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One of the great things about online prop trading is the ability to break into the trading industry without the need to risk thousands of dollars in capital. Nevertheless, many challenges can still be quite costly, especially for those in low-GDP countries.
Therefore, the reason for this article is to highlight 5 great prop firm challenges that you can start with less than $100. All the prop firms on this list have been verified by us.
So, we have $100 to spend on a prop firm challenge. Let’s see what we can get.
[Our Top Choice] The 5%ers – $5,000 High-Stakes Challenge
Price: $39
The 5%ers are one of the longest running prop firms and have built a great reputation in the industry. They are known for their innovative funding models and loyal trader base.
The latest offering by the 5%ers is a two-phase challenge model which includes some unique features such as bonuses, salaries and rapid scaling.
At just $39 for the $5k account, this is one not to be missed!
(Coming Soon) The Funded Trader – $10,000 Dragon Challenge
Price: $39
The Funded Trader are soon to release their new three-phase challenge which will feature significantly reduced prices compared to the standard challenges.
If you would like to read more about this then check out our article here.
Alerternativley, head to The Funded Trader below.
5 – Ryze Funding
Price: from $5
Current Promotion – 20% Discount
Code: TRENDLINE
Ryze Funding is a new firm offering ultra-low-cost funding options. They achieve this by offering traders an option to choose between a 2 or a 3-phase challenge.
The cheapest option is just $5, which is a three-phase evaluation for $500 trading capital.
This promotion is due to expire by the end of June 2023.
4- FundedNext – $6,000 Stellar Challenge
Price: $59
FundedNext has now released their much-awaited Stellar challenges. This lowers the cost of their cheapest challenge to just $59 for $6k of capital.
To top it off, this firm will also pay out 15% of the profits made during the demo challenge. Furthermore, they will also refund the entire fee upon passing the challenge.
3. The Concept Trading – $1150 Junior Associate (Traditional)
Price: $75
The Concept Trading offers a unique method of funding. The traditional accounts is effectively a single-phase challenge. However, instead of a 10% profit target, there is only a 5% profit target needed to progress to a live account.
Another great aspect of this firm is the speed at which you can grow an account. The account will increase by 50% every time a 5% profit is hit. The maximum amount of capital is also extremely large, going into multi-million dollars.
If you’re looking for a firm with a great scaling plan and simple-to-follow rules, make sure to check out the concept trading.
Current Promotion – 5% Discount
Code: PTO5
2. Traders with Edge – $5,000 Turtle Challenge
Price: $50
Traders with Edge are an Australian-based prop firm offering multiple funding models. One such model includes the “turtle” challenge which is a single-phase challenge with a full year to complete.
Some other perks of this firm are the regular promotions and competitions they run. Be sure to check out their in-built community/forum for more information on this.
Overall, this is certainly a firm you should check out if you are on a budget.
Current Promotion – 10% Discount
Code: 10off
1. My Funded FX – $5,000 Challenge
Price: $50
Similar to My Forex Funds, this firm also offers a $5k account but with MyFundedFX you have an option of single-phase and two-phase. What’s more, both challenges come with zero time limits and no minimum trading days.
Again, MyFundedFX also offers the $10k account which comes in at around $100. Another point to note, this firm is usually always running a promotion so be sure to keep an eye out for discount codes.
If you’re looking for a challenge for under $100, MyFundedFX is certainly a great choice.
Current Promotion – 8% Off
Affiliate Code: PTC
If you have found this article helpful please consider sharing it on any of your socials. Also, don’t forget you can use our Funding Finder App to explore also challenges within a custom budget.
Last updated on November 23, 2023
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List of Prop Firms That Offer a Free Trail (Including FTMO)
FAQs
As mentioned above, SurgeTrader's minimum combine fee is $495. This grants access to a $25,000 account for the 14-day evaluation. They also offer a 30-day combine for $995 that provides a $50,000 account. This make their prop challenge one of the most affordable in the $25k+ account range.
Which is the cheapest prop firm challenge? ›
As mentioned above, SurgeTrader's minimum combine fee is $495. This grants access to a $25,000 account for the 14-day evaluation. They also offer a 30-day combine for $995 that provides a $50,000 account. This make their prop challenge one of the most affordable in the $25k+ account range.
