# Guides for prop firm founders

> Researched guides on launching, running and growing a prop firm.

- Source: https://pipvalley.com/guides
- Publisher: PipValley - web design studio for prop trading firms
- Updated: 2026-10-16

- [Prop Firm CRM: Features, Options and What to Ask (2026)](https://pipvalley.com/guides/prop-firm-crm): A prop firm CRM is the back office that tracks every trader from first purchase to payout: orders, evaluation status, KYC, support tickets, affiliate attribution and payout approvals. In 2026 most firms get one bundled with their white label or platform. The questions that matter are who owns the data, whether it…
- [Prop Firm Website Checklist: Every Page and Section (2026)](https://pipvalley.com/guides/prop-firm-website-checklist): A prop firm website needs about a dozen pages before launch: challenges and pricing, trading rules, payouts and proof, FAQ, affiliates, platforms, restricted countries, about, contact, and a legal set covering terms, refunds, risk disclosure and privacy. In 2026 the strongest sites also put the rules beside the…
- [How Do Prop Firms Make Money? An Operator Explains](https://pipvalley.com/guides/how-do-prop-firms-make-money): A prop firm makes money mainly from evaluation fees: traders pay to take a simulated challenge, and only a minority pass and later receive payouts. A firm stays healthy while payouts stay well below fee revenue. Topstep, one of the few firms that publishes figures, says 16.8% of its 2025 Trading Combines were…
- [How Much Does a Prop Firm Website Cost? (2026 Prices)](https://pipvalley.com/guides/prop-firm-website-cost): A prop firm website costs from nothing for a platform-bundled site to $25,000 or more for an agency build, as of October 2026. Marketplace themes list for $29–$159, specialist freelancers on Dribbble list from about $2,000–$4,000, and general agency guides put entry-level builds at $15,000–$25,000. The price tracks…
- [What Is a Prop Firm? The Operator's Definition](https://pipvalley.com/guides/what-is-a-prop-firm): A prop firm today is usually an evaluation business: traders pay a fee to trade a simulated account under the firm's rules, and those who pass and keep to the rules can earn payouts calculated from simulated profits. The firm earns from fees and pays rewards from that revenue. Traditional proprietary trading firms,…
- [How Do Prop Firms Work? The Business Behind the Challenge](https://pipvalley.com/guides/how-do-prop-firms-work): Prop firms work by selling evaluations. A trader pays a fee, trades a simulated account under set rules, and if they pass, trades a simulated funded account that can earn real payouts. The firm pays those payouts from the fees of all traders, so it stays healthy only while payouts stay predictably below fee revenue,…
- [What Is a Proprietary Trading Firm? Old Model vs New](https://pipvalley.com/guides/what-is-a-proprietary-trading-firm): A proprietary trading firm trades its own capital in real markets and keeps the profits, rather than earning commissions from clients. Most firms marketed as prop firms since the late 2010s use a different model: they sell simulated evaluations and pay rewards to traders who pass. Both are called prop firms, but…
- [Do Prop Firms Use Real Money? What Operators Actually Do](https://pipvalley.com/guides/do-prop-firms-use-real-money): Most evaluation prop firms do not trade real money for their traders. Challenges and funded accounts are simulated, and payouts are real money paid from the firm's revenue. Some firms copy or hedge selected traders in live accounts, and a few move a small share of traders to live funded accounts, but that is an…
- [Where Do Prop Firms Get Their Money?](https://pipvalley.com/guides/where-do-prop-firms-get-their-money): Most evaluation prop firms get their money from traders: challenge fees, resets and add-ons pay for payouts, affiliates, technology and profit. Few raise outside capital, and the trading itself is usually simulated. Founders still need their own money for launch costs and, unless a white-label provider carries…
- [Are Prop Firms Profitable? What the Numbers Show](https://pipvalley.com/guides/are-prop-firms-profitable): Prop firms can be very profitable, but profit is volatile and many firms fail. FTMO's parent reported 2024 revenue of about $329 million and net profit of about $62.5 million, per Finance Magnates; FTMO's 2025 net income then fell 59% on record revenue, per TradeInformer. Meanwhile Finance Magnates estimated 80 to…
- [How Much Do Prop Firms Make? Revenue and Owner Earnings](https://pipvalley.com/guides/how-much-do-prop-firms-make): Prop firm revenue ranges from almost nothing to hundreds of millions of dollars a year. FTMO reported about $422.9 million of revenue for 2025, per TradeInformer, and TradeInformer reported Topstep made over $25 million in 2020 from legal documents it reviewed. Most firms are far smaller, and what an owner keeps…
- [Do Prop Firms Need a License? What to Ask a Lawyer](https://pipvalley.com/guides/do-prop-firms-need-a-license): Whether a prop firm needs a license depends on how its product is structured and where it sells, and only a lawyer in each jurisdiction can answer it for your firm. Many evaluation firms operate without a broker license because accounts are simulated and traders deposit no trading funds. Some large firms are adding…
- [Are Prop Firms Regulated? The State of Play in 2026](https://pipvalley.com/guides/are-prop-firms-regulated): Evaluation prop firms are mostly not regulated as prop firms: as of October 2026 we know of no major regulator with a rulebook specific to them. They still fall under general law, such as consumer protection, financial-promotion rules, advertising codes and anti-money-laundering checks, and some large firms now own…
- [Will Prop Firms Be Regulated? Signals for Founders](https://pipvalley.com/guides/will-prop-firms-be-regulated): Nobody can say for certain whether prop firms will be regulated, but the signals point to gradual pressure rather than a sudden rulebook. ESMA is not discussing it, per CySEC's chair in June 2026; ASIC is monitoring; large US firms are registering introducing brokers. Founders should build firms that would pass…
