5 Ways to get a free prop firm challenge (Updated) - PropTrading.online (2024)

FAQs

How to get a free prop firm challenge account? ›

Monitor or research different prop firms to see who offers this opportunity. For example, at RebelsFunding, you can join the monthly trading contests for free and trade on the RF-Trader for a certain period of time. If you reach the profit target and follow the rules, you can win a funded account and even cash prize.

Which prop firms give a free trial? FunderPro, FTMO, UltraCap Trading are some of the best options for traders who want to join a prop trading firm that offers free trials or demo accounts.

According to it, 4% of traders, on average, pass prop firm challenges. But only 1% of traders kept their funded accounts for a reasonable amount of time. While this result is not nearly as bad as the one discussed earlier, it still looks bleak for prospective prop traders. But why is the percentage of failure so high?

We offer a Free Trial account, which is an abridged version of an FTMO Challenge. The purpose of the Free Trial is to serve our new clients to see how it works and assess their trading skills to see if they have what it takes to pass an FTMO Challenge and Verification.

The 1 Million Dollar Prop Trading Firm Challenge with FundedX is not just an opportunity; it's a pathway to financial triumph. It allows traders to access substantial capital, share in the profits they generate, and ultimately advance their careers in the trading world, with the support of FundedX.

FTMO 's top competitors in June 2024 are: FunderPro, the5ers and more. FunderPro is currently rank as the number one on the list of top Forex Prop Firms.

FTUK is a reputable prop firm with instant funding accounts, which attracts seasoned traders who want to access large trading capital without a lengthy evaluation process. The funding range is from 14k to 5 million USD with a profit share of 80% and maximum leverage of 1:100.

How to get a free funded forex account? ›

It's estimated that only 4% of forex traders successfully pass forex prop firm challenges, with only 1% of traders holding onto their funded accounts for the long term by not violating any rules. This number may surprise you, but it's actually built this way by design.

There is estimated to be a 90% fail rate of traders that take the FTMO challenge. The reason behind this is due to traders chasing the profit target with a time restriction in place.

Minimum Deposit. Another important aspect of the FTMO 200k account price is the minimum deposit required to start trading. The minimum deposit for the $200,000 account is $5,000. This means that once you have paid the $485 fee, you will need to deposit an additional $5,000 to start trading.

This is a popular way for traders to prove their skills and potentially secure funding from a prop firm. However, passing this challenge can be quite daunting and requires a lot of hard work and dedication.

To avoid this pitfall, you should treat the challenge as if it was real money. You should respect the rules of the prop firm, follow your trading plan, and trade with discipline and patience. You should also keep track of your performance and emotions, and review them regularly.

Here's why:Breach of Contract: Prop firm challenges are designed to assess your own trading skills and knowledge. Having someone else complete the challenge undermines this purpose and likely violates the terms and conditions of the prop firm agreement.

Bespoke Funding Program

Luckily, the landscape is evolving. Enter the free prop firm challenge, a revolutionary concept that allows beginners to showcase their skills and potentially land a funded account with a prop firm, all without risking their own money.

Studies have shown that around 4 out of 10 people pass the first stages of any Prop Firm Challenge, and 2 out of the 4 make it through to get a Funded Account. But only 1 person ends up getting paid.

Are prop firm challenges free? ›

Benefits of Free Prop Firm Challenges

Zero Financial Risk: Unlike traditional funded accounts that require upfront fees, free challenges allow you to test your mettle and hone your strategies without any financial commitment.

Several trading firms and platforms offer free funded trading challenges that allow traders to demonstrate their trading skills and potentially qualify for funded forex accounts. These challenges typically involve trading simulated or live accounts with virtual funds provided by the platform.

In most cases though one can expect to pay a flat monthly fee, set up fee and in some cases a fee per account. Once again, each software provider varies with their pricing with some only charging per demo. As a general rule one should expect to pay at least $50,000 to operate a prop firm for one year.