Best Cheap forex prop firms 2024 (2024)

There are many different forex prop firms to choose from, and each one has its own unique requirements and conditions. Some prop firms are more selective than others, and some have higher minimum deposit requirements. It is important to do your research before choosing a prop firm to ensure that you are comfortable with their terms and conditions.

In this guide, we will discuss some of the cheapest forex prop firms available. We will also provide an overview of each firm's requirements and conditions.

List best Forex Prop Firms in 2024

✅The5%ers Open An Account

✅The Forex Funder Open An Account

✅ E8 Funding (E8 Markets) Open An Account

✅FTMO Open An Account

✅ Fidelcrest Open An Account

✅LuxTradingFirm Open An Account

✅ Sabiotrade Open An Account

✅True forex Funds Open An Account

Best cheap forex prop firms

  1. FTMO: evaluations starting at $399
  2. TopStepTrader: Challenges starting at $375
  3. T4tCapital: Flexible evaluation options starting at $299
  4. Funded Trading Plus: Starting at $25
  5. Earn2Trade: $99 Mini challenge
  6. True Trading Group: $49 evaluation with a $25,000 virtual account
  7. Apex Trading: $195 evaluation for a $25,000 virtual account
  8. The Prop Trading Group: $299 evaluation with a $50,000 virtual account
  9. Blue Sky Prop: $249 evaluation for a $25,000 virtual account and 70% profit split
  10. SurgeTrader: $495 evaluation for a $25,000 virtual account

Cheap forex prop firms review 2024

FTMO: Evaluations Starting at $399

FTMO is a popular forex prop firm that offers a variety of evaluation programs starting at $399. FTMO's evaluation programs are designed to assess the trading skills of potential traders. If a trader passes an evaluation program, they will be funded with a live trading account.

Overview:

  • FTMO's evaluation programs are typically two-staged. The first stage is a free demo stage, which allows traders to practice trading without risking any real money. The second stage is a paid evaluation stage, which costs $399.
  • FTMO's evaluation programs have a variety of profit targets and maximum loss limits. Traders must meet these targets and limits in order to pass the evaluation.
  • FTMO's funded accounts range in size from $50,000 to $200,000. The size of the funded account that a trader receives is based on their performance during the evaluation process.

Participation Fee:

  • The participation fee for FTMO's evaluation programs is $399.
  • Traders can choose to pay the participation fee in one lump sum or in installments.
  • FTMO offers a refund policy for traders who do not pass the evaluation program.

Funded Capital Fund:

  • FTMO's funded accounts range in size from $50,000 to $200,000.
  • The size of the funded account that a trader receives is based on their performance during the evaluation process.
  • Traders who pass the evaluation program will be funded with a live trading account within one business day.

Pros and Cons:

Pros:

  • FTMO's evaluation programs are relatively inexpensive.
  • FTMO's funded accounts are large, ranging from $50,000 to $200,000.
  • FTMO offers a refund policy for traders who do not pass the evaluation program.
  • FTMO's platform offers a full-featured suite of trading tools and resources.

Cons:

  • FTMO's evaluation programs are difficult to pass.
  • FTMO's funded accounts have strict profit targets and maximum loss limits.
  • FTMO's customer service is not always responsive.

TopStepTrader: Challenges Starting at $375

TopStepTrader is another popular forex prop firm that offers a variety of challenges starting at $375. TopStepTrader's challenges are designed to assess the trading skills of potential traders. If a trader passes a challenge, they will be funded with a live trading account.

Overview:

  • TopStepTrader's challenges are typically two-staged. The first stage is a free demo stage, which allows traders to practice trading without risking any real money. The second stage is a paid challenge stage, which costs $375.
  • TopStepTrader's challenges have a variety of profit targets and maximum loss limits. Traders must meet these targets and limits in order to pass the challenge.
  • TopStepTrader's funded accounts range in size from $50,000 to $150,000. The size of the funded account that a trader receives is based on their performance during the challenge process.

Participation Fee:

  • The participation fee for TopStepTrader's challenges is $375.
  • Traders can choose to pay the participation fee in one lump sum or in installments.
  • TopStepTrader offers a refund policy for traders who do not pass the challenge.

Funded Capital Fund:

  • TopStepTrader's funded accounts range in size from $50,000 to $150,000.
  • The size of the funded account that a trader receives is based on their performance during the challenge process.
  • Traders who pass the challenge will be funded with a live trading account within one business day.

Pros and Cons:

Pros:

  • TopStepTrader's challenges are relatively inexpensive.
  • TopStepTrader's funded accounts are large, ranging from $50,000 to $150,000.
  • TopStepTrader offers a refund policy for traders who do not pass the challenge.
  • TopStepTrader's platform offers a full-featured suite of trading tools and resources.

Cons:

  • TopStepTrader's challenges are difficult to pass.
  • TopStepTrader's funded accounts have strict profit targets and maximum loss limits.
  • TopStepTrader's customer service is not always responsive.

