Author: Eduardo Montero
Last Updated on June 5, 2023
Unlike a couple of years ago, there are now a large number of proprietary trading firms on the market. Each of them has its own characteristics, trading rules, profit split schemes and access prices to their funded accounts, so finding the cheapest prop firm is not an easy task.
Moreover, not all prop trading firms are reliable. Some of them will immerse the trader into a never-ending challenge with the sole aim of keeping their access fees instead of testing their strategy and risk control and then letting them manage their capital in a live account and mutually profit from it.
To help you find the cheapest prop firms we have put together this comparison table where we list only the most reliable and reputable prop firms among traders around the world. To make it easy for you to compare them and find the one that best suits your preferences we have included their main features and pricing plans focusing on the access fee of an average account with a funded capital of $50,000.
What are the cheapest prop firms?
We will make a separate comparison between those prop trading firms with a one-off payment for accessing the evaluation process and those with a monthly recurring payment.
Prop firms with one-off payment
| Prop Firm | 50k Balance / Fee | Challenge Steps | Profit Split | Profit Target | Max. Drawdown | Instruments | Leverage | Visit |
|---|---|---|---|---|---|---|---|---|
E8 Track Account |
50k balance for $208 Other account sizes: 25k balance for $138 100k balance for $358 250k balance for $598 |
3 steps |
80% |
8% for Step 1. 5% for Step 2 and Step 3. |
5% Daily Drawdown. 8% Overall Drawdown. You can scale your overall drawdown up to 14% |
Forex, Commodities, Indices, Equities, and Cryptocurrencies. |
FX Majors up to 1:100. FX Exotics up to 1:50. Commodities and Indices up to 1:50. Cryptos up to 1:5. |
|
50k balance for $289 Other account sizes: 100k balance for $489 200k balance for $939 300k balance for $1399 400k balance for $1869 |
2 steps |
80% by default and up to 90% with scaling plan. |
8% (Phase I). 5% ( Phase II). |
5% Maximum Daily Loss. 10% Maximum Loss. |
Forex, Indices, Commodities, Metals and Cryptocurrencies. |
Up to 1:200. |
||
Evaluation Account |
50k balance for $299 Other account sizes: 10k balance for $84 20k balance for $139 100k balance for $499 200k balance for $979 |
2 steps |
Up to 85%. Live Month 1 = 75% Live Month 2 = 80% Live Month 3 and following = 85% |
8% (Phase I). 5% ( Phase II). |
5% Daily Drawdown. 12% Overall Drawdown (starting equity). |
Forex, Indices, Commodities and Metals. |
Up to 1:100. |
|
E8 Account |
50k balance for $338 Other account sizes: 25k balance for $228 100k balance for $588 250k balance for $988 |
2 steps |
80% |
8% for Step 1. 5% for Step 2. |
5% Daily Drawdown. 8% Overall Drawdown. You can scale your overall drawdown up to 14% |
Forex, Commodities, Indices, Equities, and Cryptocurrencies. |
FX Majors up to 1:100. FX Exotics up to 1:50. Commodities and Indices up to 1:50. Cryptos up to 1:5. |
|
50k balance for €345 Other account sizes: 10k balance for €155 25k balance for €250 100k balance for €540 200k balance for €1080 |
2 steps |
In non scaled accounts: 80% for the trader. In scaled accounts: 90% for the trader. |
10% for Step 1 and 2 in Normal Mode. 20% for Step 1 and 10% for Step 2 in Aggressive Mode. |
Normal Mode: 5% Maximum daily loss. 10% Maximum loss. Aggressive Mode: 10% Maximum daily loss. 20% Maximum loss. |
Forex, Indices, Commodities, Cryptocurrencies and Stocks. |
Up to 1:100. |
||
50k balance for $400 Other account sizes: 25k balance for $250 100k balance for $700 250k balance for $1.8k 500k balance for $3.5k 1m balance for $6.5k |
1 step |
75% (or 90% with add-on purchase) |
10% |
5% (Daily loss limit). 8% (Max trailing drawdown). |
Forex, Stocks and Crypto. |
1:10 Forex, 1:5 Stocks and 1:2 Crypto. |
||
Standard Evaluation Account |
50k balance for £459 Other account sizes: $10,000 balance for £119 $20,000 balance for £209 $40,000 balance for £389 $70,000 balance for £659 |
1 step |
50% to 100% |
9% |
5% Absolute Drawdown |
Forex, Commodities and Major Index Stocks. |
Up to 1:10. |
Prop firms with monthly payment
| Prop Firm | 50k Balance / Fee | Challenge Steps | Profit Split | Profit Target | Max. Drawdown | Instruments | Leverage | Visit |
|---|---|---|---|---|---|---|---|---|
50k balance for $132/month Other account sizes: 100k balance for 150k balance for |
2 steps |
100% of the first $5,000 you generate and 90% from that amount. |
6% |
2% Daily loss limit. 4% to 3% Max trailing drawdown (the percentage varies depending on the account you choose). |
Futures Markets: CME Exchange (17 instruments) NYMEX Exchange (4) COMEX Exchange (3) CBOT Exchange (13) |
Up to 1:100 |
||
50k balance for $180/month Other account sizes: 25k balance for $150/month 100k balance for $220/month 150k balance for $305/month |
1 step |
100% of the first $8000. Then 80% of the profit for the first 12 months and 90% thereafter. |
6% |
5% Max trailing drawdown (for 50k account, percentage varies for other accounts). |
Futures Markets: CME Exchange (30 instruments) NYMEX Exchange (7) COMEX Exchange (8) CBOT Exchange (19) |
Up to 1:100 |
As you can see with the above data it is easy to quickly define which is the cheapest prop firm. If we base it only on the price, we could say that the cheapest one is the first in the list and that is because its price is the cheapest but it is also the one with the longest challenge and with more steps. That is why it is good that you compare all the options and choose the one that can be more balanced for you and your characteristics as a trader.
On our website you can also see this comparison of the best no evaluation prop firms with instant funding. The prices are usually higher than those offered by these proprietary trading firms with evaluation but in exchange you can start trading on a funded account from the very first moment.
To save money you can also go to our prop firms discounts section where you can find discount coupons, promo codes and other offers to get the best price on the best prop firms on the market.
Author: Eduardo Montero
I'm Eduardo Montero. Computer scientist by profession and passionate about online trading with more than 10 years of experience in the financial markets. I'm the author of hundreds of articles published in other websites about the online trading industry. Learn more about me here: About the author.