The Prop Firm Checklist: Seven Things to Verify
A practical framework for checking markets, platforms, risk rules, fees, payouts and the sources behind each profile.
A long list of firms becomes easier to research when every profile is evaluated with the same questions. This checklist helps organize that research. The answers should come from the exact program you intend to use, not from a different product's headline claims. Save links as you work so you can revisit the evidence when terms change.
1. Market and account stage
Identify whether the product concerns CFDs, Futures or another market. Check which stages use simulated trading and which have different terms. Keep a brokerage account funded with your own money separate from a prop evaluation when comparing costs and conditions.
2. Platform and access
Confirm the supported platform, device access, market data and regional eligibility. A platform listed on a firm's website may not be available for every product or country. If you can try the interface, inspect order entry, reporting and account metrics before committing to a paid evaluation.
3. Targets and risk limits
Record each phase's profit target, daily loss, maximum loss, minimum activity and time limit. Read drawdown formulas as well as percentages. Separate evaluation objectives from the rules that remain in force after passing.
4. Strategy restrictions
Check economic-release trading, automated strategies, copying trades and holding positions through weekends. An allowed activity may still have specific limitations. Read the linked documentation and ask support to clarify cases that are not addressed.
5. Fees and promotions
Record the list price, billing currency, add-ons and final checkout total. For a promotion, confirm the program, account size and eligibility. Avoid comparing one firm's temporary discounted price with another firm's standard price without making that distinction clear.
6. Payout requirements
Read waiting periods, qualifying activity, minimum amounts, payout caps and identity-verification steps. Distinguish the base profit share from a maximum available after scaling. The payout policy of an Express or simulated account may differ from a later live stage.
7. Sources and freshness
Keep the official URL and checking date for financial rules. Label external ratings with their source and review count; do not treat them as reviews collected by your own website. Missing information should remain clearly unavailable until verified. That makes the directory useful as a research tool without creating a false impression of certainty.
Turn the checklist into a research sheet
Use a repeatable record rather than comparing from memory. Start with the firm's legal/operator name where published, its official domain, your country of residence and the exact account you are examining. For each of the seven checks above, save the answer, URL and date. If a source does not answer your question, mark it as unresolved. An empty fact should lead to a follow-up, rather than being interpreted as no restriction.
Read account size alongside the actual risk buffer
A nominal $100,000 account label does not tell you how much loss is permitted or whether the account operates in a simulated environment. Two accounts carrying that label can have different loss floors, contract limits and payout conditions. For futures evaluations, dollar-denominated drawdown and maximum contracts can be more informative than applying CFD leverage percentages. Keep the nominal size, loss allowance and permitted position size in separate cells.
Separate verified information from marketing
A maximum advertised profit share may require scaling, an add-on or several payouts. A large scaling ceiling is not necessarily the starting allocation. Likewise, an on-demand reward can still require qualifying days, consistency, a minimum amount or a retained buffer. Translate each headline into a condition: when does it become available, to which account does it apply, and what must happen first?
Use ratings as a source of questions
External ratings have their own collection rules, sample sizes and moderation policies. Read the count alongside the score, then look for specific experiences that relate to your chosen product: platform access, support responses, rule explanations and reward handling. A small sample, a historical snapshot or an unavailable score should remain visible as such. Reviews can guide further research, but they do not replace the contractual terms of the account.
Ask support about one concrete scenario
Broad questions often produce broad answers. Instead of asking whether a trading style is allowed, describe the relevant behavior: the platform, account stage, average holding period, automation or copier involved, and the event or weekend you intend to hold through. Request the current policy link and retain the written answer. If two official sources disagree, ask which one controls your product and purchase date.
A reusable final checklist
- Eligibility confirmed for residence, identification documents, payment method and selected platform.
- Complete fee recorded, including optional features, subscriptions, resets and activation charges where applicable.
- Evaluation targets and qualifying-day definitions saved from the current product documentation.
- Daily and overall loss formulas understood, including equity, reset times and enforcement.
- EA, copier, news, weekend and inactivity policies checked for the funded stage.
- Reward share, minimum, cap, processing fees and post-withdrawal buffer recorded.
- Conflicting or missing answers resolved, with sources and verification dates retained.
Revisit this sheet when you change account size, platform, payout option or product. Those choices may change the rules even when the firm name stays the same. The aim is a comparison you can explain and update, with each important condition supported by a current source.
Sources
About PropScope Editorial
Original prop trading guides and firm research compiled from published sources. Our articles help readers understand and compare program conditions.