T4tCapital: Flexible Evaluation Options Starting at $299

T4tCapital is a forex prop firm that offers flexible evaluation options starting at $299. T4tCapital's evaluation programs are designed to assess the trading skills of potential traders. If a trader passes an evaluation program, they will be funded with a live trading account.

Overview:

  • T4tCapital's evaluation programs have a variety of options, including a free demo stage, a paid evaluation stage, and a mentorship program.
  • T4tCapital's evaluation programs have a variety of profit targets and maximum loss limits. Traders must meet these targets and limits in order to pass the evaluation.
  • T4tCapital's funded accounts range in size from $25,000 to $100,000. The size of the funded account that a trader receives is based on their performance during the evaluation process.

Participation Fee:

  • The participation fee for T4tCapital's evaluation programs ranges from $0 to $299, depending on the chosen program.
  • Traders can choose to pay the participation fee in one lump sum or in installments.
  • T4tCapital offers a refund policy for traders who do not pass the evaluation program.

Funded Capital Fund:

  • T4tCapital's funded accounts range in size from $25,000 to $100,000.
  • The size of the funded account that a trader receives is based on their performance during the evaluation process.
  • Traders who pass the evaluation program will be funded with a live trading account within one business day.

Pros and Cons:

Pros:

  • T4tCapital offers flexible evaluation options, including a free demo stage and a mentorship program.
  • T4tCapital's funded accounts are available in a range of sizes, from $25,000 to $100,000.
  • T4tCapital offers a refund policy for traders who do not pass the evaluation program.
  • T4tCapital's platform offers a full-featured suite of trading tools and resources.

Cons:

  • T4tCapital's evaluation programs can be expensive, with some options costing up to $299.
  • T4tCapital's funded accounts have strict profit targets and maximum loss limits.
  • T4tCapital's customer service is not always responsive.

Funded Trading Plus: Starting at $25

Funded Trading Plus is a forex prop firm that offers a unique approach to funded trading. Instead of an evaluation process, Funded Trading Plus allows traders to start trading with a funded account for as little as $25.

Overview:

  • Funded Trading Plus offers a variety of funded account options, ranging from $25 to $50,000.
  • Traders do not need to pass an evaluation or challenge to receive a funded account.
  • Funded Trading Plus has a profit split model, where traders keep a percentage of their profits and the rest goes to the firm.

Participation Fee:

  • There is no participation fee for Funded Trading Plus.
  • Traders only need to deposit a minimum of $25 to start trading with a funded account.

Funded Capital Fund:

  • Funded Trading Plus offers funded accounts ranging from $25 to $50,000.
  • The size of the funded account that a trader receives is based on their initial deposit and chosen account option.

Pros and Cons:

Pros:

  • Funded Trading Plus offers a low-cost option for traders to start trading with a funded account.
  • Traders do not need to pass an evaluation or challenge to receive a funded account.
  • Funded Trading Plus has a profit split model, allowing traders to keep a percentage of their profits.

Cons:

  • Funded Trading Plus may not be suitable for experienced traders who are looking for larger funded accounts.
  • The profit split model means that traders will not keep all of their profits.
  • Funded Trading Plus does not offer as many resources and tools as other prop firms.

Earn2Trade: $99 Mini Challenge

Earn2Trade is a forex prop firm that offers a unique mini challenge for traders to earn a funded account. The mini challenge costs $99 and allows traders to demonstrate their trading skills in a simulated environment.

Overview:

  • The Earn2Trade mini challenge is a one-time fee of $99.
  • Traders must meet specific profit targets and maximum loss limits to pass the mini challenge.
  • If a trader passes the mini challenge, they will receive a funded account ranging from $25,000 to $50,000.

Participation Fee:

  • The participation fee for the Earn2Trade mini challenge is $99.
  • Traders only need to pay this fee once to participate in the mini challenge.

Funded Capital Fund:

  • Earn2Trade offers funded accounts ranging from $25,000 to $50,000.
  • The size of the funded account that a trader receives is based on their performance during the mini challenge.

Pros and Cons:

Pros:

  • The Earn2Trade mini challenge is relatively inexpensive at $99.
  • Traders do not need to pay any additional fees if they pass the mini challenge.
  • Earn2Trade offers a refund policy for traders who do not pass the mini challenge.

Cons:

  • The mini challenge may not be suitable for experienced traders who are looking for larger funded accounts.
  • Traders must meet specific profit targets and maximum loss limits to pass the mini challenge.
  • Earn2Trade does not offer as many resources and tools as other prop firms.

True Trading Group: $49 evaluation with a $25,000 virtual account

True Trading Group (TTG) offers a very affordable $49 per month membership that includes access to a $25,000 virtual funded account for evaluation purposes.

Overview

  • TTG provides access to a professional trading platform, live trading chat room, educational resources and more.
  • The $49 basic membership fee lets you test your skills with a $25,000 virtual account.
  • If you pass the evaluation, you can get funded for up to $300,000 to trade real money.

