Last updated: March 2026. This article covers both forex/CFD and futures prop firms with no daily loss limit — who offers it, what replaces the daily limit, and which trading styles benefit most. Affiliate links marked ⭐.
The daily loss limit is the rule that kills more prop firm accounts than any other. Not because it's unfair — but because traders encounter it without fully understanding how it interacts with their strategy. A single bad morning on a news release. A position that gaps against you and recovers the same day. A drawdown on an open trade that never closed but still breached the intraday limit. Account over.
A growing number of prop firms have removed the daily loss limit entirely — replacing it with a maximum drawdown structure that judges your performance over the full duration of the account, not within a single calendar day. For swing traders holding positions for days or weeks, for news traders who know their setups recover intraday, and for scalpers who need room to breathe through normal market noise, this structural change matters enormously.
This article covers the best no-daily-loss-limit prop firms across both forex/CFD and futures markets, explains what replaces the daily limit at each firm, and flags the tradeoffs you need to understand before choosing one.
In this article
What Replaces the Daily Loss Limit — And Why It Matters
The most important thing to understand about no-daily-loss-limit firms: removing the daily limit doesn't mean removing risk controls. Every firm on this list replaces the daily limit with a different risk structure. Understanding that structure is more important than celebrating the absence of a daily cap.
At all no-DLL firms, the daily limit is replaced by one of three drawdown approaches:
✅ Static (Fixed) Drawdown
The floor is set at the account start and never moves. If you start with $100K and a 10% max drawdown, your floor is always $90K — no matter how much profit you make. Best: any strategy. Most forgiving for beginners and swing traders.
⚠️ EOD Trailing Drawdown
The floor adjusts at end of day, based on your closing balance. If you end the day at $102K, your floor moves up by $2K. Intraday moves don't affect the floor — only closed P&L at day's end. Good: most strategies. Watch: floor rises when you're profitable, tightening your buffer.
🔴 Intraday Trailing Drawdown
The floor trails your highest equity in real time, including unrealised profits. A trade that goes +$800 then reverses to flat has cost you $800 of drawdown — even though you didn't lose a dollar. Avoid as a beginner. Used by some instant-funding plans.
At a firm with no daily loss limit and an EOD trailing drawdown, you can lose 8% in one terrible morning and keep your account — as long as your total equity since the drawdown high hasn't breached the max threshold. At a firm with a 5% daily limit, that same 8% morning instantly terminates the account. The no-DLL structure gives your strategy room to express itself over a full session or multiple days. The tradeoff: your overall risk budget is the only protection the firm has, so it's usually tighter in total terms.
Which Trading Styles Benefit Most
Not every trader benefits equally from a no-daily-loss-limit structure. Here's a practical guide to whether this matters for your approach:
| Trading Style | Benefit from No DLL? | Why |
|---|---|---|
| Swing trader (holds overnight/days) | ⭐ Very high | Positions move against you intraday before recovering. A 5% DLL would terminate accounts that eventually become profitable over multi-day holds. No DLL lets the trade breathe. |
| News trader (trades around high-impact releases) | ⭐ High | News creates extreme intraday spikes that can easily breach a 3–5% daily limit before recovering. No DLL removes this single-session catastrophe risk. |
| Macro / position trader (holds weeks) | ⭐ Very high | Multi-week positions experience large intraday drawdowns as a feature, not a bug. A daily limit is structurally incompatible with this style. |
| Day scalper (flat by close each day) | Moderate | Benefits from not being stopped out by a bad morning that would recover by afternoon. But a disciplined scalper with good size management rarely hits daily limits anyway. |
| Algorithmic / EA trader | Moderate–High | Depends on strategy. High-frequency EAs that manage positions through intraday volatility benefit significantly. Tight-stop EAs with defined daily R don't need no-DLL. |
| Pure intraday momentum trader | Low | If you define your risk per trade tightly and rarely approach the daily limit anyway, the DLL is rarely the binding constraint. No-DLL adds little marginal value. |
Quick Comparison — All 8 Firms
