Honest rankings by the Prop Firm Secret Editorial Team — 100% independent, zero affiliate income. Funded-stage rules, fine print, and hidden restrictions surfaced so nothing catches you off guard.
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When you trade with a B-Book firm, the firm itself is your counterparty. That changes everything about how to read their rules, payouts, and interest in your success.
A proprietary trading firm (prop firm) funds traders with the firm's own capital after passing an evaluation challenge. Traders keep a share of profits (the "profit split") in exchange for respecting risk rules. The funded stage — not the evaluation — is where your real trading conditions apply.
A trailing (dynamic) drawdown moves up as your balance grows — so the more you profit, the closer your breach threshold gets. A static drawdown is anchored to your starting balance. Trailing drawdown is significantly harder to manage long-term and is one of the most important funded-stage risk factors to check.
Hidden rules are funded-stage restrictions buried in terms or only visible after account creation. Common examples include: open position loss layers ("Guardian Shield", equity protection), minimum profitable day requirements, best-day rules capping how much profit can count from a single day, and consecutive-loss day limits. Prop Firm Secret flags all of these before you sign up.
Swing traders need firms with static (non-trailing) drawdown, overnight and weekend holding allowed, no news trading ban, and no minimum daily profit requirements. Use the Firm Finder on this page or filter "1-Sided" + "No Min Days" + "No Targets" in the All Firms carousel above.
The AI Score (0–100) is computed from four weighted categories: Broker & Liquidity (30 pts), People's Trust via Trustpilot (25 pts), Firm Behaviors including jurisdiction and transparency (25 pts), and Rule Pressure — drawdown type, hidden rule density, and consistency requirements (20 pts). It reflects funded-stage data only. Read the full methodology →
No. Prop Firm Secret is 100% independent. We receive no affiliate commissions, referral fees, or sponsored placements from any prop firm. Rankings are determined entirely by the AI scoring model based on publicly available funded-stage rules and terms. Read our editorial policy →
Static (balance-based) drawdown fixes your loss floor at the original account balance — it never moves. If you open a $100,000 account with a 10% static drawdown, your hard floor is always $90,000 regardless of profits made. Trailing drawdown is the opposite: the floor rises with your peak equity. If your account grows to $115,000, the trailing floor rises to $105,000 — only $10,000 of cushion remains even though you are significantly profitable. Trailing drawdown is the more common and more dangerous structure for long-term funded account retention.
A Best Day Rule caps how much of your total funded-stage profit can come from a single trading day. Typical thresholds are 30–50%. If one session accounts for more than the permitted percentage of your cycle profit, the firm recalculates your eligible profit excluding that day — potentially dropping you below the withdrawal threshold. This rule penalises traders who trade selectively with high conviction and is rarely disclosed prominently in marketing materials. Filter for "No Best Day Rule" on Prop Firm Secret to find firms without this restriction.
It depends on the firm and the EA type. Most prop firms permit standard automated strategies (MetaTrader EAs, algorithmic entries) but explicitly ban high-frequency trading, latency arbitrage, tick scalping, and similar execution-speed-dependent strategies. Some firms also prohibit copy trading platforms. Always check the firm's prohibited trading methods list before connecting any automated system to a funded account. Some firms will terminate accounts retroactively if algorithmic patterns are detected, even if not explicitly banned in your terms version.
This varies significantly by firm. Some firms let your balance and drawdown cushion carry forward after a withdrawal — you simply continue trading from your current equity. Others reset your balance to the original starting amount after each payout. A balance reset also resets a trailing drawdown floor, which may now sit very close to your reset balance, leaving far less cushion than you had before the withdrawal. Always confirm the balance reset policy before choosing a firm, especially if your strategy generates profits quickly.
Most prop firms are not regulated as financial services providers. They are typically structured as technology or software companies that sell evaluation challenges, not as licensed brokers or investment firms. This means standard investor protections — deposit guarantees, financial ombudsman services, regulated dispute resolution — generally do not apply. The jurisdiction where the firm is incorporated determines what legal recourse exists in a dispute. Firms registered in the UK, EU, or Australia operate under stronger consumer law frameworks than firms registered in offshore jurisdictions like Vanuatu or Marshall Islands. Prop Firm Secret factors jurisdiction into its AI Score under Firm Behaviors.
Guardian Shield is a branded name for an open-position loss rule that monitors floating (unrealised) losses in real time. If your open trades fall below a defined threshold — typically 1–3% of account balance — all positions are auto-closed and the account may be terminated. This rule triggers independently of your standard daily loss limit and max drawdown. Swing traders holding multiple positions overnight are most exposed, as a single volatile candle can hit the threshold before a stop-loss fires. Not all firms with this rule market it prominently. Search for "No Open Loss Rule" on Prop Firm Secret to find firms without this hidden layer.