Are you an aspiring trader looking for a cost-effective way to start your trading career? Or are you an experienced trader looking for a new challenge without breaking the bank? Whichever category you fall under, the search for the cheapest prop firm can be overwhelming and time-consuming. With so many options available, it can be challenging to determine which prop firm offers the best value for your money.
In this blog post, we will explore some of the cheapest prop firms in the market and compare their features, fees, and funding levels. Our goal is to help you find the most affordable option that meets your trading needs and budget. So let's dive into the world of prop trading and find the best deal for you!
List best Forex Prop Firms in 2024
✅The5%ers Open An Account
✅The Forex Funder Open An Account
✅True forex Funds Open An Account
✅ E8 Funding (E8 Markets) Open An Account
✅ Fidelcrest Open An Account
✅LuxTradingFirm Open An Account
✅ Sabiotrade Open An Account
✅FTMO Open An Account
FTMO - Often Under $100 Compared to FTMO's $399+
Overview
FTMO is a well-known prop firm that offers traders the opportunity to trade with a funded account. They have gained popularity in recent years due to their low-cost initiation fee and high funding levels. Unlike other prop firms, FTMO does not require traders to pay a monthly subscription fee. Instead, they charge a one-time initiation fee, making it an attractive option for traders on a budget.
Initiation Fee
The initiation fee for FTMO is often under $100, compared to other prop firms that charge hundreds or even thousands of dollars. This fee covers the costs of evaluating your trading skills and providing you with a funded account. The exact amount varies depending on the type of account you choose, but it typically ranges from $99 to $499.
The Level of Funding
One of the main advantages of trading with FTMO is their high funding levels. They offer three different account types: the Mini, the Classic, and the Pro. The Mini account has a funding level of $25,000, while the Classic and Pro accounts have funding levels of $100,000 and $200,000, respectively. This is significantly higher than other prop firms that offer funding levels ranging from $10,000 to $50,000.
Pros and Cons
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In conclusion, FTMO offers a cost-effective way for traders to start their trading journey with high funding levels and a low initiation fee. However, their strict evaluation process and limited trading platforms may not be suitable for all traders.
Earn2Trade Mini Combine: $99 for a $25,000 Virtual Account
Overview
Earn2Trade is another popular prop firm that offers traders the opportunity to trade with a funded account. They have different account types, but their Mini Combine is the most affordable option, making it an attractive choice for traders on a budget. The Mini Combine is designed for traders who are just starting and want to test their skills before committing to a larger account.
Initiation Fee
The initiation fee for the Mini Combine is $99, which is significantly lower than other prop firms. This fee covers the costs of evaluating your trading skills and providing you with a $25,000 virtual account. It also includes access to their online trading course, which can help you improve your trading skills.
The Level of Funding
As mentioned earlier, the Mini Combine comes with a $25,000 virtual account. This may not seem like a significant amount compared to other prop firms, but it is still a decent starting point for beginner traders. Once you pass the evaluation process and meet the profit target, you can move on to a larger funded account with higher funding levels.
Pros and Cons
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In conclusion, the Earn2Trade Mini Combine is an affordable option for beginner traders looking to start their trading journey. However, the limited funding levels and monthly subscription fee may not be suitable for more experienced traders.
True Trading Group: $49 for a $25,000 Virtual Account
Overview
True Trading Group (TTG) is a prop firm that offers traders the opportunity to trade with a funded account. They have different account types, but their most affordable option is the TTG Mini, which costs only $49. This makes it one of the cheapest prop firms in the market, making it an attractive choice for traders on a budget.
Initiation Fee
The initiation fee for the TTG Mini is only $49, making it one of the lowest fees among prop firms. This fee covers the costs of evaluating your trading skills and providing you with a $25,000 virtual account. It also includes access to their online trading course, which can help you improve your trading skills.
The Level of Funding
The TTG Mini comes with a $25,000 virtual account, which is a decent starting point for beginner traders. Once you pass the evaluation process and meet the profit target, you can move on to a larger funded account with higher funding levels.
Pros and Cons
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In conclusion, the True Trading Group Mini is an excellent option for beginner traders looking for a low-cost way to start their trading journey. However, the limited funding levels and monthly subscription fee may not be suitable for more experienced traders.
Funded Trading Plus: $5,000-$25,000 Virtual Account
Overview
Funded Trading Plus is a prop firm that offers traders the opportunity to trade with a funded account. They have different account types, but their most affordable option is the Basic account, which costs $99. This account comes with a virtual account ranging from $5,000 to $25,000, depending on the package you choose.
Initiation Fee
The initiation fee for the Basic account is $99, which covers the costs of evaluating your trading skills and providing you with a virtual account. This fee also includes access to their online trading course, which can help you improve your trading skills.
The Level of Funding
As mentioned earlier, the Basic account comes with a virtual account ranging from $5,000 to $25,000. This may not seem like a significant amount compared to other prop firms, but it is still a decent starting point for beginner traders. Once you pass the evaluation process and meet the profit target, you can move on to a larger funded account with higher funding levels.
Pros and Cons
Pros:
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In conclusion, Funded Trading Plus offers an affordable way for traders to start their trading journey with a low initiation fee and access to an online trading course. However, the limited funding levels and monthly subscription fee may not be suitable for more experienced traders.
