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Explore all marketsThis Phidias Propfirm review covers a futures prop firm that has grown quickly on one promise: daily payouts with very few evaluation rules. Phidias is registered in Gibraltar, sells three account types (Express to Live, Fundamental and Premium), accepts US and Canadian traders, and runs on Rithmic, Tradovate, NinjaTrader and DeepCharts.
The marketing says no consistency rule, no profit buffer and uncapped daily payouts. The rulebook is narrower than that. Funded Fundamental and Premium accounts have a 30% consistency rule, a balance threshold before you can withdraw and a cap on every payout cycle. Fully automated trading is banned. The cheapest account has a $500 loss allowance. This review sets out each point using Phidias's own rules, accounts and terms pages, read on November 12, 2026.
Prices change with promotions almost weekly, so check the official site before you buy.
Highlights of this article
- Phidias is futures-only: CME, CBOT, NYMEX and COMEX products plus some EUREX contracts, with no forex CFDs, stocks or crypto
- Three programs: Express to Live (static drawdown, from $88 a month or $277 one-time at list price), Fundamental and Premium (end-of-day trailing drawdown, 50K to 150K)
- No daily loss limit and no evaluation consistency rule on any program, but funded Fundamental and Premium accounts have a 30% consistency rule
- Payouts on funded Fundamental and Premium accounts are capped at $2,000 to $2,750 per cycle, with a $500 minimum
- Fully automated trading is not permitted, and the household and shared-IP account limit is the most common reason for complaints on Trustpilot (3.1 out of 5, November 2026)
What Is Phidias Propfirm?
Phidias Propfirm is a proprietary trading firm that funds futures traders through simulated evaluation accounts. The site footer names the company as Phidias Propfirm LTD, registered in Gibraltar, and its terms are governed by Gibraltar law. The official site does not name its founders or the year it started. Its homepage says "3 years operating" and "$15M+ paid", which are company figures, not audited ones.
The path is the same on every program. You pass a one-step evaluation, trade a simulated funded account that Phidias calls a CASH account, and can later be moved to a LIVE account cleared through Dorman Trading. Phidias does not sell an instant funding account.
Phidias Account Types and Prices
Phidias sells three programs. Each can be bought as a monthly subscription or as a one-time payment (Phidias calls it OTP).
- Express to Live: a static drawdown that never trails, with no daily loss limit, no minimum days and no consistency rule. The loss allowance is small.
- Fundamental: an end-of-day trailing drawdown, 3 minimum evaluation days, intraday only, 80% split.
- Premium: the same drawdown as Fundamental, 1 minimum evaluation day, overnight and weekend holding allowed, and a split that rises with each payout.
| Program | Size | Monthly | One-time | Activation fee (monthly route) |
|---|---|---|---|---|
| Express to Live | 25K | $88 | $277 | $83 |
| Express to Live | 50K | $278 | $723 | $149 |
| Express to Live | 100K | $318 | $900 | $149 |
| Express to Live | 150K | $398 | $1,125 | $169 |
| Fundamental | 50K | $164 | $580 | $149 |
| Fundamental | 100K | $273 | $723 | $149 |
| Fundamental | 150K | $420 | $863 | $169 |
| Premium | 50K | $329 | $723 | $149 |
| Premium | 100K | $411 | $900 | $149 |
| Premium | 150K | $570 | $1,123 | $169 |
List prices from Phidias's accounts page, November 12, 2026. Almost nobody pays list. On the day we checked, the site was running a code for up to 85% off one-time payments and up to 60% off monthly evaluations, and the homepage advertised the 25K Express to Live at $55 one-time. Treat the table as the ceiling and check the live price.
The one-time route has no monthly fee and no activation fee. The monthly route bills until you cancel and charges the activation fee when you pass. Fundamental and Premium evaluation resets cost $40, $64 or $104 by size, or you can wait 30 days for an automatic reset. All sales are final.
Profit Targets and Drawdown by Program
No Phidias program has a daily loss limit. The only loss rule is the maximum drawdown.
Express to Live (static drawdown)
| Account | Profit target | Static drawdown | Max size |
|---|---|---|---|
| 25K | $1,500 | $500 | 2 minis / 20 micros |
| 50K | $2,500 | $650 | 5 minis / 50 micros |
| 100K | $3,500 | $800 | 7 minis / 70 micros |
| 150K | $4,500 | $1,000 | 9 minis / 90 micros |
Fundamental and Premium (end-of-day trailing drawdown)
| Account | Profit target | Trailing drawdown | Max size |
|---|---|---|---|
| 50K | $4,000 | $2,500 | 10 minis / 100 micros |
| 100K | $6,000 | $3,000 | 14 minis / 140 micros |
| 150K | $9,000 | $4,500 | 17 minis / 170 micros |
Fundamental needs at least 3 trading days in the evaluation and Premium needs 1. Express to Live has no minimum. Phidias states no time limit on any evaluation.
How the Phidias Drawdown Works
Phidias uses two different models, and the difference matters more than the price.
