Perps firms comparator

56 Alekou Konstantinou, Strovolos, 2024, Nicosia, Cyprus

Building A1, IFZA Business Park, Dubai Silicon Oasis, Dubai, United Arab Emirates

Revin Zabala

Jakub Zeliska

Cyprus

United Arab Emirates

2024

2023

Live Hyperliquid order book and market data

14-day money-back guarantee if you have not started trading and have not breached the terms. Not available for accounts migrated to another platform.

Challenge accounts qualify for a bonus equal to 200% of the entry fee after the third fully approved payout. It does not apply to Vanguard Instant Funding.

Bank transfer: $19.90 + 2.49%. Cryptocurrency: $19.90 + 30%. Returned payouts: $30 reprocessing fee.

Any day, weekends included, once the balance is at least 1% above the starting balance. No new profit is needed between requests.

Thunderbolt, Phoenix and Vanguard: on demand when all requirements are met. Horizon and Odyssey: every 14 days. Qualifying days with at least 0.5% realized profit before each payout: Vanguard 5 (6 on accounts bought before 26 October 2026), Horizon 3 to 5 and Odyssey 3 or 4 by size; Thunderbolt and Phoenix none. The counter resets after every payout.

Eligible payouts not processed within 24 business hours (Monday to Friday, 8 AM to 5 PM ET) are doubled. Doubling applies to payouts up to $1,000.

All markets trade 24/7, weekends included.

No cap per request: up to your full balance above the 1% threshold. No mandatory buffer.

Perpetuals use the same progressive payout-cap ladder as CFD accounts. The cap increases with each fully approved payout and is removed from payout #8 onward. Profit above the applicable cap is forfeited at the end of the segment.

$50 per request.

$45 after applying the selected profit split.

At least 1% realized profit (3% on Horizon and Odyssey) since account start or the previous payout; all positions closed; drawdown compliance; completed KYC and signed Trader Agreement.

EUR and JPY: 50:1. GBP: 25:1.

Forex perpetuals: up to 25:1

Gold: 10:1. Silver, platinum, copper and palladium: 5:1.

Gold and silver: up to 8:1. Copper: up to 5:1

WTI and Brent crude: 8:1. Natural gas: 3:1. Heating oil: 2:1.

WTI and Brent crude: up to 8:1

S&P 500 and XYZ 100: 20:1. Japan 225: 5:1. KOSPI 200: 2:1.

Index perpetuals: up to 10:1

AAPL, MSFT, EWY, AMZN and SMH: 5:1. NVDA, GOOGL and META: 4:1. TSLA, AMD, PLTR and other listed names: 3:1. Other stocks and ETFs: 2:1.

Stock and ETF perpetuals: up to 4:1

BTC and ETH: 8:1. SOL: 5:1. HYPE, XRP, BNB, DOGE and TRX: 3:1. Other crypto: 2:1.

BTC, ETH and SOL: up to 10:1. Other cryptocurrencies: up to 2:1

0.025% of position value, charged only when opening. Closing is free. Same on every instrument.

Crypto perpetuals: 0.015% maker / 0.045% taker. Stocks, ETFs, indices, commodities and forex: 0.003% maker / 0.009% taker. MSTR, PURRDAT and GOLD: 0.03% maker / 0.09% taker. No spread markup; $10 minimum order.

No swap: holding a position overnight costs nothing extra. The opening commission is the only trading cost.

Resets may be offered after a rule violation. A violation-related reset permanently caps future payouts on that account at 50% of the approved amount.

Eligible funded accounts can scale by 35% every four consecutive months, up to $4,000,000, after achieving 15% cumulative growth, at least two payouts and a profitable final cycle.

Static, measured from the starting balance, in the evaluation and until the first approved funded payout. That payout moves the floor to the starting balance, once and permanently. Touching it with balance or equity breaches the account.

Thunderbolt, Horizon and Odyssey: 6% trailing Dynamic Risk Shield that locks at the starting balance. Phoenix: 6% fixed maximum drawdown. Vanguard: 7% trailing maximum drawdown.

80% on the first four approved payouts, 85% on the fifth and 90% from the sixth. A rejected request does not advance it.

Thunderbolt, Phoenix and Vanguard: 90% standard; 80% or 100% can be chosen at checkout and change the price. Horizon and Odyssey: fixed 80%.

Hard breach, floating losses included. The allowance is a percentage of the starting balance, subtracted at each daily reset from the higher of closing balance or equity. The program rules set the reset at 22:00 UTC; the FAQ says 5 PM ET.

Thunderbolt and Horizon: 3%. Phoenix, Vanguard and Odyssey: 4%. Measured from the higher of equity or balance at 00:00 UTC.

Current Perpetuals accounts are sold up to $400,000. Total funded capital across all Upcomers programs cannot exceed $1,500,000. Eligible accounts can scale to $4,000,000.

Up to 5 accounts per order, within the $100,000 combined allocation across both programs.

No time limit.

Unlimited.

None.

Thunderbolt and Phoenix: no minimum to pass. Horizon: 2 days. Odyssey: 2 days per phase. Vanguard has no evaluation.

None.

Before each payout, days with at least 0.5% realized profit: Vanguard 5 (6 on accounts bought before 26 October 2026); Horizon 3 up to $50K, 4 up to $200K and 5 from $200K; Odyssey 3 below $100K and 4 from $100K. Thunderbolt and Phoenix: none.

Not available yet: API access for your own bots is announced as coming soon, under the same risk limits. Signal-copying services are excluded.

Allowed as long as no connection from a prohibited country is detected. Purchases and KYC through a VPN or VPS are prohibited.

Not explicitly prohibited, but strongly discouraged. VPN or VPS use during KYC/AML verification is prohibited.

Allowed within a single account. Opposite positions across accounts are prohibited.

Prohibited, even within a single account, and across accounts.

No minimum hold time.

Normal scalping is allowed. Tick scalping, HFT and latency exploitation are prohibited; trades repeatedly closed in under two minutes may be treated as tick scalping.

Martingale and layering allowed.

No lot size restrictions or margin rules.

Funded maximum loss per trade: 3% on Thunderbolt and Phoenix; 2% on Vanguard and Odyssey; 1.5% on Horizon. Positions on the same instrument and direction count as one trade. Exceeding it is a hard breach.

Allowed on every plan, including CPI, NFP and FOMC.

An account with no trading activity for 30 days is closed.

The account expires after 35 consecutive days without closing a trade. A warning is sent 7 days before expiration.

20% Best Day Rule at payout for Thunderbolt, Phoenix and Vanguard. It is a soft payout requirement and does not breach the account. Horizon and Odyssey: no consistency rule.

Positions can stay open overnight and through weekends.

All Perpetuals markets trade 24 hours a day, 7 days a week.

Exploiting pricing, platform errors or latency; insider information; front-running; third-party or off-the-shelf strategies marketed to pass challenges; passing with one strategy and using another on the funded account; arbitrage against other accounts or firms; hedging across accounts.

Platform or feed exploitation, tick scalping, high-frequency trading, latency trading, arbitrage, grid trading, martingale, one-sided or all-or-nothing bets, reverse or group hedging, external signal or challenge-passing services, account sharing and coordinated trading are prohibited.