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Halcyon Trader Funding
42% off
- Country
- United States
- Founded
- 2024
- Max allocation
- $150K
- Platforms
- Tradingview, Volumetrica, ATAS +4
Halcyon Trader Funding Halcyon Trader Funding: Information and detailed review
On this page
Company information
No
United States
2024
Steve A. Kubik
Technical information
Minimum reward request: $250. Lite, Prime and Dynamic Reward Accounts only need net profit above their starting balance; there is no buffer to clear.
Lite and Prime
- 25K: 50% of profits, up to $1,000 per reward
- 50K: 50% of profits, up to $2,000 per reward
- 150K: 50% of profits, up to $3,000 per reward
Dynamic
- 50K: up to $1,250 per reward
- 75K: up to $1,550 per reward
- 100K: up to $2,000 per reward
- 150K: up to $3,000 per reward
Maximum 5 approved rewards per account. After the 5th reward, the account may be reviewed for transition to the TLT Program or a Live Brokerage account.
- 6 qualifying trading days are required before each reward request
- All 6 days must meet the applicable Minimum Daily Profit Requirement
- Lite/Prime minimums: $100 for 25K, $200 for 50K and $350 for 150K
- Dynamic minimums: $200 for 50K, $275 for 75K, $325 for 100K and $400 for 150K
- After each approved reward, all qualifying trading days reset to zero
- No payout window: requests can be submitted whenever the dashboard shows an eligible reward amount
- Processed first-in, first-out, up to 3 business days
- Halcyon may transition traders to a Live Brokerage account once consistency and risk management are demonstrated.
- Trader Live Training Program: intermediate stage in a simulated environment that rewards milestones before live transition.
- Live Brokerage: daily reward requests (Mon–Fri), 100% profit split, swing trading allowed, margin-based contract limits.
- Exclusive to the Ironbeam platform.
- Starting capital on live typically matches the qualifying Reward Account's drawdown amount.
Commissions
- Based on the default (free) membership tier of platform partners.
- Fees include: exchange, NFA, clearing and platform commission.
- Calculated per contract, per round trip.
- Micro contracts generally have lower fees than mini contracts.
Plans and conditions
Lite and Prime
Two one-time pricing options are available:
- With activation fee: lower evaluation fee, then a separate activation fee after passing
- No activation fee: higher all-in evaluation fee; upgrade to the Reward Account is free
Dynamic
- One-time 50K evaluation fee: $47 with Intraday Trailing drawdown or $49 with End-of-Day drawdown
- A separate Reward Account upgrade fee is paid after passing
No subscriptions or recurring billing.
Lite and Prime
- With activation-fee pricing, the activation fee is paid once after passing
- With no-activation-fee pricing, no payment is required after passing
- Both options lead to the same Reward Account rules
Dynamic
- After passing, the trader pays a one-time upgrade fee based on the selected Reward Account size, drawdown type and consistency option
- No buffer. Removed for accounts purchased from 8 Aug 2026.
- To request a reward it is enough to be above the account starting balance: there is no locked amount to build or maintain.
- Previously a buffer of drawdown + $100 was required, and withdrawing from within it was not allowed.
- After the first approved reward, the maximum loss limit moves permanently to starting balance + $100.
90/10 profit split on all Lite, Prime and Dynamic Reward Accounts. Trader keeps 90%, firm keeps 10%.
Halcyon Lite (Intraday Trailing)
- $25K: $1,000 | $50K: $2,000 | $150K: $4,000
- Tracks Total Liquidation Value including unrealized profits
- Locks permanently at starting balance + $100 after the first approved reward
Halcyon Prime (End-of-Day)
- $25K: $1,000 | $50K: $2,000 | $150K: $4,500
- Updates only at end of trading session based on closing balance
- Locks permanently at starting balance + $100 after the first approved reward
Halcyon Dynamic
- Evaluation: $2,000 on the 50K account; Intraday or End-of-Day selected at purchase
- Reward: $2,000 on 50K | $2,500 on 75K | $3,000 on 100K | $4,000 on 150K
- Reward drawdown can be Intraday or End-of-Day, independently of the evaluation choice
- Locks permanently at starting balance + $100 after the first approved reward
No daily loss limits on any plan.
- Halcyon Lite Evaluation: 1 trading day
- Halcyon Prime Evaluation: 3 trading days, or 1 day with the 1-Day Pass add-on
- Halcyon Dynamic Evaluation: 1 trading day
- All Reward Accounts: 6 qualifying trading days before each reward request; the counter resets to zero after each approved reward
- Evaluation accounts expire after 30 calendar days if not passed.
