Learn how PropMason orders firms or review the complete prop firm directory.
Each row represents one forex program on a 100K account as the firm's own website showed it between 11 October 2026 and 12 October 2026. Every fee in the table is the firm's list price, so an active promotion lowers what you pay at checkout.
| Program | Steps | Entry fee | Max loss | How the max loss moves | Daily loss | First-step target | Profit split |
|---|---|---|---|---|---|---|---|
| FTMO 1-Step | 1 | €499 (euros) | 10% | end-of-day trailing | 3% | 10% | 90% |
| FTMO 2-Step | 2 | €540 (euros) | 10% | static | 5% | 10% | 80% |
| FundingPips 2-Step Flex | 2 | $555 | 12% | static | 4% | 10% | chosen at purchase (see FundingPips) |
| FundedNext Stellar 2-Step | 2 | $549.99 | 10% | see FundedNext's page | 5% | 8% | up to 80% |
| Funded Trading Plus 1-Step Express | 1 | $549 | 6% | trails the closed balance | 4% | 10% | 80% |
| Funded Trading Plus 2-Step Classic | 2 | $549 | 8% | static | 4% | 7% | 80% |
| Alpha Capital Alpha One 10 | 1 | $477 | 6% | trailing | 4% | 10% | 80% |
| Alpha Capital Alpha Pro 10 | 2 | $447 | 10% | static | 5% | 10% | 80% |
Programs are grouped by firm rather than ranked. FTMO charges its fee in euros for a dollar-denominated evaluation account. Alpha Capital's price depends on the payout schedule chosen at checkout. Where the table notes to inspect a firm's page, sources disagree or our dataset does not contain that figure. In the table, a static limit stays anchored to starting capital and never moves upward. An end-of-day trailing limit recalculates each midnight from the highest closing balance. A limit trailing the closed balance climbs trade by trade with realized gains until locking at the initial balance.
Three kinds of max loss limit, and what each does after a good week
A maximum loss limit establishes the account equity floor that a trader cannot violate without failing the evaluation. What separates these programs is whether that boundary remains fixed at its opening depth, climbs behind the end-of-day balance, or follows the closed balance upward until reaching the initial starting balance.
The static limit represents the traditional model. On FTMO 2-Step, FundingPips 2-Step Flex, Funded Trading Plus 2-Step Classic and Alpha Capital Alpha Pro 10, official rulebooks define a floor calculated once from starting capital. Account gains expand the distance between current equity and liquidation, leaving profits as a buffer.
The end-of-day trailing limit recalculates that boundary on daily settlement. FTMO's trading objectives page states that its 1-Step evaluation recalculates the maximum loss floor each midnight based on the highest recorded closing balance. This boundary only ratchets upward and never drops when open positions pull back.
The closed-balance trailing limit adjusts continuously as trades conclude. Documentation for Funded Trading Plus 1-Step Express and Alpha Capital Alpha One 10 shows the floor trailing the high-water mark of closed profits until locking at the starting balance. For FundedNext Stellar 2-Step, program documentation and help center entries describe mechanics differently, so inspect the firm's CFD portal directly. Review how trailing limits behave and compare trailing versus end-of-day calculations before selecting a model.
The distinction between models centers on how profitable periods affect cushion. The static floor lets a winning week widen the cushion above the liquidation point, while the trailing floor keeps that cushion at its starting width as equity climbs.
One winning week at FTMO: the same cap, two floors
FTMO's catalog demonstrates why identical headline percentages produce different cushions. Both the 1-Step and standard 2-Step programs publish a 10% loss cap on a $100,000 account, verified from official specifications on 12 October 2026. However, trading performance creates two distinct paths.
Both challenges begin with a 100K balance and set the initial liquidation floor at $90,000. During a profitable week, suppose the account secures a closed trading gain of $5,000.
| Metric | FTMO 2-Step (Static) | FTMO 1-Step (EOD Trailing) |
|---|---|---|
| Initial account balance | $100,000 | $100,000 |
| Closed profit event | $5,000 | $5,000 |
| Resulting loss floor | $90,000 | $95,000 |
| Remaining loss cushion | $15,000 | $10,000 |
Following that gain, the 2-Step loss floor stays pegged at $90,000, preserving $15,000 of operational room. After the next midnight reset, the 1-Step floor sits at $95,000, leaving only $10,000 of cushion from current equity. The realized gain expands cushion on the static structure, but leaves the trailing margin capped at its starting width. This comparison describes distinct program mechanics rather than relative safety; the 1-Step provides a 90% profit split compared to 80% on the 2-Step while requiring only a single phase.
