Upcomers Perpetuals: Information and detailed review

Who runs Upcomers Crypto

The perpetuals side of Upcomers

Upcomers Crypto is the Upcomers Perpetuals account type. Upcomers lists two companies: Royal Flow FZCO, a Dubai technology and education company (IFZA, licence 35886) that runs the simulated trading platforms, and Upcomers Ltd., incorporated in Saint Lucia (No. 2025-00579), which operates the platforms being added. Neither is a broker or takes deposits. Accounts are simulated: prices and order-book depth stream live from Hyperliquid, the largest on-chain perpetuals exchange, and your orders fill against that book as it stands, but nothing is sent to the exchange in your name. Payouts are real.

What you trade

About 130 perpetual contracts priced in USD and marked -PERP: around 80 crypto markets from BTC, ETH and SOL down to memecoins such as kPEPE, FARTCOIN or TRUMP, about 40 stocks and ETFs (including pre-IPO names such as SpaceX that have no public price at all), the S&P 500 and XYZ100 indices, gold, silver, crude oil, copper, and EUR and JPY. Everything trades 24/7, including stock and gold perps at the weekend while their exchanges are shut. Upcomers only lists markets with deep, reliable books; if Hyperliquid delists one, it switches to close-only. Bybit accounts sold earlier remain active under their own rules but Bybit is no longer offered.

Costs on every trade

There is no spread markup: you pay a maker or taker fee on the value traded, 0.015% and 0.045% on crypto and 0.003% and 0.009% on stocks, indices, commodities and FX, with higher fees on MSTR, PURRDAT and GOLD set by their market deployer. The minimum order is $10. Holding positions costs or earns hourly funding, usually around 0.00125% an hour and capped at 4%; on a $55,000 BTC long at the baseline that is about $16.50 a day. Fees, funding and slippage all hit your equity and count toward targets and drawdowns.

Leverage and margin

Leverage is chosen per symbol up to a cap: 10x on BTC, ETH and SOL, 2x on other crypto, 4x on stocks, 10x on indices, 8x on gold, silver and oil, 5x on copper and 25x on FX. Cross and isolated margin are both available. In practice your drawdown floor will stop the account long before an exchange-style liquidation would.

The five programmes

• Thunderbolt Classic: one phase with a 5% target, a 3% daily drawdown and a 6% trailing drawdown, from $5,000 to $400,000.
• Phoenix Classic: two phases of 4%, a 4% daily drawdown and the only fixed 6% floor in the range, from $10,000.
• Vanguard Classic: instant funding from $2,000 with a 4% daily drawdown, the widest 7% trailing drawdown and 5 profitable days of at least 0.5% before each payout (6 on accounts bought before 26 October 2026).
• Horizon: one phase with a 9% target and no consistency rule, 2 days of 0.5% to pass and 3 to 5 such days before each payout depending on size.
• Odyssey: two phases of 6% with no consistency rule, 2 days per phase and 3 or 4 days before each payout.

The three Classic programmes let you choose an 80%, 90% (standard) or 100% split at checkout, which changes the price, and apply a 20% Best Day Rule at payout. Horizon and Odyssey pay a fixed 80% every 14 days and need 3% new profit per payout. On funded accounts, a single trade may not lose more than 3% (Thunderbolt and Phoenix), 2% (Vanguard and Odyssey) or 1.5% (Horizon) of the account, and breaking that cap is a hard breach.

How the limits work

The daily boundary

Perpetuals never close, but the account still runs on a 00:00 UTC day. At that moment the system records the higher of your equity or balance and sets the daily floor below it; a position held across midnight gets a new limit mid-trade, and a good day raises the next day's floor. A trading day counts only if you closed at least one trade in it.

The Dynamic Risk Shield

The trailing drawdown follows your highest equity, open profit included, in real time, and never moves back down. It locks at the initial balance once you are 6% up. Withdrawals do not reset it: if you take out a $4,000 profit on $104,000 before the lock, the floor stays at $97,760 and you are left with $2,240 of room, and withdrawing all the profit after the lock breaches the account. Phoenix instead keeps a fixed floor that never moves.

