Five payout pages read 20 Sept 2026: FTMO, FundedNext, FundedNext Futures and The5ers name a crypto rail, with coins and fees. Topstep's table went unread.
The5ers takes 3.5% per withdrawal; FTMO adds no fee but sets $20/$50 minimums. Five firms' payout pages in one table, with minimums from $20 to $1,000.
Five prop-firm refund pages read on 11 Sept 2026: FTMO and FundedNext refund with the first withdrawal, The5ers at the third payout, Topstep not at all.
FundedNext's live homepage sells Rewards and offers to sponsor your trading journey. The firm's own guide chapter, dated August 15 2025, still calls the profit split the payout. A review graded on vocabulary, animated counters and two lifetime totals that do not agree.
Topstep publishes four percentages from its own funnel for January through December 2025 — and they run on four different denominators, which is why almost everyone quotes them wrongly. What the disclosure says, what the rulebook underneath it says, and what recovery costs when the loss limit hits.
A limited-time 50K futures plan that keeps end-of-day drawdown after the evaluation — the one concession futures challenge buyers actually ask for. It is paid for in contract size, two extra minimum days and a consistency rule tightened from the standard Rapid's 50 percent to 30.
The firm's new Trade Clarity Desk shows which rule a trade tripped, how the firm classifies the consequence, and what the withdrawal should come to — before the request goes in. The final review still belongs to the firm.
The self-styled first prediction-market prop firm asks for 20 percent in 30 days against a trailing 10 percent drawdown, and opens the split at 70/30 to the trader — under the category's 80 percent headline, with the advertised 90 percent sold as an add-on. The rulebook is unusually complete, and unusually steep.
Angelo Ciaramello closed his futures prop firm and named the reason himself: no top platform option. A challenge seller owns its rulebook and rents the screen, and this is what that dependency looks like when it bites.
The industry's favourite phrase is 'simulated capital'. It may keep firms outside the licensing perimeter — but it does nothing to blunt the rules on how you sell things.
The best-known name in instant funding sells the thing every challenge buyer wants — a funded account on day one. The examiner's question is what that convenience costs, and the answer is in the terms.
The enforcement climate that began with My Forex Funds has not receded. A look at the scrutiny the sector now operates under, and why most firms still sit outside the authorisation perimeter by design.
The category leader's two-step evaluation is the industry's reference model: published targets, a refundable fee, an 80% split. The fine print is where the examiner earns his keep.