Trade forex with funded capital
ExploreForex is where the retail prop challenge model started, so forex traders have the widest choice of firms. It also means the differences are in the details. Splits of 80% to 90% are now standard, so what separates firms is the drawdown model, how the daily loss limit is measured, what happens around news, whether you can hold over the weekend, and how payouts work.
This guide compares 9 prop firms that offer forex, using each firm's own website. We checked every rule and price on October 16, 2026, at a comparable $50,000 account where the firm sells one. Where a figure was not shown on the firm's public pages, we say so and you should check the official site. For the wider field, see our roundup of the top prop firms of 2026. New to the market itself? Start with what is forex trading, then how to trade forex and what is a pip.
Quick answer: There is no single best forex prop firm. In our October 2026 check, FTMO has the longest track record, FTMO and FundedNext offer 10% static drawdown on their 2-step plans, The5ers is cheapest to start, and Velotrade suits news traders who want forex, crypto, stocks and commodities on one account.
Forex prop firms key facts
| Item | Detail (checked October 16, 2026) |
|---|---|
| Firms compared | FTMO, The5ers, FundedNext, FundingPips, E8 Markets, BrightFunded, Goat Funded Trader, Alpha Capital, Velotrade |
| Typical $50K 2-step price | About $277 to $420 (list prices before promo codes) |
| Typical daily loss limit | 3% to 5% |
| Typical max loss | 8% to 10% static on 2-step plans; trailing or dynamic on many 1-step plans |
| Typical base split | 80%, with 90% to 100% via scaling or a paid add-on |
| Typical forex leverage | Up to 1:100 at most firms; 1:30 on swing variants |
| News trading | Usually allowed in the evaluation, restricted on funded accounts at most firms |
| Firms left out | DNA Funded (new orders paused), MyFundedFX (closed February 2026) |
Highlights of this article
- FTMO has the longest operating history (since 2015) and a 10% static max loss on its 2-Step, but its 1-Step uses an end-of-day trailing max loss and a 50% consistency rule
- FundedNext's Stellar 2-Step is labelled static drawdown with 5% daily and 10% max loss, but funded traders keep only 40% of profit from trades around high-impact news
- The5ers, FundingPips and Alpha Capital are the cheapest entry points, with small accounts from about $19 to $37
- Velotrade allows news trading and weekend holding on every plan, uses static drawdown everywhere, and charges 0.004% per side on forex, but its cheapest plan has a tight 3% max loss
- Read the funded-account rules, not just the evaluation rules: most news and weekend restrictions only start once you are funded
What to look for in a forex prop firm
Most forex prop firm lists rank by split percentage. That is the wrong primary variable, because almost every firm in this guide starts at 80%. These 5 factors matter more for forex traders.
1) Drawdown model
A static max loss is fixed from your starting balance and never moves. A trailing or dynamic max loss rises as you make profit, so a winning run followed by a normal pullback can breach it. End-of-day trailing only updates at the daily reset, which is gentler than tick-by-tick trailing, where every intraday equity peak raises the floor. See EOD trailing vs tick-by-tick drawdown explained for the mechanics.
In this comparison, 2-step plans are mostly static, while several 1-step plans trail: FTMO's 1-Step trails at the end of each day, and E8 One uses a dynamic drawdown.
2) How the daily loss limit is measured
Two firms can both say "5% daily loss" and behave differently. FTMO sets the limit from your balance at midnight CE(S)T. Velotrade sets it from the higher of your balance or equity at 00:30 UTC, so floating profit you carry through the reset raises the floor for the next day. If you hold positions overnight, check which base the firm uses.
3) News trading policy
Forex moves hardest around FOMC decisions, CPI, non-farm payrolls and central bank meetings, and bid-ask spreads on major pairs tend to widen around these releases. Most firms in this guide allow news trading during the evaluation but restrict it on funded accounts, either by banning trades a few minutes either side of the release or by deducting the profit. If your strategy trades the active market hours around releases, or uses session windows like ICT trading kill zones, this rule matters more than the split. You can check which sessions overlap with our market sessions tool.
4) Weekend and overnight holding
Swing traders need to hold through the Friday close. Some firms allow it on every account, some only on a swing variant with lower leverage, and some charge an add-on on funded accounts.
