Phidias Propfirm is a relative newcomer to the futures proprietary trading space, establishing itself as an intriguing choice for traders seeking a streamlined path to funding. Founded by two experienced French traders, the prop firm takes a refreshingly straightforward approach, offering a single-step evaluation process that attracts day traders from across the globe.
This focus on simplicity helps Phidias Propfirm foster an environment where traders can excel without unnecessary barriers. They provide access to crucial data feeds and valuable educational resources, aiming to support traders on their journey to success in the futures market. Unlike many competitors, Phidias Propfirm sets itself apart by maintaining a transparent fee structure, avoiding hidden costs or restrictive practices.
The prop firm’s approach encourages traders to demonstrate their skills without additional stress, aiming to facilitate their progression toward achieving profit targets, passing the evaluation, and ultimately securing a funded account. In summary, Phidias Propfirm offers a clear and accessible path for traders to advance in the futures trading world.
Phidias Propfirm has designed a versatile suite of accounts tailored to a variety of trading approaches, accommodating swing traders with the flexibility to maintain positions overnight and across weekends. This adaptability is a crucial asset for traders with longer-term strategies. To promote sound risk management, Phidias Prop Firm employs a trailing drawdown system that is assessed at the end of each trading day. This provides traders with the reassurance and stability they need, allowing them to pursue their trading objectives with greater confidence.
This review of Phidias Propfirm explores the range of services they offer, providing an in-depth analysis of their evaluation programs, rule sets, trading platforms, and other critical aspects that shape the user experience.
- Choose your Account
Select your account size (Fundamental or Swing 50K / 100K) - Take the Evaluation
Follow the rules and pass the challenge - Score a Live Funded Account
Receive your funded futures trading account and start your career as a prop trader
Choose Your Account and Evaluation: Select the account size and evaluation method that align with your trading objectives and style. Keep in mind, this flexibility does not extend to the Master account.
Subscription for Success: For a recurring monthly fee, you gain access to critical data feeds, advanced tools, and comprehensive services, all crafted to support your journey toward trading success. This subscription remains active until your account is validated or you choose to cancel.
Start Your Evaluation: After subscribing, expect an email with your Rithmic credentials, granting you entry to the evaluation stage. Use your preferred trading platform that integrates with Rithmic data feeds and start your challenge. This is your gateway to live funded trading.
Hit Your Targets, Respect the Rules: Focus on building your profits while complying with the trading rules. Pay special attention to the maximum authorized loss, as violating this limit could jeopardize your progress.
Second Chances: If you make a misstep during the evaluation, there’s no need to worry. You have the option to purchase a reset to start over immediately, or you can wait 30 days for an automatic reset (provided the evaluation fails).
Unlock Live Funded Trading: Once you successfully complete the evaluation—requiring at least 7 trading days—you earn the Phidias-CASH account, giving you access to real trading capital. The prop firm will conduct an audit within 24-72 business hours, eliminating the need for you to reach out to support.
Phidias presents two distinct evaluation models, each catering to a different trading approach, objective, and financial context. This flexibility allows for a tailored experience that matches traders’ individual goals, with rewards based on their demonstrated performance. The Fundamental Account is crafted for those new to trading, providing a user-friendly entry point, while the Swing Account is optimized for those who prefer a longer-term, seasonally based trading strategy.
Phidias Prop Firm offers two core account types—the Fundamental and the Swing—both designed to meet a range of trading needs with initial funding levels of $50,000 and $100,000. To access this capital, traders must meet profit targets that vary depending on the account size. Unlike many competitors, Phidias Propfirm does not enforce daily loss limits. Instead, it uses a trailing end-of-day (EOD) drawdown system set at 5% for the $50,000 and $100,000 accounts, calculated at the end of the trading day based on the day’s highest or lowest profit and loss. Additionally, traders must complete a minimum of 7 trading days to qualify for a funded account.
Phidias Prop Firm also offers an elite Master Account, targeted at experienced professionals. This top-tier account has a capital base of one million US dollars, the largest among the firm’s offerings. It’s designed to cater to advanced traders seeking to engage in major global exchanges such as CME, CBOT, COMEX, NYMEX, and others, including Eurex. The Master Account isn’t just a funded account; it’s a gateway to high-level trading and exclusive opportunities that aren’t readily accessible elsewhere.
