Futures firms comparator

Paris

30 N Gould St STE 4000, Sheridan, WY 82801

Léon Grimm

Osvaldo Guimarães

France

United States

2023

2016

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.

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.

On Demand and processed on Wednesday

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.

LiveSim® Gauntlet Mini™

• Max Withdrawal: $4,000 (Requires $5,000 in total profit).
• Profit Split: The firm takes a 20% share (deducted monthly or at each withdrawal).

LiveSim® Trader Career Path®

• Max Withdrawal: The program's profit target minus 20%.
• Deductions: No monthly deductions; the 20% is only taken from the target amount.

Classic and Daily: $75. Spark: $30 (Seed) or $75 (Starter). Merit Live: $1.

$100

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.

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.

Variable Pricing ($25K–$50K Accounts)

Reset fees for these entry-level accounts fluctuate according to current promotions and are consistently priced lower than a brand-new subscription:

• TCP25 (Trader Career Path® 25K)
• TCP50 (Trader Career Path® 50K)
• GAU50 (Gauntlet Mini™ 50K)

Fixed Pricing ($100K–$200K Accounts)

Reset fees for these higher-balance accounts remain constant and are not affected by promotional offers:

• TCP100 (Trader Career Path® 100K) – $100
• GAU100 (Gauntlet Mini™ 100K) – $100
• GAU150 (Gauntlet Mini™ 150K) – $130
• GAU200 (Gauntlet Mini™ 200K) – $155

A complimentary free reset is added after each monthly renewal of your subscription. You can use these free resets at any time while your subscription is active, accumulate more than one, but any unused resets will be forfeited if you cancel.

Performance Review (+20% on the price): 20 to 30 page report on the trader's own trades. Free ATAS licence with dxFeed.

Scaling beyond the Classic plan on request, after a full review of the trades.

Scaling only allowed for Trader Career Path

TCP25

TCP50

TCP100

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.

• Evaluation and LiveSim: EOD (End Of Day balance)
• Live: Trailing

Classic and Spark: 90%. Daily: 80%. Merit: 50% until the trader has withdrawn twice the starting balance, then 80%.

• $25K–$200K accounts: 80/20 if the profit reaches or exceeds the threshold set for the account size; 50/50 if it is below the threshold.
• Trader Career Path® $400K accounts: fixed 60/40.

Classic, Daily and Spark: none. Merit: 25% dynamic (soft breach). Live: agreed with each trader based on their results.

Both Trading Path Career and Gauntlet Mini have daily drawdown limits. On the funded phase, daily drawdown can be removed upon request after the lower threshold of the trader's maximum drawdown reaches the account's starting balance.

Maximum of 3 funded accounts. Only one of them can be LiveSim

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.

Unlimited

Classic and Daily: 2. Spark: 1. Merit: none; the challenge lasts 30 calendar days.

None. No minimum trading days are required to pass the evaluation, nor on LiveSim®/Live funded accounts.

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.

Montly fee and Lifetime activation fee

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.

No minimum trading days on either Trader Career Path® or The Gauntlet Mini™. The evaluation can be passed as soon as the profit goal is reached.

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.

TCP25

TCP50

TCP100

Virtual Accounts Scaling

Classic: monthly subscription every 30 days, cancelled automatically on passing; dxFeed adds $20/month. Daily, Spark and Merit: one-time payment. No refunds.

Montly fee

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.

Not recommended

Opposite positions on the same asset across accounts, own or someone else's.

No minimum trade duration.

Rotating through accounts, each risked in full on the same bet until one hits, is prohibited. Holding several accounts is allowed.

Allowed within a single account, also DCA. Prohibited across accounts.

Same direction across the trader's own accounts. Thor is included with TFeed.

Including Tier 1 releases, at every stage.

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).

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.

Evaluation phase: In order to complete the evaluation, no single trading day can account for 30% or more of your total PnL.

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.

• Exploiting platform errors.
• Disruptive trading or spoofing.
• Excessive daily contracts.
• Collusion and manipulation.
• AI or high-speed abuse.
• Unrealistic market behavior.
• Exploiting technical flaws.
• Bypassing restrictions.
• Trading for others.

Positions must be closed before the session ends, at every stage including Live. Breach: funded account denied, or payout denied and account closed.