The cheapest prop firm is IQ Capital, with its activation deposit as low as $1. In return, you get a 10K funded account to execute CFD and Crypto based trades. Other cheap alternatives include FxIFY and GoatFundedTrader, Prop firms with minimum deposit as low as $39 for 5K funded account and $36 for a 5K funded account respectively.
We compared various prop firms by testing crucial factors like their offers, trading costs, execution speeds, and the credibility of their bonuses. With our experience, we were able to curate a list of the cheapest Prop Firms while ensuring that they offer clients great service.
Find and compare the 10 cheapest Prop Firms overall in the following list:
- IQ Capital – Cheapest Prop Trading Firm overall, with $1 for a 10K funded account offer
- FxIFY – Low-cost prop firm with unlimited challenge period
- GoatFundedTrader – Best Prop Trading firm with low fees for MT5
- The Trading Pit – Cheap prop trading firm with fair rules
- FundingPips – Low-cost prop firm for Instant Funding account
- Apex Trader Funding – Futures Prop Trading firm with huge discounts
- FundedNext – Cheapest Prop Firm With The Most Custom Offers
- InstantFunding – Prop firm with a variety of instant funding accounts
- BlueBerryFunded – Discounted Prop firm for both CFDs and Futures
- SabioTrade – Top Prop Firm with a wide range of package discounts
1. IQ Capital: The Cheapest Prop Firm Overall With $1 Challenge
IQ Capital is number one on our list of cheapest prop trading firms because it offers the lowest barrier to entry into the world of prop trading, with only $1! We liked that it offers two major asset types, CFD+Crypto and Futures. For CFD+Crypto assets, users can buy a challenge account with as low as $1 for a 10K balance, while Futures assets go for $19 on a 50K account. However, these offers both fall under the new customer promo. But with our promotion code you can get up top 80% discount, what makes IQ Capital to the cheapest prop firm in the world.
We also tested the available account types and found the structure refreshingly straightforward. Traders can choose between the Instant Funding and the Challenge accounts. The Challenge account requires traders to pass an evaluation after funding, before they can start trading on their account. Instant funding accounts, on the other hand, do not require any form of evaluation before trading. Users simply make the deposit and get started immediately.
Traders can also benefit from up to 80% discount on CFDs if they sign up with our promo code ‘TRADINGDE’.
Upon completion of trades, traders get to keep the first $10,000 profit generated from the account, while subsequent profits will be split 80/20 in favour of the trader.
Key Facts about IQ Capital (Futures Assets):
| Feature | Challenge | Challenge | Challenge | Instant Funding | Instant Funding |
|---|---|---|---|---|---|
| Cost | $19 | $89 | $169 | $999 | $1999 |
| Funding Amount | New Customer Offer – 50K | Future – Standard 50K | Future – Standard 100K | 50K | 100K |
| Profit Goal | $3000 | $3000 | $6000 | N/A | N/A |
| Drawdown | $3000 | $3000 | $6000 | $3000 | $5000 |
| Rules | Minimum of 1 active Trading day News Trading allowed EAs are permitted, with terms and conditions 30 days trading period | Minimum of 1 active Trading day News Trading allowed EAs are permitted, with terms and conditions 30 days trading period | Minimum of 1 active Trading day News Trading allowed EAs are permitted, with terms and conditions 30 days trading period | Minimum of 1 active Trading day News Trading allowed EAs are permitted, with terms and conditions 30 days trading period | Minimum of 1 active Trading day News Trading allowed EAs are permitted, with terms and conditions 30 days trading period |
| Platforms | ATAS, DeepChart, Quantower | ATAS, DeepChart, Quantower | ATAS, DeepChart, Quantower | ATAS, DeepChart, Quantower | ATAS, DeepChart, Quantower |
| Profit Split | Up to 100%. (80/20 after first 10,000 profit) | Up to 100%. (80/20 after first 10,000 profit) | Up to 100%.(80/20 after first 10,000 profit) | Up to 100%.(80/20 after first 10,000 profit) | Up to 100%.(80/20 after first 10,000 profit) |
| Support | Livechat, Ticket Support, Email Support | Livechat, Ticket Support, Email Support | Livechat, Ticket Support, Email Support | Livechat, Ticket Support, Email Support | Livechat, Ticket Support, Email Support |
| Payment Methods | Bitcoin, Ethereum, Binance, MasterCard, Visa | Bitcoin, Ethereum, Binance, MasterCard, Visa | Bitcoin, Ethereum, Binance, MasterCard, Visa | Bitcoin, Ethereum, Binance, MasterCard, Visa | Bitcoin, Ethereum, Binance, MasterCard, Visa |
| Activation Fee | $129 | $129 | $129 | $39/month | $39/month |
| Reset Fee | $49 | $49 | $79 | $499 | $899 |
Key Facts about IQ Capital (CFDs + Crypto):
| Feature | Challenge | Challenge | Challenge | Challenge | Instant Funding | Instant Funding |
|---|---|---|---|---|---|---|
| Cost | $1 | $199 | $499 | $999 | $999 | $1999 |
| Funding Amount | Newbie Offer – 10K | Advanced – Standard 50K | Expert – Standard 100K | Master – 200K | 50K | 100K |
| Profit Goal | $800 | $4000 | $8000 | $16000 | N/A | N/A |
| Drawdown | $600 | $3000 | $6000 | $10000 | $3000 | $6000 |
