Phoenix Trader Funding vs The5ers Futures at a glance

Paris

14 Haroshet st, Raanaa, Israel

Léon Grimm

Saul Lokier

France

Israel

2023

2016

Merit Live: Phoenix covers the processor fee on withdrawals above $500.

3.5% for Rise, cryptocurrencies and bank transfers. No fee when the payout is converted into Hub Credits.

Live Funded account at EdgeClear on Rithmic. Classic and Spark: after 4 payouts. Daily: once $1,200/$3,000/$6,000 has been paid (Seed/Starter/Growth). Merit: straight to Live on approval. Risk review required; if not passed, the pre-funded payout limit may be extended instead. Live amount: Classic $1,250/$2,000/$3,500; Spark $400/$1,000; Daily $500/$1,250/$2,000; Merit $2,000. Static drawdown, daily limit agreed with the trader, and every rule waived except overnight and over-week positions. Other funded accounts go dormant on transfer.

The5ers states that all activity is conducted in a simulated trading environment.

Classic: weekly, first payout after 5 trading days and then every 5. Spark: bi-weekly, first payout after 5 trading days. Daily: any trading day once profit matures (3 trading days; 5 for a day above 30% of total profit and above the tier's daily cap). Merit Live: any time, up to 10 per day. Processing: 2 to 3 business days.

First payout after 14 days; subsequent payouts every 14 days after the last approved withdrawal.

Per payout: Classic $600/$1,000/$2,000 (Starter/Growth/Scale); Spark $300/$400 (Seed/Starter). Daily: $200/$500/$1,000 per trading day (Seed/Starter/Growth), with $1,000 per day per trader across all Daily accounts. Merit Live: no maximum. PayPal: $2,000 per month.

25K: $1,250. 50K: payouts 1–4 are capped at $1,500 / $2,000 / $2,500 / $3,000; later payouts remain capped at $3,000. 100K and 150K: 3% of the current balance.

Classic and Daily: $75. Spark: $30 (Seed) or $75 (Starter). Merit Live: $1.

A payout can be requested after reaching at least 4% profit over the initial account balance.

After passing: review of up to 72 hours, then KYC and Pre-Funded contract within 48 hours. The trailing drawdown locks at the starting balance on the first payout. Every denied payout comes with a written reason from the risk team. No crypto payouts.

The funded account must be at least 14 days old and have reached at least 4% profit. The 14-day cycle restarts after scaling.

Approved withdrawals are normally processed within 3 business days.

Per contract and side on TFeed; dxFeed is double. ES, NQ, RTY and YM $1.09; MES, MNQ, M2K and MYM $0.35; CL $1.15; MCL $0.43; GC $1.20; MGC $0.43; NG $1.20; 6E $1.20; ZN $0.80; ZB $0.83; BTC $3.38; MBT $1.38. Same rates on every line, in evaluation and funded.

Standard futures: $5 per side. Micro futures: $2.50 per side.

Classic, Daily and Spark: unlimited, by paying the fee or with reset coupons (one per month the challenge stays alive; they stack and never expire). Classic: a failed account is reset free at renewal. Merit: no reset.

Performance Review (+20% on the price): 20 to 30 page report on the trader's own trades. Free ATAS licence with dxFeed.

Scaling beyond the Classic plan on request, after a full review of the trades.

At every approved 10% profit milestone, buying power increases by 5%, up to $500,000.

Classic and Daily: end-of-day trailing in evaluation and funded. Spark: end-of-day trailing in evaluation and real-time trailing once funded. The trailing drawdown locks at the starting balance. Merit: static, the whole $2,000 balance. Live: static.

4% EOD trailing drawdown, calculated from the highest midnight balance or equity. After a payout, it resets to 4% below the new balance.

Classic and Spark: 90%. Daily: 80%. Merit: 50% until the trader has withdrawn twice the starting balance, then 80%.

80% for the trader across all funded accounts.

Classic, Daily and Spark: none. Merit: 25% dynamic (soft breach). Live: agreed with each trader based on their results.

Classic and Daily: a locked buffer equal to the maximum drawdown stays in the account and is not withdrawable. Spark and Merit: none.

Unlimited challenges. Pre-funded: 5 on TFeed (up to 3 Spark, 3 Daily, 3 Classic Growth or Scale and 5 Classic Starter) and 3 on dxFeed. Live: up to 5, at Phoenix's discretion. Merit: one attempt; another requires buying a Classic or Daily account first.

No deadline. Spark closes after 90 days without a trade. Merit: 30 calendar days.

No time limit. At least one trade must be placed every 14 days.

Classic and Daily: 2. Spark: 1. Merit: none; the challenge lasts 30 calendar days.

The evaluation can be passed in one trading day while respecting the consistency rule.

No monthly fee on funded accounts. Activation: $29 one-time on Spark; $0 on Classic, Daily and Merit. Live: CME professional data at $135/month per exchange, deducted from the account.

No monthly fee. The current program catalogue shows no activation fee.

Phoenix Extra: PHX earned for ideas and ambassador work, usable on accounts, resets and activation fees. Not convertible to cash.

Classic: 5 days between payouts with at least $100/$200/$300 profit (Starter/Growth/Scale). Spark: 5 days with at least $40 (Seed) or $100 (Starter). Daily and Merit: none.

Classic: the contract limit rises with profit at $1,000, $2,000 and $4,000 up to the account maximum, in evaluation and funded, and drops if profit falls back. Spark, Daily and Merit: full size from day one. Live: one extra mini per $2,000 of profit.

Every approved 10% profit milestone adds 1 mini and 10 micro contracts.

Classic: monthly subscription every 30 days, cancelled automatically on passing; dxFeed adds $20/month. Daily, Spark and Merit: one-time payment. No refunds.

One-time evaluation fee with no monthly subscription.

HFT and bots that trade without the trader are prohibited. Tools that assist the trader (hotkeys, DOM, alerts) are allowed.

Algorithmic and high-frequency trading are prohibited.

VPN, VPS and proxy allowed; sessions are monitored and identity documents may be requested.

Opposite positions on the same asset across accounts, own or someone else's.

No minimum trade duration.

Rotating through accounts, each risked in full on the same bet until one hits, is prohibited. Holding several accounts is allowed.

Allowed within a single account, also DCA. Prohibited across accounts.

Same direction across the trader's own accounts. Thor is included with TFeed.

Only between the trader's own 25K and 50K accounts, with a combined maximum allocation of $75,000.

Including Tier 1 releases, at every stage.

Pre-funded: one trade every 7 calendar days, otherwise the account closes without a payout. Live: 30 days, not applied mechanically. Challenges: none, except Spark (90 days).

At least one trade must be placed every 14 days.

Classic and Daily evaluations: best day up to 50% of total profit; exceeding it only delays passing. Spark funded: 30%. No rule on Classic and Daily funded, Spark evaluation or Merit.

40% per-position consistency rule during evaluation and funded stages. It is calculated using accumulated profitable trades; losing trades are not deducted.

Hedging between accounts, account rolling, martingale or loss recovery across accounts (also at other firms) and HFT or bots. On funded accounts: flipping and one-tick trading on bonds. Stop trading a contract within 2% of its CME daily price limit.

High-frequency trading, algorithmic trading and hedging.

Positions must be closed before the session ends, at every stage including Live. Breach: funded account denied, or payout denied and account closed.

Day Trade does not allow overnight positions. Swing allows limited overnight exposure: 1 mini/10 micros on 25K and 50K, 2/20 on 100K and 3/30 on 150K.