FTMO vs AquaFunded: Which Prop Trading Firm Is Better in 2026?

Introduction

The proprietary trading industry continues to diversify as new firms emerge with fresh takes on funding models and trader support. FTMO, operating out of Prague since 2015, has become the archetype for two‑phase evaluations and disciplined risk management. AquaFunded, launched in 2023 and headquartered in Dubai, is one of the younger competitors trying to shake up the market with charitable branding, high default profit splits and a wide range of evaluation options. Choosing between them means weighing the stability and track record of FTMO against the flexibility and philanthropy‑focused ethos of AquaFunded. Our team dug into the latest rules, payout structures and trader feedback to illuminate how these firms compare.

FTMO Overview

FTMO’s funding model centres on a two‑phase evaluation designed to test both performance and discipline. During the initial FTMO Challenge, traders must increase their account balance by 10% while adhering to a 5% daily loss limit and a 10% maximum drawdown. There is no time limit, but traders must trade on at least four separate days. Upon passing, they advance to the Verification stage where the profit target drops to 5%, while the loss parameters remain the same. After completing both stages, funded traders continue to operate under the same drawdown rules but no longer face profit targets.

FTMO’s accounts are available in a range of sizes up to $200,000. Leverage during the evaluation can reach 1:100 and decreases on the funded account to promote responsible risk management. Traders can trade a broad mix of forex pairs, commodities, indices and cryptocurrencies via MetaTrader 4 or MetaTrader 5. The firm allows overnight and weekend positions, but once funded, traders must observe a two‑minute news buffer around major economic announcements; no new positions may be opened or closed within two minutes before or after high‑impact news releases. Payouts are issued every 14 days after the funded account is activated. The standard profit split is 80/20 in favour of the trader, with a scaling plan that boosts the split to 90% once the trader generates 10% profit over four consecutive months and completes at least two withdrawals. This plan also increases the starting capital by 25% per cycle, allowing high performers to manage up to $2 million in capital through combined scaled accounts.

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AquaFunded Overview

AquaFunded is a much newer entrant to the prop‑trading scene. The company positions itself as a socially responsible prop firm, pledging a portion of its revenues to environmental and humanitarian causes. It offers a variety of evaluation models, ranging from instant funding to one‑, two‑ and three‑step challenges. All evaluations are conducted in simulated markets, and there are no time limits to complete any phase, which reduces pressure but places greater emphasis on self‑discipline.

The firm’s One‑Step Standard challenge requires traders to achieve a 9% profit target while operating within a 3% trailing daily drawdown and a 6% maximum trailing drawdown. Because the drawdown is trailing, the limit follows the account’s highest balance and locks at the starting balance once 6% profit is achieved. Traders must log a minimum of three trading days with at least one trade on each day to pass. The One‑Step Pro model lowers the profit target to 6% but increases the minimum number of trading days to five and imposes a consistency rule: no single day’s profit may represent 25% or more of total profits during a payout period. Both one‑step challenges pay out 90% of profits by default, with a paid add‑on that raises the split to 100% and allows the first withdrawal after just seven days.

AquaFunded’s Two‑Step Standard challenge mirrors more traditional prop‑firm evaluations. Phase 1 requires an 8% profit target, and Phase 2 requires 5%. The drawdown rules are static: a 5% daily loss limit and an 8% maximum total drawdown based on the initial balance. Traders must record at least five trading days in each stage before passing. The Two‑Step Pro model raises the Phase 1 target to 10% while keeping the Phase 2 target at 5%. It also employs a 10% trailing drawdown instead of a static limit and the same 5% daily loss cap. A 25% consistency rule applies in the funded phase of the Pro challenge.

For those who prefer gradual progress, AquaFunded offers a Three‑Step model. Traders must achieve a 6% profit target in each of three phases while respecting a 4% daily loss limit and an 8% static maximum drawdown. Although the additional phase means more steps to funding, the lower targets per stage can make the process psychologically easier for some. As with the two‑step models, the company requires a minimum of five trading days per phase. Across all evaluation models, traders retain 90% of profits by default, with the option to upgrade to 100% via an add‑on.

AquaFunded also markets Instant Funding accounts. These skip the evaluation entirely, allowing traders immediate access to a funded account for a fee. Standard instant accounts operate under a 3% daily drawdown and a 6% trailing drawdown, while Pro instant accounts permit up to 6% daily and 12% total trailing drawdowns. Instant accounts carry a consistency rule ranging from 15% to 40%, meaning the best trading day cannot exceed a set percentage of total profits when requesting a withdrawal.

