One Step Evaluation Prop Firms is the type of proprietary trading firms that offer a 1 step evaluation process for traders who wish to get access to faster funding. This evaluation process typically involves trading a simulated account with specific rules and risk parameters. The trader can advance to the funded account if they meet the profit targets and risk management requirements without breaches.
Traders just need to pass a one step evaluation in other to get funding, which makes the process faster and more efficient than other evaluation models. The good news is that Funded Trading Plus allow traders to get fundedimmediately after passing a single phase challenge, make a profit, and get a payout within 24 hours. You also get 10% off by using the discount code PTP10 during the checkout.
Trading with one step evaluation prop firms is best for more experienced traders who understand risk management very well, the reason is that it comes with a tighter drawdown and other slightly tough trading rules when compared to two phase challenge., On the other hand, single phase prop challenge offers a more straightforward and efficient way to get access to funding faster.
What Is One Phase Challenge Prop Firms
One phase challenge prop firms trading offer a single streamlined evaluation process for traders who are looking for faster ways to get funding. The evaluation process is designed to assess a trader’s skills, discipline, and risk management abilities so they can start trading a prop firm funded account.
Compared to prop firms with a two-step evaluation process, one phase challenge prop firms offer a less prolonged process. Neither does it give traders the type of pressure that comes with an instant funding prop firm. Instead, traders can take their time to demonstrate their trading skills and pass the evaluation process to become funded traders.
During the one step evaluation process, traders are typically given a set of rules and objectives to follow. These rules and goals can vary from top firm to prop firm. But they generally involve hitting a profit target, not exceeding the daily/ maximum drawdowns while adhering to strict risk management guidelines.
Time Period of One Step Evaluation Prop Firms
The One Step Evaluation Prop Firms offer different evaluation periods, such as 30 days, 60 days to no time limit period. This is to allow traders ample time to pass the challenge. Profit splits for these evaluation processes can vary, but typically range from 50% to 90% of profit split.
Interestingly, one step evaluation prop firms can be a great way to start a prop trading career since the account doesn’t come with a lengthy evaluation period. Traders need to manage their accounts by observing the trading time limits as well as following the rules and hitting the profit target, so they can become funded traders and start trading and making a profit.
While there are many prop firms in the market that offer one phase challenge. Prop Traders who have an interest in taking one-step challenge prop firm programs should compare different firms to find the best fit for their trading style and goals. It is important to review the rules and risk parameters of each evaluation process to ensure that they align with the trader’s trading strategy and risk tolerance.
2 Phase Challenge vs 1 Phase Challenge Prop Firms
Proprietary trading firms often use evaluation challenges to identify potential good traders. These challenges typically involve traders trading on a demo account with a specific account size for a set number of trading days. The main difference between 2 phase challenge and 1 phase challenge prop firms is the number of phases in the challenge evaluation process.
One step challenge prop firms
The one step evaluation also known as 1 phase challenge prop firms, requires traders to pass only one evaluation phase to receive funding.
One step evaluation prop firms are attractive to experienced traders because they offer a faster and more straightforward evaluation process. Traders only need to pass one evaluation phase to receive funding, which means they can start trading with real money sooner.
Two Step Evaluation Prop Firms
The Two-step evaluation prop firms, also known as 2 phase challenge prop firms, require traders to pass two evaluation phases to receive funding. The two step evaluation prop firms have their advantages.
They tend to have stricter evaluation criteria and lengthy evaluation time, which means that traders who pass both phases are more likely to succeed in the funded trader program. Additionally, two-step evaluation prop firms often offer lower subscription fees and better profit splits.
Whether a trader chooses a two step or one step evaluation prop firms depends on their preferences and trading goals. 1 step evaluation prop firms offer a faster and more straightforward evaluation process, while two step evaluation prop firms offer a prolonged evaluation process and better funding options.
Top 14 One Step Evaluation Prop Firms
One of the faster ways to get funded with a proprietary trading firm and start making a profit as soon as possible is through a one step evaluation program. In this type of program, traders are given a set of trading rules to observe once and a profit target to hit within a specific time frame. If they are successful, they can become funded traders and start trading with the firm’s capital.
But the challenge lies in finding a list of reputable prop firms that offer one step challenge prop firm programs, since there are many of them out there. The goal is not just to find one phase challenge prop firms, but to find the ones that are reputable with good track records and payout proofs that can be verified.
