Perps firms comparator

Delaware, United States

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

Jakub Zeliska

United States

United Arab Emirates

2026

2023

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

Live Hyperliquid order book and market data

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

Challenge accounts qualify for a bonus equal to 200% of the entry fee after the third fully approved payout. It does not apply to instant funding accounts (Vanguard and Oracle).

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.

Thunderbolt, Phoenix, Vanguard and Oracle: 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), Oracle 5, Horizon 3 to 5 and Odyssey 3 or 4 by size; Thunderbolt and Phoenix none. The counter resets after every payout.

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.

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.

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

$45 after applying the selected profit split.

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

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

Forex perpetuals: up to 25:1

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

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

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

WTI and Brent crude: up to 8:1

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

Index perpetuals: up to 10:1

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

Stock and ETF perpetuals: up to 4:1

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

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

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.

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.

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%.

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

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.

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.

Thunderbolt, Horizon and Odyssey: 6% trailing Dynamic Risk Shield that locks at the starting balance. Phoenix: 6% fixed maximum drawdown. Vanguard: 8% trailing maximum drawdown (7% on accounts bought before 2 November 2026). Oracle: 5% trailing maximum drawdown.

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

Thunderbolt, Phoenix, Vanguard and Oracle: 80% base split; 90% (checkout default) or 100% can be chosen for a higher price. Horizon and Odyssey: fixed 80%.

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

Thunderbolt and Horizon: 3%. Phoenix, Vanguard, Oracle 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.

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.

Unlimited.

None.

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

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.

Before each payout, days with at least 0.5% realized profit: Vanguard 5 (6 on accounts bought before 26 October 2026); Oracle 5; 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.

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.

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.

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

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

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

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

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.

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.

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

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.

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, Vanguard and Oracle. It is a soft payout requirement and does not breach the account. Horizon and Odyssey: no consistency rule.

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

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

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.

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.