Perps firms comparator

Delaware, United States

Tbilisi, Samgori District, Besarion Chichinadze Street 12, Apartment No. 55, Georgia

Kutay Aktaş

United States

Georgia

2026

2024

Simulated execution with real market data from Hyperliquid, Binance, Bybit, Lighter, Ostium and Veranta

The fee is not refunded with payouts. An unused challenge can be refunded within 48 hours of purchase, minus a $25 fee.

Select, Prime and Signature: one request per New York calendar day. Elite: on demand. Requests need all positions closed, are reviewed manually and lock trading while pending.

Bybit Instant Pro & Cleo challenges: Daily on-demand withdrawals. Payouts processed in 4-24 hours (usually within 4 hours).

Bybit One Step & Two Step: Every 3-4 days due to Stability Rule.

Crypto trades 24/7, weekends included.

$100,000 lifetime cap across all accounts, counted after the split. Once reached you cannot buy new accounts, but active funded accounts keep paying out.

Select, Prime and Signature: $100 of gross profit. Elite: $50, $100, $250 or $500 depending on size.

4-24 hours (usually within 4 hours)

EUR/USD and USD/JPY 50:1; GBP/USD and AUD/USD 25:1

Gold 10:1; silver, platinum, palladium and copper 5:1. Elite: gold 20:1

WTI and Brent 8:1; natural gas 5:1. Elite: oil 10:1

SP500, NAS100 and US30 12:1; JP225, QQQ and others 5:1. Elite: NAS100 and SP500 40:1, US30 25:1

From 2:1 to 5:1 depending on the stock

BTC 10:1, ETH 8:1, SOL 5:1, BNB 3:1; most altcoins 2:1

Bybit challenges (One Step, Two Step, Instant Pro): Up to 1:100 for most tradeable coins on Bybit.

Cleo challenges (One Step, Flex): BTC and ETH up to 1:5, all other assets up to 1:2.

Per fill, same for maker and taker: crypto 0.03%, stocks, indices and commodities 0.005%, forex 0.0025%. Elite: 0.001% on NAS100, SP500, gold and WTI. Liquidations add a 0.1% penalty.

Fixed daily swap charged every hour on longs and shorts, instead of venue funding: crypto 0.03%, stocks, indices and commodities 0.015%, forex 0.005%.

Crypto markets are swap-free by nature.

No resets. After a breach you need to buy a new challenge.

90% split: +20% of the price, only at checkout. Reduced Fee: halves commission and swap for 10% of the fee (min $10); not on Elite.

Static, measured on equity, never trails. Select, Prime and Signature: the first payout locks the floor at the starting balance. Elite: the floor never moves.

Bybit challenges (One Step, Two Step)
Static drawdown calculated from initial balance. Customizable from 6% to 10%.

Bybit Instant Pro
Two drawdown types available (3-8%):

• Smart Drawdown (6%): Trails upward with equity gains. Once account reaches +3% profit, drawdown locks permanently at -3% of starting balance.
• Trailing Drawdown (8%): Trails the High Water Mark (highest of balance or equity). After first payout, resets to 4% trailing from the new balance.

Cleo challenges (One Step, Flex)
Static drawdown calculated from initial balance. Customizable from 3% to 8%. One Step: 5% default. Flex: 3% default.

80%. 90% with the checkout add-on.

Bybit challenges (One Step, Two Step, Instant Pro): Customizable from 60% to 90% depending on the plan selected.

Cleo challenges (One Step, Flex): Customizable from 60% to 90% depending on the plan selected.

3% of the starting balance, from start-of-day equity including open positions. Resets at midnight New York time. Elite No DLL has none.

Bybit challenges: Daily maximum loss is half of the total loss limit. Calculated from starting balance at 12:05 AM UTC and does not change during the day until next daily reset.

Cleo challenges: Daily drawdown varies by selected plan and configuration (3-4%).

No limit on purchases. Up to $100K in active evaluations and $100K funded per plan, and $300K funded in total. Elite No DLL: up to $250K bought in any rolling 7 days.

No time limit.

No time limit. Trade at your own pace.

None.

Bybit challenges (One Step, Two Step): 3-4 minimum trading days due to Stability Rule.

Bybit Instant Pro: 3 trading days with at least 0.5% profit each (for payout eligibility).

Cleo challenges (One Step, Flex): No minimum trading days required. Pass the challenge at your own pace.

FP Points from purchases and tasks, redeemable for reward cases; they expire after 90 days. Payouts taken as store credit get +5%; store credit expires after 45 days.

Free trading competitions with funded accounts and reward cases as prizes.

None.

Instant Pro only: make 10% profit on account balance, forfeit 50% of your profit share, and your account size doubles. Scaling up to $2M.

Only through the official API (REST, WebSocket or MCP). Automation cannot be used for HFT or any other banned strategy.

Not to hide your identity or location or to bypass restrictions. Access through VPNs, datacenter IPs or remote desktops may be reviewed.

Hedging across accounts is banned. Each account can hold an instrument on only one venue at a time.

No minimum holding time. High-frequency trading is banned; up to 30 orders per minute and 250 per hour, half a second apart.

All trades must be held for more than 50 seconds. Tick scalping is prohibited.

Exposure cap per market, shared by your accounts of the same plan and size (Elite: per account, up to 40x the balance in total). Up to 15 open positions and 20 pending orders; minimum order $10.

Built-in copy trading only between your own challenge accounts. Sharing accounts or copying other traders is banned.

Free in the evaluation. Funded: no new exposure from 10 to 2 minutes before high-impact news, and no manual trades from 2 minutes before to 2 minutes after. Stock earnings count too.

Evaluation: at least one trade every 30 days. Funded: at least one trade every 7 days.

Bybit API access period is 90 days. Reminder emails are sent starting 10 days before expiration. If not renewed within that period, the account will be restricted and cannot be reactivated.

Stability Score (Bybit challenges only): No single trading day's profit can be equal to or greater than the stability threshold of total profits.

• Bybit Two Step: 45% stability score
• Bybit One Step: 30% stability score
• Bybit Instant Pro: No stability score

Cleo challenges (One Step, Flex): No Stability Rule.

Violating the rule does not breach the account. The trader must continue trading until the best day's profit falls below the threshold.

Yes on 24/7 markets such as crypto. On 23/5 markets, positions are closed automatically 15 minutes before Friday's close.

Cross-account hedging; group or coordinated trading; sacrificial accounts and account cycling; all-or-nothing evaluation gambling; high-frequency trading; latency arbitrage; trading stale or wrong prices; exploiting execution, platform bugs or loopholes; spoofing, layering, wash trading and quote stuffing; risk-free setups; account sharing or passing services.

• Arbitrage trading
• Latency trading
• High-frequency trading (HFT)
• Hedging between accounts
• Tick scalping
• Holding trades less than 50 seconds
• Spamming the order book
• Group trading
• Exploiting the demo environment
• Expert Advisors (EAs) and automated trading systems
• Copy trading (even between own accounts)
• Front-running price feeds
• Exploiting unrealistic prices or mispricing