Participation fee

  • The participation fee for the funded account is just $274 per month. This gives you access to up to $300,000 in buying power.
  • There are no commissions charged on trades. You just pay the low monthly fee.

Funded account details

  • You need to pass an evaluation with consistent profitability to qualify for funding of up to $300,000.
  • Funded account profits are split 70% to the trader, 30% to TTG.

Pros and cons

Pros

  • Very low $49 entry cost to test with virtual money
  • Access to education, chat room and trading tools
  • Low monthly fee structure

Cons

  • Have to pass evaluation and be consistently profitable to get funding
  • 30% profit split is higher than some other prop firms

Apex Trading: $195 evaluation for a $25,000 virtual account

Apex Trading offers a $195 package to test your skills with a $25,000 virtual account before getting access to a funded account up to $300,000.

Overview

  • Pay $195 upfront for virtual money evaluation account
  • Access to trading courses, chat room, and trading tools
  • Funded accounts up to $300,000 if you pass combine

Participation fee

  • $195 per month for funded account
  • No commissions, just the monthly fee

Funded account details

  • Need to pass combine evaluation at Apex to get funding
  • Funded accounts offer profit splits starting at 80% trader/20% Apex

Pros and cons

Pros

  • Low $195 entry cost for virtual money combine
  • Funded accounts offer up to 80% profit split

Cons

  • $195 monthly fee for funded account
  • Have to pass combine to get funding

The Prop Trading Group: $299 evaluation with a $50,000 virtual account

The Prop Trading Group provides a $299 package to test your skills with a $50,000 virtual account and offers funded accounts up to $100,000.

Overview

  • $299 upfront virtual account package
  • Access to trading courses and chat room
  • Chance to get funded account up to $100,000

Participation fee

  • No monthly fee, pay commissions per trade
  • Commission fees: $3 per 100k traded

Funded account details

  • Need to pass Prop Trading Group combine for funding
  • 80% profit split for funded accounts

Pros and cons

Pros

  • $50,000 virtual account for $299
  • No monthly fees, just low commissions
  • 80% profit split on funded accounts

Cons

  • Smaller maximum funding amount ($100,000)
  • Have to pass combine evaluation

Blue Sky Prop: $249 evaluation for a $25,000 virtual account and 70% profit split

Blue Sky Prop offers an affordable $249 package for a $25,000 virtual account and funded accounts with a 70% profit split.

Overview

  • $249 upfront cost for virtual account
  • Chance to get funded for up to $300,000
  • Trading courses, tools and chat room access

Participation fee

  • No monthly fees, pay per trade
  • $3 per 100k traded commission rate

Funded account details

  • Pass Blue Sky combine to get funding
  • 70% profit split for funded traders

Pros and cons

Pros

  • Low $249 entry point for virtual account
  • Good 70% profit split on funded accounts

Cons

  • Have to pass combine evaluation
  • Maximum $300,000 funding may be limiting

SurgeTrader: $495 evaluation for a $25,000 virtual account

SurgeTrader offers a $495 package for traders to test their skills with a $25,000 virtual account and access to their trading education and community.

Overview

  • $495 upfront cost for virtual account
  • Access to trading courses and chat room
  • Chance to get funded account up to $300,000

Participation fee

  • $195 monthly fee if funded
  • No commissions, just monthly fee

Funded account details

  • Have to pass SurgeTrader combine
  • 70% profit split for funded accounts

Pros and cons

Pros

  • $25,000 virtual account for $495
  • Good 70% profit split if funded

Cons

  • $195 monthly fee if funded
  • Have to pass combine evaluation

Conclusion

Forex prop firms can be a great option for traders looking to mitigate risk and trade with a funded account. However, it is important to carefully research and consider the terms and conditions of each firm before choosing one. In this guide, we have discussed some of the cheapest forex prop firms available, including FTMO, TopStepTrader, T4tCapital, Funded Trading Plus, and Earn2Trade. Each firm has its own unique evaluation process, participation fees, funded capital fund options, and pros and cons. It is up to the individual trader to decide which prop firm best fits their trading style and goals.

Read more

List of forex prop trading firms

Free forex prop firm challenge

Top 10 best Forex Prop Firms in UK

Which prop firm is the best in India

Best Cheap forex prop firms 2024 (2024)

References

Top Articles
Latest Posts
Article information

Author: Sen. Emmett Berge

Last Updated:

Views: 6374

Rating: 5 / 5 (60 voted)

Reviews: 83% of readers found this page helpful

Author information

Name: Sen. Emmett Berge

Birthday: 1993-06-17

Address: 787 Elvis Divide, Port Brice, OH 24507-6802

Phone: +9779049645255

Job: Senior Healthcare Specialist

Hobby: Cycling, Model building, Kitesurfing, Origami, Lapidary, Dance, Basketball

Introduction: My name is Sen. Emmett Berge, I am a funny, vast, charming, courageous, enthusiastic, jolly, famous person who loves writing and wants to share my knowledge and understanding with you.