How Long Does It Take to Get Funded by a Prop Firm? (With Real Stories, Screenshots, and Tangled Truths)
Summary: Wondering how long it actually takes to go from applying to getting funded at a prop trading firm? Here you’ll get a no-nonsense, detail-filled walk-through—including timelines, what’s really happening behind the scenes, genuine forum comments, and even a side-eye at some industry myths. If you’re tired of vague promises and want the truth (plus a few mistakes and success stories), this is for you.
What Problem Are We Solving? (And Why It Matters)
If you’re even thinking about joining a proprietary trading (prop) firm, you’ve probably seen a million ads: “Get $100k capital in 3 days!” or “Pass our challenge and get funded instantly!” But is that real? Or just marketing hype? The real question is: how long does it actually take to get funded by a reputable prop trading company—from application to your first funded account?
Here’s what I found, with data, screenshots, and a bit of my own trial-and-error.
Step-by-Step: The Actual Funding Timeline at Prop Firms
Step 1: Application (Aka The Easy Part…)
Most prop firms make it dead simple to apply. Usually, you fill in an online form, upload a photo ID, and set up your trading platform. For example, when I tried FTMO and MyForexFunds (before their 2023 regulatory mess), the application itself took less than 15 minutes. See below:
This part is fast. But, as many on ForexFactory and Reddit will tell you, the real time-consuming bit comes next.
Step 2: The Evaluation/Challenge Phase (Where Most People Stumble)
Most reputable prop firms (think FTMO, Topstep, The5ers, SurgeTrader) require you to pass a trading challenge. There are usually two stages:
- Phase 1: Achieve a profit target (e.g., 10%) in a set number of trading days (often 10-30 days), without breaking drawdown rules.
- Phase 2: A lower profit target (usually 5%), with similar rules, over another 10-30 days.
Here’s a screenshot from FTMO’s own challenge rules page:
In practice, this is where timelines really stretch. Even if you trade every day, you can’t always control the market. I tried to rush through my first challenge and hit the daily loss limit on Day 7—instant fail. Had to start over. According to Trading Schools, less than 15% pass on their first try.
Average duration for this phase (if you pass): 20-45 days. Some, like SurgeTrader, offer one-phase challenges, but most are two-stage.
Step 3: Review and Verification (The Paperwork Shuffle)
Once you pass, you submit your results and documents for verification. This is where reality can bite. Sometimes it’s super quick (24-48 hours), but I’ve had cases where I waited nearly a week—especially if the firm’s reviewing lots of accounts or requests extra identity proof.
On FTMO’s official FAQ: “Verification can take up to 2-3 business days.” (Source)
But actual user reports (see ForexFactory) suggest it can be slower during busy periods or if your account activity triggers extra scrutiny.
Step 4: Receiving Your Funded Account (The “Finally!” Moment)
Once you’re verified, most firms issue your funded account within 1-3 business days. You’ll get a login, trading credentials, and (sometimes) onboarding instructions. My experience: Topstep funded me in 36 hours; FTMO took 48 hours after verification. But I’ve seen posts on Reddit where people waited up to a week due to “technical issues.”
User “joshtrades” on Reddit wrote: “FTMO approved my docs in 2 days, but I didn’t get my funded account until 4 days later. Support said they were overloaded.”
Step 5: First Withdrawal (Optional But Tells You A Lot)
This isn’t required for getting funded, but the real proof is in the first payout. Some firms require you to wait 30 days before your first withdrawal; others allow instant payouts. FTMO’s latest policy as of 2024 is flexible, but Topstep still requires a “Trade for 5 days” rule (source).
The Real Average Timeline (With Data and a Cautionary Table)
Based on my own experience, industry surveys (see Trading Schools), and user reports:
- Application: 0-1 days
- Challenge (Phase 1 + 2): 20-45 days (if you succeed on the first try)
- Verification: 2-5 days
- Funded Account Issued: 1-3 days
Total (best case): 25-50 days from application to being funded.
Total (more realistic): 1-3 months (most people fail at least once before passing).