On Fundamental and Premium, the drawdown is end-of-day trailing. The floor is recalculated at the session close on realised profit only and stays fixed during the day. On funded accounts it stops trailing at $100 above the starting balance, so a 50K account locks at $50,100. If you want the mechanics in detail, see our guide to EOD trailing vs tick-by-tick drawdown.
On Express to Live, the drawdown is static: it never moves. That sounds friendlier, and for a trailing-drawdown hater it is. The catch is the size. A 25K account gives you $500 of room against a $1,500 target, a ratio of 1 to 3. On the 150K account it is $1,000 against $4,500. You also have to hit the target twice: once in the evaluation and again on the CASH account before you can switch to LIVE.
Consistency Rule and Payout Caps
There is no consistency rule in any evaluation, and none on Express to Live. Funded Fundamental and Premium accounts are different: no single day can exceed 30% of your total profit, with at least 4 trading days counted. This is the gap between the homepage and the rulebook.
| Funded account | Balance needed to withdraw | Cap per payout cycle | Days between payouts |
|---|---|---|---|
| Fundamental 50K | $52,600 | $2,000 | 10 trading days |
| Fundamental 100K | $103,700 | $2,500 | 10 trading days |
| Fundamental 150K | $154,500 | $2,750 | 10 trading days |
| Premium 50K | $52,600 | $2,000 | 5 trading days |
| Premium 100K | $103,700 | $2,500 | 5 trading days |
| Premium 150K | $154,500 | $2,750 | 5 trading days |
The minimum payout is $500 on the rules page. After a payout, the balance must stay at or above $50,100, $100,100 or $150,100. Phidias markets "no profit buffer", but the withdrawal threshold works like one: on a 50K account you need $2,600 of profit before the first dollar comes out.
Profit Split and the Move to Live
The split depends on the program:
- Fundamental: 80% to the trader.
- Premium: 75% on the first payout, then 80%, 85% and 90%, and 100% from the fifth payout. The percentage applies to the capped amount, so 100% of a 50K payout is still at most $2,000 per cycle.
- Express to Live: when you switch to LIVE you receive a fixed bonus ($1,000, $2,000, $3,000 or $4,500 by size, described as subject to the 80/20 split) plus a LIVE credit of $500 to $2,000. That credit is the entire loss allowance of the LIVE account, which trades 2 to 5 contracts. LIVE payouts are daily, with a $500 minimum and no cap, at 80%.
Fundamental and Premium traders become eligible for LIVE after 5 successful payouts or $100,000 in cumulative profit. Phidias calls the move "strictly discretionary", and its terms say the trader may not refuse it. On LIVE the split is 80%, even for a Premium trader who had reached 100%.
Payouts go to a Phidias Wallet and then out through Rise. Phidias claims an average of 30 minutes and "always within 24 hours". That is the company's claim.
Trading Rules: News, Bots, Copy Trading and Overnight
- News trading: allowed on all accounts. Using full margin during high-volatility announcements is listed as a prohibited "lottery" practice.
- Bots and algos: not permitted. The rules say "the use of robots, fully automated trading algorithms, or any other form of automated trading is not permitted." Semi-automated tools are allowed if you actively monitor and manually adjust every trade. High-frequency trading is banned.
- Copy trading: allowed between your own accounts, within the account limits (5 Premium, 5 Fundamental and 5 Express to Live funded accounts). Our guide to prop firms that allow copy trading compares this with other firms.
- Overnight and weekend holding: allowed on Premium only. Fundamental must be flat by 9:59 PM UTC, and Express to Live does not permit overnight positions.
- Account limits apply per household: the limits count accounts by household, company, address and shared IP. Accounts over the limit "will be lost" with no payment.
If you run an EA or a bot, Phidias is not the firm for you. See prop firms that allow EAs and trading bots instead.
Platforms and Restricted Countries
Phidias supports Rithmic (R|Trader Pro and compatible platforms), Tradovate and NinjaTrader (with TradingView charts), and DeepCharts on dxFeed. CME top-of-book data is included in the evaluation. Rithmic market depth costs $16 a month per exchange. On a LIVE Tradovate or NinjaTrader account, non-CME exchange data costs $156 a month each.
US and Canadian traders are accepted. Phidias restricts about 60 countries, including Nigeria, Pakistan, the Philippines, Indonesia, South Africa, Kenya, Russia, Romania, Bulgaria, Croatia and Malta. The minimum age is 18. Check the full list in the terms before buying.
Is Phidias Propfirm Legit?
Phidias is a real, operating firm with a named legal entity, a public rulebook and a clearing relationship for its LIVE accounts. It is not regulated, and its evaluation and CASH accounts are simulated.
Its Trustpilot profile is mixed: 3.1 out of 5 across 333 reviews when we checked on November 12, 2026, with 59% of reviews at 5 stars and 34% at 1 star. That split is unusual. Most firms cluster at one end.
