Futures firms comparator

Paris

2nd Floor, 412 S. Wells, Chicago, Illinois 60607, United States

Léon Grimm

James Thorpe

France

United States

2023

2020

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

• US Wire Transfer: Free
• International Wire Transfer: $15/withdrawal
• Crypto L1: $2.5/withdrawal + estimated gas fees
• Crypto L2: Free

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.

Funded Live Access
Up to 5 active Funded Live accounts per trader.
90% profit split on Funded Live.
Clear position scaling rules and structured account transition.

No Activation Fee
TradeDay 2.0 removes the activation fee that existed in the previous model.

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.

Day-one payouts on Quick Pay (no buffer). Requests submitted before 17:30 CT processed within 24 hours on business days. No frequency limit.

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.

Fast Pass Funded Sim maximum per request: $1,500 (50K), $1,875 (100K), $2,250 (150K).

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

$250 minimum per payout request.

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.

Available on current plans. See challenges for reset price.

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.

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.

Two drawdown types available, both Trailing Maximum Drawdown:

Intraday TMD
Calculated in real time from unrealized profits during the session.

End of Day TMD
Calculated from realized profits at end of day (16:00 CT close). Follows account growth until frozen at the initial balance.

Funded Sim drawdown type matches the evaluation type purchased.

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 Merit: 50% until the trader has withdrawn twice the starting balance, then 80%.

Quick Pay Funded Sim

• 80% trader / 20% TradeDay above $4,000 gross profit
• 50% trader / 50% TradeDay below $4,000 gross profit
• Split evaluated per account

Fast Pass Funded Sim

• 80% trader / 20% TradeDay

Funded Live

• 90% trader / 10% TradeDay

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

Up to 10 Evaluation accounts and 5 Funded Sim accounts simultaneously per trader. Up to 5 active Funded Live accounts per trader. Multiple Funded Sim accounts allowed. Single-member US LLC allowed. Multi-member LLC, S-corps and C-corps not allowed.

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.

• Quick Pay: 5 trading days minimum (non-consecutive).
• Fast Pass: no minimum trading days.

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 TradeDay 2.0.

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.

Fast Pass Funded Sim: 5 profitable days per payout; $150/$200/$250 minimum daily profit on 50K/100K/150K.

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.

Fast Pass Funded Sim starts at 2/3/4 contracts for 50K/100K/150K, then adds one contract per $2,000 of EOD profit. Quick Pay limits are fixed by account size.

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

Monthly subscription. See challenges for current list prices and promotions for active discounts.

HFT and bots that trade without the trader are prohibited. Tools that assist the trader (hotkeys, DOM, alerts) are allowed.

Allowed if using supported platforms: NinjaTrader, Tradovate, Tradingview, Jigsaw, Quantower. TradeDay does NOT expose Tradovate API. Own systems allowed (NOT purchased from third parties). If multiple users make same trades: All accounts closed.

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.

Scalping allowed EXCEPT: High-frequency ATS, >200 trades per day, trades in few seconds for 1-2 ticks, playing with sim matching engine.

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.

Allowed from a trader's own account into their TradeDay account, and between two of the trader's own TradeDay Funded Sim accounts. NOT allowed between Funded Live and Funded Sim, and NOT allowed between two different users. Compatible third-party tools: Tradesyncer (TDTC), Flowbots (tradeday), Expert Trading Programmers (TradeDay25OFF).

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).

TradeDay does not charge inactivity fees. However, Tradovate archives the account after 1 month without login.

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.

Quick Pay: 30% consistency in evaluation. Fast Pass: 45% consistency in evaluation and Funded Sim. Funded Live has no consistency rule.

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.

• Using bots/ATS purchased from third parties
• Systems generating >200 trades in a day
• Strategies trading in few seconds to capture only a few ticks
• Attempting to capture queue position advantage by playing with sim engine
• Spoofing and layering (per CME Group rules)
• Order splitting (multiple limit orders at same price simultaneously)
• Trading in illiquid markets to benefit from missed fills
• Exploiting lack of slippage in simulation (e.g., bracket orders in data releases)
• Trading outside best bid/offer
• Using external or slow data feed
• High-frequency trading or short-term trading
• Simultaneous opposite positions between accounts
• Multiple registrations with different names/emails
• Using VPN or VPS to mask location
• Hedging: Prohibited (trading long in one account and short in another for same product)
• Trading within 2% of price limit (Funded Live only, loss of account)
• Microscalping (positions held <5-10 seconds dominating profit)
• Trading Tier 1 news/data releases (2 min before/after, auto-liquidation)

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