What you are signing up for
A prop firm challenge is an evaluation where you trade with the firm's virtual capital to prove you are a disciplined trader. If you pass, you receive a funded account where you keep a large portion of the profits you generate.
To start, you must pay an entry fee.
- At AquaFunded Futures, a standard $50,000 account costs between $131 and $160 depending on the plan.
- At forTraders Futures, the same $50,000 account starts at $199.
Neither firm offers a free trial, so your first attempt requires a real investment. Both firms waive the "activation fee" (an extra cost some firms charge after you pass the test) on their main programs.
How hard each one is
The difficulty of a challenge is measured by the profit target and the drawdown. The profit target is the specific amount of money you must earn to pass the evaluation. The drawdown is the maximum loss allowed before the firm closes your account.
AquaFunded Futures is generally easier for beginners because of its "End-of-Day" (EOD) drawdown. This means your maximum loss limit is only recalculated at the end of the trading day based on your closing balance. If your profit goes up and then down during the day, it doesn't penalize you immediately.
forTraders Futures uses a "Trailing" drawdown in its Fast plans. This is a moving floor that follows your highest profit point in real-time. If you are up $500 and then the price drops, your loss limit stays at that higher level, giving you less room to breathe.
How long it takes
In the past, firms forced you to trade for months, but these two are much faster.
- AquaFunded Futures allows you to pass their "One Step Standard" plan in just one day. Their other plans have no time limit, so you can go as slow as you need.
- forTraders Futures also has no time limit to reach the goal. However, to request your first payout, they require 5 profitable days.
Where beginners fail
Most beginners lose their accounts because of the "consistency rule." This rule prevents you from passing the test with one lucky trade; it requires that no single day accounts for too much of your total profit.
- At AquaFunded, the limit is usually 40%. This means if your goal is $3,000, you cannot make more than $1,200 in a single day and have it count toward the goal.
- At forTraders, the rule is also 40% for the evaluation phase.
Another trap is "scalping," which is opening and closing trades very quickly. AquaFunded requires you to hold trades for at least 10 seconds. forTraders is more flexible, requiring only 5 seconds.
What happens if you make it
Once you are funded, you get paid. This is called a "payout."
- AquaFunded Futures offers a 90% profit split, meaning you keep $90 for every $100 earned. They charge a $35 fee for the first withdrawal of the month.
- forTraders Futures offers an 80% profit split. Their withdrawal fees vary: $25 for small crypto amounts or $50 for larger transfers.
AquaFunded uses popular platforms like TradingView and Tradovate. forTraders uses its own proprietary platform called "For Traders X," which might take some time to learn if you are used to standard software.
If it is your first time
For a first-time trader, AquaFunded Futures is the better choice.
The main reason is the End-of-Day drawdown. For someone still learning to manage emotions, a trailing drawdown that moves against you in real-time (like the one at forTraders) is the fastest way to lose an account. Additionally, AquaFunded is cheaper for the $50k and $100k account sizes and gives you a higher percentage of the profits once you succeed.
