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
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
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
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
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
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!