Futures Prop Firms: The Complete Guide
A futures prop firm lets traders prove their skill on an evaluation account and, after passing, trade a funded account while sharing the profits. This guide explains the model, the rules that decide whether you pass, the costs, and a checklist for comparing firms.
Updated 2026-10-16 · 9 min read
What is a futures prop firm?
A futures proprietary (prop) trading firm gives traders access to an account sized well above what most people would fund themselves — commonly $25,000 to $250,000 — in exchange for passing an evaluation first. The trader pays a fee for the evaluation, trades under a fixed set of rules, and, after passing, trades a funded account where a share of the profits is paid out.
The word "futures" matters: these firms focus on index futures such as the E-mini S&P 500 (ES) and Nasdaq-100 (NQ), their Micro versions (MES, MNQ), and other contracts such as crude oil (CL) and gold (GC). Futures trade almost around the clock on CME Globex, have standardized contract sizes and tick values, and make risk rules easy to measure — which is why the evaluation model grew up around them.
Most modern futures prop firms do not hand traders live-market capital for the evaluation. Accounts are usually simulated, and the firm pays the trader's profit share from its own funds. That is a legitimate business model, but it should be stated clearly — see simulated vs live prop trading.
How an evaluation and a funded account work
The path is the same at most firms: you buy an evaluation for the account size you want, trade it within the rules until you reach the profit target, and then move to a funded account. The details are where firms differ.
At Strike Funded the program is called STRIKE. It is a single-phase evaluation: hit the profit target while respecting the trailing drawdown, and you are eligible to activate a funded account. There is no daily loss limit, no consistency rule to pass, and a minimum of one trading day, so a pass in a single day is possible within the contract and drawdown limits.
Read the step-by-step version in how futures prop firm evaluations work.
The rules that decide whether you pass
Four rules explain almost every pass and every failure. Compare them across firms before you compare prices.
- Profit target — the profit you must reach, usually a percentage of the account size.
- Maximum drawdown — how far equity may fall. Its type (trailing, end-of-day or static) changes how it feels to trade. See trailing drawdown explained.
- Contract limits — the maximum number of contracts, often quoted in minis and micros. See micro vs mini futures.
- Time rules — minimum trading days, consistency rules and the end-of-day flatten time. See futures trading hours and the end-of-day rule.
Strike Funded STRIKE plan at a glance
These are the published rules of the five STRIKE account sizes. The current price of each evaluation is always shown on the pricing page, so it is not repeated here.
| Account size | Profit target | Max drawdown | Max contracts (minis / micros) |
|---|---|---|---|
| $25,000 | $1,500 | $1,000 | 2 / 20 |
| $50,000 | $3,000 | $2,000 | 4 / 40 |
| $100,000 | $6,000 | $3,000 | 6 / 60 |
| $150,000 | $9,000 | $4,000 | 8 / 80 |
| $250,000 | $15,000 | $6,000 | 10 / 100 |
The drawdown is a trailing drawdown calculated in real time, including open profit. The contract limits are the same in the evaluation and when funded, and there are no scaling levels.
What it costs
There are usually three kinds of cost: the evaluation fee, a possible one-time activation fee when you pass, and the cost of your trading platform and market data. Read how each is charged — some firms bill the evaluation monthly until you pass, others charge once.
At Strike Funded the evaluation fee is billed monthly only while you are still in the evaluation; billing stops when you pass or breach, and you can cancel from your dashboard. Level 1 market data is included in every account. A one-time activation fee applies when you activate a funded account. All sales are final, so read the Refund Policy before buying.
A checklist for comparing futures prop firms
Use the same questions for every firm, including this one.
- Is the account simulated or live, and does the firm say so plainly?
- Which drawdown type is used, and does it include unrealized profit?
- Is there a daily loss limit or a consistency rule — to pass and when funded?
- What exactly is charged: evaluation fee, renewals, activation, data, platform?
- How are payouts requested, how often, how large, and what are the minimums and caps?
- What is the refund policy and what happens on a breach — reset, or permanent?
- Which platforms and data feeds are supported, and is market data included?
- How fast does support answer, and can you see platform status?
- Are the rules published in one place, in plain language, without hidden clauses?
Red flags
- Promises of guaranteed income, "easy" passes or income claims with no source.
- Rules that change after purchase, or are scattered across pages and emails.
- No clear statement of whether accounts are simulated.
- Pressure tactics, countdown discounts that never end, or hidden recurring charges.
- No named company, no terms of service, no way to contact a human.
Frequently asked questions
What is a futures prop firm?
A firm that lets traders prove their skill on an evaluation account and then trade a funded account while sharing the profits. Evaluations are normally paid by the trader; the funded account's profit share is paid by the firm.
Do I trade my own money at a futures prop firm?
No. You pay the evaluation fee, but you do not deposit trading capital. At Strike Funded all accounts are simulated, so no personal capital is placed at risk in trading.
Which futures can I trade at Strike Funded?
Index, energy and metal futures available on our execution platform, including ES, NQ, RTY, YM, CL and GC, and Micro contracts such as MES, MNQ, M2K, MYM, MCL and MGC depending on account size.
Is there a daily loss limit at Strike Funded?
No. The trailing drawdown is the only hard risk limit, on both the evaluation and the funded account.
Can I fail a futures prop firm evaluation?
Yes. Breaking the drawdown rule closes the account permanently. The evaluation is a test, not a guarantee, which is why the rules should be understood before you buy.
Keep reading
- How Futures Prop Firm Evaluations Work
- Trailing Drawdown Explained
- How to Choose a Futures Prop Firm
- Futures Prop Firm Payout Rules
Strike Funded accounts are simulated: no personal capital is placed at risk and no live market execution takes place. Trading futures involves substantial risk; this page is educational, not financial advice, and nothing here promises results.