Prop Firm Comparison: Where They Truly Differ
The table below lists each firm’s hard numbers. This article highlights the differences that actually change your trading experience—so you can spot which firm fits your strategy in seconds.
Blue Guardian Capital (BGC)
ActiveAE2–4 yrs
Blue Guardian Capital is a UAE-based proprietary trading firm operating for about 4 years, offering multiple challenge models with varying leverage on different asset types. Commissions are applied on FX, Metals, and other commodities, while indices and crypto trading have no commission.
OANDA Prop Trader
ActiveMT2–4 yrs
OANDA Prop Trader is a Malta-registered proprietary trading firm backed by the regulated OANDA broker group with over 25 years of experience. It offers a two-phase evaluation challenge with profit targets of 8% for phase 1 and 5% for phase 2, daily loss limits of 5%, and a maximum funding allocation of $500,000. Traders access over 60 instruments, including forex, metals, commodities, indices, and crypto, using MetaTrader 5, with leverage up to 1:100. Profit splits are up to 90%, challenge fees are refundable upon first payout, and payouts occur bi-weekly. OANDA Prop Trader is highly rated for transparency, reliability, and fast payouts.
Key Differences
Note: Information is for reference only; please visit the firm’s official website for the most accurate and up-to-date details.
Criteria
Blue Guardian Capital (BGC)
ActiveAE2–4 yrs
OANDA Prop Trader
ActiveMT2–4 yrs
Scaling:
Yes, leverage scaling up to 1:100 on most assets
Scaling possible up to $500,000 virtual funded account
Max Allocation:
Up to $400,000
$500,000
Model / Profit Targets:
Instant, 1-Step, 2-Steps, 3-Steps
2-phase evaluation; Phase 1: 8% profit target; Phase 2: 5%; Limited time (30 days each phase)
Time Limits:
Not explicitly stated
30 days per phase; unlimited time after funded
DD (Daily/Overall):
Varies by asset; Forex 1:30-1:100 leverage, Metals/Indices/Other commodities 1:10-1:20, Crypto 1:2 leverage
5% daily loss limit; 10% max overall drawdown
Max Loss:
Not explicitly stated
Enforced by drawdown limits
News Trading:
Not explicitly stated
Limited restrictions around high-impact events
Payout:
Payment methods listed but no detailed terms
Bi-weekly payouts; challenge fee refunded after first payout
Split:
Not explicitly stated
Up to 90% profit split
Platforms:
Not explicitly stated
MetaTrader 5
Tradable Assets:
Forex, Metals, Indices, Crypto, Other Commodities
Forex, metals, commodities, indices, cryptocurrencies
Commissions & Spreads:
$5 per lot FX, Metals, Other Commodities; No commission for Indices and Crypto
Spreads from 0.0 pips; $7 commission per lot on forex and gold
Country Access:
North Korea, Syria
Restricted in certain jurisdictions; available globally otherwise
Reputation:
N/A
Expert Advisors allowed; trading restrictions apply mainly around news events
Pros & Cons
Blue Guardian Capital (BGC) — Pros
- Multiple paths including Instant, 1-step, 2-steps, and 3-steps.
- Broad asset coverage across FX, metals, indices, crypto, and other commodities.
- Leverage scales up to 1:100 on many assets, favoring active intraday styles.
- Zero commissions on indices and crypto with transparent $5/lot on FX and metals.
Blue Guardian Capital (BGC) — Cons
- Key terms like profit split, time limits, and max-loss are not clearly disclosed.
- News-trading rules are unspecified, reducing predictability for news strategies.
- Country access limitations may restrict some traders.
- Platform availability is not explicitly stated, which may limit platform choice.
OANDA Prop Trader — Pros
- Profit split up to 90%, competitive with top-tier firms.
- No evaluation time limit with flexible pacing.
- Multiple tracks including 1-step and 2-step challenges.
- Payouts processed quickly on frequent cycles.
- Scaling program available post-funding.
- Supports MT5/TradingView-style platforms with diversified instruments.
OANDA Prop Trader — Cons
- Minimum trading-days requirements may apply on certain tracks.
- Strict daily/overall loss parameters compared with some peers.
- Strategy restrictions (e.g., news windows) can apply by phase/instrument.
- Subject to regional restrictions; not all countries are eligible.
Model & Time Limits: Pace vs. Pressure
- Instant / One-step models favor traders who want quick funding and minimal phases—usually higher fees but faster start.
- Two-phase models trim upfront cost and add verification, but Time Limits can add pressure if you need more trades to realize edge.
- No time limit or lenient windows reduce forced trades; tight windows reward fast, high-activity approaches.
Risk Rules: DD (Daily/Overall) & Max Loss
- Stricter Daily DD = tougher for scalpers during volatility; looser Daily DD = more room for heat intraday.
- Higher Overall DD / Max Loss cushions swing holds; lower buffers suit disciplined, tight-stop systems.
- News Trading allowed favors event traders; restricted news reduces gap risk but limits catalysts.
Payout & Split: Cash Flow vs. Percentage
- Earlier first payout (7–14 days) + frequent cycles = smoother cash flow—even if the split is slightly lower.
- Higher splits shine only if timing, caps, and fees don’t slow you down.
- When two firms tie on split, choose the one with fewer payout frictions (methods, fees, thresholds).
Scaling / Max Allocation: Real Path vs. Big Number
- Clear, incremental scaling (defined profit targets & min days) beats a flashy Max Allocation you’ll rarely reach.
- Shorter milestones reward consistent returns; longer gates suit patient compounding.
Platforms & Tradable Assets: Execution Fit
- Multiple platforms (MT4/MT5/cTrader/TradingView) = flexibility. Single-platform firms can be fine if execution is stable.
- Broader asset lists (indices, FX, commodities, crypto, stocks) unlock more setups; narrow menus force concentration risk.
Commissions: Quiet Edge Eroder
- Lower per-lot/contract commissions preserve edge for active traders; higher costs can negate a better split.
- When two firms feel identical, pick the cheaper fill—it compounds every session.
Restricted Countries: Eligibility & Payout Practicalities
- Check Restricted Countries first—eligibility, KYC friction, and payout rails differ by region.
- If your country is borderline, choose firms with clear guidance and multiple withdrawal methods.
Pros & Cons: How to Read Them Quickly
- Generous drawdown but stricter news → great for non-event strategies.
- Fast payouts but higher commissions → suits low-turnover setups.
- Big scaling but tight time limits → favors high-activity traders.
Make the Call in 5 Checks
- Model & Time — need speed (instant/1-step) or flexibility (no/lenient limits)?
- Risk Rules — DD & Max Loss align with your drawdown profile?
- Payout Mechanics — first payout timing & cycle fit your cash flow?
- Scaling Reality — milestones you can actually hit?
- Costs & Execution — commissions + platform stability ok for your style?
Then use the table’s Discount link, check Trustpilot sentiment, and Visit website for fine print.
FAQs
What’s the fastest path to first payout?
Firms with early first payout windows (often 7–14 days) and weekly/bi-weekly cycles. Confirm fees and caps.
Which firms suit news/event traders?
Those explicitly allowing news trading or with clearly defined windows. If restricted, plan around releases.
How do I break a tie between two similar firms?
Pick the one with looser Daily DD, cheaper commissions, or simpler payout rules—whichever matters most to your P&L.
