NYS Markets sells prop trading challenges in which you trade simulated capital. Its pricing page lists four markets: CFDs, Futures, Stocks and Crypto. For CFDs it lists four challenges: Instant, Flash, One Trade and 2 Step. The rules pages name MetaTrader 5 (MT5) as the platform for CFD accounts.
We could see full prices and rules for the 2 Step CFD challenge, and a help-centre rules article for One Trade (CFDs), which is written in Spanish. We could not see prices or rules for Flash or Instant, or for the Futures, Stocks and Crypto products. Several of the firm's pages disagree on account sizes, the payout cap, automated trading, copy trading and allocation limits. We point these out below.
Everything in this review comes from NYS Markets' own web pages, saved on 10 October 2026. Rules and prices change, so check the firm's site before you buy.
| Highest profit split | Up to 100% source Firm's wording: “The profit split starts at 80% and scales up to 100% with consistent performance.” |
|---|---|
| Account types | 1-Step evaluation, 2-Step evaluation, Instant funding (no evaluation) source |
| Markets | Forex, Indices, Metals, Commodities, Crypto, Futures, Stocks source |
| Platforms | MetaTrader 5 source |
| Allowed / offered on at least one account type |
Rules can differ between account types — check the linked page for the account you want. |
| Not allowed, or rules that apply (firm says so) |
|
| US traders | Not accepted source |
| Restricted countries named | Russia, United Arab Emirates, United States source Countries the firm names. Its list may also refer to sanctions lists or other countries — check the linked page. |
On the pricing page, Instant is described as "Skip Evaluation" and "Direct to funded". Flash is described as "Lower entry" and "Quick evaluation • No Daily Loss". One Trade is described as "Pass in 1 Day" (and, in another layout, "Pass in 1 Trade"). 2 Step is the two-phase evaluation. Our capture of the pricing page shows prices only for the 2 Step CFD challenge.
The Trading Objectives page says the same rules apply across every size, and that "only the capital and the challenge price change". We could not see whether these prices are one-time or recurring.
| Size | Price | Phase 1 target | Phase 2 target | Max daily loss | Maximum loss | Max payout shown on funded card |
|---|---|---|---|---|---|---|
| $10,000 | $58 | 8% | 5% | 5% | 10% | $400 |
| $20,000 | $138 | 8% | 5% | 5% | 10% | $800 |
| $50,000 | $268 | 8% | 5% | 5% | 10% | $2,000 |
| $100,000 | $498 | 8% | 5% | 5% | 10% | $4,000 |
| $150,000 | $738 | 8% | 5% | 5% | 10% | $6,000 |
| $200,000 | $998 | 8% | 5% | 5% | 10% | $8,000 |
The payout figures in the last column come from the pricing page. The Trading Objectives page sets a lower cap; see Payouts below.
The One Trade help-centre article says prices are being updated and that current prices, fees, resets and add-ons for each size are shown at checkout. We could not see One Trade prices.
The How It Works page says "Account sizes range from $5,000 to $150,000" and promotes "Up to $150,000 NYS Account". The pricing page shows sizes from 10K to 200K, and the Trading Objectives page says "From $10,000 to $200,000". The How It Works page also says NYS offers three programmes: an Instant Account, "Step 1 for a single-phase evaluation" and "Step 2 for a two-phase evaluation". The pricing page lists four CFD challenges. We used the pricing and Trading Objectives pages.
These rules come from the Trading Objectives page for the Two Step CFD challenge.
The page's example for a $100K account: the Step 1 target balance is $108,000, the daily loss floor is $95,000 equity, and the fixed maximum loss floor is $90,000 equity.
After both steps the account goes through validation and the Live account is activated automatically. The page says the move to the live stage usually takes less than 24 hours but can take up to 72 hours. The Live account has no profit target and keeps the 5% daily and 10% maximum loss limits, with an unlimited trading period.
Max risk per Trade Idea (Live only): 2% for all account sizes. A Trade Idea groups entries opened on the same instrument and in the same direction within a rolling 10-minute window. The peak negative floating P&L of each linked trade is added together. Reaching or exceeding 2% closes the account. On a $100K account the limit is $2,000.
The 2 Step cards on the pricing page also show a maximum leverage of 1:100 and "Consistency Target None".
These rules come from the One Trade article in the firm's help centre (CFDs). The article is in Spanish; the wording below is our translation.
| Rule | Evaluation | Funded |
|---|---|---|
| Profit target | 10% | None |
| Max daily loss | 3% | 3% |
| Maximum loss | 6% (fixed) | 6% (fixed) |
| Max risk per trading idea | N/A | 2% |
| Consistency target | N/A | 30% |
| Minimum trading days | None | 5 profitable days |
| Max leverage | 1:100 | 1:100 |
| Profit split | N/A | 80% trader / 20% NYS Markets |
On the 2 Step challenge, the Trading Objectives page says trading during news is allowed in Step 1 and Step 2. In the Live stage there is a restricted window from 10 minutes before to 10 minutes after a high-impact economic release, using the Forex Factory calendar. During the window you may not open, close (fully or partly) or modify trades, and pending orders may not execute. Each affected trade counts separately: the first time brings a notice, the second cuts that payout by 50%, the third means that payout is not received, and the fourth closes the account.
