What is the best prop firm for UK traders?

There is no single answer, because the right firm depends on how you trade. For most UK traders starting out, FTMO is the safest default: the longest record, clear rules and reliable payouts. If you want a firm run from a UK company, Alpha Capital Group and Funded Trading Plus are the two here with England and Wales registrations. If you hold trades over news and weekends, FundedNext or City Traders Imperium have the fewest restrictions. None of them is FCA regulated, because none holds client money.

How much does a $100k prop firm challenge cost?

Between about $440 and $550 for a standard two-step evaluation at the firms compared here, before discount codes, which are common. Lite and three-step versions start around $300 to $400 with tighter limits. Most firms refund the fee with your first, third or fourth payout; CTI and Alpha Capital do not refund at all.

Are prop firms legal and regulated in the UK?

Legal, yes. Regulated, no. Prop firms sell a simulated evaluation and pay you from their own funds, so they do not hold client money and the FCA does not authorise them. Every firm in this comparison says so in its terms. You have none of the protections you get with an FCA-regulated broker, which is why the firm's track record matters so much.

Which prop firms allow news trading and weekend holding?

During the evaluation, almost all of them. Once funded, City Traders Imperium and FundedNext allow both outright (FundedNext discounts profit on trades within 5 minutes of news). The5ers, Blue Guardian and Maven allow weekends but restrict orders around red-folder news. FTMO and Alpha Capital restrict both on standard funded accounts but offer swing account types that lift the weekend rule.

What is the difference between a one-step and two-step prop firm challenge?

A two-step challenge has two phases, typically 8% to 10% then 5%, with a static maximum loss. A one-step challenge has a single phase with a similar or higher target but usually a trailing drawdown that rises with your profits and a consistency rule. One-step is faster; two-step is more forgiving of a good week followed by a bad one. See what is a prop firm for how trailing drawdown changes trade management.

Is instant funding worth it?

Rarely for a trader who could pass a challenge. Instant accounts cost three to ten times the evaluation fee, pay a lower split to begin with, carry a tighter trailing drawdown and a stricter consistency rule, and the fee is not refunded. They suit a trader with a proven record who values time over money. The numbers are worked through in instant funding prop firms.

Do I pay tax on prop firm payouts in the UK?

Almost certainly. Payouts are a fee for a service you provide to the firm, not gains on your own spread bets, so the usual spread betting exemption does not apply. Most UK traders report them as self-employment income. This is not tax advice; speak to an accountant before your first payout.

Prop firm comparison

Best prop firms for UK traders

Ten forex prop firms that accept UK traders, compared on what actually decides whether you get paid: the drawdown rules, the fee, the split, how soon the first payout arrives and what you are not allowed to do once funded. No affiliate links, no discount codes.

N Written by Nick, founder of Markets Mastered · Trading professionally since 1989

Rules and prices checked 7 November 2026

Most established

FTMO

Ten years, clear rules, reliable payouts and now owns a major broker. The default choice if you are not sure.

Run from a UK company

Alpha Capital Group

England and Wales registration and UK support hours. Static drawdown on the two-step, trailing on the one-step.

Swing traders

FundedNext

Weekend holding and news trading allowed once funded, plus a share of the profit you make during the challenge.

Cheapest two-step

Maven Trading

$440 for $100k with a static 8% drawdown. Payouts capped at $10k a month, no EAs.

Fewest restrictions

City Traders Imperium

News, weekends, overnight and EAs all allowed, first payout after 7 days. Offshore entity.

Scaling to 100%

The5ers

Slow and steady path from 80% to a 100% split at $350k. MT5 only, no instant funding.

Prop firm comparison table

Two-step $100k evaluation unless noted. Fees are list prices before codes. "Reported" means the firm's site could not be read directly and the figure comes from reviews dated within the past month.

