Best Options Prop Firms (2026)

When most traders search for an options prop firm they picture a firm that funds you to trade equity options (calls and puts on stocks). For years that barely existed — the well-known firms funded futures, not stock options. That has finally started to change.

Vanquish Trader is the first prop firm dedicated to equity options, so a genuine option exists now — but it is brand new, with a short track record. The other realistic path remains options on futures: contracts like options on the E-mini S&P 500 (ES) at established futures firms. This page ranks both honestly: Vanquish for equity options, the proven futures firms for options on futures.

These firms fund a simulated futures account after you pass an evaluation (or buy an instant plan). You then trade CME products on platforms such as NinjaTrader, Tradovate, Rithmic or TradingView. Whether options on futures are available depends on the firm, the plan and the platform — it is not guaranteed everywhere.

Crucially, the drawdown, daily-loss and consistency rules were written mainly with outright futures in mind. Options strategies behave differently (defined-risk spreads, theta decay, assignment), so you must confirm that the rulebook and the platform actually permit the options structures you want to trade before you pay.

Vanquish Trader sits first for genuine equity options — it is the only firm that funds calls and puts on stocks directly, with a 100% split and full strike/expiration flexibility. We rank it first on *fit* while being clear it is the highest-risk on track record (founded 2024, small/mixed review base), so start small and confirm a payout before scaling.

For options on futures, Topstep and Apex Trader Funding lead on track record, platform breadth and trust, with MyFundedFutures and Take Profit Trader close behind for flexible rules and fast payouts. Tradeify and Alpha Futures round out the list — newer but credible, with flexible plans that give options strategies room to breathe. We rank firms lower purely on track record, not on whether they fit options trading.

Confirm three things in writing: (1) that options on futures are tradable on your specific plan and platform; (2) how the drawdown is calculated (trailing vs static, and whether it reacts to unrealised option P/L); and (3) any consistency or position rules that could clash with multi-leg or held-overnight strategies.

Also check margin and contract availability for the options you want, and whether data fees for options-on-futures feeds are bundled. Match the firm to your style — and always check current pricing and rules, because they change often, especially at newer firms.

Be sceptical of any firm marketing itself as a pure "options prop firm" for equity options — verify exactly what you can trade before paying, and assume the realistic offering is options on futures. A firm appearing here does not guarantee every options strategy is permitted on every plan.

Risk note: evaluation and funded prop-firm accounts are simulated until you are funded and paid, options on futures carry significant and sometimes leveraged risk, and rules and pricing change often. Never treat fees as guaranteed income, and start small to confirm both the platform and a payout work before scaling.