| Rules | Minimum of 1 active Trading day News Trading allowed EAs are permitted, with terms and conditions 30 days trading period | Minimum of 1 active Trading day News Trading allowed EAs are permitted, with terms and conditions 30 days trading period | Minimum of 1 active Trading day News Trading allowed EAs are permitted, with terms and conditions 30 days trading period | Minimum of 1 active Trading day News Trading allowed EAs are permitted, with terms and conditions 30 days trading period | Minimum of 1 active Trading day News Trading allowed EAs are permitted, with terms and conditions 30 days trading period | Minimum of 1 active Trading day News Trading allowed EAs are permitted, with terms and conditions 30 days trading period |
| Platforms | Volumetrica | Volumetrica | Volumetrica | Volumetrica | Volumetrica | Volumetrica |
| Profit Split | Up to 100%. (80/20 after first 10,000 profit) | Up to 100%. (80/20 after first 10,000 profit) | Up to 100%.(80/20 after first 10,000 profit) | Up to 100%.(80/20 after first 10,000 profit) | Up to 100%.(80/20 after first 10,000 profit) | Up to 100%.(80/20 after first 10,000 profit) |
| Support | Livechat, Ticket Support, Email Support | Livechat, Ticket Support, Email Support | Livechat, Ticket Support, Email Support | Livechat, Ticket Support, Email Support | Livechat, Ticket Support, Email Support | Livechat, Ticket Support, Email Support |
| Payment Methods | Bitcoin, Ethereum, Binance, MasterCard, Visa | Bitcoin, Ethereum, Binance, MasterCard, Visa | Bitcoin, Ethereum, Binance, MasterCard, Visa | Bitcoin, Ethereum, Binance, MasterCard, Visa | Bitcoin, Ethereum, Binance, MasterCard, Visa | Bitcoin, Ethereum, Binance, MasterCard, Visa |
| Activation Fee | $9 | $199 | $299 | $599 | $5/month | $5/month |
| Reset Fee | N/A | $69 | $149 | $299 | $499 | $899 |
2. FxIFY: Low Cost Prop Firm With Unlimited Time Limit
FxIFY is second on our list of cheapest prop trading firms. We liked its three core account types, which include Instant, Lightning, and Evaluation Accounts. The Instant Account is designed for confident traders seeking the fastest track to funding and ready to start earning from day 1. It has a higher barrier to entry, with the lower end set at $69 and the upper end at $4,249.
The Lightning account is designed for traders seeking affordability and the fastest way to prove their skills so that they can get funded. Its minimum deposit is quite high, although it’s less than that of an Instant Funding account. Challenge fees can range from $59 to $399. It requires an evaluation, but it’s much faster than the conventional one-stage Evaluation account.
We found that the Evaluation account is divided into three types:
- One-Phase
- Two-Phase
- Three-Phase accounts
You can get a 20% discount when you sign up with our promo code “TRADINGDE”.
The evaluation account you choose determines the number of evaluations you’d need to complete before your account is funded. The deposit required ranges between $59 and $2950 for the One-Phase account.
Key Facts about FXIFY:
| Feature | One Phase | Two Phase | Three Phase | Instant Funding | Lightning |
|---|---|---|---|---|---|
| Cost | $59 – $2950 | $59 – $549 | $39 – $599 | $69 – $4249 | $59 – $399 |
| Funding Amount | 5K – 400K | 5K – 100K | 5K – 400K | 1K – 100K | 10K – 100K |
| Profit Goal | 10% of Prop Funds | 5% of Prop Funds | 5% of Prop Funds | N/A | 5% of Prop Funds |
| Max. Drawdown | 6% | 10% | 5% | 8% | 4% |
| Rules | Minimum of 4 active Trading days News Trading allowed EAs are permitted Unlimited trading period | Minimum of 4 active Trading days News Trading allowed EAs are permitted Unlimited trading period | Minimum of 4 active Trading days News Trading allowed EAs are permitted Unlimited trading period | Minimum of 4 active Trading days News Trading allowed EAs are permitted Unlimited trading period | Minimum of 4 active Trading days News Trading allowed EAs are permitted Unlimited trading period |
| Platforms | MT4/MT5, DX Trade, TradingView | MT4/MT5, DX Trade, TradingView | MT4/MT5, DX Trade, TradingView | MT4/MT5, DX Trade, TradingView | MT4/MT5, DX Trade, TradingView |
| Profit Split | Up to 90% | Up to 90% | Up to 90% | Up to 90% | Up to 90% |
| Support | 24/5 Emails and Live Chat | 24/5 Emails and Live Chat | 24/5 Emails and Live Chat | 24/5 Emails and Live Chat | 24/5 Emails and Live Chat |
| Payment Methods | VISA, Mastercard, American Express, Cryptocurrency, PayPal, Bank transfer | VISA, Mastercard, American Express, Cryptocurrency, PayPal, Bank transfer | VISA, Mastercard, American Express, Cryptocurrency, PayPal, Bank transfer | VISA, Mastercard, American Express, Cryptocurrency, PayPal, Bank transfer | VISA, Mastercard, American Express, Cryptocurrency, PayPal, Bank transfer |
| Activation Fee | N/A | N/A | N/A | N/A | N/A |
| Reset Fee | N/A | N/A | N/A | N/A | N/A |
3. GoatFundedTrader: Cheap MT5 Prop Firm
Third on our list of the cheapest prop firms is GoatFundedTrader because it offers price options as low as $36. Currently, there is an ongoing new customer promo that gives each new customer 50% off on any deposit. Upon executing trades, users can claim their profits bi-weekly without any stress.
