Looking for the cheapest prop firms with $5K funded accounts? We’ve done the homework. Whether you’re testing strategies or managing risk, these firms offer affordable challenges with low fees and solid profit splits. Here are the 5 best options for 2024. But if you prefer higher capital, we have a list of the cheapest $50K funded accounts and cheapest $100K funded accounts.
Cheapest Prop Firms Comparison:
| Prop Firm | Price | Max Drawdown | Profit Split | Key Feature |
|---|---|---|---|---|
| Maven Trading | $19 | 10% (Static) | 85% | Cheapest entry, fast payouts |
| The 5%ers | $39 | 10% | 50% | Trusted, no time limits |
| Goat Funded Trader | $40 | 10% | Up to 95% | Early withdrawals |
| Limitless Funding | $42 | 5% Static | Up to 90% | No daily drawdown |
| MyFundedFX | $50 | 8% | 75-90% | Unlimited trading days |
5 Cheapest Prop Firm with a $5K Funding Account
1. Maven
Maven Trading: Cheapest Entry Point
Price: $19 for $5K Challenge
Maven Trading is a distinguished prop trading firm that empowers traders by providing significant financial backing and a supportive trading environment. Since its establishment, Maven Trading has become a hub for traders worldwide, renowned for its straightforward evaluation process and the potential for traders to manage sizable funded accounts. In terms of price and reliability, Maven is at the top.
Features and Advantages of Maven Trading
- Funding Options: Traders can select from funding levels ranging from $2K to $100K.
- Account Growth: Maven Trading allows traders to scale their accounts based on performance metrics.
- Profit Share: Participants can retain up to 80% of their profits.
- Trading Rules: The firm maintains clear and straightforward trading rules.
- Trading Community: Maven supports a community on Discord for trader interaction and support.
- Trading Conditions: Minimal restrictions on trading strategies provide flexibility.
- Challenge Fees: Registration fees are refundable upon successful completion of challenges.
Maven Trading Evaluation Process
- 1-Step Challenge: Designed for experienced traders, this challenge requires meeting specific profit targets within defined risk parameters to quickly access a funded account.
- 2-Step Challenge: More comprehensive, this challenge includes a secondary verification phase to ensure consistent performance, ideal for those refining their strategies or new to trading.
Maven Standard $5K Challenge
Maven Trading’s $5,000 funded account challenge is strategically designed for traders who are ready to elevate their trading strategies within a controlled risk environment. This account allows traders to demonstrate their trading proficiency in a supportive and financially empowering setting. The
- Profit Share: 85%
- Profit Target: Set a profit target to achieve
- Daily Loss Limit: 5%
- Maximum Loss Limit: 10% (Static)
- Minimum Trading Days: 3 days
- Holding Positions Over the Weekend: Allowed
2. The 5%ers
The 5%ers: No Time Limits
Price: $39 for $5K High Stakes Challenge
The 5%ers, a standout trading platform, offers unique opportunities for traders of all experience levels. Ranked 5th out of 34 companies in the TU Rating, The 5%ers is rated on 100+ criteria and account opening process.
The 5%ers Features and Advantages
- Affordable Trading Capital: Access to trading capital through their affordable prop firm challenge.
- Favorable Trading Conditions: The platform is known for its high reputation and favorable trading conditions.
- Opportunity to Increase Profits: The 5%ers take 50% of a trader’s profits, providing a huge profit potential.
- Demo Accounts and Educational Programs: They provide easy-to-use demo accounts and in-depth educational programs to improve trading skills.
- 2-step evaluation challenge: To qualify, the Phase 1 profit target is 8% and Phase 2 is 5%, with a daily drawdown of 5% and a total drawdown of 10%.
The 5%ers 2-Step Evaluation
The 5%ers prides itself on offering the cheapest prop firm challenge in the trading industry through the High Stakes Challenge. For just $39, traders can access $5000 in trading capital through The 5%ers’ 2-step evaluation account. This is part of their two-step evaluation challenge. The 5%ers is known for its high reputation and favorable trading conditions, making it an attractive option for traders looking for high-quality opportunities.
The 5%ers 2-step evaluation Account Rules $5K:
- Phase 1 Profit Target: 8%
- Phase 2 Profit Target: 5%
- Daily Drawdown: 5%
- Equity Drawdown: 10%
- Minimum Profit Days: 3 calendar days
- Phase 1 Trading Period: No time limit
- Phase 2 Trading Period: No time limit
- Leverage: 1:100
3. MyFundedFX
MyFundedFX: Unlimited Trading Days
Price: $50 for $5K Challenge
MyFundedFX, founded by Matthew Leech, has become one of the leading prop firms in the Forex trading industry. The firm is committed to providing exceptional trading opportunities, including access to substantial capital of up to $600,000, with the potential to increase to $1.5 million.
MyFunded FX Features and Advantages
- Free Trading Style: There are no restrictions on trading styles. You’re free to trade a variety of types including scalping, hedging, swing trading, martingale strategies, grid trading, and more.
- Up to $600,000 Capital: Their Evaluation Program offers up to $600,000 in live simulated funds.
- No Trading Day Limits: Unlimited trading on all plan types and all phases.
- Scaling Plans: MyFundedFX offers a scaling plan that increases your initial account balance by 25% every 3 months assuming certain criteria are met.