What the daily loss is measured from
Daily loss limits create varied risk thresholds across firms because each operator measures drawdowns from different baselines. Even when two programs share an identical daily percentage, the dollar breach level shifts based on whether the formula tracks initial balance, midnight platform equity, the higher of balance and floating equity, or prior closed session balance.
| Program | Daily loss | In dollars | Measured from (firm documentation) |
|---|---|---|---|
| FTMO 1-Step | 3% | $3,000 | balance recorded at midnight Central European Time, with the daily allowance subtracted from that balance; breached when equity reaches it |
| FTMO 2-Step | 5% | $5,000 | same basis as the 1-Step |
| FundingPips 2-Step Flex | 4% | $4,000 | higher of that day's opening balance and opening equity; floating losses count; resets at midnight platform time |
| FundedNext Stellar 2-Step | 5% | $5,000 | see FundedNext's page (firm sources explain calculation baselines inconsistently) |
| Funded Trading Plus 1-Step Express | 4% | $4,000 | closed balance of the prior trading day |
| Funded Trading Plus 2-Step Classic | 4% | $4,000 | closed balance of the prior trading day |
| Alpha Capital Alpha One 10 | 4% | $4,000 | greater of balance and equity at the start of the trading day |
| Alpha Capital Alpha Pro 10 | 5% | $5,000 | balance at the start of the day (balance-based) |
The consequences of breaching a daily drawdown threshold depend on exact program contract terms. Official rulebooks for FTMO, FundingPips and Alpha Capital state that violating the daily allowance fails the account. Review how PropMason orders firms across its directory listings to evaluate overall terms.
Many small winning days or a few big ones
Profit targets look straightforward on checkout cards, but the structural rules dictating how you accumulate gains determine practical difficulty. Whether your trading edge produces occasional large gains or steady incremental returns dictates which evaluation constraints will challenge your routine.
When your returns concentrate into occasional large sessions, consistency rules govern pacing. FTMO 1-Step enforces a best-day rule of 50%, which does not fail the account but requires continued trading until that peak session represents an acceptable fraction of total profit.
When your returns derive from many modest sessions, minimum trading calendars set the pacing floor. FTMO 2-Step requires 4 trading days, FundedNext Stellar 2-Step specifies 5 days, while Alpha Capital mandates 3 days on Alpha Pro 10 and a single day (1) on Alpha One 10 before an evaluation can conclude.
Initial profit targets contrast against available room across each program. On FTMO 2-Step the first-step target equals 100% of the maximum loss allowance, and FundedNext Stellar 2-Step sets its first target at 80% of room. By contrast, Alpha One 10 and Funded Trading Plus 1-Step Express set targets equal to one and two-thirds times the room (166.67% and 166.67%). Compare one step against two to evaluate model structures.
If your plan is not a forex program at this size
The programs examined above represent evaluations with published rule parameters at a single account tier. Traders operating at different capital tiers or seeking alternative instruments encounter similar loss limit models with varied cost structures. Additional proprietary trading firms offering forex and multi-asset evaluations include The5ers, E8 Markets, Blue Guardian, Goat Funded Trader, City Traders Imperium, FTUK, Lux Trading Firm, Instant Funding and Ment Funding.
| Your trading plan | Where to look next |
|---|---|
| Seek the lowest overall cost across futures and forex | The cheapest prop firm comparison |
| Specialize in centralized exchange contracts | Our guide to futures prop firms |
| Compare single-stage models against two-phase assessments | A breakdown of one-step versus two-step challenges |
| Analyze intraday versus session-close loss mechanics | Our analysis of trailing versus EOD drawdown |
| Bypass evaluation phases entirely | A side-by-side on instant funding versus challenge accounts |
| Trade from within American jurisdictions | Rule coverage in our US trader prop firm guide |
| Compare specific operators head to head | Head-to-head comparisons for FTMO vs FundedNext and FTMO vs The5ers |
| Explore complete directory listings or current promotions | The complete directory of tracked prop firms or active prop firm discounts |
The same firm, the same account size, two sets of room
Identical account sizes can disguise substantial differences in loss tolerance within the same provider. At Funded Trading Plus, both the 1-Step Express and 2-Step Classic programs provide a 100K account, isolating the evaluation rules as the primary point of comparison.
Program mechanics separate along divergent lines. The 1-Step Express provides $6,000 of total loss allowance trailing closed account balance until locking at starting equity, paired with a single profit milestone equal to 166.67% of that room. Across two phases, the 2-Step Classic sets a static $8,000 loss boundary that never ratchets upward, alongside two sequential milestones requiring $14,000 in cumulative profit, with the initial phase target set at 87.5% of available room.