5) Consistency rule and payout terms
A consistency rule caps how much of your profit can come from one day, typically 30% to 50%. It usually blocks a payout rather than failing the account, but it can delay your money. Also compare when the first payout is allowed and how often you can withdraw after that.
The best forex prop firms in 2026
1) FTMO, best track record
Plans: 2-Step (Standard or Swing), 1-Step, and an Instant account
$50K price: €345 for the 2-Step (refundable with the first reward), €319 for the 1-Step (not refundable)
Drawdown: 2-Step uses a 10% static max loss. 1-Step uses a 10% end-of-day trailing max loss.
Daily loss: 5% on the 2-Step, 3% on the 1-Step, both set from your balance at midnight CE(S)T
Split: Up to 90%
News and weekend: No restriction during the evaluation. On funded Standard accounts, trading around selected news and holding over the weekend are restricted. Swing accounts have neither restriction.
Platforms: MT4, MT5, cTrader and TradingView
Leverage: Up to 1:100 per FTMO's site; check the official site for your account type
FTMO is the reference point for forex prop trading. It has operated since 2015, serves more than 140 countries, and publishes detailed trading objectives with worked examples for every rule.
The 2-Step is the stronger forex product: a 10% static max loss, a 5% daily loss, no consistency rule on the pricing table, and a refundable fee. The 1-Step is cheaper but stricter: a 3% daily loss, an end-of-day trailing max loss, and a Consistency rule (from October 12, 2026) that requires your best day to be no more than 50% of total profit before a payout.
Trade-offs:
- Standard funded accounts restrict news trading and weekend holding; you need the Swing type to avoid both
- The 1-Step trails and carries a consistency rule
- Prices are shown in EUR by default
For more detail, see the FTMO review 2026 and FTMO vs Velotrade.
2) FundedNext, best static drawdown on a 2-step
Plans: Stellar 2-Step, Stellar 1-Step, Stellar Lite, Stellar Instant
$50K price: $299.99 for the Stellar 2-Step as shown to our region; check the official site for yours
Drawdown: Static, labelled as such on the plan card. 10% max loss.
Daily loss: 5%
Split: 80%, with a paid Lifetime Reward add-on for 95%
Payouts: First withdrawal after 21 days, then every 14 days. Fee refunded with the first reward.
News and weekend: News trading allowed in the evaluation. On funded accounts you keep 40% of profit from news trades. A 3% max risk rule applies.
Platforms: MT4, MT5, cTrader and Match-Trader
FundedNext's Stellar 2-Step is one of the clearest forex products in this guide: 8% and 5% targets, a 5% daily loss, a 10% static max loss, and no consistency rule shown for this plan. It also supports four platforms, which helps if you already have a MetaTrader or cTrader workflow.
Trade-offs:
- Funded news profits are cut to 40%
- A 3% max risk per trade applies at all times
- The first withdrawal comes later than at several rivals (21 days)
For a full side by side, see FundedNext vs Velotrade and the FundedNext review 2026.
3) The5ers, lowest cost to start
Plans: High Stakes (2-step), Hyper Growth (1-step), Bootcamp (3-step)
$50K price: $279 for High Stakes Classic. Smaller accounts start at $19 for $2,500.
Drawdown: 8% max loss at $50K and $100K, 10% on the smaller High Stakes sizes; check the official site for how the limit is calculated
Daily loss: 4% at $50K, 5% on smaller sizes
Split: 80%, rising to 100% as the account scales
Payouts: First payout 14 days after funding, then every 2 weeks
News and weekend: Overnight and weekend holding allowed. No new orders 2 minutes before or after high-impact news.
Platforms: MT5
Leverage: 1:100
The5ers has funded traders since 2016 and is a forex-first firm. High Stakes is its main 2-step plan, with 3 minimum profitable days per phase and a scaling plan that raises the split to 100% at higher balances.
Its main appeal for newer forex traders is cost: you can start on a $2,500 or $5,000 account for a small fee and learn the rules before buying a larger one.
Trade-offs:
- MT5 only
- Larger accounts get tighter limits (4% daily, 8% max)
- A short news window applies
See The5ers review and The5ers vs Velotrade.
4) FundingPips, flexible payout cycles
Plans: 2 Step Standard, 2 Step Pro, 2 Step Flex, 1 Step, Zero
Price: From $33; the homepage shows $466 for a $100K 2 Step Pro. Check the official site for $50K pricing.
