The Cheapest Prop Firm in 2026
The cheapest prop firm by entry fee is not always the cheapest by the time you cash your first payout. Refund timing, payout fees, payment-method surcharges, and the cost of failed retries all matter. This guide ranks the seven largest prop firms by true total cost, not just sticker price.
The cheapest prop firm by entry fee is FundingPips at $32 for a $5K account. FundedFast is second at $49 for the same size. Once you factor in the fee refund timing, payout-method costs, and the typical number of retries before passing, FundedFast and FundingPips are roughly tied for cheapest path to a first payout.
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The FundedFast Open runs every two weeks. $100K virtual account, $25 first-place cash prize, no entry fee, no payment details required. The only genuinely free way to test our platform before you commit.
See the FundedFast OpenHow we score these firms
Three numbers determine real cost: the entry fee, when (and whether) the fee is refunded, and the cost of moving money out once you pass. We score each firm on the cheapest available $5K-$10K evaluation, the documented refund policy, and the worst-case payout-method fee for the trader. We exclude firms that bundle the fee into a recurring subscription, since that hides the real cost.
Top 5 prop firms ranked
- 1
FundingPips
95/100Lowest sticker price at $32 for $5K. Fee refunded on first payout. Best pure-cost choice.
From $32Split 80-100%Time Varies - 2
FundedFast
Our firm94/100$49 for $5K with 90% profit split and free Open competition. Tied for cheapest path to first payout once retries are factored.
From $49Split Up to 90%Time None - 3
FundedNext
86/100$32 entry but four program types add complexity that pushes accidental upgrades.
From $32Split 80-95%Time Varies by program - 4
E8 Funding
78/100$48 entry, similar to FundedFast on price, but with a tighter daily-loss rule that triggers more retries.
From $48Split 80%Time Yes - 5
FTMO
64/100Three times the entry of FundingPips at $155. Worth it only if you specifically need FTMO's brand or platform variety.
From $155Split 80%Time 30 / 60 days
How FundedFast handles this
FundedFast charges $49 for a $5K two-phase evaluation, scaling to $2,999 for $400K one-phase. The fee is fully refunded on your first payout, which means in steady state your real cost is zero. Profit split is up to 90% (80% default, upgradable at checkout for free), one of the highest in the industry. Payouts go out via PayPal, bank transfer, or crypto with a $50 minimum and no platform-side fees. For traders entering for the first time, the FundedFast Open free competition runs every two weeks with a $25 first-place cash prize and zero entry fee. A way to test the platform without paying. The honest weakness on cost: FundedFast does not match FundingPips' $32 absolute floor, so traders chasing lowest possible sticker price should compare side by side.
When this is not the right fit
If absolute lowest sticker price is your only criterion, FundingPips at $32 wins outright. If you need a $3K starter account specifically (FundedFast does not offer one in its public catalog), most firms will steer you to a $5K. And if you are evaluating purely on brand recognition rather than cost, FTMO commands a premium that none of the cheaper firms can match. Though the rules and profit splits at the cheaper firms are now generally better.
Frequently asked
What is the cheapest prop firm by entry fee?
FundingPips is the cheapest at $32 for a $5K account. FundedFast is second at $49 for the same size. Both refund the fee on your first payout, so the real cost in steady state is zero.
Is cheaper actually better for prop firm challenges?
Cheaper is better only if the rules and profit split also work in your favor. A $32 entry with a tight daily-loss rule that triggers two retries is more expensive than a $49 entry you pass in one attempt.
Do prop firms refund the entry fee?
All major prop firms refund the entry fee on the first payout. FundedFast, FundingPips, FTMO, FundedNext, and E8 Funding all follow this practice. Read the specific policy before paying. A few smaller firms only refund partial amounts.
Can I get a free prop firm challenge?
Free entry is rare. The most reliable free option is a live competition like the FundedFast Open, which runs every two weeks with no entry fee, a $100K virtual account, and cash prizes for the top three finishers.
Are there hidden fees in prop firm challenges?
Watch for: payout-method fees (some firms pass on PayPal or wire fees), recurring subscriptions disguised as one-time fees, and add-ons like profit-split upgrades that should be free. FundedFast's 90% profit split is included free at checkout.
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From $49. No time limit. Up to 90% profit share. Fee refunded on first payout.