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● Updated August 2026

Cheapest Prop Firm Challenges (2026)

A cheap challenge is only cheap if you don't buy five of them. Before optimizing for entry price, understand the retry policy and the drawdown rules — those determine your real cost per funded account far more than the sticker price. Challenge fees are non-refundable if you fail.

#1
FTMO
The industry reference · Est. 2015
9.2
/ 10
Why it's here: Serious forex and indices traders who want the most established firm. Overall score 9.2/10, ranked #1 in our Prop Firms list.
Profit split
80–90%
Max funding
$400,000
Challenge fee
From €155
Evaluation
2 phases
  • Longest track record in the industry
  • Up to 90% profit split with scaling
  • Free retry on a failed second phase if phase one was passed
  • Strict daily drawdown rules
  • No US clients
Visit FTMO → Read full review Challenge fees are non-refundable if failed.
#2
Topstep
Futures funding pioneer · Est. 2012
8.9
/ 10
Why it's here: CME futures traders who want a US-friendly, long-established program. Overall score 8.9/10, ranked #2 in our Prop Firms list.
Profit split
90% (100% on first $10k)
Max funding
$150,000
Challenge fee
From $49/mo
Evaluation
1 phase
  • US traders accepted
  • One-step evaluation
  • Strong payout track record
  • Futures only — no forex or equities
  • Monthly subscription during evaluation
Visit Topstep → Read full review Challenge fees are non-refundable if failed.
#3
Apex Trader Funding
Futures funding at scale
8.7
/ 10
Why it's here: Futures traders who want multiple accounts and frequent discounts. Overall score 8.7/10, ranked #3 in our Prop Firms list.
Profit split
90% (100% on first $25k)
Max funding
$300,000 per account
Challenge fee
From $147/mo (often discounted)
Evaluation
1 phase
  • Up to 20 funded accounts at once
  • Very frequent promotional pricing
  • US traders accepted
  • Recurring monthly fees add up
  • Consistency rules on payouts
Visit Apex Trader Funding → Read full review Challenge fees are non-refundable if failed.
#4
FundedNext
Profit share from the evaluation phase
8.5
/ 10
Why it's here: Forex traders who want to earn during the challenge itself. Overall score 8.5/10, ranked #4 in our Prop Firms list.
Profit split
Up to 95%
Max funding
$300,000
Challenge fee
From $59
Evaluation
1 or 2 phases
  • Pays a share of evaluation-phase profits
  • Multiple model choices (1-step, 2-step, instant)
  • Up to 95% split on some plans
  • Newer firm than FTMO
  • Rules differ significantly between models
Visit FundedNext → Read full review Challenge fees are non-refundable if failed.
#5
The5ers
Instant funding & aggressive scaling
8.4
/ 10
Why it's here: Forex traders who prefer instant funding over evaluation phases. Overall score 8.4/10, ranked #5 in our Prop Firms list.
Profit split
Up to 100% with scaling
Max funding
$4,000,000 (scaled)
Entry fee
From $39
Evaluation
Instant or 2 phases
  • Instant-funding option with no challenge
  • Aggressive scaling plan doubles accounts
  • No time limits on most programs
  • Lower initial split on instant plans
  • Smaller starting allocations
Visit The5ers → Read full review Challenge fees are non-refundable if failed.

How this list is built

These picks are filtered from our full Prop Firms rankings using the criteria in this page's title, then ordered by the attribute that matters most for this use case. Scores come from our standard methodology: Profit split & payouts (35%), challenge fairness (30%), funding & scaling (20%), platform & support (15%). Affiliate partnerships never change a position.

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