Upcomers Futures: Information and detailed review

Overview of Upcomers Futures

Upcomers Futures operates as a specialized proprietary trading firm focusing exclusively on the futures market. The firm provides traders with access to simulated environments where they can trade a wide variety of asset classes, including equity indexes, metals, energy, currencies, rates, grains, livestock, and cryptocurrencies. All accounts provided by the firm are sim-funded, meaning they operate in a simulated environment that mimics real market conditions without being live brokerage accounts.

The firm distinguishes itself through two primary paths to funding: the Thunderbolt Classic, which is a one-step evaluation program, and Vanguard, an instant funding model that bypasses the evaluation phase entirely. Upcomers Futures utilizes a proprietary platform, Upcomers X, and implements a tiered structure for withdrawals and risk management that emphasizes long-term consistency over short-term gains.

Program Structures and Evaluation Models

Thunderbolt Classic: The One-Step Evaluation

The Thunderbolt Classic program is designed for traders who prefer a performance-based entry. It requires the completion of a single evaluation phase to move into a funded status.

• Profit Target: Traders must achieve a 6% profit target based on the initial account balance.
• Minimum Trading Days: The evaluation can be passed in as little as one day, provided the profit target is met and all risk rules are respected.
• Account Sizes: Available options range from 25K to 400K USD, with costs scaling according to the account size and the selected profit split (80%, 90%, or 100%).
• Trial Phase: This program includes an optional trial phase for those who wish to test the environment before committing to the full evaluation.

Vanguard: Instant Funding Model

The Vanguard program caters to experienced traders by removing the evaluation hurdle. It allows immediate access to a funded account upon purchase.

• No Profit Target: Since there is no evaluation phase, there is no specific target to reach before becoming "funded."
• Qualifying Period: While there is no evaluation, Vanguard accounts require 5 qualifying days before the first payout can be requested. Each qualifying day must result in a profit of at least 0.5% of the account balance.
• Cost Structure: Due to the removal of the evaluation phase, Vanguard accounts carry a significantly higher upfront cost compared to Thunderbolt Classic accounts of the same size.

Drawdown Mechanics and Risk Management

Upcomers Futures employs a dual-layer drawdown system consisting of a daily loss limit and a maximum trailing drawdown. Understanding the interaction between these two rules is critical for account longevity.

Daily Drawdown Limits

The daily drawdown is a "hard" limit that resets every day at 5:00 PM ET.

• Thunderbolt Classic: The daily limit is 3% during the evaluation phase and narrows to 2% once the account is funded.
• Vanguard: The daily limit is fixed at 2%.
• Calculation: This limit is typically calculated based on the starting balance of the day. Violating this limit results in immediate account termination.

Maximum Trailing Drawdown

The trailing drawdown is dynamic and follows the account's peak equity in real-time.

• Percentage Limits: The trailing drawdown is set at 4% for Classic accounts and 3% for Vanguard accounts.
• Real-Time Trailing: The drawdown threshold moves upward as the account's open equity increases. If a trade is in profit but not closed, the drawdown threshold still moves up based on the high-water mark of that profit.
• The "Locking" Mechanism: Once the account grows by an amount equal to the initial drawdown (e.g., a 100K Classic account grows to 104K), the trailing drawdown locks at the initial starting balance (100K). From that point forward, the drawdown no longer trails upward, effectively becoming a static minimum balance requirement.

Maximum Risk Per Trade

A unique constraint in the Upcomers environment is the Maximum Risk Limit.

• 1.5% Hard Cap: Traders are prohibited from losing more than 1.5% of the initial account size on any single open trade.
• Aggregation Rule: If a trader has multiple positions in the same instrument and direction, they are treated as a single trade for the purpose of this rule.
• Implication: This rule forces traders to use stop-losses or manage position sizes strictly, as a single large loss exceeding this threshold is a rule violation, regardless of the overall account balance.

Trading Rules and Operational Restrictions

Consistency and the 20% Best Day Rule

To prevent "gambling" or "one-shot" trading styles, Upcomers Futures enforces a 20% Consistency Rule.

• Definition: At the time of a payout request, no single trading day's profits can represent more than 20% of the total profit earned.
• Practical Consequence: If a trader makes a large profit in one day, they must continue trading and generate further profits across multiple days to dilute the "best day" until it falls below the 20% threshold. This ensures that the payout is based on a series of successful trades rather than a single lucky event.

Prohibited Strategies

The firm strictly prohibits strategies that exploit the simulated nature of the platform or create excessive risk.

• High-Frequency Trading (HFT) and Tick Scalping: Strategies relying on micro-second executions or exploiting latency are banned.
• Arbitrage and Feed Abuse: Any attempt to profit from price discrepancies between different data feeds is prohibited.
• Martingale: Increasing position sizes after losses to "recover" is not allowed.
• Account Rolling: Using multiple accounts to hedge against each other or to bypass drawdown limits is a violation.
• Mass-Shared Strategies: Using "off-the-shelf" bots or strategies used by a large number of other traders may lead to account closure.

