Key takeaways
We checked 19 prop firm products from 18 firms on October 3, 2026 for Australian traders and ranked the 17 an Australian can buy by cost per $1,000 of loss room at $50K: list price plus any activation fee, divided by the overall loss limit in dollars.
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We checked 19 prop firm products from 18 firms on October 3, 2026 for Australian traders and ranked the 17 an Australian can buy by cost per $1,000 of loss room at $50K: list price plus any activation fee, divided by the overall loss limit in dollars. Topstep is cheapest at $47.50 ($95 a month, $2,000 end-of-day floor), then E8 Markets E8 Pro 10% at $49.80 ($249, $5,000 static), Alpha Capital Group Alpha Pro 10% at $53.40, FundedNext Stellar Lite at $57.50 and Goat Funded Trader 2 Step GOAT at $61.60. Alpha Capital Group names Australia at checkout, and FTMO runs a separate Australian site whose operator, VRGK Tech Pty Ltd, appears in ASIC’s licensee dataset under AFS licence 525757. ThinkCapital is the one firm that excludes Australia, and Apex Trader Funding is listed separately with a serious warning because its own footer and terms say it is for US users. No firm prices or pays in Australian dollars; A$ figures use the October 2, 2026 rate of 1.4411.
Checked: October 3, 2026. Firms change prices, codes and country lists without notice, so confirm on the firm’s own page before paying. Each Trustpilot figure shows its own read date.
Editorial disclosure. BestProps has no affiliate or sponsor relationship with any firm in this guide and has received no money from any of them. Codes shown are published by the firms and are uncompensated. No firm reviewed this guide before publication. Full policy: affiliate disclosure.
Quick answer and the top five prop firms for Australian traders
Most prop firms let Australians buy, pass and get paid. Of the 18 firms checked, 16 leave Australia off their restricted lists or name it as served, Apex Trader Funding’s own pages conflict on whether it serves Australians, and one, ThinkCapital, excludes it. Ranked on what you pay for each $1,000 the account can lose, these five come first:
- Topstep Trading Combine, No Activation Fee: $47.50 per $1,000 ($95/month (A$136.90), $2,000, end-of-day trailing).
- E8 Markets E8 Pro 10% (forex and crypto): $49.80 per $1,000 ($249 (A$358.83), $5,000, static).
- Alpha Capital Group Alpha Pro 10%: $53.40 per $1,000 ($267 (A$384.77), $5,000, static).
- FundedNext Stellar Lite: $57.50 per $1,000 ($229.99 (A$331.44), $4,000, static).
- Goat Funded Trader 2 Step GOAT: $61.60 per $1,000 ($308 (A$443.86), $5,000, static).
Alpha Capital Group is the safest country match on paper because it names Australia, and FTMO is the only firm with a local Australian company behind its site.
Can Australians use prop firms
Yes. A prop firm sells you an evaluation on a simulated account; pass it and the firm pays you a share of simulated profit. Nothing in Australian law stops you buying one, and the real questions are practical: does the firm accept Australian residents, can its payout reach your bank, and what does a failed attempt cost.
Firms answer the first question in different ways. Alpha Capital Group names Australia at checkout, and FTMO runs a separate Australian site. The rest publish a list of countries they will not serve and leave Australia off it. The test also differs: E8 Markets goes by the country on your ID document, TradeDay looks at citizenship, residence and where you mainly trade from, and Goat Funded Trader looks at where you are located. A list that says “including but not limited to,” as The5ers’ does, leaves the firm room to refuse anyone.
Three of the pages that rank for this search are written by prop firms about themselves: Goat Funded Trader and HyroTrader each rank themselves first in their own Australia articles, and Phidias publishes its own piece on whether prop firms are legal in Australia. Read those as marketing. The checks below come from each firm’s own terms, country lists and checkout pages.
