Phidias Propfirm review 2026

Phidias Propfirm sells evaluations for trading futures. Its rules page lists four account categories: Express to Live (25K, 50K, 100K and 150K), Fundamental and Premium (50K, 100K and 150K each), and a monthly 10K Drawdown Challenge competition. Evaluation and funded CASH accounts are simulated. The Terms of Use describe a CASH account as a "virtual currency account", and the rules page refers to "simulated CASH accounts".

A trader can later move to a LIVE account. The Terms describe this as an account funded "with real money from the Company's funds". The homepage says LIVE trades are executed through Dorman Trading, which it describes as a registered FCM. The route to LIVE differs by programme: automatic on Express to Live after the CASH target is reached, discretionary on Fundamental and Premium.

Everything in this review comes from Phidias Propfirm's own web pages, saved on 7–9 October 2026. Rules and prices change, so check the firm's site before you buy.

The table below summarises the evaluation rules from the firm’s rules page.

There are two ways to pay. With the evaluation or monthly option, a CASH account activation fee is charged when you pass. With the one-time payment option, there is no activation fee. The rules page says the monthly subscription recurs until the account is validated or cancelled. The accounts page labels this option "Evaluation: one-time eval fee", while its FAQ describes a monthly subscription.

The rules page lists these activation fees, each paid once per account: Express to Live $83 (25K), $149 (50K and 100K) and $169 (150K); Fundamental and Premium $149 (50K and 100K) and $169 (150K). The homepage configurator showed a $149 activation fee for the 25K Express to Live, which conflicts with the $83 on the rules page.

When we captured the pages, the price configurator was showing a limited-time promotion and a discount-code price. Next to it, it showed the price without a code. Examples: the 25K Express to Live one-time payment was shown as "$277 without code" and the 100K Express to Live one-time payment as "$900 without code". We did not capture a full price list for every size. A help-centre article lists one-time prices under older account names ("25K Static", "Swing"), so we have not used it for prices.

If you fail an evaluation, you can buy a reset or wait 30 days for an automatic reset. The Terms list reset prices of $40 (50K), $64 (100K) and $104 (150K) for Fundamental and Premium. They also say no reset is available for 10K Drawdown or Express to Live evaluations.

The rules page says: "All subscriptions are final. No returns, refunds or exchanges."

Express to Live. The drawdown is static and never trails. The liquidation level is the starting capital minus the static drawdown, for example $24,500 on the 25K. There is no consistency rule, no minimum number of trading days and no daily loss limit. News trading is allowed. Maximum size is 2, 5, 7 and 9 E-mini contracts (20, 50, 70 and 90 micros) for the four sizes.

Fundamental. The drawdown is end-of-day (EOD) trailing. It is recalculated at the end of each session (10:00 PM UTC+2) from realised profits and does not change during the day. On funded accounts it stops trailing at $50,100 for a 50K and $100,100 for a 100K. All positions must be closed before the end of the trading day. Instruments must be traded within CME Globex hours, Sunday to Friday 11:00 PM to 9:59 PM UTC. Maximum size is 10, 14 and 17 E-minis (100, 140 and 170 micros).

Premium. Premium uses the same EOD trailing drawdown as Fundamental and the same contract limits. Positions may be held overnight and over the weekend. The rules page says the CASH account is funded one trading day after the evaluation is passed.

30% consistency rule. On Fundamental and Premium CASH (funded) accounts, no single day's profit may exceed 30% of total profit. It is calculated over at least four trading days. The rule does not apply to the evaluation stage of those programmes, or to Express to Live. If your best day is too large, the rules page says you can keep trading to raise your total profit.

Days and limits shown elsewhere. The Fundamental and Premium tables also list no daily loss limit. Fundamental CASH accounts require 10 minimum trading days. The accounts page comparison table shows 1 minimum trading day for the Express to Live evaluation. The rules page and the Terms both say 0, and we have used that figure.

The rules page says scalping, intraday and swing trading are all allowed, as long as the trading is legitimate and can be replicated on the firm's corporate accounts. Its rules and Terms also set these limits:

• Robots and fully automated trading are not permitted. Semi-automated software is allowed only if you actively monitor and manually adjust all trades.
• High-frequency trading is prohibited under the Terms.
• "Lottery" trading is discouraged. The rules page gives two examples: opposite positions across several accounts on the same asset, and full-margin trading during high-volatility economic announcements.
• The Terms say you can never be a buyer in one account and a seller in another at the same time, including with other users.
• You must trade the most recent, highest-volume contract. Spread trading between two maturities of the same product is forbidden.
• One-tick arbitrage on Treasury bonds is prohibited on evaluation and funded accounts. Treasury traders must ask for CBOT market data to be activated.
• Economic news trading is permitted on all account types.
• Copy trading is allowed within the account limits. Third-party copiers are used at your own risk.

Account limits. The rules page allows up to 5 Premium CASH, 5 Fundamental CASH and 5 Express to Live (CASH or LIVE) accounts. 150K Fundamental and Premium CASH accounts count double, and there is no limit on evaluation accounts. The limits apply per person, address and IP address. The Terms set a total of 15 funded accounts per tax household, company or internet connection.