Firm	Based	$100k fee	Targets	Daily loss	Max loss	Split	First payout	Platforms
FTMO	Prague	About EUR 440 to 540	10% then 5%	5%	10% static	80%, rising to 90% via scaling	First on day 14 of the funded account	MT4, MT5, cTrader, TradingView
FundedNext	Dubai	$549.99	8% then 5%	5%	10% static	80%, 90% after scale-up, 95% add-on	First after 21 days, then every 14 days	MT4, MT5, cTrader, Match-Trader
The5ers	Israel	About $405 to $545 (reported)	10% then 5%	5%	10%	80%, rising to 100% at the $350k level	Every 14 days (reported)	MT5 only
Alpha Capital Group	Harpenden	About $497 to $527 (reported)	8% then 5% (6/6 and 10/5 variants)	4% (3% or 5% on variants)	8% static (6% or 10% on variants)	80%, 90% add-on	Every 14 days, or on demand with a 40% best-day rule	MT5, cTrader, TradeLocker, DXtrade
Funded Trading Plus	London	$549 (reported)	7% then 7%	4%	8% static	80%, 90% at 20% profit, 100% at 30%	From day one, then every 10 days (2-step) or 7 days (1-step)	MT5, cTrader, DXtrade, Match-Trader
FundingPips	Dubai	$544 (reported)	8% then 5%	5%	10% static	60% to 100% depending on payout cycle	First after 7 to 14 days	MT5, cTrader, Match-Trader
City Traders Imperium	Comoros entity	$549	10% then 5%	5%	10% static	80%, 90% at Bronze VIP, 100% at Silver	First after 7 days	MT5, Match-Trader
Blue Guardian	Saint Lucia entity	About $620 list, usually discounted	8% then 4%	4%	8% static	85%, 90% add-on	Every 14 days, 7 with add-on	MT4, MT5, TradeLocker, Match-Trader
Maven Trading	Saint Lucia entity	$440	8% then 5%	4%	8% static	80%, 90% add-on	First after 10 business days, then every 10 business days	MT5, Match-Trader
E8 Markets	Saint Lucia entity	$488 (reported, 1-step)	9% default, adjustable 6% to 21%	4%	6% dynamic default, adjustable 4% to 14%	Up to 100%	After 3 profitable days, then 5 trading days apart, caps on early payouts	MT5, cTrader, TradeLocker, Match-Trader

Every firm here states that evaluation and funded accounts are simulated and that it is not a broker. Rules change often and discount codes change weekly. Treat this table as the shortlist and the firm's own rules page as the contract.

What decides whether you get paid

Static or trailing maximum loss

Static means equity may never fall more than, say, 10% below the starting balance, however much profit you make first. Trailing means the floor rises with your high-water mark, so a $6,000 gain followed by a $10,000 giveback fails you while you are still up. Every two-step evaluation in the table is static. The one-step and instant products at FTMO, Alpha Capital, CTI, Maven and Blue Guardian trail. It is the single most important line in the rules.

Daily loss, including open trades

A 5% daily limit on $100k is $5,000, and at most firms floating losses count. Three correlated trades at normal size can use it in an hour. Decide your own daily cap at well under half the firm's, size with the position size calculator and treat long EUR/USD plus long GBP/USD as one trade. The reset time (midnight Prague for FTMO, 5pm New York for most US-facing firms) decides when a bad day ends.

News and weekend rules once funded

Almost no firm restricts you during the evaluation. Several restrict you the moment you are funded, which is when traders get caught. FTMO and Alpha Capital standard accounts ban orders within 2 to 5 minutes of listed releases and require you to be flat at the weekend; both sell swing variants that lift the weekend rule. Check the economic calendar before every session on a funded account.

Consistency and best-day rules

A rule that no single day may be more than 30% to 50% of total profit is now standard on one-step, instant and on-demand payout accounts. It is not a breach, but it blocks the payout until the rest of the month catches up. If you have one big day, you then need steady smaller ones. The maths punishes anyone who passes on a single oversized trade, which is the point.

Firm by firm

The detail behind each row. Open a firm to see its news, weekend and EA rules, refund terms and what stands out.

FTMO Prague, Czech Republic

2-step, 1-step, Instant. Operating since 2015.

Most established

The reference point for the whole industry, and the firm most others copied. Bought the broker OANDA in December 2025. UK is reportedly its largest market. One-step and Instant accounts carry a consistency rule (best day under 50% and 30% of profit) and the fee is not refunded on those.

Fee ($100k): About EUR 440 to 540. Sources disagree; the price widget is only shown at checkout. One-step from about EUR 499.
Rules: Targets 10% then 5%. Daily loss 5%. Max loss 10% static. Minimum days: 4. Time limit: None.
Split and payouts: 80%, rising to 90% via scaling. First on day 14 of the funded account. Fee refund: With first payout (2-step only).
Platforms: MT4, MT5, cTrader, TradingView
News trading: No orders 2 minutes either side of restricted events on standard funded accounts. Swing accounts exempt. No restriction during the evaluation.
Weekend holding: Standard funded accounts must be flat over the weekend. Swing accounts may hold.
EAs: Allowed, must be replicable on a live account. Server limit 2,000 positions a day.
Scaling: +25% every 4 months on 10% net profit and 2 payouts, up to $2m across accounts.