ASIC and prop firms in Australia
ASIC, the Australian Securities and Investments Commission, does two things that matter here. It issues Australian Financial Services licences to businesses that deal in financial products, derivatives included, with Australian clients. And since March 29, 2021 it has run a product intervention order on contracts for difference (ASIC Corporations Instrument 2020/986, extended to May 23, 2027) that caps retail leverage at 30:1 on major currency pairs, 20:1 on minor pairs, gold and major indices, 10:1 on other commodities and minor indices, 5:1 on shares and 2:1 on crypto, requires negative balance protection and bans trading inducements.
That order binds licensed firms issuing CFDs to retail clients. A prop firm evaluation is usually a demo account with simulated money, sold by a company outside Australia, so the order and the licence regime do not describe it. When a prop firm offers more leverage than those caps, it is not breaking the order; it is selling a different product. The flip side is that you get none of the protections a licensed broker owes a retail client.
Most firms here say outright that they are not regulated: E8 Markets’ terms say it is not “a broker-dealer, investment advisor, or regulated financial entity under any jurisdiction,” and The5ers says it is “not a financial institute.” FTMO is the exception. Its Australian site is run by VRGK Tech Pty Ltd, and ASIC’s own licensee dataset lists that company under AFS licence 525757, held since January 24, 2023 and covering derivatives and foreign exchange contracts for retail and wholesale clients. The FTMO Challenge is still a demo with fictitious funds. For which prop firms hold any licence anywhere, see our guide to regulated prop firms.
How prop firm payouts reach an Australian bank
No firm checked pays in Australian dollars. Payouts leave in US dollars, euros or crypto, and the conversion happens at your bank, at Wise or on a crypto exchange, at their rate. Rise is the most common route; it does not list Australia among its restricted countries. Bank wires reach Australian banks but can carry a firm fee (Topstep $30, TradeDay $15 through Rise) and intermediary charges. HyroTrader pays only in USDT or USDC.
| Payout method | Firms that offer it | Pays in | Found for Australia |
|---|---|---|---|
| Rise (Riseworks) | E8 Markets, Alpha Capital Group, FundedNext, Goat Funded Trader | USD or crypto | Australia is absent from Rise’s restricted table |
| Rise (Riseworks) | The5ers, FXIFY, Funded Trading Plus, TradeDay, Tradeify | USD or crypto | Same Rise route; FXIFY and Tradeify offer nothing else |
| Rise (Riseworks) | My Funded Futures | USD or crypto | Bank side has no published country list |
| Bank wire or SWIFT | Topstep, Alpha Capital Group, FundedNext, FTMO | USD or EUR | Reaches Australian banks; your bank converts |
| Bank wire or account | Bulenox, City Traders Imperium | USD or not stated | No Australia-specific terms published |
| Crypto (USDT or USDC) | HyroTrader (its only route), FundedNext, The5ers, FTMO | Crypto | No country limit published on the crypto side |
| Crypto (USDT or USDC) | Goat Funded Trader, Funded Trading Plus, City Traders Imperium | Crypto | You convert to AUD on an exchange |
| PayPal, Wise or Skrill | Take Profit Trader, Bulenox, Alpha Capital Group, FTMO | USD or EUR | Wise can convert to AUD at its own rate |
| Skrill | Goat Funded Trader | USD | 3% processing fee on every reward |
| Plane | Apex Trader Funding | USD | Apex’s route for anyone outside the United States |
How we checked prop firms for Australia
- Read each firm’s own restricted countries page, terms, help article or checkout for Australia, product by product.
- Treat forex, futures and crypto arms of one brand as separate listings.
- Price every $50K variant at list price and add any activation fee; codes go in the firm notes only.
- Divide by the smallest overall loss limit in dollars at any stage, never a daily limit, and multiply by 1,000.
- Note the payout routes that reach Australia, the currency they pay in, the live stage terms and Trustpilot.
Related read: prop firms available in Australia.
