FTUK Logo

Prop Firm Review – FTUK

FTUK Logo

Coupon Code Alert: Proptradinonline

Best suited for: This is a great option for UK traders. They offer great prices with a fast-scaling plan. The time limits are also very fair, which would suit traders who don’t like to be rushed.

Overall Ratings

  • Models on offer: 9/10
  • Cost: 9/10
  • Rule Fairness: 8/10
  • Support: 8/10
  • Profitability: 9/10
  • Scaling System: 9/10
  • Overall: 8.3/10

Overview

FTUK is an established London based prop firm offering up to £4.4 million of funding to traders. They have an extremely fast scaling system and offer a single-phase evaluation or instant funding accounts. They have regular promotions so there is always a great deal available.

Prop Firm - Pros

  • Multiple Currencies – This prop firm offers multiple currencies for your base currency. This is great for traders to be able to trade the currency of their own country. 
  • Super Fast Scaling – FTUK will double your account size at every 10% profit, this is among the best in the industry. 
  • UK Based – This prop firm in based in the UK which holds companies to stricter regulations than most other countries. 
  • Huge Max Funding – FTUK offer up to £4.4 million in funding, reachable in just 8 steps!
  • Regular Promotions – It appears that this prop firm has at least one promotion on every month, such as 1 free retake or xx% off. 
  • Long Time Limits – In the low-risk plan you are given a massive 180 days in which to complete the single-phase challenge. This should be achievable for most traders. 

Prop Firm - Cons

  • 5% Absolute Drawdown – This drawdown means traders must be extra cautious and implement a solid risk management plan.
  • Possible Account Termination If Inconsistent – FTUK has a clause which states if a trader does not demonstrate good risk management, they may be removed from the firm. This shouldn’t affect responsible traders, however. 

Key Details

What Funding Models do FTUK offer?

FTUK offers two types of funding models – Instant funding or Single-phase evaluation. Within both of these they offer low-risk or aggressive, which has different time limits and profit target rules. 

The aggressive accounts have a 25% profit target and 90 days to complete the challenge. It allows traders to use up to 100:1 leverage. No stop loss is required with this challenge.

The low-risk accounts have a 10% profit target and 180 days to complete the challenge. It allows traders up to 50:1 leverage. A stop loss must be placed with every trade, with a maximum risk of 1.5%.

The instant funding accounts allow traders to earn from the first phase of the challenge, with profits becoming withdrawable after reaching the initial profit target.

FTUK Rules and Restrictions

FTUK allows all trading styles but puts an emphasis on keeping good risk management. Some of the rules include: 

  • Holding Trades – Traders are allowed to hold trades overnight and over the weekend.
  • Stop Loss – A stop loss is required on all low-risk programs and must be under 1.5% of the total capital on the account. No stop loss is required on the aggressive accounts.
  • News Trading – FTUK allow news trading.
  • EA’s – Expert advisers are allowed providing they don’t use martingale, hedging or other arbitrage tactics.
  • Minimum Trading Days – There are no minimum trading days for this prop firm.

FTUK Profit Sharing and Scaling

FTUK offers a fast and efficient scaling plan in which your capital is doubled at every 10% profit. As you progress through the stages, your share of the profits also increases from 50/50 up to 80/20. 

In order to cross from step 7 to step 8 an extra payment is required when signing up for the challenge. 

Cost Analysis

Prices start from £119 for a £10,000 evaluation account. For the £10,000 instant funding account the price is £150. 

The prices are in line with other prop firms, especially considering it is a single-phase challenge which more traders should be able to pass. Don’t forget to keep an eye on promotions and discount codes as well. 

FTUK Pricing

Cost
Balance Instant Funding Evaluation
£10,000 £150 £119
£30,000 £299 £410
£40,000 £349 £550
£70,000 £449 £950

FTUK also offer a number of addons in order to improve your experience. These include:

  • Level 8 funding. This adds another level to scale up to £4.4m. (+10% fee)
  • Double max trading days. This doubles the max time limit for the challenge. (+15% fee)
  • Joining fee refund. This allows you to claim back the joining fee after reaching the first profit target. (+25% fee)
  • Evaluation retake. This provides one free retake if you should fail the challenge. (+50% fee)

Conclusion

In conclusion, this is a great prop firm with huge earning potential for experienced and risk aware traders. It offers some of the highest capital allocation in the industry with fair rules. 

I would advise against this firm for newer, less experienced traders or those who perform “gambling” trading as the drawdown and consistency rules will not align with those traders. 

Frequently Asked Questions

Does FTUK allow copy trading or EAs?

Yes, FTUK allows EAs as long as they don’t perform in the following ways: 

Martingale
Tick scalping
Reverse arbitrage trading
Latency arbitrage trading
Hedge arbitrage trading

Does FTUK offer a demo or practice account?

Demo/practice accounts are available directly from the broker which FTUK chose, Eightcap.

What Broker does FTUK use?

FTUK uses Eightcap as their broker which is a popular choice for prop firms and has a great reputation with regards to liquidity, spreads and upkeep. 

What Platform do FTUK offer?

FTUK uses MT4 (Metatrader 4) for all their accounts. 

Is FTUK legit?

Yes! This prop firm has an established client base, a UK registered company, company address and a 4.7 star Trustpilot rating. You can be confidant that your investment is safe with this prop firm.

Does FTUK have a promo code or any discounts?

Yes, we have been given the following code for traders to receive 5% off: Proptradingonline

Where is FTUK based?

FTUK is based in London, UK. The registered address is:

Kemp house, 160 City Road,
London, United Kingdom, EC1V 2NX.

5%ers Logo

The 5%ers Bootcamp Challenge – Complete Guide (Including Earnings!)

Introduction

The 5%ers are an Israeli based prop firm founded in 2016 by Gil Ben Hur. They are one of the best regarded and most experienced online prop firm around. The 5%ers reguarly offer new and exciting methods of funding traders, one of which is the “$100k Bootcamp” model which we will look at today.

Bootcamp Challenge - What is it?

The Bootcamp model is a 3 stage evaluation/challenge in which traders prove their ability to trade consistently and profitability under demo circumstances. Upon successfully completing the challenge the trader will receive a live $100,000 account to trade with. 