Drawdown: 10% max loss on 2 Step Standard
Daily loss: 3% or 5% on 2 Step Standard
Split: 80% bi-weekly, or 100% monthly with a 35% consistency rule and 7 profitable days
News and weekend: Both allowed in the evaluation. On funded Master accounts, no trades 5 minutes before or after high-impact news (profits deducted), and holding overnight or over the weekend needs a 10% Swing add-on.
Platforms: Three platforms; check the official site
Leverage: FX 1:100 on standard accounts, 1:30 on swing and swap-free
FundingPips lets you choose a payout cycle at purchase: bi-weekly at 80%, or monthly at 100% with a consistency rule. That suits traders who want to trade off a lower split against fewer conditions.
Trade-offs:
- Funded news trading is restricted and news profits are deducted
- Weekend holding on funded accounts costs extra
- Full pricing sits behind the checkout
See the FundingPips review and FundingPips vs Velotrade.
5) E8 Markets, fastest first payout
Plans: E8 One, E8 Pro, E8 Signature
$50K price: $288 list for E8 One (a 30% promo was running at the time of our check)
Drawdown: E8 One uses a 6% dynamic drawdown (other sizes configurable). E8 Pro is marketed as static drawdown with daily payouts.
Daily loss: 4% on a $100K E8 One
Split: 80% on the default configuration
Payouts: First payout in as little as 3 days on E8 One
Consistency: 40% on E8 One funded accounts
Platforms: MT5, cTrader, TradeLocker, Match-Trader and E8 Terminal
News and weekend: Check the official site
E8 Markets is a US-based firm with a configurable 1-step product. You can change the drawdown size and split at checkout, which changes the price. It suits traders who want a fast first payout and can work within a dynamic drawdown.
Trade-offs:
- The default E8 One drawdown moves with profits
- A 40% consistency rule applies at payout
- News and weekend rules vary by product
See the E8 Markets review and E8 Markets vs Velotrade.
6) BrightFunded, no consistency rule on any plan
Plans: 1 Step, 2-Step Bright, 2-Step Classic
$50K price: €277 for the 2-Step Bright (list price before promo codes)
Drawdown: 8% max total loss on the 2-Step Bright; check the official site for whether your plan is static or trailing
Daily loss: 4%
Split: Up to 90% (90% is a paid add-on)
News and weekend: 5-minute news restriction listed on the plan card
Platforms: Three platforms; check the official site
Payouts: Advertises payouts within 24 hours; weekly payouts as an add-on
BrightFunded lists no consistency rules and an unlimited trading period on all plans, plus an unlimited scaling plan. It is a sensible pick for forex traders who dislike best-day caps.
Trade-offs:
- Base split is 80%; 90% costs extra
- Prices are in EUR
- 5-minute news window
See BrightFunded vs Velotrade and the BrightFunded review 2026.
7) Goat Funded Trader, refundable fee and wide platform choice
Plans: 1 step, 2 step (GOAT and Standard), Instant
$50K price: $308 list for the 2 step GOAT (a promo price of $169 was shown at the time of our check)
Drawdown: 10% max loss on 2 step GOAT; check the official site for the model
Daily loss: 4%
Split: 80%, with a 100% add-on
Payouts: Bi-weekly. The fee is 100% refundable.
News and weekend: Both listed as allowed; check the official site for limits on funded news profits
Platforms: MT5, cTrader, TradeLocker and Match-Trader
Leverage: Up to 1:100
Goat Funded Trader offers four platforms, a refundable one-time fee and scaling up to $2M. The 2 step GOAT plan has 8% and 6% targets with 4% daily and 10% max loss.
Trade-offs:
- Instant accounts carry a 15% consistency rule
- Promo pricing changes often, so compare list prices
- Funded news profit rules need checking in the help centre
See the Goat Funded Trader review and Goat Funded Trader vs Velotrade.
8) Alpha Capital, static 2-step with a swing variant
Plans: Alpha Pro (2-step, 6%, 8% or 10% variants), Alpha One (1-step), Alpha Swing, Alpha Direct
$50K price: $297 for Alpha Pro 8%
Drawdown: Alpha Pro is static (8% max on the 8% variant). Alpha One trails.