- [Are Prop Firms Legal in the US? A Founder's View](https://pipvalley.com/guides/are-prop-firms-legal-in-the-us): Prop firms operate openly in the US, especially in futures, and no US rulebook specific to evaluation firms exists as of October 2026. That does not make every structure lawful. The CFTC's MyForexFunds case was dismissed in 2025 for the agency's conduct, not on the model's merits, and platform access for US traders…
- [Are Prop Firms Legal in the UK? What Founders Should Know](https://pipvalley.com/guides/are-prop-firms-legal-in-the-uk): Prop firms operate in the UK and there is no FCA rule specific to evaluation firms as of October 2026. UK founders still face financial-promotion rules, the FCA's FG24/1 guidance on social media promotions, ASA rules on affiliate advertising and anti-money-laundering checks. Whether your product counts as a…
- [Are Prop Firms Legal in Australia? ASIC's Position](https://pipvalley.com/guides/are-prop-firms-legal-in-australia): Prop firms are not banned in Australia, and as of October 2026 we found no ASIC action aimed at an evaluation-model firm. ASIC has said it is "monitoring the emergence of 'prop trading' firms" as a channel for distributing CFDs, and it actively polices CFD issuers. Founders serving Australians should get advice from…
- [Why Are Prop Firms Banning US Traders?](https://pipvalley.com/guides/why-are-prop-firms-banning-us-traders): Prop firms ban US traders mainly because their platforms forced them to and because of US legal caution. MetaQuotes moved against prop firms with US clients in February 2024, and Spotware stopped onboarding US traders to cTrader through prop firms from July 1, 2026. Futures firms still serve the US, and some CFD…
- [Why Do Most Prop Firms Fail? Seven Causes We See](https://pipvalley.com/guides/why-do-prop-firms-fail): Most prop firms fail because they cannot find traders, cannot pay the ones who pass, or lose a supplier they depend on. Finance Magnates estimated 80 to 100 firms closed in 2024, many after MetaQuotes withdrew platform access. Others ran reserves sized for an average month, changed rules retroactively or lost their…
- [Are Prop Firms Going Away? Where the Industry Is Heading](https://pipvalley.com/guides/are-prop-firms-going-away): Prop firms are not going away, but the industry is consolidating. Finance Magnates estimated 80 to 100 firms closed in 2024, yet tracked payouts reached about $325 million in 2025 and large firms are buying or becoming regulated brokers. Expect fewer, bigger firms, more futures and crypto, and more pressure on trust…
- [How Many Prop Firms Are There in 2026?](https://pipvalley.com/guides/how-many-prop-firms-are-there): Nobody has a definitive count of prop firms, because trackers define "active" differently. PropFirmPal, a comparison site we own, held 633 active firm records in October 2026, where active means not marked inactive rather than verified as trading. Finance Magnates estimated 80 to 100 firms closed in 2024, so any…
- [When Did Prop Firms Start? A Short History](https://pipvalley.com/guides/when-did-prop-firms-start): Proprietary trading is as old as trading firms, but the modern evaluation prop firm took off in the 2010s. Topstep was founded in 2012 according to Wikipedia, and FTMO says it has operated since 2015. The model boomed in the early 2020s, was shaken by MetaQuotes' 2024 action, and has been consolidating since 2025.
- [Is a Prop Firm a Broker? The Difference That Matters](https://pipvalley.com/guides/is-a-prop-firm-a-broker): An evaluation prop firm is not a broker. A broker holds client money and executes client orders in a market; a prop firm sells a simulated evaluation and pays rewards from its own revenue. Firms state this on their sites, for example FTMO: "do not act as a broker and do not accept any deposits". Some large prop…
- [What Is a B-Book Prop Firm? A-Book, B-Book and Hybrid](https://pipvalley.com/guides/what-is-a-b-book-prop-firm): A B-book prop firm keeps traders' positions internal: trades stay simulated and payouts are funded from the firm's own revenue. An A-book firm copies selected traders' positions to a live market through a broker or liquidity provider. Most evaluation firms are B-book by nature; hybrid firms A-book a small group of…
- [How Do Prop Firms Manage Risk? The Operator's Toolkit](https://pipvalley.com/guides/how-do-prop-firms-manage-risk): Prop firms manage risk mainly through rule design and cash planning: loss limits and targets, minimum trading days, consistency rules and withdrawal caps tied to account size; detection of abuse such as multi-accounting; a payout reserve sized for a bad month; and, at some firms, copying top traders to live…
- [How Do Prop Firm Payouts Work? The Operator's Process](https://pipvalley.com/guides/how-do-prop-firm-payouts-work): A prop firm payout is a reward calculated from a trader's simulated profits on a funded account and paid in real money from the firm's revenue. The trader requests it after meeting the published conditions; the firm verifies identity, reviews the account against its rules, applies the profit split and pays by bank,…
- [What Percentage of Traders Get a Prop Firm Payout?](https://pipvalley.com/guides/what-percentage-of-traders-get-a-payout): Few firms publish it, so there is no reliable industry figure. Topstep says that in 2025, 16.8% of its Trading Combines were completed, 51.8% of participants reached its Funded Level at least once, and 33.3% of Funded Level participants received a payout, as stated by the firm. A widely repeated "7% of traders"…
- [How Many Traders Pass Prop Firm Challenges?](https://pipvalley.com/guides/how-many-traders-pass-prop-firm-challenges): Published pass rates are rare. Topstep reports that 16.8% of its Trading Combines were completed from January to December 2025, as stated by the firm, and most firms publish nothing comparable. Pass rates depend heavily on the rules, so for an operator the pass rate is an output of challenge design, not a fixed fact…
