Futures firms comparator

450 Lexington Ave, New York, NY 10017

Suite 4.3.02, Block 4, Eurotowers, Gibraltar, GX11 1AA

United States

Gibraltar

2026

2023

No Boxcar payout fee.

Evaluation and initial funding are simulated. Prime, Flex and Funded reach live review after 5 approved payouts. Payout triggers review at USD 6,000 / 8,000 / 10,000 / 12,000 daily profit for 25K / 50K / 100K / 150K; the risk team may also initiate review. Approval, KYC and a separate agreement are required. One live account per eligible funded account with at least one payout.
Live starts at USD 0 with size-based EOD drawdown of USD 1,000 / 2,000 / 3,000 / 4,500, no DLL and exchange-specific position scaling. The floor locks at USD 100 upon earning profit equal to the starting drawdown or requesting an earlier payout. Daily requests when eligible.
Moving live closes all household simulated accounts; accounts without payouts are refunded. Prime, Flex and Funded forfeit remaining simulated profit, apart from an eligible final payout. Payout may settle profit above the buffer, capped at USD 15,000 combined with the usual split, after broker verification; the prior close is used and the transition session is excluded. Standard cooldown after a live breach: 2 weeks.

Express to Live converts the CASH account to LIVE after reaching its CASH target and requesting the first payout through “Switch to Live”. Phidias states that the full path from signup to first payout and LIVE conversion can be completed in 48 hours on every E2L size. Fundamental and Premium may transition to LIVE after 5 payouts or $100,000 in cumulative profits, subject to the risk team’s discretion.

Payout: daily requests when eligible. Prime: from 3 days; Flex and Funded: from 5 days per cycle. Plaid: instant delivery to US banks; WorkMarket by ADP: 2 days for international banks. Prior review and approval required.

Fundamental: every 10 qualifying trading days. Premium: every 5 qualifying days. LIVE from Express to Live: daily.

Gross amounts, in 25K / 50K / 100K / 150K order:

• Prime: first payout USD 1,000 / 2,000 / 2,500 / 3,000; later payouts USD 1,500 / 2,500 / 3,000 / 3,500.
• Flex: up to 50% of cycle profit, capped at USD 1,000 / 2,000 / 2,500 / 3,000.
• Payout: available profit above the buffer, with no additional per-request cap.
• Funded: payouts 1-3, USD 1,000 / 2,000 / 2,500 / 3,000; payouts 4-5, USD 1,000 / 2,500 / 3,000 / 3,500.

Fundamental and Premium: up to $2,000 per cycle on 50K, $2,500 on 100K, and $2,750 on 150K. LIVE accounts originating from Express to Live have no maximum daily limit.

USD 500 gross per request, before the split.

$500.

Cycle profit goals, in 25K / 50K / 100K / 150K order:

• Prime: USD 250 / 500 / 750 / 1,000.
• Funded: first cycle USD 1,500 / 3,000 / 6,000 / 9,000; later cycles USD 1,250 / 2,500 / 3,500 / 4,500.
  Flex and Payout need a net-positive cycle. Each approval starts a new cycle. Minimum age: 18. Identity verification is required; businesses receive payment in their own name and provide formation, ownership and IDs for owners holding at least 25%. One permanent personal or business profile per trader, with no conversion or replacement. Requests are final and submitted through support.

Fundamental and Premium apply a 30% consistency rule on CASH accounts. A qualifying day must generate at least $150 on 50K, $200 on 100K, or $250 on 150K. Express to Live uses a separate bonus and automatic LIVE conversion system.

Phidias states that 90% of payouts are processed in under 30 minutes and all payouts within 24 hours.

USD per contract per side; round trip = twice the rate:

• ES, NQ, RTY, NKD, YM: 1.75.
• 6A, 6B, 6C, 6E, 6J, 6S, 6N: 2.40.
• CL, QM, NG: 2.00; QG: 1.30.
• PL, GC, SI, HG: 2.30.
• HE, LE, ZS, ZC, ZL, ZM, ZW: 2.80.
• MES, MNQ, M2K, MYM, MCL: 0.50; MGC: 0.80; SIL: 1.60.
  CME, CBOT, NYMEX and COMEX contracts. QM, QG and NKD count as minis. MNG and MHG are unavailable. Live costs follow onboarding terms.

