Published on runvigil.app — April 2026
TL;DR (40-word direct answer): Prop firm news trading rules are not standardized. Of the 20 largest firms, 4 fully permit news trading, 7 restrict it with a blackout window (typically 2-5 minutes before and after high-impact releases), 6 ban it entirely during red-folder events, and 3 allow it only in the evaluation phase. The specific rule you are subject to depends on both the firm and which product within the firm.
Why a map exists and you cannot find one
Every prop firm trader who has ever been through a trailing drawdown hit around the NFP release knows the rule exists. Most of them cannot tell you what the rule actually says at the firm they are currently trading with, because the rule is buried across three different pages (the FAQ, the rulebook PDF, and the specific product parameters page), and the language varies between firms.
There is no single place on the internet that lists all 20 firms' current news trading rules in a comparable format. Review sites cover one firm at a time. Firm websites refuse to mention competitors. This essay is the map.
The rule types
Before the table, the five categories every news trading rule falls into.
Type 1 — Full permission. Trade freely during any news release. No window, no restrictions. Rare.
Type 2 — Blackout window. You cannot have an entry or an exit within X minutes of a scheduled high-impact release. Entries before the window and held through the release are usually permitted. Exits within the window are usually permitted (you cannot close a losing position fast enough to dodge the rule, but you can hold through).
Type 3 — Entry ban only. No entries within the window, but existing positions can be held and exited. Stop losses still honored.
Type 4 — Full ban during release. No positions held during scheduled high-impact releases. Must be flat X minutes before, cannot re-enter until Y minutes after.
Type 5 — Phase-dependent. Different rules for the challenge/evaluation phase than for the funded phase. Almost always the funded phase is stricter.
The map — 20 firms, current as of April 2026
| Firm | Rule type | Window (before/after) | Applies to | Source |
|---|---|---|---|---|
| TopStep | Type 1 (fully permissive) | None | Combine + Funded | topstep.com |
| Apex Trader Funding | Type 2 (blackout with bracket order exception) | N/A (mandatory brackets) | PA + Live Funded | support.apextraderfunding.com |
| FTMO | Type 5 (phase-dependent) | 2 min before/after (Funded only) | Challenge: none. Funded: 2 min window | ftmo.com |
| FundedNext | Type 2 (blackout, automation allowed under conditions) | 5 min before/after red-folder | All products | fundednext.com |
| The5%ers | Type 3 (entry ban only) | 5 min before/after | All products | the5ers.com |
| MyFundedFX | Type 4 (full ban during release) | 2 min before / 2 min after | All products | myfundedfx.com |
| MyFundedFutures | Type 4 (full ban during release) | Flat before release, cannot re-enter | All products | myfundedfutures.com |
| Funded Trading Plus | Type 2 (blackout) | 5 min before/after | All products | fundedtradingplus.com |
| Bulenox | Type 2 (blackout) | Aligned with Apex rules (bracket order exception) | PA + Funded | bulenox.com |
| Tradeify | Type 2 (blackout) | 2 min before/after | Advanced accounts only | tradeify.co |
| Earn2Trade | Type 5 (phase-dependent) | Permissive in TCP evaluation, stricter in funded | TCP / Funded | earn2trade.com |
| Leeloo Trading | Type 4 (full ban during release) | 5 min before/after red-folder | All products | leelootrading.com |
| Blue Guardian | Type 2 (blackout) | 2 min before/after | All products | blueguardian.com |
| Take Profit Trader | Type 2 (blackout) | 2 min before/after | All products | takeprofittrader.com |
| Lux Trading Firm | Type 3 (entry ban only) | 2 min before/after | All products | luxtradingfirm.com |
| City Traders Imperium | Type 2 (blackout) | 2 min before/after | Challenge + Funded | citytradersimperium.com |
| SurgeTrader | Type 4 (full ban) | 2 min before / 2 min after red folder | All products | surgetrader.com |
| Traders With Edge | Type 2 (blackout) | 2 min before/after | All products | traderswithedge.com |
| Smart Prop Trader | Type 2 (blackout) | 2 min before/after | All products | smartproptrader.com |
| E8 Markets | Type 3 (entry ban only) | 5 min before/after | All products | e8markets.com |
This table is a snapshot of firm-stated policies as of April 2026. Firms update rules without notice. Vigil tracks changes daily via our prop firm rule database. If you spot a discrepancy, the firm's own support documentation is the source of truth.
What "high-impact news" actually means
The window rules above are meaningless without knowing which events trigger them. Firms use Forex Factory's red-folder calendar as the de facto standard, with some variation:
- Tier 1 (universally flagged across all firms): NFP, FOMC rate decision, CPI, FOMC minutes, ECB rate decision, Fed Chair Powell speeches, ADP employment, GDP advance release.