Further distinguishing Phidias Propfirm from its competitors is the provision of futures options trading, allowing traders to diversify their strategies and engage in sophisticated hedging techniques. Given the magnitude of capital and market access, the Master Account comes with strict rules and is reserved for traders who have proven their expertise in both performance and risk management. It embodies a level of privilege and prestige that reflects the firm’s commitment to attracting top-tier talent.
Phidias Prop Firm takes transparency in fee structures to a whole new level. Unlike many firms that obscure their costs with hidden fees or unexpected charges, this company keeps everything out in the open. Their clear and straightforward fee breakdown (detailed in the table below) outlines how monthly costs are determined, whether by account size or evaluation model, leaving clients with no surprises.
| Account Type | Monthly Fee (EUR) | Account Size (USD) | Max Intraday Contracts | Profit Target (USD) | Max Drawdown (USD) | Reset Fee (EUR) |
| Fundamental ($100k) | 79 | 100,000 | 14 (140 micros) | 6,000 | 3,000 | 75 |
| Fundamental ($50k) | 49 | 50,000 | 10 (100 micros) | 4,000 | 2,500 | 45 |
| Swing ($50k) | 149 | 50,000 | 10 (100 micros) | 4,000 | 2,500 | 79 |
| Swing ($100k) | 249 | 100,000 | 14 (140 micros) | 6,000 | 3,000 | 99 |
| Master ($1M) | 1,999 | 1,000,000 | 50 (500 micros) | 200,000 | 50,000 | 999 |
Additional Details:
- All accounts use Rithmic data feed.
- Automatic renewal every 30 days.
- 7 trading days minimum to switch to a funded account.
- Instant setup.
- 10K Drawdown Challenge ($10k account) – separate pricing with details not available yet.
Note:
- This table excludes the 10K Drawdown Challenge due to missing pricing details.
- Refer to Phidias Propfirm for full details and any restrictions that may apply.
Fundamental Accounts
Swing Accounts
Master Account
End Of Day Rules (EOD)
In the evaluation phase at Phidias Propfirm, the firm’s commitment to thorough monitoring and risk management becomes clear. They implement a comprehensive approach to tracking your trading performance, applying specific risk control measures to guide you toward success. Their system incorporates authorized drawdown limits and end-of-day trailing strategies, ensuring that traders not only stay within defined risk parameters but also have the opportunity to thrive. This strategy creates an environment where traders can focus on their skills, knowing the firm has structured a safety net to support their journey.
Allowed Drawdown Management: The drawdown limit for your trading account is calculated at the end of each trading day, with no adjustments made during the day. If your account balance falls below the allowed drawdown limit, the account will be closed. To monitor your account’s performance, you can use the Phidias trading dashboard on Trader Pro, which provides real-time data on your trades. The drawdown limit is recalculated each time your account achieves a new profit peak at the end of the day, based on realized gains. However, unrealized gains during the trading day aren’t considered in this calculation. This structure ensures that the drawdown reflects actual profits and helps you maintain consistent risk management.
Trailing End of Day: Trailing end of day protects your profits. As your capital grows, this feature automatically adjusts your stop-loss to lock in profits. The daily stop-loss level is adjusted at the end of each trading session, which ends at 22:00 UTC+2. For instance, if your starting capital is $ 50,000, you will be entitled to a stop-loss of $ 2,500 for the day. You will not be able to exceed $ 47,500 in capital, otherwise you will be liquidated. If you end the day at +$ 500 in profit, your stop-loss will automatically be adjusted to -$ 2,500 from your new balance at the end of the day, bringing your liquidation price to $ 48,000 instead of $ 47,500. Furthermore, if your profits continue to climb the next day, the stop-loss automatically adjusts again, giving you even more protection.
Please Note: Your liquidation price remains fixed for the day if your liquidation amount is at $ 47,500 at the start of the day. Regardless of the gains made during this day, you will only be liquidated when your capital reaches this limit of $ 47,500. For instance, if you start your day with $ 50,000 in capital and your account liquidation value is at $ 47,500, even if you make $ 1,000 in profit in the morning, your EOD stop loss for the day will remain set at $ 47,500. This entitles you to a maximum loss of $ 3,500 for the rest of the day.
Phidias Prop Firm has put these mechanisms in place to help you manage risk while providing an opportunity to grow as a funded trader.
Here is an outline of the critical trading rules that Phidias Propfirm requires its account holders to follow:
Holding Positions Overnight and Over-Weekend
- Fundamental Accounts: All positions must be closed by the end of the trading day (daily). Holding any position overnight or over the weekend is strictly prohibited. Failing to adhere to this policy and keeping a position open past market close leads to immediate disqualification.
