Most searches for the best prop firm for options trading run into the same wall: the retail prop challenge industry was built around forex, futures, and crypto, not traditional equity options. Puts and calls on individual stocks are almost entirely absent from the funded account challenge model.
That does not mean derivatives traders have no good paths. It means you need to understand what markets are actually available, and which firm most closely matches how you trade.
This guide covers the realistic choices for options and derivatives traders across futures, crypto perpetuals, and multi-asset prop firms in 2026. For a broader view of the best firms across all trader types, see best prop firms for crypto traders in 2026.
Highlights of this article
- Traditional equity options are almost unavailable in the retail prop challenge industry
- Futures prop firms like TopStep offer CME access, the closest genuine path for futures options traders
- Crypto prop firms like Velotrade offer perpetual futures with leverage, the most practical funded alternative for options-style directional trading in 24/7 markets
- Multi-asset firms like FundedNext cover the widest instrument range for traders working across asset classes
- The right firm depends on what type of derivatives trading you actually do
Why Options Traders Have Limited Choices at Prop Firms
The retail prop challenge model was built on forex and futures infrastructure, not equity options.
The structural reason: equity options require a brokerage license for options market making, Black-Scholes margin calculations, and compliance frameworks that are fundamentally different from the spot forex and futures infrastructure most challenge firms run on.
DXtrade, MT4, MT5, and the CME/Bybit ecosystems are built for linear leverage instruments. You buy or sell a position with a multiplier, and your P&L moves linearly with price. Options have non-linear payoffs, expiry dates, strike prices, and volatility as a variable. Most prop firm platforms do not support that model.
The result: if you trade equity puts and calls on a retail broker and want to replicate that at a prop firm, your choices are almost zero.
What you do have are 3 practical paths:
- Futures prop firms: CME-listed futures, including futures options on major contracts
- Crypto derivatives prop firms: perpetual futures with leverage, funding rates, and two-directional exposure around the clock
- Multi-asset CFD prop firms: broad instrument range covering indices, commodities, and some derivatives products
Best Prop Firms for Options and Derivatives Traders
1) Velotrade, best for crypto derivatives traders
Founded: 2023 HQ: Hong Kong Platform: DXtrade Max funding: Up to $200,000 Markets: Crypto perpetual futures
For traders who use options-style logic on crypto, including directional leverage plays, volatility trades around macro releases, and position sizing with defined risk, Velotrade's perpetual futures environment offers the most capable prop account structure in the space.
Perpetual futures share the key characteristics that draw options traders to leveraged derivatives:
- 2-directional exposure (long and short)
- leverage applied to a notional position
- defined loss limits via stops
- 24/7 market access with no expiry date constraints
Velotrade's challenge rules are calibrated for derivatives traders who need operational flexibility:
- no consistency rule (no cap on single-day profits from a high-conviction trade)
- news trading allowed
- weekend holding permitted
- EOD trailing drawdown: floor only moves at day close, never intraday
The EOD trailing drawdown is particularly relevant for derivatives traders used to holding through volatility. Short-term intraday swings do not permanently tighten your remaining drawdown buffer. Only your end-of-day equity high matters.
Challenge entry starts at $35 for a $5,000 funded account (1-Step Pro) through to $480 for $100,000 (2-Step Classic). Profit split up to 90%.
See all challenge sizes and structures →
2) TopStep, best for futures options traders
Founded: 2012 Platform: Rithmic, Tradovate Markets: CME futures (ES, NQ, CL, GC, and more)
TopStep is the most established futures prop firm in the retail space and the closest genuine option for traders who want CME-listed futures exposure.
CME futures include options on futures for major contracts. ES options, crude oil options, and gold options mean options-literate traders can apply directional or volatility-based strategies within the funded account framework. TopStep's long track record (12+ years) and transparent challenge process make it the most credible starting point for futures-focused derivatives traders.
Verify directly with TopStep which specific options contract types are eligible on funded accounts, as availability can vary by program tier.
Strengths:
- longest operating track record in futures prop trading
- CME exchange access with genuine market depth
- transparent evaluation process
Trade-offs:
- does not cover crypto, forex, or equity options
- funded account options eligibility varies: confirm before purchasing
For a full review of TopStep's structure and how it compares for crypto traders, see Topstep review 2026 and Topstep vs Velotrade.
