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Prop Trading: The Ultimate Guide to Prop Firms, Evaluations, Rules, Risk Management and Strategies

Home / Prop Trading

49
Guides published
54
Glossary terms
4
Free calculators
10
Languages

Start here

Four stages, in order. Each one ends where the next begins.

01 Understand the model What a prop firm is, how it earns, and why that shapes every rule you will be asked to follow. 6 guides · 66 min 02 Pick a firm Reading a rulebook properly, spotting the terms that end accounts, and comparing true cost rather than headline price. 7 guides · 82 min 03 Pass the challenge Position sizing against a drawdown limit, the failure patterns behind most blown evaluations, and what to do after a breach. 5 guides · 43 min 04 Stay funded and get paid Payout mechanics, scaling plans, consistency reviews and what to do when a payout is delayed. 3 guides · 33 min

The main guides

Long, reviewed regularly, and the ones worth reading end to end.

PILLAR · 16 MIN Prop trading for complete beginners A complete, honest explanation of proprietary trading: what a prop firm is, what you are actually buying, how the business model shapes every rule, what the numbers really look like, and how to decide whether it is for you. Updated 13 Aug 2026 PILLAR · 14 MIN Static vs trailing drawdown The single rule that decides whether an account survives. All four structures worked through with numbers, what each does to position sizing and exits, which strategies they suit, and the exact questions to ask before you pay. Updated 13 Aug 2026 PILLAR · 15 MIN Position sizing against a drawdown The calculation that keeps evaluations alive. How to derive size from the distance to your breach level, why the usual percentage-of-balance rule fails on funded accounts, and a full worked routine for forex and futures. Updated 13 Aug 2026 PILLAR · 15 MIN The true cost of a prop firm challenge The advertised fee is the smallest part of what a funded account costs. Every charge that appears before and after you pass, worked through with full examples, plus the comparison unit that makes firms actually comparable. Updated 13 Aug 2026 PILLAR · 14 MIN How prop firm payouts work The full sequence from requesting a withdrawal to money arriving: cycles, minimums, what the review actually checks, verification, methods, timings, and every point at which the process stalls. Updated 13 Aug 2026 PILLAR · 15 MIN How to choose a prop firm The complete selection method: which fields to compare and in what order, how to score a shortlist, the questions to send support before paying, and the warning signs that should end a shortlist early. Updated 13 Aug 2026

Browse by topic

Every guide we have, grouped the way traders actually ask about them.

Getting started 8
Prop trading for complete beginners Prop firm vs personal trading account Is prop trading legitimate? How much can you realistically earn? Prop firm scams and how to spot them Do you need trading experience first? Demo accounts and why they matter Prop trading around the world
Rules and risk 9
Static vs trailing drawdown The consistency rule, explained Daily loss limits and reset times Minimum trading days News trading restrictions Weekend and overnight holding Prohibited strategies, and what they actually mean What counts as a breach All 9 guides →
Passing the challenge 11
Position sizing against a drawdown How long a challenge really takes One-step vs two-step evaluations What to do after a failed challenge Resets: worth it or not? Trading plans that survive a challenge Risk per trade for a 10% target Journaling during an evaluation All 11 guides →
Costs and value 6
The true cost of a prop firm challenge Hidden fees: activation, data and platform Cheapest challenges by account size Are discount codes worth waiting for? Refundable fees, explained How to use the challenge cost calculator
After you are funded 9
How prop firm payouts work Scaling plans compared Profit splits and when they rise What to do if a payout is delayed The consistency review at payout Managing several funded accounts Losing a funded account: what next Taxes on funded trading income All 9 guides →
Firms and comparisons 6
How to choose a prop firm What makes a prop firm good for beginners What to look for in a futures prop firm Firms with no consistency rule What "fastest paying" actually means Alternatives to the biggest firms

Free calculators

Answer the questions guides cannot: what this actually costs you, and where your line is.

CALCULATOR True cost calculator What a funded account really costs after failed attempts and fees. CALCULATOR Drawdown calculator Your real stop distance under static or trailing rules. CALCULATOR Position size Lot size for a target risk against firm limits. CALCULATOR Payout projection What a split and scaling plan pay over a year.

Glossary

Every term with the plain meaning and how firms actually apply it.

Full glossary →
Trailing drawdown
A loss limit that follows your highest equity instead of staying at your starting balance, so profit permanently tightens your room to lose.
Static drawdown
A maximum loss level fixed at your starting balance. It never moves, so profit you make is genuinely yours to risk.
Consistency rule
A cap on how much of your total profit may come from a single day or trade. Often applied only at payout review.
Daily loss limit
The maximum you may lose in one session, usually reset at the firm’s midnight rather than yours.
Profit split
The share of funded-account profit you keep. Commonly 80% to 90%, occasionally 100%.
Payout
The transfer of your share of funded-account profit, requested on the firm’s cycle and paid after its review.