (Quick Pay starts at 50/50 until $4,000 net profit)
- Day One Payouts - withdrawals available from day one of funded trading, no consistency requirement
- One-step evaluation with no time limits
- Specializes in futures trading across 6+ asset classes
- Trailing drawdown freezes at starting balance (trader-friendly)
- Choice of three drawdown types at signup: Intraday TMD, End-of-Day TMD, or Static
- Trade up to 6 simultaneous accounts
- Reset $99 mid-cycle, or free at next monthly subscription renewal
- Strong educational resources and mentorship program
- 4.6/5 Trustpilot rating from 1,354+ reviews (April 2026)
- Futures-only firm - not suitable for forex or stock spot traders
- Weekend holding strictly prohibited
- News trading not allowed
- Single-step evaluation only - no public phased structure
- Minimum 5 trading days required in evaluation
- US futures prop firm (Austin, Texas); unregulated; all funded accounts are simulated
- 100% profit split - there is no split at all on current accounts
- Choose your drawdown: EOD Trail (once daily) or Intraday Trail (real-time on peak equity)
- Evaluations expire in 30 days with NO resets; a funded account closes after 6 payouts
- $500 minimum payout; 5 qualifying days per payout; nothing is refundable
- 100% profit split on all current simulated funded accounts - no split at all
- One-time fee, no rebill and no monthly charge on the funded account
- No consistency rule in the evaluation; no MAE rule; no 5:1 risk-reward rule
- No minimum trading days - you can pass in a single day
- News trading permitted for a normal strategy
- An EOD account option, so you can avoid intraday trailing entirely
- NinjaTrader licence and real-time data included
- Trustpilot 4.3 from over 20,000 reviews, with no consumer alert
- Evaluations now expire after 30 days and there are NO RESETS - a failed eval must be repurchased
- A 50% consistency rule applies on the funded account and gates the payout button
- Only 6 payouts per funded account, then it closes and you must qualify again
- The safety net must now be maintained for the LIFE of the account, not just the first three payouts
- Contract limits are roughly halved when you move to the funded account
- Holding a position through the market close forfeits the account and all balances
- Binding terms name a UAE company (GrowthNext F.Z.E.) as the contracting party; unregulated
- Base 80%; 90% via Scale-Up; 95% is a paid add-on (+25-30% of the fee)
- Up to 3.5% is deducted from EVERY payout - an "80%" split nets about 77%
- Static on Stellar 1-Step, 2-Step and Lite; only Stellar Instant trails
- The 3% max risk rule: a second breach permanently caps you at 1% risk for life
- Static drawdown on Stellar 1-Step, 2-Step and Lite
- The 100% fee refund is standard and free (not an add-on)
- Four platforms: MT4, MT5, cTrader and Match-Trader
- Weekend and overnight holding permitted on CFDs
- Payouts from a $20 minimum, targeted within 24 hours
- No consistency rule on standard CFD accounts
- Scaling to 90% and up to a $4m allocation
- Trustpilot 4.5 from over 73,000 reviews, with no consumer alert
- A processing fee of up to 3.5% is taken from every payout - an 80% split nets about 77%
- The base split is 80%; 95% is a paid add-on at +25-30% of the fee
- The 3% max risk rule: a second breach permanently caps you at 1% risk for the life of the account
- News-window profits count at 40%, but news-window losses count at 100%
- Payouts are capped at $2,000 per request for most traders
- Stellar Instant uses a trailing drawdown and has no fee refund
- US futures prop firm (Wyoming) trading simulated capital; unregulated
- Flat 90/10 split on all sim-funded accounts - no paid upgrade to buy
- Six programmes, so you choose the drawdown model that suits you
- Lock Upon Payout: withdrawing collapses your trailing drawdown to starting balance + $100
- First payout needs 6% profit but the first request is capped at $2,500
- Flat 90/10 split on all sim-funded accounts — no paid upgrade to buy
- Six programmes, so you can pick a drawdown model that suits your style
- Elite Access carries no daily loss limit during the challenge
- Only 1 minimum trading day to pass the Elite Challenge
- No recurring subscription once funded — activation is a one-off
- News trading is explicitly allowed
- Payouts run through Rise, in crypto or by bank transfer
- Lock Upon Payout: withdrawing collapses your trailing drawdown to starting balance + 100 USD
- The first payout needs 6% profit (3,000 USD on a 50K) but the first request is capped at 2,500 USD
- Promotion to a Live account drops your split from 90/10 to 80/20
