Kamal Lattai
Founder & Lead Analyst
October 6, 20269 min read
Quick Summary
Phidias Prop Firm sells futures evaluations only, in three families: Express to Live ($25K to $150K, static drawdown of $500 to $1,000) and Fundamental and Premium ($50K to $150K, end-of-day trailing drawdown of $2,500 to $4,500). Each family is sold on an evaluation route, with an activation fee on passing, or in one payment without it; the list prices on the official pages checked on 2026-09-30 run from $88 to $1,125. No plan has a daily loss limit. Express to Live pays a fixed bonus on Switch to Live, while Fundamental and Premium pay on request.
01Company Background
The site phidiaspropfirm.com describes itself as owned and operated by Phidias Propfirm LTD, registered in Gibraltar, and its Terms of Use are governed by Gibraltar law. The figures below come from the official pages checked on 2026-09-30.
The Terms of Use separate three kinds of account. An evaluation account tests trading skills in a virtual space with virtual currency. A Cash account is also a virtual currency account, but its performance is paid by the company and profit can be withdrawn under set conditions. A Live account is funded with real money from the company's own funds, and the company reserves the right to replicate user trades on real markets.
Evaluation accounts are unlimited in number, while funded accounts are capped at 15 in total: up to 5 Fundamental Cash, 5 Premium Cash and 5 Express to Live accounts. The Rules page also publishes a restricted-country list and calls it non-exhaustive.
02Challenge Types & Pricing
Express to Live is the compact family, in four sizes: $25K, $50K, $100K and $150K. The profit targets are $1,500, $2,500, $3,500 and $4,500 against a static drawdown of $500, $650, $800 and $1,000, and position limits run from 2 E-minis or 20 micros up to 9 E-minis or 90 micros. There is no daily loss limit, no consistency rule and no minimum number of trading days. The evaluation route adds an activation fee on passing; the one-time payment route does not.
Fundamental and Premium share the same targets and drawdown: $4,000, $6,000 and $9,000 profit targets on $50K, $100K and $150K accounts, with an end-of-day trailing drawdown of $2,500, $3,000 and $4,500 and position limits of 10 E-minis or 100 micros, 14 or 140, and 17 or 170. Neither has a daily loss limit or a consistency rule in the evaluation. They differ in minimum trading days (3 on Fundamental, 1 on Premium) and in holding rules: Fundamental positions are closed before the end of the trading day, while Premium allows overnight and over-week positions.
Both are sold monthly or in one payment. The monthly evaluations are billed every month until the account passes, carry an activation fee on passing and have no maximum number of days; the one-time payment includes the evaluation and the Cash account.
03Trading Rules Analysis
Two drawdown mechanics coexist. On Express to Live the drawdown is static: it never trails, and the account is liquidated when the balance reaches or falls below it. On Fundamental and Premium it trails the end-of-day balance high, calculated at the end of each trading day and fixed during the day. On a funded account it stops at $50,100 for a $50K account and at $100,100 for a $100K account.
Holding rules depend on the family. Express to Live does not allow overnight or over-week positions. Fundamental asks for every position to be closed by 9:59 PM UTC. Premium positions can stay open overnight and over the week, within the lot size of the account.
News trading is authorized on all accounts. Robots and fully automated algorithms are not permitted; semi-automated software is, as long as the trader actively monitors and manually adjusts every trade. Copy trading is allowed within the firm's guidelines, and third-party copy trading software may be used. The authorized products are futures on CME, CBOT, NYMEX, COMEX and Eurex: equity index, interest rate, currency, agriculture, energy and metal contracts, with Micro Bitcoin and Micro Ether.
The platform follows the data feed, and the feeds are not interchangeable. Rithmic serves Quantower, MotiveWave, ATAS, Sierra Chart and Bookmap; dxFeed serves DeepCharts; NinjaTrader and Tradovate accounts work through a NinjaTrader or Tradovate subscription, and the configurator lists TradingView alongside them.
04Payout Process
Express to Live pays in a single step. After the evaluation is passed the account becomes a funded Cash account with the same rules, and the trader reaches the profit target again on it. Pressing Switch to Live then credits a fixed bonus to the Phidias Wallet at an 80/20 split: $1,000 on a $25K account, $2,000 on $50K, $3,000 on $100K and $4,500 on $150K. The account converts to a Live account with a credit of $500 to $2,000 by size, and no withdrawal request or balance threshold applies to this step. The Live account keeps an 80% split and pays every day with no maximum, from a $500 minimum payout.
