How much a prop account costs: challenge prices and hidden expenses

How much a prop account costs: medians across the PMC catalog

A prop account is not sold like a deposit or a brokerage account. You buy an attempt: a challenge (a check against risk rules) or an instant account with no check. The fee is paid once. You do not need your own deposit to trade.

We took all 125 programs from seven prop firms in the PMC challenge catalog and divided the price by the account size. The result is the challenge cost in dollars for every $1,000 of account size. Prices in euros at FTMO and SpiceProp are converted at the ECB rate as of 10/30/2026: 1 euro = $1.1172.

The median two-step challenge is $7.98 per $1,000 of account. One-step costs $9.49, instant costs $29.98. By median, instant is 3.8 times more expensive than two-step. If we keep only dollar-denominated programs and remove the euro ones, the difference is smaller, 3.2 times, but the order is the same.

The larger the account, the cheaper each thousand. At Hash Hedge, a two-step $10,000 account costs $9.9 per $1,000, while $200,000 is already $6.97. At FTMO the difference is even more noticeable: 8.9 euros per thousand on a $10,000 account and 4.39 euros on $100,000. On the other hand, a failure on $100,000 at FTMO costs 439 euros, while on $10,000 it is only 89. Starting with the largest account for a cheaper thousand is a bad idea if you have not yet passed a challenge.

There is also an exception. SpiceProp's three-step programs have a median of $0.96 per thousand: for example, a 15,000 euro account for 18 euros. There are only four such rows in the catalog, and the path to a payout with three steps is longer.

Prices for a $10,000 account: prop firms in the catalog side by side

Prices can only be compared fairly at the same size and format. The most common option is a two-step challenge on $10,000. Six of the seven prop firms in the catalog offer it: Vanta Trading's Classic program is one-step.

The spread between the cheapest and the most expensive option is just $40. So choosing by price here is almost pointless. Look at the rules. The Funded Way Starter way at $92 has targets of 6% and 6%, but a daily loss limit of 3% and an overall limit of 6%. Straight way at $115 gives targets of 8% and 5% and limits of 5% and 10%. The cheap program turned out to be stricter on drawdown (how far the account can go into the red).

The one-step $10,000 account is cheapest at Vanta Trading: Classic at $76. This is a promotional price; the regular price in the card is $127. The median for one-step at this size is $132, and the most expensive option costs $169.

On a $100,000 account the picture is this: two-step challenge median $581, one-step $741, instant $2,066. All prices by program and size are collected in the challenge catalog, and if you want to compare reliability itself, start with the rating of prop firms for traders from the CIS.

FTMO: how much the challenge costs and what the prices are in euros

FTMO charges in euros. The two-step challenge on $10,000 costs 89 euros, the one-step 79 euros. At the ECB rate that is about $99 and $88. In its official comparison table FTMO lists the same starting prices: 2-Step from 89 euros, 1-Step from 79 euros, Instant from 169 euros.

The one-step is 10 euros cheaper, but that saving is only apparent. FTMO refunds the fee only for the 2-Step: together with the first payout request, via the same payment method. For 1-Step and Instant the fee is not refunded. On top of that, the 1-Step has a 3% daily limit instead of 5% and a 50% consistency rule (one profitable day must not account for too large a share of the total profit).

Large accounts at FTMO cost as follows: $100,000 for two phases - 439 euros (the card also shows the previous price of 540 euros), for one phase - 399 euros. $200,000 account: 1,080 euros and 999 euros. The $100,000 Instant account costs 2,999 euros, which is about $3,351 and the most expensive instant in the catalog.

FTMO has no subscription. In its help section, the prop firm states directly: only a one-time fee for 1-Step, 2-Step or Instant, no additional or hidden payments. There is also a free trial: you can take it as many times as you like on an account of up to $200,000, but it does not pay out and does not replace the paid product.

If you are from Russia and want to know the price of FTMO in rubles, the answer is unpleasant: under the prop firm's rules, you cannot buy its challenge. According to PMC catalog cards, Hash Hedge and Era Trade do not list excluded countries, and a two-phase $10,000 account costs the same $99 at both. Read more about replacements in the review of FTMO alternatives for Russia and Kazakhstan.

