Want to trade with a small budget? Here are the top 7 cheap prop trading firms that provide great value, low costs, and excellent profit splits
To find the right prop trading firm, you do not need to spend a fortune. With a myriad of options out there, which one suits your budget and trading requirements? In this article, we’ll go over seven of the best cheap prop trading firms for those looking to start small while aiming big in terms of their trading profits. These firms are great options for those new to trading or seasoned traders who want high value at a low cost.
1. The Funded Trader: Challenge Diversity, Low Challenge Costs
Starting us off is The Funded Trader. This company offers very flexible account sizes as well as competitive pricing. Their lowest-level challenge is affordable—starting at $49 for a $5,000 account—perfect for those just dipping their toes into prop trading.
The real clincher? Profit splits can get as high as 80%, scaling to 95% as you grow. The Funded Trader further takes care of this by offering several challenges to choose from, including the Dragon or Royal Challenges, all featuring different profit targets and parameters. This firm might be a perfect starting point if you want some diversity without breaking the bank.
2. FundedNext: Low Price and Easily Accessible
Next up, we have FundedNext. With challenges starting at only $59 for a $6,000 account, this firm may be best known for its beginner-friendly one-step challenges. They even give an 80% profit split during the evaluation stage and 90% afterward.
Here’s the twist: FundedNext offers both one-step (hard) and two-step (easy) challenges. This flexibility, combined with a low-cost entry point, allows traders with limited budgets to get funded quickly and efficiently.
3. E8 Funding: Best Prices and Highest Leverage
Next is E8 Funding. If you are interested in high leverage and reasonable pricing, this firm is worth a closer look. They offer $25,000 accounts for as low as $228 on their evaluation accounts, with profit splits fixed at 80%.
A unique feature of E8 is the overall drawdown scaling, which increases as your performance improves. This means that the more professionally you trade, the more room you have for your account to grow. E8 Funding is fantastic value for traders looking to grow steadily without an excessive initial outlay.
4. Funded Trading Plus: No-Nonsense, All-Transparent
Fourth on the list is Funded Trading Plus. If you want a simple way to get funded, this firm makes the process as straightforward as possible with its one-step assessment. It’s ideal for traders who like clear-cut rules, with pricing starting at $119 for a $12,500 account.
What sets Funded Trading Plus apart is its scaling system—starting at 80% profit splits but unlocking 100% profit splits once you hit a 30% profit milestone. One of the few prop firms to offer this feature, it incentivizes traders to perform well.
5. FTMO: Top on the Market with Discounts
And you know FTMO had to make this list. FTMO is one of the most reliable prop firms and also offers affordable options for traders on a budget. You can start with their smallest account—a $10,000 account—for €155.
FTMO provides two modes: Normal and Aggressive. For experienced traders seeking a challenge, the Aggressive mode offers higher profit targets but with increased risk. FTMO frequently offers discounts, so watch out for promotions to save even more.
6. Take Profit Trader: Low Monthly Payments
Take Profit Trader is a great option if you prefer a subscription model. Monthly plans start at $75 for a $25,000 account. Offering a simple, one-step evaluation process with a profit split of 80%, this firm suits traders who want to avoid large upfront payments.
Another benefit is the flexible futures markets available, such as CME, NYMEX, and COMEX. This allows traders to explore various markets beyond just forex and commodities.
7. Apex Trader Funding: Flexible Plans and High Payouts
Lastly, we have Apex Trader Funding. Their monthly plans start as low as $147 for a $25,000 account, and they offer an impressive 100% profit payout for the first $25,000 in profits. After that, payouts become 90%.
Apex is different because they allow no-daily-drawdown rules, giving traders more breathing room. They also work well with futures markets, making them an excellent option for traders looking to broaden their trading scope.
Final Thoughts: Pick the Right Cheap Prop Trading Firms for Your Goals
These are the seven top affordable prop trading firms you can choose from as a trader on a budget. They offer a variety of advantages, from low upfront costs to favorable profit splits and little to no evaluation model requirements.
Finding the right fit depends on your trading style and goals. With all these firms offering something appealing—be it price point, ease of use, or long-term value—it’s essential to choose the one that supports your journey.
Remember, trading isn’t just about strategy; it’s also about selecting the right platform to help you succeed. So, which one will you pick to begin your trading adventure?
