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Prop Trading Guides

Prop Trading Guides & Rules Overview

Up-to-date rule summaries for top proprietary trading firms. Use this guide to quickly compare evaluation models, drawdown limits, profit targets, and payout policies before selecting a firm.

  • FTMO

    • Profit Target (Phase 1): 10%
    • Profit Target (Phase 2): 5%
    • Daily Loss Limit: 5% of initial balance (resets daily)
    • Max Loss: 10% total drawdown
    • Payouts: On-demand (same-day possible)
    • Trading Style: News trading allowed with limits
    Visit FTMO →

  • The5ers

    • Model: Scaling-based evaluation (no strict challenge target)
    • Drawdown: Dynamic DLL (Daily Loss Limit recalculated by equity)
    • Profit Target: Milestone-based progression
    • Payouts: 7–14 days
    • Trading Style: Good for swing traders (overnight allowed)
    Visit The5ers →

  • Alpha Capital Group

    • Profit Targets: 8% (Phase 1), 5% (Phase 2)
    • Daily Drawdown: 5%
    • Max Drawdown: 10%
    • Payouts: 24–48 hours
    • Trading Style: Indices-friendly; news trading allowed with conditions
    Visit ACG →

  • E8 Markets

    • Profit Targets: 8% (Phase 1), 5% (Phase 2)
    • Daily Drawdown: 5%
    • Max Drawdown: 8%
    • Payouts: Weekly or on-demand
    • Extras: Popular discount codes & flexible rules
    Visit E8 Markets →

  • Funding Pips

    • Profit Targets: 8% / 5%
    • Daily Drawdown: 5%
    • Max Drawdown: 10%
    • Payouts: 24–48 hours
    • Trading Style: Tight spreads; scalping allowed
    Visit Funding Pips →

  • QT Funded

    • Profit Targets: 8% / 5%
    • Daily Drawdown: 4–5%
    • Max Drawdown: 8–10%
    • Payouts: Same-day available
    • Trading Style: Broad rule freedom; indices encouraged
    Visit QT Funded →

  • FundedNext

    • Profit Targets: 10% / 5%
    • Daily Drawdown: 5%
    • Max Drawdown: 10%
    • Payouts: Bi-weekly
    • Evaluation Type: 2-step or Express model
    Visit FundedNext →

  • Blueberry Funded

    • Profit Targets: 8% / 5%
    • Daily Drawdown: 5%
    • Max Drawdown: 10%
    • Payouts: Weekly
    • Evaluation Type: 2-step
    Visit Blueberry Funded →

  • BrightFunded

    • Profit Targets: 10% / 5%
    • Daily Drawdown: 4–5%
    • Max Drawdown: 8–10%
    • Payouts: 7 days
    • Trading Style: All strategies allowed
    Visit BrightFunded →

  • Top One Trader

    • Profit Targets: 8% / 5%
    • Daily Drawdown: 4%
    • Max Drawdown: 8%
    • Payouts: After 14 days
    • Evaluation Type: 2-step
    Visit Top One Trader →

  • Blue Guardian

    • Profit Targets: 8% / 5%
    • Daily Drawdown: 5%
    • Max Drawdown: 10%
    • Payouts: Weekly
    • Trading Style: Swing trading allowed
    Visit Blue Guardian →

  • Goat Funded Trader

    • Profit Targets: 8% / 5%
    • Daily Drawdown: 5%
    • Max Drawdown: 10%
    • Payouts: 7 days
    • Trading Style: No restrictions
    Visit GFT →

  • OANDA Prop Trader

    • Profit Targets: 8% / 5%
    • Daily Drawdown: 4%
    • Max Drawdown: 8%
    • Payouts: Bi-weekly
    • Platform: MT5
    Visit OANDA →

  • Breakout Prop

    • Profit Targets: 10% / 5%
    • Daily Drawdown: 4%
    • Max Drawdown: 8%
    • Payouts: 14 days
    • Trading Style: All strategies allowed
    Visit Breakout →

  • Fintokei

    • Profit Targets: 8% / 5%
    • Daily Drawdown: 5%
    • Max Drawdown: 10%
    • Payouts: 14 days
    • Trading Style: Robots allowed
    Visit Fintokei →

  • Funding Traders

    • Profit Targets: 8% / 5%
    • Daily Drawdown: 5%
    • Max Drawdown: 10%
    • Payouts: Weekly
    • Evaluation Type: 2-step
    Visit Funding Traders →

About Prop Trading Rules & Evaluation Models

Prop trading firms use a variety of evaluation models designed to assess trader consistency, risk management, and overall profitability. Most firms follow a structured approach involving profit targets, daily loss limits, and maximum drawdown thresholds. Understanding these rules is essential for traders who want to choose the right funding program and scale accounts responsibly. This guide provides an in-depth comparison across major firms, including two-step challenges, one-step models, instant funding programs, and scaling plans.

Traders looking for the best prop firm should consider several factors: payout speed, trading conditions, leverage, instrument availability, restrictions during news events, and whether expert advisors (EAs) or automated trading systems are allowed. Each firm sets unique parameters, making it crucial to compare rule structures before committing to a challenge fee. Our rule breakdown helps traders navigate the landscape with clarity and confidence.

Helpful Prop Trading Resources

Frequently Asked Questions

What is a typical profit target for prop firm challenges?

Most two-step challenges require 8–10% in Phase 1 and 5% in Phase 2, although some firms offer lower or milestone-based targets.

How do daily loss limits work?

Daily loss limits usually range between 4–5% and reset each day. Some firms use equity-based dynamic limits.

What payout speeds can traders expect?

Payouts vary from same-day withdrawals to weekly or bi-weekly cycles depending on the firm and funding model.

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