Based on our research, the onboarding process is straightforward, and the platform is easy to navigate, which makes it a solid option for beginners. We also liked the leverage offering, which goes up to 1:100, giving traders more flexibility in position sizing. We found four major account types: One Step, Two Step, Three Step, and Instant Account, with various model types like Goat, Standard, and Pro.
The firm supports a wide range of payment options, and withdrawals take 2 business days, with the minimum withdrawal limit capped at $100. Traders can also earn additional rewards when they sign up for their affiliate program. Simply get a new customer to sign up with your code and earn rewards.
Key Facts about GoatFunded Trader:
| Feature | One Step | Two Step | Three Step | Instant |
|---|---|---|---|---|
| Cost | $178 – $1098 | $36 – $728 | $65 – $665 | $108 – $2998 |
| Funding Amount | 15K – 200K | 5K – 150K | 10K – 200K | 5K – 400K |
| Profit Goal | 10% of account Size | Phase 1 – 8-10% of account sizePhase 2 – 5-6% of account size | Phase1,2,3 – 6% of account size | N/A |
| Drawdown | 8% | 8-10% | 6% | 6% |
| Rules | Minimum of 3 active Trading days News Trading allowed EAs are not permitted Unlimited trading period | Minimum of 3 active Trading days News Trading allowed EAs are not permitted Unlimited trading period | Minimum of 3 active Trading days News Trading allowed EAs are not permitted Unlimited trading period | Minimum of 3 active Trading days News Trading allowed EAs are not permitted Unlimited trading period |
| Platforms | TradeLocker, Volumetrea, Match Trader, CTrader, MT5 | TradeLocker, Volumetrea, Match Trader, CTrader, MT5 | TradeLocker, Volumetrea, Match Trader, CTrader, MT5 | TradeLocker, Volumetrea, Match Trader, CTrader, MT5 |
| Profit Split | 80-100% add on | 80-100% add on | 80-100% add on | 80-100% add on |
| Support | Email, Website contact form, In-dashboard live chat, Phone Support, Social Channels (Discord, X, Instagram) | Email, Website contact form, In-dashboard live chat, Phone Support, Social Channels (Discord, X, Instagram) | Email, Website contact form, In-dashboard live chat, Phone Support, Social Channels (Discord, X, Instagram) | Email, Website contact form, In-dashboard live chat, Phone Support, Social Channels (Discord, X, Instagram) |
| Payment Methods | VISA, PayPal, Bitcoin, Mastercard, Skrill, American Express | VISA, PayPal, Bitcoin, Mastercard, Skrill, American Express | VISA, PayPal, Bitcoin, Mastercard, Skrill, American Express | VISA, PayPal, Bitcoin, Mastercard, Skrill, American Express |
| Activation Fee | N/A | N/A | N/A | N/A |
| Reset Fee | N/A | N/A | N/A | N/A |
4. The Trading Pit: Cheap Prop Firm With Fair Rules
Number four on our list of cheapest prop trading firms is TheTrading Pit. Based on our research, the prop firm offers two types of assets for trades, Futures and CFDs. For Futures, there are three available account sizes: 50K, 100K, and 150K, with the minimum challenge fee capped at $99 for the 50K account. Unlike other prop firms, there is no activation fee required.
On payouts, we found that traders are entitled to 80% of their profit. On their first withdrawal, the maximum withdrawal must be below $5000 or 50% of the total realized profit and must have completed 5 profitable trading days with a minimum profit of $200. While on subsequent payouts, traders must generate profit above $0 since their last payout.
You can get 10% off when you sign up with the promo code “TRADINGDEREBATE”.
Traders can also partake in challenges by trading CFD assets. It can either be a One-Phase or Two-Phase evaluation. The profit goal is set to 10% of the account size for a One-Phase account and 8% and 5%, respectively for the Two-Phase stage. Traders can claim profit biweekly with the minimum withdrawable limit set to $100.