Fundamental and Premium pay on request from the Cash account, after 10 trading days since the previous request on Fundamental and 5 on Premium. A day counts only if it closes up by at least $150 on a $50K account, $200 on $100K or $250 on $150K. The balance must reach $52,600, $103,700 or $154,500 before a request and cannot fall below $50,100, $100,100 or $150,100 afterwards; each payout period is capped at $2,000, $2,500 or $2,750. On the Cash account no single day may exceed 30% of total profit, measured over at least 4 trading days.
The split is 80% on Fundamental. Premium uses a progressive split of 75%, 80%, 85% and 90% on payouts one to four, and 100% from the fifth. Withdrawals go only to a Rise account, through the Phidias Wallet, and the firm states that 90% of payouts are processed in under 30 minutes and always within 24 hours. A move from Fundamental or Premium to a Live account is at the discretion of Phidias, with eligibility for consideration after 5 successful payouts or $100,000 of cumulative profits across all accounts; the Live split is 80%.
05True Cost Analysis
On the evaluation route, Express to Live costs $88, $278, $318 and $398 for $25K, $50K, $100K and $150K, paid once, with an activation fee of $83, $149, $149 and $169 charged once on passing. Fundamental costs $164, $273 and $420 a month and Premium $329, $411 and $570 a month, billed every month until the account passes or is cancelled, with an activation fee of $149, $149 and $169 on passing.
The one-time payment route replaces those pieces with one amount that includes the evaluation and the Cash account: $277, $723, $900 and $1,125 on Express to Live, $580, $723 and $863 on Fundamental, and $723, $900 and $1,123 on Premium. The activation fee on this route is $0.
Resets on the monthly Fundamental and Premium evaluations are $40, $64 and $104 for $50K, $100K and $150K. A Premium Cash account has its own reset, available once per account within 24 hours after liquidation, at $399, $499 and $599.
Trading costs come on top: commissions per side are $2.20 for ES and $0.79 for MES on Rithmic, and $2.68 and $0.75 on Tradovate or NinjaTrader, amounts the Rules page calls indicative. CME top-of-book data is free for a non-professional trader; Rithmic depth costs $16 a month per exchange or $46 for all four.
06Who Should Use Phidias Prop Firm?
Express to Live fits a trader who wants a rule-light evaluation: no minimum trading days, no daily loss limit, no consistency rule and a static drawdown from $500 to $1,000. It suits someone who does not hold positions overnight or over the week and who values a fixed bonus on Switch to Live over a request-based payout schedule.
Fundamental fits a trader who prefers a monthly fee and an 80% split, and is comfortable with an end-of-day trailing drawdown, 10 trading days between requests and a 9:59 PM UTC closing time. Premium fits a trader who holds positions overnight or over the week, wants requests every 5 trading days and values a split that reaches 100% from the fifth payout.
The one-time payment routes suit a trader who prefers to pay once with the Cash account included. Before buying, check the restricted-country list and the pairing of platform and data feed.
07Alternatives
My Funded Futures, already on PropFirm Key, lists accounts up to $150K with a 90% profit split and prices from $77, on NinjaTrader, Tradovate, TradingView, Quantower, Volumetrica and ATAS. Phidias also lists $150K as its largest size; its split is 80% on Fundamental, Express to Live and Live accounts; on Premium it starts at 75% and reaches 100% from the fifth payout, with prices from $88.
Topstep lists a maximum of $150K, a 100% split and prices from $49, with TopstepX as its platform. Phidias sells each family on two payment routes and a choice of Rithmic, dxFeed or NinjaTrader and Tradovate connections.
Bulenox lists up to $250K, a 100% split and prices from $115, on NinjaTrader, Rithmic R|Trader Pro, Sierra Chart, Bookmap, Quantower and ATAS. At Phidias, Sierra Chart, Bookmap, Quantower and ATAS come through the Rithmic data feed.
Final Verdict
Phidias Prop Firm fits futures traders who want to choose between a static-drawdown family (Express to Live) and two end-of-day trailing families (Fundamental and Premium), and between a fee-plus-activation route and a single payment. The prices, targets and drawdowns in this review come from the official pages checked on 2026-09-30.
Check at checkout which route is selected, whether the plan is billed monthly, which data feed and platform you will use, whether your country is on the restricted list and which holding rule applies to the family you pick.
Use code PFK at checkout. PropFirm Key is an affiliate partner of Phidias Prop Firm: links on this page can earn a commission at no extra cost to you.