- Accounts inactive for more than 30 calendar days are disabled.
- Halcyon Lite Evaluation: 1 trading day
- Halcyon Prime Evaluation: 3 trading days, or 1 day with the 1-Day Pass add-on
- Halcyon Dynamic Evaluation: 1 trading day
- All Reward Accounts: 6 qualifying trading days meeting the applicable Minimum Daily Profit Requirement before each reward request
- Unlimited resets available for a fee (via the Trader Dashboard).
- Restores a fresh account balance with all risk parameters reset.
- Halcyon Prime: 1-Day Pass add-on. Price by size: +$18 (25K), +$27 (50K), +$41 (150K).
- Bypasses the 40% consistency rule.
- Allows passing the evaluation in a single trading day.
- Halcyon Lite has no add-ons.
Bridge between simulated trading and a live brokerage account.
How it works
- Successful Halcyon Lite, Prime or Dynamic traders may enter the Trader Live Training Program after demonstrating consistency.
- The trader keeps operating in a simulated environment designed to mirror the structure and discipline of live trading, with rewards at milestones throughout the program.
- No abrupt jump into a live account: the program is a progressive ramp focused on consistency, risk management and discipline.
Live Brokerage outcome
- Once the program is successfully completed, the trader may qualify for a Live Brokerage account.
- Live account balances can reach up to 3X the size of the previous live-transition model.
- Live accounts run on Ironbeam, with 100% profit split, daily reward requests (Mon–Fri) and swing trading allowed.
Three active programs:
Halcyon Dynamic
One 50K evaluation with a choice of Intraday or End-of-Day drawdown. After passing, the trader chooses a 50K, 75K, 100K or 150K Reward Account, either drawdown type, and 40% consistency or no consistency. Reward cycle: 6 qualifying days.
Halcyon Lite
Evaluation (1 min trading day, intraday trailing drawdown) → Reward Account (6-day reward cycle, intraday trailing drawdown). Two pricing options: lower evaluation fee plus an activation fee after passing, or a higher all-in evaluation fee with no activation fee. Sizes: $25K, $50K, $150K.
Halcyon Prime
Evaluation (3 min trading days, 40% consistency, EOD drawdown) → Reward Account (6-day reward cycle, 40% consistency, EOD drawdown). Two pricing options: lower evaluation fee plus an activation fee after passing, or a higher all-in evaluation fee with no activation fee. Optional 1-Day Pass add-on to compress the evaluation to a single day. Sizes: $25K, $50K, $150K.
Flagship Standard (closed)
The original Evaluation → Funded → Sim Brokerage path was phased out. All Sim Brokerage accounts closed on 31 Jul 2026.
Start with one 50K evaluation and choose Intraday or End-of-Day drawdown at purchase. After passing, independently choose a 50K, 75K, 100K or 150K Reward Account, either drawdown type, and 40% consistency or no consistency.
Reward drawdowns: $2,000 / $2,500 / $3,000 / $4,000. Contract limits: 5/25, 8/40, 10/50 and 15/75 Mini/Micro. Minimum daily profit: $200 / $275 / $325 / $400. Maximum reward: $1,250 / $1,550 / $2,000 / $3,000.
All Dynamic Reward Accounts have a 90% profit split, no daily loss limit, a $250 minimum reward, six qualifying days per request and a maximum of five approved rewards before possible TLT or Live review.
The original Standard path (Evaluation → Funded → Sim Brokerage) is being discontinued. Halcyon Lite and Halcyon Prime continue unaffected.
Key dates
- 30 May 2026: no new Flagship Evaluation accounts available for purchase.
- 13 Jun 2026: Evaluation accounts can no longer advance to Funded.
- 27 Jun 2026: Funded accounts can no longer advance to Sim Brokerage.
- 31 Jul 2026: all Sim Brokerage accounts close. Final reward calculations are based on the highest fully completed and qualified reward tier achieved.
Closures during the wind-down come with no refunds, credits or compensation.
Maximum of 3 active Reward accounts at any time (across all program types combined). Unlimited Evaluation accounts allowed.
Rules
- Bots, algos and semi-automated systems are allowed.
- You must be the sole owner of the system.
- The system cannot be used across multiple firms.
- HFT (high-frequency trading) bots are not allowed.
- Halcyon may request proof of usage.
Day trading only. All positions must be closed and all orders canceled by 4:45 PM EST (New York Time). Positions are automatically liquidated outside trading hours. No overnight or weekend holding on any account type.
- All positions must be closed and all orders canceled by 4:45 PM EST.
- Positions are automatically liquidated outside trading hours.