Key Facts about The Trading Pit (Futures):
| Funding Amount | 50K Account | 100K Account | 150K Account |
|---|---|---|---|
| Cost | $99 | $189 | $289 |
| Profit Goal | $3000 | $6000 | $9000 |
| Max. Drawdown | $2000 | $3000 | $4500 |
| Rules | Minimum of 3 active Trading days News Trading not allowed EAs are not permitted Unlimited trading period | Minimum of 3 active Trading days News Trading not allowed EAs are not permitted Unlimited trading period | Minimum of 3 active Trading days News Trading not allowed EAs are not permitted Unlimited trading period |
| Platforms | Tradovate, ATAS | Tradovate, ATAS | Tradovate, ATAS |
| Profit Split | 80% | 80% | 80% |
| Support | Email, Phone, Live chat, Contact form, Discord | Email, Phone, Live chat, Contact form, Discord | Email, Phone, Live chat, Contact form, Discord |
| Payment Options | Credit Cards, PayPal, Apple Pay, Google Pay, Cryptos and BinancePay, Bank Transfer | Credit Cards, PayPal, Apple Pay, Google Pay, Cryptos and BinancePay, Bank Transfer | Credit Cards, PayPal, Apple Pay, Google Pay, Cryptos and BinancePay, Bank Transfer |
| Activation Fee | $0 | $0 | $0 |
| Reset Fee | $79 | $149 | $229 |
Key Facts about The Trading Pit (CFDs):
| Feature | One Phase | Two Phase |
|---|---|---|
| Cost | $49–$1139 | $49-$569 |
| Funding Amount | 5K – 200K | 5K -100K |
| Profit Goal | 10% of account size | Phase 1 – 8% of account sizePhase 2 – 5% of account size |
| Max Drawdown | 7% | 10% |
| Rules | Minimum of 3-5 active Trading days News Trading not allowed EAs are not permitted Unlimited trading period | Minimum of 3-5 active Trading days News Trading not allowed EAs are not permitted Unlimited trading period |
| Platforms | Volumetrica | Volumetrica |
| Profit Split | 80% | 80% |
| Support | Email, Phone, Live chat, Contact form, Discord | Email, Phone, Live chat, Contact form, Discord |
| Payment Options | Credit Cards, PayPal, Apple Pay, Google Pay, Cryptos and BinancePay, Bank Transfer | Credit Cards, PayPal, Apple Pay, Google Pay, Cryptos and BinancePay, Bank Transfer |
| Activation Fee | N/A | N/A |
| Reset Fee | N/A | N/A |
5. FundingPips: Low Cost Firm For Instant Funding
Next on our list of the cheapest prop firms is FundingPips, a well known prop firm with support in over 195 countries. We found that it offers four different account types, including Zero, 1-Step, 2-Step, and 2-Step Pro to service the trading needs of their numerous traders.
Based on our research, the Zero account is quite similar to an instant account in other firms, and requires no form of evaluation before you can start trading. Simply make your deposit and begin trading. While 1-Step, 2-Step, and 2-Step pro accounts require an evaluation with a profit goal that must be achieved before you get funded. With as little as $29, you can start your trading journey on the 2-Step pro account.
You can get 5% off when you sign up with WR Trading’s referral link.
Unlike other prop firms, we found that there is unlimited time to complete your evaluation. As a result, there are no extension fees or reset fees while trading. To keep your account active, you must ensure that you complete at least one trade every 30 days or else your account will be terminated.
Key Facts About FundingPips:
| Feature | Zero | One Step | Two Step | Two Step Pro |
|---|---|---|---|---|
| Cost | $69 – $998 | $59 – $555 | $36 – $529 | $29 – $798 |
| Funding Amount | 5K – 200K | 5K – 100K | 5K – 100K | 5K – 200K |
| Profit Goal | N/A | 10% of Prop Funds | Step 1 – 8% of Prop Funds Step 2- 5% of Prop Funds | 6% of the prop funds for each step |
| Max Drawdown | 5% | 6% | 10% | 6% |
| Rules | Minimum of 7 active Trading days News Trading not allowed EAs are permitted with terms and conditions 30 days trading period | Minimum of 7 active Trading days News Trading not allowed EAs are permitted with terms and conditions 30 days trading period | Minimum of 7 active Trading days News Trading not allowed EAs are permitted with terms and conditions 30 days trading period | Minimum of 7 active Trading days News Trading not allowed EAs are permitted with terms and conditions 30 days trading period |
| Platforms | MT5, cTrader, Match Trader | MT5, cTrader, Match Trader | MT5, cTrader, Match Trader | MT5, cTrader, Match Trader |
| Profit Split | 95% | 60-100% | 60-100% | 80% |
| Support | 24/7 Multi-Language Support via Live Chat | 24/7 Multi-Language Support via Live Chat | 24/7 Multi-Language Support via Live Chat | 24/7 Multi-Language Support via Live Chat |
| Payment Options | VISA, AstroPay, ApplePay, Mastercard, Paysafe, Neteller, GooglePay, Skrill, and Bank Transfer | VISA, AstroPay, ApplePay, Mastercard, Paysafe, Neteller, GooglePay, Skrill, and Bank Transfer. | VISA, AstroPay, ApplePay, Mastercard, Paysafe, Neteller, GooglePay, Skrill, and Bank Transfer. | VISA, AstroPay, ApplePay, Mastercard, Paysafe, Neteller, GooglePay, Skrill, and Bank Transfer. |
| Activation Fee | N/A | N/A | N/A | N/A |
| Reset Fee | N/A | N/A | N/A | N/A |
6. Apex Trader Funding: Futures Prop Firm With Huge Discounts
Apex Trader Funding ranks 6th on our list of cheapest prop firms. While they have a much higher barrier to entry at $199, they offer juicy bonuses from time to time that slash the price very low. Currently, they have an offer running that slashes the $199 entry price to just $19.90.