The great thing about this model is that the 5%ers only ask for a small portion of the challenge fee (85 Euros) to begin the challenge, with the remainder only due after passing all three stages. After completing the challenge, the trader is required to pay the remainder of the challenge fee (215 Euros) in order to receive their live account. 

 

How Much Can I Earn?

So, the important question, how much can I make?

Well, we’ve done the math, and based on making an average of 5% returns per month, this will be how much you have made at each checkpoint, after passing the initial challenge.

  • After 6 months: $25,000 in cumulative profit (After profit splits) 
  • After 12 months: $171,000 in cumulative profit (After profit splits)
  • At the max scaling at month 17: $901,000 in cumulative profit (After profit splits)  
  • At the end of year 2: $2.3 Million in cumulative profit (After profit splits) 
Will it be easy? No. Is it possible? Absolutely. Read on to learn how to maximize your chances of getting through the challenge.

Bootcamp Potential Earnings

Generated by wpDataTables

The Bootcamp Challenge Targets and Drawdowns

In the first phase of the challenge the trader will receive a demo account with $25,000 of capital. The trader must make a 6% profit ($1,500) on this account to move to the next phase of the challenge. The traders balance or equity must not drop below the maximum loss limit which is set at 5% ($1,250) otherwise the challenge will be failed. 

After successfully completing the first phase, the trader will receive credentials for the second phase of the challenge. The second phase starts with an account of $50,000. The profit target remains at 6% which is $3,000 of profit. Again, the account balance or equity must not drop below 5% which is $2,500.

If the trader successfully completes both of these phases, they move on to the final challenge phase. This time the trader will receive $75,000 in their demo account and must make another 6% profit, which is $4,500. The maximum loss for this is 5% which is $3,750. 

Should the trader complete all three phases, providing they have followed all the rules, they will receive a live account with $100,000 of trading capital.

Bootcamp Challenge - Rules, Restrictions and Limits

Anyone who takes on this challenge should familiarize themselves with the rules, restrictions and limits set by the 5%ers. These are set to ensure that the trader can demonstrate their ability to trade with care, discipline and skill. Lets look at these in detail:

  • Time Limit – The time limit is set at 365 days to complete all three stages of the program. 
  • Stop Loss – A stop loss is required for every trade and must not risk more than 2% of the account capital. 
  • Leverage – The maximum leverage on the account is 1:10. 
  • Trading during news events – Trading during high impact new is allowed in this program.
  • Holding Trades – The holding of trades is allowed both overnight and over the weekend. 
  • Inactivity – Any accounts who do not make a trade in 21 calendar days will be considered inactive and closed. 
  • Maximum accounts – Each trader can have up to three accounts, however each account must trade a different strategy. 
  • Expert Advisors – The trader is allowed to use expert advisors providing they follow all the normal rules such as setting stop losses. The only EAs which are not allowed are those that copy other traders or exploit vulnerabilities and inefficiencies in the Metatrader platform. 
  • Minimum trading days – There are no minimum trading days or trade count for any of the phases. 
risk violation sign

Risk Violations

To ensure traders are given a fair chance, traders will be given 3 warnings that they have not followed a particular rule, these are called risk violations. A risk violation will be given for:

  • Not setting a stop loss on a trade
  • Risking more than 2% on a single trade

If after 3 risk violations the trader continues to break these rules, the account will be automatically terminated. 

The Bootcamp Model - Scaling Plan

After passing the 3 evaluation stages you will be given a live account with a fresh $100,000 of capital, but it doesn’t stop there. Every time you hit 5% profit, your capital will be increased, all the way up to $4 Million! The rate at which it is increased is displayed in the “Earnings” graph above. 

Not only does your capital go up, so does your profit split. Whilst initially your profit split is 50%, it gradually increases until you keep 100% of your profits (This is possible due to the fact that 5%ers can copy your trades).

What Instruments Can I Trade?

In the bootcamp program, you will be able to trade the FX Majors, FX Cross-majors pairs, Gold and Silver.

All Forex Majors:

EUR/USD, GBP/USD, USD/JPY, USD/CAD, AUD/USD, NZD/USD, USD/CHF.

All Forex Majors’ Crossings:

AUD/CAD, AUD/CHF, AUD/JPY, AUD/NZD, CAD/CHF, CAD/JPY, CHF/JPY, EUR/AUD, EUR/CAD, EUR/CHF, EUR/GBP, EUR/JPY, EUR/NZD, GBP/AUD, GBP/CAD, GBP/CHF, GBP/JPY, GBP/NZD, NZD/CAD, NZD/CHF, NZD/JPY.

Commodities:

Gold (XAUUSD) and Silver (XAGUSD)

Why Most Traders Fail the Bootcamp Challenge

Trading is hard. As we have covered it takes huge amounts of time, discipline and skill. Prop trading is even harder as not only do you have phycological effects of trading other people’s money, but you must also follow their rules. Lets look at some common reasons people fail the 5%ers bootcamp challenge.

As discussed earlier, you should choose your lot sizes with care and tailor them to your trading style. Scalpers and day traders are likely to use more leverage, whilst swing traders might use less to allow more room for the trade to play out.

Whatever your trading style it’s important to make sure you pay attention to your lot size.

Many prop firm challenges have very tight and sometimes unrealistic time restraints. This, however, is not one of them. You get a full 12 months to complete 3 relatively reasonable profit targets. 

Patients is a key part to becoming a successful trader. You must wait for the right set-ups, wait for the right entries, the right exits and so forth. 

Key thing to remember – take your time. 

Whilst some experienced traders can trade many different instruments, it is wise for most traders to consider sticking to one or two. 

This allows traders to really get to grips with the nuances and mechanics of their chosen instrument. Traders can also devote more time to the fundamental analysis of their instrument. 

Once you have a tried and tested trading plan, stick to it. Many traders deviate from their plan and trade on “gut feeling” whilst sometimes this may work out, in the long run it will not make you a succesfull trader. 

Back testing is a vital part of developing a winning strategy. There are numerous ways you can back test a strategy including manually (TradingView is great for this) as well as algorithmically (Metatrader is great for this).  

