4 Best Prop Firms to Trade With in 2026: Ranked and Reviewed

We know choosing the right prop firm can be challenging. You’re trusting a company with your money, valuable trading time, and the expectation that you’ll receive prompt payouts when you ask for them. The problem is that most prop firms have similar profit splits, similar rules, and similar promises, so it’s hard to understand which one you can trust.

With that in mind, we did the heavy lifting instead of relying on marketing claims. We spent over 120 hours researching and hands-on testing of more than 40 prop firms, backed by impartial data, to see how they perform in real trading conditions. We tested: payout reliability, rule enforcement, challenge structure, profit-to-drawdown balance, pricing, trading conditions, platform stability, and customer support.

We also know that there’s no single “one fits all” prop firm; every trader has unique needs. Because of that, we ranked and grouped the top performers by category to make it easier to find the firm that fits how you trade and what matters most to you when choosing a prop firm.

Below are the prop firms that performed best in our testing for 2026, along with clear explanations for why each one earned its spot on the list.

List of Top Prop Trading Firms in 2026

How Did FXEmpire Choose the Best Prop Firm

When I was starting out in prop trading, the hardest part was knowing which firm was actually worth trusting. Many looked good on paper, but it wasn’t always clear how they performed once real money and payouts were involved.

To make that decision easier for you, we purchased challenges ourselves and tested each firm under real trading conditions, from onboarding and platform performance to payout handling. We then benchmarked firms against industry standards, scoring each one using our rating system based on trust, payout reliability, trading rules, costs, platform stability, and long-term viability.

• Prop Firm Reputation & Trust: I’ve seen prop firms shut down or deny payouts after traders become profitable, which is why trust and reputation matter most when choosing a firm. To assess this, we examined each firm’s operating history and real trader experiences, reviewing verified feedback and recurring complaints on platforms like Trustpilot, Prop Firm Match, and other independent sources. This helped us understand how firms treat traders in practice, not just how they market themselves.
• Payout History & Reliability: We checked the payout history and reliability by reviewing records from sources such as Prop Firm Match and Payout Junction, along with discussions across Discord, social media, and trader communities. When payouts were reported as rejected, we checked for valid reasons like KYC issues or prohibited trading behavior and contacted firms when clarification was needed. Unresolved complaints counted against a firm’s reliability.
• Account Affordability & Pricing: We calculated how much trading capital you actually get for the money you put in by using a unique metric TCPD (True Capital Per Dollar), which factors in challenge fees, minimum entry costs, drawdown limits, and overall value. Some firms are easier to start with, while others require a larger upfront commitment.
• Trading Rules & Restrictions: Trading rules play a big role in how comfortable a firm is to trade with, so we reviewed them closely. We went beyond headline policies, reading the fine print, Terms and Conditions, FAQs, and detailed rule pages to understand what’s actually allowed in practice. This included checking support for automated and copy trading, holding positions overnight or over the weekend, trading around news events, and the smaller restrictions that often catch traders by surprise.
• Trading Conditions: I traded the accounts myself to assess real trading costs, including spreads, commissions, and swaps, as well as execution quality such as slippage and order fills. I also tested liquidity during major news events to see whether trading conditions felt close to a real live market.
• Global Availability: We looked at where each firm is actually available and who can open and trade an account without restrictions. Accessibility matters, since the last thing you want is to buy a challenge only to find out later that you’re not eligible to trade or withdraw based on where you’re located.
• Profit-Split Structure: I compared and reviewed each firm’s profit split and payout structure, looking at how profits are shared, how often payouts are made, and what conditions apply when it’s time to withdraw earnings.
• Trading Platforms: We looked at the trading platforms each firm offers, including MetaTrader, cTrader, Match-Trader, and others, and focused on how stable they are, how quickly trades execute, and whether the platform feels reliable for active trading.
• Available Markets & Instruments: We reviewed the range of markets each firm allows you to trade, including forex, crypto, indices, metals, commodities, and stocks, along with how broad the overall instrument selection is.
• Scaling Plans & Growth Potential: As a trader we want to have an uncapped growth potential, so we looked at whether firms offer a clear path to scaling, including maximum funding limits and what kind of performance is required to grow an account over time.
• Customer Support Quality: We tested each firm’s customer support by contacting them through live chat and email, asking both general and technical questions to evaluate responsiveness and accuracy. We paid close attention to response times, clarity of explanations, and how effectively issues were resolved in practice.