3) FundedNext, best for multi-asset derivatives exposure
Founded: 2022 HQ: UAE Platform: MT4, MT5, cTrader, Match-Trader Max funding: Up to $4,000,000 Markets: Forex, indices, commodities, crypto
FundedNext offers the widest instrument range of any firm in this comparison, spanning forex pairs, equity indices, commodities, and crypto.
For traders who want broad derivatives exposure across multiple asset classes, FundedNext is the most practical path. Its multi-platform support and range of instruments makes it the most flexible choice for derivatives-literate traders who do not want to specialize in a single market.
Strengths:
- widest instrument range in this comparison
- broad platform compatibility across MT4, MT5, cTrader, and Match-Trader
- high advertised profit split ceiling
Trade-offs:
- forex-first product design; crypto and derivatives conditions are less optimized than specialized firms
- specific options-product availability should be verified directly before purchasing
For a full breakdown, see FundedNext vs Velotrade and FundedNext review 2026.
4) BrightFunded, best for multi-asset with automation support
Founded: 2023 HQ: Amsterdam Platform: MT5, cTrader, DXtrade Max funding: Up to $400,000
BrightFunded rounds out this comparison with broad platform flexibility and multi-asset access.
For derivatives traders who also run systematic or semi-automated strategies, BrightFunded's platform support across DXtrade and cTrader allows more tooling options than some competitors. News trading and weekend holding are generally available, which matters for traders who execute around volatility events rather than trending price action.
For a full breakdown, see BrightFunded vs Velotrade and BrightFunded review 2026.
Comparison Table
| Firm | Primary markets | Derivatives access | Max funding | Profit split | Best for |
|---|---|---|---|---|---|
| Velotrade | Crypto perpetuals | Perpetual futures, leverage, 24/7 | $200,000 | Up to 90% | Crypto derivatives traders |
| TopStep | CME futures | Futures options (verify eligibility) | Varies by plan | Up to 90% | Futures options traders |
| FundedNext | Forex, indices, crypto | Broad multi-asset derivatives | $4,000,000 | Up to 95% | Multi-market traders |
| BrightFunded | Multi-asset | Multi-platform derivatives | $400,000 | Up to 90% | Systematic/multi-asset |
How to Choose: What Type of Derivatives Trader Are You?
If you trade equity options (puts and calls on stocks): The retail prop challenge space does not serve this strategy. Evaluate whether futures options or perpetual futures could deliver similar directional or volatility exposure in a funded format.
If you trade CME futures options (ES, NQ, CL options): TopStep is the closest match. Confirm directly with TopStep which specific options contracts are available on funded accounts.
If you trade crypto with leverage and options-style position sizing: Velotrade is purpose-built for this. EOD trailing drawdown, no consistency rule, news trading, and 24/7 markets give the most operationally appropriate environment for leverage-based directional trading.
If you want the widest instrument range across multiple asset classes: FundedNext offers the most breadth, though conditions for crypto and derivatives are optimized for a broad multi-asset audience rather than specialists.
For a structured evaluation framework before committing to any firm, see how to evaluate a crypto prop firm.
What to Check Before Paying Any Challenge Fee
1. Confirm instrument availability. Options and derivatives product sets vary significantly across firms. Do not assume that "multi-asset" includes your specific contract. Get written confirmation from support before paying.
2. Understand how leverage translates. Options have non-linear payoffs. Prop firm challenge accounts use linear leverage. Make sure your position sizing logic works within a drawdown-limited account structure.
3. Check the drawdown model. EOD trailing drawdown is more forgiving for derivatives traders than tick-by-tick models. Intraday volatility does not permanently tighten your floor. See EOD trailing vs tick-by-tick drawdown explained for a full breakdown.
4. Confirm news and event trading policy. Derivatives traders often build positions around earnings, macro releases, or contract expiry windows. Confirm the firm explicitly allows trading during high-impact events.
Ready to get funded? Start your challenge →
What does passing actually pay you?
Plug in your account size and see your profit target, max drawdown, and first payout — before you commit to a challenge.
Last updated: June 2026. Challenge conditions and instrument availability change regularly. Verify directly with each firm before purchasing.
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.
View author page
