A sales page shows what the firm wants to put forward. A checklist forces you to look for the rest. This guide ranks no firm and recommends none: it lists what to check in the terms each firm publishes. A missing answer is information in itself.
1. The drawdown type
Find out how the maximum loss is calculated: static or trailing drawdown, on balance or on equity, end-of-day or real-time. Two accounts of the same size and the same allowed loss percentage can leave different room. See rules explained.
2. The real cost
The displayed price is not the total cost. Add up:
- the challenge fee, and the fee of each reset;
- funded-account activation fees, if any;
- subscriptions or recurring fees;
- costs linked to the payout (payment, conversion).
Then ask how many attempts you are prepared to pay for. The real cost is that of several possible attempts, not of one.
3. The payout rules
Look for: the minimum profit or balance, the number of trading days required, the consistency rule, the delay between two payouts, the processing delay, the grounds for refusal, the dispute procedure. The profit split only makes sense together with these conditions.
4. Transparency of the terms
Are the terms public, complete, dated, with no links to pages you cannot find? Does the firm state clearly what is funded (see simulated or live account), who operates the firm and where to find its contact details? Information you can only get by contacting support is information you cannot compare.
5. History of rule changes
A firm that changes its rules should be able to show when and how. Look for a change log, dated announcements, a notice period, and how running accounts are treated. On this site, firm pages show sourced, dated facts (the "roasts"): the capture date tells you up to when the fact was checked.
6. Support
Test before paying: ask a precise question about a rule and note the delay and the precision of the answer. Keep the answer. Check which channels exist (email, chat, form) and whether exchanges are archived.
7. Payment method
Check the payment methods for purchase and for payouts: they may differ. Look at fees, delays, and what the firm says about refunds and disputes. The payment method you choose may or may not open recourse; read the payment provider's terms rather than assuming.
8. Verified reviews
A review is a user's opinion. A review backed by proof (purchase receipt, payout screenshot) can be checked, unlike a review without proof; that check is not infallible. On this site, a review is "verified" when an administrator has validated a proof sent by its author, and it weighs more in the community score; contested reviews stay visible and counted. Also read the firm's replies and how old the reviews are. Details in the methodology.
9. The firm's status
A closed firm, or one whose status is unconfirmed, does not offer the same guarantee of continuity. The status is shown on each page of the prop firm list.
10. Allowed strategies and tools
Check what the terms allow or prohibit: bots, trade copying, hedging, trading around announcements, holding positions overnight or over the weekend. A rule that prohibits your usual method makes the rest of the comparison pointless.
How to use the checklist
- Pick two or three firms to compare on the list (filters by asset class and status).
- For each, open the terms on the firm's own website and answer the ten points above. Note the missing answers.
- Compare the cost of several attempts, not just the price of the first challenge.
- Date and archive the terms at the time of purchase.
- Record the answers in a dated note, one line per point and per firm: a written comparison shows what is missing faster than a general impression.
This checklist predicts neither the success of a challenge nor the reliability of a firm: it reduces avoidable surprises. The remaining risks are described in prop firm risks and in the risk warning. For the overall mechanism, see how a prop firm works. Technical terms are defined in the glossary and common questions in the FAQ.
To estimate what a challenge costs on average before paying for one, use the challenge real-cost calculator with your own assumptions.
The proproaster editorial team