Prop Firm Funding Timeline Comparison Table
| Firm Name | Challenge Duration | Verification Time | Funded Account Issued | Withdrawal Rules | Regulatory Oversight |
|---|---|---|---|---|---|
| FTMO | 30 days (Phase 1), 60 days (Phase 2) | 2-5 days | 1-3 days | Flexible, typically after 14 days | Unregulated, based in Czech Republic |
| Topstep | No set time (performance-based) | 1-3 days | 1-2 days | After 5 trading days | CFTC/NFA (US Futures) |
| SurgeTrader | 30 days (one phase) | 1-2 days | 1 day | After 2 weeks | Unregulated, US-based |
For more on prop firm oversight, see the CFTC’s official guidance on proprietary trading regulation.
What About “Verified Trade” Standards? (And Why the US and EU Don’t Agree)
There’s no global standard for “verified trading” across prop firms. In the US, futures firms like Topstep are subject to CFTC/NFA rules, meaning more oversight and (in theory) stronger trader protection. In Europe, most forex prop firms operate under local business laws—so no real regulatory safety net.
| Country/Region | Verification Standard | Legal Basis | Enforcement Body |
|---|---|---|---|
| United States | CFTC/NFA rules for futures prop trading | Commodity Exchange Act | CFTC, NFA |
| European Union | Local business law, no financial regulation for “demo” prop firms | Varies (e.g., Czech Trade Laws for FTMO) | National trade offices |
| UK | FCA-regulated only for “real money” trading; most prop firms unregulated | Financial Services and Markets Act | FCA |
For more detail, check the CFTC’s industry filings and the FCA’s official page on proprietary trading.
Case Study: A US vs. EU Prop Trading Dispute
Let’s get concrete. Imagine a US-based trader, Mike, passes a challenge at a European prop firm (like FTMO) and then tries to withdraw funds. Mike complains on Reddit that his withdrawal is delayed “pending compliance checks.” FTMO, citing Czech law, asks for extra proof of residence. Mike is frustrated, but as an EU-based firm, FTMO isn’t subject to US CFTC rules. There’s no US government agency to escalate the dispute. This is a real risk, and it’s why some traders prefer US-regulated prop firms, even if they’re harder to pass.
Expert Insight: What the Pros Say
In a 2023 interview, prop trading veteran John F. (who’s worked for both US and EU firms) told me: “The biggest difference is the recourse. In the US, if a prop firm cheats you, you can go to the NFA or CFTC. In Europe, you’re basically on your own unless it’s outright fraud.”
He also pointed out that most delays in funding are due to compliance backlogs, not technical issues. “When a firm is growing fast, their back office can’t keep up. I’ve seen cases where payout requests pile up for weeks.”
Personal Take: What Actually Happened When I Tried It
So, what about my own experience? The first time I tried an FTMO challenge, I was so eager to get funded that I ignored the daily loss rule—blew up on Day 5, had to start over. Second time, I passed both phases in 29 days, but my verification took longer than I expected—FTMO asked for a new utility bill because my old one was blurry. The funded account was issued 2 days later, and my first payout (after 16 days of trading) hit my Wise account in 24 hours. Not instant, but not terrible.
On the other hand, a friend of mine tried a less reputable firm and waited three weeks for a funded account, and never got his first payout. Turns out the company was under investigation by CySEC (see CySEC warnings).
Lesson learned: Always check official regulatory warnings before you trust a new prop firm.
Conclusion: How Long Will It Take You to Get Funded?
Here’s the honest answer: If you’re skilled and disciplined enough to pass on your first try, you can get funded in about 1 month at a reputable prop firm. But most people need two or three attempts, so 2-3 months is more realistic. The real wildcards are compliance checks and withdrawal policies—especially at unregulated firms.
My advice: Don’t believe the “instant funding” hype. Do your due diligence, check regulatory filings, and expect some paperwork headaches. If you want the safest route (and are trading futures), stick with a CFTC/NFA-regulated firm. For forex, pick the most transparent prop firm you can find, and always have a backup plan in case something goes wrong.
Next steps: Research your chosen firm, read recent user reviews, and start your challenge only when you’re confident in your trading plan. If you hit a snag, don’t be afraid to ask for help on forums or from the firm’s support team. And remember—getting funded is just the start!