How to Choose a Prop Firm in 2027: A 10-Step Buyer Checklist
A 10-point checklist for choosing a prop firm on things you can verify, plus a plain scorecard of where OctoFunded is strong and where it is not.
OctoFunded Trading DeskUpdated ยท 8 min read
How to choose a prop firm comes down to one habit: score every firm on the same ten points you can verify yourself, from rules and drawdown to cost, payout proof and support, before you pay for anything.
Most traders choose on a banner, a discount or a friend's tip, then read the rules after the first breach. This checklist flips the order. We wrote it as OctoFunded, a firm on simulated capital, so at the end of each step you will see how we score. Use the same list on every firm you consider. If you are new to the model, start with what a prop firm is.
What should a prop firm checklist cover?
A prop firm checklist should cover the ten things that decide whether a program fits your trading and whether you can check the firm keeps its word. Here is the full list with what a good answer looks like.
| # | Checkpoint | What a good answer looks like | Red flag |
|---|---|---|---|
| 1 | Rules in numbers | Target, daily loss, max loss on one page | "Explained on request" |
| 2 | Drawdown type | Static or trailing, and how it is measured | Type not stated |
| 3 | Time limit | None, or long enough for your style | Short deadline with paid resets |
| 4 | Full cost | Exact price per size, codes named | Price only shown at checkout |
| 5 | Fee refund | Stated condition | No mention at all |
| 6 | Profit split | A fixed percentage from the first payout | Split that changes with vague tiers |
| 7 | Payout cycle | A stated schedule | "Processed when possible" |
| 8 | Payout proof | A public transaction hash per payout | Screenshots or totals only |
| 9 | Terms | Readable and matching the rules page | Missing or contradictory |
| 10 | Support | Answers a specific question with numbers | No reply, or answers that change rules |
Compare the programs and prices
Step 1: Are the rules written in numbers?
Good rules fit on one page and turn into dollars for your account size. If you cannot calculate your daily loss limit in dollars before you buy, you are buying blind. See prop firm rules explained for how to read them.
How OctoFunded scores: rules are published per program. On classic 1-Step, the target is 10%, the daily loss limit 4% and the max loss 8%. On a $100,000 account that is $4,000 and $8,000. Anything not stated, see the program rules.
Step 2: How is the drawdown measured?
Drawdown type changes how much room you really have. A static floor stays put. A trailing floor moves up with your gains. Learn the difference in static vs trailing drawdown.
How OctoFunded scores: classic 1-Step uses an end-of-day trailing drawdown locked at the initial balance. Classic 2-Step uses a static max loss of 10%. Both are stated. You should still check which one suits your style.
Step 3: Is there a time limit?
A deadline adds pressure that has nothing to do with your edge, and it can force a paid retake. Read more on no time limit programs.
How OctoFunded scores: no time limit on evaluations, in any market.
Step 4: What is the full cost?
The full cost is the price for your size, less any public code, plus any retakes you may need. Compare like with like: same size, same program type. Our guide to what a funded trading account costs goes deeper.
How OctoFunded scores: a one-time fee per challenge, with the public code OFF10 for 10% off. Classic market prices:
| Size | 1-Step list | 1-Step OFF10 | 2-Step list | 2-Step OFF10 | Instant list | Instant OFF10 |
|---|---|---|---|---|---|---|
| $10,000 | $69 | $62.10 | $79 | $71.10 | $109 | $98.10 |
| $25,000 | $169 | $152.10 | $179 | $161.10 | $249 | $224.10 |
| $50,000 | $289 | $260.10 | $309 | $278.10 | $469 | $422.10 |
| $100,000 | $499 | $449.10 | $529 | $476.10 | $879 | $791.10 |
| $200,000 | $949 | $854.10 | $999 | $899.10 | Not offered | Not offered |
| $400,000 | $1,859 | $1,673.10 | $1,909 | $1,718.10 | Not offered | Not offered |
Prices checked 30 October 2026.
Perpetuals and futures programs have their own prices. See the pricing table.
Step 5: Is the fee refunded, and when?
A refund changes the real cost of a program that reaches a payout. Check the exact condition, not just the word "refundable". See challenge fee refund.
How OctoFunded scores: 1-Step and 2-Step fees are refunded with the first payout, subject to the program rules. Instant fees are not refunded. There is no free retry or reset.
Step 6: What is the profit split?
The split is your share of simulated profit once you qualify for a payout. Check that it applies from the first payout and whether caps apply early on.
