A study of nearly 10,000 traders conducted by Swiset, a technology provider for retail trading Retail Trading In finance, retail trading refers to individual traders, trading through a broker, or on a platform. This can include novice traders and experienced traders. Trading and investing are divided into two categories, retail and institutional. Institutions include investment banks like JP Morgan or Citibank and global central banks like the US Federal Reserve and the European Central Bank. When we talk about retail trading however, we usually are referring to forex trading, but there are retail trade In finance, retail trading refers to individual traders, trading through a broker, or on a platform. This can include novice traders and experienced traders. Trading and investing are divided into two categories, retail and institutional. Institutions include investment banks like JP Morgan or Citibank and global central banks like the US Federal Reserve and the European Central Bank. When we talk about retail trading however, we usually are referring to forex trading, but there are retail trade Read this Term companies including brokers and prop firms, highlights the steep odds faced by individuals seeking prop trading funding. It turns out only 20% complete the popular one-phase challenges, and even fewer succeed in two-phase formats.

South America leads the latest statistics, both in terms of the number of active traders and the share of those proving that success in prop trading isn't limited to a small minority.

Colombia, U.S. And Brazil Lead in Volume

Colombia leads Leads Leads or lead generation are an essential component of marketing and powerful tool by brokers. In its simplest form, leads can be defined as the outreach of customer interest or enquiry into products or services, most often associated with brokerages.These can be created for purposes such as list building, e-newsletter list acquisition, or for sales leads. Amongst marketers, such lists are one of their most important assets and instrumental to sales.There are a variety of methods for generating Leads or lead generation are an essential component of marketing and powerful tool by brokers. In its simplest form, leads can be defined as the outreach of customer interest or enquiry into products or services, most often associated with brokerages.These can be created for purposes such as list building, e-newsletter list acquisition, or for sales leads. Amongst marketers, such lists are one of their most important assets and instrumental to sales.There are a variety of methods for generating Read this Term all countries in participation, with almost 15% of prop firms’ clients, followed by the United States and Brazil. The study reviewed activity from August 2024 to April 2025, covering 11 regions including Europe, Asia, Africa, and North America. Challenge sizes ranged from $3,000 up to $200,000 in simulated account value.

Traders flocked to the $10,000 challenge—nearly 30% of users chose this category, making it the most popular option. The $100,000 and $25,000 challenges followed. Preferences varied by region: South Americans favored the $10,000 and $25,000 levels, while North Americans leaned toward larger $100,000 and $200,000 accounts.

80% Fail in One-Phase, Almost 90% in Two-Phase

The data paints a sobering picture for aspiring funded traders. In one-phase tests, 79.7% of users failed, while only 20.3% reached funded status. The odds were even slimmer for two-phase challenges, with 88.2% failing and just 11.8% obtaining funding.

On average, it takes about six days for a successful trader to become funded, though timelines varied widely. Caribbean participants averaged nearly fourteen days, while those in Africa and Central America moved through the process in under three days. Direct phase challenges, which enable immediate access without multiple evaluation stages, accounted for the bulk of activity.

How do these figures compare to the data previously presented by FinanceMagnates.com? According to data provided last year by FPFX Tech, a technology vendor for the prop trading sector, out of 300,000 evaluated accounts, just 7% secured a payout. Average returns amounted to roughly 4% of the allocated funding. For example, a trader given access to a $10,000 account typically earned $400, despite paying around $100 to participate in the challenge.

In contrast, a separate internal survey conducted by PipFarm, another proprietary trading firm, indicated significantly higher success rates. The company reported that 41% of its clients achieved payout status.

1.6 Challenges Per User on Average

Despite high rates of failure, participation remains robust, with the average user purchasing 1.6 challenges. Some reportedly attempted as many as 18. Only a small percentage of users (less than 1%) made withdrawals from accounts greater than $300,000, compared to roughly 24% for $100,000 accounts.

Losses tended to be smaller relative to account size in larger challenges. For example, users on $100,000 accounts had relative losses of just 0.3%, while smaller accounts like $15,000 saw losses above 6%.

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Most Fail Within a Week, but Persistence Pays for Some

Notably, users who failed often did so quickly, typically within a week. Those who achieved funding, especially in larger challenges, sometimes spent over a month in pursuit of success.

The findings underscore the competitive nature of prop trading funding challenges. Despite low overall success rates, the continual influx of new participants and frequent repeat purchases suggest an ongoing appetite for remote trading opportunities, especially as prop firms attract a global user base with varying preferences by region and challenge size.

Swiset recently partnered with AFTX, which implemented the company's Trading Tournament Tech to boost user activity and retention.