Read FTMO's own rules →

FundedNext Dubai, UAE

2-step, 1-step, Lite, Instant (to $20k). Operating since 2022.

Swing traders

Pays 15% of the challenge-phase profit once you meet the scale-up criteria, which no other large firm does. Weekend holding and news trading allowed make it the easiest set of rules for swing traders among the large firms. Forex leverage listed at 1:30.

Fee ($100k): $549.99. Stellar 2-step. Stellar Lite (8% then 4%, tighter limits) is $399.99.
Rules: Targets 8% then 5%. Daily loss 5%. Max loss 10% static. Minimum days: 5 per phase. Time limit: None.
Split and payouts: 80%, 90% after scale-up, 95% add-on. First after 21 days, then every 14 days. Fee refund: With first payout (2-step); third payout on 1-step and Lite.
Platforms: MT4, MT5, cTrader, Match-Trader
News trading: Allowed. On funded accounts, trades opened or closed within 5 minutes of high-impact news on an affected pair count for 40% of their profit.
Weekend holding: Allowed on all accounts.
EAs: Policy conflicts between the product page (add-on) and help centre (not above $50k). Ask before you rely on one.
Scaling: +25% per qualifying cycle, 90% split, up to $4m. Lite accounts not eligible.

Read FundedNext's own rules →

The5ers Israel, with a company registered in England and Wales

2-step (High Stakes), 1-step (Hyper Growth), 3-step (Bootcamp). Operating since 2016.

Long-term scaling

One of the oldest firms and the only one here with a scaling path to a 100% split on a standard account. Hyper Growth funds from day one at a lower split with tight 3% daily and 6% total limits. No instant funding product.

Fee ($100k): About $405 to $545 (reported). High Stakes 2-step; two price variants. Price is only shown at checkout.
Rules: Targets 10% then 5%. Daily loss 5%. Max loss 10%. Minimum days: 3 profitable days per phase. Time limit: None, but 30 days inactive expires it.
Split and payouts: 80%, rising to 100% at the $350k level. Every 14 days (reported). Fee refund: From the third payout (listed), sources disagree.
Platforms: MT5 only
News trading: Allowed, except no trades within 2 minutes either side of high-impact events on High Stakes. Bracketing news with pending orders prohibited.
Weekend holding: Allowed.
EAs: Only your own EA, with written approval. Third-party EAs prohibited.
Scaling: High Stakes to $500k, Hyper Growth to $4m.

Read The5ers's own rules →

Alpha Capital Group Harpenden, England

2-step (Pro, Swing), 1-step (One), 3-step, Instant (Direct). Operating since 2021.

UK-based company

One of the few firms still operated from a UK company (Companies House 13719951), though like every prop firm it is not FCA authorised. The Alpha One 1-step uses a trailing drawdown off the high-water mark, which changes how you manage winners. Raw spreads with no commission.

Fee ($100k): About $497 to $527 (reported). Alpha Pro 2-step, 8% then 5% variant. Prices are only shown at checkout.
Rules: Targets 8% then 5% (6/6 and 10/5 variants). Daily loss 4% (3% or 5% on variants). Max loss 8% static (6% or 10% on variants). Minimum days: 3 per phase. Time limit: None.
Split and payouts: 80%, 90% add-on. Every 14 days, or on demand with a 40% best-day rule. Fee refund: Not refunded (reported).
Platforms: MT5, cTrader, TradeLocker, DXtrade
News trading: No opening or closing affected instruments 5 minutes either side of listed events on funded Pro and One accounts. Swing: trades near news must last over 2 minutes.
Weekend holding: Allowed in evaluation. Not on funded Pro accounts. Allowed throughout on One and Swing.
EAs: Need pre-approval by email with the set file and source (reported).
Scaling: Not published on the product pages.

Read Alpha Capital Group's own rules →

Funded Trading Plus London, England

2-step, 1-step, Instant. Operating since 2021.

Fast payouts

London-based and acquired by Instant Funding, another London firm, in May 2026; both brands continue. A 3% single-symbol loss rule and a 35% best-day rule on the 2-step make it less forgiving of concentrated bets. Figures here are from recent reviews because the site blocks automated reads.

