How to Choose a Prop Firm: Pick the Best One for You

Four futures prop firms side by side (50K accounts)

These numbers come from each firm's own pages, checked on October 5, 2026. Prices are list prices. All four run promo codes, so you often pay less at checkout.

Firm and plan	Cost to start	Maximum loss	Daily loss limit	Profit split
Topstep 50K Combine	$49/month + $149 activation, or $95/month with no activation fee	$2,000, trails the end-of-day balance	Optional ($1,000 if added)	90/10
Apex 50K EOD	One-time fee, 30 days of access, + $119 activation (Standard)	$2,000, set from the closing balance	$1,000, pauses the day	100% of approved payouts, capped
MyFundedFutures Builder 50K	$153 one-time, no activation fee	$2,000, end-of-day trailing	$1,000 soft pause	80/20
FTMO Futures Growth 50K	$119/month, no activation fee	$2,000, end-of-day trailing	None in the evaluation	90/10

On Topstep's split: traders who joined its new dashboard before January 12, 2026 keep 100% of their first $10,000 in lifetime profits; everyone else is on 90/10 from the first dollar. Sources: Topstep pricing, Apex evaluation fees, MyFundedFutures Builder plan and the FTMO Futures comparison table. New to the model? Start with what a prop firm is and how it works.

Step 1: Start with the drawdown rule

The maximum loss ends more evaluations than anything else, so choose its type before you look at price. There are three: end-of-day trailing (the floor rises only with your closing balance, though Topstep still enforces it in real time, open losses included, per its MLL rules), intraday trailing (the floor follows your highest equity, open profit included, as on Apex Intraday evaluations and MyFundedFutures Rapid funded accounts) and static (the floor never moves; Topstep sells it only as limited Topstep Labs releases).

The decision: if your trades often go against you before they work, rule out intraday trailing; an end-of-day rule gives you more room. If you can get a static account, it is the easiest to manage. The end-of-day vs intraday drawdown guide runs the same trade under both trailing rules, and our static vs trailing comparison shows how much room a fixed floor buys over two weeks of trades.

Step 2: Add up the real cost of getting funded

The sticker price is one of four costs. Write all four down:

1. Evaluation fee. Monthly at Topstep and FTMO Futures. One-time at Apex and at MyFundedFutures (for purchases since August 25, 2026).
2. Activation fee after you pass. Topstep's Standard path charges $149 per funded account; its No Activation Fee path charges nothing but costs $95 a month instead of $49. Apex charges $119 on a 50K EOD Standard account and $0 on its No Activation Fee version. MyFundedFutures and FTMO Futures charge none.
3. Resets. A Topstep reset costs the same as the monthly price. FTMO Futures charges $109 for a 50K Growth reset. Apex's current evaluations have no resets at all, so a failed attempt means buying a new evaluation.
4. Time. Apex gives you 30 calendar days. Topstep and FTMO Futures have no time limit but bill you every month until you pass.

Example: a Topstep 50K Standard Combine passed on the second try costs $49 + $49 (reset) + $149 (activation) = $247. If you expect to need several attempts, a cheap reset matters more than a cheap first month. Our cheapest prop firms ranking runs this total-cost math for every major futures firm at 50K and 25K.

Step 3: Read the payout rules, not just the split

A high split means little if you can't reach a payout. Compare when you can request one and how much you can take:

Firm (50K funded)	Split	When you can request	Per-request limits
Topstep XFA	90/10	After 5 winning days of $150+ (Standard path)	Up to 50% of balance, max $2,000; minimum $125
Apex EOD PA	100%	After 5 days of $250+; no single day 50%+ of the profit	Minimum $500; first payout max $1,500; closes after 6 payouts
MyFundedFutures Builder	80/20	Every 48 hours, 2 qualifying days per cycle	$500 minimum, $2,000 maximum per cycle
FTMO Futures Growth	90/10	Every 4 qualifying days of $150+	Up to 50% of profit, max $2,500

The "100% of the first $25,000, then 90%" rule you still see quoted for Apex belongs to its Legacy accounts, not the current ones. Sources: Topstep payout policy and Apex EOD payouts. For every firm's split in one place, see our prop firm profit split comparison; for how many days each firm takes to actually pay, see prop firm payout times.

Step 4: Check the consistency and minimum-day rules

These rules punish one big day, and they vary more than any other rule. In the evaluation, Topstep's Combine caps your best day at 55% of the profit target, FTMO Futures at 40% (Growth) or 50% (Pro) of profit, and MyFundedFutures at 30% to 50% on Rapid, Rapid EOD and Pro. Apex and MyFundedFutures Builder have none in the evaluation and apply a 50% rule to payouts instead.