Prop Firms Comparison Table

How to Choose the Best Prop Firm

What Features to Consider When Choosing a Prop Firm?

Choosing a prop firm is not an easy task and isn’t one-size-fits-all. The right firm depends on your trading style, strategy, and long-term objectives. When comparing prop firms, these are the key factors worth paying attention to:

• Trust & Transparency: You need to review the firm’s reputation, years in operation, Trustpilot ratings, and verified trader feedback to assess credibility and reliability.
• Trading Rules: In my experience, important details are often buried in the fine print, so it’s essential to read a firm’s trading rules, terms, and conditions carefully. A reliable firm clearly outlines its trading rules, with realistic profit targets, fair drawdown limits, and no hidden or overly restrictive conditions.
• Supported Trading Styles: It’s important to choose a firm whose rules match your trading style. A swing trader, for example, could face unnecessary losses if overnight holding isn’t allowed. Check whether the firm supports the way you trade, including permission for Expert Advisors and copy trading for automated strategies, overnight and weekend positions for swing trading, reasonable leverage for day trading, and news trading without unnecessary restrictions if you trade around economic events.
• Payout Structure: You need to evaluate profit split percentages and payout frequency to confirm they are fair, competitive, and aligned with industry standards.
• Scaling Plan: Growth and scaling are important for us as traders, so you need to look for a transparent scaling program that increases capital allocation as performance milestones are met, offering meaningful long-term growth potential.
• Customer Support: When issues come up, having reliable support makes a real difference. From firsthand experience, firms with responsive customer service and clear, accurate answers were able to resolve account and trading issues much faster. So, you need to ensure that the firm you are choosing has reliable and quick customer support with multiple channels.

Which Firm Suits My Trading Style?

Different traders have different needs, and choosing the right prop firm depends on how you trade. Below is a clearer way to match trading styles with suitable firms:

• Scalpers & Algo Traders: In my opinion, The5ers provides favorable trading conditions, tight spreads, and clear rules for scalping and automated strategies. It has a clear stance for EA’s and copy trading, and is pretty suitable for you if you want to trade automated strategies. Its tight spread helps in quick scalping, but keep in mind that high frequency trading is not allowed.
• Beginners: If you’re just getting started, it makes sense to begin with an affordable challenge and limit upfront risk. FundedNext is a good fit for beginners, offering multiple challenge options across different risk levels. Its straightforward onboarding, simple account structures, and clean trading interfaces make it easier to focus on learning and execution without unnecessary complexity.
• Day Traders: For day traders, execution speed and leverage play a big role, and Funding Pips is well suited to that style. It offers leverage of up to 1:100, solid liquidity, competitive fees, and execution that holds up well during active intraday trading.
• Swing Traders: For swing traders, firms must allow overnight and weekend holding, since trades are typically held for several days, and swap-free accounts are ideal to avoid unnecessary holding costs. In this regard, The5ers and FundedNext are well suited to this style. The5ers offers swap-free accounts for Muslim traders, while FundedNext provides a swap-free option via an add-on. Both structures support longer-term trades without penalizing time in the market.
• News Traders: As a trader, sometimes you want to scalp during news, and many firms protect against this behavior by implementing a No Trading Window around news, but FXIFY stands out here as it permits news trading without restrictions across its one-phase, two-phase (Classic and Standard), and three-phase account models, making it suitable for event-driven strategies.

