Introduction
Proprietary trading firms, often referred to as prop firms, are crucial for traders aiming to access substantial capital without significant initial investments. These cheapest prop firms not only offer significant funding but also enhance trader skills with educational resources, mentorship, and advanced tools. The $50K funding account is particularly popular as it provides an ideal balance of accessible capital and high-profit potential, opening new trading opportunities for experienced traders eager to advance their strategies.
What is a Prop Firm and How Does it Work?
Prop firms are businesses that allocate capital to traders, who can then trade with funds much larger than what they could typically afford on their own. In exchange, traders earn a percentage of the profits generated from these trades. This arrangement not only amplifies the potential for profit but also spreads the risk between the trader and the firm. Prop firms are valued not just for their financial backing but also for the comprehensive support they offer, which often includes access to professional trading software, real-time data, and educational content.
Prop Firm Rating Criteria
When selecting a prop firm, especially when looking for affordable options for a $50K funding account, several factors should be considered:
- Reputation and Reliability: Assess the firm’s track record, trader testimonials, and industry reputation.
- Profit Sharing Structure: Review how profits are distributed between the firm and its traders.
- Support and Resources: Consider whether the firm offers tools like analytics, market insights, and continuous training.
- Terms and Conditions: Understand the specific requirements such as maximum drawdown limits, profit targets, and evaluation processes.
- Types of Instruments Offered: Ensure that the firm allows trading in the instruments you are most interested in.
Benefits of Having a $50K Funding Account:
- Amplified Market Access: A larger capital base allows traders to participate in markets and trading strategies that require higher capital, enhancing potential returns.
- Reduced Personal Risk: Traders can engage in high-stakes trading without the anxiety of risking their own capital.
- Learning and Growth Opportunities: Even experienced traders benefit from the ability to refine strategies and techniques with a substantial capital base.
- Potential for Higher Profits: Larger account sizes typically allow for more significant profit potential, assuming successful trading strategies.
6 Cheapest Prop Firm with a $50K Funding Accounts
1. Maven
Overview:
Established in November 2022 and based in Canada, Maven is a prop trading firm that quickly marked its presence in the industry with dynamic trading challenges and competitive trading conditions. Known for facilitating access to substantial capital, Maven caters to traders of all levels, focusing on fostering growth and profitability through its structured programs.
Location:
Canada
What Can You Trade:
- Forex
- Crypto
- Indices
- Commodities
Profit Share:
80%
Highlights:
- One-Step Evaluation Process: Streamlines the path to trading capital, requiring traders to meet an 8% profit target with a structured evaluation.
- Competitive Commission Rates: Charges $4 per round lot, balancing cost with access to high-quality trading conditions.
- Equity-Based Leverage: Allows flexibility in trading strategies with an emphasis on risk management.
Summary:
Maven offers its $50K funding account at $190, designed to attract serious traders who are ready to take their trading to the next level. The firm stands out with its 80% profit sharing and one-step evaluation process, which simplifies the pathway to substantial earnings. With a strong focus on ethical trading practices and trader education, Maven is committed to the success of its traders, providing them with the necessary tools and conditions to succeed in a competitive market.
Pros:
- High profit sharing.
- Offers 1-Step and 2-Step accounts.
- Supports a wide range of trading instruments through cTrader and Match Trader.
- Cheap and reliable
Cons:
- Newer to the market, which may require more time to establish a broader track record.
- Specific profit targets and risk parameters may not suit all trading styles.
2. Apex Trader Funding
Overview:
Established in January 2021 and based in the United States, Apex Trader Funding was founded by CEO Darrel Martin. The company utilizes Rithmic and Tradovate as brokers and offers the NinjaTrader platform. Apex Trader Funding aims to revolutionize the trader payout model, providing funding evaluations for futures markets. With a high Trust Pilot rating of 4.8, the firm caters to a global community, including traders from over 150 countries, and is known for its trader-friendly policies and high payout ratios.
Location:
United States
What Can You Trade:
- Equity Futures
- Interest Futures
- Currency Futures
- Agricultural Futures
- Energy Futures
- Metal Futures
- Micro Futures
- Cryptocurrencies
Profit Share:
- Receive 100% of the first $25,000 per account
- 90% beyond the initial $25,000
Highlights:
- Two Payouts per Month: Ensures timely and consistent profit distribution to traders.
- Trade Full-Sized Contracts: Allows trading full-sized and micro contract evaluations.
- No Daily Drawdowns: Provides flexibility in trading strategies without the fear of a single day’s loss wiping out progress.