Active or failed evaluations and purchased direct-funded BoxcarFunded accounts can be reset. A reset replaces the account with the same plan and retains its history. Cost is the lower of the original amount paid for that account and its current reset price. Free accounts pay the current reset price. Funding earned by passing an evaluation needs a new evaluation after a breach; live accounts cannot be reset.

Fundamental and Premium allow unlimited evaluation resets. A failed subscription also resets with the next 30-day renewal. Express to Live does not allow resets. Premium CASH permits one funded-account reset.

Level II: USD 13/month for CME only or USD 39/month for all four exchanges. Rithmic server-side copier: USD 15/month across all accounts on the login. An optional second login is also offered in the portal, with no confirmed public price.

Market-depth data and additional exchanges can be purchased from the member area.

BoxcarFunded starts directly in simulated funding.

Prime, Flex and Payout have one evaluation.

EOD trailing on Prime, Flex and Funded. Payout offers EOD or intraday in evaluation; funded is always intraday, including open profit. The floor never falls and stops at starting balance + USD 100, reached at starting balance + MLL + USD 100. A Flex payout request also locks the floor. Touching the floor, including through open losses, breaches the account.

Express to Live uses a static drawdown that never moves. Fundamental and Premium use trailing drawdown calculated at the end of the day; the limit remains fixed during the session.

Prime, Flex and Payout offer a DLL at purchase; the choice carries to both stages and cannot change. Hitting it closes positions and locks trading until the next session, without itself breaching the MLL. On funded Prime and Funded, the DLL becomes 60% of peak EOD profit after closing above the initial trail balance, and can only grow. Flex and Payout keep a fixed DLL; Funded 25K never acquires one.

There is no daily loss limit on Express to Live, Fundamental, or Premium.

Prime and Payout must retain starting balance + MLL + USD 100 after a payout. Flex has no additional buffer but must respect its loss floor. Funded applies cycle goals and caps as well as loss-floor protection.

A minimum threshold applies when requesting a payout, but withdrawals may reduce the balance to $50,100, $100,100, or $150,100. Phidias does not treat this as a locked buffer.

Unlimited evaluations and up to 5 active funded accounts across plans. Additional direct-funded purchases remain in reserve. No household simulated trading while a member trades live.

Unlimited evaluation accounts. A trader may operate a LIVE account while pursuing a new evaluation. Simultaneous maximum: 5 Fundamental CASH, 5 Premium CASH, and 5 Express to Live CASH/LIVE accounts. The 10K Drawdown Summer Edition allows unlimited simultaneous entries, with only the trader’s best account counting on the leaderboard. Fundamental and Premium 150K accounts count as two slots in their category.

No fixed deadline to pass. Inactivity rules still apply.

Prime evaluation: a 1-day pass is possible. Flex and Payout have no separate fixed minimum beyond consistency. Payouts: Prime from 3 days; Funded requires 5 trading days per cycle; Payout allows daily requests when other conditions are met.

Evaluation: 0 days on Express to Live, 3 on Fundamental, and 1 on Premium. CASH: 0 days for the Express to Live bonus, 10 qualifying days between payouts on Fundamental, and 5 on Premium.

No activation charge after passing and no account subscription.

Funded Flex: 5 separate days per cycle, each with at least USD 100 / 150 / 200 / 250 net profit for 25K / 50K / 100K / 150K. Day counts restart after payout approval.

On Fundamental and Premium CASH accounts, a qualifying day must close with at least $150 on 50K, $200 on 100K, or $250 on 150K.

Only Flex sim-funded scales contracts with accumulated closing profit; losses or payouts can lower its tier. Prime, Payout and Funded retain full limits. Live scaling is confirmed per exchange.

On LIVE accounts, traders may request a contract-limit increase in writing. The risk team may approve, reject, or adjust the limit.