Bootcamp model vs Others - Comparison

Challenge Comparison

Prop Firm Challenge Price Phases Drawdowns
5%ers Bootcamp model 85 Euros/215 Euros (After challenge) 3 Phase (All 6% profit target) 5% Static overall drawdown
FTMO $100k Standard challenge 560 Euros 2 Phase (10%/5% profit target) 5% Daily Loss, 10% Static overall loss
My Forex Funds $100k Evaluation $499 2 Phase (8%/5% profit target) 5% Daily drawdown, 12% Static overall drawdown
The Funded Trader $100k Royal challenge $489 2 Phase (8%/5% profit target) 5% Daily drawdown, 10% Static overall drawdown

How To Pass The Bootcamp Challenge

In order to successfully complete this challenge, traders must demonstrate excellent trading ability, risk management and discipline. Lets look at what makes a good trader.

Risk Management

A solid risk management plan is crucial to be a successful trader. But what is risk management? To be competent at risk management you must familiarize yourself with a number of aspects such as:

This is a broad subject that involves creating a plan on how much you will risk per trade, how many trades you will open each day/week, what portion of your capital will you assign to each trade, what leverage do you plan on using as well as many other ideas. When you have a solid plan you can delve into the math and optimize and improve your money management strategy. 

This is risk management 101. Stop loss orders are the most important tool a trader can implement to reduce risk. Almost every successful trader will use a stop loss of some kind. 

  • Tied in with stop losses, each trader must decide what portion of their capital they are willing to risk on each trade. The maximum limit for this program is 2%, however if you chose to use the full 2% per trade, you will fail the challenge if you encounter 3 losses in a row – not a wise decision. Depending on your trading style/plan a good place to start would be 0.5% – 1%. At this level you have a lot more room for losses. For example if your in phase 1 with $25,000 of capital, it would be wise to risk between $250 – $500 on each trade. See the diagrams below, both a 100 mock trades with one risking 0.5% and the other 2%. Courtesy of Trade Return Calculator – Coghlan Capital.

Risk Per Trade Example

The following charts replicates 100 trades based on certain parameters. Both charts use the same parameters (see below) with only the risk per trade altered. In both examples the profit target is reached, however as you can see in the example with 2% risk, the drawdown is reached after just 4 trades whilst the example with 0.5% risk per trade successfully completes the challenge. 

The overall theme of risk management is not to put all your eggs in one basket. The market is unpredictable and not even the best traders in the world are not right 100% of the time. This is where risk management comes into play; by keeping your losses small and wins big(er) you give yourself a much better chance of passing this challenge and being a successful trader in general.

Example Lot Sizes

Many people ask, “What lot size should I use?” But the realistic answer is There is no “one size fits all”. With that said I’m going to give some rough examples based on my own trading style, your free to use these or use a lot size calculator to better suit them to your own style. 

10 Pip Stop Loss 30 Pip Stop Loss
Account Size 0.5% Risk 1% Risk 2% Risk 0.5% Risk 1% Risk 2% Risk
25000 1.25 Lots 2.5 Lots 5 Lots 0.42 Lots 0.83 Lots 1.66 Lots
50000 2.5 Lots 5 Lots 10 Lots 0.83 Lots 1.66 Lots 3.3 Lots
75000 3.75 Lots 7.5 Lots 15 Lots 1.25 Lots 2.5 Lots 5 Lots
100000 5 Lots 10 Lots 20 Lots 1.66 Lots 3.3 Lots 6.6 Lots

Trading Mindset

Arguably the most important part of trading is the phycological aspects. This is usually one of the biggest hurdles aspiring traders must tackle to break through to success.

To successfully pass the bootcamp challenge you will need to understand the mental pitfalls where many other fail. 

Lets look at some examples of how a poor mindset can harm your chances of passing the challenge:

Revenge Trading

This is when you have suffered a loss or series of losses and decide to stray from your trading and risk management plans. Many who fall into this trap will dramatically increase lot sizes or move stop losses and generally try to recoup losses by increasing risk. 

As you can imageine, revenge trading can dramatically increase your chances of failing the challenge. The maximum loss for each phase is just 5% which leaves no room for making these kinds of mistakes. So, what can you do to prevent this? 

There are a number of methods traders can utilize to prevent revenge trading. One simple one is to set a limit for the amount of losing trades in a day before closing the laptop/ walking away from the computer. Its also vital to understand your headspace as well. If you are feeling stressed, had a bad day, been drinking or just generally not feeling on top form, its wise to consider postponing your trading session.

Nearly every successful trader will have gone through revenge trading at some point. Understanding the phenomenon is a vital aspect to breaking into becoming a successful trader.   

Discipline 

Another area which many new traders struggle with is discipline. Before trading you should have a solid risk management plan as well as trading plan. Where discipline comes into play is when a trader strays from their own plans. Whether its increasing risk above that which you have allocated each trade or taking a trade on an untested/unfamiliar instrument. But why does this harm my chances of passing the bootcamp challenge?

Discipline

The lack of discipline has a number of detrimental effects to your trading. For one, it makes your back testing/forward testing useless. You simply don’t have enough data to know if your trade will be successful or not.

In regards to lack of discipline within risk management, this will most likely result in a failed challenge. Remember, prop firms are looking for consistent traders, if you can’t prove consistency, they will be much less inclined to work with you.  

Trading Plan

The last piece of the puzzle we will talk about today is the trading plan. This is a set of rules you set yourself for when you will take a trade. Some things which should be in your trading plan are:

  • What time of day to trade
  • What sessions to trade
  • What instruments to focus on
  • How many trades per day
  • Risk-reward-ratio
  • Take profit levels
  • Stop Loss levels
  • When and if to move stop loss to breakeven
  • What strategy to use to determine entries/exits

There are countless other points which can go into your plan. The more you can put in your plan, the more confidant you can be when taking a trade, assuming you have back tested it sufficiently. Lets look at some examples of trading strategies.

There are a number of ways you can find profitably strategies. Youtube, paid or free training courses, other traders, books, ebooks and forums to name just a few. After finding a strategy which you feel confident with you should do the following steps to ensure its profitability: 

  1. Learn your strategy front to back
  2. Back test your strategy with a good amount of data
  3. Analyze your back testing data and optimize your strategy 
  4. Repeat steps 2 and 3 until your results look good
  5. When the back testing results are looking good, test the strategy on a demo account
  6. If your strategy proves profitable in back testing and on the demo account, congratulation! You have a winning strategy!

Here are a number of trading strategies and concepts which you might want to look into. I wont go into them in detail in this guide, but be sure to do plenty of research before trying them out.

