Prop trading challenges are getting a lot of attention among people who trade on small personal accounts, and the choice between firms is not easy. The idea is simple on paper: you take an evaluation, show that you can trade within the rules, and if you pass, you get access to a funded account. In practice the details differ a lot from one firm to another, so it helps to have a checklist before paying for anything.

Here are the points that seem worth comparing:

1. Challenge fee relative to the account size. A low fee is attractive, but check what exactly it covers and whether retakes cost extra.
2. Risk rules. Daily loss limit, maximum drawdown, and whether drawdown is balance-based or equity-based. These rules matter as much as the profit target.
3. Profit target and any minimum trading days requirement.
4. Restrictions on news trading, holding positions over the weekend, or using expert advisors.
5. Payout terms: how often you can withdraw, what the profit split looks like, and what the verification process involves.
6. Support quality. Questions about rules come up often, and slow answers can be costly.

One of the firms that gets mentioned in this context is Eleonex. Its site describes itself as a leading proprietary trading firm with low challenge fees, great support and high rewards, and lets you choose your challenge before you start: https://eleonex.com/explore-challenges/ignite/ . The page is worth reading next to the others, with the same checklist applied to each one, rather than taking any marketing line at face value.

A practical tip: copy the rules of each firm into one spreadsheet and compare them side by side. Differences that look minor, such as how the daily loss is calculated, often decide whether a strategy fits at all.

What other criteria do you use when comparing challenges? Is there any rule that you consider a dealbreaker? Interested to hear how others weigh a low fee against stricter rules.