Original research
Questions about this industry nobody else is measuring.
FirmFax tracks 71 prop firms in a structured dataset, which makes some questions answerable that are otherwise guesswork. Each study here states its method, names its limitations, and is backed by data kept in the open.
September 4, 2026
23 of the 71 firms we track have no published review scoreTrustpilot has withdrawn the review score of 23 of the 71 firms we track
We opened the public review profile of every prop firm FirmFax tracks, on one day. Nearly a third no longer show a score, and the notice Trustpilot leaves in its place does not say the same thing each time. The full sweep is published as a file.
Read the study →September 5, 2026
77 of the 294 prices we list are not on the pages we citeA quarter of the prices we list could not be found on the pages we cite
An audit of FirmFax's own data. We matched all 294 prices we list against the captured text of the pages we cite for each one; 77 did not appear. A hand check of 18 of those in a live browser put the method's false-positive rate at 11%. Both datasets are published as files.
Read the study →September 6, 2026
48 of the 71 firms we track publish no dated payout evidenceTwo thirds of prop firms publish no dated evidence that they have ever paid a trader
We looked for one thing on all 71 prop firms FirmFax tracks: a date attached to a payout the firm published itself. 23 firms have it. The other 48 publish a lifetime total with no as-of date, a wall of undated certificates, a policy page, or nothing at all. This measures what firms publish, not what they pay.
Read the study →September 6, 2026
18 firms tighten the news rule once you are funded; 27 never sayOnly 39 of 71 prop firms say what their news rule is once you are funded
We read the published rules of every prop firm FirmFax tracks and recorded the news-trading rule at two stages: during the evaluation, and on the funded account. Eighteen firms tighten the rule once the account is funded. Twenty-seven never state both stages at all. The full census is published as a file.
Read the study →September 6, 2026
Only 4 of the 71 firms we track are genuinely silent on consistencyWe held no consistency figure for 26 firms. Only four of them are actually silent
A consistency rule caps how much of your profit may come from your best day, and it is one of the most common reasons a passing trader is refused a payout. We had a percentage on file for 45 of the 71 firms we track. Reading the other 26 page by page, 16 publish a rule, six state plainly that none applies, and four say nothing at all. Every URL we opened is published as a file.
Read the study →September 6, 2026
44% of a random sample of our claims were confirmed by the page we citeWe checked 64 of our own claims against the pages we cite. 28 held up.
FirmFax publishes 3,301 checkable claims about 71 prop firms. We drew 64 of them at random — eight from each class a buyer decides on — and opened the page our record cites for each one. 28 were confirmed, 13 were contradicted outright, and 23 sat on a page that never mentions them. The draw is seeded, every verdict is published claim by claim, and we will re-run it.
Read the study →Why this exists
Prop firms grade traders constantly. Almost nobody grades the prop firms, and the few who do are usually paid by them. FirmFax publishes the measurement and the method together so the conclusion can be argued with.
The current dataset covers 71 firms and their account types, with a dated rule-change log behind it. If a study here is wrong, the raw reads are in the repository and the correction will be published on the same page.