FTMO, FundedNext, Topstep, FXIFY and The Funded Trader Program are among the most recognised names in prop trading. Each runs an evaluation-based model, but their rules, reward terms and payout processes differ, and the right fit depends on how you trade.
This guide puts the top alternative first, then describes each established program in the same format so you can compare them on your own terms. Every program below involves fees that can be lost, and no evaluation guarantees a reward.
What to compare before switching programs
- Account type. Most of these programs use simulated accounts. Check whether each stage is simulated or live, and what the displayed balance represents.
- Entry route. Providers offer one-, two- or three-step evaluations, and some add a route with no evaluation at all.
- Loss limits. Confirm how daily and maximum loss are calculated, when they reset, and whether drawdown is static or trailing.
- Reward terms. Check the reward share for your exact plan, any consistency rule, and when you can request a payout.
- Payout process. Look at how requests are reviewed and how long processing takes after approval.
The top alternative and five established programs
1. Hola Prime
Best for: Traders who want day-trading, swing-trading and no-evaluation routes from one provider.
How it works: Hola Prime runs a funded trader program built on simulated capital, covering forex and futures. On the forex side, traders choose the Pro Challenge for day trading, the Prime Challenge for swing trading with news trading and weekend holding allowed, or the Direct Account, which has no evaluation, profit target or minimum trading days.
What stands out: Up to 95% rewards on Pro and Prime (up to 90% on Direct), a 100% challenge fee refund on both challenges, payouts processed within one hour of approval, and daily price transparency reports.
Check before buying: Leverage reaches 100x on Pro and 50x on Prime and Direct, and higher leverage magnifies losses as well as gains. Confirm the loss limits for your route.
2. FTMO
Best for: Forex and CFD traders who want a long-established evaluation model with several entry formats.
How it works: Traders take the 2-Step or 1-Step FTMO Challenge to reach a simulated FTMO Account. The Instant Account offers direct access without a challenge, and free trials let traders practise the format before paying.
What stands out: A wide choice of entry routes, including a direct-access option with a 90% reward share.
Check before buying: Rules depend on your order date. From 12 October 2026, new 1-Step orders use a Consistency rule instead of the Best Day Rule, and FTMO states that Instant Account objectives are stricter than on its challenges.
3. FundedNext
Best for: Traders who want both CFD and futures programs from one provider.
How it works: FundedNext runs four Stellar CFD models: 2-Step, 1-Step, a lower-cost two-phase Lite model, and Instant, which skips the evaluation. Separate futures challenges are also available.
What stands out: A spread of entry prices and structures, from the Lite model to the no-evaluation Instant account.
Check before buying: Fee refund timing differs by model. The 2-Step refunds the challenge fee with the first reward, while 1-Step and Lite refund it at the third. Reward shares and drawdown types also vary by model.
4. Topstep
Best for: Futures traders who want a structured, subscription-based evaluation.
How it works: Traders start in the Trading Combine, a simulated evaluation. Passing leads to an Express Funded Account, and the Live Funded Account is a separate later stage.
What stands out: A futures focus, a 90% profit split for funded traders, and TopstepX, its own trading platform.
Check before buying: The Trading Combine is a subscription that rebills every 30 days until you cancel it, including after a rule breach. Resets are limited to two per account per calendar day.
5. FXIFY
Best for: Traders who want to choose how many evaluation phases to take.
How it works: FXIFY offers One Phase, Two Phase and Three Phase evaluations, a fast-track Lightning Challenge, and Instant Funding with no evaluation. Platforms include MT5, DXtrade and TradingView.
What stands out: A broad set of phase options, with account sizes up to $400,000 on some programs.
Check before buying: Daily loss limits and drawdown types differ by program. Instant Funding, for example, uses a trailing drawdown, so confirm the rules for your exact plan.
6. The Funded Trader Program
Best for: Traders who prefer choosing between named challenge tiers.
How it works: The Funded Trader runs one-, two- and three-step challenges under names including Knight, Royal and Dragon. Funded accounts are simulated, and platforms include MT5, Match-Trader, DXtrade and cTrader.
What stands out: Several challenge styles in one lineup, plus a scaling plan for consistent traders.
Check before buying: Profit splits and funded-stage rules vary by plan, so check the terms of the exact challenge you buy.
How to choose between them
Start with what you trade. Topstep focuses on futures, while the others centre on forex and CFDs, with some adding futures programs.
Then match the entry route to your experience. A multi-step evaluation gives you more time under the rules before reaching a funded stage. A no-evaluation route starts you on a rewards account sooner, but the account rules apply from the first trade.
Finally, read the reward and payout terms for the exact plan, not the headline figure. Treat funding as a long game: set a budget for fees before buying, and don’t raise it to recover earlier costs.
FAQ
Are these funded accounts real money?
Most programs here use simulated accounts, with rewards paid under each provider’s terms. Check whether each stage of your chosen program is simulated or live.
Can I skip the evaluation?
Several providers offer a direct route, including the top alternative’s Direct Account, FTMO’s Instant Account, FundedNext’s Stellar Instant and FXIFY’s Instant Funding. Loss limits and reward conditions still apply.
Does passing guarantee a payout?
No. Rewards depend on meeting the conditions of the account you hold, and fees can be lost if an evaluation fails.
How fast are payouts?
It depends on the provider and plan. Some advertise processing times after approval, while others pay on a fixed cycle. Check both the review step and the processing time before buying.