Daily loss: 4% on Alpha Pro 8%; 5% on Swing
Split: 80%, or 90% as an add-on on eligible plans
Payouts: Bi-weekly or on-demand; on-demand adds a 40% best-day rule
News and weekend: Qualified accounts have high-impact news restrictions; the Swing variant is designed for overnight and weekend holds
Platforms: MT5, cTrader, TradeLocker and DXtrade
Leverage: 1:100 on Alpha Pro, 1:30 on Swing
Alpha Capital is a UK-based firm with a static 2-step (Alpha Pro) and a dedicated Swing variant. A max risk per asset rule applies to qualified accounts (3% under $50K, 2% at $50K and above), and it does not accept US residents.
Trade-offs:
- Max risk per asset rule on funded accounts
- On-demand payouts carry a 40% best-day rule
- Not available to US residents
9) Velotrade, best for news traders and multi-asset coverage
Plans: PRO 1-Step, CLASSIC 1-Step, CLASSIC 2-Step
$50K price: $305 for PRO 1-Step, $419 for CLASSIC 2-Step, $543 for CLASSIC 1-Step. Entry from $40 for a $5,000 PRO account.
Drawdown: Static on every plan: 3% (PRO), 7% (CLASSIC 1-Step), 10% (CLASSIC 2-Step)
Daily loss: 3% (PRO), 4% (CLASSIC 1-Step), 5% (CLASSIC 2-Step), set from the higher of balance or equity at 00:30 UTC
Split: 80%, with a paid 90% add-on
Payouts: First payout after 14 days, weekly after that, in USDC or USDT
News and weekend: News trading allowed. Weekend holding allowed on forex (single stocks have their own holding rules).
Platform: DXtrade
Forex: 39 pairs (7 majors, 21 minors, 11 exotics), 0.004% commission per side of notional, trading 24 hours a day, 5 days a week
Leverage: 50x majors, 30x minors, 20x exotics in the challenge (30x, 20x and 10x on funded accounts)
Velotrade is a multi-asset prop firm that runs simulated accounts. It is included because its forex conditions are competitive and because it puts forex, 24/7 crypto, stocks, index ETFs (SPY, QQQ, IWM) and commodities such as gold on one funded account under one rule set.
For forex traders specifically, the main differences are the rules: static drawdown on every plan, no consistency rule, no max risk per trade, and news trading allowed without a funded-account news window. Forex costs are simple to model: 0.004% of notional per side, so a $100,000 position costs $4 to open and $4 to close, plus an overnight swap of 0.05% of notional per night (triple on Wednesday).
Trade-offs, to be fair:
- The cheapest plan (PRO) has a tight 3% max loss, and a $50K CLASSIC 2-Step costs more than most rivals' 2-step plans
- The daily limit is set from the higher of balance or equity, so floating profit carried through 00:30 UTC raises the floor
- DXtrade only, with no MetaTrader option
- Funded leverage is lower than challenge leverage
See the forex instruments page for every pair, or compare challenge options.
Forex prop firm comparison table
All figures from each firm's official site, checked October 16, 2026, at a $50K account unless noted. List prices before promo codes.
| Firm | Plan compared | $50K price | Daily loss | Max loss and model | Base split | Funded news rule | Weekend holding | Platforms |
|---|---|---|---|---|---|---|---|---|
| FTMO | 2-Step | €345 | 5% | 10% static | Up to 90% | Restricted on Standard; none on Swing | Swing only | MT4, MT5, cTrader, TradingView |
| FundedNext | Stellar 2-Step | $299.99 (our region) | 5% | 10% static | 80% | 40% of news profit kept | Check site | MT4, MT5, cTrader, Match-Trader |
| The5ers | High Stakes Classic | $279 | 4% | 8% | 80% to 100% | No orders 2 min either side | Allowed | MT5 |
| FundingPips | 2 Step Standard | Check site | 3% or 5% | 10% | 80% bi-weekly | No trades 5 min either side | 10% add-on | Check site |
| E8 Markets | E8 One | $288 | 4% | 6% dynamic | 80% | Check site | Check site | MT5, cTrader, TradeLocker, Match-Trader |
| BrightFunded | 2-Step Bright | €277 | 4% | 8% | 80% (90% add-on) | 5-min restriction | Check site | Check site |
| Goat Funded Trader | 2 step GOAT | $308 | 4% | 10% | 80% (100% add-on) | Allowed, check limits | Allowed | MT5, cTrader, TradeLocker, Match-Trader |
| Alpha Capital | Alpha Pro 8% | $297 | 4% | 8% static | 80% (90% add-on) | High-impact restrictions | Swing variant | MT5, cTrader, TradeLocker, DXtrade |
| Velotrade | CLASSIC 2-Step | $419 | 5% | 10% static | 80% (90% add-on) | Allowed | Allowed | DXtrade |