  • SMC (Smart Money Concepts) – This is where the trader attempts to predict what the institutional traders will do with their capital. 
  • ICT (Inner Circle Trader) – Similar to SMC with concepts designed by Michael J Huddleston.
  • Trend Following – As it sounds, a trader typically waits for a small pullback before entering the trade in the direction of the trend.
  • Mean Reversion – This is usually done in ranging markets. A trader will short when the price reaches resistance or go too far from the average and vice versa.
  • Scalping – This is when a trader makes many trades a day, aiming to make a small profit with each trade. 
  • Swing Trading – This is when a trader takes a longer-term approach. A swing trader typically keeps a trade open over a number of days/weeks.
  • Fundamental trading – This is when a trader attempts to predict how a market will react to certain news events or current affairs.
  • Algo Trading – This is when the trader will design a program to take the trades automatically based on an algorithm. 

Bootcamp Challenge - Final Thoughts

The 5%ers bootcamp challenge is an excellent way to get hold of some serious trading capital. But there is little chance of getting past the challenges on luck alone, traders must prove their ability. 

Before taking on this challenge ensure you are ready and raring to go with a trading plan, risk management plan and a cool, calm and collected mindset. Trade with care and you will maximize your chances of passing this challenge. 

step 2 trade the pool

Trade the Pool Review

The 5%ers are an experienced and trusted prop firm which has been funding traders for over 5 years. They have excellent industry knowledge and have now branched out and started a new brand – Trade the Pool.

Trade the pool offers traders access to nearly the entire stock market which is extremely rare in the prop trading world. In this review we will look at what this prop firm offers in detail and work out if its as good as it looks. 

The funding model - Overview

Trade the Pool is operating a single phase challenge model to receive funding. The main selling point of this program is that they offer unlimited buying power! Therefore traders are only limited by their daily/overall loss limits. Lets take a look at some of the challenge parameters:

Super Buying Power ($240)

  • Daily Loss Limit: $700
  • Profit Target: $4200 (6 times DD)
  • Max Overall Drawdown: $2100 (3 times DD)
  • Payout Split: 50/50
  • Minimum Trades: 50
  • Time Limit: 1 Month

Extra Buying Power ($415)

  • Daily Loss Limit: $1300
  • Profit Target: $7800 (6 times DD)
  • Max Overall Drawdown: $3900 (3 times DD)
  • Payout Split: 55/45
  • Minimum Trades: 50
  • Time Limit: 1 Month

Ultimate Buying Power ($1180)

  • Daily Loss Limit: $2000
  • Profit Target: $12000 (6 times DD)
  • Max Overall Drawdown: $6000 (3 times DD)
  • Payout Split: 65/35
  • Minimum Trades: 50
  • Time Limit: 1 Month

This firm also has an alternate way of scaling. Since buying power is already limited, you can scale your max daily loss instead. We will look at this in more detail below.

Trade the Pool's Pump and Dump scaling

Pump

As mentioned, you have unlimited buying power when trading. Therefore traders are only limited by their loss limits. If you can prove you can manage the risk while making profits, Trade the Pool will increase your loss limits each time certain conditions are met. These conditions are:

  •  5 Consecutive winning days
  • Total profit over the 5 days must be over 3 times your daily loss.

For example: if your daily loss is $700, you must make at least $2100 over 5 days, while ending each day in profit.

Dump

The dump is the operasite of the pump. It can only be implemented if you have already received a pump. Therefor your daily loss will not fall below your inital level. The dump will occure when:

  • 5 Consectutive losing days
  • Total loss over the 5 days exceeds 2 times your daily loss

For example: if your daily loss is $700 and you make a loss of $1450, while ending everyday in a loss, your daily loss limit will be decreased.

Pump/Dump Rates:

The amount your account’s daily loss limit will increase or decrease depends on the type of account you bought. 

  • Super Buying Power ($240) – 5%
  • Extra Buying Power ($415) – 8%
  • Ultimate Buying Power ($1180) – 15%

Trade the Pool's Rules

As this is a totally differant prop trading experience, you can expect slightly differant rules than you may be used to. We’ve looked through the website and the fine print and will outline all the rules that you need to know below.

Profit Target/ Completing the challenge

To complete the challenge phase and become funded you must complete both the required profit target as well as the minimum trades.

Your profit target is 6 times your daily loss limit. For example, if your loss limit is $700, to get funded you must reach $4200 in profit.

The minimum trade requirement is a flat 50 for all accounts.

Risk Management

The maximum amount of allowed risk per trade is 30% of your daily loss limit. This would imply that a stop loss is required for all trades, however this is not mentioned on their website.

Drawdowns

The initial daily drawdown allowance depends on the choice of program. It starts at $700, $1300, $2000.

The max drawdown is simply 3 times this amount, $2100, $3900, $6000.

As mentioned previously this can be increased/decreased depending on performance. 

When can I trade?

You may only trade while the US stock market is open. Therefore you can begin trading at 9.30 ET and must be finished by 15.55 ET (5 minutes before close).

Holding trades

With this prop firm all trades must be closed by the end of the day (15.55 ET). This therefore only allows for day traders. 

Trading Instruments

You can trade almost any stock and ETF in the US markets. There are over 3000 instruments available. The entire list can be found on the website.

Other things to know

Start over button

If you reach your daily loss for the day, but want to continue trading you can pay a fee to reset your daily loss allowance and continue trading. 

Redemption fee

If at the end of the 4 weeks you havn’t hit the profit target/min trades, you can pay a redemption fee and continue trading for longer.

Ruby – Trading edge

Traders will have access to a program called Ruby, which will notify the second any important or newsworthy event happens. Traders can use this to make quick fire decisions on the future of a stock. 

PropTrading.online Verdict

This is certainly an interesting proposal by a very well regarded prop firm. The unique style of this is typical from the 5%ers who like to push the boat out and bring traders new and exciting experiences. 

On the surface this looks to be a great opportunity for those who are more experienced trading with stocks as opposed to forex/commodities/indexes which are the normal instruments most prop firms are limited to. 

The unlimited buying power is an interesting concept, however while coupled with restricting loss limits it does seem more of a gimmick or possibly a method to trick less experienced traders to overleveraging. For the experienced trader however it does open some doors and provides some great opportunities for earnings. 

