The firms with no daily loss limit
For swing traders and part-timers who want to carry unrealized losses without being tied to a daily loss cap, we compare firms that offer programs with no daily loss limit. From the firms we cover, here are the two whose official rules confirm “no daily loss.”
A correction up front: earlier versions of this article listed The5%ers as the flagship example. That was wrong — every current The5%ers program carries a daily loss limit (High Stakes 5%, Hyper Growth 3%), so it has been removed from the list. Details below.
| Lux Trading Firm | Instant Funding | |
|---|---|---|
| Founded | 2021 | 2021 (sources vary) |
| Base | UK (London) | Saint Lucia (operated from London, UK) |
| Daily loss limit | None (not stated in the rules) | None (Instant type) |
| Maximum drawdown | 6% (based on highest-ever balance = trailing) | 10% (static) *Instant type |
| Profit split | 75% (some pages state 80%) | 80% (90% with add-ons etc.) |
| Evaluation fee | From £199 ($100K 1-Step) | From $44 ($5,000 One-Phase) |
| Trust rating | medium (about 5 years in operation) | medium (a few years since public launch) |
If you want to run on a single trailing-style maximum drawdown, Lux Trading Firm is the candidate; if you prefer a static drawdown based on the initial balance, consider Instant Funding. Note that neither is a 10-year veteran — both are rated medium trust on this site — so size your first account accordingly.
The difference between a daily loss limit and a maximum drawdown
Before comparing firms, it is worth drawing a precise line between two rules. Confusing them leads to misreading what “no limit” actually means.
What a daily loss limit (daily loss) is
This is the maximum loss permitted within a single trading day. For example, with a “maximum daily loss of 5%,” you are disqualified the moment your account falls 5% during that day. The defining trait is that the baseline resets when the date changes.
FTMO sets a 5% maximum daily loss on its Challenge, and FundingPips likewise sets a 5% maximum daily loss — this is the majority approach in the industry. Futures-focused firms such as Topstep and Apex Trader Funding also impose a maximum daily loss in dollar terms.
What a maximum drawdown (overall drawdown) is
This is the total decline permitted across the whole account. It does not reset across days and is judged cumulatively. It further splits into two methods.
- Static: fixed against the initial balance. Instant Funding’s One-Phase is 8% (static) and Two-Phase is 10% (static).
- Trailing: follows your highest-ever balance upward. The more profit you make, the higher the line you must protect rises. Lux Trading Firm uses “6% from the highest-ever realized balance,” and futures-focused firms such as Topstep and Apex also use a trailing method.
Important: even with “no daily loss,” there is always an overall drawdown
Even firms with no daily loss limit have a maximum drawdown without exception. That does not mean unlimited losses are allowed. What you gain in freedom from single-day swings, you owe back in discipline on the account’s overall drawdown line. When carrying unrealized losses on a swing position, always know how close an overnight or weekend move could put you to the maximum drawdown.
Firm-by-firm breakdown
The5%ers — a correction: it does not belong on this list
Earlier versions of this article presented The5%ers High-Stakes as a one-stage plan with no daily loss rule, a 4% maximum loss, and fees from $95. On re-verification against the official program pages, none of that holds: High Stakes is a two-step evaluation with a 5% daily loss limit and a 10% static maximum loss, from $19; the one-step Hyper Growth carries a 3% daily loss limit and a 6% stop-out. In other words, every current The5%ers program has a daily loss rule, and the firm cannot be recommended for the specific need this article covers.
Separately, on 2026-08-01 this site re-rated The5%ers from High to Low trust (★4.6→3.3) after the firm itself acknowledged payout delays in March 2026. For current rule details, see The5%ers rules explained.
Lux Trading Firm — a single bet on a 6% trailing drawdown
Lux Trading Firm is operated by the UK entity Lux Trading Firm Ltd, and the Companies House registration confirms it was founded in January 2021 and is still active. With about 5 years in operation, it is still early in building a track record compared with the 10-year veterans.