Fee ($100k): $549 (reported). 2-step Classic. 1-step Express also $549. Instant Funding $4,499.
Rules: Targets 7% then 7%. Daily loss 4%. Max loss 8% static. Minimum days: None. Time limit: None, 30 days inactive breaches.
Split and payouts: 80%, 90% at 20% profit, 100% at 30%. From day one, then every 10 days (2-step) or 7 days (1-step). Fee refund: Not described.
Platforms: MT5, cTrader, DXtrade, Match-Trader
News trading: Allowed, subject to risk review.
Weekend holding: Allowed on evaluations. Not on Instant accounts.
EAs: Allowed, except arbitrage bots.
Scaling: To $2.5m, $5m with an add-on (reported).

Read Funded Trading Plus's own rules →

FundingPips Dubai, UAE (Comoros entity)

2-step (Standard, Pro, Flex), 1-step, Instant (Zero). Operating since 2022.

Low cost

Cheap and fast, with a split that depends on how often you want paying: weekly payouts take a lower share, monthly a higher one. Lost MT5 access for a year after the 2024 MetaQuotes clampdown and regained it under its own licence in March 2025. All figures are from recent reviews because the site blocks automated reads.

Fee ($100k): $544 (reported). 2-step Standard. 2-step Pro (6% then 6%, 3% daily) $422. Zero instant $444.
Rules: Targets 8% then 5%. Daily loss 5%. Max loss 10% static. Minimum days: 3 per phase. Time limit: None.
Split and payouts: 60% to 100% depending on payout cycle. First after 7 to 14 days. Fee refund: After the fourth payout (reported).
Platforms: MT5, cTrader, Match-Trader
News trading: Unrestricted in evaluation. 10-minute window on funded accounts, 20 minutes on Zero.
Weekend holding: Allowed in evaluation. Suspended on funded accounts. Prohibited on Zero.
EAs: Personal EAs with proof of ownership. Fully automated third-party EAs prohibited.
Scaling: Tiers to $2m with 100% split at the top (reported).

Read FundingPips's own rules →

City Traders Imperium Comoros entity, Costa Rica office, Dubai academy. Founded in London in 2018

2-step, 1-step, Instant, Direct. Operating since 2018.

Fewest restrictions

The most permissive rule set here: news, weekends, overnight and EAs all allowed. Often described as UK-based because it started in London; the operating company moved offshore in 2025 and the original UK company has reportedly been dissolved, so treat it as an offshore firm.

Fee ($100k): $549. 2-step. 1-step $449 (5% trailing drawdown, no daily limit). Instant from $79 ($80k at $1,599).
Rules: Targets 10% then 5%. Daily loss 5%. Max loss 10% static. Minimum days: 3 profitable days per phase. Time limit: None.
Split and payouts: 80%, 90% at Bronze VIP, 100% at Silver. First after 7 days. Fee refund: Not refunded.
Platforms: MT5, Match-Trader
News trading: Allowed on all programs.
Weekend holding: Allowed on all programs.
EAs: 1-step allows third-party EAs and martingale. 2-step and Instant allow personal EAs only.
Scaling: Challenges to $400k; Instant to $2m per account.

Read City Traders Imperium's own rules →

Blue Guardian Saint Lucia entity, Dubai office

2-step, 1-step, Nano variants, Instant. Operating since 2022.

Higher default split

Higher default split than most. The Guardian Shield rule closes trades at a 2% floating loss and cuts the split to 50% on a first breach, which protects the account but can also close a trade you intended to hold. Leverage is shown as 1:30 in one place and 1:100 in another.

Fee ($100k): About $620 list, usually discounted. The configurator shows $623 for $100k without naming the model; 30% codes are routinely offered.
Rules: Targets 8% then 4%. Daily loss 4%. Max loss 8% static. Minimum days: 3 profitable days (1-step). Time limit: None.
Split and payouts: 85%, 90% add-on. Every 14 days, 7 with add-on. Fee refund: After the fourth payout.
Platforms: MT4, MT5, TradeLocker, Match-Trader
News trading: Allowed in the challenge but cannot be the sole way to pass. No orders 5 minutes either side of red-folder news when funded.
Weekend holding: Allowed.
EAs: Allowed, including trade copiers. HFT, tick scalping under 2 minutes and arbitrage banned.
Scaling: Up to $400k in the forex division.