We would like to see some more information provided on the website as alot of important information and rules appear to be missing, or are not available until after a purchase. Information that we couldn’t find include:

  • Stop Loss rules
  • Rules around bots/automatic trading
  • Copy trading rules
  • Payout times or methods
  • Any rules around consistency
  • Full list of terms and conditions

With that said, we are happy to recommend this prop firm due to their reputation, but advise proceeding with caution due to lack of information on their website. 

Visit Trade the Pool

To visit Trade the Pool, click on the image below and hit the “Trade the Pool” option. Alternatively click the button below. 

5%ers Logo

5 Prop Firm Challenges under $100

Getting started with prop trading can be expensive if your not careful. Some challenge fees can run into $1000s with no guarantee of any returns. Whether your new to the industry or have limited funds this article is aimed at you. 

This list includes a few different challenge models so there is sure to be something for everyone. 

Here a few more points to think about before purchasing any challenge, regardless of price:

  • Rules – Does the prop firm rules align with your trading strategy? Think about things like time limits, consistency rules, expert advisor/copy trading rules and max total or daily drawdowns. 
  • Reputation – All the prop firms on this site have been vetted and you can feel comfortable joining any on this list, but make sure if your chose one not on this list you do your own independent research as their are a lot of people in this industry who are just after your money. 
  • Payouts – Make sure to check that you are happy with the payout split and methods. Deel is a great choice for many and cryptocurrency payouts suiting a lot of people also. Be sure to check out the payout split as well as it can range from 25% up to 100% with most falling around the 75% area. 
  • Make sure your ready! – The most important point, are you ready to trade? Do you have a solid trading plan? Risk management plan? Have you back tested your strategy? Have you got the right mindset? These are all questions you need to be asking yourself before forking out money for a prop firm challenge. 

So, if you feel your ready to begin your prop firm challenge then read on to find our best selection of budget challenges – all under $100.

5. 5%ers $100k Bootcamp challenge

5%ers Logo

Cost: $86

Model: 3 Phase challenge

Payout Split: 50/50 rising to 100 with scaling

Proptrading.online overall rating: 8.8/10

This challenge model is unique in the fact that they only ask for a small fee to begin the prop firm challenge and ask for the remainder after passing. This is by far one of the cheapest ways to get hold of $100,000 of capital. 

5%ers is also a great long standing prop firm, so you can be sure your money is safe!

4. Bouytrade $1000 Instant funding Account

bouytrade logo

Cost: $68

Model: Instant Funding

Payout Split: 50/50 rising to 90/10 with good trading and scaling

Proptrading.online overall rating: 8.3

Bouytrade offers exclusivley instant funding models. While the account balance is only an initial $1000, the rapid scaling can see this grow up to over $1,000,000!

Bouytrade also has a great reputation, this is one of the few options for successful traders to grow their capital to 7 figures.

3. Finotive Funding $2500 Classic Challenge

finotive funding logo

Cost: $50

Model: 2 Phase challenge

Payout Split: 75/25 rising to 95/5 with scaling

Proptrading.online overall rating: 8.6

Finotive funding has a range of models and challenges available. Their new instant funding model looks extremally promising, but for those on a budget make sure to check out the standard models which have very fair prices.

2. My Forex Funds $5,000 Evaluation Challenge

My Forex Funds Prop firm

Cost: $49

Model: 2 Phase challenge

Payout Split: 75/25 rising to 85/15 month by month

Proptrading.online overall rating: 8.5/10

One of the big players in the industry recently started to offer a $5000 challenge account for just $49. My Forex Funds have some of the most relaxed rules around with a huge max drawdown of 12% and reasonable profit targets of just 8% and 5%.

1. Traders with Edge $5000 Turtle Challenge

Traders with edge logo

Cost: $44 (With 20% Discount)

Model: Single phase challenge

Payout Split: 80/20

Proptrading.online overall rating: 8.7/10

Number 1 on this list goes to Traders with Edge, a relatively new prop firm which has a lot of promise.

They are currently running a promotion which offers up to 20% challenges by sharing their link on social media. This coupled with a huge 365 day time limit and a single phase challenge makes this an option not to be missed!

Traders with edge logo

5 Ways to get a free prop firm challenge

No money to buy a prop firm challenge? Or not ready to invest in one yet? Check out this post for options available to get started trading without spending a penny. 

There are a few ways to get hold of free capital or challenges to trade such as:

  • Trading Competitions – You receive a demo account and those who perform best, under certain rules, will win a prize such as a challenge or live account.
  • Social media competitions – The prop firm industry is growing rapidly and many new firms are coming out each month. A lot of these are happy to reward people for bringing in new traders. 
  • In-House competitions – After choosing a prop firm to trade with, keep an eye out for competitions they may offer, The Funded Trader are great for this!
  • Facebook groups – Its best to join as many related Facebook and other social media groups as possible to be sure not to miss any giveaways 

PropTrading.online $100k Competition

We are holding a competition to give one lucky trader a free $100k My Forex Funds account. Simply enter your name and email below to be entered into the competition.

 

Subscribe for a chance to win a free $100,000 challenge account with My Forex Funds!

For full details and Terms visit:
https://proptrading.online/proptrading-online-competition/

1. The Funded Trader Monthly Competition

The Funded Trader has a competition open to everyone in which they give away free challenges as well as great discounts for purchasing challenges.

The competition runs every month and provides a demo account to each participant, who must than prove their trading abilities and climb the leaderboard. At the end of the month those in the top 10 or so positions will receive a prize ranging from 50% discounts to a free $200k challenge! 

 

2. City Traders Imperium Monthly Competition

City Traders Imperium logo

The second competition on our list is held my City Traders Imperium, a prop firm operating out of the UK. 

The compeition prizes are as follows:

3. MyFundedFX 10k Challenge give away

MyFundedFx logo

A relatively new prop firm to the scene is MyFundedFX, and they are offering a completely free 10k challenge for inviting new members to their discord channel. 

With a 5% profit target for phase 1 and a 4% for phase two, this could be one of the best ways to get a live account completely free!

 

4. The Funded Trader Weekly Chess Competition

The Funded Trader has another spot on this list with their weekly chess competition held every Saturday. To participate you must have previously purchased a challenge from them, but its certainly a great opportunity to boost your capital, or get another free challenge after failing previously. 

They offer two levels beginners and professionals based on your chess.com rating. with the winner of each receiving a free challenge.

