[Beginner's Guide] Futures Prop Rules Explained From Scratch: Contracts, Trailing DD, Consistency, Activation Fees, and Trading Hours
β» Figures were confirmed on each firm's official pages and on the CME in September 2026. Rules change frequently, so re-check with the official source before buying. Times are given in JST (with US summer/winter time noted).
π’ Ad / affiliate disclosure: We do not hold affiliate links with any futures prop firm.
How this differs from FX props
| Item | FX prop | Futures prop |
|---|---|---|
| Sizing | Lots | Contracts (with a per-account cap) |
| Max loss | Usually static | Usually trailing |
| Daily loss | Almost always present | Many firms have none |
| Pricing | One-time fee | Often a monthly subscription + an activation fee on passing |
| Overnight holds | Free | Usually has a daily forced-close time |
β Contracts: how many lots is one contract
| Futures contract | FX equivalent |
|---|---|
| GC (Gold, 100 oz) | XAUUSD 1.00 lot |
| MGC (Micro Gold, 10 oz) | XAUUSD 0.10 lot |
A "micro" (the M prefix) is one-tenth of a "mini." For indices (NQ, ES, etc.), the size of one index CFD lot varies by broker, so it can't be expressed in lots.
β‘ Max loss: the floor rises
| Method | When the floor rises |
|---|---|
| Static | It doesn't rise |
| EOD trailing | When the closing price sets a new high |
| Intraday trailing | When floating profit sets a new high |
Here's an example with a $50K account and a $2,000 max loss.
| Intraday high | Close | EOD floor | Intraday floor | |
|---|---|---|---|---|
| Start | β | $50,000 | $48,000 | $48,000 |
| Day 1 | $51,500 | $51,000 | $49,000 | $49,500 |
| Day 2 | $52,500 | $50,500 | $49,000 | $50,500 |
| Day 3 | $50,600 | $50,400 | $49,000 | Account terminated |
With the intraday type, floating profit you failed to lock in still counts as a loss against you. Beginners should choose the EOD or static type.
At most firms, the floor stops rising once it nears the starting balance (FTMO Futures locks it at the starting capital). In other words, trailing is only strict until you've built up that first +$2,000.
β’ Daily loss: none / soft / hard
- Soft: only that day's trading is halted
- Hard: the account is terminated
This varies by plan even within the same firm. At FTMO Futures, Growth's is soft (funded stage only), while Pro's $1,000 is hard. The5ers Futures only applies 2.5% on the $100K and $150K sizes.
β£ Profit target and consistency rule
For a $50K account, the target is usually around $3,000 (6%), with a single stage being the norm. It's normal for the target to be larger than the max loss.
| Firm | Consistency rule | Applies to |
|---|---|---|
| Topstep | Your single best day must be under 55% of the target | Evaluation |
| FTMO Futures | Growth 40% / Pro 50% | Evaluation only |
| The5ers Futures | 40% | Evaluation and funded |
A violation usually doesn't end the account β it just delays passing or the payout. With a subscription model, though, the extra month you spend still costs you the monthly fee.
β€ Compare pricing by total cost
| $50K | Monthly fee | Activation fee | Total if you pass in 1 month |
|---|---|---|---|
| Topstep | $49 | $149 | $198 |
| FTMO Futures Pro | $139 | None | $139 |
| The5ers Futures | $100 (one-time) | None | $100 |
A subscription doesn't mean unlimited free blowups
A monthly fee only covers your evaluation account, and only once per month.
| Does it come back within the monthly fee? | |
|---|---|
| Blow up once a month during evaluation | Yes (covered by the next renewal) |
| Blow up 2+ times a month during evaluation | From the 2nd time on, each one costs a reset fee |
| Blow up on the funded account | No (FTMO states this explicitly; Topstep unconfirmed) |
- Topstep: each monthly renewal banks one free reset (it doesn't expire if unused). Extra resets cost $49, up to 2 per account per day. Buying a reset also pushes your next billing date to 30 days from that day, so one reset effectively costs about the same as a month's fee
- FTMO Futures: if you blow up during evaluation, you get a new account on your next billing date. To restart immediately, buy a reset ($50K is $109 for Growth, $129 for Pro β a reset doesn't move the billing date). Blowing up a Sim-Funded account ends it
Sources: Topstep: What is a Reset? Β· Reset Purchase Limits, FTMO Futures: Trading Objectives & Rules
β₯ Most funded accounts are simulated
The usual 3-stage path is Evaluation β Funded (sim) β Live (often invite-only). Profit splits are still paid out on the sim stage. A 90% split is the norm (The5ers Futures is 80%), with a per-payout cap.
β¦ Forced-close times
| Summer time | Winter time | |
|---|---|---|
| FTMO Futures forced close | 5:10am next morning | 6:10am next morning |
| The5ers Futures forced close | 5:50am next morning | 6:50am next morning |
| CME daily maintenance | 6:00-7:00am | 7:00-8:00am |
Weekend holds are almost never allowed. For whether automated trading is allowed, see A full audit of automated-trading rules at 28 futures prop firms.
If you're trading gold (GC/MGC)
- For a $50K account, that's 1-3 MGC contracts (0.10-0.30 lots). One GC contract is 1.00 lot
- Choose EOD or static drawdown. With the intraday type, a run-up followed by a full round-trip only ever raises the floor
- Cap your daily profit. At Topstep's $50K, if a single day's profit exceeds $1,650, the consistency rule delays your pass
Checklist before buying
- Is the max loss static, EOD, or intraday β and where does it lock?
- Is the daily loss none, soft, or hard?
- Maximum contract count
- The consistency rule's percentage and which stage it applies to
- Monthly fee Γ expected number of months + activation fee
- Forced-close time (in JST) and whether weekend holds are allowed
- Split rate and payout cap
FAQ
Q. How many lots is one gold futures contract?
One GC contract is 1.00 lot of XAUUSD, and one MGC contract is 0.10 lots.
Q. Do you lose the account if you violate the consistency rule?
At most firms, no β it just delays passing or your payout.
Q. Can you buy these from Japan?
Topstep, Apex, Bulenox, Funded Futures Network, FTMO Futures, and The5ers Futures do not list Japan on their official restricted-country lists (as of September 2026).
Related articles
- A full audit of automated-trading rules at 28 futures prop firms
- FTMO Futures vs. Topstep: which should you buy?
- How do The5ers Futures and FTMO Futures compare?
- We calculated the expected value of the FTMO Futures challenge
- We calculated the expected value of Topstep
- We calculated the expected value of FundedNext Futures
- We calculated the expected value of MyFundedFutures
- We calculated the expected value of Lucid Trading
Written by
Hosono P | the prop firm strategist
I buy challenges with my own money and record everything through to the payout. Recorded payouts: Β₯6.1M in total from Fintokei, Fundora and Funded7, plus $4,776 from The5ers (as of September 2026). Author of the semi-discretionary EA "ELDRA".