Most prop firms fall into two camps. Forex and CFD firms such as FTMO let you trade currencies, indices, commodities and more on MetaTrader or cTrader. Futures firms such as Topstep give you contracts listed on exchanges like the CME, on futures platforms. Some, such as FundedNext, now offer both.

The main differences

The main differences. Instruments: Forex / CFD prop Currency pairs, index, commodity and crypto CFDs, Futures prop Exchange-listed contracts, e.g. CME index, energy and metal futures; Position sizing: Forex / CFD prop Lots, down to 0.01, Futures prop Whole contracts (micro contracts for small size); Costs: Forex / CFD prop Spread and sometimes commission, Futures prop Exchange and clearing fees per contract; Typical drawdown: Forex / CFD prop Static or trailing, varies by pla
The main differences: the figures from this section at a glance.
Forex / CFD propFutures prop
InstrumentsCurrency pairs, index, commodity and crypto CFDsExchange-listed contracts, e.g. CME index, energy and metal futures
Position sizingLots, down to 0.01Whole contracts (micro contracts for small size)
CostsSpread and sometimes commissionExchange and clearing fees per contract
Typical drawdownStatic or trailing, varies by planTrailing drawdown is common
Example firmFTMO: 2-Step 10% then 5%, 5% daily, 10% staticTopstep: Trading Combine, then funded accounts
SplitFTMO: 80–90%Topstep: keep 90%

What Topstep publishes

Topstep is one of the few firms to publish outcomes. For 2025 it reports that 16.8 per cent of Trading Combines were passed, that 51.8 per cent of individual participants reached the funded level in at least one Combine, that 33.3 per cent of funded participants received a payout, and that 0.71 per cent of Express Funded traders were called up to a Live Funded account. It says more than $1.5 billion has been paid out to its traders, and that Live Funded traders unlock daily payouts after 30 winning days of $150 or more.

The gap between 16.8 per cent of attempts and 51.8 per cent of people shows how many traders need several attempts. The step from funded to paid is the harder one.

Which suits you

  • Forex prop if you trade currency pairs, use MetaTrader expert advisors, or want very small position sizes.
  • Futures prop if you trade US index futures or commodities intraday, want exchange-traded prices, and are comfortable with whole-contract sizing.
  • Either way, read the drawdown rule first. Trailing drawdowns are more common on futures plans and change how you manage winning trades.

Our prop firm rules compared has the forex and futures firms in separate tables.

Futures are leveraged too. A single E-mini contract moves in large increments; use micro contracts while you learn a futures firm’s rules.

Frequently asked

What is the difference between forex and futures prop firms?

Forex prop firms run CFD accounts on platforms like MetaTrader for currencies, indices and commodities. Futures prop firms use exchange-listed contracts such as CME futures, with whole-contract sizing, per-contract fees and often trailing drawdowns.

Is Topstep a forex or futures prop firm?

A futures prop firm. Traders use exchange-listed futures in its Trading Combine and funded accounts, and Topstep says funded traders keep 90 per cent of profits.

What percentage of traders pass Topstep?

Topstep reports that 16.8 per cent of Trading Combines were passed in 2025, that 51.8 per cent of participants reached the funded level in at least one Combine, and that 33.3 per cent of funded participants received a payout.

Can I trade forex at a futures prop firm?

Only as currency futures listed on an exchange, not spot forex pairs. Some firms, such as FundedNext, offer separate CFD and futures programmes.