Overview
A prop trading contest is a time-boxed competition run by a proprietary trading firm on its own simulated platform: you trade the firm's demo environment against other entrants, and the leaderboard decides who wins cash or funded accounts. Unlike an evaluation, most standing contests cost nothing to enter - the firm runs them as community and marketing programs, which is exactly why they are worth knowing about.
As of October 2026 the prop industry has two clearly published standing programs - FundedNext's monthly competition and The5ers' weekly demo contest - while most other major firms (including FTMO and Topstep) run no public prize contest at all. Every figure on this page comes from the firms' own contest pages; prize pools and schedules move, so treat the official page as the source of truth before you register.
- How prop demo competitions work
- FundedNext monthly competition (official)
- The5ers weekly demo contest (official)
Contests running right now
| Contest | Cadence | Entry | Prize shape | Status |
|---|---|---|---|---|
| FundedNext Monthly Competition | Monthly | Free | Up to $5,000 cash plus funded accounts (760 winners in the October 2026 pool) | Active |
| The5ers Trading Competition | Weekly | Free | Top 100 weekly: cash, free accounts, merchandise and Hub credits | Active |
Both programs publish their current heat - start date, participant cap and full prize list - on the official contest pages linked above. Registration windows are short, and The5ers runs additional partner-branded heats, so check the live page rather than planning around last month's schedule.
Why every prop contest is a demo competition
Contest accounts are simulated: you never deposit or risk personal funds, and the firm's risk engine enforces the same loss limits it uses on evaluations. What is real is the prize - cash is paid in normal money, and funded-account prizes carry the firm's standard payout terms. That combination (free practice, real rewards) is the entire pitch, and it is also why contests double as a no-cost way to test a firm's platform, spreads and rule enforcement before buying an evaluation.
Contests vs evaluations
The two products look similar - simulated accounts, loss limits, the firm's money at stake if you graduate - but they are built for different jobs:
- Evaluation: you pay a fee, trade your own pace against a profit target, and keep the funded account if you pass.
- Contest: you pay nothing, trade a fixed window against a field of entrants, and rank on a leaderboard instead of a target.
- Risk to your wallet: an evaluation fee is sunk if you fail; a free contest costs only your time.
- Skill rewarded: evaluations punish drawdown above all; leaderboard contests often reward aggressive, high-variance sizing near the top.
Which firms run a contest?
| Firm | Contest program | Notes |
|---|---|---|
| FundedNext | Monthly competition, free entry | Cash + funded-account prizes; rules published on the official page |
| The5ers | Weekly demo contest, free entry | Top-100 weekly winners; prizes include cash, free accounts and Hub credits |
| FTMO | No standing public contest | Free Trial and a public leaderboard instead of a prize competition |
| Topstep | No public contest | The Trading Combine is the product; no prize competition on the official site |
| Apex Trader Funding | No contest found | Evaluation-only product line as of October 2026 - check the official site |
| E8 Markets | No contest found | Evaluation programs only as of October 2026 - check the official site |
| Earn2Trade | No contest found | Education-and-assessment route, no public prize contest found |
| Rebels Funding | No contest found | Evaluation programs only as of October 2026 - check the official site |
| Funding Pips | No contest found | Evaluation and instant funding only as of October 2026 - check the official site |
| MyFundedFutures | No standing contest found | Product schema carries a competition-account flag, but no public contest was listed - check the official site |
Status verified against each firm's official site in October 2026. Firms marked "no contest found" may still run one-off events announced on their blogs or Discord - the standing, always-on programs are the two listed at the top.
How we vet a contest before entering
- Rulebook stability: the rules on day one of the window are the rules on the last day, with changes published and dated.
- Published prizes: the full prize list exists before registration opens, and past winner lists are public.
- Transparent scoring: a live leaderboard with the same equity view for every entrant.
- Enforced fairness: one entry per person, automation banned and disqualifications applied consistently.
- Prize payout terms: cash credited on a published schedule (FundedNext states 24 hours after close), not 'at the firm's discretion'.
Our Verdict
Prop trading contests are FOR traders who already like a firm's platform and want free practice with prize upside - both standing programs cost nothing and risk nothing. The honest tradeoff: leaderboard formats reward hot-streak, high-variance sizing, so a contest result tells you more about your risk appetite under spotlight than about whether you would pass the firm's actual evaluation. Use them as platform tests and motivation, not as proof of funding readiness.
How We Cover Prop Contests
We track the standing contest pages of the profiled prop firms and re-check them when the published terms move. Prize pools, rules and schedules quoted here come from each firm's own contest page on the dates noted - when a firm publishes a new program (or retires one), this page and the coverage table change with it. None of the contest entry links on this page are affiliate links; we may earn a commission if you later buy an evaluation through our review links.
Related pages
Frequently Asked Questions
Are prop firm trading contests free?
The two standing programs are: FundedNext's monthly competition and The5ers' weekly demo contest both have zero entry fee and no purchase required. Some firms have charged entry for one-off events in the past - always confirm on the official contest page before registering.
Can you win real money in a prop contest?
Yes. Cash prizes are paid in real money on the firm's published schedule, and funded-account prizes let winners trade the firm's capital under its standard payout rules. The trading itself happens on simulated accounts.
Do you need an evaluation account to compete?
No. Both standing programs are open to new accounts - you register on the firm's site, get a competition account, and trade the published window. Entering a contest does not advance or replace any evaluation you may have bought.
Which firm runs the best contest?
FundedNext has the larger prize pool and a monthly cadence; The5ers runs shorter weekly heats that suit traders who want regular practice. Both are free, so the practical answer is to enter both and judge the platform experience itself.
Last updated: 2026-10-20