What you are signing up for
In the prop trading sector, an evaluation or "challenge" is a test where you trade with virtual capital to prove you are profitable. If you pass, the firm lets you trade their funds and keep a share of the gains. To enter, you pay an evaluation fee.
- For a small $5,000 account, Papaya Two costs $44.
- For the same $5,000 size, QT Funded offers "QT Power" for $28, but it requires a $500 activation fee if you pass.
- QT Funded also offers the "QT ONE" $5,000 account for $110 with no hidden activation fees.
Neither firm offers a free trial, which is a risk-free demo to practice their specific platform conditions before paying.
How hard each one is
The difficulty depends on the "profit target," which is the specific amount of money you must earn to pass, and the "drawdown," which is the maximum loss allowed before your account is disqualified.
- Profit Targets: QT Funded is generally easier for beginners. Their targets range from 6% to 8%. Papaya Funding requires more effort, asking for 9% on their Signature plan and up to 12% on their One-step plans.
- Drawdown Type: Both firms offer "Static Drawdown" on their main plans. This means your maximum loss limit is a fixed number that does not move. This is much safer for beginners than "Trailing Drawdown," where the loss limit follows your highest profit point, making it easier to fail even if you are winning.
- Rules to watch: QT Funded requires you to set a "Stop Loss" (an automatic order to close a trade at a certain loss) within 60 seconds of opening a position on several plans. Papaya does not have this strict technical requirement.
How long it takes
Prop firms use "Minimum Trading Days" to ensure your success isn't just a lucky one-day trade. You must place trades on a specific number of different days.
- Papaya Funding requires at least 4 "profitable days" (days where you make at least 0.25% profit) for their One and Two step plans.
- QT Funded also requires 4 days of trading on most plans once you are funded, but you can pass their QT ONE evaluation in a single day if you hit the target.
- Neither firm has a maximum time limit, meaning you can take months to reach the goal without pressure.
Where beginners fail
Most first-timers fail because of the "Consistency Rule." This rule prevents you from making all your target profit in a single lucky trade; the firm wants to see a steady strategy.
- Papaya Funding has a 50% consistency rule on most plans. This means no single day can account for more than half of your total profit.
- QT Funded is more flexible. Their "QT TWO" and "QT ONE" plans have no consistency rule at all, which is a massive advantage for someone still learning to manage their position sizes.
- Beginners also fail during news events. Papaya prohibits opening or closing trades 3 minutes before and after high-impact news. QT Funded has a wider 10-minute restricted window (5 before and 5 after) for certain accounts.
What happens if you make it
If you pass the test, you get a funded account and a "Profit Split," which is the percentage of the money you make that you get to keep.
- Payouts: Papaya Funding pays you every 14 days. QT Funded is faster on some plans, like "QT ONE," which allows you to withdraw your share every 4 days.
- Platforms: You will need to learn a trading software. Papaya offers DXTrade and MatchTrader. QT Funded offers the industry standard MetaTrader 5, which has more educational tutorials available online for beginners.
- Methods: Both firms allow you to receive your money via Crypto or specialized apps like Rise.
If it is your first time
If you are just starting, QT Funded (specifically the QT TWO plan) is the better choice. It is more expensive upfront than Papaya, but it has no consistency rules and lower profit targets (8% instead of 12%). This gives you much more breathing room to make mistakes while you learn. Papaya Funding is better suited for experienced traders who can handle higher profit targets and strict daily consistency filters.
Frequently asked questions
Which firm is cheaper for a $10,000 evaluation, Papaya Funding or QT Funded?
Papaya Funding is cheaper for a standard evaluation. Their $10,000 "Papaya Two" account costs $78, while QT Funded charges $190 for their "QT ONE" $10,000 account. Although QT has a "QT Power" plan for $50, it includes a hidden $500 activation fee upon passing, making it much more expensive for a beginner in the long run.
Does Papaya Funding or QT Funded have easier profit targets to reach?
QT Funded has easier targets. For a two-step evaluation, QT Funded requires you to gain 8% in the first phase and 5% in the second. In contrast, Papaya Funding’s "Papaya One" requires a 12% gain in a single phase, and their "Papaya Two" requires 10% in the first phase, making the path to funding longer and more difficult at Papaya.
Which firm has stricter rules regarding how I trade, Papaya Funding or QT Funded?
Papaya Funding is stricter due to its consistency rules. On most Papaya plans, a single day cannot exceed 50% of your total profit, or you must keep trading to dilute that gain. QT Funded does not apply consistency rules to its "QT ONE" or "QT TWO" plans, although it does require a Stop Loss to be placed within 60 seconds on some accounts, which is a technical rule Papaya doesn't enforce.
Who pays out faster after making a profit, Papaya Funding or QT Funded?
QT Funded offers faster access to your money. Their "QT ONE" and "QT INSTANT" plans operate on a 4-day payout cycle, meaning you can request your earnings much sooner. Papaya Funding requires a 14-day waiting period between payouts for all its main plans, including the One, Two, and Signature evaluations.
