Top 7 Cheapest Prop Firm Challenges

Trading challenges can get expensive. If you’re looking to get funded with a prop firm, you may have to pay thousands of dollars to take a challenge. Fortunately, not all prop firms are created equal, and some offer their challenges at a fraction of the cost of others. The goal of this guide is to help you find the most affordable prop firm challenge that fits your budget and get you on your way to trading with a funded account.

One solution you can use to help you achieve your goals is Goat Funded Trader’s prop firm. This no-challenge prop firm offers some of the most affordable and reliable prop trading challenges to help you get funded quickly.

Top 7 Cheapest Prop Firm Challenges

1. Goat Funded Trader

Goat Funded Trader offers some of the most affordable and flexible prop firm challenges in the market. With an entry fee starting as low as $17, the firm provides traders access to substantial capital and a range of account options tailored to various trading styles. The firm is praised for its trader-friendly policies, including no time limits on challenges, fast and reliable payouts, and a transparent fee structure. With over 98,000 traders and $9.1 million in funded capital, Goat Funded Trader combines a supportive community, advanced technology, and flexible evaluation models to help traders succeed in their prop trading careers.

Key Features of Goat Funded Trader

• Entry fee starting as low as $17
• Initial funding up to $400,000
• Profit split up to 100%
• Multiple evaluation steps and an instant funding model
• No time limits on challenge completion
• Supports over 1300 forex pairs, 14,000 stocks, 21,000 ETFs, and 1500+ crypto pairs
• Fast payout system with same-day withdrawals
• Custom dashboard with detailed trading statistics and top trades view
• Flexible trading rules allowing news and weekend trading
• Scalable accounts with a rewarding scaling program for consistent traders

These features make Goat Funded Trader a highly cost-effective and trader-centric prop firm challenge option, ideal for both beginners and experienced traders looking for a reliable funding partner.

2. AquaFunded

AquaFunded is a prop trading firm known for providing some of the most affordable and flexible funding challenges in the industry. Traders can either complete a multi-step evaluation or skip the challenge entirely to receive instant funding. The firm emphasizes risk management and offers a high profit split with a reward guarantee. AquaFunded supports a wide range of trading instruments and allows traders to operate without time restrictions, making it an attractive option for those seeking low-cost entry and generous profit sharing.

Key Features of AquaFunded

• Entry fee starting from a low cost with options to skip the challenge for instant funding
• Initial funding available up to $3,000,000+
• Profit split up to 95%
• Evaluation available in 1, 2, or 3 steps, or an instant funding option

3. FundedNext

FundedNext is a rapidly growing proprietary trading firm headquartered in the United Arab Emirates, known for offering some of the most affordable and accessible prop firm challenges. Since its launch in 2022, FundedNext has attracted a vast global trader base, offering funding options of up to $300,000 and a transparent evaluation process. The firm supports multiple asset classes, including Forex, commodities, indices, and cryptocurrencies, and offers flexible trading platforms such as MetaTrader and cTrader. 

Key Features of FundedNext

• No entry fee and Initial funding up to $300,000 with potential for scaling
• Profit split up to 90%, which can be increased to 95% with account add-ons
• Evaluation available in 1-step, 2-step, or 3-step challenge formats
• Supports Forex, metals, indices, energy, crypto, and other commodities with varying leverage

4. The 5%ers

The 5%ers is a well-established proprietary trading firm that offers one of the most affordable and trader-friendly prop firm challenges in the forex market. It provides funded accounts with relatively low evaluation fees and emphasizes consistent, risk-managed trading over aggressive targets. Traders benefit from a clear and simple evaluation process, no subscription or recurring fees, and the ability to scale their accounts significantly as they hit profit milestones. The firm supports a wide range of trading styles, allowing traders to hold positions overnight and over weekends.

Key Features of The 5%ers

• Entry fee starting as low as $39
• Initial funding up to $250,000, scalable up to $4 million
• Profit split ranges from 80% to 100%
• Evaluation involves achieving a 6% profit target with a maximum 4% drawdown, with no time limit

5. Hola Prime

Hola Prime is a proprietary trading firm that stands out by offering some of the most affordable and innovative prop firm challenges, with a focus on transparency and rapid payouts. Traders can engage in simulated trading with demo funds while earning up to 95% of the profits they generate, all without risking their capital. The firm offers multiple challenge plans tailored to various trading strategies and preferences, including Pro, Prime, and Direct accounts, which differ in terms of leverage, trading restrictions, and payout structures.