Prop firms in Australia ranked by cost per $1,000 of loss room
Lower is better. A $2,000 floor at $95 and a $5,000 floor at $249 both cost about $48 to $50 for each $1,000 you are allowed to lose, which is the comparison that matters if you plan to buy more than once.
| Rank, firm and product | Australia status | Price at $50K | Max-loss floor | Cost per $1,000 | Payout methods | Live stage |
|---|---|---|---|---|---|---|
| 1. Topstep Trading Combine, No Activation Fee | Not on either of its two country tables | $95/month (A$136.90) | $2,000, end-of-day trailing | $47.50a | International wire only (USD, $30 fee) | Discretionary Live move; cannot decline |
| 2. E8 Markets E8 Pro 10% (forex and crypto) | Not on its restricted list (ID country) | $249 (A$358.83) | $5,000, static | $49.80b | Rise reaches Australia (USD or crypto) | No live stage; all accounts are demo |
| 3. Alpha Capital Group Alpha Pro 10% | Named in its checkout country list | $267 (A$384.77) | $5,000, static | $53.40 | Rise, Wise or bank wire (USD) | Discretionary Alpha Prime move; can decline |
| 4. FundedNext Stellar Lite | Not on its residents and citizens list | $229.99 (A$331.44) | $4,000, static | $57.50c | Rise, bank wire, USDT or USDC (USD) | No call-up on this CFD line |
| 5. Goat Funded Trader 2 Step GOAT | Not on its 33-country restricted list | $308 (A$443.86) | $5,000, static | $61.60 | Rise, Skrill or crypto (USD, 3% fee) | No call-up; accounts stay simulated |
| 6. The5ers High Stakes 2-Step | Not on its open-ended territory list | $249 (A$358.83) | $4,000, static (the FAQ says $5,000) | $62.25d | Rise, bank transfer or crypto (3.5% fee) | No call-up; optional capital offer |
| 7. Bulenox Momentum Qualification | Not on its FAQ restricted list | $143 (A$206.08) | $2,250, end-of-day trailing | $63.56 | ACH or wire, or PayPal (USD) | Discretionary after 3 payouts; decline closes |
| 8. TradeDay Quick Pay Intraday | Not on its prohibited countries list | $131/month (A$188.78) | $2,000, intraday trailing | $65.50a | Rise wire ($15) or crypto (USD) | Live review at $10,000 profit; cannot decline |
| 9. City Traders Imperium 2-Step Challenge | Not on its terms, help or footer lists | $329 (A$474.12) | $5,000, fixed, counts open losses | $65.80 | Bank account or crypto wallet | Discretionary broker invite |
| 10. FTMO 1-Step Challenge | Named: runs a separate Australia site | €319, about $358.08 (A$516.03) | $5,000, end-of-day trailing | $71.62e | Wire, card, Skrill or crypto (EUR or USD) | No live stage; fully simulated |
| 11. Tradeify Growth | Not on its 58-country restricted list | $145 (A$208.96) | $2,000, end-of-day trailing | $72.50 | Rise only (USD or crypto) | Discretionary Elite Live move |
| 12. FXIFY Two Phase Classic | Not on its FAQ or footer lists | $379 (A$546.18) | $5,000, static | $75.80 | Rise only (USD) | No discretionary call-up published |
| 12. HyroTrader Two-Step (crypto) | Not on its prohibited jurisdictions clause | $379 (A$546.18) | $5,000, static | $75.80 | USDT or USDC only | No real-capital stage; fully simulated |
| 14. My Funded Futures Builder | Not on its restricted countries policy | $153 (A$220.49) | $2,000, end-of-day trailing | $76.50 | Rise bank transfer or crypto | Live call-up; cannot refuse once selected |
| 15. Funded Trading Plus 2-Step Classic | Not on its prohibited countries list | $319 (A$459.71) | $4,000, static | $79.75g | Crypto or Rise (USD) | No live stage exists |
| 16. E8 Markets Futures E8 Signature Futures | Not on its separate futures list (ID country) | $170 (A$244.99) | $2,000, end-of-day trailing | $85.00f | Rise reaches Australia (USD or crypto) | No live stage; all accounts are demo |
| 17. Take Profit Trader Trading Test and PRO | Not on its restricted countries list | $170/month + $130 fee (A$432.33) | $2,000, intraday trailing (PRO) | $150.00a | PayPal or Wise (USD) | Discretionary PRO+ move freezes $5,000 |
