How to Choose Your First Futures Prop Firm
Not all prop firms are created equal. Use this framework to find the right firm for your trading style, budget, and goals.
The Decision Framework
Choosing your first prop firm isn't about finding the "best" firm - it's about finding the best match for you. The perfect firm for an aggressive day trader will be terrible for a conservative swing trader.
Use these three core factors to narrow your options:
1. Budget
How much can you invest upfront?
2. Trading Style
How do you prefer to trade?
3. Experience
How long have you been trading?
Factor 1: Your Budget
The total cost to get funded varies dramatically between firms. Consider both the evaluation fee and activation fee (if any).
Budget Tier 1: Under $100 Total
Best For: Traders testing the waters, students, or those with limited capital.
Look For: Firms with $50-100 eval fees and $0 activation costs. Examples: MyFundedFutures ($77 total), Apex ($37-97 depending on promotion), Tradeify ($97 total).
✓ Advantage: Low risk if you fail, can retry multiple times affordably
Budget Tier 2: $100-$300 Total
Best For: Experienced traders ready to commit, those who value reputation.
Look For: Established firms with proven track records. Higher costs often come with better support, infrastructure, and payout reliability. Examples: Alpha Futures ($228 total), TopstepTrader, Earn2Trade.
✓ Advantage: More established firms, better infrastructure, proven payout history
💡 Budget Planning Tip
Budget for 2-3 attempts. Most traders don't pass their first evaluation. If you can afford $100, consider a $50 firm so you have two tries. If you can afford $300, a $100 firm gives you three attempts.
Factor 2: Your Trading Style
Your trading style should heavily influence which firm you choose. Drawdown rules, consistency requirements, and account size all matter differently depending on how you trade.
Day Traders & Scalpers
Your Needs:
- EOD drawdown (not trailing or static)
- Flexible or no consistency rules
- Fast execution platforms (Rithmic, NinjaTrader)
- News trading allowed
✓ Best Firms: MyFundedFutures, Alpha Futures, Tradeify (EOD variants)
Swing Traders
Your Needs:
- Trailing drawdown OK (locks in profits)
- No maximum hold time restrictions
- Larger drawdown buffer ($2,500+)
- Weekend holding allowed
✓ Best Firms: Apex Trader Funding, Tradeify, firms with trailing drawdown
Position Traders (Multi-Day Holds)
Your Needs:
- Large drawdown limits ($3,000-5,000)
- No consistency rules (big wins expected)
- Overnight and weekend holding
- Larger account sizes
✓ Best Firms: Apex (large accounts), established firms with flexible rules
Factor 3: Your Experience Level
Beginner (0-1 Year Trading)
If you're new to futures trading, prioritize learning over passing evaluations quickly.
- Start with static or EOD drawdown: Easier to understand than trailing
- Choose clear, transparent rules: Avoid firms with complex requirements
- Low budget tier ($50-100): You'll likely fail a few times while learning
- Good support matters: Look for firms with active Discord/Slack communities
Intermediate (1-3 Years Trading)
You understand your trading style and have a proven strategy. Now focus on matching firm rules to your approach.
- Match drawdown type to your style: EOD for day trading, trailing for swing
- Consider activation fees: Worth paying if you're confident in passing
- Focus on payout terms: Compare profit splits and payout frequency
- Platform matters: Ensure they support your preferred trading platform
Advanced (3+ Years Profitable Trading)
You have a proven track record. Prioritize profit splits, scaling plans, and firm reputation.
- Maximize profit split: Look for 90-100% splits or scaling programs
- Multiple accounts: Consider firms that allow funding multiple accounts
- Payout reliability is critical: Research payout histories and reviews
- Account size flexibility: Firms that offer larger accounts as you scale
Specific Recommendations by Profile
Budget-Conscious Day Trader
Profile: Limited capital, trades intraday only, needs flexibility
→ MyFundedFutures ($77 total, EOD drawdown, 50% consistency)
Beginner Learning the Ropes
Profile: New to prop trading, wants clear rules, affordable retries
→ Tradeify ($97 total, clear rules, beginner-friendly, active community)
Experienced Swing Trader
Profile: Holds positions 2-5 days, proven strategy, wants profit protection
→ Apex Trader Funding ($37-137, trailing drawdown, larger buffer, proven reputation)
Scalper Seeking Maximum Flexibility
Profile: Large intraday positions, needs EOD drawdown, no consistency limits
→ MyFundedFutures or Alpha Futures (EOD drawdown, flexible consistency)
Your Action Plan
Follow this simple process to make your decision:
- Define your budget: How much can you afford to invest (and potentially lose)?
- Identify your trading style: Day trader, swing trader, or position trader?
- Assess your experience: Be honest about your skill level and track record
- Compare 2-3 firms: Use our comparison table to narrow down options
- Read reviews: Check trader experiences with payouts and support
- Start with one evaluation: Don't buy multiple at once until you pass your first
Compare All Prop Firms
Use our detailed comparison table to evaluate firms side-by-side based on all the factors that matter.
Compare Prop Firms