How OctoFunded scores: classic 1-Step and 2-Step pay 80%. Classic Instant pays 100%, with payouts 1 and 2 capped at 3% of the initial balance. Perpetuals and futures programs pay 90%. All subject to the program rules.
Step 7: How often can you be paid?
A stated cycle lets you plan. "When possible" does not. Compare cycles across 1-Step vs 2-Step vs Instant.
How OctoFunded scores: classic Instant pays the first payout after 7 days, then weekly. Perpetuals Instant pays on demand after 6 trading days and futures Instant after 5 trading days. For the cycle on other programs, see the program rules.
Step 8: Can you check payout proof yourself?
Payout proof you can open beats any total or screenshot. Ask for a transaction hash and open it on a block explorer. Our guide on prop firm payout proof shows how.
How OctoFunded scores: payouts in USDT or USDC with a public transaction hash, subject to the program rules. Each payout also comes with a payout certificate you can check at app.octofunded.com/verify, so you can judge us on individual payouts, not on a headline.
Step 9: Do the Terms match the rules page?
The homepage sells. The Terms apply. Read them and check they agree with the rules page on payouts, refunds and breaches.
How OctoFunded scores: the Terms and Risk Disclosure are public. If you spot a gap between them and the rules page, ask support before you buy.
Step 10: Does support answer a real question?
Send one specific question, for example "On a $50,000 1-Step, what is my daily loss limit in dollars?". A good answer is the number with the arithmetic: 4% of $50,000 = $2,000. More checks are in how to check any prop firm.
How OctoFunded scores: [email protected], Telegram at t.me/octofunded and Instagram @octofunded. Test us with a hard question.
How does OctoFunded score on the full checklist?
OctoFunded scores on points that are written down and checkable. Here is the plain summary.
| # | Checkpoint | OctoFunded | Honest note |
|---|---|---|---|
| 1 | Rules in numbers | Yes | Published per program |
| 2 | Drawdown type | Stated | Trailing on 1-Step, static on 2-Step |
| 3 | Time limit | None | Applies to evaluations |
| 4 | Full cost | Published | OFF10 for 10% off |
| 5 | Fee refund | 1-Step and 2-Step | With first payout; none on Instant; no free retry |
| 6 | Profit split | 80% to 100% by program | Subject to the program rules |
| 7 | Payout cycle | Stated for Instant programs | Others, see the program rules |
| 8 | Payout proof | Public hash per payout | Certificates at app.octofunded.com/verify |
| 9 | Terms | Public | Read before buying |
| 10 | Support | Email, Telegram, Instagram | Test with a specific question |
What else should you weigh when choosing a prop firm?
Beyond the ten points, check that the firm fits how you trade:
- Markets. OctoFunded offers classic CFDs (forex, metals, indices, BTC and ETH), perpetuals open 24/7 including weekends, and dated futures.
- Style rules. In the classic market, news trading and weekend holding are allowed, with no consistency rule beyond the best-day caps in the rules text.
- Automation. EAs are allowed. See EA trading.
- Checkout. Crypto: USDT (TRC20, ERC20), USDC, BTC, ETH and SOL. See paying with crypto.
- Size. Start at a size whose loss limit you can respect in dollars. With any new firm, a smaller first account is a cheaper test.
FAQ
How do I choose a prop firm?
Choose a prop firm on things you can verify: rules written in numbers, the drawdown type, the full cost, the payout split and cycle, checkable payout proof, readable Terms and a support team that answers a specific question. Score each firm on the same checklist before you pay.
What is the most important thing when choosing a prop firm?
The rules that can end your account matter most: the daily loss limit, the max loss and how the drawdown is measured. Turn each into a dollar figure for your account size, and check that your normal trading fits inside them.
Is a new prop firm a bad choice?
Not by default, but a new firm has no track record to lean on, so you have to rely on what you can check: written rules, Terms, on-chain payout proof and support answers. Starting with a smaller account is a sensible way to test any new firm.
Should I pick the cheapest prop firm challenge?
Price matters, but compare the full cost, not just the sticker. Check whether the fee is refunded, whether there is a time limit that could force a retake and whether a discount code applies, then compare what you pay against the rules you get.
How does OctoFunded score on this checklist?
OctoFunded publishes its rules in numbers, has no time limit, refunds the 1-Step and 2-Step fee with the first payout and pays in USDT or USDC with a public transaction hash, subject to the program rules.
Score us like any other firm
Print the checklist, run it on every firm on your shortlist and buy only where every row checks out for you. If OctoFunded makes your list, OFF10 takes 10% off every plan, and every challenge runs on simulated capital with no time limit.