Hash Hedge prices: two-phase and one-phase challenge

At Hash Hedge all prices are in dollars, and you can pay only in USDT or USDC. There is no Instant account on sale: in the prop firm's guide this type is marked coming soon. Two formats are currently on sale.

On a $10,000 account, the one-phase challenge is $60 more expensive than the two-phase one, i.e. 1.6 times as much. The two-phase has targets of 5% and 6%, a 5% daily limit and a 10% overall limit, and an 80% trader share.

The two-phase program has a nice little perk. For the first phase, Hash Hedge pays a one-time reward: 2% of the phase target. On a $10,000 account the target is 5%, i.e. $500, and the reward is $10. On $100,000 that's $100. The one-phase and free challenges have no reward, and it must be claimed before you reach the trader stage.

Hash Hedge's options are paid. Daily Loss Protection (triggers once) adds 25% to the price. A 90% profit share instead of 80% costs another 15%. A two-phase $10,000 account with protection will cost $123.75 instead of $99. Hash Hedge does not refund fees, except in two cases: the prop firm itself canceled the challenge before the start, or you paid twice and wrote about it within 7 calendar days.

Instant funding: why an instant account costs more

Instant funding is an account without an evaluation. You pay and immediately trade on a funded account with payouts. There are no phases, no profit target before the first payout. That's what you pay for.

With instant funding, the prop firm doesn't see how you trade before allowing you to take payouts. It builds the risk into the price and the rules. FTMO Instant has a 3% daily limit, a 10% overall limit and a 30% consistency rule. Vanta Trading Instant Funded has a 3% daily limit based on start-of-day capital and a 5% or 8% trailing drawdown to choose from (a limit that rises along with profits).

An instant account makes sense if you're confident in your trading and time matters more to you than money. If you've never passed a challenge before, instant simply costs more when you make a mistake. For the same $378 you can buy three and a half two-phase attempts at the median.

Prop firms with instant funding: instant account prices

In the PMC catalog, five of the seven prop firms sell instant. At Hash Hedge it's still in development. HyroTrader has its own Zero-Step program from $89; its fee is non-refundable after activation.

The cheapest entry is The Funded Way: a $2,500 account from $49, $10,000 for $165. There, the instant fee is fully refunded after three successful payouts, with no minimum profit. Each account has its own refund.

SpiceProp sells instant from the smallest account: 1,000 euros for 40 euros. The daily drawdown there is 2.5%, overall 8%, share 80%, payouts every 14 days. Era Trade charges $229 for a $5,000 instant account, and $1,499 for $50,000.

Vanta Trading sells Instant Funded only in large sizes: $25,000 for $750, $50,000 for $1,500, $100,000 for $2,999. 50 spots for all sizes. If you choose 8% trailing instead of 5%, the surcharge will be $250, $500 or $1,000 depending on size. A $25,000 account with soft drawdown already costs $1,000.

How much a reset and a retry cost

You blew the challenge - you buy a new one at the catalog price. But with some programs, a second attempt can be bought in advance and cheaper, and that is what is called a reset.

How much the option adds to the challenge price, in percent. Data from PMC catalog cards as of 31.10.2026.

At Era Trade, the Second Chance option costs 50% of the challenge price. The prop firm itself describes it as: half the price of buying the challenge again. For a two-step $10,000 account at $99, that's $49.5. The Funded Way has a similar option, Fail One, Get One - one free retry for 48% of the base price. On Starter way at $92, that's about $44.

There is also a partial reset. The Refresh Button at Era Trade resets the daily drawdown once for 15% of the price, that is about $15 on a $10,000 account. Daily Loss Protection at Hash Hedge does something similar for 25%. In Hash Hedge's terms, the reset itself is also named as a possible paid option.

The option is bought together with the challenge. If you pass on the first try, the money for it is wasted.

Fee refund: when the prop firm gives back the challenge fee

The fee refund is the second half of the price. A two-step challenge at $99 with a refund on the first payout costs you nothing if you passed and withdrew profit. Without a refund, the same $99 stays with the prop firm forever.

The Funded Way refunds the fee with the third payout on the funded account if there were no violations. Example from the prop firm's help section: fee $499, trader's share $3,200, total received $3,699. Era Trade, according to the PMC card, also returns the registration fee together with the third successful payout: you need a passed challenge, identity verification (KYC) and a clean record with no violations.