Notes on this ranking: Cost per $1,000 is the list price of the firm’s cheapest $50,000 product that an Australian can buy, plus any activation fee, divided by the smallest overall loss limit in dollars at any stage, times 1,000. Daily loss limits and per-trade rules are not used. A$ figures convert at the European Central Bank reference rates of October 2, 2026 (EUR/USD 1.1225, EUR/AUD 1.6176, so USD/AUD 1.4411); no firm here charges or pays in Australian dollars. Ties share a rank. a Monthly billing: the figure covers one 30-day cycle, and every extra month adds the monthly price again (Topstep $95, TradeDay $131, Take Profit Trader $170). Two months at Topstep would cost $95.00 per $1,000, still cheaper than a second TradeDay month at $131.00. b E8 Pro 10% shows $249 on the configurator and $248 in the matching checkout summary; the table uses the higher figure. At $248 it would be $49.60, and its place does not change. c FundedNext does not name an activation fee for Stellar Lite, and it does not say there is none; its help page only rules out hidden and recurring fees. The figure is the evaluation fee alone. Every $10 of fee it might add raises the figure by $2.50, so a fee above about $16 would drop it below Goat Funded Trader. d The5ers’ High Stakes size table shows an 8% overall loss ($4,000) at $50K while its FAQ says 10% ($5,000). We rank on the tighter table figure; on the FAQ figure it would be $49.80 and share second place with E8 Markets. Its Forbidden Territory clause also lists countries “including but not limited to” the names given, so a missing name is not a written promise. e FTMO prices in euros: €319 x 1.1225 = $358.08. The 1-Step floor trails the end-of-day balance and its fee is never refunded. Tradeify is only about 1.2% dearer, so a 1.2% rise in the euro would swap them. FTMO’s 2-Step Challenge (€345, about $387.26, static floor, fee refunded with the first reward) works out at $77.45 and would sit between My Funded Futures and Funded Trading Plus. f E8 does not name a market data fee for its futures accounts; its general line is “All fees are one-time fees. There is no activation fee or subscription fee.” Confirm before buying. g Funded Trading Plus’ 2-Step Classic also has a 3% Symbol Loss Limit, a hard breach at $1,500 of loss on one symbol at $50K. It is a per-symbol rule, not the overall loss limit, so the cost uses the $4,000 static floor; read it as the first thing to plan around.
Profit splits, platforms and first payouts at prop firms for Australians
The split decides what you keep, and the first payout condition decides when you can test the payout route. Same order as the ranking.
| Firm and product | Trader’s split | First payout condition | Platforms |
|---|---|---|---|
| Topstep Trading Combine, No Activation Fee | 90% | 5 winning days of $150+, $125 minimum | TopstepX |
| E8 Markets E8 Pro 10% (forex and crypto) | 80% default, 90% or 100% options | Varies by product | MT5, cTrader, TradeLocker, Match-Trader |
| Alpha Capital Group Alpha Pro 10% | 80%, 90% with a paid add-on | 2% profit ($1,000) and a 40% best-day rule | MT5, cTrader, DXtrade, TradeLocker |
| FundedNext Stellar Lite | 80%, up to 90-95% with add-ons | 21 days after first trade, then every 14 | MT4, MT5, cTrader (+$25) |
| Goat Funded Trader 2 Step GOAT | 80%, 100% with a paid add-on | Valid days of 0.5%+ profit; early payouts capped | MT5, cTrader, TradeLocker, Match-Trader |
| The5ers High Stakes 2-Step | 80%, rising with scaling | 14 days active, $300 minimum at $50K | MT5, cTrader (+$10) |
| Bulenox Momentum Qualification | 100% of first $10,000, then 90% | 5 days of $150+, first payout capped at $1,500 | NinjaTrader, Rithmic platforms |
| TradeDay Quick Pay Intraday | 50% to $4,000 profit, then 80% | Positive balance, 1 day minimum | NinjaTrader, Rithmic, Tradovate |
| City Traders Imperium 2-Step Challenge | 80%, up to 100% with VIP levels | 7 profitable days and 2% or $100 | MT5, Match-Trader |
| FTMO 1-Step Challenge | 90% from the first reward | Day 14 after first trade, all positions closed | MT4, MT5, cTrader, TradingView |