- [How Do Prop Firms Get Traders When Ads Are Restricted?](https://pipvalley.com/guides/how-do-prop-firms-get-traders): Prop firms get traders mainly through affiliates, creators, comparison sites, search, community and, increasingly, AI assistants. Paid ads play a smaller role because Google limits ads for CFDs and rolling spot forex to certified, licensed advertisers and Meta treats financial products as restricted. Most first…
- [How Should a Prop Firm Price Its Challenges?](https://pipvalley.com/guides/how-to-price-prop-firm-challenges): Price each account size from the bottom up: expected payouts per evaluation sold, plus affiliate commission, discounts, processing, platform fees and KYC, plus a margin for a bad month. Then check the result against what traders see side by side on comparison sites. Pricing by copying competitors without your own…
- [Why Do Futures Prop Firms Charge Monthly Fees?](https://pipvalley.com/guides/why-do-futures-prop-firms-charge-monthly): Futures prop firms have charged monthly fees mainly because their own costs are monthly: exchange data billed per user and platform fees per active account. A subscription matches those costs to revenue. Some firms moved to one-time fees in 2026, Apex most visibly, because single fees are easier to compare and avoid…
- [Can You Buy a Prop Firm? What to Check Before You Do](https://pipvalley.com/guides/can-you-buy-a-prop-firm): Yes, prop firms are bought and sold, from small brands listed for sale to strategic deals like FTMO buying OANDA, Kraken buying Breakout and Topstep buying The Futures Desk. What you buy is a brand, a trader list, payout history and contracts, plus liabilities: unpaid payouts, platform terms and reviews. Due…
- [How Do Payouts Affect a Prop Firm's Cash Flow?](https://pipvalley.com/guides/prop-firm-cash-flow): Payouts make prop firm cash flow lumpy and misleading: fees arrive at checkout, but payouts to traders who pass arrive weeks later, and processors may hold a rolling reserve of your sales. So cash in the bank always looks better than the business. Plan cash for a bad month, when many traders pass and withdraw in the…
- [What Software Does a Prop Firm Need?](https://pipvalley.com/guides/what-software-does-a-prop-firm-need): A prop firm needs a trading platform, a challenge or risk engine that tracks rules and breaches, a trader dashboard, a CRM or back office, payment processing, KYC, affiliate tracking, support tools and a website. A white label bundles most of these for a monthly fee or profit share; licensing them separately gives…
- [Does a Prop Firm Need Its Own Website?](https://pipvalley.com/guides/does-a-prop-firm-need-a-website): Every prop firm needs a website, but not every new firm needs a custom one. If you have no traders yet, the site your platform provider bundles can be enough to launch. Once you compete for traders who compare firms side by side, a site you own, with clear rules, pricing and payout pages, converts better and…
- [How to Set Up a Prop Firm Company: Entity and Banking](https://pipvalley.com/guides/how-to-start-a-prop-firm-company): To set up a prop firm company, choose a jurisdiction with your lawyer and your payment processor together, form the entity, open a bank or payment account that accepts a prop business, register the brand and domain to the company, and prepare terms, risk disclosures and a restricted-countries list. Formation is…
- [How Long Does It Take to Start a Prop Firm?](https://pipvalley.com/guides/how-long-does-it-take-to-start-a-prop-firm): Starting a prop firm takes about 90 days from idea to soft launch if you still need a company, a platform contract and a payment processor. Once those exist, a white-label or licensed-platform launch can be built in about 30 days. Vendor claims of launching in days cover the technology only; legal review, payments…
- [What Trading Platform Should a New Prop Firm Use?](https://pipvalley.com/guides/what-platform-should-a-prop-firm-use): A new prop firm should use the platform its target traders already know, that can legally serve the countries it sells to, and that it can replace. For forex/CFD that usually means Match-Trader, cTrader, TradeLocker, DXtrade or MT5 through a broker; for futures, NinjaTrader or Tradovate Prop, Rithmic routes,…
- [What Legal Documents Does a Prop Firm Need?](https://pipvalley.com/guides/what-legal-documents-does-a-prop-firm-need): A prop firm typically launches with terms and conditions, a risk disclosure, a simulated-trading notice, refund and payout policies, a privacy policy, a restricted-countries list, KYC and AML wording, and affiliate terms. US futures sites commonly add the CFTC Rule 4.41 legend. Have a lawyer in your jurisdiction…
- [What Is the Consistency Rule in Prop Firms? Why Use It](https://pipvalley.com/guides/what-is-the-consistency-rule-in-prop-firms): A consistency rule limits how much of a trader's total profit can come from a single day or trade before they pass or get paid. Firms use it so one outsized day cannot produce a payout the price never allowed for. It is one of the most disputed rules in prop, so publish the formula with a worked example beside the…
- [Are Prop Firms Pyramid Schemes? An Honest Answer](https://pipvalley.com/guides/are-prop-firms-pyramid-schemes): An evaluation prop firm is not a pyramid scheme by design: it sells a defined product, a simulated test with published rules, and pays rewards to traders who pass, not to people who recruit others. Critics have a point that payouts are funded by other traders' fees. The model turns bad when firms sell challenges…
