Searching for a list of prop firms can lead you in two completely different directions. You might find proprietary trading companies such as FTMO that offer funded trading challenges, or traditional Wall Street firms like Jane Street that trade with professional teams and institutional capital.
While both fall under the term “prop firm,” they serve very different purposes. If your goal is to pass a trading challenge and access funded capital, knowing the difference matters.
This guide gives you a practical list of prop firms for 2026, covering different markets, challenge models, costs, rules, and key factors to consider before choosing where to trade.
What Is a Prop Firm?
A proprietary trading firm (“prop firm”) gives a trader capital to trade with in exchange for a share of the profits, instead of the trader risking their own money. In the retail space, traders usually pay a one-time fee to attempt an “evaluation” or “challenge.” Pass it, and the firm gives you a funded account, usually keeping 70–90% of profits for you and taking a smaller cut for itself.
What are the Different Kinds of “Prop Firm”
This is the part almost every list skips, and it’s the reason “list of prop firms” returns such a mixed bag of results.
| Funded-trader challenge firms | Traditional institutional prop firms | |
|---|---|---|
| Examples | FTMO, FundedNext, The5ers, E8 Markets | Jane Street, Optiver, DRW, Jump Trading, Citadel Securities |
| Who can join | Anyone who pays for a challenge | Hired employees, usually after interviews/assessments |
| Capital source | Firm allocates a simulated or B-book account | Firm’s actual balance sheet |
| Entry cost | $30–$1,000+ challenge fee | None, it’s a job |
| Best for | Independent retail traders working remotely | People pursuing a trading career at a bank/quant fund |
If you’re a retail trader looking to get funded without applying for a job, you want the first category. That’s the focus of the rest of this guide, with the institutional list included further down for completeness.
Full List of Funded-Trader Prop Firms
These firms sell an evaluation, then fund traders who pass it. Ratings below reflect general market reputation and review volume as of 2026, not an official ranking.
Forex-Focused Prop Firms
| Firm | HQ | Max Funding | Profit Split | Platforms |
|---|---|---|---|---|
| FTMO | Prague, Czechia | $200K+ (scalable higher) | 80–90% | MT4, MT5, cTrader, DXtrade |
| FundedNext | Dubai, UAE | Up to $4M scaled | Up to 95% | MT4, MT5, DXtrade |
| The5ers | UK | Up to $4M scaled | From 50%, scaling up | MT4, MT5 |
| Alpha Capital Group | UK | $400K | Up to 90% | MT4, MT5 |
| FundingPips | Dubai, UAE | $400K | Up to 90% | MT4, MT5 |
| BrightFunded | Dubai, UAE | $400K | Up to 90% | MT5, cTrader, DXtrade |
| E8 Markets | USA | $1.75M | Up to 80% | MT4, MT5, cTrader |
| Aquafunded | Dubai, UAE | $400K | Up to 90% | MT4, MT5 |
| Goat Funded Trader | Hong Kong | $800K | 80–100% | MT4, MT5 |
| Blue Guardian | Dubai, UAE | $400K | Up to 90% | MT4, MT5 |
| Hola Prime | Hong Kong | $500K | Up to 90% | MT4, MT5, cTrader |
| Funded Trading Plus | UK | $400K | Up to 90% | MT4, MT5 |
| DNA Funded | USA | Up to $600K | 80–90% | MT4, MT5 |
| Fintokei | — | Varies | Up to 90% | MT4, MT5 |
| City Traders Imperium | UK | Varies | Up to 90% | MT4, MT5 |
| Lark Funding | — | Varies | Up to 90% | MT4, MT5 |
Futures Prop Firms
| Firm | Notes |
|---|---|
| Apex Trader Funding | One of the largest futures evaluation providers, well known for frequent discount promotions |
| TopStep | Long-running futures firm, CME-listed contracts, trailing drawdown model |
| Lucid Trading | Fast-growing futures firm with strong 2026 review scores |
| Tradeify | Futures evaluations with multiple account types |
| FundedNext Futures | Futures arm of FundedNext, end-of-day trailing drawdown |
| MyFundedFutures | Futures-only firm with an instant funding option |
Crypto Prop Firms
| Firm | Notes |
|---|---|
| FundedNext Crypto | Crypto challenge track alongside the main forex program |
| Crypto Fund Trader | Switzerland-based, crypto-focused evaluation firm |
| Velotrade | Multi-asset firm with crypto and 24/7 market access, static drawdown |
| Apex Crypto / BluFx Crypto / HF Crypto | Smaller crypto-specific evaluation programs |
Multi-Asset / Newer Entrants
Maven Trading (futures-focused but often grouped with forex firms), Moneta Funded, FundedElite, Atmos Funded, Audacity Capital, For Traders, Instant Funding, The Trading Pit, and WSFunded all launched or gained traction within the last 1–3 years and are worth researching individually before committing a challenge fee.