- Tier 2 (flagged by most firms but not all): PPI, retail sales, Unemployment Rate, ISM Manufacturing PMI, Consumer Confidence, Building Permits, Housing Starts.
- Tier 3 (flagged by some firms, usually in futures-specific programs): EIA crude oil inventory (for CL traders), natural gas storage (for NG traders), USDA crop reports (for agricultural contracts).
If your firm flags Tier 1 and Tier 2, you have roughly 18-25 events per month that trigger the rule. If your firm flags all three tiers and you trade energy or grains, you have closer to 35-45 events per month.
The trap most traders fall into
The common error is treating the news trading rule as a "stay flat through NFP and you're fine" rule. The specific failure modes we see audited at Vigil:
The entry-seconds-before-window violation. Trader enters at 08:29:55 ET for an 08:30 CPI release, thinking they made it in. Most firms consider any trade opened within the window, regardless of exact second, a violation.
The trailing stop hit during the window. Trader is flat for the NFP release. But they have a trailing stop set on a different instrument from an earlier position, and it triggers during the window. Some firms count any execution in the window as a violation, not just intentional entries.
The "I checked an hour ago" calendar drift. Red-folder events can be added or promoted from Tier 2 to Tier 1 throughout the trading day. Traders who check at 09:00 and assume nothing will be added in the afternoon get burned at 14:00 by a promoted speech.
The phase-transition rule change. Passing from FTMO Challenge (news trading permitted) to FTMO Funded (2-minute blackout window) means the exact same trading playbook can violate on day one of funding. The rule change happens at the product transition, not at a trader-visible marker.
The bracket order edge case. Apex's "mandatory bracket orders" rule doesn't exempt you from slippage during news — your stop can still blow through the intended level during a high-impact release, and the post-event debrief still counts the breach.
The strategic read
News trading rule type correlates strongly with firm risk tolerance. TopStep's full-permission stance is consistent with a firm that relies on trailing drawdown and position sizing as its primary risk mechanisms. MyFundedFX and Leeloo's full-ban stance is consistent with firms that are willing to trade away a popular trader subset in exchange for lower slippage exposure on their books.
If you are a news trader, your firm selection is already narrowed to 4 of 20 candidates (TopStep, Apex with brackets, FTMO during challenge phase, Earn2Trade TCP). If you are not a news trader but you hold positions through sessions, you are still subject to these rules via the "position held during window" clause at most firms.
How to verify your specific firm's current rule
- Go to your firm's support documentation. Not their marketing page, not their FAQ summary — the full rulebook PDF or the support knowledge base.
- Search for "news" and "high impact" separately.
- Cross-reference against the product you are trading. Some firms publish separate rulebooks for different product tiers (evaluation vs. funded).
- Check the "last updated" date at the bottom of the rulebook page. If it's older than 6 months, assume the rule has been updated elsewhere without the rulebook being refreshed.
- If you cannot find explicit news trading language, email support with a specific question: "Does the [product name] allow entries and exits within 2 minutes of a red-folder release on forexfactory.com?" Get the answer in writing. Screenshot it. That's your only defense if the rule is contested.
FAQ
Which prop firms allow news trading?
TopStep fully permits news trading. Apex permits it with bracket order requirements. FTMO permits it in the challenge phase but imposes a 2-minute blackout in the funded phase. Earn2Trade permits it in their TCP evaluation product. Most other firms impose some form of blackout window or full ban.
What is a red-folder event?
A "red folder" event on Forex Factory's economic calendar is a Tier 1 high-impact release — NFP, FOMC decisions, CPI, ECB rate decisions, and similar. Most prop firms use Forex Factory's categorization as their reference.
How long is the typical news trading blackout window?
Most firms use a 2-minute window (2 minutes before and 2 minutes after the scheduled release time). The5%ers, FundedNext, and Leeloo use a 5-minute window. Some firms flat-out ban positions during the release regardless of timing.
Does the news trading rule apply during the challenge phase or only when funded?
It depends on the firm. FTMO and Earn2Trade are more permissive in the evaluation phase and stricter in the funded phase. Most other firms apply the same rule across both phases.
Can I hold a position through a news release?
At most firms with a blackout window, yes — you can hold a position through the release if the entry was made before the window started. At firms with a "full ban" (Type 4), you must be flat before the window begins.
Vigil tracks the current news trading rule for all 20 prop firms in its rule database, updated daily. Every audit compares your trade timestamps against the news calendar for the firm you specified. Try a free audit at runvigil.app.
I build Vigil, an AI trade auditor for 20 prop firm rulesets. You can try a free audit at runvigil.app.
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