Simulated Classic 1-Step, Classic 2-Step, PayFlex Edge and Instant Funding accounts on MT5, cTrader and TradeLocker
Checked 8 October 2026
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This review covers thePropTrade (theproptrade.com), which we list as The Prop Trader. The site calls itself thePropTrade, and its terms call its funded accounts “thePropTrader” accounts. It sells four programmes: Classic 1-Step, Classic 2-Step, PayFlex Edge (a one-step evaluation) and Instant Funding, which has no evaluation. The account builder on its home page lists starting balances of $5,000, $10,000, $25,000, $50,000 and $100,000.
The firm states an 80% profit split on all accounts. It says all accounts use simulated capital. Trading is offered on MetaTrader 5, cTrader and TradeLocker; the firm says US-based traders may use TradeLocker only.
This review is based only on the firm's own website and help centre. Where its pages disagree, we say so and say which page we used.
Everything in this review comes from The Prop Trader's own web pages, saved on 7–9 October 2026. Rules and prices change, so check the firm's site before you buy.
| Highest profit split | Up to 80% 12 Firm's wording: “Standard profit split: 80% to the trader” |
|---|---|
| Account types | 1-Step evaluation, 2-Step evaluation, Instant funding (no evaluation) 1234 |
| Markets | Forex, Crypto, Indices, Commodities, Metals 12 |
| Platforms | MetaTrader 5, TradeLocker, cTrader 12 |
| Allowed / offered on at least one account type |
Rules can differ between account types — check the linked page for the account you want. |
| Not allowed, or rules that apply (firm says so) | |
| US traders | Accepted (check any conditions on the linked page) 1 |
| Restricted countries named | China, Vietnam 1 Countries the firm names. Its list may also refer to sanctions lists or other countries — check the linked page. |
The Classic 1-Step programme has one evaluation phase before a funded account. The Classic 2-Step programme has two phases, Phase 1 and Phase 2. PayFlex Edge is a one-step evaluation in which you pay a small initial fee first and an activation fee only after you pass. Instant Funding gives a funded account for a one-time fee, with no challenge.
The help centre says PayFlex starts with a one-time initial fee of $9.99, whatever the account size. The activation fee is paid only after reaching the profit target, and the initial fee is not deducted from it. After passing, you have 30 calendar days to pay the activation fee; otherwise the account is marked as expired and cannot be reinstated.
| Account size | Up-front fee (one-time) | Activation fee (one-time, after passing) |
|---|---|---|
| $5,000 | $9.99 | $29 |
| $10,000 | $9.99 | $56 |
| $25,000 | $9.99 | $149 |
| $50,000 | $9.99 | $269 |
| $100,000 | $9.99 | $419 |
A pricing update page says these fees apply to PayFlex purchases from 24 February 2026, and that earlier buyers keep the activation fee agreed when they bought. The account builder on the home page, as saved, showed a PayFlex Edge activation fee of $50.00, which does not match any size in the help-centre table; we used the table.
The account builder showed no price in our saved copies of the home and evaluation pages (“$---”), so we could not see the prices of Classic or Instant Funding accounts. The firm says the fee depends on the challenge type and the account balance.
Its terms say fees are listed in US dollars.
Each programme has its own key rules page. The table below uses those pages.
| Rule | Classic 1-Step | Classic 2-Step | PayFlex Edge | Instant Funding |
|---|---|---|---|---|
| Profit target | 12% | 5% (Phase 1), 8% (Phase 2) | 6% (home page account builder) | None |
| Maximum daily loss | 3% | 4% | 3% | 3% |
| Maximum drawdown | 6% static | 8% static | 6% trailing, locks at starting balance | 6% trailing, locks at starting balance |
| Minimum profitable days | 3 days of at least 0.5% | 3 days of at least 0.5% in each phase | None (help centre) | None |
| Maximum risk per trade idea | 3% | 3% | 3% | 1% |
| Equity protector (floating loss that closes all trades) | 3% | 3% | 3% | 1% |
| Margin use (overexposure) | Below 70% | Below 70% | Below 70% | Below 70% |
There is no maximum time limit to complete a challenge. A profitable day is one where closed positions make a net profit of at least 0.5% of the initial balance. The help centre says there is no consistency rule on Classic 1-Step or Classic 2-Step accounts.