How Prop Firm Challenges Actually Work
Almost every retail prop firm challenge follows one of three structures:
1-step evaluation: hit one profit target while respecting drawdown rules, then get funded. Fastest route, usually stricter drawdown limits.
2-step evaluation: a first phase with a higher profit target, then a second “verification” phase with a lower target. This is still the industry standard and tends to have looser rules than 1-step programs.
Instant funding: skip the evaluation and pay more upfront for immediate access to a funded account, often with a lower initial profit split until you prove consistency.
Whichever structure you pick, you’ll run into the same handful of rules everywhere:
- Daily drawdown – the maximum your account balance can drop in a single day, commonly 4–5%.
- Maximum overall drawdown – the total loss allowed before the account is breached, commonly 8–12%.
- Minimum trading days – a floor on how many days you must trade, usually 3–10, to stop people from gambling one lucky session.
- Consistency rule – some firms cap how much of your total profit can come from a single day, to discourage reckless one-off trades.
- News trading restrictions – many firms restrict trading around high-impact news during the evaluation, then loosen this once funded.
How to Choose a Prop Firm
Don’t pick based on the biggest discount code. Work through this instead:
- Payout track record: search the firm name plus “payout” or “withdrawal” and see if real traders are posting proof, not just marketing screenshots.
- Drawdown type: static drawdown (fixed from your starting balance) is generally more forgiving than trailing drawdown (moves up with your equity).
- Profit split and scaling plan: a high headline split means little if the firm never lets you scale past your first account size.
- Platform support: confirm your platform (MT5, cTrader, TradeLocker, Tradovate, NinjaTrader, TradingView) and EA policy before you pay.
- Time in business: firms with 3+ years and consistent payouts carry far less risk than a firm that launched two months ago with an aggressive discount campaign.
- Jurisdiction and regulation: most retail prop firms are not regulated brokers; that’s normal for this industry, but it means reputation and community feedback matter more than a license number.
- Rule clarity: if the terms and conditions are vague about what counts as a “violation,” that vagueness usually favors the firm at your expense.
How to Avoid a Bad Prop Firm
- Guarantees of “no risk of failure” with no rules explained
- No visible payout history or verified trader proof anywhere online
- Aggressive, ever-changing discount codes that suggest the firm is chasing new sign-up fees rather than funding traders
- Vague or shifting rule enforcement reported across multiple independent reviews
- No way to reach a human for support before you buy a challenge
Should You Trade the Challenge Yourself, or Get Help Passing It?
Passing a prop firm challenge on your own is entirely doable, but it takes real screen time: sticking to a drawdown limit under pressure, hitting a profit target inside a time window, and not letting one bad day wipe out weeks of progress. A lot of traders fail their first attempt not because they don’t understand the markets, but because evaluation-specific risk rules are unforgiving of normal trading mistakes.
That’s the gap a challenge-passing service like We Pass Prop Firm exists to close. Instead of learning the rules the hard way on your own money, an experienced desk handles the evaluation phase for you under strict drawdown discipline, and you take over once the account is funded. It’s worth knowing upfront that using a third party to complete an evaluation sits outside most prop firms‘ terms of service, so weigh that against the time and stress it saves before deciding which route fits you.
The list above covers most of what’s active in the funded-trader space in 2026, but a list alone won’t get you a payout; passing the evaluation will. If you’d rather skip the trial-and-error of learning drawdown discipline on your own dime, get your prop firm challenge handled by an experienced desk at We Pass Prop Firm and start trading on a funded account instead of chasing one.
FAQ
What is the easiest prop firm to pass?
No firm is universally “easiest.” It depends on your trading style. 1-step evaluations are faster to pass but usually have tighter drawdown limits, while 2-step evaluations give more room to breathe but take longer.
How much does a prop firm challenge cost?
Fees typically range from $30–$40 for small accounts up to $1,000+ for accounts above $200K, scaling with the funding amount you’re applying for.
Do prop firms give you real money?
Most retail prop firms fund traders through simulated or internally hedged accounts rather than handing over literal cash, but verified traders are paid real profit withdrawals once they clear payout requirements.
Is prop trading legal?
Yes. Prop trading firms operate as private businesses paying independent contractors or traders based on performance; it’s a different legal structure from managing client investment funds, which is why most operate without a broker-dealer license.
What’s the difference between a 1-step and 2-step challenge?
A 1-step challenge has one evaluation phase before funding. A 2-step challenge adds a second “verification” phase with a lower profit target, generally with more forgiving rules overall.
What happens if I breach the drawdown rule?
The account is typically closed immediately and the challenge is failed, though many firms offer a discounted retry.
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