- [Can You Start a Prop Trading Firm in India?](https://pipvalley.com/guides/start-a-prop-trading-firm-in-india): Starting an evaluation prop firm aimed at Indian traders carries real regulatory risk. The Reserve Bank of India's Alert List of entities not authorised to deal in forex under FEMA named prop firms FundedNext and Smart Prop Trader in October 2024, and had 95 entries by November 2025. Get Indian legal advice before…
- [Prop Firm White Label Cost (2026): Published Prices](https://pipvalley.com/guides/prop-firm-white-label-cost): A prop firm white label costs from about $2,750 in setup with no monthly fee (plus a large profit share) to $2,500–$4,000 a month for a fixed licence, as published in October 2026. PropSuite lists $2,749 setup and a 50–70% founder share of net revenue; Match-Trader lists a white label from $2,500 a month;…
- [MT4 and MT5 White Label Cost (2026), and Prop Firms](https://pipvalley.com/guides/mt4-mt5-white-label-cost): An MT5 white label costs roughly $5,000–$15,000 to set up and $1,000–$5,000 a month for the platform, or $2,700–$11,000 a month all-in, according to B2Broker's April 2026 estimates. MT4 is priced on quote. For prop firms the bigger issue is access: MetaQuotes restricted prop firm use in February 2024, so most new…
- [Trading Platform Cost for Prop Firms (2026)](https://pipvalley.com/guides/prop-firm-trading-platform-cost): A trading platform for a prop firm costs about $2,500–$5,000 a month on published plans, as of October 2026: Match-Trader lists a white label from $2,500, platform plus CRM from $4,000 and a server licence from $5,000 a month; TradeLocker Starter is $3,000 a month for 500 active accounts. cTrader and DXtrade are…
- [Prop Firm CRM and Back Office Cost (2026)](https://pipvalley.com/guides/prop-firm-crm-cost): A prop firm CRM and back office costs nothing extra when bundled with a white label, about $4,000 a month as a turnkey platform-plus-CRM package (Match-Trader, as published in November 2024), and is quote only from most standalone vendors, as of October 2026. Add affiliate tracking from $89 a month (Tapfiliate) and…
- [KYC Verification Cost per Check (2026): Veriff, Sumsub](https://pipvalley.com/guides/kyc-verification-cost): KYC verification costs about $0.80–$1.89 per check on published self-serve plans, as of October 2026, plus a monthly minimum of $49–$299. Veriff lists $0.80 (Essential, $49 minimum), $1.39 (Plus) and $1.89 (Premium); Sumsub lists $1.35 (Basic, $149 minimum) and $1.85 (Compliance, $299 minimum). Onfido, now Entrust,…
- [Prop Firm Payment Processing Fees (2026)](https://pipvalley.com/guides/prop-firm-payment-processing-fees): Prop firm payment processing costs about 3.5%–4% plus $0.25 per card transaction on high-risk merchant accounts (PaymentCloud's published averages), with 5%–10% of volume often held in a rolling reserve, as of October 2026. Crypto gateways publish lower fees: NOWPayments from 1%, BitPay 1%–2% plus 25 cents (higher…
- [Prop Firm Company Formation Cost (2026)](https://pipvalley.com/guides/prop-firm-company-formation-cost): Forming a company for a prop firm costs from $100 in state or registry fees to several thousand dollars with agents and offshore setups, as of October 2026. Official fees: UK online registration 100 pounds; Wyoming LLC $100 to file plus at least $60 a year; Delaware LLCs pay a $400 annual tax. Free-zone and offshore…
- [Prop Firm Legal Costs: Terms, Policies, Advice (2026)](https://pipvalley.com/guides/prop-firm-legal-costs): Legal work for a prop firm launch costs about $3,000–$10,000 by Spotware's 2026 estimate, as of October 2026. That covers terms, refund policy, risk disclosure and compliance review. Policy generators such as Termly cost $10–$20 a month for privacy and cookie policies, and a trademark adds $350 per class at the…
- [Prop Firm Marketing Budget: How Much to Spend (2026)](https://pipvalley.com/guides/prop-firm-marketing-budget): A prop firm launch marketing budget is typically $5,000–$15,000, per Spotware's 2026 guide, and our hub guide's tiers run from $2,000 for a lean launch to $25,000 or more for a heavy one (estimates, as of October 2026). Because Google and Meta restrict financial ads, most spend goes to affiliates, influencers,…
- [Prop Firm Payout Reserve: How Much Cash to Hold](https://pipvalley.com/guides/prop-firm-payout-reserve): A prop firm payout reserve should cover a bad month, not an average one: model what you would owe if twice as many traders pass as expected and all withdraw in the same cycle, then hold that in cash. There is no published standard figure. As a reference, Topstep reports 16.8% of its 2025 Combines were completed and…
- [Prop Firm Monthly Running Costs (2026)](https://pipvalley.com/guides/prop-firm-monthly-costs): A prop firm costs roughly $3,000–$8,000 a month to run on a licensed stack before payouts and staff, per Spotware's 2026 tech-stack range, as of October 2026. Published lines include TradeLocker at $3,000 a month, Match-Trader from $2,500, Veriff from a $49 minimum and Crisp from $45. On a profit-share white label,…
- [White Label Forex Broker Cost vs a Prop Firm (2026)](https://pipvalley.com/guides/white-label-forex-broker-cost): A white label forex brokerage costs about $5,000–$15,000 to set up and $2,700–$11,000 a month all-in for an MT5 white label with liquidity and CRM, per B2Broker's April 2026 estimates, before licensing and client-money costs. A prop firm launch runs from about $10,000 on a profit-share white label to…
- [MT5 White Label for Prop Firms: What's Possible in 2026](https://pipvalley.com/guides/mt5-white-label-for-prop-firms): An MT5 white label lets a company run MetaTrader 5 under its own brand on a licensed provider's server. For prop firms it is the hardest route in 2026: MetaQuotes moved against prop firms on grey-labelled servers in February 2024, and B2Broker says MetaQuotes stopped issuing new MT5 white-label licences in late…
- [MT4 White Label for Prop Firms: Should You Still Use It?](https://pipvalley.com/guides/mt4-white-label-for-prop-firms): An MT4 white label is a branded MetaTrader 4 platform running on another company's MetaQuotes licence. It is a legacy route for a new prop firm: MetaQuotes stopped issuing MT4 licences to new brokerages in January 2018, existing licences cannot add servers, and the February 2024 cut-offs hit prop firms on…