Why it fits:
- There is no stated daily loss limit in the rules; the design is that your account is stopped the moment you hit the 6% maximum drawdown (based on highest-ever balance = trailing)
- No need for day-by-day loss management — you can focus on a single trailing drawdown
- All account sizes can scale up to a maximum of $10,000,000
- Weekend holds and the use of your own EAs are permitted (third-party EAs are prohibited). Pass the Evaluation (demo) and your evaluation fee is refunded 100%
A note of caution: the profit split is 75% based on the official rules page (some pages state 80%; confirm the applicable rate before signing up), which is below the industry standard. Its proprietary rules are strict — for example, setting a stop-loss before entry is mandatory on every trade — and the Evaluation requires a minimum of 29 trading days (15 for swing), so a quick pass is not possible. Withdrawals are only once a month from the Professional stage onward, and there are also complaint reports regarding fund holds and spreads. The firm explicitly states that it does not conduct regulated activities, and we rate its trust as medium.
Instant Funding — the static-drawdown “Instant” type with no daily loss
Instant Funding is a UK-origin prop firm (the operating entity is registered in Saint Lucia, with a UK entity as payment agent). While the firm states “Established 2021,” this is inconsistent with reporting from industry media, and its operating track record since public launch is still only a few years.
Why it fits:
- The Instant type has “no” daily loss cap, so you can run on the 10% maximum drawdown alone (static; fixed at 5% once you reach 5% profit)
- The drawdown is a “static” method based on the initial balance, making the profit-and-loss line easier to read than trailing
- The challenge types (One-Phase / Two-Phase) also have no time limit, and you can start small from $625
- Challenge accounts support on-demand withdrawals (minimum $25). The firm officially discloses cumulative payouts of $18,741,928 or more since 2023
A note of caution: the challenge-type One-Phase sets a 3% daily loss and Two-Phase sets 5%, so no daily loss is limited to the Instant type. The base profit split is 80%, and reaching 90% requires a paid add-on or meeting conditions. News trading and weekend holds may also require paid add-ons. There are multiple reports of being cited for rule violations at the withdrawal-review stage, and Trustpilot displays a warning flag on its review-collection methods. We rate its trust as medium.
How to choose a firm with no daily loss limit
1. Choose by drawdown method (static or trailing)
In exchange for having no daily loss, the maximum drawdown method drives how it feels to run the account. If you want a fixed, easy-to-read profit-and-loss line, go with a static type (such as Instant Funding’s Instant accounts); if you can accept the protected line rising along with profits, go with a trailing type (such as Lux Trading Firm).
2. Confirm “no daily loss” at the program level
Even within the same firm, the presence of a daily loss varies by program and plan. At Instant Funding (the firm), only the Instant type is free of one, while its challenge plans do impose daily loss limits (3% on One-Phase, 5% on Two-Phase). And rules change: The5%ers was once described — including by us — as having daily-loss-free plans, but all of its current programs carry one (High Stakes 5%, Hyper Growth 3%). Always confirm the relevant plan on the official rules page before signing up.
3. Make trust rating and years in operation your top priority
No daily loss is attractive, but it is meaningless if you cannot withdraw. Both firms in this article are young — Lux Trading Firm and Instant Funding are each rated medium trust here — and the veteran firms with the longest records, such as FTMO, do impose daily loss limits. That trade-off is real: if the absence of a daily loss is worth it to you, the realistic approach is to test these firms with small amounts. If you want to keep costs down, also check our coupons and perks roundup.
Make your final investment decision yourself. This site does not provide investment advice and does not guarantee profits.
Recommended firms
If the absence of a daily loss limit is non-negotiable, the two candidates above are where to look — at small size, given their short records. If you can live with a daily loss rule in exchange for a longer track record, the firms below are our standing recommendations.
FTMO — has a daily loss, but the reassurance of the industry’s largest
The industry standard with 11 years in operation (since 2015). The Challenge uses the majority-type rules of a 5% maximum daily loss and a 10% maximum loss. In exchange for having a daily loss limit, the reassurance from one of the industry’s longest operating and payout track records is second to none.
The free trial lets you test everything at no cost, and the 2-Step Challenge fee is refunded with your first payout after passing (no refund if you fail). See the FTMO free trial guide.
The5%ers — for building up from a small ticket
Operating since 2016. Three plans run in parallel — the one-step Hyper Growth, the two-step High Stakes and the three-step Bootcamp — with fees from $19. The profit split climbs in steps toward 100%, but a flat 3.5% is deducted from every withdrawal. On 2026-08-01 this site re-rated The5%ers from High to Low trust (★4.6→3.3) after the firm itself acknowledged payout delays in March 2026. If you use it, keep the ticket small and confirm your first payout arrives before scaling up.
→ Visit The5%ers official site (discount applied with referral code “HZZS4”)