| Tradeify Growth | 90% | 5 days over $150, 35% consistency | NinjaTrader, Rithmic, Tradovate |
| FXIFY Two Phase Classic | 80%; 100% on a 30-day cycle | 14 or 30 day payout cycle | MT5, DXtrade, TradingView |
| HyroTrader Two-Step (crypto) | 80%, up to 90% | No minimum days; once the funded account is in profit, $100 minimum | Bybit or BloFin demo, Hyro, Tealstreet, Tiger.com |
| My Funded Futures Builder | 80% | $2,100 buffer, $500 minimum, $2,000 cap | NinjaTrader, Tradovate, TradingView, others |
| Funded Trading Plus 2-Step Classic | 80%, 90% at 20% profit | Firm-wide: from day 1 in profit, $50 minimum | MT5, Match-Trader |
| E8 Markets Futures E8 Signature Futures | 80% default | Varies by product | Tradovate, NinjaTrader |
| Take Profit Trader Trading Test and PRO | 80% in PRO, 90% in PRO+ | PRO balance above $52,000 | NinjaTrader, Tradovate, TradingView, others |
How the prop firm evaluation works for an Australian trader
You pay a fee, trade a simulated account to a profit target without touching the daily or overall loss limit, and then trade a funded account that is usually still simulated. Most firms here use one or two phases; Topstep, TradeDay and Take Profit Trader bill monthly until you pass, the rest charge once. Failing costs the fee: FTMO, Apex and The5ers sell no resets on the accounts priced here, so a failed or expired attempt is bought again at list price.
Refunds are the exception. FTMO refunds the 2-Step fee with the first reward, Goat Funded Trader refunds at the fourth payout, and HyroTrader describes its fee as a deposit returned with the first funded payout. Futures firms run on US exchange hours, so an Australian on the east coast trades the US session overnight; Topstep requires positions flat by 3:10 PM Central Time and TradeDay flattens around major US news.
The trailing type matters as much as the dollar figure. A static floor stays where it starts. An end-of-day trailing floor moves up with your best closing balance. An intraday trailing floor moves with the highest point your equity touches during the day, open profit included, which is the hardest version to trade; TradeDay, Take Profit Trader and Apex’s cheapest account use it, and Funded Trading Plus’s 1-Step Express does until it locks.
Prop firms in Australia with a hidden Trustpilot rating
Five of the 18 firms checked show no star rating on Trustpilot, only the banner “This company’s rating is unavailable due to a breach of our guidelines.” Trustpilot uses it when it finds problems such as fake reviews. The five are Alpha Capital Group (21,810 reviews), E8 Markets (3,297), Goat Funded Trader (4,344), Funded Trading Plus (2,666) and ThinkCapital (611). A hidden rating does not change a firm’s rank here, and a firm’s own review badge is not a substitute for it.
Topstep is the cheapest prop firm per $1,000 of loss room for Australian futures traders
Australia sits on neither of Topstep’s two country tables, the one that limits traders to the Express Funded Account and the one that bars them entirely, so an Australian gets the whole program.
The No Activation Fee Trading Combine lists at $95 a month for $50,000 (about A$136.90). Its Maximum Loss Limit is $2,000 and trails the highest end-of-day balance, so $95 / $2,000 x 1,000 = $47.50 per $1,000 of loss room, the lowest figure in this guide. After the first payout from the Express Funded Account the limit resets to $0 permanently, so the remaining balance becomes the whole cushion.
Getting the money home is the slow part. Topstep’s only payout route open to Australia is an international wire, settled in US dollars with a $30 fee and a 5 to 10 business day wait; its faster routes are for US bank accounts. Every position must be flat by 3:10 PM Central Time, which falls in the Australian early morning.
Video: “What Is a Topstep Express Funded Account (XFA)? | Funded Trader Payouts Explained”, Topstep official YouTube channel, May 14, 2026. Why this video: Topstep’s own explainer of the Express Funded Account, the stage the $2,000 floor applies to.