On Apex Trader Funding, we found two major account types:
- Intraday accounts
- EOD accounts
These accounts differ based on how they calculate the drawdown limits. For EOD accounts, your account balance must not go below the EOD threshold at the end of your trading day, while in Intraday accounts, your balance must never go below the threshold while trading.
You can get 50% when you use the promo code XVLUOYXD.
Before you claim your payouts, you must ensure you have been profitable for at least 5 trading days. There is no timeframe to complete your challenge, but you must ensure that your account is active. You can only claim withdrawals six times and after that, you’d need to re-activate your account before you can execute any trades. The minimum payout per withdrawal is capped at $500.
Key Facts About Apex Trader Funding:
| Feature | Intraday | EOD |
|---|---|---|
| Cost | $199 – $599 | $299 – $799 |
| Funding Amount | 25K – 150K | 25K – 150K |
| Profit Goal | $1500 – $9000 | $1500 – $9000 |
| Drawdown Limit | $1000 – $4000 | $1000 – $4000 |
| Rules | No minimum trading days News Trading not allowed EAs are not permitted 30 days trading period | No minimum trading days News Trading not allowed EAs are not permitted 30 days trading period |
| Platforms | Rithimic, Tradovate, Wealthchart | Rithimic, Tradovate, Wealthchart |
| Profit Split | Up to 100% | Up to 100% |
| Customer Support | 24/5 Help Desk and Ticket-based System | 24/5 Help Desk and Ticket-based System |
| Payment Options | VISA, Mastercard, Discover | VISA, Mastercard, Discover |
| Activation Fee | $89-139 | $109-159 |
| Reset Fee | N/A | N/A |
7. FundedNext: Cheapest Prop Firm With The Most Custom Offers
Next on our list of cheapest prop firms is Funded Next. It allows traders to create accounts with a fee as little as $32.99, without factoring in the bonuses/promos available when you sign up. The prop firm gives traders access to both CFD and futures markets.
On FundedNext, there are four different types of accounts under the CFD assets: an Instant Funded account and three evaluation accounts, where you need to complete a challenge before you can start trading with prop funds. Depending on your account type, you need to be profitable for some number of days before you can make a withdrawal.
You can sign up using our promo code “TRDNGDE” to get 7% off at first and 5% off on recurring expenses.
Based on our research, FundedNext promises to credit your account within the next 24 hours upon making a request for withdrawal, or they will add an extra $1000 to your balance. This is one of the more aggressive payout guarantees we came across.
Key Facts About FundedNext (CFDs):
| Feature | Stellar 2 | Stellar 1 | Stellar Lite | Instant |
|---|---|---|---|---|
| Cost | $59.99 – $1099.99 | $65.99 – $1099.99 | $32.99 – $798.99 | $59.99 – $599.99 |
| Funding Amount | 6K – 200K | 6K – 200K | 5K – 200K | 2K – 20K |
| Profit Goal | Phase 1 – 8% Phase 2 – 5% | 10% of account size | Phase 1 – 8% Phase 2 – 4% | N/A |
| Max. Drawdown | 10% | 6% | 8% | 6% |
| Rules | 5 minimum trading days News Trading is allowed EAs are not permitted Unlimited trading period | 2 minimum trading days News Trading is allowed EAs are not permitted Unlimited trading period | 5 minimum trading days News Trading is allowed EAs are not permitted Unlimited trading period | No minimum trading days News Trading is allowed EAs are not permitted Unlimited trading period |
| Platforms | MT4, MT5, cTrader, Match Trader | MT4, MT5, cTrader, Match Trader | MT4, MT5, cTrader, Match Trader | MT4, MT5, cTrader, Match Trader |
| Profit Split | Up to 95% | Up to 95% | Up to 95% | 80% |
| Support | 24/7 Live Chat and Discord Community | 24/7 Live Chat and Discord Community | 24/7 Live Chat and Discord Community | 24/7 Live Chat and Discord Community |
| Payment Methods | Google Pay, Apple Pay, Skrill, Amex, Grab Pay, MasterCard, PayPal, Neteller, Astropay, Discover | Google Pay, Apple Pay, Skrill, Amex, Grab Pay, MasterCard, PayPal, Neteller, Astropay, Discover | Google Pay, Apple Pay, Skrill, Amex, Grab Pay, MasterCard, PayPal, Neteller, Astropay, Discover | Google Pay, Apple Pay, Skrill, Amex, Grab Pay, MasterCard, PayPal, Neteller, Astropay, Discover |
| Activation Fee | N/A | N/A | N/A | N/A |
| Reset Fee | Discounted Resets Available | Discounted Resets Available | Discounted Resets Available | Discounted Resets Available |
Key Facts About FundedNext (Futures):
| Feature | Bolt Challenge | Rapid Challenge | Legacy Challenge |
|---|---|---|---|
| Cost | $99.99 | $99.99 – $279.99 | $79.99 – $249.99 |
| Funding Amount | 50K | 25K – 100K | 25K – 100K |
| Profit Goal | $3,000 | $1,500 – $5,000 | $1,250 – $6,000 |
| Max. Drawdown | $2,000 | $1,000 – $2,500 based on EOD balance | $1,000 – $3,000 based on EOD balance |
| Rules | No minimum trading days News Trading is allowed Unlimited trading period | No minimum trading days News Trading is allowed Unlimited trading period | No minimum trading days News Trading is allowed Unlimited trading period |
| Platforms | MT4, MT5, cTrader, Match Trader | MT4, MT5, cTrader, Match Trader | MT4, MT5, cTrader, Match Trader |
| Profit Split | Up to 95% | Up to 95% | Up to 95% |
| Support | 24/7 Live Chat and Discord Community | 24/7 Live Chat and Discord Community | 24/7 Live Chat and Discord Community |
| Payment Methods | Google Pay, Apple Pay, Skrill, Amex, Grab Pay, MasterCard, PayPal, Neteller, Astropay, Discover | Google Pay, Apple Pay, Skrill, Amex, Grab Pay, MasterCard, PayPal, Neteller, Astropay, Discover | Google Pay, Apple Pay, Skrill, Amex, Grab Pay, MasterCard, PayPal, Neteller, Astropay, Discover |
| Activation Fee | N/A | N/A | N/A |
| Reset Fee | $91.99 | $91.99 – $257.99 | $73.99 – $229.99 |
8. InstantFunding.com: Huge Instant Funding Variety
Instant Funding ranks 7th on our list of cheapest prop firms. We liked the firm’s four variants of instant funding accounts for traders. They also have evaluation accounts that customers sign up for.
