What you are signing up for
A prop firm evaluation is a skill test where you trade with virtual capital to prove you can be profitable while following strict risk rules. You pay an entry fee to access this test.
- Boxcar Trading offers a 25K account (a virtual balance of $25,000) starting at $50.
- The5ers Futures offers a similar 25K account for $59.
In both firms, you must reach a "profit target," which is a specific amount of money you need to earn to pass the test. For a 25K account, this target is $1,250 at Boxcar and 6% ($1,500) at The5ers. Neither firm offers a free trial, but their entry prices are among the lowest in the industry for futures trading.
How hard each one is
The difficulty is defined by the "drawdown," which is the maximum amount you are allowed to lose before your account is closed. Both firms use a "Trailing EOD" (End of Day) drawdown. This means the "floor" of your account moves up only at the end of the trading day if your balance increased, but it never moves back down.
- At Boxcar, the 25K account gives you a $1,000 loss limit.
- At The5ers, the loss limit is 4% of your balance ($1,000 for the 25K plan).
Boxcar also offers an optional "Daily Loss Limit" (DLL). This is a safety switch that freezes your account for the day if you lose a certain amount, preventing you from blowing the entire account in a single bad session. The5ers does not have a daily limit, meaning one bad afternoon could end your challenge.
How long it takes
Both firms use a "one-step" process, meaning you only need to pass one evaluation phase to become a funded trader.
- Boxcar allows you to pass in as little as 1 day on their Prime plan.
- The5ers also allows a 1-day pass, provided you respect their consistency rules.
Neither firm has a maximum time limit to finish the evaluation. You can take months if you need to, as long as you place at least one trade every 30 days at Boxcar or every 14 days at The5ers to keep the account active.
Where beginners fail
Most beginners fail because of the "consistency rule." This rule prevents you from passing by having one "lucky" trade that makes all your profit. It forces you to be a steady trader.
- Boxcar requires that no single day accounts for more than 40% to 52% of your total profit, depending on the plan.
- The5ers applies a 40% consistency rule per position, meaning one single trade cannot represent more than 40% of your total gains.
Another trap is "overnight" trading. Both firms require you to close your positions before the market closes for the day. If you leave a trade open while the market is shut, you will fail the account.
What happens if you make it
Once you pass, you become a "funded" trader and can start requesting "payouts" (withdrawals of your earned profits).
- Boxcar gives you 90% of the profits. You can request payouts daily once you meet certain cycle requirements. The minimum withdrawal is $500.
- The5ers gives you 80% of the profits. You can request your first payout after 14 days, provided you have gained at least 4% in profit.
Regarding technology, Boxcar is more flexible. It allows you to use popular platforms like NinjaTrader or Quantower. The5ers is more restrictive for beginners, as it only allows the BlackArrow platform.
If it is your first time
If this is your very first attempt, Boxcar Trading is the better choice.
The entry price is slightly lower ($50 vs $59), but the real advantage is the software. Boxcar allows you to use NinjaTrader, which has thousands of free tutorials online. Furthermore, Boxcar allows the use of "EAs" (automated trading robots), whereas The5ers strictly prohibits them. The optional Daily Loss Limit at Boxcar acts as a crucial safety net for a beginner who hasn't yet mastered their emotions.
Frequently asked questions
Which firm is cheaper to start a 50K challenge, Boxcar Trading or The5ers Futures?
Boxcar Trading is cheaper for a 50K evaluation. Their "BoxcarFlex" plan with a daily loss limit costs $90, while the "Day Trade" 50K plan at The5ers Futures costs $100. Neither firm charges an activation fee after you pass the test, which saves you money compared to other competitors.
Can I use automated trading robots (EAs) in Boxcar Trading or The5ers Futures?
You can use EAs in Boxcar Trading, as they allow own automated strategies on all evaluation and simulated-funded accounts. However, The5ers Futures strictly prohibits algorithmic and high-frequency trading. If you plan to use software to execute your trades, Boxcar is your only option between the two.
Which firm offers more trading platforms, Boxcar Trading or The5ers Futures?
Boxcar Trading offers a much wider variety of platforms, including NinjaTrader, RTrader Pro, Quantower, and Sierra Chart. In contrast, The5ers Futures is limited exclusively to the BlackArrow platform. For a beginner, Boxcar provides more freedom to choose the interface that feels most comfortable.
What is the minimum profit needed to withdraw money from Boxcar Trading vs The5ers Futures?
At Boxcar Trading, the minimum gross withdrawal is $500 per request. At The5ers Futures, you cannot request a payout until you have reached at least 4% profit over the initial balance (for example, $1,000 on a 25K account). While Boxcar has a fixed dollar minimum, The5ers requires a specific percentage of growth before you can touch your earnings.
