Perps firms comparator
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Full comparisonforTraders Perps vs Klein FundingThe written analysis: where each one wins, who each fits best and FAQs.Read the comparison 51 differences
Goldcrest Executive Building, Office No. 1210, JLT, Cluster C, Dubai, United Arab Emirates
Tbilisi, Samgori District, Besarion Chichinadze Street 12, Apartment No. 55, Georgia
Jakub Rož
Kutay Aktaş
United Arab Emirates
Georgia
2023
2024
No broker: prices come from Hyperliquid or Binance, whichever has more liquidity for each market.
- Crypto ($100 to $399): $25
- Rise ($400 or more): $50
On demand from the first day on the Master account, with positions closed. First reward after 1% profit on the initial balance; then 2% growth on the remaining balance between rewards.
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.
48 hours: if not paid within 48h, 100% profit split
4-24 hours (usually within 4 hours)
Every market trades 24/7, weekends included: indices, gold and oil too.
$10,000 per reward.
$100 to withdraw from the For Traders wallet.
Gold: 20:1 in the help center, 10:1 in the instruments list. Silver, platinum, palladium and copper: 5:1.
WTI and Brent: 8:1. Natural gas: 5:1.
NAS100 and SP500: 12:1. JP225: 5:1.
NVDA, AAPL, MSFT, AMZN, META and GOOGL: 4:1. MSTR, COIN, CRCL, CRWV and BMNR: 2:1. Other stocks: 3:1.
BTC: 10:1. ETH: 8:1. BNB and SOL: 5:1. HYPE, DOGE, XRP, TRX and LIT: 3:1. Other crypto: 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.
Fixed daily fee on position value, charged hourly and equal for longs and shorts: crypto 0.03%, forex 0.005%, other markets 0.015%.
Crypto markets are swap-free by nature.
Instant Pro only: make 10% profit on account balance, forfeit 50% of your profit share, and your account size doubles. Scaling up to $2M.
Static, measured from the initial balance, in the challenge and on the Master account. After the first reward the floor locks at the initial balance for good. Hard breach.
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%.
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.
Hard breach, open positions included. A fixed share of the initial balance, subtracted at 00:00 server time (CET/CEST) from the higher of balance or equity.
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 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.
None.
EAs allowed only as decision-support tools (alerts, partial management, predefined rules). Fully autonomous trading bots are prohibited.
Cross-account hedging (opposing positions on the same instrument across accounts) is forbidden.
Manual scalping allowed with a minimum 5-second hold per trade. Tick scalping and HFT are forbidden.
All trades must be held for more than 50 seconds. Tick scalping is prohibited.
Martingale strategies (doubling position size after losses) are classified as gambling and forbidden.
Outbound copy trading (from your For Traders account to external accounts) is allowed. Inbound copy trading from external sources is strictly forbidden.
Free in the challenge. On the Master account, no new positions from 5 minutes before to 5 minutes after high-impact news; open positions can stay. Breaking it is a soft breach: those profits may be deducted.
Close at least one position every 7 days, in the challenge and on the Master account. Breaking it is a hard breach.
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.
Positions can stay open overnight and over the weekend.
- Arbitrage (latency, reverse, statistical)
- HFT (High Frequency Trading)
- Grid trading
- Tick scalping
- Fully autonomous bots/EAs
- Cross-account hedging
- Gambling behaviors (overleveraging, all-in trades > 70% of profit target)
- Martingale
- Inbound copy trading and signal services
- Group/signal trading from Telegram, Discord etc.
- 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

















