Prop firms whose payouts run weekly, daily or on demand after the first withdrawal, with each program's first-payout rule, ongoing frequency, split at that frequency and methods, plus the buffers, caps and consistency checks that apply.
Short answer: FTMO has the cleanest refund in our reviews: the 2-Step Challenge fee comes back in full with your first reward. FundedNext does the same on its Stellar 2-Step. The5ers refunds 70% of the High Stakes fee with the first payout, while Maven Trading, FundingPips, Blue Guardian and Goat Funded Trader make you wait until the third or fourth reward. None of the futures firms we review refunds the fee for passing.
FundedTime has a commercial partnership with Clarity Traders. It is included below on the same criteria and scoring as every other firm.
How we built this list
We included a firm if its FundedTime review, checked against official pages in November 2026, states that the evaluation fee is refunded on at least one program once you are funded and paid. We also included Clarity Traders, whose refund is a paid add-on rather than standard, and say so. Firms are ordered by FundedTime score, which follows our published methodology; the table also shows when each refund arrives, because a refund at the first reward is worth far more than one at the fourth. No firm paid to be included.
Left out because their reviews state fees are not refunded on passing: Alpha Capital Group ("all our evaluation plans are non-refundable"), My Funded Futures, Topstep ("most fees are non-refundable"), Alpha Futures, TradeDay, Bulenox (Fast Track is explicitly non-refundable), Lucid Trading, Earn2Trade, Tradeify, Apex Trader Funding and Funded Trading Plus. Take Profit Trader refunds within 72 hours only if the account is unused, minus a $75 fee, and Funded Trading Plus gives a 14-day cancellation right only if the program has not been used. Those are cooling-off rules, not refunds for passing. E8 Markets refunds the fee if it removes you for a prohibited practice, and a secondary source describes refunds only for unused accounts under 30 days old; we found no refund-after-payout policy.
Refundable fees compared
| Firm | Refund rule (as our review states it) | When it is paid | Score | Review |
|---|---|---|---|---|
| FTMO | 2-Step Challenge fee refunded 100%; 1-Step and Instant not refunded | With the first reward | 8.8 | FTMO review |
| The5ers | 70% of the High Stakes fee; external funds only, not Hub Credit | With the first funded payout | 8.4 | The5ers review |
| FundedNext | Stellar 2-Step fee refunded; 1-Step and Lite also refunded later | 2-Step: first reward. 1-Step and Lite: third reward | 8.2 | FundedNext review |
| FundingPips | 2 Step Standard only; not 1 Step Flex, 2 Step Pro, 2 Step Flex or Zero | At the fourth reward | 7.4 | FundingPips review |
| Maven Trading | 1-, 2- and 3-Step, Omo, Buy Now Pay Later and Instant Funding; Instant Mini not listed | After the third reward, sent separately | 7.2 | Maven review |
| Blue Guardian | Accounts bought on or after 21 January 2026; not Instant Starter or hard-breached accounts | With the fourth payout | 7.0 | Blue Guardian review |
| Clarity Traders | Not refunded by default; paid Refund Guarantee add-on returns the full fee | After the first successful payout (with add-on) | 6.6 | Clarity Traders review |
| Goat Funded Trader | Refunded on most models, not Instant Daily; also refunded if GFT ends the relationship over trading style with no other violation | With the fourth payout | 6.2 | GFT review |
Scores are FundedTime scores out of 10.
The firms in detail
FTMO (8.8/10)
FTMO refunds 100% of the 2-Step Challenge fee with your first reward. The first reward can be requested from the 14th day after your first trade on the funded FTMO Account, so a trader who passes and makes any profit gets the fee back within a few weeks of funding. The 1-Step Challenge (from €79) and the Instant Account (from €169) are not refunded. Fees on the global site are priced in euros, starting from €89 for the 2-Step. See the FTMO review and FTMO payout guide.
The5ers (8.4/10)
The5ers refunds 70% of the High Stakes fee, paid with the first funded payout, and only for fees paid with external funds rather than Hub Credit. The first payout needs at least 14 days of funded activity and $150 of profit. The5ers also awards non-withdrawable Hub Credit for passing each step (10% of the fee for Step 1 and 20% for Step 2), usable toward a new challenge. Its per-size High Stakes prices could not be verified. See the The5ers review.
FundedNext (8.2/10)
FundedNext refunds the Stellar 2-Step fee with the first reward, and the Stellar 1-Step and Lite fees with the third reward. On the default 2-Step cycle, the first reward is available 21 days after funded-account activation. Unlike most firms here, FundedNext publishes clear USD list prices: for example $549.99 for a $100k Stellar 2-Step, refunded in full with that first reward. See the FundedNext review and FundedNext payout guide.
