Futures firms comparator

Sharjah, United Arab Emirates

Paris

Léon Grimm

Saint Lucia

France

2026

2023

No fixed fee published. Any processing or network fee is shown before you confirm; bank and network charges are paid by the trader.

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.

On demand, as soon as the conditions are met.

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.

No guaranteed time: the payout policy neither promises nor estimates one. Every request gets an automatic receipt and every payout a verifiable certificate.

Before the split. One Step 25K/50K/100K/150K: $1,000/$2,000/$2,500/$3,000 on the first payout and $1,500/$2,500/$3,000/$3,500 after. Instant: $1,000/$2,000/$3,000/$4,000 on every payout. The rest rolls into the next one.

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.

$500 before the split. Crypto payouts: at least $100.

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

Every position closed. Funded One Step: balance above the buffer plus 1% of the starting balance, 3 profitable days (+0.25%) and the 40% rule. Instant: a profit milestone before each payout ($1,450, $3,000, $5,000 or $8,000 on 25K, 50K, 100K or 150K), 5 profitable days and the 20% rule.

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.

One Step: after an evaluation breach, a restart within 14 days at the same price. Funded One Step: a reset within 14 days, at most twice and before the first payout. Instant: no reset; a new account at a reduced price is offered for 3 days.

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.

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.

One Step: end-of-day trailing, rising with the closing balance. Instant: intraday trailing on peak equity, open profit included. Both lock once they reach the starting balance. Touching it ends the account.

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.

90% on both plans.

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 Merit: 50% until the trader has withdrawn twice the starting balance, then 80%.

Soft limit: reaching it closes positions and stops trading until the next session; the account stays open. One Step 25K has none.

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

$1.5M per person across all CFD and futures accounts.

Funded One Step: a buffer equal to the max loss that stays on the account and is never paid out. Instant has none.

Classic and Daily: a locked buffer equal to the maximum drawdown stays in the account and is not withdrawable. Spark and Merit: none.

One user per person, with as many accounts as the $1.5M limit allows. Up to 5 accounts per order, with a 10% to 25% bundle discount.

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 time limit.

No deadline. Spark closes after 90 days without a trade. Merit: 30 calendar days.

No minimum in the evaluation: it can be passed in one day.

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

No activation fee.

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.

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

Before each payout: 3 days at +0.25% of the starting balance on funded One Step and 5 on Instant. The evaluation needs none.

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.

One-off fee. Includes 30 days of market data; then $35 per 30 days ($540 a month for professional subscribers).

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

No EAs or automated trading on futures.

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

Hiding your location with a VPN, proxy or remote desktop is prohibited and triggers a new identity check. Your own EA on a VPS is allowed if disclosed.

VPN, VPS and proxy allowed; sessions are monitored and identity documents may be requested.

Within one account, yes (mini against micro or different contracts). Prohibited across accounts.

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

Yes, but trades under 30 seconds may make at most 50% of profit; until it is back under, no pass or payout.

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 when used responsibly within the contract and loss limits; aggressive sequences are reviewed.

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

A cap on contracts open at once; exceeding it once is a warning, the second time goes to review.

Only between your own futures accounts or from your own master account. Copying others or signals is prohibited.

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

Free during the One Step evaluation. Funded and on Instant, no trade may be opened or closed 2 minutes either side of red USD news: profit from those trades is removed. Two warnings; the third goes to review.

Including Tier 1 releases, at every stage.

15 days without trading deactivates the account; an open position does not count.

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).

No day may exceed 40% of the cycle's profit on funded One Step (none in the evaluation) or 20% on Instant. Until met, the payout waits.

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.

Hedging across accounts, latency or cross-market arbitrage, account or device sharing, coordinated trading, copying others, market or order-queue manipulation, volume inflation, filler trades to count days, HFT, strategies that cannot work in a live market, gambling and account rolling, straddling tier-1 news and gap trading.

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.

Everything is closed at 3:55 PM Chicago time every session; it is not a breach.

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