Prop Firm Guides
Independent guides on how prop firm challenges really work: the rules that end most accounts, what pass and payout rates look like, how to size your trades and how to choose a firm. Built by Merx Research, with no affiliate links.
Rules & mechanics
How a moving breach line works, EOD vs intraday.
Why hitting the target isn't always enough.
Which structure pays more for the same trader.
Which account size gives the best profit per dollar.
37 terms explained in plain English.
Pass rates & payouts
What percentage of traders pass, and why the average misleads.
The three walls between passing and a withdrawal.
Buffers, winning days, consistency checks and caps.
Income by edge, size and risk, after fees.
The key industry and simulation numbers in one page.
Strategy & sizing
A 5-step plan based on your numbers.
Size from the drawdown, with losing-streak math.
Win rate vs reward-to-risk under real rules.
The six numbers to track in a challenge.
Choosing a firm
Ranked by the odds you actually get paid.
Rules and simulated pass rates for 20 firms.
Two firms, same trader, side by side.
How the model works and the red flags.
Which one pays your edge more.