- Failing to close may trigger automatic liquidation and account failure.
- Hedging on the same or related underlying assets (e.g. ES + MES, NQ + MNQ)
- Opposite Direction Trades within or across accounts (CME Rule 534 – Wash Trades, CME Rule 575 – Disruptive Practices)
- Mixing micro and mini contracts on the same asset
- Holding positions outside trading hours / overnight / weekend
- Account sharing or third-party trading
Halcyon Lite
- No consistency rule on evaluation or reward accounts.
Halcyon Prime
- 40% consistency rule on BOTH evaluation and reward accounts.
- No single trading day's profit may exceed 40% of total profits during the qualifying period.
- 1-Day Pass Add-On allows bypassing the consistency requirement during evaluation only.
Halcyon Dynamic
- When upgrading after passing the evaluation, the trader chooses a Reward Account with 40% consistency or no consistency.
Accounts must place at least one trade every 30 consecutive calendar days. Accounts inactive for more than 30 days will be considered inactive and may be disabled. Evaluation accounts also expire 30 calendar days after starting if not passed.
- Contract limits are applied based on account size.
- Excessive daily contract usage is prohibited (over 250 contracts across micros or minis).
Banned countries
The company
Halcyon Trader Funding is a United States-based proprietary trading firm specializing in futures markets. Established in 2024, the company is led by CEO Steve A. Kubik. The firm positions itself as a specialized provider for futures traders, offering a bridge between simulated evaluation environments and professional live brokerage execution.
Unlike many firms that rely on a single brokerage relationship, Halcyon utilizes partners such as Ironbeam and Rithmic to provide market data and execution services. The company operates with a focus on transparency regarding its transition path, moving traders from initial evaluations to "Reward Accounts" and eventually into a "Live Brokerage" environment once consistency is demonstrated.
Evaluation models
Halcyon offers three primary pathways to funding, each catering to different trading styles and risk tolerances. A notable feature across these programs is the pricing flexibility, where traders can often choose between a lower initial fee followed by an activation fee, or a higher "all-in" fee with no subsequent activation costs.
Halcyon Lite
This model is designed for speed and simplicity. It requires only one minimum trading day to pass the evaluation. It utilizes an intraday trailing drawdown, which tracks the account's total liquidation value, including unrealized profits. This path is most suitable for scalpers or high-frequency traders who do not want to be constrained by consistency rules during the evaluation phase.
Halcyon Prime
The Prime model is geared toward more conservative traders who prefer an End-of-Day (EOD) drawdown. This drawdown only updates based on the closing balance at the end of the session, ignoring intraday fluctuations. The evaluation requires a minimum of three trading days and enforces a 40% consistency rule. However, the firm offers a "1-Day Pass" add-on for a fee, which allows traders to bypass the consistency rule and pass the evaluation in a single day.
Halcyon Dynamic
The Dynamic program offers the highest level of post-evaluation customization. Traders begin with a standard $50K evaluation where they choose between Intraday or EOD drawdown at the time of purchase. Upon passing, the trader has the unique ability to select their Reward Account size (ranging from $50K to $150K), their preferred drawdown type, and whether they want to operate under a 40% consistency rule or no consistency rule at all. This model provides a flexible "build-your-own" funding experience based on the trader’s performance during the evaluation.
Drawdown and risk management
Risk management at Halcyon is centered around the maximum drawdown limit, which varies significantly depending on the chosen account type and size.
Drawdown types and tracking
The firm employs two distinct tracking methods. The Intraday Trailing drawdown (used in Lite and optional in Dynamic) follows the peak account value, including open equity. This means if a trade goes significantly into profit but is not closed there, the drawdown limit moves up, potentially tightening the space for future trades. In contrast, the End-of-Day drawdown (used in Prime and optional in Dynamic) only adjusts when the market closes, providing more breathing room for intraday price swings.
The permanent lock mechanism
A critical feature of Halcyon’s risk policy is the "Drawdown Lock." Once a trader receives their first approved reward (payout), the maximum loss limit for the account moves permanently to the starting balance plus $100. This effectively turns the account into a "static" risk environment where the trader cannot lose more than their initial starting capital plus a small buffer, regardless of how high the balance grows thereafter.
Absence of daily loss limits
Unlike many proprietary firms that impose a maximum loss per day, Halcyon does not enforce daily loss limits on any of its plans. While this allows for greater flexibility during volatile market conditions, it places the full responsibility for daily risk management on the trader, as a single bad day can hit the overall maximum drawdown and fail the account.
Trading rules and restrictions
Halcyon permits a variety of trading styles, including the use of automated systems, but maintains strict prohibitions to ensure market integrity and risk control.
