Time limits
You cannot take forever to stay inactive at Upcomers Perpetuals; if you do not close a trade within 35 consecutive days, your account will be terminated. This forces you to engage with the market even when conditions are not favorable. Furthermore, if you choose the Vanguard Instant Funding plan, you are prohibited from withdrawing whenever you want: you must first complete 6 qualifying days, each with at least 0.5% realized profit, before every single payout. Propr is less restrictive regarding time, as it imposes no minimum or maximum trading days, meaning you aren't pressured by the calendar, though you are still bound by the lack of a reset option if you fail.
Weekends and news
At neither firm will you be able to trade traditional markets when they are closed, but both allow you to hold positions over the weekend. However, you are limited by the volatility of crypto markets which never sleep. While news trading is permitted at both, you cannot escape the risk of slippage in these high-volatility environments. At Propr, you are specifically restricted from using external accounts (CEX/DEX) to hedge and eliminate risk, preventing you from using certain market-neutral strategies.
Where you can trade from
Your physical location is a significant barrier. You cannot access Propr if you reside in a long list of countries, including Bangladesh, Belarus, Russia, Venezuela, or Pakistan. Upcomers Perpetuals also excludes residents from Russia, Venezuela, and several others like Afghanistan or Kosovo. Regarding privacy, you cannot hide behind a VPN to bypass geographic restrictions at either firm; your KYC must match your actual residence. Upcomers goes further by explicitly prohibiting VPN or VPS use during the KYC/AML process, which might be a hurdle if your local connection is unstable.
What the platform limits
You are restricted to proprietary environments at both firms. You cannot use MetaTrader 4 or 5; instead, you are forced to use their web-based terminals powered by Hyperliquid. This means you cannot use any custom indicators or tools built for the MT4/MT5 ecosystem.
- Style restrictions: At Upcomers, you cannot use EAs (Expert Advisors) at all. You are also prohibited from "tick scalping" or high-frequency trading; if you repeatedly close trades in under two minutes, they may be forfeited.
- Automation at Propr: While Propr allows bots, you are restricted from using identical bots to other users, as this is flagged as "coordinated trading," which can lead to account closure.
- Instrument limits: You cannot trade without paying commissions, and at Upcomers, you are limited by a $10 minimum order size.
What the rules cost you
The financial cost of these rules limits how many attempts you can afford. A $100,000 evaluation at Upcomers (Phoenix) costs $999, while at Propr (Classic 2-Step) it costs $749, meaning Upcomers limits your participation more through higher entry barriers.
- Risk margins: You cannot lose more than 3% to 3.5% in a single day at either firm. At Propr, the 2-Step drawdown is particularly restrictive because it trails your highest equity, including floating profit, meaning your "floor" rises as your open trades go into profit.
- Payout barriers: At Upcomers, you cannot withdraw all your profit immediately. They use a progressive payout cap ladder; you are restricted by these limits until your 8th payout. Most importantly, Upcomers imposes a massive fee for cryptocurrency withdrawals: $19.90 plus 30% of the amount, which significantly drains your earnings. Propr, by contrast, has no withdrawal fees but requires a minimum of 20 USDC.
Restrictions that add up
The combined effect of these rules creates a narrow path to success. At Propr, the combination of a trailing drawdown on floating equity and a proprietary terminal means you must manage risk on unrealized gains constantly, or the "floor" will catch you. At Upcomers Perpetuals, the ban on EAs, the 2% maximum risk per trade rule, and the 20% "Best Day" consistency rule create a system where you are forced to trade manually, with limited risk, and with a high degree of performance consistency, all while facing significant costs to actually get your money out via crypto.
Frequently asked questions
Which firm is more expensive to start a $100,000 challenge, Propr or Upcomers Perpetuals?
Upcomers Perpetuals is more expensive for a standard two-step evaluation. Their $100,000 "Phoenix Classic" account costs $999, whereas the Propr "Classic 2-Step" for the same capital is priced at $749. This means that at Upcomers, the initial barrier to entry is $250 higher for the same starting balance.
Who allows the use of Expert Advisors (EAs), Propr or Upcomers Perpetuals?
Propr allows the use of bots and agents, although they impose restrictions against "coordinated trading" (using the same bot as others without customization). Upcomers Perpetuals, on the other hand, explicitly prohibits the use of EAs entirely, forcing all traders to execute their strategies manually.
Which firm has more restrictive withdrawal fees for crypto, Propr or Upcomers Perpetuals?
Upcomers Perpetuals is significantly more restrictive and expensive. They charge a fee of $19.90 plus 30% for cryptocurrency withdrawals. In contrast, Propr does not charge any withdrawal fees, requiring only a minimum withdrawal amount of 20 USDC, making it much easier to keep the profit you earn.
Between Propr and Upcomers Perpetuals, which one has an inactivity rule?
Upcomers Perpetuals has a strict inactivity rule where the account expires after 35 consecutive days without closing a trade. Propr does not list a specific inactivity expiration in its rules, allowing for more flexibility if a trader needs to step away from the markets for more than a month.