- [cTrader White Label for Prop Firms (and the US Change)](https://pipvalley.com/guides/ctrader-white-label-for-prop-firms): A cTrader white label for prop firms is a branded cTrader setup licensed from Spotware, directly or through resellers such as B2BROKER and Voyage Markets. It was the main refuge after MetaQuotes' 2024 action, but in 2026 Spotware restricted onboarding of US traders through prop firms after an internal regulatory…
- [Match-Trader for Prop Firms: Setup, Cost and Website](https://pipvalley.com/guides/match-trader-for-prop-firms): Match-Trader is a trading platform from Match-Trade Technologies that sells prop firms a bundle: the platform, a prop CRM for challenges and evaluation rules, and the Match2Pay crypto processor. As published in October 2026, monthly prices are $2,500 (Basic), $4,000 (Turnkey) and $5,000 (Server), each "request…
- [TradeLocker for Prop Firms: Pricing, Setup and Website](https://pipvalley.com/guides/tradelocker-for-prop-firms): TradeLocker is a web, mobile and desktop trading platform that prop firms license directly. As published in October 2026, its Starter plan is $3,000 a month for up to 500 active accounts, with no setup fee, and an active account is one that had at least one open position in the billing month. Custom tiers cover…
- [DXtrade for Prop Firms: CFDs, Futures and TradingView](https://pipvalley.com/guides/dxtrade-for-prop-firms): DXtrade is Devexperts' white-label trading platform, sold to prop firms for CFDs and, through DXtrade XT, for US and EU futures with dxFeed data. Devexperts said in August 2024 it had onboarded over 40 prop firms in a year. Its integration with TradingView let firms offer TradingView charts for challenges from 2024.…
- [How to Offer TradingView at Your Prop Firm](https://pipvalley.com/guides/tradingview-for-prop-firms): A prop firm offers TradingView through a trading platform that is already connected to it, not by signing with TradingView directly. TradingView's broker integration requires an agreement and a REST API build, and its page does not mention prop firms. In practice firms use DXtrade's TradingView integration,…
- [Rithmic, Tradovate or Volumetrica for a Futures Prop Firm](https://pipvalley.com/guides/futures-prop-firm-platforms): A new futures prop firm in 2026 chooses between Rithmic (data and order routing with front ends such as R|Trader Pro, Quantower, ATAS, Sierra Chart and Bookmap), Tradovate Prop or NinjaTrader Prop (launched October 1, 2025), Volumetrica (dashboards and DeepCharts, used by 20+ futures prop firms by its own count) and…
- [NinjaTrader Prop for Prop Firms: An Operator's Guide](https://pipvalley.com/guides/ninjatrader-for-prop-firms): NinjaTrader Prop and Tradovate Prop are prop-trading versions of NinjaTrader's platforms, launched by NT Technologies on October 1, 2025 for evaluations through funding, with risk controls, TradingView integration and mobile, web and desktop access. Take Profit Trader, Apex Trader Funding and MyFundedFutures were…
- [White Label Trading Platforms for Prop Firms (2026)](https://pipvalley.com/guides/white-label-trading-platforms-for-prop-firms): In 2026 a new CFD prop firm can license Match-Trader (from $2,500 a month as published), TradeLocker (Starter $3,000 a month for up to 500 active accounts), DXtrade or cTrader (quote only), or MT5 through a willing licence holder. Futures firms choose Rithmic front ends, Tradovate or NinjaTrader Prop, Volumetrica or…
- [White Label Forex Broker vs White Label Prop Firm](https://pipvalley.com/guides/white-label-forex-broker-vs-prop-firm): A white-label forex broker takes client deposits and executes real trades on a licensed provider's infrastructure, so it usually needs a broker licence, a liquidity bridge and client-money handling. A white-label prop firm sells evaluation fees for simulated accounts on rented prop technology and pays rewards from…
- [Crypto Prop Firm Platforms: The Operator's Options](https://pipvalley.com/guides/crypto-prop-firm-platforms): A crypto prop firm runs on one of three platform models: challenges on exchange demo accounts connected by API (HyroTrader, for example, uses Bybit and BloFin demo accounts), a multi-asset prop platform with crypto CFDs or perpetuals (DXtrade, Volumetrica's DeepchartFx, Match-Trader), or an exchange's own prop arm,…
- [Forex Payment Gateways for Prop Firms (2026)](https://pipvalley.com/guides/forex-payment-gateway-for-prop-firms): A forex payment gateway for a prop firm is the checkout layer that sends a trader's card or alternative payment to an acquirer willing to underwrite trading-adjacent businesses. Mainstream processors often refuse: Stripe lists "funded prop trading" as prohibited. Most firms therefore use a high-risk merchant…
- [Crypto Payments for Prop Firms: An Operator's Guide](https://pipvalley.com/guides/prop-firm-crypto-payments): Prop firms accept crypto through crypto payment processors that let traders pay from wallets or exchanges, usually in stablecoins, and settle to the firm in crypto or fiat. Crypto is the second payment rail for most firms because card acceptance is fragile. Finance Magnates counted $115.1 million in on-chain payouts…
- [Prop Firm Payout Providers: How Firms Pay Traders](https://pipvalley.com/guides/prop-firm-payout-providers): Prop firms pay traders through payout providers that handle cross-border transfers: contractor-payment platforms such as Rise, crypto payouts in stablecoins, bank transfers and e-wallets. Most firms offer two or three of these, run KYC before the first payout, and approve each request against their rules in the back…
- [KYC and AML Software for Prop Firms (2026)](https://pipvalley.com/guides/kyc-aml-software-for-prop-firms): KYC and AML software verifies a trader's identity and screens them against sanctions and politically exposed person lists. Prop firms usually run it before the first payout, through providers such as Sumsub, Veriff or Onfido integrated with the back office. As published in October 2026, Veriff starts from $0.80 per…
