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Paris
1 Allied Business Centre, Coldharbour Lane, Harpenden, England, AL5 4UT
Léon Grimm
Andrew Blaylock & George Kohler
France
United Kingdom
2023
2023
Merit Live: Phoenix covers the processor fee on withdrawals above $500.
Live Funded account at EdgeClear on Rithmic. Classic and Spark: after 4 payouts. Daily: once $1,200/$3,000/$6,000 has been paid (Seed/Starter/Growth). Merit: straight to Live on approval. Risk review required; if not passed, the pre-funded payout limit may be extended instead. Live amount: Classic $1,250/$2,000/$3,500; Spark $400/$1,000; Daily $500/$1,250/$2,000; Merit $2,000. Static drawdown, daily limit agreed with the trader, and every rule waived except overnight and over-week positions. Other funded accounts go dormant on transfer.
Qualified traders may be selected to trade real capital through the Alpha Futures Live Program or Alpha Prime. Live accounts offer daily uncapped withdrawals, no consistency rule and no news-trading restrictions.
Classic: weekly, first payout after 5 trading days and then every 5. Spark: bi-weekly, first payout after 5 trading days. Daily: any trading day once profit matures (3 trading days; 5 for a day above 30% of total profit and above the tier's daily cap). Merit Live: any time, up to 10 per day. Processing: 2 to 3 business days.
- Zero, Standard and Advanced: Up to 4 times per month after 5 winning trading days of $200 or more
- Direct: Up to 4 times per month after meeting its Withdrawal Profit Target and 20% consistency rule
Per payout: Classic $600/$1,000/$2,000 (Starter/Growth/Scale); Spark $300/$400 (Seed/Starter). Daily: $200/$500/$1,000 per trading day (Seed/Starter/Growth), with $1,000 per day per trader across all Daily accounts. Merit Live: no maximum. PayPal: $2,000 per month.
- Advanced: $15,000 per account
- Zero 25K: $1,000
- Zero 50K: $1,500
- Zero 100K: $2,500
- Standard 50K: $3,000
- Standard 100K: $4,000
- Standard 150K: $5,000
- Direct 25K: $1,000
- Direct 50K: $2,000
- Direct 100K: $2,500
- Direct 150K: $3,000
Classic and Daily: $75. Spark: $30 (Seed) or $75 (Starter). Merit Live: $1.
- Zero: $200
- Standard: $500
- Advanced: $1,000
- Direct: $500
After passing: review of up to 72 hours, then KYC and Pre-Funded contract within 48 hours. The trailing drawdown locks at the starting balance on the first payout. Every denied payout comes with a written reason from the risk team. No crypto payouts.
Same day
Per contract and side on TFeed; dxFeed is double. ES, NQ, RTY and YM $1.09; MES, MNQ, M2K and MYM $0.35; CL $1.15; MCL $0.43; GC $1.20; MGC $0.43; NG $1.20; 6E $1.20; ZN $0.80; ZB $0.83; BTC $3.38; MBT $1.38. Same rates on every line, in evaluation and funded.
Classic, Daily and Spark: unlimited, by paying the fee or with reset coupons (one per month the challenge stays alive; they stack and never expire). Classic: a failed account is reset free at renewal. Merit: no reset.
Evaluation Resets
Evaluation reset prices are shown in each challenge. Paying the next monthly subscription also resets an Evaluation.
Qualified Resets
Available after a breach on Zero and Standard Qualified accounts.
| Plan | 25K | 50K | 100K | 150K |
|---|---|---|---|---|
| Zero | $399 | $499 | $799 | — |
| Standard | — | $599 | $799 | $999 |
Performance Review (+20% on the price): 20 to 30 page report on the trader's own trades. Free ATAS licence with dxFeed.
- Level 2 (Depth of Market) Data for all exchanges: $41/month per user
- EUREX DOM data: $23 per month
Scaling beyond the Classic plan on request, after a full review of the trades.
Classic and Daily: end-of-day trailing in evaluation and funded. Spark: end-of-day trailing in evaluation and real-time trailing once funded. The trailing drawdown locks at the starting balance. Merit: static, the whole $2,000 balance. Live: static.
- EOD trailing on every plan
- Locks at the starting balance
- Does not reset after a performance fee
Classic and Spark: 90%. Daily: 80%. Merit: 50% until the trader has withdrawn twice the starting balance, then 80%.
Classic, Daily and Spark: none. Merit: 25% dynamic (soft breach). Live: agreed with each trader based on their results.
- Advanced: none
- Zero: applies in Evaluation and Qualified; hitting it locks the account until the next trading day
- Standard: none in Evaluation; applies once Qualified
- Direct: applies from day one
- Zero, Standard and Direct: up to 5 Qualified accounts
- Advanced: up to 3 Qualified accounts; an active Advanced Qualified account limits the user to 3 total
Classic and Daily: a locked buffer equal to the maximum drawdown stays in the account and is not withdrawable. Spark and Merit: none.
Unlimited challenges. Pre-funded: 5 on TFeed (up to 3 Spark, 3 Daily, 3 Classic Growth or Scale and 5 Classic Starter) and 3 on dxFeed. Live: up to 5, at Phoenix's discretion. Merit: one attempt; another requires buying a Classic or Daily account first.
No deadline. Spark closes after 90 days without a trade. Merit: 30 calendar days.
