Phidias propfirm logo png prop firm
Phidias propfirm logo png prop firm
Phidias propfirm logo png prop firm

Reviews

Phidias Propfirm Review 2024

Phidias Prop firm Review 2024

Overview

Phidias Prop Firm is a new player in the proprietary futures trading world. Founded by two professional French traders, this French prop trading firm offers a straightforward approach for futures traders worldwide. 

With a simple, one-step evaluation process, it has become a popular choice among day traders. 

The firm aims to help aspiring traders thrive in the futures market by providing data feeds and educational content. Unlike other industry players, Phidias Prop Firm seeks to offer trading conditions with no hidden fees or restrictions, allowing traders to showcase their skills in a safe environment, reach profit targets, pass the evaluation, and eventually earn a funded account.

The proprietary firm offers various accounts tailored to different trading styles. Swing traders are welcome, with the ability to hold positions overnight and over the weekend. 

To support informed risk management, Phidias Prop Firm has implemented an end-of-day drawdown calculation, providing traders with complete peace of mind in their pursuit of trading success.

This review of Phidias Prop Firm will explore the specifics of their services, highlighting their evaluation programs, rule sets, trading platforms, and more.

PHIDIAS PROPFIRM ACCOUNTS

Choose your account

Select your account size

(Fundamental or Swing 50K / 100K)





Pass the challenge

Follow the rules and validate your evaluation

Funded account

Phidias Prop Firm ensures transparency in its account offerings by clarifying that all client accounts, except for the MASTER account, are subject to discretionary position copying using Rithmic's R | API and TradeFollower™ software. While they manage risk internally, traders can rest assured that their performance and profits are honored regardless of whether positions are copied. 

This approach emphasizes Phidias' commitment to providing a fair trading experience while maintaining internal risk controls.

Phidias Prop Firm sets itself apart by offering complete autonomy to traders, recognizing that each trader’s style whether scalping, intraday, or swing trading reflects their individual strategy and personality.

They offer unrestricted access to a broad range of instruments, including Forex, indices, commodities, rates, and cryptocurrencies, provided trades align with market conditions and can be replicated on corporate accounts. 

This commitment to freedom is balanced with a firm stance against gambling behaviors, emphasizing that serious, rule abiding traders are the focus. In cases of repeated non-conforming behavior, Phidias reserves the right to reduce risk through measures such as removing positions or closing accounts. 

Their philosophy is clear, responsible trading leads to shared success, and Phidias is dedicated to supporting traders on their journey to profitability.

How Phidias Propfirm works

Phidias PropFirm bears the risk and shares the rewards. Trading with Phidias Propfirm is as easy as 1-2-3.

Inscription :

Register on the platform and choose a subscription via  registration form. You can buy your evaluation pack using any credit/debit card.

Connection to platforms :

Here is the full list of third-party trading platforms supported by Phidias Prop Firm.

Warning :

Phidias Propfirm accounts cannot be connected to the NinjaTrader platform. Ninja trader will no longer offer services to new propfirms. Until next summer, and will only offer services to existing propfirms. Ninja is in the process of creating its own propfirm provider environment. 

All platforms except Ninja Trader that support Rithmic feeds can be used with your Phidias Propfirm accounts (Sierra Chart, Quantower, Atas, Bookmap, etc.) Phidias pro-firm can help set up the platforms, and more specifically Sierra Chart, which the prop firm master very well with the members of the Phidias team.

Assessment phase:
At this stage, you trade according to your strategies, following the Phidias Propfirm guidelines set out in the valuation plan you have chosen.
Once you have reached your target, you will need to submit your account for validation, after which risk managers will review your account.

Become a Phidias CASH trader:

Once your trial account is validated and you have met the requirements, you can start earning money by trading on Phidias Propfirm accounts.

General rules

Choose your account size: 

You choose and purchase the account size that best suits your goals and trading style. Please note that this option does not apply to the master account.

Thereafter, the monthly subscription is recurring until the account is validated or canceled. This fee covers access to data feeds and a number of the prop firm tools and services to help you succeed.

Start the evaluation account: 

Once you have registered and paid the subscription fee, we will send you an automatic e-mail with your RITHMIC identifiers.  You can start your evaluation account via the trading platform of your choice (which supports the data feeds provided by RITHMIC). This is your first step towards live trading. 

Connexion guide

SierraChart Starter

Get your trading off to a flying start with SierraChart platform start-up guide and access the financial futures markets straight away!






Bookmap Starter

It's easy to get started trading with start-up help on the Bookmap platform and access the financial futures markets straight away!









Rithmic Starter

Start trading easily with the prop firm start-up help on the Rithmic platform and access the financial futures markets straight away!




Quantower Starter

Start trading easily with the prop firm start-up help on the Rithmic platform and access the financial futures markets straight away!






Reach your profit target without breaking any of the rules: the main objective is to make a profit while respecting Phidias propfirm trading rules. Keep an eye on your maximum authorised loss, as this is one of the most important criteria for success.

