Simulated evaluations and instant-funding accounts for classic markets, CME-group futures and Hyperliquid perpetuals
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Upcomers sells simulated funded-trader programmes in three product lines: classic markets (gold, currencies, indices and stocks), futures on CME-group exchanges, and perpetuals on Hyperliquid. Its Terms of Service name Royal Flow - FZCO, a company in the United Arab Emirates, as the provider. All accounts are simulated: the firm says trading takes place on demo accounts and that the one-time fee is the only money you can lose.
For classic markets, the challenge page lists three evaluations: Ash (half step), Thunderbolt (one step) and Phoenix (two steps). Each is advertised with 1:100 leverage, no time limit and up to a 100% profit split. The firm also sells instant-funding accounts such as Vanguard, where you start funded without an evaluation. The plan cards we saved showed a 90% reward share, and the Terms say that, where offered, traders choose a split (currently 80%, 90% or 100%) when ordering, with the price reflecting the split. The 90% in our facts table is the split shown on the standard plan cards; the firm advertises up to 100%, which the Terms say is chosen at checkout, where offered, at a fee that reflects the split.
Much of the detailed rulebook sits in help-centre articles. We saved the help-centre collection pages, which list article titles, and the Company Details article, but not the rules articles themselves. Where a rule appears only as a title, we say so.
Everything in this review comes from Upcomers' own web pages, saved on 7–8 October 2026. Rules and prices change, so check the firm's site before you buy.
| Highest profit split | Up to 90% 1 Firm's wording: “Account rules · Reward share90%Daily Drawdown4%Max Drawdown7%” |
|---|---|
| Account types | 1-Step evaluation, 2-Step evaluation, Instant funding (no evaluation) 123 |
| Markets | Forex, Futures, Crypto, Stocks, Indices, Commodities, Metals 123 |
| Platforms | MetaTrader 5, Match-Trader, Upcomers X, TradeLocker, cTrader 12 |
| 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 | Accepted (check any conditions on the linked page) 1 |
The challenge page groups the evaluations into three rule sets: Classic, Turbo and Legacy.
| Rule set | Offered on | Payment | Time to pass | Max funding |
|---|---|---|---|---|
| Classic | All products | Pay once | Unlimited | Up to $1.5M |
| Turbo | Ash and Thunderbolt | 50% now, 50% when funded | Time-limited phases | Up to $1.5M |
| Legacy | Phoenix and Futures | Pay once | Unlimited | Up to $200K |
The page describes the Classic rule set's drawdown only as "Relaxed", Turbo's as "Time-boxed" and Legacy's as "Fixed", without percentages. The headline on the same page says "No time limits" and "Pay once - no subscriptions", while the table also says Turbo has time-limited phases and is paid half up front and half on funding. We treat the Turbo row as the more specific statement.
| Evaluation | Phases | Profit target | Leverage | Time limit | Other points the page states |
|---|---|---|---|---|---|
| Ash | Half step | 2% | 1:100 | None | Funding up to $1,000,000 |
| Thunderbolt | 1 | 5% | 1:100 | None | One phase |
| Phoenix | 2 | 4% per phase (8% total) | 1:100 | None | Static drawdown; no minimum trading days |
The challenge page does not show prices or drawdown percentages for Ash, Thunderbolt or Phoenix; the help centre has a separate rules article for each, which we did not capture. The help centre lists many other programme names as well, including Oracle, Ember, Vanguard, Horizon and Odyssey. The Terms name a different set (Thunderbolt, Ascended, Astral and Vanguard). We used the challenge page for the current line-up.
The home, futures and perpetuals pages each had a plan card set to the Vanguard instant account, with a higher reference price, a "Save" amount and a "Limited offer" label, so the prices below are promotional, not list prices. The classic-markets prices were shown in US dollars; the futures and perpetuals pages were saved in pounds sterling. The site describes the fee as one-time. The Terms say fees are set mainly in USD and depend on the profit split chosen.
| Account size | Classic markets (USD) | Perpetuals (GBP) | Futures (GBP) |
|---|---|---|---|
| $2K | $15.90 | £16.90 | – |
| $5K | $31.90 | £29.00 | – |
| $10K | $47.90 | £43.90 | – |
| $25K | $79.90 | £79.00 | £139.00 |
| $50K | $119.90 | £129.00 | £219.00 |
| $100K | $239.90 | £209.00 | £369.00 |
| $150K | – | – | £499.00 |
| $200K | $399.90 | £359.00 | £629.00 |
| $300K | $559.90 | £499.00 | £879.00 |
| $400K | – | £629.00 | £1,119.00 |
| $500K | $839.90 | – | – |
| $800K | $1,199.90 | – | – |
| $1M | $1,439.90 | – | – |
On the futures card the activation fee was shown as free. The Terms allow a full refund within 14 days of purchase only if no trade has been placed; after the first trade the fee is non-refundable. A challenge not activated within 30 days is suspended.