| Firm | Market | No-DLL Plan | What Replaces It | Max DD | Consistency Rule | Affiliate |
|---|---|---|---|---|---|---|
| FTMO Swing | Forex / CFD | Swing Account | Balance-based max DD | 10% | ❌ None | ⭐ |
| Alpha Capital Swing | Forex / CFD | Alpha Swing Plan | Balance-based max DD | 10% | ❌ None | ⭐ |
| The5ers | Forex / CFD | All accounts | Static (fixed) drawdown | 5–10% | ❌ None | — |
| FundedNext Stellar Instant | Forex / CFD | Instant Funding plan | 6% trailing drawdown (intraday) | 6% | ❌ None | ⭐ |
| Apex Trader Funding | Futures | All evaluation accounts | EOD trailing threshold | Varies by size | 30% (eval) | — |
| Topstep | Futures | Trading Combine | EOD trailing drawdown | Varies by size | ❌ None | — |
| My Funded Futures | Futures | Standard plan | EOD trailing drawdown (4–5%) | 4–5% trailing | ❌ None | — |
| Top One Futures | Futures | Elite Challenge (eval) | EOD trailing drawdown | EOD trailing | None (eval); 25% (funded) | ⭐ |
Best Forex / CFD Firms With No Daily Loss Limit
The no-daily-loss-limit structure is less common in the forex/CFD world than in futures — most firms default to a 3–5% daily cap. These four firms are the standouts that offer genuine no-DLL access for currency, indices, and commodity traders.
FTMO Swing Account ⭐
FTMO's Swing Account is the strongest no-daily-loss-limit option in the forex/CFD space, and for many swing traders it's the obvious first choice. The reason is simple: FTMO Swing removes not one but three of the most restrictive rules simultaneously — no daily loss limit, no news trading restrictions, and no prohibition on overnight or weekend holds. For macro traders, swing traders, and anyone whose strategy involves holding through intraday volatility, this is the most permissive structure available from a firm with $400M+ in verified payouts.
The drawdown structure is balance-based (static) on the 2-Step Swing evaluation: the daily loss limit of 5% and max drawdown of 10% are both calculated from your starting balance, not your current equity. This means your risk floor never tightens as you become profitable — a critical distinction from trailing drawdown structures where a good run paradoxically increases your risk of breach.
The funded Swing account carries the same no-DLL, no-news-restriction, and weekend-hold permissions — these aren't just evaluation perks that disappear on funding. This matters because the majority of firms relax rules for the evaluation to attract sign-ups, then tighten them significantly in the funded phase. With FTMO Swing, the funded account terms are structurally identical to the evaluation.
The main practical consideration: FTMO Swing uses 1:30 leverage (compared to 1:100 on the Normal account). For traders who manage risk by position sizing in lots rather than leverage, this is irrelevant. For traders used to high-leverage setups, it requires adjustment.
Why it wins
- No daily loss limit on evaluation and funded account — both phases
- No news trading restriction — trade CPI, NFP, ECB without exclusions
- Weekend and overnight holds fully permitted — hold through weekend gaps
- Balance-based (static) drawdown — floor never tightens as you profit
- No consistency rule — your best day never disqualifies you
- $400M+ verified payouts — strongest payout track record on this list
- Fee refunded on first payout (2-Step Swing)
- Free trial available before paying
⚠️ Watch out for
- Leverage capped at 1:30 (vs. 1:100 on Normal accounts) — plan position sizing accordingly
- Swing account fees are slightly higher than Normal equivalent (~10–15% more)
- Prices in EUR — minor GBP/USD fluctuation in fee cost
Select "Swing" account type · No daily limit · No news restrictions · Weekend holds permitted
Alpha Capital Group — Swing Plan ⭐
Alpha Capital Group's Swing Plan is the strongest no-DLL option for UK-based traders specifically, and a compelling alternative to FTMO Swing for global traders seeking a UK-registered firm with third-party verified payouts. The Swing Plan removes the daily loss limit and explicitly permits overnight and weekend position holding — the two features most critical to position and swing trading styles.
What sets Alpha Capital apart from FTMO Swing is accountability and verification: they are a genuine UK Companies House-registered entity (No. 13719951) at 10 Lower Thames Street, London. That's a real UK address, real registration, real public accountability — not an offshore entity with a placeholder jurisdiction. For UK traders navigating their own tax and compliance requirements, this distinction matters. Their $48M in payouts is verified through Payout Junction, a third-party auditor — not self-reported marketing figures.