Classic and Daily: 2. Spark: 1. Merit: none; the challenge lasts 30 calendar days.
- Zero (Evaluation): 1 day
- Standard (Evaluation): 2 days
- Advanced (Evaluation): 3 days
- Zero, Standard and Advanced Qualified: 5 winning days of $200 or more before each performance fee
- Direct: no minimum trading days; withdrawals require its profit target and 20% consistency rule
No monthly fee on funded accounts. Activation: $29 one-time on Spark; $0 on Classic, Daily and Merit. Live: CME professional data at $135/month per exchange, deducted from the account.
No activation fee on any plan. Direct is paid once; Zero, Standard and Advanced charge monthly only during Evaluation.
Phoenix Extra: PHX earned for ideas and ambassador work, usable on accounts, resets and activation fees. Not convertible to cash.
Classic: 5 days between payouts with at least $100/$200/$300 profit (Starter/Growth/Scale). Spark: 5 days with at least $40 (Seed) or $100 (Starter). Daily and Merit: none.
Zero, Standard and Advanced require 5 winning days with at least $200 profit each before every performance fee request. Direct requires its Withdrawal Profit Target and 20% consistency rule.
Classic: the contract limit rises with profit at $1,000, $2,000 and $4,000 up to the account maximum, in evaluation and funded, and drops if profit falls back. Spark, Daily and Merit: full size from day one. Live: one extra mini per $2,000 of profit.
The scaling plan limits maximum position size according to accumulated profit. Zero 25K has no scaling plan; Advanced and Direct have no scaling plan.
Zero Qualified
| Profit | 50K minis | 50K micros | 100K minis | 100K micros |
|---|---|---|---|---|
| Less than $1,500 | 1 | 10 | 2 | 20 |
| $1,500-$2,000 | 2 | 20 | 3 | 30 |
| $2,000-$3,000 | 3 | 30 | 4 | 40 |
| $3,000-$4,500 | — | — | 5 | 50 |
| $4,500+ | — | — | 6 | 60 |
Standard Qualified
| Profit | 50K minis | 50K micros | 100K minis | 100K micros | 150K minis | 150K micros |
|---|---|---|---|---|---|---|
| Less than $1,500 | 2 | 20 | 3 | 30 | 3 | 30 |
| $1,500-$2,000 | 3 | 30 | 4 | 40 | 4 | 40 |
| $2,000-$3,000 | 5 | 50 | 5 | 50 | 5 | 50 |
| $3,000-$4,500 | 5 | 50 | 10 | 100 | 10 | 100 |
| $4,500+ | 5 | 50 | 10 | 100 | 15 | 150 |
Classic: monthly subscription every 30 days, cancelled automatically on passing; dxFeed adds $20/month. Daily, Spark and Merit: one-time payment. No refunds.
Zero, Standard and Advanced use a monthly Evaluation fee. Direct is one-time.
HFT and bots that trade without the trader are prohibited. Tools that assist the trader (hotkeys, DOM, alerts) are allowed.
VPN, VPS and proxy allowed; sessions are monitored and identity documents may be requested.
Opposite positions on the same asset across accounts, own or someone else's.
No minimum trade duration.
Tick or micro scalping is prohibited when trades repeatedly last less than 2 minutes and move less than 10 ticks. There is no universal minimum holding time.
Rotating through accounts, each risked in full on the same bet until one hits, is prohibited. Holding several accounts is allowed.
Reasonable DCA is allowed. Excessive order stacking or order-book spamming intended to exploit simulated fills is prohibited.
Allowed within a single account, also DCA. Prohibited across accounts.
Same direction across the trader's own accounts. Thor is included with TFeed.
Permitted only when one user copies trades across accounts held in that same person's name. Automated, group and reverse trading remain prohibited.
Including Tier 1 releases, at every stage.
- All Evaluation accounts: no news-trading restrictions
- Advanced Qualified: no news-trading restrictions
- Direct, Standard and Zero Qualified: no orders within 2 minutes before or 2 minutes after high-impact news
Pre-funded: one trade every 7 calendar days, otherwise the account closes without a payout. Live: 30 days, not applied mechanically. Challenges: none, except Spark (90 days).
10 trading days
Classic and Daily evaluations: best day up to 50% of total profit; exceeding it only delays passing. Spark funded: 30%. No rule on Classic and Daily funded, Spark evaluation or Merit.
- Zero: no Evaluation consistency rule; 40% on Qualified accounts
- Standard: 50% in Evaluation; 40% on Qualified accounts
- Advanced: 40% in Evaluation; none on Qualified accounts
- Direct: 20% between performance fee requests
Hedging between accounts, account rolling, martingale or loss recovery across accounts (also at other firms) and HFT or bots. On funded accounts: flipping and one-tick trading on bonds. Stop trading a contract within 2% of its CME daily price limit.
- All or Nothing Approach
- Order Book Spamming
- Tick or Micro Scalping
- Exploiting Absence of Slippage / Favorable Fills
- Multiple Limit Orders at Same Price
- Gambling Tendencies / Account Rolling (Account Stacking)
- Reverse Trading / Hedging
- Trading Illiquid or Gapped Markets for Isolated Fills
- Non-Compliance with CME Group Rules
- Group Trading (Collaborative Trading)
Positions must be closed before the session ends, at every stage including Live. Breach: funded account denied, or payout denied and account closed.