- Price at $50K: $95 a month (about A$136.90); the Responsible Trading Discount lowers it to $85 a month when a daily loss limit is added at checkout, no end date shown.
- Overall loss limit: $2,000, trailing the end-of-day balance; resets to $0 after the first payout.
- Australia access: Absent from both the Express-only and the ineligible country tables in Topstep’s eligibility article.
- Live stage: Topstep’s Risk Team can move a trader to Live at any time and the trader cannot stay in the Express account instead; the Live starting balance is 20% of the Express balance, capped at the account size, with 80% held in reserve.
- Payout to Australia: International wire in USD, $30 fee, $125 minimum, 5 to 10 business days.
- Watch out for: The non-declinable Live move, then the US-dollar wire as the only route to an Australian bank.
- Best for: Australian futures day traders who want the lowest cost per $1,000 and can live with US-hours flat rules.
- Trustpilot: 3.6/5 on 14,892 reviews (read October 2, 2026). More: Topstep profile, TopstepX platform notes.
E8 Markets Pro 10% gives Australian forex traders the largest static floor for the price
E8 Markets decides country by the identity document you verify with, not where you log in from, and Australia is not on its restricted list for forex and crypto accounts.
E8 Pro with the 10% static drawdown lists at $249 for $50,000 (about A$358.83), so $249 / $5,000 x 1,000 = $49.80 per $1,000. The same account at 8% costs $228 for $4,000 of room ($57.00) and at 6% costs $218 for $3,000 ($72.67), which is why the dearest sticker is the cheapest per dollar of room here. The matching checkout summary showed $248 the same evening; the table uses $249.
Every E8 account is a demo account fed by live prices, so there is no live stage to be called up to. Daily drawdown is 2.5% ($1,250) and is a hard breach, and E8 keeps half of each payout’s profit as a buffer on Pro.
Video: “E8 One Explained: The Fastest Path to E8 Performance”, E8 Markets official YouTube channel, June 12, 2026. Why this video: E8’s own explainer of its funded path; no official E8 video covers Australia.
- Price at $50K: $249 list; $187 with code E8 on a first order, no end date shown.
- Overall loss limit: $5,000, static, the same at evaluation and funded.
- Australia access: Absent from E8’s restricted list for forex and crypto accounts; the test is the country on your ID.
- Live stage: None. E8’s help centre says all of its accounts are demo accounts running on real market data.
- Payout to Australia: Rise, which does not list Australia among its restricted countries, paying in USD or crypto.
- Watch out for: The 2.5% daily drawdown ends the account, and hedging across your own accounts is banned.
- Best for: Australian forex and crypto CFD traders who want a large static floor and no live move to worry about.
- Trustpilot: rating hidden behind Trustpilot’s “breach of our guidelines” banner, 3,297 reviews (read October 3, 2026). More: E8 Markets profile, payouts.
Alpha Capital Group names Australia outright for prop firm buyers, not just by leaving it off a list
Most firms here pass because Australia is missing from an exclusion list; Alpha Capital Group lists it by name, inside the Oceania block of its checkout country list.
Alpha Pro 10% lists at $267 for $50,000 (about A$384.77) with a $5,000 static overall loss: $267 / $5,000 x 1,000 = $53.40 per $1,000, the best of its eight $50K accounts. Alpha One 10% lists at $277, but the firm’s two figures for its loss limit conflict: its pricing data says $5,000, while its help article says 6% trailing, $3,000. On the help article’s figure Alpha One works out at $92.33 per $1,000.
Alpha says plainly that “Simulated accounts and pricing are in USD worldwide,” so there is no Australian-dollar price or payout. Its Max Risk Rule closes a funded account when an open loss on one asset reaches 2% of the balance, $1,000 at $50K, well before the $5,000 floor is touched.
Video: “Skip the Evaluation. Keep 90%. Start from Day 1.”, Alpha Capital Group official YouTube channel, July 26, 2026. Why this video: Alpha Capital Group’s own channel; no official video covers Australia.
- Price at