One-time purchase with no automatic renewal. Platform and Level I data included. Breaches, lack of use or a change of mind do not normally qualify for refunds; duplicate or incorrect charges, missing access and statutory rights are reviewed. An unused purchase may receive discretionary review before any order or trade.

LIVE accounts may advance to ELITE after 60 days and a $125,000 balance, or MASTER after 120 days and $250,000. Transition remains subject to risk review.

Express to Live and Fundamental: 80%. Premium: 75% on the first payout, 80% on the second, 85% on the third, 90% on the fourth, and 100% from the fifth onward.

Phidias Wallet centralizes account subscriptions, bank or cryptocurrency withdrawals, purchases, activations, and LIVE-account funding directly from earnings. Phidias Points are an internal unit that cannot be transferred outside the ecosystem.

Own automated strategies are allowed on evaluations and simulated-funded accounts, subject to all account rules. Software errors and HFT restrictions still apply.

Robots, fully automated algorithms, and HFT are prohibited. Semi-automated software is allowed when the trader actively monitors and manually adjusts every trade.

Opposing different products or mini/micro pairs are allowed within one evaluation or sim-funded account. Long and short in the same exact contract, or opposing same/correlated products across accounts, including other traders or firms, are prohibited. Same-account exceptions do not carry over to live. A first violation may return balances to the prior close; repeated violations may breach accounts and end access.

Hedging is prohibited on the same underlying within one account (including ES vs MES), between CASH accounts, and through coordinated opposite trades between traders; violations can close all involved accounts and lead to a ban. Multiple assets may be traded simultaneously, but the contract cap applies across all symbols; bypassing it can close the account without refund.

Realistic scalping is allowed. More than 50% of profit from trades lasting 5 seconds or less may trigger review. A flag is not automatic failure; confirmed or repeated exploitation may lead to profit removal and loss of access.

DCA and scaling into positions within contract and loss limits.

DCA is allowed to smooth entry points, provided consistent risk management is maintained.

Permitted within account limits, although Boxcar strongly discourages it.

Across your own Boxcar accounts, using built-in or third-party copiers. Each account keeps its own limits. Credential sharing and trading for others are prohibited.

Allowed within the maximum account limits. Identical strategies exceeding the authorized allocation may result in account suspension.

Allowed on Prime, Flex, Funded and Payout evaluation. Funded Payout must be flat from 1 minute before through 1 minute after high-impact USD news on the Forex Factory calendar; violations breach the account. Cancel pending entries and pause automation. Live has separate terms.

At least one closed trade with USD 1 net profit or loss in every 30-calendar-day period. Otherwise the account may be permanently removed. Breached evaluations may be removed after 30 days without a reset.

Prime: none in evaluation, 40% per funded cycle. Flex and Payout: nominal 50% in evaluation plus a 2-point cushion, an effective 52% ceiling; no funded consistency. Funded: 20% per cycle. Best net day divided by total net profit; fees and losing days count. Missing consistency delays passing or payouts without itself breaching drawdown.

There is no consistency rule during evaluation or on Express to Live. On Fundamental and Premium CASH accounts, no single day may represent more than 30% of total profit. It is calculated over at least 4 days.

Evaluation and sim-funded positions must close before weekends and exchange early closes.

Allowed only on Premium. Fundamental and Express to Live must close before the end of the session.

Exploitative HFT, latency or delayed prices, unrealistic simulated fills, technical defects, spoofing, layering, prohibited coordination or hedging, and trading for others. Brief flipping to count trading days is allowed but does not replace minimum-profit days or payout goals.

Robots and fully automated trading; HFT; lottery-style or full-margin trades during high-volatility news; old or illiquid contracts; spreads between expirations; one-tick Treasury-bond arbitrage; exploitation of technical or market errors.

Trading during the overnight session is allowed, but positions cannot cross the daily close: flatten by 16:45 ET and re-enter from 18:00 ET in the next open session. Scheduled automatic flattening is not a breach. Live follows its own schedule.

Allowed only on Premium. Fundamental and Express to Live must close before the end of the session.

Phidias requires consistent position sizing and risk management. Lottery-style trading, excessive margin usage, or non-replicable patterns may lead to reduced contracts or account closure.