Both programs set a daily limit of $4,000, calculated from the previous day's closed balance.
What this side-by-side comparison leaves open is trader execution fit. Our dataset does not track pass rates; the 2-Step requires navigating two distinct assessment stages, whereas the 1-Step presents a narrower trailing loss boundary that climbs with profits. Choosing between them depends on whether your strategy tolerates a moving liquidation threshold in exchange for completing a single phase.
Related Reading
Explore our detailed research guides below to examine drawdown mechanics, evaluation cost structures, payout timelines and active promotional offers across prop trading firms.
- Drawdown limit mechanics compared: Learn how trailing and end-of-day calculations alter risk on identical account sizes.
- Evaluation stage structures: Review the tradeoffs between single-step challenges and two-phase evaluation paths.
- Total challenge cost analysis: Calculate the comprehensive cost of passing an evaluation including subscription and reset fees.
- Futures prop firm comparison: Understand differences between centralized exchange contracts and forex evaluation programs.
- Firm payout policies: Inspect payout cycles, withdrawal thresholds and profit split terms across major firms.
- Active prop firm discounts: Check current verified promotion codes and seasonal pricing across evaluation programs.
Sources
All evaluation terms, drawdown parameters and fee metrics cited on this page derive from official firm portals and dated crawler checks. Official program documentation was consulted across the following primary sources:
- FTMO 1-Step checkout pricing, read 12 October 2026.
- FTMO 2-Step challenge pricing, read 12 October 2026.
- FTMO trading objectives and loss limits, read 12 October 2026.
- FundingPips 2-Step Flex program rules, read 15 October 2026.
- FundedNext CFD programs and Stellar rules, read 9 October 2026.
- Funded Trading Plus evaluation portal, read 14 October 2026.
- Funded Trading Plus 1-Step Express specifications, read 14 October 2026.
- Funded Trading Plus 2-Step Classic specifications, read 14 October 2026.
- Alpha Capital Group pricing and portal, read 11 October 2026.
- Alpha Capital Alpha Pro specifications, read 11 October 2026.
- Alpha Capital Alpha One specifications, read 11 October 2026.
- Alpha Capital daily risk limit calculations, read 11 October 2026.
- Commodity Futures Trading Commission (CFTC) fraud and risk advisories.
- National Futures Association (NFA) investor education and regulatory notices.
Disclosure and risk
PropMason may earn commissions from some links; see the affiliate policy. Commercial relationships change neither the order of firms nor the wording about them on this page. Forex evaluations involve fees and simulated-account rules; this article is research information, not financial advice or a guarantee of execution or payout. Trading futures and forex carries a risk of loss. The CFTC and the NFA publish warnings and fraud advice for traders in the United States. Read how PropMason checks and edits its pages in the editorial policy.
FAQ
What is the best prop firm for forex?
There is no single answer to what the best forex prop firms are because trading styles demand contrasting contract terms; see how PropMason orders firms. Traders evaluating programs should compare whether the maximum loss threshold remains static or trails equity, identify whether daily loss limits track midnight balance or equity, and calculate how profit targets compare against available room. The right choice depends on whether your strategy needs a static loss cushion that expands with closed profits or can navigate an end-of-day trailing floor.
Which prop firms allow forex?
Each firm featured in our side-by-side comparison provides forex or currency CFD trading programs: FTMO, FundingPips, FundedNext, Funded Trading Plus and Alpha Capital. These operators represent a subset of available market providers. To explore other firms, platforms and instrument coverage, browse our full prop firm directory.
How much is a 10K prop firm account?
Entry pricing for a 10K evaluation starts at €89 for FTMO 2-Step and €79 for FTMO 1-Step. Alpha Capital lists $77 for Alpha Pro 10 and $87 for Alpha One 10, depending on the payout schedule selected at checkout. Evaluation fees scale with account capital, as shown in the 100K comparison table above.
Which prop firms actually pay out?
No publication or prop firm can promise future payouts because compensation depends entirely on maintaining account compliance and meeting withdrawal criteria. When comparing programs, inspect the published profit split, the initial waiting period before requesting funds, and subsequent withdrawal processing frequencies. You can review payout terms, schedules and minimum thresholds across firms in our payouts guide.
Next step
Before committing capital to an evaluation challenge, model your strategy against the specific drawdown rules and daily calculation baselines of your preferred program. Select the evaluation model matching your risk parameters, open its official specifications, identify whether the daily limit measures from midnight balance or equity, and calculate your effective liquidation cushion using our guide to prop firm drawdown rules.