The free trial available on all Alpha Capital accounts (including Swing) is the right first step — no credit card required, available at $50K, $100K, and $200K sizes under real Swing Plan conditions. Before paying anything, test whether overnight holds, weekend positions, and the absence of a daily limit fit your trading rhythm on their actual platform.
Why it wins
- No daily loss limit on Swing Plan
- Overnight and weekend holds fully permitted
- UK-registered company — highest accountability standard for UK traders
- $48M+ Payout Junction-verified payouts — independently audited
- Free trial with no card — test Swing Plan before paying
- 5% max daily loss on standard plans (most forgiving non-swing DLL if you want it)
- Trustpilot: 4.7/5 (17,000+ reviews)
⚠️ Watch out for
- 40% Best Day Rule on funded accounts — no single day can exceed 40% of total profits at payout time (applies to Swing funded phase)
- Challenge fees are non-refundable (unlike FTMO's fee refund on first payout)
- MT5 EA users must submit source code (MQ5 + EX5) for approval
Select "Alpha Swing" plan · UK-registered · No DLL · Overnight & weekend holds
The5ers — All Accounts
The5ers takes a distinct structural position among forex/CFD prop firms: no daily loss limit on every single account type, across all plans, at every account size. There is no premium "Swing" plan you have to specifically select — it's simply the default. Combined with a static (fixed) drawdown on all accounts, The5ers offers the most structurally forgiving risk framework of any forex prop firm covered in this article.
Static drawdown means the loss floor is calculated from your initial starting balance and never moves, regardless of how profitable the account becomes. If your $100K Hyper Growth account has a 5% max drawdown, the floor stays at $95,000 whether you're up $2,000 or up $20,000. This combination — no daily limit and a floor that never tightens — is the most favourable possible risk structure for swing and position traders managing multi-day holds.
The Hyper Growth $5K account at $22 entry is the lowest-cost credible no-DLL option on the forex side, full stop. At that price, the risk of testing whether The5ers' execution, spreads, and platform suit your strategy is negligible. Pass it once at $5K, understand the rule set experientially, and then scale to a $25K or $50K account with documented confidence.
Why it wins
- No daily loss limit on all accounts — no plan selection required
- Static (fixed) drawdown — the floor never moves, ever
- From $22 — lowest entry cost to a no-DLL, static-drawdown firm
- 10+ years operating — most longevity track record on this list
- Scale to $4M: 10% account growth at every milestone
- Trustpilot: 4.8/5 — joint-highest score on this list
- Use code MATCH for 5% off
⚠️ Watch out for
- Bootcamp plan starts at 50% profit split — lower than competitors initially (scales to 100%)
- No bracket news trades (pending orders on both sides of a release)
- Stop-loss required on every trade (Bootcamp) — mandatory, not optional
- 30-day inactivity rule — account terminates if no trades placed in 30 days
From $22 · Use code MATCH for 5% off · No DLL on all accounts · Static drawdown
FundedNext — Stellar Instant ⭐
FundedNext's Stellar Instant plan is the only no-evaluation, no-daily-loss-limit option on this list. There's no challenge to pass — you pay the one-time fee and receive a funded account immediately. For experienced traders with a proven strategy who don't want to spend weeks in an evaluation, this is a meaningful structural difference.
The tradeoff is explicit: the daily loss limit is removed, but it's replaced by a 6% intraday trailing drawdown. This is the most aggressive drawdown type (as explained in the explainer section above) — the floor moves up in real time as your equity rises, including unrealised profits on open positions. Traders who run tight stops and defined intraday risk will find this manageable. Swing traders who hold large floating positions are at more risk from intraday trailing mechanics than from a static or EOD structure.
The reason this still earns its place: the 24-hour payout guarantee ($1,000 compensation if FundedNext misses it) and the 61,000+ Trustpilot review base mean the firm's payout reliability is the most independently verified of any no-DLL forex firm. If you want instant access and verified payouts, and your strategy involves intraday trading where the trailing drawdown is manageable, FundedNext Instant is the strongest option.