The pages disagree on the Express to Live 150K. The rules page says it can be "cumulated freely" within the five-account Express to Live limit. The Terms say "E2L 150K is limited to 1 account per User." Check with the firm before you buy more than one.

Fundamental and Premium. Fundamental needs 10 trading days between payouts and Premium needs 5. The rules page sets the minimum withdrawal at $500. The Terms say it "can never be less than $1,000". We have used the rules page, which matches the help centre. In the Terms, the withdrawal rules cover Fundamental and Premium CASH accounts only. One passage requires 10 distinct trading days before a first withdrawal, while another gives 5 trading days for Premium accounts, so the two passages differ for Premium.

Fundamental pays a fixed 80/20 split. Premium uses a progressive split: 75% on the first payout, then 80%, 85% and 90%, and 100% from the fifth payout onwards. The rules page says the split applies to the payout cap for the account size.

Validated payouts are credited to the Phidias Wallet. From the Wallet you can withdraw to a Rise (RISEWORKS.io) account or buy new evaluations. The Wallet cannot be funded by external deposit. The firm says 90% of payouts are processed in under 30 minutes and always within 24 hours. It also says no payout has ever been denied. We have not verified either claim.

Express to Live. The standard withdrawal rules do not apply. Once you pass, you reach the profit target again on the CASH account and click "Switch to Live". A fixed bonus is then credited to the Wallet (subject to the 80/20 split), and the account becomes a LIVE account with a LIVE credit.

For a LIVE account reached through Express to Live, the rules page lists daily payouts with no maximum ($500 minimum), an 80/20 split and a $122 monthly fee shown as waived. Overnight holds are not permitted unless agreed.

LIVE from Fundamental or Premium. You become eligible for review after 5 successful payouts or $100,000 in cumulative profits across all accounts. Meeting a threshold does not guarantee a LIVE account, and Express to Live payouts do not count. Under the Terms, you cannot refuse a transition once the firm decides on it, and the split on LIVE becomes 80/20 whatever level you reached on CASH. A trader can hold only one LIVE account.

Further LIVE levels. The rules page describes ELITE LIVE (60 days live and a $125,000 balance, adding $25,000) and MASTER LIVE (120 days live and $250,000, adding $50,000) for traders already on LIVE.

Premium Cash Account Reset. If a funded Premium CASH account is liquidated, it can be reset once for $399 (50K), $499 (100K) or $599 (150K), within 24 hours of liquidation.

Under the Terms, the platforms you can use depend on your account's data feed. Rithmic works with Quantower, MotiveWave, ATAS, Sierra Chart and Bookmap. dxFeed works with DeepCharts. NinjaTrader and Tradovate run on NinjaTrader/Tradovate accounts, and NinjaTrader and Tradovate are not compatible with the Rithmic feed. Platform costs are paid by the trader. The help centre also lists TradingView. The accounts page says Tradovate has native TradingView integration.

The authorised product list covers CME Group futures in stock indices, interest rates, currencies, micro Bitcoin and Ether, agriculture, energy and metals, plus Eurex contracts such as DAX and Euro-Bund (via dxFeed and Tradovate). Under the Terms, Express to Live trades CME, CBOT, NYMEX and COMEX.

Commissions are charged per side and differ by broker. For example, ES costs $2.20 per side on Rithmic and $2.68 on Tradovate/NinjaTrader. MES costs $0.79 and $0.75. The firm calls these amounts indicative.

Non-professional traders get CME top-of-book data free during the evaluation. Rithmic market depth costs $16 a month per exchange or $46 a month for all four. On a LIVE account with NinjaTrader/Tradovate, CME data fees are debited from the trading account, and other exchanges cost $156 a month each.

The site footer says the website is owned and operated by Phidias Propfirm LTD, registered in Gibraltar. The Terms are governed by Gibraltar law, and the services are only for people over 18.

Asked whether it is regulated, the help centre (in French) says the firm is a private trading company that holds a futures account with a regulated broker. It adds that no specific regulation applies to its activities because it is not a financial institution. The Terms say the firm "reserves the right to replicate" users' trades on real markets. They also say users who receive income are treated as individual entrepreneurs, not employees.

The rules page lists restricted countries (shown in the Verified Facts table) and says the list is not exhaustive. It says Canada is not restricted. Canadian LIVE accounts on Tradovate/NinjaTrader are limited to Ontario residents, and other Canadians are onboarded through Dorman Trading with Rithmic data.

The help centre says subscriptions are paid by bank card. A chargeback leads to immediate deactivation and a permanent ban.

The homepage claims more than $15 million paid to traders and 50,000+ traders funded. These are the firm's figures. The accounts page FAQ refers to data from 25,000+ traders.

Express to Live is built around a small static drawdown, no minimum days and a fixed bonus on the way to LIVE. Positions must be closed every day. Fundamental is for intraday traders who close before the bell. Premium is the programme that allows overnight and weekend holds and offers the rising split.

Traders who rely on fully automated strategies should note the ban on robots. Funded Fundamental and Premium traders should note the per-period payout caps and the 30% consistency rule.

MyPropGenius Rating: 3.0/5 — its Transparency Index score of 61/100 ÷ 20, rounded down

The rating measures how openly Phidias Propfirm discloses its rules, pricing, payouts and ownership (our Transparency Index methodology). It does not measure how likely you are to pass or be paid.