Prop Firm Fees, Discount Codes, and Refunds Explained for Traders

For many retail traders, joining a prop trading firm is the fastest way to access large amounts of trading capital without risking personal funds. But before you can trade a funded account, you’ll first encounter three important concepts: prop firm fees, discounts, and refund policies.

These terms may sound straightforward, but misunderstanding them can cost you both time and money. In this guide, we’ll explain what each one means, how they work in practice, and what you should look out for when choosing a prop firm.

1. Prop Firm Fees – The Starting Point

Every prop firm requires traders to pay an evaluation fee, often referred to as prop firm fees. This is the cost of entry into a challenge or assessment account.

• How it works: You select an account size (e.g., $50k, $100k, $200k), and the firm sets a one-time fee.
• Why it matters: Without paying this fee, you cannot access the challenge or prove your trading skills.

📊 Examples:

• A $50,000 challenge may cost around $300.
• A $100,000 challenge typically costs $500 or more.

👉 Think of prop firm fees as your ticket to the game. You pay upfront to prove your trading ability, and if you succeed, the firm provides real capital.

Types of Prop Firm Fees

• Challenge Fee: The most common fee in prop trading firms. Traders pay this upfront to participate in a simulated trading evaluation, designed to test their trading skills and risk management.
• Activation Fee: Some firms charge an additional activation fee once you pass the challenge, allowing you to unlock and start trading a funded account.
• Data Fee: Traders may be required to pay for real-time market data or specific data feeds (e.g., Rithmic) to execute trades effectively.
• Commission or Brokerage Fees: While some firms offer commission-free trading, others may charge brokerage or transaction fees on each trade.
• Reset Fee: If you fail a challenge but want to try again, many firms offer a “reset” option for a fee, giving you another chance to pass the evaluation.

Factors That Influence Prop Firm Fees

• Account Size: Larger funded accounts (e.g., $100,000 or $200,000) generally come with higher challenge fees compared to smaller accounts.
• Number of Challenge Phases: Some evaluations have only one phase, while others require two or more stages—each of which may involve separate costs.
• Profit Split: Firms that offer a high profit split (e.g., 80%–90% to the trader) often balance it with higher upfront fees or ongoing costs.
• Risk Parameters: More flexible risk rules, such as generous drawdown limits, usually come with higher fees.
• Reputation and Features: Well-established firms with strong educational resources, community support, or unique trading features often charge premium fees compared to newer or less reputable providers.

How to Evaluate Prop Firm Fees

• Look for Refund Policies: Some firms refund your challenge fee once you pass, which can significantly reduce your initial cost.
• Compare Fee Structures: Check whether the firm provides transparent fee details and whether there are any hidden charges you should be aware of.
• Assess Value for Money: Consider if the fees are reasonable compared to the funded capital you receive, as well as the overall quality of trading conditions and support.
• Verify Trustworthiness: Always choose firms with strong reputations and positive trader reviews to avoid scams or unreliable providers.

2. Prop Firm Discounts – Making Retakes Affordable

Prop firm discounts are promotional reductions that lower the price you pay for a new evaluation or retake. They are not guaranteed and not fixed by tier; availability and percentage depend on each firm’s current campaign.

Purpose. Discounts are designed to reduce the financial burden and encourage traders to try again without paying the full evaluation fee.

Format. Firms typically issue prop firm discount codes (entered at checkout) or apply automatic vouchers during limited-time promotions and seasonal sales.

What you can rely on.

• Discounts are campaign-based or retake-specific, and the exact percentage varies.
• Some firms publicly share codes during flash sales (e.g., a published 20% off code in a promotion).
• Always check the firm’s official promotions page, dashboard, or email before you pay.

Bottom line: Prop firm discounts exist, but percentages change by campaign. Treat any “fixed 10%/15%/20% after a fail” claim as non-universal unless it is stated on the firm’s official site at the time you buy.

3. Prop Firm Refund Policy – Getting Your Money Back

A prop firm refund policy determines whether you receive your evaluation fee back after meeting specific conditions.

• How refunds usually work. Many firms that offer refunds credit the funded account refund with your first payout after you pass the evaluation and comply with rules.
• Confirmed example. FTMO states on its official materials that the challenge fee is refunded with the first reward/payout once you successfully pass the Evaluation.
• Not universal. Some firms do not refund fees. For example, Maven Trading specifies in its Terms & Conditions that there are no refunds on services. Maven positions value through a minimum 80% profit split instead of fee refunds.

Bottom line: Refunds are firm-specific. FTMO offers a funded account refund with your first payout; Maven’s T&Cs state no refunds. Always rely on each firm’s current, official policy.

4. Why Prop Firms Don’t Charge “Time Fees”

Reputable prop firms don’t bill monthly time fees. Instead, they assess performance against clear trading rules:

• Drawdown limits (e.g., a daily max and an overall max).
• Profit targets to pass the evaluation.
• Profit splits once you are funded.

Verified example (FTMO).

• No time limit to hit the target (with a minimum of 4 trading days per phase).
• Evaluation objectives commonly include Max Daily Loss 5%, Max Loss 10%, and a Profit Target 10% in the Challenge phase.

Bottom line: You pay prop firm fees once to enter; from there, progress is governed by performance rules, not by subscription time.

5. Comparing Fees, Discounts, and Refunds

6. Case Study: Two Different Approaches

Funding-style promotions. Some firms periodically publish prop firm discount codes during campaigns, which can be applied at checkout. These are time-limited and vary in percentage.

Policy-first approach. Maven Trading offers a minimum 80% profit split and states no refunds in its Terms & Conditions, prioritizing ongoing revenue share rather than refunding evaluation fees.

Refund-centric approach. FTMO ties a funded account refund to the first payout after you pass the Evaluation, aligning costs with proven performance.

Takeaway: One firm may emphasize affordability and retention via discounts, another may emphasize long-term earnings via profit split, while a third may highlight a clear refund path after success.

7. Frequently Asked Questions (FAQ)

Q1. Are prop firm fees recurring?
No. Prop firm fees are typically one-time evaluation fees paid before you start the challenge.

Q2. Do prop firms offer discounts?
Yes—through prop firm discount codes or automatic vouchers during promotions. Percentages and timing vary; always check the firm’s current offer.

Q3. How does a prop firm refund policy work?
A firm may return your evaluation fee after you pass and receive your first payout. FTMO publicly confirms this model.

Q4. Do all firms refund fees?
No. Policies differ. For instance, Maven Trading’s Terms & Conditions state no refunds.

Q5. Why don’t prop firms charge by time?
They evaluate traders by rules and performance (drawdown limits, profit targets, profit splits), not by hours spent.