Key Features of Hola Prime

• Entry fee starting at $48
• Initial funding from $5,000 up to $300,000, scalable to $4 million in demo funds
• Profit split up to 95% for challenge accounts, up to 90% for Direct accounts
• Evaluation available as 1-step or 2-step challenges, or a Direct account with no evaluation

6. SabioTrade

SabioTrade is a proprietary trading firm that offers one of the most affordable and trader-friendly prop firm challenges in the market. Based in Dublin, Ireland, SabioTrade provides traders with access to capital ranging from $20,000 up to $200,000, paired with a generous profit split of up to 90%. The firm features a streamlined one-step evaluation process with no time limits, allowing traders to progress at their own pace. SabioTrade’s proprietary QuadCode platform delivers advanced trading tools and supports a wide variety of assets, including forex, metals, stocks, ETFs, and cryptocurrencies. 

Key Features of SabioTrade

• Entry fee starting at $99 with a risk-free 7-day trial
• Initial funding from $20,000 up to $200,000
• Profit split up to 90%
• One-step evaluation with no time limits and multiple attempts with a PRO subscription

7. FXIFY

FXIFY is a prop trading firm that offers one of the most cost-effective and flexible funding challenges, primarily through its Instant Funding program. This unique program enables traders to bypass traditional evaluations and begin trading with real capital immediately, earning up to a 90% profit split from day one. FXIFY offers a range of account sizes, from $1,000 to $50,000, with competitive fees starting at $69. The firm supports multiple popular trading platforms and offers tailored account options with RAW or All-In pricing models.

Key Features of FXIFY

• Entry fee starting at $69
• Initial funding from $1,000 up to $50,000
• Profit split up to 90%
• Instant funding with no evaluation required
• Leverage of 50:1 and 8% trailing max drawdown

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Why Look for the Cheapest Prop Firm Challenge?

Looking for the cheapest prop firm challenge offers several key benefits, especially for traders who want to minimize financial risk. Low-cost challenges reduce the upfront investment, making it easier for traders to access capital without risking large sums of personal money. This affordability opens the door for many aspiring traders to test their skills and strategies in real market conditions without significant financial pressure.

Another advantage is accessibility. Lower entry fees mean more traders can participate, democratizing the opportunity to trade with professional capital. This inclusivity enables traders from diverse backgrounds to showcase their abilities and potentially build a career in trading, even if they lack substantial initial funds.

Moreover, these challenges provide a practical environment for trying out and refining trading strategies. Since the prop firm provides the capital, traders can focus on improving their approach while adhering to risk management rules set by the firm. This structure helps maintain discipline and consistency, which are crucial for long-term success.

However, choosing a cheaper prop firm often comes with trade-offs. Some firms may impose stricter rules, such as tighter drawdown limits or more rigid profit targets, which can make passing the challenge more demanding. Additionally, the initial funding provided might be lower, and profit splits could be less favorable compared to higher-cost programs. These factors require traders to carefully weigh cost savings against potential limitations in flexibility and earnings.

Goat Funded Trader is an example of a prop firm that fits naturally into this discussion. It offers affordable challenges that provide traders with access to capital while maintaining reasonable trading conditions. Goat Funded Trader balances cost-effectiveness with supportive structures, making it an attractive option for traders seeking to enter prop trading without excessive financial burden.

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Goat Funded Trader gives you access to simulated accounts up to $800K with the most trader-friendly conditions in the industry - no minimum targets, no time limits, and triple paydays with up to 100% profit split. Join over 98,000 traders who've already collected more than $9.1 million in rewards, all backed by our 2-day payment guarantee with a $500 penalty for delays. Choose your path to funding through customizable challenges or start trading immediately with our instant funding options. Sign up to Get Access to up to $800K Today, and 25-30% off.

Tips for Passing a Cheap Prop Firm Challenge

Know the Rules Like the Back of Your Hand

Before starting any prop firm challenge, make sure you know every detail of the rules, including drawdown limits and profit targets. Each firm has specific guidelines that must be strictly followed to avoid disqualification. Reading and comprehending these rules inside out will help you tailor your trading approach accordingly. 

Create a Solid Trading Plan 

Create a well-structured trading strategy based on thorough backtesting over several months. Your plan should clearly define entry and exit points, risk parameters, and trade management rules. Sticking to this plan consistently is essential, especially during volatile market conditions. Avoid experimenting with new strategies during the challenge to maintain stability.