- The Terms prohibit negative statements on review platforms, on pain of profit forfeiture
- All bots, EAs and automated trading are banned, as is holding a trade under 10 seconds
- Crypto-only funded program from Kraken the exchange — the rebrand of the acquired firm Breakout, run inside Kraken Pro
- 80/20 base split; the 90/10 is a paid upgrade at checkout, not earned
- One-off evaluation fee (no subscription, no reset fee); tight 3–6% drawdowns because it is crypto
- Operated by Payward Oceanic Ltd (BVI), which states it is not regulated — the brand is not a licence
- The contract lets Kraken treat funded accounts as notional and B-booked (simulated internally), despite the “real capital” marketing
- Runs on real Kraken Pro infrastructure - funded trades can reach an actual matching engine
- One-off evaluation fee: no subscription and no reset fee
- Single-phase evaluation with no time limit, no consistency rule and no profit caps
- Low $50 first-payout threshold, with no minimum trading days
- Fast payouts (guaranteed within 24 hours) straight into a Kraken wallet
- Strong parent brand and a seamless crypto off-ramp
- Operated by Payward Oceanic Ltd, a BVI entity that states in its own contract that it is not regulated
- The funded capital is notional and can be B-booked as simulated (hypothetical) at Kraken's sole discretion
- The 90% split is a paid upgrade at checkout, not earned through performance
- Very tight drawdowns (3-6%) on volatile crypto, with commission and overnight funding fees eroding the buffer
- Irish-registered; describes itself in its own terms as an educational platform; does not accept US citizens
- 80% base; 90% is a bought price tier - and can be cut to 70% permanently after a risk flag
- 6% TRAILING drawdown, tested against equity, so floating losses count
- Your first payout deletes your buffer - the floor moves to your initial balance permanently
- Since 2 Feb 2026 a breach forfeits all earned-but-unpaid profit; $1 crypto minimum, weekly
- 1-step evaluation - no multi-phase process
- No monthly fees - one-time evaluation cost only
- No time limit on the evaluation
- Free 7-day trial account ($20K balance), one per trader
- Payout cycle every 7 days, processed within 24 hours
- Very low withdrawal minimums - $1 by crypto, $15 by bank transfer
- 250+ assets: forex, stocks, indices, ETFs, crypto, commodities
- SabioTrade Academy included with the PRO Club bundles
- Proprietary Sabio Traderoom platform only - no MT4, MT5 or cTrader
- 6% max drawdown TRAILS a high-water mark and is measured on equity, so open-trade floats can breach it
- After your first payout the floor becomes your initial balance - your drawdown buffer is gone permanently
- A breach forfeits ALL earned-but-unpaid profit (for accounts bought on or after 2 Feb 2026)
- The 90% split is a price tier, and the firm can cut it to 70% permanently after a risk flag
- 55% consistency rule: one big day RAISES your profit target
- UK-based futures prop firm (Alpha Group) trading CME-group contracts on AlphaTrader/Quantower/WealthCharts; simulated evaluations
- Signature: Alpha Prime — a rare salaried, real-capital London trading-floor path, not just a perpetual simulator
- Trader-friendly end-of-day trailing drawdown that locks at starting balance and doesn’t move after payouts
- One-step Zero, Advanced (flat 90% split, no daily loss limit) & Direct (instant); sizes $25K–$150K; US accepted
- July 2026 caveat: NinjaTrader split + Premium-plan closure and payout-handling episode — factor it in
- Alpha Prime offers a rare salaried, real-capital London trading-floor path
- Trader-friendly EOD trailing drawdown that does not move after payouts
- Advanced pays a flat 90 percent split with no daily loss limit
- Industry-leading 15,000 dollar maximum per payout request on Advanced
- US traders accepted; strong historical reputation and payout record
- July 2026 NinjaTrader split, Premium-plan closure and payout-handling backlash
- Platform migration to AlphaTrader is ongoing, so confirm what you are buying
- Consistency rules vary by plan (40 percent Zero, 20 percent Direct)
- You contract with FT US Inc (Miami); the terms name an unnamed third party as the funder
- Base 80% (2-Step) or 90% (1-Step, Instant); 100% is a paid add-on
- Static on 2-Step PRO6 and PRO10; 1-Step PRO trails and never locks
- The 2% cap is per aggregated trade idea, not per trade - an instant hard breach
- $50 crypto / $200 bank minimum; 21-day cycle; fee refunded on your 2nd payout
- No time limit on any evaluation phase
- Static drawdown on both 2-Step routes (PRO6 and PRO10)