What is the cheapest prop firm in 2023? ›
The cheapest prop firm is The5ers, 2 step $5000 account, which costs traders just $39, making it the cheapest funding option on the market. In this article, we'll explore the 5 cheapest forex prop firms, the cheapest stock prop firm, and the fees you'll be paying your prop firm. So, let's get into it!
Which prop firm offers free trials? ›
The Best Prop Firms with Free Trials
| Firm | Overall Score | Max instant funding |
|---|
| FTMO | 4.03 | 200,000 USD |
| Smart Prop Trader | 3.57 | 200,000 USD |
| Fidelcrest | 3.5 | 1 Million USD |
| Finotive Funding | 3.35 | 3.2 million USD |
1 more rowWhile FTMO stands out as the best overall prop firm, other options such as Fidelcrest, 5%ers, BluFX, Glow Node, Smart Prop Trader, FTUK, Instant Funding, and SurgeTrader also offer attractive features and benefits.
Is Topstep worth it? ›
For futures traders looking to get experience trading with leverage without risking their capital, Topstep provides an excellent opportunity. The funded account is well worth the effort of passing the Combine evaluation.
Which prop firm is better than FTMO? ›
FunderPro: FunderPro is the most popular alternative to FTMO. It has a similar two-step challenge process, but the requirements are slightly more lenient.
Which is the most trusted prop firm? ›
Best Prop Trading Firms 2024 - Reviewed by Experts
- Topstep.
- The 5%ers.
- Earn2Trade.
- SurgeTrader.
- FTMO.
- E8.
- City Traders Imperium.
- Fidelcrest.
One popular review platform, TrustPilot, gives Earn2Trade a rating of 4.5 out of 5 stars based on over 1,000 reviews. Many users praise the firm for its excellent customer support, fair trading conditions, and timely profit payouts.
How many prop traders fail? ›
According to it, 4% of traders, on average, pass prop firm challenges. But only 1% of traders kept their funded accounts for a reasonable amount of time. While this result is not nearly as bad as the one discussed earlier, it still looks bleak for prospective prop traders. But why is the percentage of failure so high?
Which prop firms give a free trial? FunderPro, FTMO, UltraCap Trading are some of the best options for traders who want to join a prop trading firm that offers free trials or demo accounts.
Which prop firms are free to join? ›
Monitor or research different prop firms to see who offers this opportunity. For example, at RebelsFunding, you can join the monthly trading contests for free and trade on the RF-Trader for a certain period of time. If you reach the profit target and follow the rules, you can win a funded account and even cash prize.
How many people fail prop firm challenges? ›
Around 10% pass
According to FTMO statistics, only about 10% of traders are able to pass the funded account challenge at any account level. This means approximately 90% of aspiring funded traders fail the evaluation and are unable to gain access to the firm's capital.
What prop firm pays the fastest? ›
Fastest Industry Payouts – MyFundedFutures has the fastest payouts in the futures prop trading space which has become more and more important with some of the other futures prop trading firms taking weeks to payout.
What is the best prop firm instant? ›
Best instant funding prop firms are:
- Fidelcrest - accounts for traders of different experience levels, no requirement of minimum trading days.
- 5%ers - instant access to funded accounts without evaluation, 50/50 profit split.
- BluFX - funding from $10,000 to $100,000 without challenges, no one-time fee.
FTMO just banned US citizens: USA update – January 2024: Since the establishment of our company, our goal has been to provide top-quality services for our clients. Unfortunately, at present, we are not able to do that in the United States due to specific conditions in the market segment there.
Are there free prop trading firms? ›
FunderPro, FTMO, UltraCap Trading are some of the best options for traders who want to join a prop trading firm that offers free trials or demo accounts.
What percentage of people pass prop firm challenges? ›
The article from Lux Trading Firm provides slightly different results. According to it, 4% of traders, on average, pass prop firm challenges. But only 1% of traders kept their funded accounts for a reasonable amount of time.
How hard is it to pass a prop firm challenge? ›
With the Prop Firm challenges, it's not just about failing or winning. You must be profitable and fulfill certain trading objectives which makes it even harder. Less than 1% of traders who attempt the challenge pass and get funded.
How much does a prop firm cost? ›
To summarize, the amount of money you need to open a prop firm can range from $10,000 to $1 million, depending on the type of prop firm, the technology, the registration, the liquidity, and the CRM tool.
