Phidias PropFirm Rules Explained: Drawdown, Profit Targets & Time Limits (2026)

Phidias PropFirm Rules Overview

Phidias PropFirm is a futures-focused proprietary trading firm founded in 2023 and based in Gibraltar. Unlike traditional prop firms that charge ongoing monthly fees or subscription costs, Phidias operates on a one-time evaluation model. Traders pay a single upfront fee to access an evaluation account, and if they pass the trading objectives, they gain access to a funded live account with profit-sharing rights of up to 90%. The firm emphasizes speed (fast 1–4 hour payouts via proprietary Phidias Wallet), flexibility (news trading allowed, no monthly payout caps on live accounts), and low barrier to entry for experienced futures traders.

The evaluation model eliminates recurring subscription costs—you pay once to prove your trading ability, then earn on performance rather than losing money to monthly fees. This makes Phidias particularly attractive to active traders, scalpers, and day traders who can generate consistent profits and want to scale capital quickly.

Account Types and Pricing

Phidias PropFirm offers four account tiers, each with a specific starting balance and one-time evaluation fee. All pricing below is a single upfront cost (not monthly):

Account Tier	Starting Balance	One-Time Evaluation Fee	Best For
Static 25K	$25,000	$55	Beginners, scalpers testing the evaluation
Fundamental 50K	$50,000	$116	Intermediate traders with proven track records
Fundamental 100K	$100,000	$145	Experienced traders scaling capital
Fundamental 150K	$150,000	$173	Professional traders managing large positions

Key Notes:

• No recurring fees: The amounts above are one-time evaluation costs. Once you pass evaluation and move to a live funded account, there are no monthly subscriptions, data feed charges, or activation fees.
• No free tier: Phidias does not offer a paper trading or demo phase; you begin on the evaluation account immediately upon payment.
• Platform compatibility: All accounts require a Rithmic-compatible trading platform, which may require additional setup for traders unfamiliar with the Rithmic ecosystem.

Profit Targets

Phidias PropFirm does not publish exact profit target percentages in publicly available materials. However, like most prop firms, evaluation accounts typically require traders to hit a percentage-based profit threshold (commonly 8–12% of starting balance) before graduation to a live funded account. The firm's evaluation model is designed to test consistency and risk management over a defined period rather than requiring a single large win.

For specific profit target figures for each account tier, traders should contact Phidias directly or review their terms during account signup, as targets may vary by account type and market conditions.

What we know:

• Evaluation phase focuses on consistency and risk discipline, not just profit generation.
• Once targets are met, traders graduate to live funded accounts with up to 90% profit splits.
• No monthly fee structure means traders can take their time reaching targets without losing money to subscription costs.

Drawdown Rules

Phidias PropFirm uses End-of-Day (EOD) drawdown calculation, which is more trader-friendly than traditional intraday drawdown rules. Here's what that means:

End-of-Day (EOD) Drawdown Logic:

• Daily intraday losses that recover before market close do not count against your drawdown limit. Only losses that remain on your account at the end of the trading day trigger drawdown.
• This allows traders to scalp, swing trade, and recover from intraday dips without immediately hitting drawdown restrictions.
• A trader can have a -$5,000 intraday loss, recover to +$2,000 by close, and only the close-of-day equity matters for drawdown tracking.

Specific Drawdown Limits:

• Daily Drawdown Limit: Not explicitly published in available materials; traders should confirm with Phidias during onboarding.
• Maximum Drawdown (Trailing): The firm uses a trailing equity model, meaning your drawdown limit resets as you make profits. This is more forgiving than a static maximum drawdown.
• Reset Conditions: Equity resets daily at market close. Reaching your max drawdown on a given day disables trading until the next market open.

Key Advantage for Scalpers: The EOD drawdown model is one of Phidias's most attractive features for day traders and scalpers. You can afford intraday volatility as long as you close profitable or near-flat.

Trading Restrictions

Futures-Only Instrument:

• Approved: Futures contracts (micro, E-mini, and standard contracts), commodities futures, and potentially forex futures.
• NOT Approved: Spot forex, individual stocks, stock options, spot cryptocurrency, or leveraged ETFs.
• This restriction is a dealbreaker for traders focused on stocks or options but ideal for futures specialists.

News Trading:

• Permitted on all account types (evaluation and live funded). Traders can trade through economic news, FOMC announcements, and other high-impact events without restrictions.
• This is notable because many prop firms restrict news trading during evaluation phases.

Expert Advisors (EAs) and Algorithmic Trading:

• Specific EA policies are not detailed in available materials. Traders should confirm with Phidias whether algorithmic trading and automated strategies are allowed.
• Many prop firms restrict or prohibit EAs on evaluation accounts; Phidias's policy should be verified upfront.

Copy Trading:

• Copy trading and signal-following strategies are typically not permitted on prop firm accounts. Phidias likely maintains similar restrictions but should be confirmed.

Lot Size and Leverage Limits:

• Maximum lot sizes are not specified in available materials. Traders will receive these limits during account setup based on account tier and platform configuration.

Weekend and Overnight Holdings:

• Futures markets trade nearly 24/5, so weekend restrictions are less relevant. However, overnight holding policies (if any) should be confirmed with Phidias.

Profit Split and Payouts

Profit Share Structure:

• Live Funded Accounts: Traders keep up to 90% of profits with no payout caps.
• Evaluation Accounts: No profit share; evaluation is pass/fail (graduation or restart).