- Trade on Holidays and During News: Offers the freedom to trade according to one’s own schedule, even on holidays and during economic news events.
Summary:
Apex Trader Funding offers its $50K funding account at $167, providing a cost-effective solution for traders. The firm offers unique advantages in the futures market by allowing traders to manage risks with no daily drawdowns and no limitations on contract sizes during evaluations. Its simple and trader-centric approach, coupled with the ability to trade during news and on holidays, makes it a preferred choice for traders looking for flexibility and high payout potential. The firm’s emphasis on simplicity in its evaluation process, coupled with the ability to trade on real-time data and multiple accounts, provides a robust platform for serious traders.
Pros:
- High payout options .
- Freedom to trade without restrictions on holidays and during news events.
- Simple and straightforward evaluation process.
Cons:
- Requires familiarity with the NinjaTrader platform, which might be a learning curve for some.
3. Topstep
Overview:
Topstep, led by founder Michael Patak, was established in January 2012 in the United States. The firm, initially known as Patak Trading Partners and later rebranded to TopstepTrader, offers the Trading Combine as a unique funding opportunity for retail traders. Topstep allows traders to operate without risking their savings by providing them with live capital for trading. It focuses on futures trading only and does not permit trading stocks or options. With an ethos centered around trader development and success without risk, Topstep has funded thousands of traders and paid out millions in profits, positioning itself as a leader in the prop trading industry.
Location:
United States
What Can You Trade:
- E-Mini S&P 500 (ES)
- E-Mini NASDAQ 100 (NQ)
- E-Mini Russell 2000 (RTY)
- Mini-DOW (YM)
- Micro S&P 500 (MES)
- Micro NASDAQ 100 (MNQ)
- Crude Oil (CL)
- Gold (GC)
Profit Share:
90%
Highlights:
- Contract Limits Based on Account Size: Offers a balance-based trading model where traders can handle up to 5 contracts on a $50k Trading Combine, reflecting a more responsible trading approach without traditional leverage.
- Daily Payouts: Traders can request payouts daily, enhancing the flexibility of accessing profits.
- Structured Evaluation Process: One-step evaluation to qualify for funding emphasizes performance over time rather than immediate gains.
Summary:
Topstep provides a competitively priced $50K funding account at $49 per month. This prop firm is ideal for traders who wish to develop their trading skills in a risk-free environment using live capital. Topstep’s unique approach does not involve traditional leverage but allows trading up to 5 contracts based on the account size, focusing on fostering sustainable trading behaviors. The firm is recognized for its commitment to trader success and professional development, making it a valuable platform for aspiring and experienced futures traders alike.
Pros:
- Provides a real trading environment without personal financial risk.
- Supports a wide range of futures instruments.
- Offers daily payouts.
Cons:
- The fixed contract limits may restrict traders who prefer higher leverage and bigger positions.
4. My Funded Futures
Overview:
My Funded Futures, established in November 2023 and based in the United States, is a proprietary trading firm founded by CEO Matthew Leech. It quickly gained recognition for integrating advanced platforms such as NinjaTrader, Rithmic, and Tradovate, appealing to a broad range of traders. The firm offers account sizes from $50,000 to $150,000 and simplifies access to capital through a straightforward, single-step evaluation process with clear profit targets and well-defined risk management protocols.
Location:
United States
What Can You Trade:
- Equity Indices
- Foreign Exchange Futures
- Commodities
- Metals
Profit Share:
90%
Highlights:
- Streamlined Evaluation Process: Offers a single-step evaluation, streamlining the path to funding.
- Diverse Trading Instruments: Provides access to a wide range of trading options across various exchanges.
- Flexible Leverage Options: Tailors leverage settings to suit different trading strategies and risk preferences.
Summary:
Offered at a price of $80 for a $50K account, My Funded Futures provides a competitive edge in the proprietary trading space with a focus on high profit splits and advanced trading platforms. This firm supports traders with a 90% profit share and offers a broad selection of instruments across major exchanges, including commodities and foreign exchange futures. With its single-step evaluation process and absence of daily drawdown restrictions, My Funded Futures caters to traders seeking growth and flexibility in their trading careers.
Pros:
- High profit share.
- Access to multiple advanced trading platforms.
- A vast range of tradable instruments across global exchanges.
Cons:
- Specific leverage settings may not suit every trader’s needs or strategies.