- Swing and Master Accounts: Traders are allowed to maintain positions beyond the daily trading session, extending across weekends, depending on their account size and designated lot parameters.
Trading Hours (Fundamental Accounts Only)
- Fundamental account holders face trading hour restrictions, set according to UTC, while swing accounts offer more flexibility. To access detailed trading schedules, users can visit the CME Globex website. (https://www.cmegroup.com/trading-hours.html).
Trading During Economic News Events
- Evaluation Period: The evaluation permits traders to engage in trading activities even during high-impact news events.
- Funded Accounts (Phidias-CASH & Master): Trading is prohibited during the minute leading up to and following certain significant economic news releases, such as:
- Oil Inventories (Oil Stocks)
- Non-Farm Payrolls (NFP)
- Consumer Price Index (CPI)
- Producer Price Index (PPI)
- Federal Open Market Committee (FOMC) Meetings
This rule is designed to mitigate risk during times of heightened market turbulence, typically triggered by significant economic news releases.
Trading Commissions
The number of commissions charged per asset is accessible through your RITHMIC trader pro interface. Right-click on your account, select the “Risk Management” tab, and you’ll find commission details for all available products.
Number of Accounts and Copy Trading
- Maximum allowed accounts per tax household/business/internet connection: 20 funded accounts + 1 Master account + 1 Full Margin 10K account
- Copy trading using third-party platforms is allowed, but within the account limits.
- Phidias Propfirm is not responsible for issues with third-party platforms.
General Trading Rules
- Apply a defined and well-disciplined trading system with clear entry/exit rules.
- Maintain consistency in position sizes, trading days, and risk management.
- Avoid erratic trading or “re-stacking” contracts to reach specific goals.
- No automated trading or high-frequency trading (HFT) allowed.
- Refrain from seeking exceptional trades or excessive risk-taking.
- Don’t base trades on economic news announcements.
- Treat staff, partners, and other traders with respect and professionalism.
- Maintain a minimum balance of $20,000 in your Master account for withdrawals.
- Trade the highest volume and most recent contract for your chosen instrument.
- Spread trading between different maturities of the same product is prohibited.
Master Account Specifics
- Account size: $1 million USD
- Maximum drawdown: $50,000 (EOD)
- No minimum or maximum trading days to validate the account
- No limits on withdrawal amount from day + 1 after funding
- No minimum trading day requirement for withdrawal requests
- Scalable profit split up to 90% for the trader
- Position size limit: Up to 50 E-mini-intraday contracts (500 micros)
- EOD drawdown trailing evaluated daily. Account closure occurs if losses reach $50,000.
- Options trading on futures contracts with long positions allowed.
- Ability to sell options unlocked when profits exceed $200,000.
- Specific exchange fees may apply.
- No resets available for Master accounts.
- Regularity, Consistency, and Coherence Policy applies (excluding news trading).
10K Drawdown Challenge Account
- Accessible only through participation in the 10K Drawdown challenge.
- One-month challenge with a €19 registration fee.
- Account size: $10,000 USD
- Maximum drawdown: $10,000 (EOD)
- Position size: Up to 25 E-mini contracts intraday
- Overnight/Over-week positions allowed up to 5 E-mini contracts
- Multiple registrations allowed to increase success chances.
- Challenge entries close 5 days before the end date.
- Check the 10K DRAWDOWN page for start dates.
- Challenge winner receives a real 10K DRAWDOWN CASH account.
- Ranking system based on best performing trading account (only one per trader counts).
- Various discount codes awarded to participants based on ranking.
Additional Notes
- All subscriptions are final with no refunds.
- Phidias Propfirm disclaims all warranties or representations regarding service availability or information provided.
- You are solely responsible for any damages arising from your use of the service.
Withdrawals
Phidias Prop Firm understands the importance of your financial freedom. Here’s how payouts work with your Phidias-CASH account:
Minimum Withdrawal: you can request a withdrawal after a period of 10 trading days if your account balance meets or surpasses the minimum threshold of $1,000. Withdrawal requests must be made between the 20th and 25th of each month for payment at the end of the month.