The rules below are those shown on each product page's plan card for the Vanguard $100K instant account. Other programmes and sizes may differ.
| Rule | Classic markets (home page card) | Perpetuals card | Futures card |
|---|---|---|---|
| Reward share | Not shown on card | 90% | 90% |
| Daily drawdown | Not shown on card | 4% | $2,000 |
| Max drawdown | Not shown on card | 7% | $3,000 (end of day) |
| Consistency | Not shown on card | 20% | 20% |
| Minimum trading days | None | 6 days | 5 days |
| Min. profit for reward request | 1% | 1% | 1% |
| Other | Time limit unlimited | Time limit unlimited; leverage 1:10 | Max 10 mini / 100 micro contracts |
Phoenix is described as having a static drawdown with a fixed boundary and no minimum trading days. The home page lists Ember as having no daily drawdown. The cards state that news trading, automated trading and weekend holding are allowed. General help-centre titles also refer to a "3% Rule" and a Dynamic Risk Shield, which we could not read.
Futures are offered as instant funding or a one-step evaluation, on accounts from $25K to $400K. The help centre lists three futures programmes: Thunderbolt Classic (one step), Vanguard (instant funding) and Horizon (one step). The futures page says the contract limit on a funded account is the same as in the evaluation. Futures help-centre titles refer to a daily drawdown with a 5 PM ET reset, a trailing drawdown called Dynamic Risk Shield, a maximum single-trade loss and a Best Day Rule. We could not see the figures behind these rules.
Perpetuals are sold as instant, one-step and two-step accounts from $2K to $400K. The perpetuals page also says leverage goes up to 25x: 10x on majors and indices, 8x on gold and oil, 4x on stocks and 25x on currency pairs. The home page describes perpetuals as "up to 10x leverage". The card figure of 1:10 and the 25x figure appear on the same page; we could not tell which accounts each applies to.
The Terms list prohibited trading strategies that apply to all virtual trading through the firm's services. They include:
The Terms also treat positions that are much larger than your other trades as a breach of risk management. Only one user profile per person is allowed. Penalties can include failing the challenge, removing trades, ending the contract or cutting leverage to 1:5.
The help centre's prohibited-strategies titles add grid trading, one-sided bets, the "Quick Strike Method" and "All or Nothing Trading". We did not see these articles.
Two points need care. The plan cards say news trading is allowed, but the Terms ban gap trading around major news. The cards also say automated trading is allowed, and the home page says the firm expanded automation across all supported platforms in June 2026; but the Terms ban high-speed or AI methods used to gain an unfair advantage, and that ban still applies to automated trading.
The plan cards show rewards "on demand". The futures page says you can request a reward whenever you meet the conditions, with no fixed schedule on Classic, and a $100 minimum reward. The challenge page says rewards are paid by bank transfer or crypto with "no fees, most approved in under an hour". The help centre, however, has articles titled "Payout Processing Fees" and "Crypto Payout Fee", which we could not read.
The payouts page says rewards are reviewed by an in-house risk desk and each comes with a certificate. The firm says it has paid out over $10.5M. The Terms say payouts are sent in USD unless stated otherwise, to an account in your own name. A returned payout that the firm agrees to resend costs a $50 fee. Identity verification is required before you join the trader programme and before any payout. Passing a challenge does not oblige the firm to offer you a trader-programme contract; the Terms say this is at its sole discretion.
The plan cards show a fee refund of "Up to 200%". The help centre has an article on a "200% Challenge Fee Refund", but we could not see the conditions.
Profit split: where offered, the Terms let you pick 80%, 90% or 100% at checkout, fixed for the life of the account; raising it later may cost an extra fee. The cards we saw showed 90%.
Scaling: the Terms cap allocation at USD 1,500,000 per person, but say a scaling plan can raise this to USD 4,000,000, subject to the scaling-plan terms on the website. We did not capture the scaling-plan terms.
