If you want to become a prop trader, these three are the most solid choices in 2026: FTMO (the pioneer, since 2015), FundedNext (growing fast, since 2022), The5ers (instant funding model since 2016). Each one has different rules, prices, profit splits and payouts. Picking the wrong one = weeks wasted.
This guide compares the 3 prop firms on the dimensions that actually matter: cost, drawdown, target, split, payout. No copy-paste reviews — just concrete numbers.
30-second summary
- FTMO: the most established, strict rules, punctual payouts, 80-90% profit split. For those looking for reliability.
- FundedNext: more "trader-friendly", lower targets, 15% initial + growth on consistency. For those on their first challenges.
- The5ers: unique "instant funding" + scaling model. For those who want to skip the evaluation phase.
FTMO — The industry benchmark
How it works
Two evaluation phases: Phase 1 (target +10%, max DD 10%, daily DD 5%, no time limit), Phase 2 (target +5%, same DD). After both, funded account up to $400k.
Price
$10k account: €89. $25k account: €179. $50k account: €289. $100k account: €539. $200k account: €1,079. Refunded on first payout.
Profit split
80% standard. 90% after 3 consistent payouts (Scale Plan).
Payout
Bi-weekly (every 14 days) or on-demand after 3 payouts. Payments via wire/crypto in 1-2 business days. Impeccable payment track record since 2015.
Critical hidden rules
- Consistency rule (Swing): max 30% of total profit from a single trade
- News lock (Normal): no trading 2 min before/after high-impact news
- Weekend hold: Swing account only, Normal must close
- EA/algorithmic: allowed if not HFT/copy trading
Pros
- Crystal-clear reputation (10+ years)
- Always punctual payouts
- Clear dashboard, 24/7 support
- Free retake if you close in profit but didn't hit the target
Cons
- Strict rules, little tolerance
- Phase 1 target (10%) challenging
- Pricing aligned with top of the market
FundedNext — The trader-friendly challenger
How it works
Offers 3 models: Evaluation (2 phases similar to FTMO), Express (1 phase, target +8%), Stellar (uniform challenge, more permissive rules).
The Evaluation Phase 1 has a target of +8% (vs FTMO 10%), Phase 2 +5%, max DD 10%, daily DD 5%. Accounts up to $200k.
Price
$10k account: $59. $25k account: $189. $50k account: $269. $100k account: $549. Generally 10-20% cheaper than FTMO on the larger sizes.
Profit split
15% initial already in Phase 1 (unique in the industry — pays even during evaluation if profitable). Standard 80%, scaling up to 90%.
Payout
First payouts weekly, then on-demand. Crypto/wire, 1-3 days. Solid reputation since 2022.
Critical hidden rules
- Min 5 trading days in Phase 1 (no rush, you must trade at least a week)
- News trading: allowed on Stellar (advantage vs FTMO)
- Weekend hold: allowed on all models
Pros
- Lower Phase 1 target (8% vs 10%)
- Profit split even during evaluation (unique)
- News trading allowed (Stellar)
- Multiple models for different styles
Cons
- Shorter history (2022), less track record
- Min trading days = no flash challenge
- Customer support sometimes slow
The5ers — Instant funding + scaling
How it works
Unique model: choose between Bootcamp (1 phase, target +6%) or High Stakes (more aggressive) or Hyper Growth (instant funding without evaluation, but small account).
The real strong point: automatic scaling. Every time you make +6%, the account doubles (up to a theoretical $4M).
Price
Bootcamp $5k: $39. Bootcamp $20k: $99. Bootcamp $100k: $499. Hyper Growth account (instant): $325-$1,250.
Profit split
50% initial → 100% (yes, you read that right, up to 100%) with scaling. Reaching 100% takes months, but it's possible.
Payout
Bi-weekly. Crypto/wire. Historically punctual but lower payout volume than FTMO.
Critical hidden rules
- Static drawdown (not trailing): max DD 4-6% of initial balance, not equity peak
- No news trading 5 min before/after
- Min trading days: variable per plan
Pros
- Instant funding without evaluation (Hyper Growth)
- Scaling up to a theoretical $4M
- Profit split that grows up to 100%
- Static drawdown = more predictable
Cons
- Small accounts at the start (no instant $100k)
- Initial profit split only 50%
- +6% target requires consistency, not a single winning trade
Which one to choose based on your profile
"I'm new, I want to feel safe" → FTMO
The most established platform, impeccable payouts, standard rules. You'll pay a bit more, but you know exactly what to expect. Thousands of traders funded every year.
"I want an easier target + bonus during evaluation" → FundedNext
Phase 1 target at 8% instead of 10%, profit split even during evaluation. More tolerant for swing/news styles. Good pick for your first challenge.
"I want to skip evaluation or scale quickly" → The5ers
Instant funding via Hyper Growth if you have $300+ budget. Or Bootcamp with scaling that builds huge accounts over time. For those who want to grow capital "organically".
"I scalp on news" → FundedNext (Stellar) or The5ers
FTMO bans trading 2 minutes before/after high-impact news. If your strategy requires news trading, avoid FTMO Normal accounts.
"I swing trade with weekend hold" → FTMO Swing or FundedNext
Both support weekend hold. FTMO Normal and The5ers don't (you have to close on Friday).
Price table ($100k account)
- FTMO 2-Step: €539 · Profit split 80→90% · Bi-weekly payout
- FundedNext 2-Step: $549 · Profit split 80→90% + 15% in eval · Weekly payout then on-demand
- The5ers Bootcamp: $499 · Profit split 50→100% · Bi-weekly payout
Prices are similar. The real difference is in the rules and the growth model.
How to reduce risk before buying
Buying a challenge without preparing is the recipe for throwing away €500 in 3 weeks. 90% of traders fail on their first attempt. What to do:
- Backtest your strategy with the rules of the chosen prop firm (drawdown, target, news lock). On AlphaNex you can simulate the 3 prop firms directly.
- Calculate Pass Probability with Monte Carlo on your historical trades. If <60%, don't buy the challenge yet.
- Practice at least 1 month on the simulator with the exact challenge rules before paying.
- Read our guide how to pass FTMO on your first attempt — the same principles apply to the others.
In summary
- FTMO: the safe, established option, strict rules
- FundedNext: lower targets, profit split even in eval, more trader-friendly
- The5ers: scaling up to $4M, profit split up to 100%, instant funding option
- All 3 are reliable on payouts
- Key differences: news rules, weekend hold, scaling, initial profit split
- Simulate before paying = -80% probability of failure