FundingPips (7.4/10)
FundingPips refunds the registration fee at the fourth reward on a 2 Step Standard Master account only. It is not refunded on 1 Step Flex, 2 Step Pro, 2 Step Flex or Zero, and the site disclaimer otherwise describes fees as non-refundable. The 2 Step Standard lists at $652 for $100k. The weekly reward cycle pays a 60% split, so four rewards can come quickly, but at a lower share. See the FundingPips review.
Maven Trading (7.2/10)
Maven refunds the initial fee after the third reward, sent separately, on its Standard 1-, 2- and 3-Step challenges, Omo 2-Step, Buy Now Pay Later and Instant Funding. Instant Mini does not list a refund. Standard payouts run every 10 business days after the first funded trade, so the third reward is at least 30 business days in. Maven's fees are already low (for example $440 for a $100k 2-Step). See the Maven Trading review.
Blue Guardian (7.0/10)
For accounts bought on or after 21 January 2026, Blue Guardian refunds the evaluation fee with the fourth payout. It does not apply to Instant Starter, or if the account is hard-breached first. Payouts run every 14 days (7 with an add-on), so the fourth payout is roughly two months into funding on the standard cycle. Also note the Guardian Shield, which can cut your split to 50% before you get there. See the Blue Guardian review.
Clarity Traders (6.6/10)
Clarity Traders' fees are not refunded by default. A paid Refund Guarantee add-on returns the full challenge fee after your first successful payout, but the add-on price is not published on the FAQ, so you cannot calculate whether it is worth buying. Payouts need 7 trading days on the funded account and are paid in USDT only. See the Clarity Traders review.
Goat Funded Trader (6.2/10)
GFT's payment terms say there are no refunds except in two cases: the evaluation fee is refunded with that account's fourth payout (not on Instant Daily), and the fee is refunded in full if GFT ends the relationship because your trading style is unsuitable and no other violation is found. The first two rewards on most accounts are capped, and a 3% processing fee applies to every reward. Prices could not be verified on the official site. See the Goat Funded Trader review.
Worked example: what a refund is really worth
Take a $100k FundedNext Stellar 2-Step at its $549.99 list price. If you pass and receive a first reward, the $549.99 comes back with it, so your net cost of getting funded is zero. Now compare a firm that refunds at the fourth payout: if your account is breached after the second payout, you never receive the refund. A refund only lowers the cost for traders who pass and keep the account long enough. For everyone else, the fee is spent. Our challenge cost calculator shows how attempts and resets change the real cost.
What to check before you rely on a refund
- Which program. At FTMO, FundingPips and Blue Guardian, the refund applies to some products and not others.
- Which payout. First (FTMO, FundedNext 2-Step, The5ers), third (FundedNext 1-Step and Lite, Maven) or fourth (FundingPips, Blue Guardian, GFT).
- How much. The5ers refunds 70%, not 100%, and only on externally paid fees.
- Purchase date. Blue Guardian's refund applies to accounts bought from 21 January 2026.
- Add-ons and discounts. Clarity's refund costs extra. Check at checkout whether the refund is the amount you paid or the list price; our reviews do not state this for most firms.
Low-cost entry can matter more than a refund if you expect several attempts: see cheapest prop firm challenges and how prop firm payouts work. Verify the refund terms on the firm's site before you buy. Most traders do not pass evaluations, and fees are at risk.
Sources: FundedTime reviews of each firm, checked against official pages in November 2026. Official sites: FTMO: ftmo.com; The5ers: the5ers.com; FundedNext: fundednext.com; FundingPips: fundingpips.com; Maven Trading: maventrading.com; Blue Guardian: blueguardian.com; Clarity Traders: claritytraders.com; Goat Funded Trader: goatfundedtrader.com.
FAQ
Which prop firms refund the challenge fee?
In our November 2026 reviews: FTMO (2-Step, with the first reward), The5ers (70% of High Stakes with the first payout), FundedNext (Stellar 2-Step with the first reward; 1-Step and Lite with the third), FundingPips (2 Step Standard at the fourth reward), Maven Trading (after the third reward), Blue Guardian (fourth payout) and Goat Funded Trader (fourth payout). Clarity Traders refunds only with a paid add-on.
Is the FTMO fee refundable?
The 2-Step Challenge fee is refunded in full with your first reward. The 1-Step and Instant Account fees are not refunded.
Do futures prop firms refund the evaluation fee?
None of the futures firms we review refunds the fee for passing. Take Profit Trader refunds within 72 hours only if the account is unused, minus a $75 fee, which is a cooling-off rule rather than a pass refund.
Does The5ers refund the full fee?
No. The5ers refunds 70% of the High Stakes fee with the first funded payout, and only for fees paid with external funds rather than Hub Credit.
Is a refund worth more than a cheaper challenge?
Only if you pass and keep the account long enough to reach the refund payout. A refund at the fourth payout is lost if the account is breached after the second.
Educational content only, not financial advice. Trading involves substantial risk of loss. Prop firm rules change often; check the firm's official terms. Some links may be affiliate links; see our disclosure.
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