- [Prop Firm Terms and Conditions: What to Include](https://pipvalley.com/guides/prop-firm-terms-and-conditions): Prop firm terms and conditions usually cover what the trader is buying (a simulated evaluation), the rules and how breaches are decided, payout eligibility and denial grounds, KYC, restricted countries, refunds, prohibited strategies, changes to the terms, liability and governing law. This guide is a checklist for…
- [Restricted Countries: How Prop Firms Decide](https://pipvalley.com/guides/prop-firm-sanctions-and-restricted-countries): Prop firms decide which countries to restrict by combining four sources: sanctions programs such as OFAC's, UK and EU lists; FATF's high-risk jurisdictions; the country exclusions of their payment, KYC and platform providers; and legal advice on local rules for trading-related products. The list should live in one…
- [Prop Firm Risk Management: A-Book and B-Book for Owners](https://pipvalley.com/guides/prop-firm-risk-management): Prop firm risk management is the owner's job of making sure payouts never outrun revenue and reserves. Most evaluation trades are B-book: simulated and kept internal, with payouts funded from fee revenue. Some firms A-book or hedge their most consistent funded traders through a liquidity provider. The core controls…
- [Liquidity Providers for Prop Firms: When You Need One](https://pipvalley.com/guides/liquidity-providers-for-prop-firms): A forex liquidity provider is a bank, prime broker or non-bank market maker that streams prices and fills orders. A prop firm needs one in two places: the price feed behind its simulated accounts, and live execution if it A-books selected traders. Most new firms get both through their platform or technology vendor…
- [Prop Trading SEO: How Prop Firms Rank in 2026](https://pipvalley.com/guides/prop-trading-seo): Prop trading SEO is earning search and AI-assistant traffic for a prop firm without paid ads, which Google and Meta restrict for leveraged trading products. It works by publishing one clear page per question traders ask (every rule, payout terms, platforms, comparisons), keeping the site fast and crawlable, and…
- [Prop Firm Affiliate Software: Cellxpert, Track360 and More](https://pipvalley.com/guides/prop-firm-affiliate-software): Forex affiliate software tracks which partner referred each sale, applies commission rules and pays partners. Prop firms use three kinds: platforms built for trading and iGaming such as Cellxpert and Track360, general SaaS tools such as FirstPromoter or LeadDyno, and the affiliate module in their back office. The…
- [Prop Firm Discord and Community: An Operator's Guide](https://pipvalley.com/guides/prop-firm-discord-community): A prop firm Discord is the firm's community and support space: announcements, rule and payout questions, trader chat and sometimes education. Run well, it cuts support load and builds trust; run badly, it becomes a public complaints board and a target for scammers impersonating staff. The essentials are a clear…
- [Trustpilot for Prop Firms: Review Rules for Operators](https://pipvalley.com/guides/prop-firm-trustpilot-reviews): Prop firms should treat Trustpilot as a public audit, not a marketing tool. Trustpilot's business guidelines (version 7.3, September 2026) require inviting customers "consistently and fairly", ban incentives and selective invitations, and allow consumer warnings or suspension for breaches. Several prop firms have…
- [Dubai Company Formation for a Prop Firm: Cost, Licence](https://pipvalley.com/guides/dubai-company-formation-for-prop-firms): To start a prop firm in Dubai, most founders form a free zone company: published packages start at AED 12,500 at Meydan Free Zone and AED 35,000–50,000 for a first year at DMCC, with licences issued in hours to weeks. We found no UAE regulator statement on simulated prop firms as of October 2026; brokers need a CMA…
- [Start a Prop Firm in Estonia: OÜ, e-Residency, Tax](https://pipvalley.com/guides/start-a-prop-firm-in-estonia): You can register an Estonian private limited company (OÜ) for a prop firm for a €265 state fee online, with no minimum share capital, often within one business day; non-residents usually need e-Residency (€150) and an Estonian contact person. Retained profit is untaxed and distributions are taxed at 22/78.…
- [Start a Prop Firm in Malta: Company, Licence, Tax](https://pipvalley.com/guides/start-a-prop-firm-in-malta): A Maltese private company for a prop firm costs €100 to register with the Malta Business Registry when authorised capital is up to €1,500, needs at least €1,164.69 of capital with 20% paid up, and can be incorporated within 24 hours of a complete filing. We found no MFSA statement on prop firms as of October 2026; a…
- [How to Start a Forex Brokerage (2026 Guide)](https://pipvalley.com/guides/how-to-start-a-forex-brokerage): To start a forex brokerage, choose your execution model, get licensed in a jurisdiction that fits your target clients, fund the regulatory capital, then add a trading platform, liquidity, a CRM, payment providers and a compliant website. Capital alone ranges from EUR 75,000 to EUR 750,000 at CySEC by service type.…
- [Forex Broker License: Regulators and Capital (2026)](https://pipvalley.com/guides/forex-broker-license): A forex broker license is authorisation from a financial regulator to offer currency and CFD trading to clients. Tier-one regulators such as the FCA and ASIC set the highest bars; the FCA's minimum capital is up to the equivalent of 750,000 sterling for dealing on own account. CySEC sits at EUR 75,000–750,000.…
- [White Label Forex Brokerage: How It Works (2026)](https://pipvalley.com/guides/white-label-forex-broker): A white label forex broker runs its own brand on a trading platform, servers and often liquidity rented from a provider that holds the platform licence. You set your own spreads, onboarding and marketing, but you still need your own regulatory licence, banking and compliance in most markets. B2Broker estimates an…
