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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
True Trading Group (TTG) stands out by offering an extremely low-cost challenge to access a sizable amount of trading capital. For just a $49 entry fee, TTG provides traders a 14-day challenge to prove they deserve a funded account with up to $25,000. Key facts: $49 entry fee.
Which is the cheapest prop firm challenge? ›
Best cheap forex prop firms
- FTMO: evaluations starting at $399.
- TopStepTrader: Challenges starting at $375.
- T4tCapital: Flexible evaluation options starting at $299.
- Funded Trading Plus: Starting at $25.
- Earn2Trade: $99 Mini challenge.
- True Trading Group: $49 evaluation with a $25,000 virtual account.
True Trading Group (TTG) stands out by offering an extremely low-cost challenge to access a sizable amount of trading capital. For just a $49 entry fee, TTG provides traders a 14-day challenge to prove they deserve a funded account with up to $25,000. Key facts: $49 entry fee.
Which prop firm has the lowest spread? ›
Considered among the top low spread prop firms for Forex, Lark Funding is ideal for traders focusing on currency markets. Traders can access diverse markets of Forex pairs, indices, commodities, and popular cryptos.
Which prop firm offers free trials? ›
Top 3 prop trading demo (trial) accounts
| Company | Trial Period (Days) | Trading Assets |
|---|
| TopStep | 14 | Regulator Futures, forex, cryptocurrencies |
| FTMO | 14 | Regulator Forex, commodities, indices, cryptocurrencies |
| Funded Next | 10 | Regulator Forex, commodities, indices |
Feb 5, 2024
FTUK is a reputable prop firm with instant funding accounts, which attracts seasoned traders who want to access large trading capital without a lengthy evaluation process. The funding range is from 14k to 5 million USD with a profit share of 80% and maximum leverage of 1:100.
Is there a free prop firm? ›
There are unique opportunities to get a free prop firm challenge account for forex. The current competition in the prop firm industry has created new offers to attract traders. Many forex prop firm challenge offers include smaller accounts, lower challenge fees, and refunds upon passing.
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.
Which is the most trusted prop firm? ›
The most popular prop trading firms and funded programmes
- Axi Select.
- FTMO.
- The Forex Funder.
- E8 Markets.
- True Forex Funds.
- The 5%ers.
- Funded Next.
That result should look catastrophic for anyone who hopes to join a prop firm. 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.
While 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.
Which prop firm has the tightest spread? ›
Coinexx: Coinexx offers tight spreads starting from as low as 0.0 pips. Providing traders with cost-effective trading conditions. XM: it is recognized for its low spreads, with some of the currency pairs often having spreads as low as 0.0 pips during favorable market conditions.
Which prop firm has no time limit? ›
FTMO (Funded Traders Management Online) is one of the largest and most well-known prop firms in the industry. Based in the Czech Republic, they have funded over 12,000 traders with over $350 million since 2017. FTMO offers various account sizes for Forex and stock indices with no time limits to complete.
What are the best free prop firms? ›
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.
Who is offering free trials? ›
The Best Streaming Services With Free Trials in 2024
- Hulu (30-Day Free Trial) ...
- Paramount+ (7-Day Free Trial) ...
- Apple TV+ (7-Day Free Trial) ...
- DirecTV Stream (5-Day Free Trial) ...
- fuboTV (7-Day Free Trial) ...
- Philo TV (7-Day Free Trial) ...
- Mubi (7-Day Free Trial) ...
- Amazon Prime (30-Day Free Trial)
Below are three steps to take, to pass the prop firm challenge and always be at the top of your game:
- TAKE 100% RESPONSIBILITY: ...
- PACE YOURSELF, START SMALL AND ALWAYS RISK LESS THAN 1% PER TRADE (especially for Day Traders and Scalpers): ...
- WATCH YOUR EMOTIONS, ESPECIALLY DURING NEWS EVENTS:
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.