| Velotrade | PRO 1-Step | $305 | 3% | 3% static | 80% (90% add-on) | Allowed | Allowed | DXtrade |
Best forex prop firm by trader type
| If you want | Best pick | Why |
|---|---|---|
| Lowest cost | The5ers | High Stakes from $19 at $2,500 and $279 at $50K; FundingPips and Alpha Capital are close behind |
| Best drawdown model | FundedNext Stellar 2-Step or FTMO 2-Step | 10% static max loss with a 5% daily loss; Velotrade CLASSIC 2-Step matches the limits at a higher price |
| Best for news traders | Velotrade | News trading allowed on every plan with no funded news window; FTMO Swing is the strongest forex-first alternative |
| Best for swing traders | FTMO Swing | No news or weekend restrictions on the funded account; Alpha Swing is a cheaper option with 1:30 leverage |
| Best for beginners | The5ers | Small, cheap starting accounts and 14-day payout cycles; FTMO's unlimited free trial is a good way to practise first |
| Longest track record | FTMO | Operating since 2015 with detailed public rules |
| Forex plus crypto and stocks on one account | Velotrade | 39 forex pairs alongside 24/7 crypto, stocks, index ETFs and commodities on one DXtrade account |
How to choose the right forex prop firm
If payout credibility is your top priority: FTMO has the longest operating history and the most detailed public rules. Choose the 2-Step for static drawdown, and the Swing type if you hold over weekends or trade news.
If you want a wide drawdown on a 2-step: FundedNext Stellar 2-Step and FTMO 2-Step both give 10% static. Check FundedNext's funded news rule first if you trade releases.
If cost is the main constraint: The5ers and FundingPips have the cheapest small accounts. Start small, learn the rules, then size up.
If you trade the news: most firms restrict it once you are funded. Velotrade and FTMO Swing are the clearest options here.
If you trade institutional-style levels: strategies built on supply and demand zones or ICT order blocks need room for a stop beyond the zone, so favour a static drawdown and no news restriction.
If you also trade crypto, stocks or commodities: Velotrade covers all of them on one account. For the crypto side, see best crypto prop firms 2026 and best prop firms for crypto traders in 2026. US-based traders should also note that MT5 access is restricted in the US.
Whichever firm you choose, it sets the limits and your sizing decides whether you stay inside them. Work out each trade in lots from your risk and stop with the forex lot size calculator, check what a pip is worth on the pair with the pip value calculator, and see the dollar result after commission and swap with the forex profit calculator. Run those numbers against the daily loss limit of any firm on this list before you buy a challenge.
Firms we left out
- DNA Funded: featured in earlier versions of this guide. On October 16, 2026 its homepage said new orders are paused while MT5 accounts migrate to TradeLocker. We will review it again once sales reopen. See the DNA Funded review for its rules.
- MyFundedFX: closed in February 2026 and is no longer an option.
Challenge conditions, prices and rule sets change often, and many firms run permanent promo codes. Always read the firm's current rules before you buy. This guide is educational and is not financial advice.
Sources
All pages checked October 16, 2026.
- FTMO, Trading Objectives and FTMO pricing
- FundedNext, CFD challenges
- The5ers, High Stakes program
- FundingPips, Trading Objectives
- E8 Markets, compare funded accounts
- BrightFunded, challenge plans
- Goat Funded Trader, account picker
- Alpha Capital, evaluations
- DNA Funded, homepage notice
- Velotrade challenges, rules, FAQ and forex instruments
Frequently Asked Questions
About the author
Vittorio De Angelis
Executive Chairman
Former equity-derivatives trader at JP Morgan, Dresdner Kleinwort and Bank of America in London. Later Head of Brokerage at a global broker in Hong Kong.
Velotrade was founded in Hong Kong in 2016 by a team from JP Morgan, Dresdner Kleinwort and Bank of America, has paid out over $2.5 billion to its trade-finance clients, and has been featured in Bloomberg, the Financial Times, the Wall Street Journal and on Nasdaq. Its prop trading evaluations are simulated and educational.
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