Trading with a prop firm can give retail traders the necessary capital and associated income to make their trading efforts worthwhile. Still, it does not necessarily provide a competitive edge. Trading remains dominated by algorithms, placing manual traders at a distinct disadvantage regardless of how much capital they manage. Therefore, trading with prop firms allowing EAs may level the playing field.
Want to know what you need before getting started? Read my research into prop firms allowing EAs to begin on the right footing.
Prop Firms that Allow EAs, Bots, and Algos
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- DNA Funded, .
- Hola Prime, The best prop firm for ultra-fast withdrawals.
- Rebels Funding, The best prop firm for fast withdrawals.
- Axi Select, .
- Eightcap Challenges, .
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Year Established | N/A | 2024 | 2023 | 2023 | 2015 |
Minimum Deposit | |||||
Trading Platform(s) | Other+ | Other, MetaTrader 5, cTrader, DX Trade+ | Proprietary platform, Trading View | MetaTrader 4, MetaTrader 5 | Other, MetaTrader 4, MetaTrader 5+ |
| Visit Website | Visit Website | Visit Website | Visit Website | Visit Website |
DNA Funded
In SummaryI rank DNA Funded among the best Forex prop firms for its low evaluation fees. Traders pay $49 to $1,209 for portfolios between $5,000 and $200,000. Traders can choose among 16 challenges and one-phase, two-phase, and 10-day rapid evaluations. DNA Funded offers add-ons to increase the profit share up to 90% and decrease the payout frequency to seven days.
Prop traders will trade via the TradeLocker platform. The maximum daily drawdown is 5% for the one-step evaluation, 6% for the two-step alternative, and 4% for the 10-day challenge, with a maximum drawdown of 6%, 10%, and 5%, respectively.
Pros & Cons
- Maximum profit share of 90%
- Max allocation of funded accounts up to $600K
- Transparent trading conditions with TradeLocker login details
- A well-balanced asset selection of 800+ assets
- Limited operational history
Hola Prime
In Summary The best prop firm for ultra-fast withdrawalsHola Prime is a transparent retail prop trading firm with four trading platforms and a maximum profit share of up to 95%. Traders can choose a one-step or a two-step evaluation for portfolios between $5,000 and $300,000, with an evaluation fee between $48 and $1,499. Alternatively, the Direct account is without evaluation and a one-time cost between $129 and $2,249. Therefore, I rank Hola Prime among the best prop firms.
Traders must trade for at least two days per challenge. The maximum daily drawdown is between 3% and 5%, with a maximum drawdown between 5% and 8%.
Pros & Cons
- A maximum profit share of 95%
- Four trading platforms
- Scalable accounts up to $4M
- One hour payouts
- Reletively newer firm (around one year old)
Rebels Funding
In Summary The best prop firm for fast withdrawalsI rank Rebels Funding among the best prop firms, as it offers the most evaluation choices. They include a four-step evaluation with a low 5% profit target. Rebels Funding has no time limits on achieving profit targets, but it has a minimum trade requirement. Traders can also enroll in competitions and win funded accounts with a cash prize. Another unique feature is that Rebels Funding has a refund fee of up to 200%.
The daily drawdown ranges from 0% to 5%, with a maximum drawdown between 6% and 10%. Traders receive a profit split of up to 90%.
Pros & Cons
- No time limit on evaluations
- High profit share
- Wide range of program options
- Some platform lag issues reported
Axi Select
In SummaryAxi launched its Axi Select in-house prop trading service, which sets itself apart from the industry by not requiring a fee-based evaluation, making it 100% free. Interested traders must open a live Axi trading account, fund it with at least $500, and start trading. The personalized Edge Score determines eligibility for a funded account, and Axi has a six-stage program that scales with the trader. For the initial stage, the $500 deposit grants access to a $5,000 account, and the profit share is 0%. It lasts for at least 30 trading days, has a 7% profit target, and requires 20 trades.
The second stage requires a minimum equity balance of $1,000, caps funding at $20,000, and increases the profit share to 40%. The maximum leverage is 1:100 with a maximum drawdown of 10%. The Axi Select structure is created highly professionally, making Axi one of the best prop firms.
Pros & Cons
- Unrestrictive Rules: There are no time limits to qualify; EAs are permitted.
- Scale up to $1 Million
- Backed by a Broker: Run by Axi (founded 2007)
- No Registration Fees: A unique model where you do not pay for an evaluation; the entry cost is zero.
- Regional Restrictions: Program is not available to the US, UK, EU, or Australia.