Permitted strategies and tools
Traders are allowed to use bots, algorithms, and semi-automated systems, provided they are the sole owners of the technology and do not use the same system across multiple firms. Copy trading is explicitly permitted, as is trading during high-impact news events. Scalping and "stacking" positions are also allowed within the contract limits of the specific account size.
Prohibited practices
The firm maintains a list of prohibited behaviors that result in account disqualification:
- Hedging: Traders cannot hold opposing positions in the same or related underlying assets (e.g., being long ES and short MES simultaneously).
- Wash Trades: Executing trades with no change in beneficial ownership or trades in opposite directions across different accounts to bypass rules.
- Contract Mixing: Mixing micro and mini contracts on the exact same asset is prohibited.
- Account Sharing: Trading on behalf of third parties or sharing account credentials is strictly forbidden.
Session requirements
All accounts are strictly "day trading" accounts. Every position must be closed and all pending orders must be canceled by 4:45 PM EST. Failure to do so results in automatic liquidation and can lead to account failure. There is no overnight or weekend holding allowed in the simulated or reward account stages.
Payouts
The payout structure at Halcyon is designed to reward consistency over time, moving away from "lottery-style" trading through specific qualifying requirements.
The 90/10 profit split
For Lite, Prime, and Dynamic Reward accounts, the trader retains 90% of the profits, while the firm keeps 10%. If a trader eventually transitions to the Live Brokerage account via the TLT program, the split increases to 100% for the trader.
Qualifying days and minimum profit
To request a reward, a trader must complete 6 "qualifying trading days." A qualifying day is not just any day a trade is placed; it must meet a Minimum Daily Profit Requirement. This requirement varies by account size and type (e.g., $100 for a 25K Lite account or $400 for a 150K Dynamic account). After a reward is approved, the counter of qualifying days resets to zero.
Withdrawal limits and buffer policy
Halcyon recently removed the "mandatory buffer" requirement for accounts purchased after August 8, 2026. Traders only need their net profit to be above the starting balance to request a payout. However, there are maximum withdrawal limits for the first five rewards. These caps depend on the account size (e.g., up to $1,000 per reward for a 25K account or $3,000 for a 150K account). After the fifth reward, the account undergoes a review for transition to live trading.
Platforms, assets and limitations
As a futures-only firm, Halcyon provides access to the major CME, CBOT, NYMEX, and COMEX products.
Technical ecosystem
The firm supports a wide range of professional trading platforms, including:
- TradingView (via integration)
- Quantower
- ATAS and Volumetrica
- Onyx, Tradesea, and WealthCharts
Execution is handled through Rithmic or Ironbeam. It is important to note that the Live Brokerage transition is currently exclusive to the Ironbeam platform.
Geographic and inactivity constraints
Halcyon does not accept traders from several jurisdictions, including Russia, Iran, North Korea, Syria, Venezuela, and several others in line with international financial regulations. Additionally, accounts are subject to an inactivity rule: at least one trade must be placed every 30 consecutive calendar days, or the account will be disabled.
Halcyon 10X — Trader Live Training Program
The Halcyon 10X program acts as a bridge between the simulated Reward accounts and a Live Brokerage account. This is a progressive stage where traders continue in a simulated environment that mirrors the discipline of live trading. Successful completion of this program allows the trader to move into a real brokerage account with Ironbeam, where they can access 100% profit splits, daily reward requests, and the ability to swing trade (overnight holding) based on margin-based contract limits.
Summary: who this firm suits
Halcyon Trader Funding is structured for traders who value flexibility in drawdown types and a clear path to professional brokerage execution.
Key points to consider
- Customization: The Dynamic model is one of the most flexible in the industry, allowing traders to choose their rules after passing the evaluation.
- Drawdown Evolution: The transition from a trailing/EOD drawdown to a fixed "lock" at starting balance + $100 after the first payout provides long-term account security.
- Strict Payout Criteria: The combination of 6 qualifying days and minimum daily profit requirements means traders cannot "gamble" their way to a payout with one lucky trade.
- No Daily Loss Limit: Provides freedom but increases the risk of catastrophic account failure if self-discipline is lacking.
Ideal trader profile
This firm is particularly well-suited for:
- Experienced Futures Traders who use professional platforms like Quantower or ATAS.
- Traders seeking EOD Drawdown options to avoid being stopped out by intraday volatility.
- Consistent Performers who can meet the minimum daily profit targets over a 6-day cycle.
- Professional Path Seekers who want to eventually trade in a real live brokerage environment with 100% profit splits and swing trading capabilities.