Why it wins
- No daily loss limit
- No evaluation — immediate funded account access
- 24-hour payout guarantee or $1,000 compensation
- 61,000+ Trustpilot reviews — most verified reputation of any forex prop firm
- 80% profit split from day one
- Multiple platforms: MT4, MT5, cTrader, Match Trader
⚠️ Watch out for
- Intraday trailing drawdown — profitable open positions move the floor in real time. Not recommended for swing traders or large-position holders as a primary account
- Fee is non-refundable (no challenge to pass = no fee refund)
- Payout requires 14 days of trading history on the funded account
- 3.5% bank wire withdrawal fee
Stellar Instant plan · No evaluation · No daily limit · 24-hr payout guarantee
Best Futures Firms With No Daily Loss Limit
No-daily-loss-limit is far more common in futures prop trading than in forex/CFD. The majority of established futures firms have moved away from hard daily limits, replacing them with EOD trailing drawdown structures. The firms below represent the strongest options — including the US-only firms (Apex, Topstep, My Funded Futures) and the globally accessible Top One Futures.
Apex Trader Funding
Apex Trader Funding is the benchmark for no-DLL futures prop trading. With over $600 million in payouts and arguably the most active trader community of any futures firm, Apex has built its reputation on a single structurally clear proposition: during the evaluation, there is no daily loss limit whatsoever. Your only constraint is the trailing threshold — the maximum drawdown from your equity high. You can lose the entire threshold in a single session if the market moves against you, and the account still stands.
The evaluation is a simple 1-step structure: hit the profit target without breaching the trailing threshold. No daily limit, no minimum trading days. This is the most direct path to futures funding for traders who can manage their overall drawdown discipline without relying on a daily cap as a circuit breaker.
The 30% consistency rule during evaluation means no single day can generate more than 30% of your total profit — a notable constraint for traders whose strategy involves occasional high-conviction outlier days. On the funded account, this rule is typically removed or loosened. The trailing drawdown is EOD-based in the funded phase for most account types — your floor adjusts at day's close, not intraday.
Why it wins
- No daily loss limit — the clearest no-DLL structure in futures
- $600M+ payouts — highest verified total on this list
- Up to 20 simultaneous accounts — massive scaling potential
- 1-Step evaluation — fastest path to funding
- Frequent 80%+ discount promotions — monitor for sale events
- Large community — extensive third-party guides and strategy resources
⚠️ Watch out for
- 30% consistency rule during evaluation — outlier days capped at 30% of total profit
- Trailing drawdown moves with equity highs (EOD on funded, check eval specifics)
- 100% of first $25K–$100K of profits to trader, then 90%/10% split — lower ongoing split than some competitors
- Primarily NinjaTrader / Tradovate — limited platform options vs. forex firms
No daily loss limit · EOD trailing drawdown · $600M+ verified payouts
Topstep
Topstep is the original retail futures prop firm — operating since 2012, over a decade before most firms on any list were founded. Their Trading Combine evaluation has no daily loss limit, with risk controlled entirely through an EOD trailing drawdown. The firm's longevity is its strongest credential: they've survived multiple market cycles, platform changes, and the entire arc of the retail prop industry from niche curiosity to mainstream infrastructure.
The proprietary TopstepX platform is a differentiator worth noting — it includes built-in risk tools, daily loss alerts, and performance analytics that make it one of the most trader-supportive execution environments in the futures prop space. For traders who want structure and accountability tools baked into the platform (rather than managing risk externally), TopstepX provides genuine value beyond just the funded account access.
Why it wins
- No daily loss limit on Trading Combine evaluation
- Longest operating history — 12+ years, pre-dates the retail prop industry
- TopstepX platform includes risk management tools built in
- Strong education ecosystem and community
- Back2Funded feature — prevents losing funded status from one bad day
⚠️ Watch out for
- Activation fee applies to move from evaluation to funded account
- First payout requires 10 active trading days and 5% profit threshold
- 90% split after the first $5K — lower initial split than some newer competitors
No DLL · Trading Combine · EOD trailing drawdown · Founded 2012
My Funded Futures
My Funded Futures removes the daily loss limit and replaces it with a tight EOD trailing drawdown — 4% on larger accounts, 5% on smaller ones. The tradeoff versus Apex is nuanced: the trailing threshold at My Funded Futures is smaller in absolute percentage terms, but there's no consistency rule (unlike Apex's 30% cap). For traders whose strategy involves occasional outlier days — a single high-conviction trade that makes up the majority of monthly profits — My Funded Futures is the stronger structure.