Their Instant Funding 1 account has the lowest minimum purchase amount, capped at $25. Upon completion of trades, traders can demand a payout on all accounts except the IF1, IF Go, and IF Micro. These withdrawals are processed within 24 hours of initiation.
You can use the promo code “WRTRADING” to save 18% when signing in.
We found that before you can make withdrawals on the Evaluation account, you need to ensure that the account has been profitable for at least three days. If your account remains inactive for more than 60 consecutive days, your account becomes restricted.
Key Facts About InstantFunding:
| Feature | Instant Funding | Instant Funding Go | Instant Funding Micro | Instant Funding 1 | One Phase | One Phase Micro | Two Phase |
|---|---|---|---|---|---|---|---|
| Cost | $44 – $5499 | $67 – $2959 | $42 – $1659 | $25 – $939 | $44 – $1079 | $39 – $519 | $48 – $1078 |
| Funding Amount | 625 – 120K | 1250 – 80K | 5K – 300K | 2K- 200K | 5K – 200K | 10K – 200K | 5K – 200K |
| Profit Goal | N/A | N/A | N/A | N/A | 10% | 7% | 8% and 5% |
| Drawdown | 10% | 10% | 6% | 4% | 8% | 7% | 10% |
| Rules | No minimum trading days Overnight Holding allowed | No minimum trading days Overnight Holding allowed | No minimum trading days News Trading allowed | No minimum trading days Weekend and overnight holding allowed | 3 minimum trading days Overnight Holding allowed | No minimum trading days News Trading allowed Weekend holding allowed | 3 minimum trading days Overnight Holding allowed Weekend holding allowed |
| Platforms | MT5, cTrader, Match Trader | MT5, cTrader, Match Trader | MT5, cTrader, Match Trader | MT5, cTrader, Match Trader | MT5, cTrader, Match Trader | MT5, cTrader, Match Trader | MT5, cTrader, Match Trader |
| Profit Split | 80% | 80% | 80% | 90% | 80% | 80% | 80-90% |
| Customer Support | 24/7 Live Chat and Email | 24/7 Live Chat and Email | 24/7 Live Chat and Email | 24/7 Live Chat and Email | 24/7 Live Chat and Email | 24/7 Live Chat and Email | 24/7 Live Chat and Email |
| Payment Options | Bitcoin, Mastercard, VISA, American Express, Google Pay, Apple Pay | Bitcoin, Mastercard, VISA, American Express, Google Pay, Apple Pay | Bitcoin, Mastercard, VISA, American Express, Google Pay, Apple Pay | Bitcoin, Mastercard, VISA, American Express, Google Pay, Apple Pay | Bitcoin, Mastercard, VISA, American Express, Google Pay, Apple Pay | Bitcoin, Mastercard, VISA, American Express, Google Pay, Apple Pay | Bitcoin, Mastercard, VISA, American Express, Google Pay, Apple Pay |
| Activation Fee | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Reset Fee | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
9. BlueBerry Funded: Discounted Prop Firm For Botch CFDs and Futures
BlueBerryFunded is 9th on our list of cheapest prop trading firms. It gives its users two major asset classes to trade with (Forex and Futures). Based on our research, Forex assets have five different account types, which can still be grouped into two, namely Evaluation and instant Funding accounts. The challenge fee ist across these account types is $30 on the Prime 2 Step account.
Once your account is funded, there is no time limit to complete a trade. However, make sure your account is not inactive for long periods. We found that before you can withdraw, you must have completed trades on at least three different days. You can then withdraw your funds on demand or every 7 days (conditions apply).
For futures, there are two major account types: the Ascent and Accelerate accounts. The minimum deposit is set to $110.40 on the Accelerate account. However, there’s an inhouse discount ongoing for new customers that slashes this price by 60%. You can use the promo code “FUTURES60” to get this benefit.
