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Cheapest prop firm challenges

Ranked on entry cost per $1,000 of funding rather than on the headline fee, because a cheap evaluation on a small account is not the same as a cheap route to funding.

What decides the order
Rule fairness, payout terms, true cost after fees, platform coverage and years operating. Each is scored against a published rubric from the firm’s own documents, so you can check our working.
What we cannot tell you yet
Whether a firm pays reliably in practice. We publish a median payout time only once five traders have submitted verified proof, and a trader score only once a firm has ten verified reviews. Those columns stay empty until they are honest.
To be listed at all
To be listed at all: a named legal entity, terms published in full, and enough documented data to score a majority of the rubric weight. Firms we could not document do not appear here — they are listed separately without a score. 19 firms are documented but not yet scored, and are listed without a position.
Best prop trading firms Best prop firms for beginners Cheapest prop firm challenges Prop firms with static drawdown
Updated 19 August 2026 Affiliate disclosure
1

FXIFY

United Kingdom · Est. 2023 · MT5, TradingView, DXTrade
76
Rules score
Why it sits here
Rule fairness
100
Payout terms
68
True cost after fees
73
Platform & instruments
60
Years operating
58
Payout record
No verified proofs yet — not enough to score
—
Profit split
80%
Cheapest
$71
Max funding
$250,000
Full review
2

Funding Pips

United Arab Emirates · Est. 2022 · MT5
69
Rules score

Funding Pips provides multiple documented evaluation routes and flexible features on selected models, but traders must closely follow its model-specific payout, news, copy-trading and risk rules.

Why it sits here
Rule fairness
80
Payout terms
97
True cost after fees
55
Platform & instruments
20
Years operating
64
Payout record
No verified proofs yet — not enough to score
—
Profit split
95%
Cheapest
$499
Max funding
$200,000
Daily drawdown
4%
Full review
3

Apex Trader Funding

United States · Est. 2021
68
Rules score
Why it sits here
Rule fairness
35
Payout terms
85
True cost after fees
100
Years operating
70
Payout record
No verified proofs yet — not enough to score
—
Model
1-step
Profit split
90%
Cheapest
$147
Max funding
$300,000
Full review
4

Goat Funded Trader

Hong Kong · Est. 2023 · cTrader, Match Trader, MT5, TradeLocker, Volumetrica FX
67
Rules score

Goat Funded Trader offers a broad selection of staged and instant programs, but its detailed restrictions on EAs, copy trading, risk-taking and payout conditions require careful review.

Why it sits here
Rule fairness
63
Payout terms
73
True cost after fees
74
Platform & instruments
60
Years operating
58
Payout record
No verified proofs yet — not enough to score
—
Profit split
80%
Cheapest
$37
Max funding
$400,000
Max drawdown
2%
Visit Goat Funded Trader Full review
5

Instant Funding

United Kingdom · Est. 2022 · cTrader, Match Trader, MT5
52
Rules score
Why it sits here
Rule fairness
30
True cost after fees
79
Platform & instruments
60
Years operating
64
Payout record
No verified proofs yet — not enough to score
—
Cheapest
$31
Max funding
$200,000
Full review

Frequently asked

Do firms pay to be on this list?
They can pay for a listing and for labelled placements, but not for a position. Ranking inputs are published component by component on the methodology page, and any commercial relationship is disclosed on the firm’s row and on its profile.
Why are there no trader review scores in the ranking?
Because a handful of reviews would swing a score unfairly. Reviews are collected with purchase proof and shown as their own number once a firm reaches ten verified ones. They never feed the PFH Score.
Why do some firms show no score at all?
Because we have not documented enough of their terms to score them honestly. A firm needs components covering a majority of the total weight before we publish a number, and until then its row says so rather than showing a placeholder.
How often does this list change?
It is reviewed monthly, and immediately whenever a firm changes a rule that affects a scored field. Every change is logged on the firm’s profile.
What is the cheapest way to start?
A one-step evaluation on a small account with a discount code, and the willingness to lose the fee. Treat the first challenge as tuition rather than an investment.