The daily drawdown is a percentage of the previous day's end-of-day balance, recorded at 21:00 UTC, and it is monitored against equity during the day. Breaching it is a hard breach that closes the account. On the trailing programmes, the 6% drawdown trails up with the closing balance until the account is 6% in profit, then locks at the starting balance. For PayFlex and Instant Funding, the drawdown also locks at the starting balance when you request your first payout, so the help centre suggests leaving a buffer when withdrawing.
Each programme's rules page says the equity protector allows up to two soft breaches; the third becomes a hard breach and the account is closed. Under the overexposure rule, the evaluation phase tolerates one breach; on a funded account, using 70% or more of margin is a hard breach. The firm says the overexposure and news rules are reviewed manually, for example before payouts.
A 1% risk limit always applies to Instant Funding. On the 1-Step and 2-Step evaluation programmes it is recommended, and the firm may enforce it on an account after a review, notifying the trader by email.
The firm says you may trade in any style as long as it reflects real market conditions and avoids prohibited behaviour, and that a stop loss is not mandatory. Its list of prohibited strategies includes:
Violations can lead to removal of profits, denial of payouts or account termination. The terms add that the firm may reduce leverage to 1:5 on accounts that use prohibited practices.
Traders are expected to hold each position for at least 120 seconds. Occasional earlier closes for genuine risk management are allowed, but strategies based on repeatedly opening and closing trades in under 120 seconds, including high-frequency and tick scalping, are not permitted.
On all programmes, you may not open or close trades on an affected instrument from 5 minutes before to 5 minutes after a major news release. This is a soft breach and profits from those trades are removed. You may hold positions through the news. The terms and conditions give a shorter window of 2 minutes either side; we used the help-centre page, which was updated on 14 June 2026.
EAs are allowed, but commercial or third-party EAs are prohibited and automated strategies must be your own original work. You may copy trades between your own thePropTrade accounts, but copying from any external source or other trader is prohibited. Only the verified account owner may trade the account. VPNs and VPS may be used, but not to misrepresent your location. Once funded, traders are expected to keep the same core strategy they used to pass; significant changes may trigger a review.
Holding positions overnight and over the weekend is allowed on all account types, and all accounts are swap-free. The prohibited-strategies list still bans opening trades near the close to exploit gaps. An account with no trade for 30 calendar days is breached, and it cannot be reactivated.
The profit split is 80% on every programme. Payout timing differs by programme:
| Programme | When you can request | Other conditions |
|---|---|---|
| PayFlex Edge | On demand | TPT Score 25% or below; minimum net profit $100 |
| Instant Funding | On demand | TPT Score 25% or below; minimum net profit $100 |
| Classic 1-Step | 14 calendar days after the first funded trade, then every 7 days | 3 profitable days of at least 0.5% per cycle; minimum net profit $100 |
| Classic 2-Step | 14 calendar days after the first funded trade, then every 14 days | 3 profitable days of at least 0.5% per cycle; minimum net profit $100 |
The firm describes the TPT Score as a performance score based on risk control and consistency. For PayFlex and Instant Funding, the help centre says reward requests are processed within 3 business days of submission. The evaluation page says the 2-Phase programme is “rewarded weekly”, which differs from the 14-day cycle on the Classic 2-Step payout page; we used the payout page.
Payout methods listed are Skrill, Neteller, crypto (USDT, USDC, BTC) and local methods where supported; availability may vary by region. KYC is required before trading an Instant Funding account or a funded account.
The evaluation fee is refunded with your third payout from a funded account if you trade in full compliance with the rules. Instant Funding fees are not refundable. If the funded account is breached before the third payout, the fee is not refunded. Separately, you can ask for a refund within 14 days of receiving your login details if no trades have been placed.
The firm says all funded accounts can scale up to $2 million. Its condition is to “achieve 10% profit for four (4) consecutive months of trading”, which raises the balance by 25%, and the trading objectives stay the same. Drawdown limits grow in proportion to the new balance. The maximum total funded allocation is $400,000 per client, with a separate cap of $100,000 for each programme category. The terms and conditions give a different maximum total capital allocation of USD 5,000,000; we used the help centre. The help centre does not say how the $2 million scaling limit fits with its $400,000 per-client allocation cap.