The praise is consistent: fast payouts, often the same day, quick human support and a cheap entry price. The complaints are consistent too:
- Accounts closed or payouts refused after a payout request, with Phidias citing the household, address or shared-IP account limit
- Refund requests refused (all sales are final)
- Traders moved to LIVE without asking for it, as the terms allow
- Slow or unanswered support tickets after a dispute
Two more things are worth knowing. First, Phidias's own pages disagree with each other in places. The terms say a withdrawal "can never be less than $1,000" while the rules page says $500, and the About page still describes a LIVE threshold that the rules page calls deprecated. Second, the homepage shows a 4.6 star badge that does not match the 3.1 on Trustpilot. When a firm's documents conflict, ask support in writing which rule applies before you buy. Our guide to how to evaluate a prop firm covers the checks to run.
Phidias Pros and Cons
Pros
- No daily loss limit on any program
- No consistency rule in any evaluation, and none at all on Express to Live
- Static drawdown option that never trails
- Premium split rises to 100% from the fifth payout
- Overnight and weekend holding on Premium
- US and Canadian traders accepted, with a wide platform choice
Cons
- Futures-only, with no forex CFDs, stocks or crypto
- Fully automated trading is banned
- 30% consistency rule on funded Fundamental and Premium accounts
- Payouts capped at $2,000 to $2,750 per cycle, with a balance threshold before the first one
- Express to Live loss allowance of only $500 to $1,000, and the target must be hit twice
- LIVE move is discretionary, cannot be refused and resets a Premium trader to 80%
- Mixed Trustpilot record (3.1 out of 5) and official pages that contradict each other
Who Phidias Suits
Phidias fits a discretionary intraday futures trader who wants no daily loss limit, trades small size and withdraws often in modest amounts. Premium is the cleaner program if you hold overnight and can live with the 30% rule and the per-cycle cap. Express to Live suits only a trader with very tight risk per trade, because $500 of room on a 25K account is 2 or 3 losing trades on a single mini.
It is the wrong firm if you automate, share a household or an IP address with another trader, want large single withdrawals, or trade anything other than futures. For a wider shortlist, see the best prop firm for futures and our ranking of the best prop firms.
The Alternative: Multi-Asset With a Static Drawdown
If the static drawdown is what draws you to Phidias but the $500 allowance, the bot ban and the futures-only model do not fit, Velotrade makes different trade-offs. It is an educational, simulated evaluation service covering crypto, forex, stocks, index ETFs (SPY, QQQ, IWM) and commodities on one DXtrade account. The drawdown is static on every plan, fixed from your starting balance, and it is set as a percentage of the account: 3%, 7% or 10% depending on the plan. There is no consistency rule, no evaluation time limit, and news trading, weekend holding, EAs and your own API are allowed.
Plans start at $40 for the $5K PRO 1-Step (3% max drawdown, 3% daily loss) and run to $200K; the CLASSIC 1-Step (7% / 4%) starts at $67 and the CLASSIC 2-Step (10% / 5%) at $54. The split is up to 90% from the first payout: 80% by default, with 90% as a paid add-on. Velotrade accepts US traders. Payouts are first after 14 days, then weekly, with no payout cap. It has a daily loss limit, which Phidias does not, and it does not offer exchange-traded CME futures, so a pure ES or NQ trader belongs at a futures firm.
For other futures firms, see the BluSky review, the Tradeify review, the Apex Trader Funding review, the Topstep review and the Lucid Trading review.
Last updated: November 2026. Phidias changes prices, discount codes and thresholds often. Confirm current terms on Phidias's own site before purchasing.
Sources
- Phidias Propfirm homepage: phidiaspropfirm.com
- Phidias accounts and pricing: phidiaspropfirm.com/accounts
- Phidias trading rules, payout policy, platforms and restricted countries: phidiaspropfirm.com/rules
- Phidias terms of use: phidiaspropfirm.com/tou
- Phidias reviews: Trustpilot, read November 12, 2026
How Phidias Propfirm compares
This review is published by Velotrade, so here is where the two differ, including where Phidias Propfirm is stronger.
| Rule | Phidias Propfirm | Velotrade |
|---|---|---|
| Markets | CME, CBOT, NYMEX, COMEX and some EUREX futures | Crypto, forex, commodities, index ETFs, stocks |
| Max drawdown | Static $500 to $1,000 (Express to Live) or end-of-day trailing | Static on every plan: 3%, 7% or 10% of the account |
| Consistency rule | None in evaluation; 30% on funded Fundamental and Premium | None at any stage |
| Bots and EAs | Fully automated trading not permitted | EAs, bots and your own API allowed |
| Profit split | 80%, or 75% rising to 100% on Premium | 80%, or 90% from the first payout with a paid add-on |
Where Phidias Propfirm is stronger
- No daily loss limit on any program
- Exchange-traded futures, which Velotrade does not offer
Frequently Asked Questions
About the author
Vittorio De Angelis
Executive Chairman
Former equity-derivatives trader at JP Morgan, Dresdner Kleinwort and Bank of America in London. Later Head of Brokerage at a global broker in Hong Kong.
Velotrade was founded in Hong Kong in 2016 by a team from JP Morgan, Dresdner Kleinwort and Bank of America, has facilitated over $2.5 billion in trade-finance payments, and has been featured in Bloomberg, the Financial Times, the Wall Street Journal and on Nasdaq. Its prop trading evaluations are simulated and educational.
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