Permitted Actions

• News Trading: Trading during high-impact news events is allowed.
• Overnight and Weekend Holding: Traders are permitted to hold positions overnight and through the weekends, which is a significant departure from many other futures prop firms that require flat positions by the market close.
• Copy Trading: Allowed between accounts owned by the same individual, but prohibited between different people.
• Expert Advisors (EAs): Automation is allowed if the strategy is unique and the trader remains responsible for its performance.

Payout Policies and Withdrawal Procedures

Payout Frequency and Requirements

The payout schedule depends on the program type:

• Classic Accounts: Payouts can be requested whenever conditions (profit targets and consistency) are met.
• Vanguard Accounts: The first payout requires 5 qualifying days (each with 0.5% profit).
• Processing Time: Upcomers states that payouts are processed on the same day after approval.

Tiered Withdrawal Caps

Upcomers imposes maximum withdrawal limits for the first several payouts to ensure the firm's stability and encourage traders to build a buffer.

Classic Program Caps (Payouts 1–5):

• 25K Account: Limits scale from $500 to $1,500.
• 50K Account: Limits scale from $800 to $3,000.
• 100K Account: Limits scale from $1,400 to $6,000.
• 400K Account: Limits scale from $4,700 to $23,500.

Vanguard Program Caps (Payouts 1–7):

• 25K Account: Limits are $500 for the first two, rising to $1,500.
• 100K Account: Limits scale from $1,600 to $6,000.
• 300K Account: Limits scale from $3,100 up to $18,000.
• Note: The Vanguard 400K cap is not currently published in the standard table and requires support confirmation.

Payout Fees and Methods

The fee structure for withdrawals is heavily influenced by the initial payment method:

• Bank Transfer: $19.90 + 2.49% fee.
• Crypto (Standard): $19.90 + 30% fee.
• Crypto (Reduced): $19.90 + 2.49% fee, applicable only if more than 50% of the trader's total purchases (evaluations/activations) were paid in cryptocurrency.
• Minimum Withdrawal: $100.
• Buffer Requirement: A minimum of 1% profit must be maintained from the previous payout.

Account Lifecycle and Scaling

Inactivity Rule

Accounts are subject to an automatic closure if no trades are closed for 14 consecutive calendar days. The clock starts from the moment of purchase and resets with every closed trade. This emphasizes the need for active participation in the markets.

Reset Policies

Resets are available only when specifically offered by Upcomers. It is important to note that a reset following a rule violation carries a permanent penalty: future payouts on that specific account will be permanently limited to 50% of the standard profit split.

Scaling Plan

Upcomers offers a robust scaling plan for successful traders:

• Growth: Accounts can be increased by +35% every 4 months.
• Maximum Ceiling: Total capital can scale up to $4,000,000.
• Requirements: To qualify for scaling, a trader must show 15% cumulative growth, have received at least 2 payouts, and finish the cycle with a positive balance.

Maximum Allocation

The total funded capital an individual trader can manage across all Upcomers programs is capped at $1,500,000. While there is no fixed limit on the number of accounts, the aggregate value must stay within this limit.

Technical Specifications and Assets

Trading Platform

The primary platform is Upcomers X. It is designed to handle the specific requirements of futures trading, including depth of market and real-time data execution.

Available Instruments

Traders have access to a wide range of CME Group products:

• Equities: ES (S&P 500), NQ (Nasdaq 100), YM (Dow Jones), RTY (Russell 2000) and their micro counterparts (MES, MNQ, MYM, M2K).
• Metals: GC (Gold), SI (Silver), HG (Copper), PL (Platinum), PA (Palladium).
• Energy: CL (Crude Oil), NG (Natural Gas), RB (Gasoline), HO (Heating Oil).
• Currencies: 6E (Euro), 6B (British Pound), 6J (Japanese Yen), 6A (Australian Dollar), 6C (Canadian Dollar).
• Crypto Futures: BTC (Bitcoin) and ETH (Ethereum) along with micros (MBT, MET).

Summary and Key Considerations

Trader Profile Suitability

Upcomers Futures is structured for a specific type of trader:

• Swing Traders: The ability to hold positions overnight and through weekends makes this firm more attractive to swing traders compared to firms that enforce daily flattening.
• Risk-Averse Traders: The 1.5% max risk per trade rule and the trailing drawdown that eventually locks at the starting balance favor those with strict risk management.
• High-Capital Traders: With a scaling plan reaching $4M and a max allocation of $1.5M, it caters to those looking for significant size.

Primary Highlights

• Instant Funding Option: The Vanguard program allows traders to skip evaluations if they are willing to pay a premium.
• Flexible Holding: No restrictions on news or holding through market closes.
• Locked Drawdown: The transition of the trailing drawdown into a static one once the initial buffer is earned is a major benefit for long-term account stability.
• High Profit Split: A default 90% split is competitive in the futures prop space.

Significant Limitations

• Withdrawal Caps: The tiered caps on the first 5 to 7 payouts mean that traders cannot withdraw large windfalls immediately.
• Crypto Payout Fees: The 30% fee for crypto withdrawals (unless the 50% purchase rule is met) is exceptionally high.
• Inactivity Penalty: The 14-day inactivity rule is relatively strict for traders who prefer to wait for specific market conditions.
• Reset Penalty: The 50% payout reduction after a violation reset makes recovering a failed account significantly less profitable.