5. TradeDay
Overview:
Founded in January 2020 and headquartered in the United States, TradeDay, under the leadership of CEO James Thorpe, is a notable proprietary trading firm specializing exclusively in futures products. It caters to a broad range of traders by offering account sizes from $10,000 to $250,000. TradeDay employs a straightforward, single-step evaluation process to facilitate quick access to funding, with tailored profit targets and maximum total drawdowns. The firm leverages platforms such as Tradovate, NinjaTrader, TradingView, and Jigsaw, and provides access to futures on major exchanges like CME, CBOT, NYMEX, and COMEX.
Location:
United States
What Can You Trade:
- Futures products only, traded on major exchanges including CME, CBOT, NYMEX, and COMEX.
Profit Share:
- 90%
Highlights:
- Diverse Account Range: Supports traders of all experience levels and capital commitments.
- Single-Step Evaluation: Streamlines the funding process, making it easier for traders to qualify.
- Comprehensive Market Access: Provides trading opportunities across a variety of futures markets.
- Competitive Profit Sharing: A generous 90% profit split encourages traders to maximize their earnings.
Summary:
TradeDay offers a compelling proposition with its competitively priced $50K funding account at $132 after discount, highlighting its commitment to supporting futures traders. The firm stands out for its flexible account sizes, high profit split, and access to multiple trading platforms and major exchanges. This setup ensures that traders have all the tools necessary to succeed in the futures markets. With its clear, streamlined pathway to funding and a focus on futures, TradeDay aims to attract and nurture top trading talent.
Pros:
- High profit share motivates traders to strive for high earnings.
- Flexible account sizes ranging from $10,000 to $250,000 cater to various levels of trader commitment.
- Access to multiple advanced trading platforms.
- Specializes in futures markets, offering focused and expert trading experiences.
Cons:
- Limited to futures trading, not suitable for those interested in stocks, options, or other financial instruments.
- Relatively new in the market, which may be a concern for those looking for a firm with a longer established history.
6. FXIFY
Overview:
FXIFY operates out of the United Kingdom and was co-founded by Peter Brown and David Bhidey in April 2023. Known for utilizing the popular MT4 and MT5 trading platforms, the firm partners with FXPIG as its broker. FXIFY caters to a range of traders with account sizes from $15,000 to $400,000. It offers a unique three-step evaluation process, where traders must meet a series of profit targets—5% in each step—with maximum total drawdowns kept between 5% to 10%. This rigorous evaluation path ensures that only the most disciplined traders manage to progress. The firm offers over 300 trading instruments, including FX, metals, indices, and stocks, with varied leverage options to suit different risk profiles.
Location:
United Kingdom
What Can You Trade:
- FX (Forex)
- Metals
- Indices
- Stocks
Profit Share:
- 75%
Highlights:
- Rigorous 3-Step Evaluation: Tailored for traders who can consistently meet profit targets while managing a tight control on drawdowns.
- Broad Range of Trading Instruments: Offers access to over 300 trading instruments, enhancing trading opportunities.
- Customizable Leverage Options: Leverage tailored to asset classes, with options to adjust leverage on FX and gold during checkout.
- Attractive Profit Split: A high profit share of 75% rewards successful trading strategies and discipline.
Summary:
Offered at $2495 for a 3-Step $50K funding account, FXIFY stands out with its specialized three-step evaluation process designed for traders demonstrating consistent profitability and effective risk management. The firm’s commitment to providing advanced trading platforms and a diverse array of trading instruments supports its goal of fostering a supportive environment for trader growth and profitability. Based in the UK and led by experienced founders, FXIFY is poised to expand its influence in the global trading community.
Pros:
- Structured evaluation pathway emphasizes consistency and risk management.
- Extensive instrument availability caters to diverse trading preferences.
- Competitive profit sharing ratio motivates traders to achieve their targets.
- Access to industry-standard trading platforms MT4 and MT5.
Cons:
- The complex three-step evaluation process may be daunting for newer traders.
- Being recently established, it may still need to build its reputation and prove its reliability in the long term.
Conclusion
Choosing the right cheapest prop firms is crucial for traders aiming to maximize their potential with a $50K funding account. Firms like Maven, Apex Trader Funding, Topstep, My Funded Futures, TradeDay, and FXIFY offer unique advantages and competitive pricing, catering to different trading needs and styles. Each firm’s specific features—from risk management and profit sharing to evaluation processes and trading platforms—provide traders with the tools necessary for success in the financial markets.
These prop firms offer substantial opportunities for traders to expand their trading capabilities and achieve their financial goals. Traders are encouraged to consider their specific needs and preferences when selecting a prop firm to ensure the best fit for their trading style and career aspirations. Elevate your trading journey with a partner that not only funds but also fosters your growth in the global financial markets.