Vanta Trading in its rules calls the fee a participation fee rather than a deposit, and does not refund it upon passing. SpiceProp sells the refund as an option: 150% of the cost back for an additional 10% of the price.

If you have read about fee refunds at Breakout Prop or The5ers (refund in English), note: these prop firms are not in the PropMarketCap catalog, and we do not have our own rating for them.

Full cost of an attempt: calculating with an example

The price on the card is the cost of one attempt. The real cost of a challenge depends on how many attempts it takes you to pass. Let's take a $10,000 two-step account at Era Trade and imagine the first attempt failed.

With the option you saved $49.5. Without a failure, that same $49.5 would have been wasted, and the attempt would have cost $148.5 instead of $99. At The Funded Way on Starter way the calculation is the same: $92 plus about $44 for Fail One, Get One, about $136 total versus $184 for two purchases.

Now add the refund. If you pass and reach the third payout, Era Trade returns the registration fee. On the two-step FTMO, 89 euros are returned already with the first payout. For those who pass, the cost of the account goes to zero. Those who blow it pay again for each attempt.

Calculate your own scenario in the PMC challenge calculator: it selects a program for your budget and rules, and comparing the result with and without options is easier when the prices are in front of you.

Hidden prop account costs

Deposit and reset are visible right away. The rest hides in the trading and payout rules.

Trading costs inside the simulation cut into results just like on the real market. At Vanta Trading the commission on crypto is 0.03%, on stocks 0.01%, on commodities 0.005%, on indices zero. Securities borrowing for a short position costs 3% per annum, borrowed money for stocks - 6.6% per annum. Slippage on dollar majors is 1 basis point from 17:00 to 18:00 New York time and 0.5 points the rest of the time.

For example: a $100,000 forex position at Vanta Trading costs about $8 in swap per day of carry (3% per annum divided by 365 days). A trifle on a single trade. But if a strategy holds positions for weeks, over a month it adds up to an amount comparable to the deposit.

Withdrawal can also be free. Era Trade does not charge a commission for withdrawing payouts and processes them within up to 5 business days, in USDT, BTC, ETH or LTC. FTMO, according to its help page, charges nothing beyond the deposit.

Promo code and discount: how not to overpay

Prop company prices often change because of promotions. At the end of October 2026, The Funded Way offered a 40% discount with a promo code until November 2, Vanta Trading - 40% on Classic until November 6. That is why the challenge price in the catalog may already include a promotion: at Vanta Classic the card shows the previous price as well.

Discount via the PMC link in the catalog cards as of 10/31/2026, in percent. FTMO has no discount via the link.

The promo code and discount link are in each prop firm's card: The Funded Way, SpiceProp, Vanta Trading, HyroTrader, FTMO. Before paying, check the price at the prop firm's checkout against the price in the card: if the promotion is already applied, the discount won't stack a second time. To avoid missing the next promotion, subscribe to the PropMarketCap Telegram channel: fresh news about prop firms arrives there.

The discount doesn't change what matters most. Profit split (the trader's share of profits), drawdown limits and payout rules matter more than saving $20. A cheap challenge with a 3% daily limit can end up costing more than an expensive one with a 5% limit if you blow it again and again.

Instant or challenge: what to choose for your budget

Prop firm accounts are usually simulated: FTMO states outright that trading takes place on demo accounts with fictitious funds. The prop firm pays out from its own funds according to the terms of the contract. HyroTrader doesn't hide in its help section that its revenue comes from challenge fees and that many traders fail the evaluation. If you want to understand the model itself, start with the breakdown of what prop trading is and how a challenge works.

If the rules still feel confusing, read the free PMC Academy lesson on how to read challenge rules. It's open to everyone; no Membership needed.

Trade crypto? There's a separate breakdown of crypto prop firms with payment and payouts in USDT.

Summary

A $10,000 prop account costs from $92 for a two-step challenge and from $165 for instant, but the full price is made up of the number of attempts, options, and refund rules. A two-step challenge with a fee refund is cheapest for those who pass. Instant, by median, is 3.8 times more expensive and forgives less. Choose a challenge in the PMC calculator for your budget and rules, and compare the reliability of prop firms in the catalog.