The One Trade article describes the same 20-minute window and four steps, applied to the next payout requested after each violation. It adds that a stop loss or take profit triggering inside the window also counts as trading.
The 2 Step Trading Objectives page lists as allowed: manual trading, scalping, intraday and swing trading, overnight positions, weekend holding, Expert Advisors, automated systems, and copy trading between your own NYS accounts. It lists as not allowed: HFT, toxic order flow, latency arbitrage, server spamming, price-feed abuse, copy trading with external users, opposite-account trading, hedging, gambling, martingale, third-party management, excessive exposure or reckless overleveraging, third-party Expert Advisors and coordinated trading with other users. It says there is no fixed public lot-size rule.
The One Trade article lists scalping, intraday and swing trading, overnight and weekend holding, personal Expert Advisors, and copy trading between eligible accounts owned and controlled by the same trader as allowed. It permits only EAs you own and developed for your own use. It also allows copying between your NYS Markets account and your own accounts at other prop firms or your own live accounts. It bans martingale and other recovery systems, and hedging or opposite positions on the same instrument.
The Terms and Conditions page is stricter in places. It lists practices including gap trading, high-frequency trading, tick scalping, latency arbitrage, hedge arbitrage, opposite account trading, and "Copy trading, trade mirroring, or third-party account management". On EAs it says "Allowed: trade/risk management tools" and "Not allowed: signal bots, automated strategies, third-party systems that trade for you". This conflicts with the Trading Objectives page, which lists automated systems as allowed. We have described each page's rules as written. If you plan to run an automated strategy or copy trades, check the current rules with the firm first.
The page's $100K example: a maximum payout of $2,000, of which you receive $1,600 at 80%.
Payouts are on request once all eligibility requirements are met. The conditions match 2 Step: 5 profitable days at 0.25% or more of the initial balance, and a maximum of 2% of the initial balance per request. In addition, no pending orders may be active and the 30% consistency target must be met. The article says requests are processed automatically and can take up to 24 hours.
We used the detailed rules pages for the figures above.
The CFD rules pages name MetaTrader 5 (MT5) as the platform. For the 2 Step challenge the Trading Objectives page lists the markets as forex, indices, metals, energies and crypto, with the same leverage in the evaluation and in Live:
| Instrument | Maximum leverage |
|---|---|
| Forex | 1:100 |
| Metals | 1:30 |
| Indices | 1:20 |
| Energies | 1:10 |
| Crypto CFDs | 1:2 |
The One Trade article gives the same leverage figures. The Trading Objectives page says spreads, commissions and swaps are "As shown on the platform".
The help centre also describes the other products in one line each: futures with dxFeed market data, individual stocks, and crypto with "four challenges, on-demand payouts and crypto withdrawals". We did not capture their rules or platforms.
On the evidence we saw, the 2 Step CFD challenge suits MT5 traders who want no minimum trading days, no time limit and a fixed maximum loss that does not rise with profits. It suits less well traders who trade around high-impact news once funded, or who want large single payouts: the detailed rules cap each request at 2% of the starting balance. Traders who rely on automated strategies or trade copiers should check the current rules first, because the Terms and the programme pages word these rules differently. Residents of the United States, Russia and the UAE are among those the firm does not accept.
MyPropGenius Rating:
The rating measures how openly NYS Markets discloses its rules, pricing, payouts and ownership (our Transparency Index methodology). It does not measure how likely you are to pass or be paid.
Check the current rules and prices on the firm's own website before you buy.
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NYS Markets sells simulated CFD challenges on MT5. Its 2 Step challenge has 8% and 5% targets, a 5% daily and 10% fixed maximum loss, and no minimum days or time limit. Once funded, payouts are on demand but capped at 2% of the starting balance per request on the detailed rules pages, and news and per-idea risk limits apply. The firm's own pages contradict each other on several points, including account sizes and the payout cap, so confirm the rules with the firm before buying.
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Find My MatchNo. The firm says all its accounts are not real trading accounts and that any balance, profit or loss shown is hypothetical.
The firm says the split starts at 80% and scales up to 100% with consistent performance. The detailed rules pages for 2 Step and One Trade give 80%. We did not see a page that explains the steps to 100%.
No. Both phases have no minimum trading days and no time limit.
On 2 Step, news trading is allowed in Step 1 and Step 2. In the Live stage you may not trade from 10 minutes before to 10 minutes after a high-impact release.
MetaTrader 5 for its CFD accounts.
No. The firm lists the United States among the jurisdictions it does not serve.