All AquaFunded accounts—evaluations and instant—are run on MetaTrader 5. Maximum leverage during evaluations is 1:100 for forex, 1:20 for indices and commodities, and 1:2 for crypto. Upon funding, leverage typically drops to 1:50 on forex and even lower on other instruments. Traders may hold positions overnight and through weekends. Trading around high‑impact news is permitted during evaluations; once funded, traders cannot open or close trades within five minutes before or after red‑folder news or FOMC events. Profits from trades executed within this forbidden window may be removed, but the violation does not terminate the account. Expert advisor use is allowed, but high‑frequency bots, latency‑arbitrage systems and cross‑account hedging are prohibited.

Evaluation Model & Trading Rules Comparison

Stages and targets:  FTMO follows a fixed two‑stage structure: traders must hit 10% and 5% profit targets while adhering to consistent risk limits. AquaFunded offers more variety. Its one‑step models demand either 9% or 6% profit, depending on the Standard or Pro variant. The two‑step Standard challenge requires 8% and 5% targets, whereas the two‑step Pro challenge raises the first target to 10%. The three‑step model splits the process into three 6% targets. AquaFunded’s multi‑model approach allows traders to tailor the evaluation to their risk tolerance and preferred pace.

Drawdown rules:  FTMO’s loss parameters are simple and static: a 5% daily loss limit and a 10% maximum drawdown calculated from the starting balance. AquaFunded uses a mix of static and trailing drawdowns. All one‑step accounts have a 3% daily drawdown and a 6% trailing drawdown; once the account is up 6%, the trailing drawdown locks at the starting balance. Two‑step Standard accounts use static limits (5% daily, 8% total), while two‑step Pro accounts use the same 5% daily limit but a 10% trailing drawdown that moves with the highest balance. Three‑step accounts enforce a 4% daily and 8% total loss limit, both static. Instant accounts can be more lenient: Standard instant funding offers 3% daily and 6% trailing drawdowns, while Aggressive variants allow up to 6% daily and 12% trailing drawdowns. This variety in drawdown structure gives AquaFunded traders more flexibility but also demands careful attention to whether the limit is static or trailing.

Minimum trading days and consistency rules:  FTMO’s evaluation requires at least four trading days across the two stages, with no consistency rule. AquaFunded mandates three trading days in the one‑step Standard, five in the one‑step Pro and all multi‑step models. The Pro variants of AquaFunded’s one‑ and two‑step challenges add a 25% consistency rule, meaning no single day can account for more than a quarter of total profits during a payout period. Instant funding models impose similar consistency percentages (15%–40%), and failure to meet them delays payout eligibility until profits are more evenly distributed.

Strategy restrictions:  FTMO requires a stop‑loss on every position, forbids martingale and latency‑arbitrage strategies, and imposes a two‑minute news buffer in funded accounts. AquaFunded allows expert advisors and most discretionary strategies but bans high‑frequency bots and cross‑account hedging. Both firms permit hedging within a single account and allow positions to be held over weekends. AquaFunded’s restrictions on news apply only in funded accounts and revolve around a five‑minute window; FTMO’s news restrictions are shorter but apply universally in funded accounts.

Payouts, Profit Splits and Scaling

FTMO pays traders on a bi‑weekly schedule. Funded traders start with an 80% profit split, which can rise to 90% once scaling milestones are met. The scaling plan increments the account balance by 25% every four months after the trader generates at least 10% net profit and makes two withdrawals. FTMO refunds the evaluation fee upon completion of the Verification.

AquaFunded also operates on a 14‑day payout cycle, but it offers add‑ons allowing the first payout after just seven days. The default profit split across all of AquaFunded’s evaluation and instant models is 90%, higher than FTMO’s starting split. Traders can purchase an add‑on to keep 100% of profits after their first successful withdrawal. There is no formal scaling plan similar to FTMO’s; instead, AquaFunded encourages traders to progress by purchasing larger challenges or combining multiple funded accounts. Evaluation fees are refundable, and the company sometimes offers enhanced refunds (such as returning 150% of the fee) during promotions.

Platforms, Markets and Trading Flexibility

Both firms use MetaTrader 5 as their primary platform, with FTMO additionally supporting MetaTrader 4. Each provides access to a broad mix of forex pairs, stock indices, commodities and cryptocurrencies. FTMO caps leverage at 1:100 in the evaluation stage and reduces it on funded accounts. AquaFunded matches this 1:100 leverage during evaluation but lowers it to around 1:50 on funded accounts; indices and commodities are limited to 1:20 in evaluations and 1:10 in funded accounts, while crypto stays at 1:2 across all stages.