Eightcap Challenges
In SummaryDay traders get a unique offer: a 1-hour, 2-hour, 4-hour, and 8-hour challenge, a trading stake selection between $5 and $500, and payout ratios of 2, 5, and 10 times. The selection determines the drawdown and profit target, while all accounts start with a $10,000 balance. Traders can use MT4/MT5 and TradeLocker. This places Eightcap Challenges among the best prop firms. Qualifying traders can request payouts in Bitcoin, USDT (TRC20), or USDT (ERC20). KYC requirements are mandatory for withdrawals exceeding $1,000, in line with industry standards.
Eightcap Challenges also offers traditional one- and two-phase evaluations with five account sizes ranging from $5,000 to $200,000, with up to $600,000 in allocated capital per trader. The maximum leverage is 1:100, with a 80% profit share. The one-time evaluation fees range between $99 and $1,299. The profit target is 10% except for the second phase of the two-phase evaluation, where it decreases to 8%.
Pros & Cons
- No time limits on One-Phase and Two-Phase challenges
- Traders can complete challenges within hours and earn payouts on the same day.
- Day Trader Challenges offers a completely customizable trading experience – traders choose their own duration, stake and payout.
- Operated by the multi-regulated Eightcap Group
- Scalping is restricted; trades must be open for 60 seconds
What Are Expert Advisors (EAs)?
Expert Advisors (EAs) are algorithmic trading solutions executed in the MT4 and MT5 trading platforms. They can vary from simple EAs that are long-term unprofitable to sophisticated human-like trading solutions with machine learning and AI-assisted components, high-frequency bots, news trading bots, and scalping bots.
The most advanced EAs can also read fundamental reports, economic news releases, and social media posts. They can also search video or audio content to react and adjust trading strategies. However, they are rare and under tight guard by the companies who develop, maintain, and deploy them. Among the thousands of EAs that retail traders can download for free or via paid-for subscriptions or one-off fees, the challenge remains to obtain one with long-term profitability.
Understanding Prop Firm EA Trading
Genuine prop firms who seek profitable trading strategies will allow them, as 80%+ of trading is algorithmic. The only restriction prop firms allowing EAs place is compliance with their trading rules.
Why Do Some Prop Firms Not Allow EAs?
Many prop firms keep traders in demo accounts and earn from one-time evaluation fees or allow live trading in B-books for a monthly fee. Therefore, they prefer traders to generate minimal to no profits while they continue to earn from recurring costs. They may also lack the infrastructure to support EA trading.
Pros and Cons of Prop Firms That Allow EA Trading
Before paying for funded accounts, prop traders should consider the pros and cons of prop firms allowing EAs.
The Pros of Prop Firms that Allow EA Trading
- Emotionless trading
- Compliance with risk management rules
- 24/5 trading
- Ability to analyze and trade more assets
- Access to capital
The Cons of Prop Firms that Allow EA Trading
- Inadequate trading infrastructure
- Restrictive trading conditions
How to Select a Prop Firm Compatible with EAs
All competitive prop firms allowing EAs share similar core criteria to ensure competitive trading conditions.
Prop firms allowing EAs must offer the following:
1. Reputation - Prop firms are unregulated but duly registered businesses. Therefore, I urge traders to avoid newly established prop firms. Reading reviews can help, but traders should approach them with caution and avoid reviewers without a history.
2. Trading Platforms - Prop traders must ensure that MT4, MT5, or cTrader are available.
3. Trading Costs - Trading fees depend on the broker of prop firms. Additionally, US-based prop firms charge monthly subscription fees, which are recurring costs traders should consider. Non-US prop firms have one-time evaluation fees, making them a significantly more cost-effective option.
4. Profit Share - I recommend traders look for a profit split between 80% and 90%+.
5. Asset Selection - The asset selection depends on the prop firm and their partner broker but should include a balanced mix of liquid trading instruments.
6. Trading Strategies - Traders must verify that their prop firms allow the trading style they wish to execute, as some prop firms have no restrictions, while others restrict or prefer select strategies.
7. Support - Trading with legitimate prop firms involves a contract and receiving payouts. Therefore, I only recommend prop firms with fast, responsive customer support available 24/5.
8. Payouts - Bank wires remain the go-to payment processors, but the best prop firms allowing EAs also allow cryptocurrency transactions with fast internal processing times.
Bottom Line
The best prop firms allowing EAs provide competitive trading conditions for prop traders, including deep liquidity, fast order execution, algorithmic trading platforms, and competitive leverage settings. Prop traders are free to deploy EAs, but they must ensure compliance with strict trading rules and make necessary adjustments to their risk management profiles.