So, in this article, we present to you top 14 one step challenge prop firms, these are some of the firms we know that have good records and straightforward trading rules with no hidden charges. Kindly go through the list and choose your preferred prop firm, follow the links to sign up and start taking the challenge. You may want to read our tips on how to pass a prop firm challenge faster. We will be happy to see your comments about the successful withdrawal from your prop firm account.
It’s important to note that not all one-step evaluation prop firms are the same. Some have more strict evaluation criteria than others, and some offer lower funding amounts and profit splits. Therefore, you need to carefully compare different two step and one-step evaluation prop firms’ plans and choose the best for yourself.
List of 14 One Step Evaluation Prop Firms
Here we go with the full list of top 14 prop firms that offer one phase evaluation accounts.
1. Funded Trading Plus
Funded Trading Plus single phase evaluation starts at $12,500 simulated account for a refundable fee of $119, to account of $200,000 simulated account for a fee of $999. You get 10% off by using the coupon code: PTP10. Funded Trading Plus is one of the biggest prop firms in the industry, offering multiple trading programs with superior platforms and fast payouts.
2. InstantFunding
InstantFunding one phase challenge accounts start with a minimum balance of $12,500 for a fee of $99 and go up to as high as $200,000 for a fee of $925. With no minimum or maximum trading days, daily and overall drawdown of 3%/ 10% as well as an 80% profit split. InstantFunding has amazing offers and incentives for traders which makes it stand out as one of the traders’ choicest prop firms.
With the discount code: HelpingHand traders can purchase any challenge account at 10% off and get a $12,500 one phase evaluation account for free. Amazing right?
Update: The above offer of a free $12,5000 account promotion ended on the 18th of September. However, you can still get an extra 10% off fees by applying the discount code: INSTANT10
Good luck!
3. The Funded Trader Program
The Funded Trader 1 step Knight challenge program offers accounts that start from $25,000 for a fee of $189. The program comes with unlimited trading days and no minimum trading days. It has a daily loss limit of 3% and a maximum loss size of 6% with a profit split up to 90%.
The program offers no limit to trading styles and also allows the use of prop firm EAa. You get a 5% discount by using The Funded Trader coupon code: PTP10 at checkout.
4. Maven Trading
Maven Trading is offering one of the low-cost one step evaluation accounts that starts at $5,000 for a fee of $55. Not only that, traders can save an extra 10% off by using the coupon code: SEPTEMBER at checkout. Maven Trading has other cost-effective virtual account sizes from $10,000 for $95 to $500,000 for a fee of 2,995. There is no time limit and you are allowed to trade News and use Expert Advisors.
5. FTUK
FTUK is a leading one step challenge prop firm with an account starting from $14,000 for a one time fee of $149 which can be scaled up to $896,000. FTUK one step account sizes go up to $90,000 for a fee of $599 and scaling plans up to $5,760,000. The program has trading rules such as an 8% fixed absolute drawdown and a profit target of 10%.
Additionally, FTUK has an ongoing discount that provides 20% off the evaluation fee with FTUK discount code: FTUK20
6. FundedNext
FundedNext offers a 1 step challenge program with virtual account sizes that starts at $6,000 for a refundable fee of $59 for a Swap Account and $65 for a Swap Free account. The program offers account sizes up to $200,000 for $999 for the Swap type or $1,099 for the Swap Free account. Traders can use different trading styles like News trading, copy trading, and Expert Advisors without restrictions.
7. Infinity Forex Funds
Infinity Forex Funds prop firm is known for its top-notch HFT Bot trading support which puts them at the number one spot of prop firms that support HFT and Algo trading systems. Their standard evaluation package starts from a virtual balance of $25,000 account for a fee of $169. The account size goes up to $500,000 for a $2,349 fee. There are trading rules like a minimum of 10 trading days and unlimited maximum trading days. Also, the daily drawdown limit is 5% while the overall drawdown is a massive 15%. If you wish to pass your prop firm challenge with an HFT bot, Infinity Forex Funds is one of the best prop firmswe recommend.
8. FXIFY
FXIFY one phase assessment starts with a $15,000 account at the cost of $99. This is yet another innovative prop firm that allows traders to customize their accounts to suit their trading style. Aside from the $15,000 account, they have other account sizes such as $25,000 for a refundable fee of $175 and up to $400,000 accounts for a fee of $1,999. Traders can also save an extra 20% off the cost with a discount code:SOCIAL20 at checkout.
9. MyFundedFx
My Funded Fx is another prop firm that offers 1-step challenge account starting from a $5,000 balance for a fee of $50 to a $300,000 virtual account for a $1,399 refundable fee. This program has a 4% daily drawdown and a trailing 6% maximum drawdown. Use the coupon code: PTP2 to enjoy a 5% discount on fees.