5. Traders with Edge 50k account giveaway

Traders with edge logo

Traders with edge currently have an promotion in which they are giving away numerous 50K challenges. 

To enter simply register on their website and look out for the email for your personalized link, then watch a video, then you are in the draw – Simple!

Bonus! - FundingU

fundingU logo

FundingU is a not-for-profit company aimed at helping traders achieve their goals. As well as offering paid challenges they also offer a free entry to a certain number of traders each month.

The trader will need to pass a “pre-challenge” before being given the standard 2-phase challenge. 

My Forex Funds Update

What is a prop firm?

A proprietary trading firm is a company who provides their capital to individuals to trade with in return for a share of the profits. Typically this was done in trading rooms in wall street and London etc. Over the past 5 to 10 years many new prop firms have been opening to operate solely online.

These relatively new companies have a wide range of options, capital allocation and rules for traders, so its important to understand how each company expects you to operate with their money. 

What are Prop Firm Funding Models?

Prop firms typically have a large amount of risk when they provide capital to the trader. Therefor its important to these companies that the traders who are going to use their capital are competent, profitable and understand good risk management. These online prop firms tend to do this by way of an evaluation or challenge. These evaluations come in many shapes but I will outline the main ones below.

2 Phase Challenge Model

This is the most common model you are likely to see when searching for an online prop firm. After paying some kind of enrollment fee, the trader is provided with a demo account in which to trade. The trader should treat this as real money and demonstrate their ability. The prop firm will monitor this account and ensure all their rules are being followed such as:

  • Maximum drawdown – The balance or equity of the account should not go below a certain level, for example 10%.
  • Daily drawdown – The balance or equity of the account should not go below a certain level during the trading day, for example 4%
  • Minimum trading days – The minimum number of trades a trader should make trades, this shows the trader has consistency and not just a one hit wonder
  • Max trading days – The maximum number of day allowed to complete the challenge
  • Profit target – The amount of profit needed to complete that phase of the challenge, For example 10%
  • EA/Copier – Some prop firms do not allow expert advisers/bots or copy trading.
  • News Trading – Some firms do not allow you to trade close to major news events such as the non farm payroll.
  • Restrictions on Strategies – Some prop firms do not allow certain strategies such as martingale or hedging. 

After the trader has completed their first phase they are given a new demo account, generally with slightly relaxed rules. The goal of this account is to prove your consistency and didn’t “fluke” the initial phase. After successfully completing this phase, the trader will be given live funds and will start receiving their share of the profits. 

Some Examples of prop firms which use the 2 phase model are:

FTMO - Standard Challenge

FTMO prop firm

Best suited for: FTMO has been the market leader for a while now. They have a great reputation for their support and are generally all round reliable. Therefor this will suit the trader who wants a tried and tested firm to trade with. 

Overall Ratings

  • Models on offer: 8/10
  • Cost: 8/10
  • Rule Fairness: 8/10
  • Support: 10/10
  • Profitability: 9/10
  • Scaling System: 9/10
  • Overall: 8.7/10

MyForexFunds - Evaluation

My Forex Funds Prop firm

Best suited for: Models to suit all kinds of traders. Rapid model is particularly good for beginner traders as it allows you to earn while you learn. 

Overall Ratings

  • Models on offer: 9/10
  • Cost: 9/10
  • Rule Fairness: 8/10
  • Support: 7/10
  • Profitability: 9/10
  • Scaling System: 9/10
  • Overall: 8.5/10

1 Phase Model

The 1 Phase model is much like the 2 phase model, however the trader only has to complete a single phase before being given live funds. This allows the trader to begin to earn real money faster. Some examples of 1 phase models are:

Traders with Edge - Turtle

Traders with edge

Best suited for:  This prop firm offers an excellent scaling model in which would allow a consistent trader to build a huge account with relative ease.

Overall Ratings

  • Models on offer: 8/10
  • Cost: 9/10
  • Rule Fairness: 8/10
  • Support: 8/10
  • Profitability: 9/10
  • Scaling System: 9/10
  • Overall: 8.7/10

Instant Funding Model

This model generally costs more than the challenge models, and usually provides less capital, however it gives the trader access to live funds immediately. Many prop firms have fast scaling up plans to increase the capital available to the trader as they demonstrate their skills.

 

Some examples of live funding accounts are:

 

The 5%ers Instant Funding

5%ers Logo

Best suited for: They offer a fantastic instant funding model for traders who want to get into the action right away.

Overall Ratings

  • Models on offer: 10/10
  • Cost: 8/10
  • Rule Fairness: 8/10
  • Support: 9/10
  • Profitability: 9/10
  • Scaling System: 9/10
  • Overall: 8.8/10

MyForexFunds - Accelerated

My Forex Funds Prop firm

Best suited for: Models to suit all kinds of traders. Rapid model is particularly good for beginner traders as it allows you to earn while you learn. 

Overall Ratings

  • Models on offer: 9/10
  • Cost: 9/10
  • Rule Fairness: 8/10
  • Support: 7/10
  • Profitability: 9/10
  • Scaling System: 9/10
  • Overall: 8.5/10
surgetrader logo

Prop Trading Review – SurgeTrader

Best suited for: This prop firm offers huge accounts from the get go, all the way up to $1 Million. They only require a single phase challenge with no minimum days. This firm would suit an experienced trader who wants large capital fast.

Overall Ratings

  • Models on offer: 7/10
  • Cost: 8/10
  • Rule Fairness: 8/10
  • Support: 9/10
  • Profitability: 10/10
  • Scaling System: 8/10
  • Overall: 8.5/10

Surgetrader – Pros

  • Massive account sizes – Option to go for a $1 million account right off the bat.
  • Doesn’t restrict trading styles – Surgetrader allows pretty much any trading styles including copy trading, EA’s and Algos
  • USA Based – Based out of Florida, this company benefits from access to great funding and tighter security measures.
  • Single Phase Challenge – Just one phase to pass with a 10% Profit target.

Surgetrader – Cons

  • Tight Drawdowns – 5% overall drawdown which trails, as well as 4% daily drawdown. Traders must use strict risk managment to ensure these arent breached.
  • Not the cheapest – There are other cheaper options out the, most however are 2 phase models which must be taken into account

Key Details


Surgetrader prop firm offers a single phase “audition” in which the trader must reach 10% profit target while staying within the rules. Once the 10% profit target has been reached, the trader will receive live funds.

