Phidias Launches 10K Drawdown Summer Edition Competition with $24,000 Prize Pool

Phidias Propfirm has announced the launch of its "10K Drawdown, Summer Edition" futures trading competition. The event features a total prize pool of $24,000 and allows participants to compete for cash rewards and free evaluations for a $30 entry fee.

Competition Mechanics and Rules

The competition takes place on an initial $10,000 simulated account with a $10,000 trailing drawdown calculated at the End of Day (EOD). Participants have a maximum limit of 25 E-mini contracts or 250 micro contracts. This edition does not require a fixed profit target, consistency rules, or minimum trading days.

Trading during news events is permitted across CME, CBOT, NYMEX, and COMEX markets, using data from dxFeed or Rithmic. While unlimited simultaneous entries are allowed, only the account with the best result for each trader will be valid for the daily leaderboard, which updates at the close of each day.

Cash Prize Distribution

The top ten finishers will receive cash prizes credited to their Phidias Wallet within 48 hours of the competition's close:

• 1st place: $12,000
• 2nd place: $3,000
• 3rd place: $2,160
• 4th place: $1,680
• 5th place: $1,320
• 6th place: $1,080
• 7th place: $840
• 8th place: $720
• 9th place: $660
• 10th place: $540

Additional Tiered Rewards

Remaining participants will receive mutually exclusive rewards based on their final ranking:

• Top 10% (excluding cash winners): A free 50K Fundamental evaluation account (One-Time Payment), including all fees and activation costs.
• Top 50%: A 90% discount code for a future evaluation (excludes One-Time Payment products).
• All other participants: An 80% discount code for a future evaluation (excludes One-Time Payment products).

Key Dates

The competition runs from July 1 to September 30, 2026. Registration closes on September 23, 2026, allowing participating accounts to continue trading until the official conclusion of the event.