The decision: if most of your profit comes from one or two big days, choose a plan without an evaluation consistency rule, or plan to spread your profit out. Our prop firm rule checklist has every number for these plans, minimum days included, in one table.

Step 5: Confirm your platform and trading style are allowed

• Platform: Topstep runs on TopstepX only. Apex lets you pick Tradovate, Rithmic or WealthCharts at checkout and can't convert later. MyFundedFutures supports NinjaTrader, Tradovate, TradingView, Quantower, Volumetrica, DeepChart and ATAS. FTMO Futures uses NinjaTrader, Tradovate and TradingView. If NinjaTrader is your platform, our NinjaTrader setup guide covers the Tradovate and Rithmic prop firm logins.
• News: FTMO Futures allows news trading in every phase. MyFundedFutures bans Tier 1 news (FOMC, CPI, the jobs report) on Rapid and Pro funded accounts. Apex allows news within your normal strategy but bans setups that bet on the release, such as orders on both sides.
• Automation: FTMO Futures allows algorithms but not high-frequency trading. Apex bans automated trading.
• Holding past the close: Apex, MyFundedFutures and FTMO Futures all require you to be flat before the daily close (4:59 PM ET at Apex, 4:10 PM ET at the other two). If you hold overnight, you need a firm that allows it in writing.

Step 6: Check the firm is real, open and clear about what is simulated

Registration. Most retail evaluation firms are not registered with the NFA or the CFTC. They sell simulated trading programs, not brokerage accounts. Topstep, for example, runs its Combine and Express Funded Account through TopstepTrader, LLC; only its brokerage affiliate, Topstep Brokerage LLC, is an NFA-member introducing broker (Topstep disclosures). FTMO says on its site that it does not act as a broker. So a missing NFA listing is normal. A firm that claims to be "regulated" or "NFA registered" is another matter: search its exact legal name in NFA BASIC. If it isn't there, the claim is false, and a listed affiliate does not make the evaluation itself regulated.

Still operating. Firms close. The Funded Trader paused all operations in March 2024. FundingPips shut its futures arm, FundingTicks, in January 2026, and FundedSeat closed in September 2026. Search recent news for the firm's name before you pay.

Simulated vs live. At Topstep, Apex, MyFundedFutures and FTMO Futures the evaluation and the first funded account are simulated, and the payouts are real money. Live capital comes later, by invitation. A firm that blurs this line is a red flag.

Published results. Prefer firms that publish outcomes. Topstep reports that 33.3% of traders who reached its funded level in 2025 received a payout. MyFundedFutures reports that 19.97% of participants passed its evaluation and 39.2% of sim-funded traders earned at least one payout.

Step 7: Match the firm to how you trade

If you...	Look for	Examples
Hold through pullbacks	End-of-day drawdown	Topstep Combine, Apex EOD, MyFundedFutures Builder or Rapid EOD, FTMO Futures
Want fast payouts	Daily payouts	MyFundedFutures Rapid (daily, 90/10; intraday trailing once funded)
Dislike monthly bills	One-time evaluation	Apex (30 days of access), MyFundedFutures
Need time to hit the target	No time limit	Topstep Combine, FTMO Futures
Trade news releases	News allowed when funded	FTMO Futures; avoid MyFundedFutures Rapid and Pro funded
Run algorithms	Automation allowed	FTMO Futures (no HFT); not Apex
Make most profit in a few big days	No evaluation consistency rule	Apex, MyFundedFutures Builder

Write your strategy's needs down first: trades per week, how long you hold, your largest normal drawdown, your platform, and whether you trade news or use automation. Then cross off every firm that fails one of them. Whatever is left is your shortlist. If Topstep is on it, our plain-English Topstep explainer shows how its Combine, Express Funded and Live stages work. If no evaluation suits you at all, an instant funded account skips the test, at about three to four times the price.

Once you have bought an evaluation, the job changes from choosing to executing: follow our step-by-step plan for passing a prop firm challenge.

Frequently asked questions

Sources

1. Topstep: 2025 trader performance statistics
2. Topstep: pricing, activation and resets
3. Topstep: payout policy
4. Apex: evaluation fees and 30-day access
5. MyFundedFutures: Builder plan rules
6. FTMO Futures: Growth and Pro comparison table
7. NFA BASIC registration search