What Costs Should You Consider When Choosing a Prop Firm?

A lot of traders don’t realize the full range of costs they’ll run into until they’re already trading, which can be frustrating. From going through these accounts myself, I’ve learned that understanding the complete cost structure is just as important as the challenge rules. When evaluating a prop firm, here are the key costs worth paying attention to:

• Challenge Fees: Start by looking at the upfront fee required to enter a challenge, which usually depends on the account size you choose. From experience, this is often the first cost traders notice, but it’s also where pricing can vary the most between firms.
• Commission Fees: You need to understand the per-trade commissions charged on executed trades, commonly around $5 per lot, depending on the instrument and firm.
• Spreads: Spreads are one of the biggest factors affecting both trading costs and overall performance. The tighter the spread, the better it usually is for you as a trader. It’s worth paying attention to the difference between buy and sell prices, since wider spreads can quickly eat into profits, especially if you trade frequently or use short-term strategies.
• Swap Fees: If you are a swing trader, it is important to keep an eye on overnight or weekend holding costs known as swap fees, which are charged when positions are carried beyond the trading day, based on interest rate differentials between assets.
• Withdrawal Fees: Some firms charge fees when you withdraw profits, and in a few cases the payout method itself can come with additional costs. From experience, these charges can add up and reduce your overall returns, so it’s worth checking withdrawal fees and payment terms in advance.

What Challenge Types Are Available?

When choosing a proprietary trading firm, it is important to understand the types of accounts offered, since each one is designed for a different trading style, pace, and level of difficulty. Below are the most common challenge models you’ll come across.

• Instant Funding: If you already have a proven strategy and want immediate access to funded capital, instant funding accounts can be a good fit so it is important to check that the firm you are choosing provides an instant finding account. From experience, these accounts skip the evaluation phase but are usually more expensive and come with stricter rules, so it’s worth weighing the trade-offs before committing.
• One-Step Challenge: If you prefer a faster path to getting funded, the one-step challenge is usually the simplest option. It involves passing a single evaluation phase, which means fewer rules to manage and less time spent proving consistency. From experience, this model suits traders who are confident in their strategy and don’t want a long evaluation process.
• Two-Step Challenge: The two-step challenge is the most common setup across prop firms. As a trader, you need to pass two evaluation phases before receiving a funded account, which adds an extra layer of confirmation around consistency and risk management. In practice, this model works well for traders who are comfortable trading under rules and don’t mind taking a bit more time to reach funding.
• Three-Step Challenge: Three-step challenges are usually the most affordable option and are built for slower, more controlled progression. With multiple evaluation phases, the emphasis is on consistency rather than speed. From what I’ve seen, this structure works well for traders who want a lower-cost entry, time to practice in a prop environment, and a longer runway to follow the rules and demonstrate consistent performance before getting funded.

What to Avoid When Choosing a Prop Firm

In the prop trading space, it’s important to be cautious when something looks too good to be true. When selecting a proprietary trading firm, focusing only on low prices or heavy discounts can lead to poor outcomes. Consider avoiding the following pitfalls:

• Choosing Price Over Trust: Extremely cheap challenge fees can sometimes signal trade-offs like unclear rules, unreliable payouts, or weak reputations. From experience, it’s safer to prioritize a firm’s credibility, track record, and trader feedback over short-term discounts.
• Focusing Only on Notional Account Size: Large advertised account sizes can be misleading. Evaluate the actual drawdown limits and risk parameters, as these determine how much capital you can realistically trade.
• Unclear or Restrictive Rules: Avoid firms with vague, frequently changing, or overly restrictive trading rules that can disqualify traders unexpectedly.
• Inconsistent or Delayed Payouts: Firms without a proven payout history or with repeated withdrawal complaints pose a higher risk.
• Limited Transparency: Lack of clear information on fees, scaling plans, or trading conditions is a red flag and should be treated cautiously.