Key Facts about BlueBerry Funded (Forex):
| Feature | Prime 2 Step | 1 Step | 2 Step | Instant Lite | Instant Elite |
|---|---|---|---|---|---|
| Cost | $30 – $1170 | $40 – $1100 | $45 – $1180 | $42.50 – $850 | $100 – $1500 |
| Funding Amount | 2.5K – 200K | 5K – 200K | 5K – 200K | 1.25K- 100K | 2.5K – 50K |
| Profit Goal | Phase 1 – 8% Phase 2 – 6% | 10% | Phase 1 – 10% Phase 2 – 5% | N/A | N/A |
| Max Drawdown | 10% | 6% | 10% | 4% | 10% |
| Rules | Minimum 5 trading days News Trading is not permitted EAs are permitted Unlimited trading period | Minimum 3 trading days News Trading is not permitted EAs are permitted Unlimited trading period | Minimum 3 trading days News Trading is not permitted EAs are permitted Unlimited trading period | Minimum 5 trading days News Trading is not permitted EAs are permitted Unlimited trading period | Minimum 5 trading days News Trading is not permitted EAs are permitted Unlimited trading period |
| Trading Platform | MT5, MT4, Trade Locker, DX Trade | MT5, MT4, Trade Locker, DX Trade | MT5, MT4, Trade Locker, DX Trade | MT5, MT4, Trade Locker, DX Trade | MT5, MT4, Trade Locker, DX Trade |
| Profit Split | 80% | 80% | 80% | 80% | 80% |
| Customer Support | 24/7 Live Chat and Email | 24/7 Live Chat and Email | 24/7 Live Chat and Email | 24/7 Live Chat and Email | 24/7 Live Chat and Email |
| Payment Options | Rise, Crypto, VISA, Mastercard | Rise, Crypto, VISA, Mastercard | Rise, Crypto, VISA, Mastercard | Rise, Crypto, VISA, Mastercard | Rise, Crypto, VISA, Mastercard |
| Activation Fee | N/A | N/A | N/A | N/A | N/A |
| Reset Fee | N/A | N/A | N/A | N/A | N/A |
Key Facts about BlueBerry Funded (Futures):
| Feature | Ascent | Accelerate |
|---|---|---|
| Cost | $147 – $607 | $110.40 – $456 |
| Funding Amount | 25K – 150K | 25K – 150K |
| Profit Goal | $1500 | $1500 |
| Max Drawdown | 1000 | 1000 |
| Rules | Minimum 2 trading days News Trading is not permitted EAs are permitted 30 day trading period | Minimum 1 trading day News Trading is not permitted EAs are permitted 30 day trading period |
| Platforms | Blackarrow | Blackarrow |
| Profit Split | 90% | 90% |
| Customer Support | 24/7 Live Chat and Email | 24/7 Live Chat and Email |
| Payment Methods | Rise, Crypto, VISA, Mastercard | Rise, Crypto, VISA, Mastercard |
| Reset Fee | $47.04 | $41.40 |
| Activation Fee | N/A | N/A |
10. SabioTrade: Cheap Prop Firm With A Wide Range Of Package Discounts
SabioTrade completes our list of cheapest prop firms. They offer five different accounts with a fixed account size depending on your deposit. When we reviewed the trading conditions, we found a few standout features. Unlike most prop firms, there is no minimum trading day criterion before you can withdraw your payout. Also, you have unlimited time to complete your challenge.
You can get 30% off your first purchase when you use the promo code “WRTRADING.”
On SabioTrade, you can claim your payouts weekly. One thing to keep in mind is that, once you violate the daily loss limit, your account is terminated. We also found that SabioTrade supports a variety of payment options to ease funding your account.
Key Facts about SabioTrade:
| Feature | Essential | Plus | Advanced | Ultimate | Prime |
|---|---|---|---|---|---|
| Cost | $119 | $289 | $479 | $939 | $2989 |
| Funding amount | 20K | 50K | 100K | 200K | 650K |
| Profit Goal | 10% | 10% | 10% | 10% | 10% |
| Max Drawdown | 6% | 6% | 6% | 6% | 6% |
| Rules | No Minimum trading days News Trading is permitted but with restrictions EAs are not permitted Unlimited trading period | No Minimum trading days News Trading is permitted but with restrictions EAs are not permitted Unlimited trading period | No Minimum trading days News Trading is permitted but with restrictions EAs are not permitted Unlimited trading period | No Minimum trading days News Trading is permitted but with restrictions EAs are not permitted Unlimited trading period | No Minimum trading days News Trading is permitted but with restrictions EAs are not permitted Unlimited trading period |
| Platforms | MT4, Sabio TradeRoom | MT4, Sabio TradeRoom | MT4, Sabio TradeRoom | MT4, Sabio TradeRoom | MT4, Sabio TradeRoom |
| Profit Split | 80% | 80% | 90% | 90% | 90% |
| Customer Support | |||||
| Payment Methods | Bank Transfer, Visa, Mastercard, Cryptocurrency, Apple Pay, Google Pay, Paysafe | Bank Transfer, Visa, Mastercard, Cryptocurrency, Apple Pay, Google Pay, Paysafe | Bank Transfer, Visa, Mastercard, Cryptocurrency, Apple Pay, Google Pay, Paysafe | Bank Transfer, Visa, Mastercard, Cryptocurrency, Apple Pay, Google Pay, Paysafe | Bank Transfer, Visa, Mastercard, Cryptocurrency, Apple Pay, Google Pay, Paysafe |
| Activation Fee | N/A | N/A | N/A | N/A | N/A |
| Reset Fee | N/A | N/A | N/A | N/A | N/A |
Our Methodology to find the Cheapest Prop Firms:
Before compiling this list, we considered several factors, including price, trust, platforms provided, profit sharing, available payment methods, rules, and customer support. These are the most crucial factors we considered when testing the platforms:
- Price was a key priority in our evaluation. The cheaper the price, the easier it is for traders to commit funds, especially with a range of flexible payment options available.
