Today, prop trading firms give traders a special opportunity to access large amounts of capital while reducing their own financial risk. These firms provide funding to traders who pass challenge requirements in which their skills are tested as well as risk management. For budget-conscious traders, choosing an affordable prop firm with a one-step challenge can be a great way to start without having upfront costs. Let’s see in detail the most affordable one-step challenge prop firms as well as their features and benefits that help traders choose the right prop firm.
What is a One-Step Challenge Prop Firm?
One-step challenge prop firms are different because they only require traders to pass a single challenge to access funded accounts. This makes the challenge phase simpler as compared to firms with two or more challenging steps. It also helps traders to focus on reaching a specific profit target while managing their risk more efficiently. These firms are popular as budget-conscious firms usually provide traders with lower fees and also an easy way to get a funded account.
Why Choose a One-Step Challenge?
Choosing a one-step challenge prop company gives you some advantages including:
- Cost-effectiveness: One-step challenges are less expensive and perfect for traders who want to start with a small initial investment.
- Time-Saving: With only one challenge phase, traders can get funded more quickly.
- Simplified Process: As there’s just one phase traders can focus fully on hitting their target without worrying about extra steps.
Top Cheapest One-Step Challenge Prop FirmsÂ
Now let’s see the most budget-friendly one-step challenge prop firms that provide both competitive pricing and more opportunities for traders who want to make their trading career without having a large amount of money.Â
The5ersÂ
The5ers provide a number of plans for different traders according to their trading styles and needs. It’s known for its flexibility and helps traders complete the evaluation with no time limit, which is great for those who prefer to trade at their own pace.
Key Features:
- Fee: Their initial fee starts at $85
- Profit Target: Need only 6% profit to pass the challenge
- Drawdown Limit: 4% daily and 10% max
- Payout Ratio: Up to 100% profit split after reaching target
- Account Scaling: you can take up to $4 million
- Refund Policy: Full refund after passing the challenge
- Platform Options: MetaTrader 4, 5, and NinjaTrader
Why Choose The5ers?
The5ers is the right option due to its flexible terms, no time limit on the evaluation, and strong account scaling options. It’s an affordable and best choice for budget-conscious traders who want to grow their accounts over time.
FundingPips
FundingPips is relatively new but established itself in a very short period of time due to its affordable trades. They provide competitive fees and an easy one-step challenge process. FundingPips is a preferable choice for traders who want quick access to funded accounts without high costs.
Key Features:
- Profit Target: Traders must achieve 10% profit
- Drawdown Limit: 4% daily and 6% maximum
- Payout Ratio: Up to 80%
- Leverage: They allow leverage 1:5
- Scaling Program: Account scaling options are available
- Refund Policy: Full refund upon passing the challenge
- Platform: MetaTrader 4 and 5
Why Choose FundingPips?
FundingPips provides a well-balanced program with simple drawdown rules and a low-profit target. All these features make it one of the best prop firms and a great choice for budget-conscious traders who want a practical, low-cost entry into prop trading.
Funded NextÂ
Funded Next is a great choice for beginners as it provides a friendly setup for new traders. It also provides a free trial option that enables the use of trade copying software and creates a supportive environment for those who are just starting out.
Key Features:
- Fee: Starts at an initial fee of $149
- Profit Target: you have to achieve up to 8%
- Drawdown Limit: 5% daily and 10% max
- Payout Ratio: Up to 85%
- Trial Program: Free trial available
- Trading Tools: they allow Trade copying softwareÂ
- Platform Options: MetaTrader 4 and 5
Why Choose Funded Next?
Funded Next’s beginner-friendly features like the free trial and allowance for trade copying, make it a good choice for new traders looking to gain experience with a funded account.
TraddooÂ
Traddoo is also included in top one-step challenge firms and has very flexible trading conditions with no minimum trading days and no restrictions on consistency. This gives traders the freedom to trade without pressure and is also a good choice for those who prefer to stick to their own style.
Key Features:
- Fee: Starts at $99
- Profit Target: Must achieve 8% of profit
- Drawdown Limit: 5% daily and10% max
- Payout Ratio: Traders can earn up to 80%
- No Minimum Days: No required trading days
- Trading Flexibility: No consistency restrictions
- Platform Options: MetaTrader 4 and 5
Why Choose Traddoo?
Traddoo is the best choice for traders who want flexible conditions as well as ideal for traders who value freedom. Traders can work on their own terms with no minimum days and no consistency rules.
Conclusion:
One-step challenge prop firms are more beneficial and more budget-friendly as compared to traditional prop firms. Traders get funded with lower initial investment. All the firms listed above provide unique features that make them a preferable choice for traders.Â