- [Forex Broker CRM: Features and Prices (2026)](https://pipvalley.com/guides/forex-broker-crm): A forex broker CRM is the back office and client portal that handles onboarding, KYC, deposits and withdrawals, trading accounts, IB commissions and reporting. Published prices start around $1,000 a month: B2CORE lists $1,000 to $20,000 a month plus a 1.00% to 0.10% fee on deposits, with free setup. An aggregator…
- [Forex Broker Marketing Plan: Channels and Rules](https://pipvalley.com/guides/forex-broker-marketing-plan): A forex broker marketing plan usually rests on three channels: introducing brokers and affiliates, search and content, and paid media where it is allowed. Paid media is tightly restricted: Google only certifies CFD and rolling spot forex advertisers licensed in each country they target, Meta requires FCA…
- [Forex SEO: A Guide for Brokers and Prop Firms](https://pipvalley.com/guides/forex-seo): Forex SEO is search optimisation for brokers, prop firms and other trading businesses. Because trading is a "your money or your life" topic, Google holds it to a high standard of trust, so it rests on a fast, crawlable site, clear entity and licence details, accurate sourced content written by people with expertise,…
- [How to Start a Crypto Exchange (2026 Guide)](https://pipvalley.com/guides/how-to-start-a-crypto-exchange): To start a crypto exchange, choose the model (brokerage, order-book exchange or OTC desk), get licensed where your users are, then add exchange technology, liquidity, custody, KYC and a website. In the EU, MiCA requires CASP authorisation, with EUR 150,000 minimum capital for a trading platform. In the US, exchanges…
- [White Label Crypto Exchange: Cost and Licensing](https://pipvalley.com/guides/white-label-crypto-exchange): A white label crypto exchange is ready-made exchange software (matching engine, wallets, admin panel and front end) that you brand and run as your own. Vendor estimates vary widely: B2Broker puts setup at $8,000 to $250,000+ and ongoing costs at $5,000 to $50,000 a month (April 2026); Shift Markets puts setup at…
- [How to Start a Hedge Fund: Structure, SEC, Costs](https://pipvalley.com/guides/how-to-start-a-hedge-fund): To start a hedge fund in the US, form a management company and a fund (usually a limited partnership with a related general partner), hire a fund lawyer, administrator, auditor and prime broker, register the adviser with your state or the SEC (or report as an exempt adviser), and raise money privately under…
- [How Much Does It Cost to Start a Hedge Fund?](https://pipvalley.com/guides/how-much-does-it-cost-to-start-a-hedge-fund): Starting a small US hedge fund costs roughly US$100,000 at the lean end, according to a March 2026 AIMA article, and published service-provider estimates put investor-ready launches at US$150,000–300,000. The big lines are legal formation (about $15,000–$75,000 for a simple fund, $100,000+ for master-feeder),…
- [How to Start Your Own Trading Firm: 4 Routes](https://pipvalley.com/guides/how-to-start-a-trading-firm): To start your own trading firm, first decide whose money is at risk. Trading only your own capital through a company is the lightest route; selling simulated evaluations makes you an evaluation prop firm; trading other people's money makes you a fund or adviser with registration duties; and taking client orders…
- [Hedge Fund Website: What the SEC Lets You Say](https://pipvalley.com/guides/hedge-fund-website): A hedge fund website can always describe the firm, its people and its approach, but under Rule 506(b) an unrestricted public page that offers the fund is general solicitation, so performance and offering details belong behind a gate for investors you already know. Under Rule 506(c) you may advertise if every…
- [How to Start a Trading Academy or Forex Course](https://pipvalley.com/guides/how-to-start-a-trading-academy): To start a trading academy, pick one market and one learner, build a curriculum that teaches process rather than promising returns, host it on a course platform or your own site, and set compliance rules on day one: no income claims you can't prove as typical, no personalised trade calls without checking…
- [How to Start a Trading Discord: Billing and Rules](https://pipvalley.com/guides/how-to-start-a-trading-discord): To start a paid trading Discord, set up a server with clear rules and roles, connect billing (Discord's own subscriptions pay creators 90% after fees; Whop and LaunchPass gate roles for a percentage plus card fees), and decide early whether you share education or trade signals. Signals tailored to members can count…
- [Financial Services Website Design: A Checklist](https://pipvalley.com/guides/financial-services-website-design): Good financial services website design starts with what regulators and search engines check: fair, balanced promotions with the right risk warnings, clear entity and licence details, accessibility to WCAG 2.2 (now required for consumer banking in the EU), fast pages (LCP under 2.5 seconds, INP under 200…
- [Fintech SEO: YMYL, E-E-A-T and AI Search](https://pipvalley.com/guides/fintech-seo): Fintech SEO is search optimisation for financial products, where Google treats most pages as "Your Money or Your Life" and weighs trust most heavily. It works when every page shows who wrote it, cites sources, passes compliance review and answers a real question. Programmatic and comparison pages help if each one…
- [Forex License Cost by Jurisdiction: 2026 Comparison](https://pipvalley.com/guides/forex-license-cost): A forex licence costs anything from a few thousand dollars in fees offshore to six figures of locked capital onshore. Seychelles lists a US$1,500 application fee and reported US$100,000 capital; Vanuatu wants a VT 5 million deposit; CySEC requires EUR 75,000–750,000 by activity, and the FCA similar sums in UK…