FTMO enforces mandatory stop‑loss orders and prohibits certain high‑frequency or arbitrage strategies. AquaFunded is more permissive, allowing expert advisors and a variety of discretionary methods so long as traders do not engage in high‑frequency algorithmic trading or abuse copy trading. News trading is permitted in evaluations at both firms; FTMO restricts news trading only in funded accounts with a two‑minute buffer, whereas AquaFunded imposes a five‑minute window.

Reputation, Trust and User Feedback

FTMO’s long history and consistent rules have earned it widespread respect among traders. Positive reviews often cite prompt payouts, clear communication and a robust scaling plan. Critics note that FTMO’s drawdown rules are unforgiving—accounts can be terminated for minute breaches of the daily loss limit—and that scaling can take time to build significant capital. Still, FTMO’s stability and transparency make it a benchmark in the industry.

AquaFunded has quickly built a community around its charitable mission and generous profit splits. Traders appreciate the flexibility of choosing between one‑, two‑ and three‑step evaluations or skipping the evaluation entirely via instant funding. Many reviews praise the firm’s bi‑weekly payouts, with some users mentioning that the optional add‑on for a seven‑day first payout is well worth the cost. Critics focus on the complexity of the rules—especially the distinction between static and trailing drawdowns, the multiple consistency thresholds and the five‑minute news window in funded accounts. There have also been reports of hidden triggers, such as automatic closure when floating drawdown exceeds a certain percentage, so traders should monitor their accounts closely.

Which Firm Is Better for Different Trader Types?

Structured learners and long‑term planners:  Traders who want a clear, time‑tested evaluation process with a solid scaling path will likely prefer FTMO. The combination of a 10% and 5% target, static drawdown limits and a well‑defined scaling ladder encourages disciplined growth over months or years.

Flexibility seekers:  AquaFunded offers more entry points and customisation. A trader can choose between a single nine‑percent target, a slightly lower six‑percent target with a consistency rule, two steps with 8/5 or 10/5 targets, or a three‑step process with 6/6/6 targets. Instant funding models further cater to those who want immediate access to capital, albeit with trailing drawdowns and consistency rules. If you value choice and are comfortable managing different types of drawdowns, AquaFunded might be more appealing.

High‑frequency and EA traders:  FTMO’s strict policies around stop‑loss placement and the ban on martingale or latency‑arbitrage strategies could deter algorithmic traders, although basic expert advisors are allowed. AquaFunded’s broader acceptance of EAs (excluding high‑frequency bots) and lack of a stop‑loss requirement in its rules provide a more accommodating environment for algorithmic trading, as long as risk limits are respected.

News and event traders:  Both firms allow trading during economic releases in the evaluation phase. In funded accounts, AquaFunded imposes a five‑minute restriction before and after high‑impact news, while FTMO enforces a shorter two‑minute window. Traders who need extra time to manage positions around news may find AquaFunded’s policy easier to work with, though they should be aware that profits made in the restricted window can be clawed back.

Traders prioritising payouts:  FTMO’s payouts occur every two weeks and require a minimum of 14 days before the first withdrawal. AquaFunded matches the bi‑weekly cycle but offers an optional add‑on for a first payout after seven days and a default 90% profit split, which may attract those who want quicker access to earnings. The absence of a structured scaling path at AquaFunded means traders aiming for very large allocations may eventually need to seek other options or open multiple accounts.

Final Verdict

FTMO and AquaFunded represent two distinct approaches to prop trading. FTMO remains a stalwart with a proven track record, emphasizing disciplined risk management, clear rules and a well‑rewarded scaling path that can lead to large allocations. Its stricter strategy restrictions and conservative starting profit split reflect a focus on long‑term consistency.

AquaFunded, meanwhile, embodies the modern, flexible prop‑firm model. By offering numerous evaluation structures, high default profit splits and instant funding, it appeals to traders who want more choice in how they reach funded status. Its philanthropic message and generous refund policies may also resonate with traders who value social impact. However, the mix of static and trailing drawdown limits, multiple consistency rules and longer news windows requires careful attention.

Ultimately, your decision should hinge on how you trade. If you prefer a steady climb with well‑defined steps and the opportunity to manage millions once you prove yourself, FTMO is the sensible choice. If you seek variety, higher profit splits out of the gate and the flexibility to choose between different challenge structures or even skip the evaluation entirely, AquaFunded might be the better fit. Both firms can be viable routes to funded trading, but aligning their rules with your strategy and risk tolerance is key to long‑term success.

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