If, unfortunately, a rule is broken during the assessment, don't worry. You have the option to start a new assessment by purchasing a reset or wait 30 days after purchase for automatic account reset (reset only if assessment fails).

When you have successfully completed your trial account after the minimum 7 trading days, you will be eligible to obtain your Phidias LIVE account. This is the moment when your trading becomes real. From this point on, there is no need to email us or open a support ticket, as we will audit your account within 24-72 business hours.

End of Day rules (EOD)

In the evaluation phase at Phidias Propfirm, risk management is key to ensuring your growth as a trader.

They employ two key mechanisms:

Authorized Drawdown and Trailing End of Day, to safeguard your capital while giving you room to succeed.

Authorized Drawdown Management: 

Phidias calculates your drawdown at the end of each trading day. This means your drawdown limit remains fixed throughout the day, and only if your account balance exceeds this limit will you be liquidated. 

The smart part? Unrealized profits during the day don’t affect your drawdown. If you make gains, your drawdown is recalculated based on your end of day balance, giving you an extra layer of flexibility. 

For example, on a $50,000 account, if you reach a new profit peak at the end of the day, your drawdown adjusts based on that balance.

Trailing End of Day: 

Phidias automatically adjusts your daily stop-loss as your capital increases. For instance, if you start with $50,000 and have a daily stop-loss of $2,500, you won’t be liquidated unless your balance drops below $47,500. If you finish the day with a $500 profit, your new stop-loss adjusts upward, reducing your risk as you grow. This process repeats daily as you continue to make gains, giving you peace of mind and more control over your trades.

For challenge accounts, your drawdown remains consistent throughout the evaluation process, but for funded accounts, the drawdown stops trailing after reaching a fixed amount ($50,100 for a $50K account or $100,100 for a $100K account).

What’s great about Phidias is the fixed liquidation price for the day. If your liquidation amount is set at $47,500, it won’t change during the day, no matter how much you profit during trading. This allows you to take calculated risks without constantly worrying about sudden liquidation.

At Phidias Propfirm, these risk management tools give you the support you need to trade responsibly and grow. It’s all about helping you succeed while keeping your risks in check.

Commitment to Integrity and Regulatory Compliance

At Phidias Propfirm, the commitment to integrity and regulatory compliance is truly commendable. Their focus on adhering to both national and international regulations ensures a safe trading environment for all clients. 

However, it's essential to note that they currently cannot offer services in certain countries due to various legal considerations. 

This list can change at any time, either by regulatory request or the firm’s discretion. Phidias Propfirm makes every effort to comply with the regulatory requirements in each jurisdiction, which can lead to adjustments in their list of service countries.

The firm takes pride in maintaining high standards, which is crucial for providing safe and compliant trading services. For traders interested in understanding if their country qualifies, Phidias encourages direct contact for detailed information.

Phidias Propfirm also emphasizes regulatory compliance and security measures to protect their traders and operations. Here are some key reasons why certain regions may not be eligible for their services:

  1. Sanctions and Embargoes: Certain countries face international sanctions that prohibit financial transactions, thus limiting the services available to those regions.

  2. Management Capacity: In some areas, partners, brokers, or technical support companies may be unable or unwilling to open live accounts. This limitation can significantly impact the ability to effectively serve traders.

  3. Fraud Risk: Phidias Propfirm prioritizes security and fraud prevention, recognizing that some regions have a higher historical risk of financial fraud, including credit card fraud and identity theft. This proactive approach helps protect both traders and the firm.

  4. Services and Training: The commitment to high-quality services and training can sometimes be hampered by language barriers and a lack of effective communication. Phidias is actively working to expand their resources in various languages to better serve their traders in the future.

  5. Individuals on Sanction Lists: The firm also considers the backgrounds of individuals. Those with criminal records related to financial crime or terrorism, or who have previously breached contracts, may face restrictions.

While these geographic and individual restrictions may be disappointing for some, they are essential for ensuring the overall security, compliance, and quality of Phidias Propfirm's services. 

The firm is continually looking to improve its offerings and hopes to expand its reach to serve more countries in the future.

If you have questions or need further information about the availability of services in your area, Phidias Propfirm encourages you to reach out. They appreciate your understanding and interest in their commitment to integrity and excellence in trading.

Understanding Payments and Withdrawals

At Phidias Propfirm, the importance of financial flexibility for traders is clear, and they have structured their payment system to reflect that. 

Here’s what you need to know about how payments work on your Phidias-CASH account.

Minimum Withdrawal: 

One of the standout features is that you can request a withdrawal after just 10 trading days, as long as your account meets the minimum threshold. The minimum withdrawal is set at $1,000, which is reasonable for most traders.

Withdrawal Timing: 

To keep things organized, withdrawal requests must be made between the 20th and 25th of each month for payment at the end of the month. This structure helps traders plan their finances better.

Account Minimums: 

The minimum thresholds vary by account size. For example:

  • A $50,000 account requires a minimum balance of $52,600 before you can withdraw.

  • A $100,000 account needs to maintain $103,700.