- [Forex Broker License for Sale: Buying a Licensed Firm](https://pipvalley.com/guides/forex-broker-license-for-sale): You cannot buy a forex licence on its own; you buy the company that holds it, and the regulator must approve you as the new owner first. The FCA allows itself up to 60 working days from a complete notification, and MiFID II gives EU regulators the same 60-working-day assessment period. Acting without approval is a…
- [How Do Forex Brokers Make Money? Spreads, Swaps, B-Book](https://pipvalley.com/guides/how-do-forex-brokers-make-money): Forex brokers make money from spreads and commissions on every trade, overnight financing charges, interest on balances and, when they take the other side of client trades, from client losses. Plus500's 2025 results show the mix: USD 739.4 million of customer income from spreads and overnight charges, while…
- [How DXtrade Integrates With Prop Firm Risk Rules](https://pipvalley.com/guides/dxtrade-prop-firm-risk-rules): DXtrade enforces most prop firm risk rules inside the platform: Devexperts lists real-time trailing, end-of-day trailing and static max drawdown, max daily loss, profit targets, position limits and automatic liquidation, with end-of-session closing for futures. Rules are set per plan and breaches can move an account…
- [Prop Firm Regulation News: Dated Tracker (Oct 2026)](https://pipvalley.com/guides/prop-firm-regulation-news): As of 12 October 2026 no major regulator has issued a rulebook for evaluation prop firms. The live news is elsewhere: ASIC proposed on 12 October extending its CFD product intervention order to 2037; cTrader stopped onboarding US traders through prop firms on 1 July; US firms are registering introducing brokers; and…
- [Are Prop Firms Legit? What Makes One Credible](https://pipvalley.com/guides/are-prop-firms-legit): Many prop firms are legitimate businesses: they sell a simulated evaluation and pay rewards to traders who pass under published rules. Trust is earned, not assumed. Finance Magnates estimated 80–100 firms shut in 2024, and FPFX data on 300,000 accounts showed about 7% of traders were profitable. Credible firms…
- [How to Start a Brokerage Firm: US Broker-Dealer Steps](https://pipvalley.com/guides/how-to-start-a-brokerage-firm): To start a US brokerage firm you form a company, register with the SEC on Form BD, join FINRA through a New Membership Application that FINRA must process within 180 days, join SIPC, register in each state, and staff qualified principals. Net capital minimums run from USD 5,000 for firms that never touch customer…
- [How to Become an Introducing Broker (Futures and Forex)](https://pipvalley.com/guides/how-to-become-an-introducing-broker): To become a US futures introducing broker you register with the CFTC through the NFA on Form 7-R, pay a USD 200 application fee and USD 750 a year in dues, pass the Series 3, and either hold USD 45,000 adjusted net capital or sign a guarantee agreement with a futures commission merchant. Forex IBs need the Series 34…
- [How to Start a Trading Company: Entity, Tax, Licences](https://pipvalley.com/guides/how-to-start-a-trading-company): To start a trading company, decide what it will do first (trade its own money, sell evaluations, manage others' money or broker), then form the entity that fits: a Delaware LLC costs USD 110 to form and USD 400 a year; a UK company costs 100 pounds online. Trading only your own capital usually needs no licence. In…
- [Regulated Prop Firms: What the Label Means (2026)](https://pipvalley.com/guides/regulated-prop-firms): No prop firm is regulated as a prop firm, because no major regulator licenses simulated evaluations as of October 2026. "Regulated" prop groups own or run a separate licensed business: FTMO bought OANDA (approved by five regulators, Dec 2025), Topstep runs an introducing broker, and several groups hold Mauritius…
- [ADGM FSRA Forex Licence: Capital, Fees, Requirements](https://pipvalley.com/guides/adgm-fsra-forex-license): An ADGM forex or CFD broker needs an FSRA Financial Services Permission. Dealing as principal is Category 2 with USD 2 million base capital; matched-principal or agency brokers are Category 3A at USD 500,000, or USD 2 million if they deal in OTC derivatives with retail clients. FSRA fees run USD 25,000–40,000 per…
- [European Forex Licence: MiFID II, Capital and Passporting](https://pipvalley.com/guides/european-forex-license): A European forex licence is a MiFID II investment firm authorisation from one EU regulator, such as CySEC, which can then be passported across the EU. Initial capital is EUR 75,000, 150,000 or 750,000 by activity, with EUR 750,000 for dealing on own account. CySEC charges EUR 7,000 to apply. Retail CFD leverage is…
- [How to Start a Prop Firm in 2026: An Operator's Guide](https://pipvalley.com/guides/how-to-start-a-prop-firm): To start a prop firm in 2026, form a company, pick a market (forex/CFD, futures or crypto), choose a white label or licensed platform, write challenge rules and prices, set up high-risk payments and KYC, decide who funds payouts, get your terms reviewed by a lawyer, and launch a website that discloses simulated…
- [White Label Prop Firm: How It Works and What It Costs (2026)](https://pipvalley.com/guides/white-label-prop-firm): A white-label prop firm runs on another company's technology under your brand: their challenge engine, dashboard and platform access, your name, prices and rules. As of October 2026, providers charge in four ways: fixed monthly fees from about $2,500, per-active-account plans, setup plus profit share, or enterprise…
- [Prop Firm Startup Costs (2026): A Line-by-Line Budget](https://pipvalley.com/guides/cost-to-start-a-prop-firm): Starting a prop firm in 2026 costs from roughly $10,000 for a lean white-label launch to $200,000 or more for a licensed or custom stack, before any payout reserve you fund yourself. Spotware puts a typical budget at $50,000–$200,000. The gap comes down to two choices: who carries payout risk, and whether you rent…