5 Cheapest Prop Firms with $5K Funding Accounts in 2024

Prop trading firms have become a popular choice for traders looking to access more capital for trading. The importance of choosing the right prop firm is undeniable, especially for traders looking for the cheapest prop firms. In this context, the $5K funding account offers an attractive opportunity, balancing risk and potential profit. But if you prefer higher capital, we have a list of the cheapest $50K funded accounts and cheapest $100K funded accounts.

Cheapest Prop Firms in 2024:

  1. Maven Trading (from $19): Clear rules, fast payouts, community, 80% profit share (1 or 2-step).
  2. The 5%ers (from $39): Ideal for all levels, offers $5K with a 2-step evaluation.
  3. MyFundedFX (from $50): Trade various styles, access up to $600K with a 2-step evaluation.
  4. Limitless Funding (from $42):  Trade with no daily drawdown and scale your trading account with up to 90% profit split.
  5. Goat Funded Trader (from $40): Popular, access up to $800K with a supportive community.

5 Cheapest Prop Firm with a $5K Funding Account

1. Maven

Maven Trading: Cheap and Reliable with Fast Payouts

maven trading

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 5K account

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: Ideal Trading Platform for All Experience Levels

5%ers

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

image

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: An Ideal Choice for Traders in the Forex Industry

MyFundedFX

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

2-step evaluation 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: A Flexible Prop Firm with Diverse Account Options

limitless funding prop firm

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

limitless funding 3 step 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: Your Gateway to Extensive Trading Opportunities

goat funded trader cheap prop firm

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 5k account cheap

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



    Comparison and Analysis

    Maven Trading

    • At $19 and $65 for a two-stage challenge, Maven allows traders to improve their skills and earn more trading capital while enjoying lucrative profit sharing.

    The 5%ers

    • Known for its High Stakes Challenge program, The 5%ers offers a $5K funding account for a very affordable fee of just $39. This allows traders to access trading capital and increase profits with clear terms and trading education support.

    MyFundedFX

    • For $50, MyFundedFX offers a two-stage evaluation account that allows traders to get started with a low initial investment and the potential for substantial capital scaling.

    Limitless Funding

    • With diverse account options, Limitless Funding offers the 5K 3-Step Evaluation for a competitive fee of $42. Enjoy no daily drawdown limits and a supportive environment for gradual growth and success.

    Goat Funded Trader

    • Offering a two-stage evaluation account for just $40, Goat Funded Trader presents one of the most affordable options for traders seeking funding with a $5K capital.

    Factors to Consider When Choosing the Cheap Prop Firms:

      • Reputation and Reliability: Look for information on the reputation and reliability of the prop firm
      • Profit Sharing Structure: Look at how traders and the prop firm share profits.
      • Support and Resources: Does the prop firm provide analytical tools, market data, or training?
      • Terms and Conditions: Learn about terms and conditions, such as maximum drawdown and profit targets.
      • Types of Instruments Offered: Make sure the prop firm offers the trading instruments you want.

    Benefits of Having a $5K Funded Account:

      • Limited Risk: Smaller capital limits the amount of risk taken.
      • Learning Opportunities: Ideal for beginner traders who want to hone their skills without major financial risk.
      • Strategy Testing: Opportunity to test trading strategies with real but limited capital.
      • Growth Potential: Possibility to increase account size in case of successful trading.
      • Access to Larger Markets: Allows traders to operate in markets that may be out of reach with personal capital.


    Conclusion

    Choosing a prop firm with an affordable $5K funding account opens the door for traders to access wider markets with limited risk. The 5%ers, MyFundedFX, Limitless Funding, Maven Trading, and Goat Funded Trader offer programs designed to support a variety of trading styles with low entry fees, allowing traders to grow with the prop firm. With competitive profit sharing, no trading day limits, and strong community support, these prop firms bring significant added value to traders looking to advance their careers.

    Explore and consider the prop firms mentioned to find the platform that best suits your trading needs. Whether you’re a beginner or an experienced trader, these prop firms’ $5K funding accounts can be a strategic move to optimize your profit potential. For more information or guidance on choosing the right prop firm, contact us or visit our site to learn more about each firm and its services. Take your trading journey to the next level with a partner that supports your ambitions in the global financial markets.

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