The firm lists five platforms: MetaTrader 5, cTrader, TradeLocker, Match-Trader and its own Upcomers X. Upcomers X is a web-based platform for futures on CME, CBOT, NYMEX and COMEX. The futures page shows iOS and Android apps as "Soon". cTrader supports cBots written in C#. The help centre also has articles on Bybit and Volumetrica.
For classic markets, the home page says 1,300+ instruments across gold, currencies, crypto, indices, commodities and stocks; the same page's plan card says 1,200+ instruments. Futures cover CME, CBOT, NYMEX and COMEX contracts, with 50 instruments on the futures card. Perpetuals run on Hyperliquid's order book, with 120+ markets in crypto, US stocks, gold, oil, indices and FX, open 24/7. The help centre also has a Prediction Markets section, including an article titled "Prediction Markets Are Coming to Upcomers".
The Terms name Royal Flow - FZCO (UAE, licence 35886) as the provider. Site footers also name Upcomers Ltd. in Saint Lucia (registration 2025-00579) as the entity for trading platform operations, and a related company, UPCOMERS LTD, incorporated in Cyprus. The footer says the firm is headquartered in Dubai, with offices in Prague and Miami, and was founded by CEO Jakub Zeliska.
The Terms describe the firm as an "Unregulated Provider" and say it is not a brokerage and accepts no deposits. The Terms are governed by UAE law; a separate section for US residents provides for arbitration in New York. Users must be 18 or over and may not be nationals of, or live in, a country on the firm's Restricted Countries list. We did not capture that list.
The pages also differ on which platforms Royal Flow operates: the Terms say TradeLocker, the challenge page's footer says TradeLocker, Match-Trader and cTrader, and the help centre's Company Details page adds Bybit. That page (dated 16 June 2026) also calls payout certifications "hypothetical", while the main site's footer says reward figures reflect actual compensation paid.
Based only on the firm's own pages, Upcomers may suit:
It may not suit traders who hedge, use martingale methods or trade gaps around major news, all of which the Terms prohibit. Before buying a classic-markets evaluation, note that its drawdown figures and the payout-fee details sit in help-centre articles we could not see.
MyPropGenius Rating:
The rating measures how openly Upcomers discloses its rules, pricing, payouts and ownership (our Transparency Index methodology). It does not measure how likely you are to pass or be paid.
Its footer names each company with its jurisdiction and registration or licence number and states that all accounts operate in a simulated environment with no real capital at risk. Its Terms give a full refund within 14 days of purchase if no trade has been placed; once the first trade is placed the fee is non-refundable. Its Payouts page lists named traders with reward amounts, reward certificates and a '$10.5M+' paid-out total, but the page text shows no dates. The earliest Internet Archive (Wayback Machine) copy of upcomers.com is from 22 May 2003, and the firm's pages state no founding year, so we date its operating history from then.
Its Transparency Index score is 70/100 (Good). This review describes what the firm publishes; we do not verify payouts or test accounts.
Check the current rules and prices with the firm before you buy.
We have no commercial relationship with Upcomers. Links to its website are not affiliate links.
Upcomers advertises low profit targets and no time limits on its Classic evaluations, and offers futures and 24/7 perpetuals alongside classic markets. Its Terms are strict on hedging, gap trading and position sizing, and passing does not guarantee a trader-programme contract. Check the help-centre rules for your programme, and the final price at checkout, before buying.
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Find my matchScore changeRe-scored under Transparency Index standard v1.4, with evidence for every marker. Scores under the earlier version used other sources and are not directly comparable.
Before 68/100 under the earlier index, rating 3.4/5 , After 70/100 (Good), rating 3.5/5
We started tracking Upcomers on . Every change we record, for all firms.
Yes. The firm says all trading takes place in a simulated environment on demo accounts, and rewards are paid under its trader programme.
Where the option is offered, the Terms list 80%, 90% or 100%, chosen at checkout, with the fee reflecting the split. The plan cards we saw showed 90%.
The Classic rule set has no time limit. Turbo has time-limited phases.
The Terms allow a full refund within 14 days of purchase if you have not placed a trade. After your first trade the fee is non-refundable.
No. The Terms ban hedging within one account and across accounts.
MetaTrader 5, cTrader, TradeLocker, Match-Trader and Upcomers X (for futures).