10. Next Step Funded
Nextstep Funded 1 step challenge starts at $15,000 account for a one time fee of $120. There are also account sizes of $25,000 to $200,000 virtual money for a subscription fee of $180 to $1,200. Nextstep Funded has its unique features and fully allows trading with prop firm EA.
11. MDP Funding
MDP Funding program has one step challenge for both No HFT and HFT support. The No HFT account size starts at $5,000 account for a fee of $49 to a balance of $200,000 for a $949 fee. While the HFT supported account from $5,000 to $200,000 goes for a fee of $99 to $1,819 respectively. MDP Funding is known for full support for EAs trading, allowing traders who wish to employ the services of expert advisors to pass their accounts without restrictions.
12. OneUp Trader
OneUp Trader offers 1-step evaluation accounts starting from a $25,000 balance for a monthly cost of $125 and up to $250,000 for a monthly fee of $650. With OneUp Trader evaluation subscription, you won’t only gain access to an evaluation account. Still, you will also be given access to a NinjaTrader license for free and Level2 Market data, plus up to 100% profit split.
13. Surge Trader
Surge Trader offers a whole different 1 step audition with a starter plan of $25,000 account going for a fee of $250 and up to Master audition account size of $1,000,000 for a fee of $6,500. All a trader needs is to simply go to the registration page, choose an account type, and customize the account according to their choice like using double leverage, no stop loss requirement, and 90% profit split. Make payment for the audition to gain access to a trading account.
They will have to observe a maximum daily drawdown of 5% and an overall drawdown of 8% and share a profit split of 90%. Meanwhile, Surge Trader is currently running a 20% off on all its fees to mark their 2 year anniversary.
14. Bespoke Funding
Bespoke Funding Program Classic 1 phase challenge starts from an account size of $10,000 for $129 to an account size of $400,000 for a one time refundable fee of $1,879. The program offers no trading time limit, auto close of all open positions on hitting targets, and a scaling plan.
In summary, each prop firm has different rules and requirements for their one step evaluation challenge. Some of the one step evaluation prop firms require traders to hit a certain profit target within 30 days, while others have more flexible rules. They also offer different account sizes and subscription fees.
You will find more information on the prop firms’ websites, read their rules and requirements, and decide before applying. You should also consider the proprietory firm’s reputation, customer support, and other factors that may impact your trading experience. See this post on how to know a legitimate prop firm.
Pros & Cons of One Step Challenge Prop Firms
One step evaluation prop firms offer traders a fast and straightforward way to prove their trading skills and gain access to capital. However, there are pros and cons to trading these types of challenges that traders should consider before applying.
One Step Challenge Advantages
- Fast evaluation process: One-step challenges typically take less time to complete than multi-step evaluation processes, allowing traders to start trading with the firm sooner.
- Higher costs: One-step challenges usually have higher fees than two-step evaluations, making them more difficult for traders with smaller budgets who are just starting and want a cheaper prop firm.
- Opportunity to prove skills: One-step challenges offer traders a chance to demonstrate their skills and potentially gain access to a larger trading account.
One Step Challenge Disadvantages
- Higher Fee: One step challenges subscription fees often cost more than two step evaluations, making traders pay more.
- Less Drawdown: One-step challenges come with smaller daily drawdowns and smaller maximum drawdowns. This can be a difficult challenge for traders who lack discipline and risk management.
- Higher Risk: It is riskier to trade a single phase prop challenge due to its nature of higher risks and sticker rules
Traders should carefully consider the pros and cons of one step challenge prop firms before deciding whether to apply. While these firms offer a fast and affordable way to prove trading skills, it may come with higher risk than two step evaluations.
Conclusion
In conclusion, the one step evaluation prop firms present great opportunities for traders who want to get quicker funding. There are several proprietary firms that offer this type of challenge, Each firm has its own uniqueness, rules, and other requirements traders must meet to get funding. Please make comparisons before joining any of the one step evaluation prop firms.
Note, that passing the prop firm challenge is not the ultimate goal. The focus should be on following the rules and not violating them. Observing the daily and maximum loss limits as well as ensuring that your strategy can make you consistent profits in the long run.
We provided the list of top 14 one-step evaluation prop firms for traders to choose from, which comprises prop firms’ one phase challenge programs, their account offerings, subscription fees, and discount codes to help reduce cost. Please review each proprietary trading firm to better understand its evaluation process and funding options.