Payout Processing:

• Speed: Payouts process in 1–4 hours, significantly faster than industry standard (typically 24–72 hours).
• Method: Payouts are processed via Phidias Wallet, the firm's proprietary withdrawal system.
• Frequency: Daily withdrawals available on live funded accounts with no caps on profit withdrawals.
• Minimum Withdrawal: Not specified in available materials; confirm with Phidias.

CASH Accounts vs. Profit Accounts:

• CASH Accounts have monthly payout caps that restrict earning potential until the account reaches $75,000 equity. This is a limitation for traders seeking unlimited payouts from day one.
• Profit Accounts (funded accounts) have no caps on profit withdrawals, making them preferable for consistent traders.

What Happens to Losses:

• Traders are responsible for losses up to their drawdown limit. If you hit maximum drawdown, trading is disabled and you may need to restart evaluation or accept account closure.

Scaling Plan

Phidias's scaling mechanism is not detailed in publicly available materials. However, most prop firms with successful traders follow one of two models:

Expected Scaling Model (based on industry norms):

• Phase 1 – Evaluation: Prove profitability on your chosen account tier ($25K–$150K).
• Phase 2 – Live Funded Account: Upon passing evaluation, you receive access to the funded account with 90% profit split.
• Phase 3 – Scaling: After consistent performance on the live account (typically 30–90 days), traders may be eligible to increase account size. This could mean graduating to the next tier or increasing the existing account by 25–50%.

What we know:

• The firm's description mentions support for traders managing multiple funded accounts, suggesting some form of scaling is available.
• Specific scaling thresholds, timelines, and performance requirements should be confirmed directly with Phidias.

Recommendation: Ask Phidias during onboarding how their scaling plan works, what profitability metrics trigger account increases, and whether you can hold multiple accounts simultaneously.

Phidias PropFirm Rules vs Competitors

To understand how Phidias stacks up, here's a comparison with two leading competitors in the futures prop firm space:

Rule Category	Phidias PropFirm	Competitor A (Typical)	Competitor B (Typical)
Eval Fee (25K)	$55 (one-time)	$99–$199	$50–$75 + monthly
Monthly Subscription	None	$19–$50/mo	$29–$99/mo
Drawdown Model	EOD (intraday recoveries OK)	Intraday hard stop	EOD
Profit Split (Live)	Up to 90%	70–80%	50–70%
Payout Speed	1–4 hours	24–48 hours	48–72 hours
News Trading	Allowed	Restricted on eval	Allowed
Instruments	Futures only	Forex + futures	Forex, crypto, futures

Phidias's Competitive Advantages:

• Lowest cost for serious traders: One-time eval fees with zero monthly subscriptions save hundreds per year.
• Fastest payouts: 1–4 hours is industry-leading; most competitors take 24–72 hours.
• EOD drawdown: More forgiving than hard intraday stops, allowing scalpers to recover from temporary losses.
• Highest profit split: Up to 90% is competitive and better than many alternatives at 70–80%.

Phidias's Disadvantages:

• Futures only: Excludes forex spot, stock, and options traders.
• Limited track record: Founded in 2023; most competitors have 5–10+ years of operational history.
• Rithmic platform requirement: May add friction for traders unfamiliar with the Rithmic ecosystem.
• CASH account payout caps: Monthly caps until reaching $75K equity create earning ceilings for smaller accounts.

Red Flags and Fine Print

1. Firm Age and Track Record

• Phidias was founded in 2023, making it a relatively new player. Traders should research long-term sustainability and investor backing. Newer firms are higher-risk for account holds, policy changes, or operational issues.

2. Gibraltar Jurisdiction

• The firm is based in Gibraltar, which has less regulatory oversight than EU or US-based firms. Verify fund segregation and client protection policies before depositing evaluation fees.

3. Rithmic Platform Lock-In

• Requiring Rithmic-compatible platforms limits choice. Some traders prefer cTrader, ThinkorSwim, or other platforms. Confirm Rithmic is accessible and compatible with your trading setup before paying evaluation fees.

4. CASH Account Payout Caps

• Monthly withdrawal caps on CASH accounts until reaching $75K equity is restrictive for high-frequency scalpers with early profits. If unlimited payouts matter, target the Profit Account tier instead.

5. Proprietary Wallet Dependency

• Payouts use Phidias's proprietary wallet rather than standard banking. Confirm withdrawal processes, conversion rates, and any associated fees. Also verify the wallet is available in your country.

6. Limited Public Rule Documentation

• Profit targets, exact drawdown percentages, lot size limits, and scaling thresholds are not published. This is common but risky—ask for written terms before funding evaluation accounts.

7. Evaluation Restart Policies

• If you fail evaluation (hit max drawdown), what's the restart cost? Can you try again immediately or must you wait? Confirm policies before attempting evaluation.

8. News Trading Caveat

• While news trading is permitted, confirm the firm doesn't have hidden restrictions around specific events (e.g., FOMC, Fed announcements) or position sizing during volatile periods.

9. Founder Background

• Phidias was founded by French traders. Research their credentials and whether they're transparent about their own trading history. Prop firms with proven trader founders tend to have better rule clarity and trader-friendly policies.

Bottom Line

Phidias PropFirm is an attractive choice for experienced futures traders seeking low entry costs, fast payouts, and trader-friendly rules (especially EOD drawdown). The zero monthly fee model and 90% profit split are competitive. However, the futures-only restriction, new firm status, and limited rule transparency warrant caution. Verify all terms directly with Phidias, and ensure their platform and payout methods work for your trading setup before committing evaluation fees.

For a detailed comparison of rules across multiple firms, see our TradingToolsHub Prop Firm Comparison Guide. For more on Phidias PropFirm, check the full firm review.