😲 How Much Have You Really Spent on Prop Firm Challenges?

I've spent over $3,000 on prop firm challenges over the past couple of years. A couple with FTMO, another two with The 5%ers, two with Pipfarm, two with TopStep, and a couple more with Top One Futures.

It adds up. But at the time, it never felt like a lot. $300 here, $400 there. It always felt manageable - even smart. After all, I wasn't risking my own capital, right?

And yes, I've blown most of those accounts. Who hasn't? It's part of the prop firm journey. I still hold accounts with Pipfarm and Top One Futures, and I've been through the payout process too. In terms of money in vs money out, I've probably broken even.

But I've learned something more valuable than a payout, it's easy to lose track - not just of your money, but your purpose.

It’s Easy to Justify the Spend

The entry fee always feels small. That’s the appeal. You tell yourself this is the one, and you click “Buy” without much thought.

But when you step back and look at the full picture, resets, retries, and switching firms, the total becomes a real number. Not just in dollars, but in time, effort, and headspace.

The Real Cost Is in the Mindset

If you gave me that same $3,000 (or close to £3,000, I am UK based) and told me to fund a personal account, I guarantee I’d approach it with more care. I wouldn’t be swinging for 10% in a week. I wouldn’t be doubling down on every setup. I’d likely size down, slow down, and take more responsibility.

That’s the difference. With your own capital, you respect the risk. With prop firm capital, it’s easy to trade emotionally. Even recklessly. The consequences feel further away,and that’s where most blow-ups start.

And I’m not speaking in theory here. I’ve done it. So have most traders I know who’ve gone down the challenge route.

Prop Firms Aren’t the Problem - We Are

Prop firms offer an opportunity. They’re not pretending it’s easy, we just convince ourselves it will be. We rush in before we’re ready. We treat evaluations like a shortcut instead of a test of consistency. And when we fail, we try again. Not because we’ve improved, but because we think we should be able to do it.

The churn doesn’t come from the firms. It comes from us.

So What’s the Lesson?

Be honest with yourself. Not just about how much you’ve spent, but why you keep spending.

Are you using prop firms as a tool to scale your skills, or as a ticket to fast money?

Have you actually improved since your first challenge, or are you still making the same mistakes with a new firm?

I still believe prop firms are worth it. But only if you treat them with the same discipline and patience you’d apply to your own capital. Otherwise, you’re not trading. You’re just feeding an addiction.