Account minimums: Account minimum thresholds vary based on the size of your account. Find below the current minimum thresholds:– $50,000 account – 52 600 $ (2600$)
– $100,000 account – 103 700 $ (3700$)
– 1,000,000 Master Account (See specific Master Account rules in section 16. Master Account rules)
– 10K DRAWDOWN account (see specific 10K DRAWDOWN account rules in section 18.10K DRAWDOWN account rules)
If your account balance drops below the minimum threshold, this isn’t necessarily a problem, but you won’t be able to submit a withdrawal request until the balance meets or exceeds that minimum again.
Fees & Requirements
Withdrawal Fees:
- First 3 Months: 20% commission on withdrawals.
- After 3 Months: 10% commission on withdrawals.
Minimum Trading Activity:
- You must complete a minimum of 10 trading days between each request during the first three months of account activity.
- Their system considers a day complete after the market closes.
Minimum Withdrawal Amounts & Frequency:
First 3 Months:
- Minimum withdrawal: $1,000
- Minimum account balance after withdrawal must be maintained.
- Maximum withdrawal limits apply (see below).
- You can request a withdrawal once per month.
After 3 Months:
- No minimum withdrawal amount.
- No maximum withdrawal limit (as long as minimum balance is maintained).
Maximum Withdrawal Limits (First 3 Months):
- $50,000 Account: Maximum withdrawal of $2,000 per month.
- $100,000 Account: Maximum withdrawal of $2,500 per month.
- Multiple Accounts: You can withdraw the maximum from each account per month.
Important Notes:
- These withdrawal rules are strictly enforced and cannot be overridden.
- You are responsible for any taxes associated with your Phidias Propfirm earnings.
- Phidias Propfirm cannot provide tax advice.
- Payment options include PayPal, bank transfer, and ACH (default).
Phidias Propfirm enforces a strict no-refund policy across all subscription services. The following summarizes the key details:
- Automatic renewals: Subscriptions automatically renew at the end of each term unless you cancel beforehand.
- No refunds for any reason: Once you purchase a subscription, there are no refunds, even partially. This includes situations where you:
- Decide not to use the service
- Believe the service did not meet your expectations
- Want to return “intellectual property” provided with the subscription
- Chargebacks and disputes: If you initiate a chargeback or payment dispute, Phidias Prop Firm will:
- Deactivate your membership immediately
- Permanently ban your username
- Refund any future purchases you make
- Disclaimer: Phidias Prop Firm offers no guarantees about the reliability, functionality, or accuracy of the service or its content. Users should be aware that engaging with the service is entirely at their own discretion and risk.
- Liability: Phidias Propfirm disclaims liability for any damages resulting from the use of its services.
Phidias Prop Firm operates as a reputable private trading company that manages futures trading accounts through a regulated broker-dealer. By focusing exclusively on futures, it avoids dealing with other asset classes, allowing it to operate without needing extensive financial regulation or licensing. Phidias Propfirm’s traders earn compensation based on their success in managing trading accounts, while the company itself shoulders the financial risks involved in this high-stakes environment. Moreover, Phidias collaborates with well-known trading platforms, which maintain strict compliance with regulations designed to ensure the safety of users’ data and funds.
Phidias Futures offers a selection of trading platforms designed to meet the needs of traders with varying skill levels and preferences. Their platform suite includes Bookmap, Quantower, Atas, and Sierra Chart. Bookmap is highly favoured among both novice and experienced futures traders due to its intuitive design, comprehensive features, and wide-ranging compatibility.
Note that Phidias accounts cannot be connected to the NinjaTrader trading platform. This is because NinjaTrader has ceased offering services to new proprietary trading firms, with plans to launch its own prop firm provider ecosystem. Until at least summer 2024, Phidias will focus solely on supporting existing trading platforms. However, platforms compatible with Rithmic feeds, such as Sierra Chart, Quantower, Atas, and Bookmap, can still be used with Phidias Propfirm accounts.
For users who choose to use Sierra Chart, Quantower, or any of the other compatible platforms, Phidias offers comprehensive support. The prop firm’s support team has in-depth expertise, particularly with Sierra Chart, ensuring that members receive thorough guidance for platform setup and configuration. This level of specialized assistance helps traders to smoothly transition and fully utilise the tools available through Phidias.
Futures Tradeable Assets
Phidias Prop Firm provides traders with a wide range of futures contracts across popular indices like the E-mini-S&P 500 (ES), Nikkei (NKD), E-mini Nasdaq 100 (NQ), Mini-DOW (YM), Micro E-mini S&P 500 (MES), and Euro FX (6E).
