A new study from Swiset, a tech provider to brokers and prop firms, has revealed that just 20% of traders succeed in one-phase prop trading challenges, with success rates dropping below 12% in two-phase models.
Despite the steep odds, participation continues to rise, especially in South America, where Colombia, Brazil, and the wider region lead in volume and challenge completion attempts. The study reviewed nearly 10,000 trader accounts from August 2024 to April 2025 across 11 regions.
Key Insights
- 79.7% fail in one-phase; 88.2% fail in two-phase challenges
- $10,000 challenge is the most popular, followed by $100K and $25K
- South Americans favor $10K and $25K, while North Americans lean toward $100K+
- Average time to success: 6 days, but varies by region (e.g., 3 days in Africa, 14 in the Caribbean)
- Most failures occur within 1 week
- Traders attempt an average of 1.6 challenges each, with some reaching 18
- Only 7% of 300K accounts ever got a payout, per previous FPFX Tech data
In contrast, prop firm PipFarm reported that 41% of its clients reached payout status, suggesting large disparities across firms and funding models.
Swiset’s research underscores the razor-thin margin for success in modern prop trading – but also the resilience of participants who continue to re-attempt, adapt, and aim for funding despite the odds.
With trading tournaments, new formats, and growing regional differences, the prop trading market is evolving fast – and platforms, firms, and traders alike will need to adapt.
Disclaimer: The content presented herein is for informational purposes only. While efforts have been made to ensure the accuracy of the information, no guarantees are made regarding its completeness, reliability or suitability for any particular purpose. Before making any financial decisions, we strongly advise seeking guidance from a qualified professional.
