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.
This comparison contains an Inactive firm. Information may be outdated.
Smart Prop Trader
Inactive US 2–4 yrs
Smart Prop Trader has been delisted and is no longer featured. While this firm was previously included on our platform, it has since been removed from our listings.
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
Smart Prop Trader
Inactive US 2–4 yrs
TX3 Funding
Active US <2 yrs
Scaling:
Scalable up to $2.5 million via consistent performance
Available; consistent performance can increase max contract size (micro scaling for Starter)
Max Allocation:
$5,000 to $100,000 per standard account
$150,000 (account options: $50K, $100K, $150K)
Model / Profit Targets:
2-step evaluation; Pro: 8% target, 5% daily loss; Standard: 7% target, 4% loss
One-step evaluation; Starter: $3K profit target; Pro: $4K; others: $6K for 100K
Time Limits:
2-step evaluation; Pro: 8% target, 5% daily loss; Standard: 7% target, 4% loss
No time limit; no minimum trading days
DD (Daily/Overall):
Pro: 5% daily/12% overall; Standard: 4% daily/8% overall
Daily loss limit (Starter: $1200); trailing max drawdown (Starter: $2,500, Pro: $2,000); EOD drawdown
Max Loss:
8-12% overall, depending on account tier
Trailing max drawdown applied at end-of-day
News Trading:
Allowed
Allowed
Payout:
Every 14 days; quick withdrawal process
First payout after 15 days (Starter), then biweekly. Withdrawals processed in 24–48h
Split:
75%-95% profit split, increases with consistency
100% of first $10K; 90/10 after that (in trader\\\'s favor)
Platforms:
DXTrade, Match Trader, cTrader, MT4/MT5
Futures trading platform only (no forex/equities internally at TX3)
Tradable Assets:
Forex, commodities, indices, cryptocurrencies
US futures: ES, NQ, YM, RTY E-mini and similar products
Strategy Policy:
EAs, news trading, hedging permitted; lot size unrestricted
Flexible; consistency rule for Starter; Pro offers more trade size freedom
Commissions & Spreads:
MT4/MT5 commission-free, spreads from 0.0 pips; $4/lot for DXTrade/MatchTrader/cTrader
No commissions/swaps; platform fees included in monthly fee
Country Access:
Global, except sanctioned regions; US-based
Global; no major restrictions on participating countries
Reputation:
Generally positive (Trustpilot ~4.5/5); some complaints about payout speed in 2024
Positive consensus online for speed, support, payout honesty; young brand, some still watching for long-term trust
Pros & Cons
Smart Prop Trader — Pros
- Profit split up to 95%, higher than the market average.
- No hard time maximums beyond any minimum-day rules.
- Offers 1-step and 2-step models including express variants.
- Frequent payout cycles with fast processing and modest minimums.
- Scaling plan available after hitting targets.
- Supports MetaTrader with diversified instruments.
Smart Prop Trader — Cons
- Minimum trading-days rules apply on some programs.
- Strict daily/overall drawdown caps versus looser peers.
- News-trading restrictions may 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.