Beyond these core offerings, the firm provides an even broader range of trading options, encompassing energy, metals, treasury bonds, forex, and cryptocurrency futures. This comprehensive lineup allows both novice and experienced traders to find contracts that align with their strategies and market interests. The variety offered by Phidias Propfirm ensures that traders have the flexibility to explore and diversify their portfolios, making it a dynamic and adaptable environment for futures trading.
Stock Indices
- E-mini-S&P 500 (ES)
- Nikkei NKD (NKD)
- E-mini-NASDAQ 100 (NQ)
- Mini-DOW (YM)
- Russell 2000 (RTY)
- Micro-E-Mini S&P 500 (MES)
- Micro-E-Mini Dow Jones (MYM)
- Micro-E-Mini Nasdaq-100 (MNQ)
- Micro-E-Mini Russel 2000 (M2K)
Interest Rate Futures
- Eurodollar (GE)
- 2-year note (ZT)
- 5-year note (ZF)
- 10-year note (ZN)
- 30-year bond (ZB)
- Ultra-t-Bond (UB)
Future Currencies and Cryptocurrencies
- $ Australian (6A)
- Livre sterling (6B)
- $ Canadians (6C)
- Euro FX (6E)
- Japanese Yen (6J)
- New Zealand Dollar (6N)
- Bitcoin Micro Futures (MBT)
- Ethereum Micro Futures (MET)
Agriculture
- Lean pigs (HE)
- Live cattle (LE)
- Feeder cattle (GF)
- Corn (ZC)
- Wheat (ZW)
- Soy (ZS)
Energy
- Crude oil (CL)
- Crude oil E-mini (QM)
- Natural gas (GN)
- E-mini-Natural gas (QG)
- Fuel oil (HO)
- Port of New York (RB)
- Crude micro-oil (MCL)
Metals
- Gold (GC)
- Silver (SI)
- Copper (HG)
- Platinum (PL)
- Palladium (PA)
- Micro-Gold (MGC)
Market Data Access During Evaluation
During the evaluation period, non-professional traders are granted complimentary access to top-of-book data for the CME.
Market Depth Options
For more in-depth market analysis, you can purchase market depth data for the following exchanges:
- COMEX
- NYMEX
- CBOT
- CME
There are two options available:
- Individual Exchange: Purchase market depth for a single exchange at €12 per month.
- All Exchanges Bundle: Gain access to market depth for all four exchanges for a discounted price of €35 per month.
Both options can be purchased through the dedicated section in your member area.
Rithmic Market Depth Add-on (Optional)
If you already subscribe to Rithmic data through a separate provider, you may be able to activate market depth as an add-on module directly within their platform. Keep in mind, however, that pricing for these add-ons can differ, so it’s essential to check with your Rithmic provider for specific details.
Additional Notes:
- Consider your trading needs when choosing between individual exchange purchases or the bundle.
- If you’re unsure about Rithmic compatibility or pricing, contact your Rithmic provider directly.
If you want a specific product that is not available, feel free to contact Phidias Propfirm.
Pros
- Lucrative profit split of up to 90/10
- Offers swing trading accounts
- Ability to manage up to 22 live funded accounts
- Straightforward 1-Step evaluations with relaxed rules, including no intraday drawdown
- Transparent pricing, including activation and reset fees — unlike others, there are no hidden fees
- 24/7 and efficient customer support via multiple channels
- Access to a wide range of futures tradable assets
- Over-night & Weekend positions allowed for “Swing & Master” accounts
- Trading the news is allowed
- Copy trading allowed
- Low all-in costs for traders
Cons
- Offering future only
- Recurring monthly fee
- Does not offer educational contents
- Minimum of 7 trading days
Conclusion
Phidias Prop Firm has made an impressive entry into the futures trading prop industry, offering a compelling option for both beginners and seasoned traders looking to access additional capital and pursue financial success in the futures market. This prop firm distinguishes itself with its unique 1-Step evaluation, which features no intraday drawdown and requires a minimum of just seven trading days, creating an appealing pathway for aspiring funded futures traders. The potential to earn a profit share of up to 90% is another major draw, allowing traders to retain a significant portion of their profits, adding a substantial boost to the overall trading experience.
The firm’s commitment to competitive pricing and transparency in its evaluation programs is a welcome addition, fostering a sense of trust and reliability within its trading community. With these factors in play, Phidias Prop Firm has the potential to make a significant impact in the increasingly crowded world of futures proprietary trading. This firm is one to watch for traders seeking a fair and user-friendly platform to support their futures trading endeavors.