Perps firms comparator

Craigmuir Chambers, Road Town, Tortola, VG 1110, British Virgin Islands

World Trade Center 200-B, Suite 306, Calle 53 Este, Marbella, Panama City

British Virgin Islands

Panama

2025

No broker: in-house perpetuals terminal. Prices come from external feeds, but every order fills inside its own simulation, which controls pricing, execution and slippage.

Bitunix for crypto perpetuals traded through the Fundex Terminal.

The fee and add-ons are non-refundable once the evaluation starts. Only if it cannot be activated due to a technical failure on their side, or if your local consumer law requires it.

Fees are non-refundable once the account is created and access is granted. If payment is taken but no account is delivered, Fundex reviews the case individually.

No cycle: from 14 days after your first rewards account trade, whenever you like. All positions must be closed before claiming, and only one claim can be active at a time.

On demand, with no fixed windows or waiting periods. Fundex states that most requests are processed within 60 minutes and all within a maximum of 24 hours, including weekends and public holidays.

No guarantee with compensation. They pay in USDC through a smart contract within minutes once the reserve is ready; if a claim is held for review, you get a time estimate.

No published cap: you claim your net closed profit.

No published maximum.

$30 per claim. The training mode page says $50.

$50

1:1 or 2:1, depending on the instrument.

5:1 on BTC and ETH; 2:1 on other cryptos.

Up to 4:1 on BTCUSDT and ETHUSDT; up to 2:1 on other cryptocurrencies, with some instruments limited to 1:1.

5:1 on SPY; 2:1 on SOXL and KORU.

Positions pay a 12% annual borrowing fee on every market, deducted from the net result.

No resets for sale. The Account Revival add-on revives the evaluation once.

• 90/10 Profit Split: +10% of the price; raises the split from 80% to 90%.
• Account Revival: +80% of the price; if you fail on drawdown, the evaluation is revived once with starting balance and stats.

A training mode promotion gives both free on your first evaluation.

No automatic scaling: to trade more capital you pass more evaluations.

• 1-Step: static on the starting balance; it never moves.
• 2-Step: measured from the highest equity the account reaches, rising with it.
• Rewards account: the same percentage as the plan you passed, static on the starting balance; payouts do not move the floor.

Equity with open positions counts. Hitting it closes positions and permanently closes the account.

• 2-Step Classic: Evaluation uses a 10% static maximum drawdown from the starting balance, measured on equity and reset when Phase 2 begins. Once funded, a 10% drop from the original balance while in B-Book causes a permanent breach.
• 2-Step Pro: 8% static maximum drawdown.

80%, or 90% with the 90/10 Profit Split add-on. The split is fixed when the rewards account opens.

2-Step Classic starts at a 70% trader profit split. 2-Step Pro starts at 80%. Fundex’s legal terms state that payments are discretionary bonuses rather than a fixed contractual split.

Free training mode with no expiry, on the same terminal and markets as the evaluation. No card needed.

A free $1,000 Test Account is available to eligible traders who do not currently hold a Fundex account. It uses Fundex Terminal only, with a 10% target, 5% daily drawdown, 10% maximum drawdown and 5 minimum trading days. Profits cannot be withdrawn and completion rewards may vary.

Evaluation: reaching the daily or total loss threshold causes a breach. Funded: permanent breach follows four consecutive unrecovered B-Book switches, or a 10% decline from the original balance while in B-Book.

Measured from equity at the 00:30 UTC daily reset. Hitting it closes positions and permanently closes the account.

Evaluation: 5%, recalculated at 00:00 UTC from the balance at that time and measured on equity. There is no daily loss limit at the funded stage.

Up to 5 rewards accounts at once, up to $50,000 each: $250,000.

One active evaluation at a time (or one order pending payment) and up to 5 rewards accounts. One user account per person.

Multiple evaluations and accounts are allowed. Total funded allocation is capped at $400,000.

Funded accounts can be merged provided their combined balance does not exceed the $400,000 maximum allocation.

No time limit.

No maximum time limit.

None: you can pass with a single trade.

• 2-Step Classic: 5 days in each evaluation phase. To count, at least one trade must be opened with a notional value of at least 5% of the account balance before leverage.
• 2-Step Pro: No minimum trading days.

None.

Bots and automation are forbidden unless pre-approved in writing, although the docs publish an API to trade the evaluation by code.

EAs and automated systems are allowed when the underlying strategy is the trader's own. Arbitrage, HFT, martingale, grid, environment-exploitation and external trade-replication systems are prohibited.

Using a VPN or proxy to hide your location is forbidden: account closure with no refund.

Hedging or arbitraging across Fundex accounts, or between Fundex and external accounts, is prohibited. The website does not clarify internal hedging within one account.

Tick scalping and holding positions under one minute on average are forbidden.

• 2-Step Classic: During evaluation, every trade must remain open for at least 3 minutes, including when TP or SL is triggered. The first violation generates a warning and later violations may cause a breach. There is no minimum holding time once funded.
• 2-Step Pro: No minimum holding time during evaluation or once funded.

Martingale, grid and averaging down to exploit drawdown limits are forbidden.

During both evaluation phases, a single trade cannot lose more than 3% of the balance, including floating losses. The first violation generates a warning. This limit does not apply once funded.

Copying trades from another account, signals or social trading platforms is forbidden.

Trading exclusively or mostly around major news to exploit spread widening is forbidden.

Evaluation: 30 consecutive days without logging in or open positions allow them to close the account. Rewards account: 30 days without a trade suspends it, and you ask support to reactivate it.

• High-frequency trading and latency arbitrage
• Statistical or correlation arbitrage
• Tick scalping and trades under one minute on average
• Grid, martingale and averaging down to exploit drawdown limits
• Trading exclusively or mostly around major news
• Exploiting pricing, data feed or platform errors
• Copy trading and group trading with other traders
• Manipulation, wash trading and front-running

• Latency arbitrage, spike catching and tick manipulation
• Exploiting errors, price-feed delays or technical malfunctions
• HFT inconsistent with realistic retail trading
• Martingale, grid and all-in betting
• Hedging or arbitrage across accounts or firms
• Copy trading, replicated signals and self-copy trading
• Front-running and use of non-public information
• Market manipulation, order spamming and toxic flow
• Materially changing strategy after passing the evaluation
• Gambling behaviour, overleveraging or correlated position stacking