- 90% base split on 1-Step PRO and Instant Funded
- News trading, weekend and overnight holding permitted on the PRO accounts
- VPNs, VPSs and proxies are explicitly allowed
- Flat, published commission: $3 per lot round turn on the PRO products
- Crypto payouts from a $50 minimum (USDT), or bank transfer via Rise
- Evaluation resets available at a discount rather than a full rebuy
- The 2% cap is per aggregated trade idea, not per trade - scale-ins share one budget, and breaching it is an instant hard breach
- 1-Step PRO's 10% max drawdown trails from your highest balance and never locks
- The 100% profit split is a paid add-on (+30% of the fee); 90% costs +15%
- The fee refund lands on your SECOND payout, though the homepage still advertises the first
- Contracting entity is FT US Inc (Miami Beach); the terms say it merely recommends you to an unnamed third-party funder
- No regulator anywhere; governing law is the UAE despite a Florida entity
This page is a comparison hub, not a guarantee that every firm is right for every trader. The best choice depends on your country, market, account size, platform and tolerance for rules such as trailing drawdown, payout consistency and minimum trading days.
The ranked list
Firms are shown in the same order as JoinProp’s live category ranking. Use the list as a shortlist, then read the individual reviews before opening an account.
1. The Trading Pit. Review this firm first if you want a category-relevant option, then check the firm’s own review for drawdown type, payout rules, fees, platform access and trader restrictions before buying.
2. FTMO. Review this firm first if you want a category-relevant option, then check the firm’s own review for drawdown type, payout rules, fees, platform access and trader restrictions before buying.
3. The Concept Trading. Review this firm first if you want a category-relevant option, then check the firm’s own review for drawdown type, payout rules, fees, platform access and trader restrictions before buying.
4. Topstep. Review this firm first if you want a category-relevant option, then check the firm’s own review for drawdown type, payout rules, fees, platform access and trader restrictions before buying.
5. TradeDay. Review this firm first if you want a category-relevant option, then check the firm’s own review for drawdown type, payout rules, fees, platform access and trader restrictions before buying.
6. Apex Trader Funding. Review this firm first if you want a category-relevant option, then check the firm’s own review for drawdown type, payout rules, fees, platform access and trader restrictions before buying.
7. Top One Futures. Review this firm first if you want a category-relevant option, then check the firm’s own review for drawdown type, payout rules, fees, platform access and trader restrictions before buying.
8. FundedNext. Review this firm first if you want a category-relevant option, then check the firm’s own review for drawdown type, payout rules, fees, platform access and trader restrictions before buying.
Comparison table
| Firm | Why it belongs here | Main check before buying |
|---|---|---|
| The Trading Pit | helping traders compare firms by market | Check the live review before buying |
| FTMO | helping traders compare firms by market | Check the live review before buying |
| The Concept Trading | helping traders compare firms by market | Check the live review before buying |
| Topstep | helping traders compare firms by market | Check the live review before buying |
| TradeDay | helping traders compare firms by market | Check the live review before buying |
| Apex Trader Funding | helping traders compare firms by market | Check the live review before buying |
How this list was built
JoinProp reviews firms across rules, payouts, transparency, platform access, support, costs, restrictions and track record. For this category, we also check helping traders compare firms by market, rules, fees, payout terms, platforms and restrictions before opening an account. No firm can buy its position in the editorial ranking.
FAQ
What is the best firm in this category? The highest-ranked firms above are the best starting points, but the right answer depends on your market, country, platform and risk style.
Are all firms on this page available to every trader? No. Availability can depend on country, platform, asset class and current terms. Always check the review and the firm’s current checkout before paying.
Does JoinProp operate any of these firms? No. JoinProp is an independent comparison and review platform. The individual firm handles evaluations, accounts and payouts.