Max drawdown is 5%.

Max Daily drawdown is 4%.

A stop loss must be placed on all orders.

Trades must be closed by close on Fridays.

Maximum lot size rules.

 

Expert advisors, copy trading and algo trading is all allowed with this prop firm.

75% to the trader, 25 % to the prop firm

Surgetrader has excellent support, they offer live chat, email and phone.

Prices range from:

$250 for a $25k account 

$400 for a $50k account

$700 for a $100k account

$1800 for a $250k account

$3500 for a $500k account

$6500 for a massive $1 million account

Forex, Metals, Oils and Indices receive up to 10:1 leverage. Individual stocks receive 5:1 leverage. Cryptocurrencies receive 2:1 leverage.

Conclusion 

Surgetrader is one of the few prop firms offering a massive $1 million live funded account. The drawdown rules are relatively strict however. If you are already a consistent trader looking for massive capital, this is the firm for you. For beginners there are better options out there.

FTMO prop firm

Prop Firm Review – FTMO

Best suited for: FTMO are often regarded as the best in the industry; They designed the standard 2 phase challenge model. This prop firm would suit those who want a tried and tested company with a great reputation.

Overall Ratings

  • Models on offer: 7/10
  • Cost: 8/10
  • Rule Fairness: 8/10
  • Support: 8/10
  • Profitability: 9/10
  • Scaling System: 7/10
  • Overall: 8.0/10

Overview

FTMO is often the number one prop firm in peoples list. Its easy to understand why; the easy to follow design, the great reputation, the years of experience and the massive $400k option. The one thing FTMO lacks in is a direct funding model which many other firms are offering traders. 

Prop Firm - Pros

  • Many Base Currencies – FTMO offer accounts in a number of different currencies while most other firms offer only US dollars.
  • Been around a long time – FTMO lead the way for the prop firm industry. Their 2 phase challenge model has been replicated by dozens of firms. This experience and reputation is certainly a reason why so many people sign up to FTMO as their prop firm of choice.
  • Great Payout Split – As soon as you receive your funded account you will benefit from an 80/20 payout split (In your favor). After 4 months if you have been consistently profitable, not only will your account increase, you will receive a 90% profit split also!
  • CTrader! – FTMO is one of the few prop firms that allow you to use CTrader. CTrader is an excellent platform for manual trading, packed filled with features and has a great UI.

Prop Firm - Cons

  • News Trading – FTMO does not allow trading around the news (2 minutes either side). This will inevitably catch out less experienced traders or those who don’t follow the fundamentals as closely. 
  • Slow Scaling – Accounts are only able to scale every 4 months, based on performance. Some other firms offer scaling at every 10% profit intervals or such. This can be countered by purchases more accounts, however the maximum capital allocation is set at $400k.

Key Details


Standard 2 Phase challenge model. There are a few variants however, such as agressive and swing trading options, designed to tailor your challenge to your trading style. 

Phase 1 – Hit 10% profit target to proceed. Max drawdown is either 10% or 20% dependent on option chosen.

Phase 2 – Same rules as phase 1, however this phase has a profit target of just 5%. After this you will receive a live funded account.

FTMO do not allow traders to trade within 2 minutes of any major news event. They also do not allow holding over the weekend  unless you have chosen the swing option.

  • Max daily loss –  Either 5% for normal challenge or 10% for the aggressive challenge.
  • Max total loss – 10% for normal Challenge or 20% for aggressive challenge
  • Minimum trading days – 10 days for both phases of the challenge.
  • Max time allotted – 30 days for phase 1, 60 days for phase 2. Re-sit possible if in profit and end of challenge.

FTMO Allows expert advisors, copiers, bots and any other type of trading style.

FTMO offers a 80/20 profit split to start of with. They increase this to 90% after you have scaled your account.

FTMO has great support, many traders testify to this on sites like Trustpilot. They’re systems are also extremely well designed and automated, so there is often little need for support.

The prices start at 155 Euros for a $/£10k challenge. The $200k challenge costs 1080 Euros.

Leverage is 1:100 for standard accounts and 1:30 for swing accounts

Conclusion 

Overall, FTMO is a great choice and a perfect starting point for those looking for the standard challenge model. Just be aware of the news trading rule and take your time.

Frequently Asked Questions

When does my FTMO challenge start? 

After making payment for your FTMO challenge you will receive an email within a couple of hours. 

The email will confirm the details of your challenge and will include login credentials for the chosen platform. 

Where is FTMO based? 

FTMO is based in Prague, Czech Republic. The full address is:

Prague 1,

Purkynova str. 2121/3,

110 00,

Czech Republic

Can anyone join FTMO?

The only requirements for joining FTMO are that:

  • You are over 18 years old
  • You are not from/located in Iran, Syria or North Korea

Other than that FTMO welcomes anyone with any level of experience. It must be noted however that in order to be successful traders should have a good understanding of:

  • Position sizing
  • Fundemental and Technical analysis
  • Risk Management (Most important)
  • Understand leverage
  • Basic understanding of the Forex/Commodity markets
  • Have a developed and tested strategy
  • Have some experience trading, even in a demo account
  • An intermediate level of Math

All the above can be learned online from various sources for example, YouTube, Google, Trading Websites and EBooks.

If I fail the challenge do I get a second chance?

If you breach any of the trading rules such as:

  • Balance or Equity falls below daily/max drawdown levels
  • You traded within 2 minutes of a news event
  • Try to cheat the system in any way

Then your account will be disabled. Under these circumstances you will not get another chance unless you purchase another challenge. The only exception is if all trading rules have been followed but you haven’t reached your profit target, FTMO will allow one 14 day extension of the challenge.

How do I get my share of the profits?

By default, 14 days after making your first live trade you will have the option to withdraw your profits. You are given the choice if you would like to change this payment date. From then on payments will be made every month. 

The options to withdraw your profits are: Wire transfer, Skrill or crypto.

The Funded Trader Prop Firm

Prop Firm Review – The Funded Trader

COUPON ALERT: 2MX6IMHZUO (5% off)

Best suited for: This prop firm has a great community feel to it and would suit a trader who likes to be surrounded with like minded individuals.