Read Blue Guardian's own rules →

Maven Trading Saint Lucia entity, Dubai office

2-step, 1-step, 3-step, Instant. Operating since 2023.

Cheapest entry

Among the cheapest routes to a $100k account. Payouts are capped at $10,000 across any rolling 30 days, which matters if you are good. The news rule applies during the challenge, not just when funded, and a breach ends the evaluation. Account sizes stop at $100k.

Fee ($100k): $440. 2-step. 1-step $380. 3-step $299. Instant $380.
Rules: Targets 8% then 5%. Daily loss 4%. Max loss 8% static. Minimum days: 3 profitable days per phase. Time limit: None.
Split and payouts: 80%, 90% add-on. First after 10 business days, then every 10 business days. Fee refund: After the third payout.
Platforms: MT5, Match-Trader
News trading: No orders on affected instruments 2 minutes either side of red-folder news on challenges. Hard breach.
Weekend holding: Allowed.
EAs: Prohibited on all accounts.
Scaling: Not on the FAQ; reviews say $1m.

Read Maven Trading's own rules →

E8 Markets Saint Lucia entity, Dallas, Texas address

1-step (One, Signature), Pro. Operating since 2021.

Custom rules

Lets you choose your own target and drawdown pairing, which is unusual and useful if you know your numbers. A 35% to 40% best-day rule applies. Everything here is from recent reviews because the site blocks automated reads, so confirm before buying.

Fee ($100k): $488 (reported, 1-step). E8 One, a single-phase evaluation. E8 Signature $260 at $100k with a 6% target and tighter drawdown.
Rules: Targets 9% default, adjustable 6% to 21%. Daily loss 4%. Max loss 6% dynamic default, adjustable 4% to 14%. Minimum days: Not stated. Time limit: None, one trade per 60 days to stay active.
Split and payouts: Up to 100%. After 3 profitable days, then 5 trading days apart, caps on early payouts. Fee refund: Not stated.
Platforms: MT5, cTrader, TradeLocker, Match-Trader
News trading: Allowed in evaluation. 5-minute restriction when funded.
Weekend holding: Not stated for forex.
EAs: Not stated for forex.
Scaling: Marketed to $1m but no active plan (reported).

Read E8 Markets's own rules →

Firms that have closed or gone quiet

People still search for these. Each is a reminder of why years in business and payout proof matter more than the split.

MyFundedFX (later SeacrestFunded)

Closed February 2026. The parent, Seacrest Markets, terminated the whole program with two days' notice and force-closed accounts.

The Funded Trader

Websites offline since September 2026 with no closure statement, after paused payouts in 2024, a move offshore and a lawsuit from its technology provider. Do not send money.

Funded Engineer

Closed July 2024 and filed for bankruptcy after its technology provider pulled the licence. Some review sites still list it as active; they are stale.

Nova Funding, FundingTicks, Vault Funder, FundedSeat, Rev One Trading

All reported closed during 2026. The pattern is the same each time: payout delays, then a rule change, then silence.

What UK traders should know

No firm is FCA regulated. Prop firms do not hold client money, so they fall outside FCA authorisation. The UK-registered ones say so plainly. You rely on the firm's reputation, not a regulator.
The money is simulated. Evaluations are demo accounts. Most funded accounts are too, with the firm paying you from fees and its own hedging. That is why the rules are strict: the firm is pricing the risk that you are consistent.
MT4 is disappearing. After MetaQuotes cut several firms off in 2024, most now hold their own MT5 licence or route traders to cTrader, Match-Trader, TradeLocker or DXtrade. If your strategy is MT4-only, FTMO, FundedNext and Blue Guardian still list it.
Many "UK" firms are offshore. Several brands that started in London now operate through Comoros or Saint Lucia companies with a Dubai arm handling payments. Alpha Capital Group, Funded Trading Plus and The5ers still have England and Wales registrations. Check Companies House, not the About page.
Payouts are taxable. They are fees for a service, not spread betting gains. Take advice before the first one.
Leverage is irrelevant. Firms offer 1:30 to 1:100. The drawdown rules bind long before leverage does. See what is leverage in trading.

Keep reading

What is a prop firm?

How the evaluation model works, static vs trailing drawdown, and whether a challenge is worth it for you.

FTMO rules explained

Every FTMO rule in one place: targets, loss limits, news, weekends, consistency, scaling and the free trial.

Instant funding prop firms

What you pay, what you give up, and the maths against a standard challenge.