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.
OANDA Prop Trader
Active MT 2–4 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.
TX3 Funding
Active US <2 yrs
TX3 Funding is a futures proprietary trading firm launched in 2021 by the founders of TopTier Trader, notable for its fast payouts, no time limits, and a one-step evaluation model. With over $25 million paid to traders and robust global participation, TX3 Funding emphasizes simplicity, transparency, and flexible risk controls. It offers both “Starter” and “Pro” account types, competitive profit splits, and is recognized for its supportive trading community and educational focus.
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
OANDA Prop Trader
Active MT 2–4 yrs
TX3 Funding
Active US <2 yrs
Scaling:
Scaling possible up to $500,000 virtual funded account
Available; consistent performance can increase max contract size (micro scaling for Starter)
Max Allocation:
$500,000
$150,000 (account options: $50K, $100K, $150K)
Model / Profit Targets:
2-phase evaluation; Phase 1: 8% profit target; Phase 2: 5%; Limited time (30 days each phase)
One-step evaluation; Starter: $3K profit target; Pro: $4K; others: $6K for 100K
Time Limits:
30 days per phase; unlimited time after funded
No time limit; no minimum trading days
DD (Daily/Overall):
5% daily loss limit; 10% max overall drawdown
Daily loss limit (Starter: $1200); trailing max drawdown (Starter: $2,500, Pro: $2,000); EOD drawdown
Max Loss:
Enforced by drawdown limits
Trailing max drawdown applied at end-of-day
News Trading:
Limited restrictions around high-impact events
Allowed
Payout:
Bi-weekly payouts; challenge fee refunded after first payout
First payout after 15 days (Starter), then biweekly. Withdrawals processed in 24–48h
Split:
Up to 90% profit split
100% of first $10K; 90/10 after that (in trader\\\'s favor)
Platforms:
MetaTrader 5
Futures trading platform only (no forex/equities internally at TX3)
Tradable Assets:
Forex, metals, commodities, indices, cryptocurrencies
US futures: ES, NQ, YM, RTY E-mini and similar products
Strategy Policy:
Expert Advisors allowed; trading restrictions apply mainly around news events
Flexible; consistency rule for Starter; Pro offers more trade size freedom
Commissions & Spreads:
Spreads from 0.0 pips; $7 commission per lot on forex and gold
No commissions/swaps; platform fees included in monthly fee
Country Access:
Restricted in certain jurisdictions; available globally otherwise
Global; no major restrictions on participating countries
Reputation:
High ratings for transparency, payout speed, and regulation compliance
Positive consensus online for speed, support, payout honesty; young brand, some still watching for long-term trust
Pros & Cons
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.
TX3 Funding — Pros
- No minimum trading days and no evaluation time limits, offering full flexibility.
- Fastest payouts in the industry (24–48h), with very high initial profit retention (100% first $10K).
- Transparent, simple trading rules with risk controls, no hidden activation/platform fees.
- Wide account choice and micro scaling options; supportive community and strong educational resources.
- Reputable background via TopTier Trader, $25M+ in trader payouts, and growing global user base.
TX3 Funding — Cons
- Limited to US futures assets (no forex or equities directly within TX3 Funding program).
- Subscriptions are monthly, so ongoing fees may be a burden if not trading/earning consistently.
- Strict trailing drawdown may challenge highly aggressive, high-risk traders.
- Brand’s reputation is still relatively new (founded 2021), so some traders are waiting for a longer track record before full trust.
- As with all prop firms, funding and compliance still hinge on risk management and adherence to rules.
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.