- Use a Wide Range of Instruments: Over 175 assets including Forex, Indices, Crypto and Commodities.
- Refundable One-Time Fee: Affordable initial investment.
Two-Step Evaluation of MyFundedFX
MyFundedFX stands out as the prop firm with the most affordable offer through their two-step evaluation account with $5k capital. For just $50, this account allows traders to access significant capital with rules designed to support a variety of trading styles and strategies. This is a golden opportunity for traders looking to boost their trading career with minimal initial investment.
MyFundedFX Two-Step Evaluation Account Rules:
- Phase 1 Profit Target: 8%
- Phase 2 Profit Target: 5%
- Daily Drawdown: 5%
- Maximum Drawdown: 8%
- Minimum Trading Days: 1 day
- Phase 1 Trading Period: Unlimited
- Phase 2 Trading Period: Unlimited
- Leverage: 1:100
4. Limitless Funding
Limitless Funding: No Daily Drawdown Limits
Price: $42 for 5K 3-Step Evaluation
Limitless Funding is designed to provide traders with a variety of account options that cater to different trading styles and experience levels. Offering a range of features such as instant payouts, high payout splits, and flexible evaluation phases, Limitless Funding aims to be a top choice for traders seeking to manage significant capital with minimal restrictions.
Features and Advantages of Limitless Funding
- Payouts from Day 1: Traders can request their first withdrawal at any time, starting from day 1.
- Locked-In Gains: Even if a funded account is breached, traders can still withdraw their share of remaining gains.
- Static Drawdown: The maximum drawdown is locked at the starting balance, providing flexibility and security.
- Monthly Bonus: Traders who achieve a 10% gain after 3 months receive up to $1,000 monthly.
- Free Retry: Available after the third payout if the funded account is breached.
- Cashback: $3 cashback per lot traded during the evaluation phase.
3-Step Evaluation Account
One of the standout offers from Limitless Funding is the 3-Step Evaluation Account with no daily drawdown, tailored for novice traders who prefer a slower, more methodical approach. With this account, traders can improve their skills gradually while working towards managing more substantial capital. This account type is ideal for those who want to trade with minimal risk and ample growth potential.
5K 3-Step Evaluation Account Rules:
- Split Profit: Up to 90%
- Step 1 Equity Target: 5%
- Step 2 Equity Target: 5%
- Step 3 Equity Target: 5%
- Daily Drawdown: None
- Static Drawdown: 5%
- Minimum Trading Days: Unlimited
- Leverage: 1:10
- EAs and News Trading: Allowed
- Holding Positions Over the Weekend: Allowed
- Payout Period: Monthly
- Registration Fee: $42
Enter PFR15 to get a 15% Discount on all accounts
5. Goat Funded Trader
Goat Funded Trader: Flexible Withdrawals
Price: $40 for $5K Two-Step Challenge
Goat Funded Trader, based out of London, UK, has quickly made a name for itself as one of the most accessible prop firms for ambitious traders. Since its inception in 2021, Goat Funded Trader has been dedicated to providing substantial funding and flexible trading conditions, enabling traders to potentially manage up to $800,000 in simulated funding.
Goat Funded Trader Features and Benefits:
- Substantial Funding: Offers up to $800,000 in initial funding with the possibility to scale up to $2 million in simulated capital.
- Profit Withdrawal On Demand: Allows for early profit withdrawal – just three days after the first trade with a minimum of 3% profit.
- Flexible Profit Split Options: Initial 40% profit split available on demand, with up to 95% as traders progress and demonstrate trading expertise.
- Versatile Trading Instruments: Trade Forex, Metals, Indices, Stocks, and even Cryptocurrencies.
- Advanced Trading Platforms: Utilize popular platforms like MT4, complemented by in-house technology for seamless trading.
- Supportive Trading Conditions: No time limits on trading, with the opportunity to trade crypto CFDs over weekends.
- Enhanced Trading Tools: 0$ commission on indices and Crypto CFD, and access to MTJ software free for one month.
Evaluation Process
Goat Funded Trader offers a two-step evaluation process designed to facilitate the transition from novice to professional trader. This program encourages traders to achieve consistent gains with manageable targets and without the pressure of a time limit.
$5K Goat Funded Trader Evaluation Stage Account Rules:
- Phase 1 Profit Target: 8%
- Phase 2 Profit Target: 5%
- Daily Drawdown: 5%
- Maximum Drawdown: 10%
- Minimum Trading Days: None
- Trading Period: Unlimited
- Leverage: 1:100
Factors to Consider When Choosing a Cheap Prop Firm
- Fees: Find the lowest cost for your budget.
- Profit Splits: Aim for firms offering 80% or more.
- Drawdown Rules: Look for static drawdown or flexible daily limits.
- Trading Conditions: Verify if holding over weekends, news trading, or EAs are allowed.
- Support: A strong community or live support can make a huge difference.
Conclusion
For traders seeking the cheapest prop firms, Maven, The 5%ers, Goat Funded Trader, Limitless Funding, and MyFundedFX offer unbeatable value at $5K funding accounts. Each has unique strengths, from Maven’s ultra-low $19 entry to Limitless Funding’s no daily drawdown limits.
Pick the firm that fits your trading style, budget, and profit goals, and take your trading to the next level.
