FTMO, FundedNext, and The5ers are the three names most traders compare when they start looking at prop firms. They are not interchangeable, and the differences that matter are not the marketing ones. This is the fee, rule, and payout comparison with the “best” verdict deliberately removed, because there is no best, only a best fit for how you trade.
At-a-glance table
| FTMO | FundedNext | The5ers | |
|---|---|---|---|
| Founded | 2015 | 2022 | 2016 |
| Entry fee | From €89 | From $59.99 | From $99 |
| Profit split | Up to 90% (80% base) | Up to 95% (80% base) | 80% to 100% |
| Max allocation | $400K, scales to $2M | $300K, to $600K | Scales to $4M |
| Platforms | MT4, MT5, cTrader, DXtrade | MT4, MT5, cTrader, Match-Trader | MT4, MT5 |
| Headline program | 2-Step | Stellar 2-Step | High Stakes |
Fees and refunds
The sticker fee is the wrong number to compare, but it is where everyone starts. FTMO is the most expensive entry, FundedNext the cheapest, The5ers in the middle. The refund story changes the real cost:
- FTMO refunds the full fee on the first payout.
- FundedNext does not advertise a blanket fee refund the same way, but compensates fast payouts.
- The5ers refunds 70 percent of the fee with the first payout.
If you pass, the fee is mostly returned at all three. If you fail, the fee is gone, which is why the entry fee you can afford to lose repeatedly is the number that matters. I rank the cost properly in cheapest prop firms.
Profit split and scaling
- FTMO starts at 80 percent and moves toward 90 percent as you scale.
- FundedNext starts at 80 percent, with add-ons pushing toward 95 percent.
- The5ers starts at 80 percent but reaches 100 percent on some scale-up programs, and its ladder runs to $4M, the highest ceiling of the three.
The split matters less than people think early on, because a small account’s split is a small amount of money. What matters more is the ceiling and the scaling path, where The5ers has the most headroom and FTMO the longest track record.
Drawdown mechanics: static vs trailing
This is the single most important difference and the one most buyers skip. It is not how much drawdown you get, but how it is calculated.
- FTMO (2-Step) uses a 10 percent static max loss, with a 5 percent daily loss. Static means the floor does not move down as your balance grows, which is forgiving.
- FundedNext (Stellar 2-Step) also uses 10 percent static max loss with a 5 percent daily loss.
- The5ers (High Stakes) uses a 10 percent absolute static max loss but computes the daily loss from the previous day’s higher of balance or equity.
A trailing drawdown (which FTMO uses on its 1-Step and The5ers on some programs) moves the loss floor up as your equity peaks, which is much harder to trade. For a beginner, a static max loss is far more forgiving, which is why I recommend it in best prop firms for beginners.
Payout speed and methods
- FundedNext is the speed leader here, with a 24-hour payout guarantee and a compensation penalty if they miss it.
- FTMO pays bi-weekly, with a monthly option, and has the most established payout reputation.
- The5ers pays bi-weekly after funding, with a $150 minimum.
Payout speed is partly marketing and partly real. The thing to verify is not the promise but the history: has the firm paid consistently, at scale, over time. FTMO and The5ers have the longest records; FundedNext publishes a large on-chain payout history.
Platform and EA policy
All three allow EAs, but with differences. FTMO supports the widest platform set including DXtrade. FundedNext adds Match-Trader. The5ers is MT4/MT5 only. If you run a bot, all three ban the same strategy families (high-frequency, arbitrage, latency exploitation), which I cover rule-by-rule in prop firms that allow EAs.
Who picks each
- FTMO if you want the most established firm, the broadest platform support, and a forgiving static drawdown on the 2-Step.
- FundedNext if you want the cheapest entry, the fastest payouts, and static drawdown on the Stellar programs.
- The5ers if you want the highest scaling ceiling and the longest track record, and you can handle the daily-loss calculation.
None of these is “better”. The right answer depends on your capital, your platform, and how much drawdown forgiveness you need. If you are still deciding whether a prop firm is even the right structure for you, start with prop firm vs broker.
Risk warning. Prop firm challenges cost money and most attempts fail. The drawdown rules, not the profit target, are what end most evaluations. Read the exact drawdown calculation for your program before paying, and never spend challenge fees you cannot afford to lose.