- At the same time, we ensured that affordability didn’t come at the expense of trust. Every firm on this list has a solid reputation, with no history of mishandling users’ funds.
- Another key factor is the profit-sharing mechanism. The end goal of every trader is to make profits. If a large percentage of the profit goes back to the prop firm because the entry price point is low, then it’s not in the best interest of the trader. As a result, we only considered firms that had high profit sharing in favor of the trader.
- Lastly, any prop firm on this list has rules that shouldn’t be hard to abide by, especially when it comes to the daily loss limit or maximum drawdown. Once you’re in breach of any of these rules, you may lose your account.
What is the Cheapest Forex Prop Firm?
IQ Capital is the cheapest forex prop firm. It offers forex accounts for as low as $1 in return for 10K prop funds, which is way cheaper than most prop firms that charge between $50-500 for a base account.
While the initial deposit may not generate significant revenue for the prop firm, they often make up for it across a larger customer base through channels like activation fees, extension fees, or reset fees.
Other alternatives include GoatFundedTrader, which requires a minimum deposit of $36 for a two-step evaluation account, and FxIFY, which requires a minimum deposit of $39 for a three-step evaluation account.
| Prop Firm | Minimum Funded Account Fee | Activation Fee | Extension Fee | Reset Fee |
|---|---|---|---|---|
| IQ Capital | $1 | $9 | $5 | N/A |
| FxIFY | $39 | N/A | N/A | N/A |
| GoatFundedTrader | $36 | N/A | N/A | N/A |
What is the Cheapest Futures Prop Firm?
IQ Capital is the cheapest futures prop firm. You can trade futures with as low as $19, compared to other prop firms that charge around the range of $200 upwards. Other alternatives include TheTradingPit with deposits as low as $99 and BlueBerryFunded with deposits as low as $110.
| Feature | IQ Capital | TheTradingPit | BlueBerryFunded |
|---|---|---|---|
| Minimum Deposit | $19 | $99 | $110 |
| Activation Fee | $129 (80% off with Promocode ‘TRADINGDE’) | N/A | N/A |
| Extension Fee | $39 | $99 | N/A |
| Reset Fee | $49 | $79 | $41.40 |
What is the Cheapest Instant Funding Prop Account?
The cheapest instant funding prop account is IQ Capital. It requires a deposit of $999 for a 50K prop account but with our promocode “TRADINGDE”, you get a 40% on this, and you pay only 599$. Other alternatives like Funding Pips, require a deposit of $69 for 5K prop funds and GoatFundedTrader requires a deposit of $108 for a 5K prop account.
What Is The Best Prop Firm For Beginners To Try Out?
The best prop firm for beginners to try out is IQ Capital. This is because they can start with as low as $1, thereby eliminating the biggest problem (low capital) every newbie has when signing up.
So even when they lose the funds in the account, the financial impact is minimal. Also, upon completion of trades, the profit split is quite favorable (100% on first withdrawal and 80% on subsequent withdrawals).
Are there Prop Trading Firms that Allow you to Trade for Free?
No, there are no prop trading firms that allow you to trade for free. This is because, when you use their platform, you’re paying to use their funds. So, they won’t be willing to fund your account if you’re not taking some type of risk on your end as well.
However, there are prop firms that allow you to connect to a trial account like SabioTrade. This allows you to practice their challenge for free using demo funds. But when you make a profit, the proceeds are not withdrawable. Some of these prop firms include FundedNext and SabioTrade, etc.
Getting Funded with the WR Trading Mentorship
Ready to stop guessing and start trading with confidence? With WR Trading’s Mentorship, you don’t just learn strategies; you will build a clear, rule-based system designed to help you pass prop firm challenges and trade with confidence. You will master risk management strategies and precision entries that would help scale up your account.
WR Trading gives you the perfect roadmap to achieve your goal of getting funded and staying profitable. Your trading journey doesn’t need much luck; it needs proper guidance.
Conclusion: The Cheapest Prop Firm is IQ Capital
IQ Capital is the cheapest prop firm available across all categories and trading assets (Futures, Instant Funding accounts, and Forex). For forex accounts, the minimum deposit is as low as $1, making it an enticing offer for beginners looking to sign up. Futures, on the other hand, is slightly higher at $19 and instant funding at $999 for a 50K prop account.
IQ Capital is a great choice if you are looking to trade with prop firms, especially as a beginner. Aside from the entry price, their trading rules are clear and easy to follow. On many platforms, unclear terms can lead to repeated fees simply because you unknowingly break certain rules. This can quickly add up and defeat the purpose of choosing a low-cost prop firm. With IQ Capital, that risk is reduced, as their guidelines are transparent and straightforward.
