BROKER EVALUATION
WE SCORED FIFTY-ONE FIRMS ACROSS THREE CATEGORIES.
Three research notes, one per market we cover. Twenty crypto exchanges, twenty CFD brokers and eleven prop firms. Each note states the axes we scored, the weight we gave them, the table we built, what got firms rejected, and what changed our score on the ones we picked. We take a commission from the partners we selected, which is exactly why we publish the method.
RESEARCH NOTE 01 · CRYPTO CRYPTO SPOT & PERPETUALSRESEARCH NOTE 02 · FX & CFDs BITCOIN, FOREX, METALS & INDICESRESEARCH NOTE 03 · PROP FIRMS FUNDED EVALUATIONS
RESEARCH NOTE 03 · PROP FIRMS · TRUDO TECHNOLOGIES LTD
MOST PROP FIRMS ARE MARKETING COMPANIES. WE LOOKED FOR THE ONE THAT PAYS.
A funded account is only worth having if the payout actually arrives. That makes prop-firm selection almost entirely a question of solvency, payout record and rule fairness, not profit-split percentages on a landing page. We scored eleven firms and only one cleared every bar.
SELECTED FTMO The oldest and largest firm in the sector, funding traders since 2015, with more than $500M paid in rewards, 4.8 out of 5 across roughly 48,000 Trustpilot reviews, a challenge fee returned in full with your first payout, and no regulatory action against it. In December 2025 it acquired OANDA, which puts regulated brokerage licences across eight jurisdictions inside the same group. SINCE 2015 LONGEST RECORD IN THE SECTOR$500M+ PAID IN TRADER REWARDS4.8★ 48,676 TRUSTPILOT REVIEWS20% OFF CHALLENGE FEE FOR TCS MEMBERS
HOW WE SCORED IT
35% PAYOUT RECORD Published totals, third-party review volume, and payout cadence. A firm that cannot show this has not earned the benefit of the doubt.
25% SOLVENCY & STRUCTURE Company age, jurisdiction, whether a regulated brokerage sits in the group, and how the firm survived the 2024-25 sector shakeout.
20% RULE FAIRNESS Drawdown method, consistency rules, and whether the terms are written to be passed or written to be failed.
10% COST TO TRY Challenge fee, refund policy, and whether a free trial exists before you pay.
10% PLATFORM & DATA MT4, MT5, cTrader and DXtrade support, and whether the feed is good enough for order-flow work.
THE COMPARISON
FIRMFOUNDEDPAYOUT PROOFSPLITFEE REFUNDVERDICT
FTMO2015$500M+ · 48,676 reviewsUp to 90%Yes, first payoutSELECTED
FIRM B2021Self-reported onlyUp to 90%PartialRejected
FIRM C2022None published95% headlineNoRejected
EIGHT OTHERS2021-2023None or unverifiable80-100% headlineNoRejected
WHAT YOU GET THROUGH US
−20% CHALLENGE FEE Through this page. Roughly €108 on a $100K evaluation.
100% FEE RETURNED Refunded in full with your first payout.
14 days FREE TRIAL, NO CARD Simplified challenge on simulated capital.
90% PROFIT SPLIT, UP TO From 80%, scaling toward a $2M cap.
$500M+ PAID TO TRADERS Bi-weekly, 1-2 days to land, on-time rate above 99%.
4 PLATFORMS MT4, MT5, cTrader and DXtrade, good enough for order-flow work.
WHAT CHANGED OUR SCORE
A prop challenge is a paid evaluation in a simulated environment. You are not trading real capital during the challenge, the fee is at risk if you break a rule, and most people who buy one do not reach a payout. What we like about FTMO is that it is the firm least likely to hide that: the rules are published in plain terms, the drawdown method is stated up front, the free trial lets you test them before paying, and the fee comes back when you succeed. FTMO also publishes two different totals for rewards paid on its own site, so treat any single figure as approximate rather than audited. Read the drawdown and consistency rules before you buy anything. We earn a commission when you use our link, and the 20% discount applies either way.
WHAT GOT FIRMS REJECTED
NO PAYOUT EVIDENCE AT ALL Eight of eleven firms published no verifiable payout data. In a sector where several firms collapsed owing traders money, that is the whole question.
RULES WRITTEN TO BE FAILED Three used intraday drawdown measured on unrealised equity plus a consistency rule tight enough that a single good day disqualifies you.
HEADLINE SPLITS AS A DISTRACTION The two highest advertised splits we found, 95% and 100%, both sat at firms founded after 2021 with no audit and no payout record.
The prop sector consolidates fast. We re-check payout evidence every quarter and will move if the evidence moves.
20% off your challenge
This evaluation reflects our own testing and publicly available regulatory information at the time of writing. It is not a recommendation to open an account with any firm, and it is not investment advice. Regulatory status changes: check the relevant public register yourself before you deposit. We are compensated by the partners listed on this site.