No two prop firms have the same rules. The differences between drawdown models, consistency requirements, news trading policies, and payout track records determine whether your specific strategy can succeed at a given firm, not the headline profit split.
This comparison covers the most relevant prop firms across forex, futures, crypto, and multi-asset markets. The goal is a clear side-by-side reference so you can match the right firm to how you actually trade before paying any evaluation fee.
Highlights of this article
- Prop firm rules vary more than profit splits. Drawdown model and consistency rule are the variables that determine strategy fit.
- FTMO leads on forex payout credibility with 12+ years of track record
- TopStep leads on futures with genuine CME exchange access
- Velotrade leads on crypto with EOD trailing drawdown, no consistency rule, and 24/7 market access
- FundedNext offers the widest multi-asset instrument range with the highest headline funding ceiling
- Use this comparison to match firm rules to your actual trading style before purchasing
The 4 variables that matter more than profit split
Every prop firm lists an 80-90% profit split. That number is largely standard across the top tier. What actually differentiates firms is the rule set that determines whether you can reach that split.
1. Drawdown model. Fixed drawdown keeps the floor at the same level regardless of profit. EOD trailing drawdown raises the floor at end of day as you profit, but never intraday. Tick-by-tick trailing raises the floor with every intraday equity peak. For strategies with intraday volatility, tick-by-tick trailing is the most aggressive and most likely to cause unintended breaches.
2. Consistency rule. Some firms cap the percentage of total evaluation profit that can come from a single day, typically 30-50%. A single strong-day strategy that banks 60% of its profits on one macro event will fail this rule even if the overall profit target is hit. Not all firms apply this rule.
3. News trading policy. Firms that restrict trading during high-impact events (FOMC, NFP, CPI for forex; macro releases for crypto) eliminate a significant portion of viable setups for event-driven traders. Confirm news policy in the written rules, not the marketing page.
4. Payout track record. Split percentage is irrelevant if the firm does not pay. Look for independently verified payouts across third-party platforms with timestamps and context. Operating history matters: firms with 10+ years of consistent payments carry a different risk profile than firms launched 12 months ago.
Full prop firm comparison
| Firm | Market | Drawdown model | Consistency rule | News trading | Profit split | Track record | Max funding |
|---|---|---|---|---|---|---|---|
| Velotrade | Crypto | EOD trailing | None | Allowed | Up to 90% | 3 years | $200,000 |
| FTMO | Forex | Fixed | Yes | Restricted | 80-90% | 12+ years | $200,000 |
| TopStep | Futures | EOD trailing | None | Allowed | Up to 90% | 12+ years | Varies |
| FundedNext | Multi-asset | Fixed/EOD | Varies by plan | Varies | Up to 95% | 4 years | $4,000,000 |
| BrightFunded | Multi-asset | EOD trailing | None | Allowed | Up to 90% | 3 years | $400,000 |
| DNA Funded | Multi-asset | EOD trailing | None | Allowed | Up to 90% | 4 years | $600,000 |
| HyroTrader | Crypto | EOD trailing | None | Allowed | 70-90% | 3 years | $1,000,000 |
Firm-by-firm breakdown
Velotrade: best for crypto traders
Market: Crypto perpetual futures Drawdown: EOD trailing (floor only moves at end of day, never intraday) Consistency rule: None News trading: Allowed Weekend holding: Allowed API access: Included (no extra fee) Entry fee: From $35 (1-Step Pro, $5,000 account)
Velotrade has the strongest rule set for crypto traders in 2026. EOD trailing drawdown means intraday price swings do not permanently tighten the floor. No consistency rule means a single high-conviction trade can contribute any percentage of the evaluation profit target. News trading and weekend holding are both permitted.
The founding team includes institutional finance backgrounds from JP Morgan, Bank of America, and Dresdner Kleinwort. The firm uses institutional hedging rather than a book model, aligning firm incentives with trader success.
For a full review, see Velotrade review 2026. For a broader crypto field comparison, see best crypto prop firms 2026.
FTMO: best for forex traders prioritizing payout credibility
Market: Forex, indices, commodities, crypto (limited) Drawdown: Fixed Consistency rule: Yes (on most account types) News trading: Restricted around high-impact events Entry fee: Several hundred euros depending on account size
FTMO is the most credible long-term option for forex traders. Its 12+ year operating history and scale of verified payouts create a trust baseline that no newer firm can replicate. The trade-offs are real: consistency rule applies, news trading is restricted, and crypto conditions are not optimized for 24/7 behavior.
For traders who value payout credibility above rule flexibility, FTMO remains the benchmark. For a full breakdown, see FTMO review 2026 and FTMO vs Velotrade.
TopStep: best for CME futures traders
Market: CME futures (ES, NQ, MES, MNQ, CL, GC, ZB) Drawdown: EOD trailing Consistency rule: None Platform: Rithmic, Tradovate Entry: Subscription-based evaluation
TopStep is the most established prop firm for CME futures with 12+ years of operating history and genuine exchange connectivity. ES, NQ, and micro contract access gives futures traders the most credible funded account path available in the retail space.
For a full breakdown, see Topstep review 2026 and best prop firm for futures in 2026.
FundedNext: best for multi-asset traders
Market: Forex, indices, stocks, commodities, crypto Drawdown: Fixed or EOD depending on plan Consistency rule: Varies by plan Max funding: $4,000,000 Platform: MT4, MT5, cTrader, Match-Trader
FundedNext offers the widest instrument range and the highest headline funding ceiling in this comparison. For traders who work across multiple markets under a single account, it is the most complete option.
Verify the specific drawdown model and consistency rule that applies to your chosen plan before purchasing. For a full breakdown, see FundedNext review 2026 and FundedNext vs Velotrade.
BrightFunded: best for beginners
Market: Multi-asset (forex, indices, crypto) Drawdown: EOD trailing Consistency rule: None Max funding: $400,000 Platform: MT5, cTrader, DXtrade
BrightFunded is the most accessible starting point for traders new to the funded account model. Its evaluation structure is beginner-friendly, no consistency rule applies, and news trading is generally available.
For a full breakdown, see BrightFunded review 2026 and BrightFunded vs Velotrade.
HyroTrader: best for exchange-connected crypto execution
Market: Crypto perpetual futures (via Bybit) Drawdown: EOD trailing Consistency rule: None Max funding: $1,000,000
HyroTrader's differentiator is real exchange connectivity through Bybit. For crypto traders who prioritize fill quality and slippage transparency above other factors, HyroTrader is the main alternative to Velotrade. For a full comparison, see HyroTrader vs Velotrade and HyroTrader review 2026.
How to use this comparison
Step 1: Identify your primary market. Forex, futures, crypto, or multi-asset. This immediately filters the list to 1-2 relevant firms. A crypto trader using this comparison should focus on Velotrade and HyroTrader first.
Step 2: Check the consistency rule. If your strategy concentrates profits on specific setups or macro events, eliminate any firm with a consistency rule before evaluating anything else.
Step 3: Match the drawdown model to your hold behavior. If you hold positions overnight or through intraday volatility, EOD trailing is more appropriate than tick-by-tick trailing. If you scalp and close everything intraday, the model matters less.
Step 4: Verify payout evidence independently. Platform testimonials are not independent evidence. Look for confirmed payouts across third-party platforms with timestamps and trader identity context.
Step 5: Check news trading policy against your strategy. If any meaningful portion of your edge comes from trading around macro events, a firm with news restrictions eliminates that edge entirely.
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Last updated: June 2026. Challenge conditions, drawdown models, and rule sets change regularly. Verify directly with each firm before purchasing.
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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.
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