Focus On Effective Risk Management 

Risk control is the foundation of passing any prop firm challenge. Always respect the drawdown limits and never risk more than a small percentage of your account on any single trade. Use stop-loss orders and position sizing to protect your capital. This disciplined approach prevents one bad trade from ruining your entire challenge.

Maintain Patience and Consistency 

Rather than rushing to hit profit targets quickly, focus on steady and consistent gains. Prop firms value reliable performance over high-risk, short-term wins. Avoid overtrading or forcing trades out of impatience. Consistency builds trust and improves your chances of passing the evaluation.

Keep a Trading Journal 

Document every trade, including your reasoning, outcomes, and emotions. Reviewing your journal regularly helps identify mistakes and areas for improvement. This self-awareness is crucial for refining your strategy and enhancing your trading discipline over time.

Start Small and Build Confidence 

If you’re new to prop firm challenges, start with a smaller account size or a less expensive challenge. This reduces pressure and allows you to gain valuable experience without incurring significant financial risk. Once confident, you can progress to larger challenges with better chances of success.

Stay Emotionally Disciplined 

Emotional control is critical. Avoid impulsive decisions driven by fear or greed. Stick to your plan and maintain composure even during losing streaks. Emotional discipline prevents costly mistakes and helps you trade logically throughout the challenge.

Use Demo Accounts for Practice 

Before committing real money, practice your strategy on demo accounts that simulate the prop firm environment. This helps you get familiar with the trading platform and challenging conditions, reducing surprises when trading live.

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What to Look for When Choosing a Cheap Prop Firm Challenge

Entry Cost and Challenge Fee

The entry fee to start a prop firm challenge varies widely. Some firms offer challenges as low as $39 to $50 for an initial capital of around $5,000, which is ideal for beginners or traders with limited funds. While you want to pick a challenge fee that fits your budget, also look for reasonable funding amounts and profit potential. Avoid firms with hidden or recurring payments. 

Funding Amount and Scaling Potential

Check the size of the funded account you can access after passing the challenge. A larger initial capital allows more flexibility in trading strategies. Additionally, investigate whether the firm offers scaling programs that will enable you to increase your funding based on consistent performance, potentially up to $1 million or more. 

Profit Split Ratios

Profit splits determine how much of your trading profits you keep. Look for firms offering high profit shares, ideally 80% or more, with some firms starting at 90% and scaling up to 100% as you grow your account. Beware of firms with low profit splits that significantly reduce your earnings. 

Evaluation Process and Time Limits

Prop firms typically have either a one-step or two-step evaluation process. Two-step challenges often include an initial profit target phase followed by a verification phase with similar rules but sometimes lower targets. Consider if the firm imposes time limits on these phases. Some firms offer unlimited time, which can reduce pressure and improve your chances of success. 

Trading Conditions and Risk Management

Review the trading rules carefully, including drawdown limits, allowed leverage, and permitted instruments (forex, indices, commodities, crypto, etc.). Some firms offer static drawdowns that don’t decrease as you make profits, providing more risk flexibility. Additionally, verify whether the firm supports your preferred trading style and platform (e.g., MT4, MT5, proprietary platforms). 

Withdrawal Policies and Profit Access

Understand how and when you can withdraw profits. Some firms allow payouts from the day of funding, while others have minimum thresholds or specific payout schedules. Also, check for any withdrawal fees or restrictions on frequency to ensure smooth access to your earnings. 

Reliability and Reputation

Choose firms with a solid track record, positive trader reviews, and transparent operations. Reliable firms pay on time and provide excellent customer support, which is essential for resolving issues promptly. Look for firms that comply with financial regulations and offer community or mentorship support systems to enhance your trading journey. 

Educational Resources and Support

Some prop firms provide educational materials, webinars, coaching, and access to trading communities. These resources can be valuable for improving your skills and increasing your success rate.

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Get 25-30% off Today - Sign up to Get Access to Up to $800K Today

Goat Funded Trader gives you access to simulated accounts up to $800K with the most trader-friendly conditions in the industry - no minimum targets, no time limits, and triple paydays with up to 100% profit split. Join over 98,000 traders who've already collected more than $9.1 million in rewards, all backed by our 2-day payment guarantee with a $500 penalty for delays. Choose your path to funding through customizable challenges or start trading immediately with our instant funding options. Sign up to Get Access to up to $800K Today, and 25-30% off.

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