Futures firms comparator

Paris

Heiligkreuz 6, 9490, Vaduz, Liechtenstein

Léon Grimm

Daniela Egli

France

Liechtenstein

2023

2022

Merit Live: Phoenix covers the processor fee on withdrawals above $500.

No payout fee

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.

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.

Up to 50% of the current profit buffer per reward, capped at $2,500 ($50K), $3,500 ($100K) or $5,000 ($150K).

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.

First reward: 5 winning days of at least $200 each. Later rewards: at least $0.01 net profit since the previous reward and 5 new $200 winning days.

Within 24 hours on business days

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.

Available for Futures Challenges with at least one trading day remaining; unavailable on Earning accounts.

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

Optional Level 2 market data is available. Challenge Extend costs $99 / $189 / $289 by account size.

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

Buying power scales from end-of-day profit and is adjusted daily at 16:00 CT.

After passing the Challenge the account moves through a level ladder. Each level has its own profit target and drawdown limit; reaching the target unlocks a payout and promotes the account to the next level, with more capital, more drawdown flexibility and a higher profit share. Smaller accounts run through around 10 levels.

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.

Trailing on end-of-day balance. It stops at the starting balance and never moves down.

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 Merit: 50% until the trader has withdrawn twice the starting balance, then 80%.

80%

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

Daily Pause is recalculated from the previous day's closing balance at 16:15 CT. It closes positions and pauses trading until the next day.

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.

30 days (includes weekends and holidays)

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

3 unique trading days to pass.

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 for new Futures Prime accounts purchased from 26 March 2026.

Phoenix Extra: PHX earned for ideas and ambassador work, usable on accounts, resets and activation fees. Not convertible to cash.

Respect Points Program (Affiliate)
10% commission on each referred trader turns into points for the original trader. Points accumulate per challenge purchased via your affiliate link.

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.

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 contract limit grows with each level of the ladder. An account that starts at 10 micros can reach 50 micros; larger accounts scale up to 50 standard contracts.

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

One-time fee; no subscription.

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.

VPN is allowed for individual traders, provided it is not used to mask shared access or coordinated activity between accounts. Multiple accounts accessed from the same IP / network is prohibited.

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

Hedging within the same account is allowed for risk-management purposes, provided no Hedging Arbitrage is involved. Hedging between two accounts (BUY on one + SELL on the other) is prohibited.

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.

Copy trading is allowed up to 5 accounts (manual or automated). If you copy the same strategy to more than 5 accounts, we reserve the right to deny upgrades of additional accounts. You may only copy from external accounts that are yours (not from other traders). Copying between your Futures Challenges and Futures Earning accounts is prohibited.

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).

21 consecutive days without placing a single trade → the account is considered inactive and breached. Holding an overnight position or having an unexecuted pending order does NOT count as activity. The countdown starts when the account is purchased/created.

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.

40% Consistency Rule (Futures Prime Challenge only). Single-day profit may not exceed 40% of the profit target. Any excess is added to the new profit target. The rule does not apply to Earning accounts.

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.

• High-frequency, latency, reverse, hedge-arbitrage or arbitrage trading
• Grid, martingale, gambling or account rolling
• Gap trading before extended market closures
• Copying between Challenge and Earning accounts
• Emulators, unauthorized feeds or exploiting fills

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