Best Prop Firms for Futures Trading in 2025: Full Comparison (Apex, TopStep, Bulenox, MyFundedFutures)

## The Futures Prop Firm Landscape in 2025 The prop firm industry exploded between 2021 and 2024, and the shakeout is now in full force. Several firms shut down or froze withdrawals without warning. The ones that survived — and the new ones that entered — are now competing primarily on evaluation pricing, drawdown structure, and payout reliability. For futures traders specifically, the key differentiators are: - **Trailing vs. static drawdown** — trailing drawdown is the single biggest account killer - **Consistency rules** — whether there are caps on what percentage of profit can come from a single day - **Payout split and minimum** — how much you keep and how quickly you can withdraw - **Account reset and retry cost** — what it costs to restart after a failed evaluation Here's how the major players stack up in 2025. ## Apex Trader Funding **Best for:** High-volume traders who want cheap evaluations and fast restarts Apex remains the dominant player by volume in 2025. They've built their market position on deeply discounted evaluations — promotional pricing often brings a $50K evaluation to under $50 and a $150K evaluation to under $100. These prices are not permanent, but Apex runs promotions consistently enough that you can plan around them. **Evaluation structure:** Single-phase. Hit the profit target, stay within drawdown, meet the minimum trading days, get funded. No second phase. **Drawdown:** Static on the Express accounts, trailing on standard accounts. This is important — if you're using standard accounts, the trailing drawdown locks in at your peak balance and follows you up, which means a winning streak immediately tightens your floor. If you're using Express accounts, the drawdown is static from Day 1, which gives you much more room to manage volatility. **Payouts:** 90% profit split on funded accounts. Apex pays consistently, and their PA (Performance Account) structure is straightforward. First payout requires 7 trading days and a minimum $500 profit. After the first payout, minimum withdrawal is $500 with no minimum day requirement. **Consistency rules:** Apex has a 30% consistency rule — no single day can account for more than 30% of your total profits at payout time. This catches traders who made most of their money in one session. Plan accordingly. **Verdict:** Best value if you're disciplined about the consistency rule and understand the trailing drawdown on standard accounts. The Express account is the better product for most traders. ## TopStep **Best for:** Traders who want institutional credibility and a structured two-phase evaluation TopStep is the oldest and most recognized name in futures prop firm evaluation, founded in 2012. They've built significant brand equity and have a reputation for reliable payouts, but their evaluation is more expensive than Apex and follows a two-phase structure. **Evaluation structure:** Two phases. Step 1 requires hitting a profit target (e.g., $6K on a $100K account) while keeping trailing drawdown above the floor. Step 2 requires hitting half the profit target over a minimum number of days. Both phases have the same trailing drawdown rule. **Drawdown:** Trailing on both phases and on funded accounts — this is the most significant risk with TopStep. The trailing drawdown locks to your highest balance during trading, not end-of-day. This means intraday peaks count. If you run your $100K account up to $106K intraday and then give back $3K to close at $103K, your drawdown floor just moved up by $6K during the day even though you only closed up $3K. **Payouts:** 100% of first $10,000 in profits, 90% thereafter. TopStep's payout structure is genuinely generous at the high end, but you have to get there — and the trailing drawdown makes that harder. **Consistency rules:** TopStep doesn't have an explicit consistency rule like Apex's 30%, but they do monitor for account manipulation and can flag accounts with extreme single-day outliers. **Verdict:** More expensive, harder evaluation due to intraday trailing drawdown, but excellent brand reputation and reliable payouts. Best fit for traders with a measured, consistent style who can avoid large intraday drawdowns. ## Bulenox **Best for:** Aggressive traders who want maximum account sizes and simple rules Bulenox entered the market offering some of the largest funded account sizes available and relatively simple evaluation rules. They've carved out a niche with traders who prefer straightforward terms over the cheapest price. **Evaluation structure:** Single-phase evaluation with a clear profit target and drawdown rule. Minimum trading days apply. **Drawdown:** Static end-of-day drawdown on most accounts. This is the most trader-friendly structure because intraday volatility doesn't move your floor. **Payouts:** Competitive split, typically 80–90%. Bulenox has had some payout consistency issues in its earlier days but has improved significantly. Always verify current payout terms before funding. **Consistency rules:** Bulenox has historically been less restrictive on consistency than Apex or TopStep, but this changes. Verify current rules before evaluating. **Verdict:** Worth considering if you want static drawdown and larger account sizes. Less brand recognition than Apex/TopStep, so more due diligence required on payout reliability. ## MyFundedFutures **Best for:** Traders who want flexibility on contract types and account sizes MyFundedFutures (MFF) differentiates on flexibility — they offer a wider range of contract allowances, account sizes, and rule structures than most competitors. They've built a following among traders who felt constrained by Apex's and TopStep's standardized offerings. **Evaluation structure:** Single or two-phase options available depending on account type. More customization than most firms. **Drawdown:** Varies by account type — both static and trailing options exist. Read the specific account terms carefully. **Payouts:** Competitive split with weekly withdrawal availability on most accounts. MFF has been reliable on payouts based on community feedback through 2025. **Consistency rules:** MFF rules vary by account. Some accounts have no explicit consistency rule; others have caps. Verify before signing up. **Verdict:** A legitimate option for experienced traders who've done the research. The variety can be overwhelming for beginners — stick to their most popular account type and understand the drawdown structure completely. ## Key Decision Framework: How to Choose Rather than picking the "best" firm in the abstract, match the firm to your trading style: **If you trade with consistent small gains (3–5 points/day on ES):** Apex Express accounts with static drawdown give you the most room to build up steadily without getting clipped by trailing drawdown mechanics. **If you have high conviction but take a few big trades per week:** TopStep's 100% first $10K payout is attractive, but the intraday trailing drawdown will punish you if your trades are wide-ranging. Bulenox static drawdown may be better. **If you're in evaluation phase and have a tight capital budget:** Apex promotions can get you into a $150K evaluation for under $100. The risk/reward on multiple attempts is unmatched. **If you want multiple funded accounts simultaneously:** Apex allows multiple PA accounts. So does MFF. TopStep has more restrictive multi-account policies. ## What We've Seen Work at YMI Members in the YMI community have collectively generated over $50M in funded account capital across all major prop firms. The consistent pattern among successful members: 1. They use static or end-of-day drawdown accounts whenever available 2. They track consistency religiously — no single trade or day exceeds 25% of total profit during any payout period 3. They treat each evaluation like a performance account from Day 1, not a gambling stake 4. They run evaluations in parallel when promotion pricing drops (usually 2–3 at a time) The prop firm industry will continue to evolve in 2025 and beyond. Some firms will fail. The ones that pay reliably and set trader-friendly rules will earn long-term market share. Do your research, read the current terms at each firm before signing up, and never deposit money you can't afford to lose on an evaluation.