MetaTrader 5, cTrader and TradeLocker are available on desktop, web and mobile. The firm says it operates its own licensed MT5 platform. It says cTrader and MT5 are not available to US clients, who may use TradeLocker only.
Tradable asset classes are forex pairs, indices, metals, energies and crypto pairs. The Symbols & Spreads page lists, for example, EURUSD, gold and silver, US30, GER40 and US100, Brent and WTI oil, and BTCUSD and ETHUSD.
| Asset class | Leverage |
|---|---|
| Forex | 1:50 |
| Metals | 1:10 |
| Oils | 1:10 |
| Indices | 1:10 |
| Crypto | 1:1 |
Leverage is the same on all programmes and does not change between evaluation and funded accounts. A commission of $4 per lot round turn is charged on forex and metals. There are no swap charges on any account.
The site footer says thePropTrade.com is used by The Prop Trade Ltd, a company incorporated in Saint Lucia. Its General Terms and Conditions name Quantelite – Fzco, with a registered office in Dubai Silicon Oasis, United Arab Emirates, as the provider of the services. They say payments are processed by K.K. PPM & Consulting Ltd in Larnaca, Cyprus.
The footer says all accounts operate in a simulated environment with virtual capital and that no trades are executed on live markets. The help centre says funded traders who trade profitably within the rules can receive real rewards. The terms say a funded-account contract is offered at the company's sole discretion.
The footer says services are not offered to residents of China and Vietnam, and that the restricted jurisdictions also include countries on the FATF and EU/UN sanctions lists. Customers must be over 18. The terms let the firm change fees and service parameters at any time, including the criteria for passing. The terms also refer to products named Express, Standard and Pro, which are not the programme names used on the current product pages.
PayFlex Edge has a low up-front cost ($9.99), with the larger activation fee due only after passing. Swing and position traders may note that weekend holding is allowed and accounts are swap-free. Traders who rely on very short holding times, external trade copiers or bought EAs should read the 120-second, copy-trading and EA rules first. Instant Funding has tighter limits than the other programmes, including a 1% risk per trade idea and a 1% equity protector.
MyPropGenius Rating:
The rating measures how openly The Prop Trader discloses its rules, pricing, payouts and ownership (our Transparency Index methodology). It does not measure how likely you are to pass or be paid.
The footer names The Prop Trade Ltd, and the terms name the UAE operator Quantelite – Fzco and a Cyprus payment agent; the site states plainly that all accounts are simulated. The About page lists a six-person leadership team by first name and role, with no surnames. Refund terms are written down: a help article, a 14-day withdrawal clause in the terms, and a fee refund with the third payout. We found no payout records, certificates, payout totals, testimonials or payout dashboard on the firm's pages we read; the site only describes payouts as a feature. Operating history runs from 31 Oct 2024, the earliest Internet Archive copy of the homepage; the firm gives no founding date.
Its Transparency Index score is 51/100 (Mixed). We do not verify payouts or test accounts; this is what the firm’s own pages show.
Check the current rules and prices on the firm's own website before you buy.
We have no commercial relationship with The Prop Trader. Links to its website are not affiliate links.
thePropTrade sells Classic 1-Step, Classic 2-Step, PayFlex Edge and Instant Funding accounts on simulated capital, with an 80% split on all of them. Its help centre sets out per-programme drawdowns, payout schedules and a long list of conduct rules, including a 120-second minimum holding time and a 5-minute news window. Some of its pages disagree, and we could not see Classic or Instant Funding prices, so check the current figures on its site.
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Find my matchThe firm states an 80% profit split on all accounts.
A one-time up-front fee of $9.99 for any size, then a one-time activation fee after passing, from $29 for $5,000 to $419 for $100,000.
No maximum time limit, but you must place at least one trade every 30 days or the account is breached.
You may hold positions through news, but opening or closing trades on an affected instrument within 5 minutes either side of a major release is a soft breach and those profits are removed.
The firm says US-based traders may use TradeLocker only; MT5 and cTrader are not available to them.
No. The firm says all accounts use simulated capital; funded traders who follow the rules can receive real rewards.