Apex Trading: $195 for a $25,000 Virtual Account
Overview
Apex Trading is a prop firm that offers traders the opportunity to trade with a funded account. They have different account types, but their most affordable option is the Basic account, which costs $195. This account comes with a virtual account of $25,000, making it an attractive choice for traders on a budget.
Initiation Fee
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The initiation fee for the Basic account is $195, which covers the costs of evaluating your trading skills and providing you with a $25,000 virtual account. It also includes access to their online trading course, which can help you improve your trading skills.
The Level of Funding
The Basic account comes with a $25,000 virtual account, which is a decent starting point for beginner traders. Once you pass the evaluation process and meet the profit target, you can move on to a larger funded account with higher funding levels.
Pros and Cons
Pros:
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In conclusion, Apex Trading offers an affordable way for traders to start their trading journey with a low initiation fee and access to an online trading course. However, the limited funding levels and monthly subscription fee may not be suitable for more experienced traders.
The 5%ers Mini: $249 for a $10,000 Virtual Account
Overview
The 5%ers is a prop firm that offers traders the opportunity to trade with a funded account. They have different account types, but their most affordable option is the Mini account, which costs $249. This account comes with a virtual account of $10,000, making it an attractive choice for traders on a budget.
Initiation Fee
The initiation fee for the Mini account is $249, which covers the costs of evaluating your trading skills and providing you with a $10,000 virtual account. It also includes access to their online trading course, which can help you improve your trading skills.
The Level of Funding
The Mini account comes with a $10,000 virtual account, which may not seem like a significant amount compared to other prop firms. However, it is still a decent starting point for beginner traders. Once you pass the evaluation process and meet the profit target, you can move on to a larger funded account with higher funding levels.
Pros and Cons
Pros:
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In conclusion, The 5%ers Mini offers an affordable way for traders to start their trading journey with a low initiation fee and access to an online trading course. However, the limited funding levels and monthly subscription fee may not be suitable for more experienced traders.
Blue Sky Prop: $249 for a $25,000 Virtual Account
Overview
Blue Sky Prop is a prop firm that offers traders the opportunity to trade with a funded account. They have different account types, but their most affordable option is the Basic account, which costs $249. This account comes with a virtual account of $25,000, making it an attractive choice for traders on a budget.
Initiation Fee
The initiation fee for the Basic account is $249, which covers the costs of evaluating your trading skills and providing you with a $25,000 virtual account. It also includes access to their online trading course, which can help you improve your trading skills.
The Level of Funding
The Basic account comes with a $25,000 virtual account, which is a decent starting point for beginner traders. Once you pass the evaluation process and meet the profit target, you can move on to a larger funded account with higher funding levels.
Pros and Cons
Pros:
Cons:
In conclusion, Blue Sky Prop offers an affordable way for traders to start their trading journey with a low initiation fee and access to an online trading course. However, the limited funding levels and monthly subscription fee may not be suitable for more experienced traders.
The Prop Trading Group: $299 for a $50,000 Virtual Account
Overview
The Prop Trading Group (PTG) is a prop firm that offers traders the opportunity to trade with a funded account. They have different account types, but their most affordable option is the Basic account, which costs $299. This account comes with a virtual account of $50,000, making it an attractive choice for traders on a budget.
Initiation Fee
The initiation fee for the Basic account is $299, which covers the costs of evaluating your trading skills and providing you with a $50,000 virtual account. It also includes access to their online trading course, which can help you improve your trading skills.
The Level of Funding
The Basic account comes with a $50,000 virtual account, which is a decent starting point for beginner traders. Once you pass the evaluation process and meet the profit target, you can move on to a larger funded account with higher funding levels.
Pros and Cons
Pros:
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In conclusion, The Prop Trading Group offers an affordable way for traders to start their trading journey with a low initiation fee and access to an online trading course. However, the limited funding levels and monthly subscription fee may not be suitable for more experienced traders.
Earn2Trade Prop Combine: $399 for a $50,000 Virtual Account
Overview
Earn2Trade also offers a prop combine program for traders looking to start their trading journey with a funded account. Their Prop Combine costs $399 and comes with a virtual account of $50,000. This is significantly lower than other prop firms that offer similar programs.
Initiation Fee
The initiation fee for the Prop Combine is $399, which covers the costs of evaluating your trading skills and providing you with a $50,000 virtual account. It also includes access to their online trading course, which can help you improve your trading skills.
The Level of Funding
The Prop Combine comes with a $50,000 virtual account, which is a decent starting point for beginner traders. Once you pass the evaluation process and meet the profit target, you can move on to a larger funded account with higher funding levels.
Pros and Cons
Pros:
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In conclusion, the Earn2Trade Prop Combine offers an affordable way for traders to start their trading journey with a low initiation fee and access to an online trading course. However, the limited funding levels and monthly subscription fee may not be suitable for more experienced traders.
Conclusion
In conclusion, finding the cheapest prop firm challenge can be a daunting task, but it is not impossible. With so many options available, it is essential to consider the fees, funding levels, and features offered by each prop firm before making a decision. From our research, we have found that FTMO, Earn2Trade Mini Combine, and True Trading Group are some of the most affordable options for traders on a budget.
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