Best Prop Firms Compared
Funded trader programs ranked on track record, rule fairness, cost, payout record and platforms. Challenges are paid evaluations, and most traders don't pass.
How we make money: we may earn a commission from some prop firms listed on WizardTrader. Paid partners appear only in the labeled partner section and are not part of the ranking. Advertiser disclosure · Methodology
Sponsored partners
Sponsored placements from firms we have a commercial relationship with. They are not scored or ranked. Read each review's caution notes before buying a challenge.
Clarity Traders
Partner listing: TradeLocker prop firm with 1-step and 2-step challenges
Trustpilot has withheld Clarity Traders' rating and removed fake reviews. Some reviewers report payouts denied over trades closed in under 60 seconds and rule changes after purchase. Published rules differ between sources.
Editorial ranking
Data last verified November 2026. Scores are out of 100. Rules change often, so confirm current terms on the firm's site.
Prop firm
Score
Price from
Max drawdown
Profit split
Will your strategy survive the rules?
Check how a normal losing streak compares with a firm's drawdown limit before you pay for a challenge.
Find the right prop firm for you
Shortlists by need, and side-by-side breakdowns of price, profit targets, loss limits, payouts and platforms.
Best prop firms by use case
Head-to-head comparisons
How prop firm challenges work
A prop firm evaluation asks you to hit a profit target without breaking a daily loss limit or a maximum drawdown. Pass, and you trade a funded account and keep a share of the profits, often 80% or more. Most firms now run the funded stage on simulated accounts and pay you from their own revenue, so the firm's financial health and payout record matter as much as its rules.
Static vs trailing drawdown
A static drawdown is measured from your starting balance and never moves. A trailing drawdown follows your highest balance or equity, so your loss limit rises as you make money. An end-of-day trailing drawdown only updates at the daily close. Trailing rules are easier to breach after a winning run, so read the exact definition before you buy a challenge.
What to check before you buy a challenge
Compare the price per dollar of funding, whether the fee is refunded with your first payout, minimum trading days, news-trading and weekend-holding rules, and how often you can withdraw. Then check the firm's public payout history and reviews. Some prop firms have closed or faced regulatory action, so never pay for a challenge you could not afford to lose.
Our rankings score each firm on rules, pricing, payout reliability and reputation. See the methodology, or read why most traders fail challenges.
Frequently asked questions
Are prop firm funded accounts real money?
At most retail prop firms the funded account is simulated. Your payouts are real, paid by the firm from its own revenue. That is why a firm's track record of paying traders on time is one of the most important factors in our scores.
What is the difference between a 1-step and 2-step challenge?
A 1-step challenge has a single evaluation phase, usually with a higher target or tighter drawdown. A 2-step challenge splits the evaluation into two phases, typically with a lower target in the second phase.
What is a trailing drawdown?
A loss limit that moves up as your account balance or equity reaches new highs. It protects the firm's profits but means a winning streak raises the level you must stay above.
Is the challenge fee refundable?
At many firms the fee is refunded with your first profit split once you are funded. Not all firms do this, and some only refund on certain account types. Each review lists whether the fee is refundable.
Should I use a prop firm or my own broker account?
A prop firm lets you trade larger size for a fixed fee, but with strict rules. Your own account has no rules beyond margin, but you risk your own capital. Read our prop firm vs broker guide to compare.