Three payout plans offer genuine flexibility: Starter (after 5 winning days), Expert (every 14 days above buffer), and Milestone (flexible). The first $10,000 in profits is 100% to the trader on all plans — only after that does the standard 90/10 split apply. This front-loaded full-split structure benefits traders who generate most of their monthly income in the early payout cycles.
Why it wins
- No daily loss limit on all standard accounts
- No consistency rule — outlier days don't penalise you
- First $10K of profits: 100% to trader
- Three flexible payout schedules — Starter, Expert, Milestone
- 100,000+ traders — large community with established support infrastructure
⚠️ Watch out for
- EOD trailing drawdown of only 4% on larger accounts — tighter than Apex's trailing threshold
- Payout buffer system — you must be above a minimum profit buffer to request payout
- Contract scaling rules vary by account size — check maximums before sizing up
No DLL · No consistency rule · First $10K at 100% split
Top One Futures ⭐
Top One Futures is the youngest firm on this list and among the most rapidly growing. Founded in 2023 and fully operational by 2025, it's the only futures firm here with explicit CFTC/NFA regulatory oversight — the highest regulatory standard in the US retail futures prop space. For traders who treat regulatory accountability as a primary screening criterion, this is a meaningful differentiator over the other futures firms on this list.
The Elite Challenge evaluation has no daily loss limit: your only risk constraint is the EOD trailing drawdown. Positions must close by 4:00 PM ET Friday (no weekend holds — common to all futures prop firms), and automated trading is not permitted. But within those standard futures constraints, the no-DLL structure combined with EOD trailing gives traders the full session to manage open positions without intraday circuit breakers.
The payout speed is the operational standout: average under 4 hours via Riseworks, with a 4.8/5 Trustpilot rating across 3,300+ reviews. For a firm operational for under two years, this payout track record is notable. The 90% profit split from day one — with no graduated structure or first-N-dollars exception — means your income doesn't change as you scale.
Why it wins
- No daily loss limit on Elite Challenge evaluation
- CFTC/NFA regulated — highest regulatory standard of any firm on this list
- Average payout under 4 hours — fastest verified speed on this list
- 90% split from day one — no graduated structure
- Globally accessible (US access fully supported)
- 4.8/5 Trustpilot (3,300+ reviews) for a sub-2-year firm
⚠️ Watch out for
- 25% consistency rule on funded accounts (though not in evaluation)
- No automated trading / EAs permitted on any account type
- Post-May 2025 payout structure requires 10 active trading days before first payout (ANYTIME add-on removes this)
- No weekend holds — all positions must close by 4:00 PM ET Friday
Elite Challenge · No DLL · CFTC/NFA regulated · Average payout under 4 hours
Which Firm Is Right for Your Trading Style?
Start with FTMO Swing. No daily limit, no news restrictions, weekend holds permitted, and fee refunded on first payout. It's the only plan that removes all three restrictive rules simultaneously. Use the free trial before paying.
Alpha Capital Group Swing Plan. UK-registered, $48M Payout Junction-verified, free trial with no card. The 40% Best Day Rule on the funded account is the one rule to manage carefully — keep an eye on your single-day profit percentage as you approach a payout.
The5ers Hyper Growth at $22. Static drawdown on every plan, no daily limit on every plan, a decade of operating history. Use code MATCH for 5% off. Start small, prove your strategy, scale.
FundedNext Stellar Instant. Be aware of the intraday trailing drawdown — it's more aggressive than the other forex options. If your strategy involves tight intraday risk and you won't be holding large floating positions, it's manageable.
Apex Trader Funding. Up to 20 simultaneous accounts, $600M+ in verified payouts, 1-step evaluation. Be aware of the 30% consistency rule during evaluation.
Top One Futures. CFTC/NFA regulated, average payout under 4 hours, 90% split from day one. The consistency rule applies on funded accounts (25%), not during evaluation.