One aspect that often poses a challenge is the cost associated with joining prop trading firms, especially for traders venturing with 100K accounts. This article sifts through the financial layers to list the top five futures prop trading firms, emphasizing affordability for maintaining 100K accounts with 2-step challenges. These rankings are based on standard pricing, excluding any temporary discounts, as discounts may fluctuate over time, but the standard price offers a more accurate benchmark for comparing affordability.
Significance of Pricing Structure in Futures Prop Trading Firms
In the trading world, the pricing structure of a firm determines the accessibility of the platform for various traders. Affordability in futures prop trading firms lowers the entry barrier for new traders, facilitates access to larger capital, and may reduce financial stress, allowing traders to focus more on strategy and performance. Moreover, for prop traders, especially those managing 100K accounts, budgeting extends beyond personal finances, encompassing trading fees, potential profit splits, and the cost of additional services. Therefore , a firm's affordability is a key component in a trader's decision-making process, directly impacting their potential for profit and longevity.
Below, we highlight the five most cost-efficient Futures Prop Trading firms for traders specifically seeking 100K account sizes and 2-step challenges:
#1 Elite Trader Funding: $75/month
Starting with the most budget-friendly option, Elite Trader Funding is a US-based prop trading firm, offering a 100K account at $75 per month with an $80 per month activation fee. Members benefit from professional trading platforms like NinjaTrader, Tradovate, TradingView, and Rithmic. Additionally, the firm supports trading in markets like CBOT, COMEX, CME Group, and NYMEX. They offer several evaluation options, retaining 90% of all profits after the first $12,500 earned. Their evaluations range from a 10K to a 300K evaluation, each with different terms regarding max positions, profit targets, and trailing drawdowns. Moreover, they offer a wide range of trading instruments across various asset classes including equity futures, interest rate futures, agriculture, currency futures, cryptocurrency futures, and metals.
#2 Apex Trader Funding: $137/month
Apex Trader Funding, based in the United States, offers a platform for traders via Rithmic and Tradovate. Apex Trader Funding positions itself in the affordability spectrum with a $137 monthly fee. However, there is an $85/month activation fee or a one-time activation fee of $220 involved. Apex Trader Funding offers a funded trader program where individuals can receive 100% of the first $25,000 per account and 90% beyond that, with two payouts per month. The program allows qualification in as little as 7 days and provides real-time data, simple risk management rules, and the ability to trade full-sized contracts in evaluations or funded accounts. There are no daily drawdowns, and trading is allowed on holidays and during news announcements. They offer multiple funding plans with starting capital ranging from $25,000 to $250,000, each with different contract sizes, profit goals, and trailing thresholds.
#3 My Funded Futures: $200/month
My Funded Futures is a proprietary trading firm based in the United States and has been in business from 2023. At $200/month, My Funded Futures presents a middle-ground solution with a one-time activation fee of $149. The firm operates on platforms like Rithmic and Tradovate. They offer a wide range of trading instruments across various asset classes including equity futures, interest rate futures, currency futures, agricultural futures, energy futures, metal futures, micro futures, and cryptocurrencies. The firm invites traders to demonstrate their trading skills and get funded within a very short period, sometimes as quickly as one trading day. It offers a profit-sharing model where the first $10,000 of profit is entirely the trader's to keep, with a 90% share of the profits thereafter. This firm is focused on futures trading, and along with their sister company, My Funded FX, has, over time, garnered a community of over 50,000 active traders with a total pay-out exceeding $10,000,000.
#4 TradeDay: $275/month
TradeDay, headed by CEO James Thorpe, is a US-based proprietary trading firm founded in 2020 and is registered in Illinois, USA. The company also maintains a presence in the UK. TradeDay, with its $275 monthly fee and no activation, approaches the higher end of the affordable spectrum. They operate on platforms such as Tradovate, NinjaTrader, TradingView, and Jigsaw, collaborating with broker CME Group. In addition to their 100K account, they have a one-step challenge priced for a 150K account size, offering a 90% profit split. TradeDay allows traders to enter live markets immediately upon successful evaluation, without imposing any setup fees. The company calculates its trailing drawdown limit based on end-of-day balances, rather than intraday balances, and imposes no restrictions or requirements on withdrawals. Additionally, TradeDay provides an extensive array of resources, including institutional-grade research, live market commentary, daily morning meetings, and complimentary coursework.
#5 Earn2Trade: $315/month
Down in the list is Earn2Trade, a proprietary trading firm based in the USA, offering a $100K trading account for a monthly fee of $315 and a one-time activation fee of $139. Established in 2017, the company focuses on funding traders who specialize in Futures trading, including various CME (Chicago Mercantile Exchange) assets, such as Micros. Earn2Trade operates through Phillip Capital, EdgeClear, and Advantage Futures as their brokers. The range of instruments available for trading through Earn2Trade encompasses Equity Futures, Foreign Exchange Futures, Agricultural Futures, Energy Futures, Interest Rate Futures, and Metals Futures. Commissions are structured with a maximum of $0.54 per side for full-size contracts and $0.46 per side for micro contracts. Other fees include a Rithmic Platform Fee of $0.10 per side, NFA Fee of $0.02 per side, and platform-dependent Trading Platform fees. Additionally, Earn2Trade offers no leverage, adopting a one-to-one (1:1) approach, where the trading account balance serves as the sole buying power.
Summary
Affordability is a crucial pillar in the selection of a futures prop trading firm, and our list analyses the affordability of various futures prop trading firms for traders handling 100K accounts, pinpointing five firms that provide competitive pricing. Elite Trader Funding emerges as the most budget-friendly choice at $75/month. On the higher end of the affordability scale are TradeDay and Earn2Trade, charging $275 and $315 per month, respectively. Ultimately, the choice of a trading firm must align with individual financial strategies, trading goals, and desired market engagement levels. By considering these firms, traders invest in themselves, strategically aligning with platforms that are cost-effective. A careful balance between cost and value is the key to a sustainable trading career.
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