Overall Ratings

  • Models on offer: 7/10
  • Cost: 7/10
  • Rule Fairness: 8/10
  • Support: 9/10
  • Profitability: 9/10
  • Scaling System: 7/10
  • Overall: 8.3/10

Overview

The Funded Trader is a relatively new and exciting prop firm based in USA. They are certainly one of the more fun prop firms around and have a tight nit community feel. They are one of the few firms around who regularly interact with their traders in person, often flying them out for all expense paid exciting weekends. On top of that the management appear to have a great grasp on the industry and are committed to moving the company, and traders, forward. They certainly earn their place in the top 5 prop firms!

Key Details


The Funded Trader deploys the standard 2 phase challenge model. They do however have two variants of this: Standard challenge and Rapid challenge.

The rapid challenge has a reduced profit target at the expense of a reduced max drawdown. Their is also no minimum trading days with the rapid challenge.

Both Models

  • Weekend/Overnight: Allowed
  • News Trading: Allowed
  • Expert advisors: Not Allowed

Standard Challenge

  • Profit Target: 10% (Phase 1) 5% (Phase 2)
  • Max Drawdown: 12%
  • Daily Max Drawdown: 6%
  • Minimum Trading Days: 5

Rapid Challenge

  • Profit Target: 8% (Phase 1) 5% (Phase 2)
  • Max Drawdown: 8%
  • Daily Max Drawdown: 5%
  • Minimum Trading Days: 0

The Funded Trader does not allow the use of expert advisors, bots or copy traders.

The Funded Trader offers 80% profit split which will increase to 90% upon scaling.

The Funded Trader have great and responsive support. They have an active discord community as well as live chat.

The cost of challenges ranges from $299 for a $50k account to $1898 for a massive $400k account.

Leverage is 1:200 for standard challenges and 1:100 for rapid challenges.

Conclusion 

Overall, this prop firm has a bunch of exciting features and would suit a someone who enjoys engaging in the trader community. Their $400k account also allows experienced traders to make some huge profits, as evident by their recent 6-figure payouts. This is definitely a prop firm to watch out for!

 

Frequently Asked Questions

Is The Funded Trader Legit?

Yes! The funded trader has many happy traders in its discord who aren’t shy about sharing how much their making. The are hundreds of payment proofs provided by traders in their discord group.

The FUnded trader payout proof

 

Does The Funded Trader use MT5?

Yes, The Funded Trader offers traders MT4 or MT5 platforms.

What broker does The Funded Trader use?

The Funded Trader has moved all its accounts over to Eightcap, a leading broker.

Does The Funded Trader allow EA’s?

The Funded Trader does not allow EA’s in any form.

Where is The Funded Trader Located?

My Forex Funds is located in Texas, USA.

Can I Request payment in crypto at The Funded Trader?

Yes, The Funded Trader allows payment to be made in crypto as well as traditional payments facilitated by DEEL.

Traders with edge logo

My Prop Firm Log – Traders with Edge

Funding Model: $5k Turtle Challenge

Initial thoughts: Traders with edge is a new prop firm which as far as I can tell started in 2022. I was a little hesitant to try this firm considering there’s no proven track record and no Trustpilot reviews. However, I reached out to live chat who seemed friendly and quick to respond, their website looks well presented and the content seems consistent with the prop firms we see today. 

So with that in mind, I opted to try their cheapest challenge which worked out at just $44 (after the discount code given for completing the survey pop-up) 

Rules: The rules for my particular challenge are:

(bear in mind these are based on the “turtle” challange, the “hare” challenge offers slightly more relaxed rules at the expense of a lower time limit)

  • Single Phase – with this model only one phase must be passed before being given a live account. 
  • Profit Target – The profit target is pretty standard at 10%
  • Max drawdown – The max overall drawdown is 5% which is on the lower side but it should be manageable with proper risk management. This is a trailing drawdown also which I’m not particularly a fan of.
  • Daily Drawdown – The daily drawdown is 2.5% which resets at 9pm (GMT) This will restrict certain trading styles but with a bit of planning it shouldn’t be too much of an issue. 
  • Minimum/Maximum Trading days – The time limit on this plan is 365 days, so no issues there. The minimum trading days is 10, and unlike other prop firms such as FTMO they do not allow you to fill these days with “token” trades e.g. 0.01 lots briefly open and closed. 
  • Profit split – The profit split is the standard 80/20.
  • Leverage – The leverage on the account 1:10 which is suitable considering the lower drawdowns. 
  • Other rules – The company seem quite clued in on how people try to abuse the system and have a number of specific rules designed to counter this. I have had a look through them and none should affect the honest trader (Just read over the minimum trading day rules). 
Signup Process: Very quick and simple. A few minutes after paying for my challenge I had an email with my dashboard login and MT5 Login as well as a helpful email from the broker.

My Game plan and Log

I plan to take my time and keep focus on my risk management plan. I am currently focusing on my live account at the moment, but I will keep an eye out for the best trades to take on this challenge. I plan to risk no more than 0.5% per trade, this is especially important considering the tight daily draw down.  

Week 1.

At the end of week one I have completed around 20 trades. My account is now sitting at $5195 which I’m particularly happy with.

The first couple of days I slipped up and let my emotions get the better of me, this led to me to make a few crushing losses, one in particular was a $86 loss which is well over 1% risk. 

The latter part of the week however I knuckled down and followed my strategy to a T, which led me to win 8 out of my last 10 trades, with both loses under 0.5% risk. 

Overall, I’m feeling positive for this challenge. There is clearly plenty of time and as long as I follow my strategy and implement my risk management, I feel I should pass without issue.

 

Week 2

Wednesday (1st June 2022): I have been taking it slow with this account (Been busy blowing up my live account). I have stuck to my general plan though, taking the very best of trades with proper risk management and this seems to be paying off. I am now up to $5295, around 6% profit. I might avoid this account tomorrow until I establish whether I am in the correct mindset for trading (I took a lot of losses on the aforementioned live account today). If I feel okay, I may take a trade or two and try and hit $5350 to close the week.

Thursday (2nd June 2022): Just a quick update for today. I only took two trades on this account today, one win and one loss, breaking even for the end of the day. I didn’t feel 100% confident on many trades today, but I traded them on my live account and had a lot of success. I’m taking a few days away from the screen now, I plan to return on Sunday to analyze my trades from the week before and try to find areas to improve.