The Best Day Rule

On the Classic programmes, your best day can be at most 20% of the profit since your last payout. It is a soft rule: it never closes the account or touches the balance, it only decides whether you can be paid now.

Inactivity

Accounts expire after 35 consecutive days without a closed trade, counted from purchase; a warning email arrives seven days before.

Trading rules

Allowed

EAs, bots and automation, including third-party or purchased EAs, as long as they respect the rules; copying trades between accounts that all belong to you, including at other firms or brokers; news trading in every phase without blackout windows; and holding positions around the clock.

Prohibited

Hedging, even inside a single account; copying trades between different people, account management and "pass your challenge" services, which lead to a permanent ban; HFT, tick scalping built on trades under two minutes, the "Quick Strike" method and hyperactivity (more than 200 trades and 2,000 server messages a day); latency and any other arbitrage; grid trading and martingale; exploiting platform or data errors and emulators; running the same EA with the same settings as other traders; and all-or-nothing trading, meaning passing a phase with one or a handful of oversized trades, which disqualifies the account. An automated system flags accounts whose trades mirror other traders' for manual review, and every account is reviewed at each payout.

Getting paid

Eligibility

Each payout needs at least 1% new profit since the last one (3% on Horizon and Odyssey), all positions closed, no breach, the profitable days your programme requires, KYC and a signed Upcomers Traders Agreement, and a share of at least $45 after the split; smaller profits roll forward. Payouts follow a progressive cap by account size that rises with each payout and disappears after the eighth.

Methods and fees

Every payout carries a $19.90 base fee. Bank transfer adds 2.49%; crypto (USDT on TRC20 or USDC on ERC20) adds 30%, unless more than half of your orders were paid in crypto, in which case it is also 2.49%. Upcomers explains that its UAE bank advised it not to buy crypto, so it can only pay out crypto that traders paid in.

Fee bonus, scaling and limits

Challenge accounts earn a bonus of 200% of the entry fee after three fully approved payouts with no strategy violation; a single partial approval removes the bonus for that account, and instant accounts do not qualify. The scaling plan, listed for Thunderbolt, Phoenix and Vanguard, adds 35% to a funded account every four months if it grew 15%, made two payouts and ended in profit, up to $4,000,000, on request. Total funded capital is capped at $1,500,000 per person.

Fees and legal terms

One person may hold one profile, though several challenges can run inside it. KYC must be done personally, with your own ID and device; help from anyone else terminates the account. Purchases can be cancelled within 14 days only if the account has no trades at all. Crypto payments go through Confirmo, which alone can refund under- or over-payments. Residents and citizens of Afghanistan, the Central African Republic, Crimea and the Donetsk and Luhansk regions, Cuba, Iran, Iraq, Kosovo, Libya, Mali, Myanmar, North Korea, Palestine, Russia, Somalia, South Sudan, Sudan, Syria, Vanuatu and Venezuela are excluded.

Where the documentation disagrees

• Number of programmes. The perpetuals overview lists three programmes; the rules overview and the catalogue list five, adding Horizon and Odyssey.
• Shared EAs. The prohibited-strategies page says you may run the same EA as other traders; the EA page bans running the same EA with the same settings as others.

Who Upcomers Crypto suits

Upcomers Crypto suits traders who want perpetuals on real Hyperliquid prices, 24/7, across crypto, stocks, commodities and FX, with transparent maker and taker fees, sizes up to $400,000 per account, EAs allowed, and a choice between Classic programmes with a 20% Best Day Rule and Horizon or Odyssey without any consistency rule.

It suits traders less if they hedge, scalp in seconds, hold oversized single positions given the per-trade loss caps on funded accounts, or want cheap crypto payouts after paying by card. Weekend trading is possible, but so are weekend losses, and the trailing floor does not reset when you withdraw.