If your balance falls below these minimums, you won’t be penalized, but you’ll need to reach that threshold again before making any withdrawal requests.

Processing Fees: 

It's essential to be aware of the associated processing fees. Initially, when you initiate a withdrawal, a 20% commission is deducted, leaving you with 80% of the withdrawal amount. After your third withdrawal, that commission drops to 10%. This progressive fee structure rewards traders who actively engage with the platform.

Withdrawal Conditions: 

For your first payout, there are specific conditions to meet. You must have made actual trades on at least 10 separate trading days before you can make your first payment claim. This requirement ensures that traders are actively participating and not just relying on passive income.

Moreover, during the first three withdrawals, there must be a minimum of 10 trading days between each request. It’s important to note that a trading day is considered complete only after the market closes, which adds a bit of complexity to the withdrawal timing.

Once you’ve completed three withdrawals, you can request withdrawals at any time, provided your account exceeds the minimum threshold. This flexibility is a significant advantage for active traders.

Maximum Withdrawal Limits: 

During the first three withdrawals, a cap is placed on the amount you can withdraw based on your account size:

  • $50,000 accounts can withdraw up to $2,000.

  • $100,000 accounts are limited to $2,500.

For traders with multiple accounts, you can withdraw the maximum from each account monthly, which can lead to substantial withdrawals if you manage multiple accounts.

Tax Considerations: 

It’s worth noting that Phidias Propfirm does not provide tax advice. Traders are advised to consult a tax professional regarding any tax-related questions.

Payment Options: 

Payments can be made via bank transfer or ACH, and Phidias is open to exploring other payment methods if needed, making it adaptable to different trader preferences.

Overall, Phidias Propfirm offers a transparent and structured payment process that aims to provide financial flexibility and security for traders. 

Their commitment to integrity and compliance, paired with their thoughtful approach to withdrawals, makes them a solid choice for traders seeking a supportive trading environment.

Refund policy

When it comes to subscription services at Phidias Propfirm, it’s crucial to understand their policies clearly, as they are quite strict. 

Here’s a breakdown of what you can expect:

Final Subscriptions: 

All subscriptions made are final. That means once you sign up and your payment goes through—whether through a credit card or cryptocurrency—there's no turning back. If you decide to cancel, you need to do so before your current subscription term expires, or it will automatically renew.

No Refunds:

This is a significant point for potential subscribers to note: there are absolutely no returns, refunds, or exchanges, partial or otherwise. Your purchase is non-refundable even if you don’t actively use the service. This is due to the nature of the services provided, which often include intellectual property that is accessible immediately upon payment.

"As Is" Service:

The services and content provided on the site are offered "as is" and "as available." This means you’re using them at your own risk. Phidias Propfirm explicitly disclaims any warranties, express or implied, regarding the availability or functionality of their site and services. So, if something doesn’t work as expected, they won’t be held liable.

Chargebacks and Membership Deactivation: 

A critical reminder is that if you initiate a chargeback or payment dispute, your membership will be immediately deactivated. This is not just a temporary setback—your username will be permanently banned from their authorized user database. This shows how seriously they take payment disputes.

Investigative Procedures:

If a chargeback is initiated, it will undergo a full investigation, and you won’t be able to make any further purchases from Phidias Propfirm. If you try to make additional purchases, they will be refunded right away.

Liability Waiver: 

Lastly, Phidias Propfirm disclaims any liability for damages resulting from the use of their site or services. So if something goes wrong—whether you’re relying on the information provided or experiencing issues accessing content—they won’t be liable for any kind of damages.

In summary, while Phidias Propfirm offers valuable trading resources, their strict subscription policies warrant careful consideration. If you’re thinking about subscribing, make sure you understand these terms fully, as they emphasize finality and personal responsibility in using their services.

Access to market data and market depth

During the evaluation phase, a non-professional trader will obtain top of book data for the CME free of charge. 

To obtain market depth, you can buy market depth on the COMEX, NYMEX, CBOT and CME markets for €11 on our site, or €33 for all the depth for these 4 markets in the section provided for this purpose. RithmicMarket Depth

If you wish to activate market depth, you can purchase it as an add-on module for €11 / month per exchange..

You can do this by going to your member area. Then go to the Rithmic Addons tab.

Over-Night and Over-Week open positions

Over-night positions are trading positions that are neither closed nor liquidated at the end of the trading day. 

Over-Week positions are positions which are not closed at the end of the week and which remain open when the Monday Globex session resumes.

In accordance with Phidias Propfirm trading rules, all positions must be CLOSED before the end of the trading day for Fundamental accounts. 

Positions on SWING and MASTER accounts can remain open over-night and over-week, with a lot size corresponding to the size of your account.

Failure to close a position before market close will result in account disqualification. 

This rule is only valid for FUNDAMENTAL accounts, SWING and MASTER accounts are of course excluded from this rule because we authorize Over-Night and Over-Week with these types of accounts.

Trading hours (For FUNDAMENTAL accounts only)

All instruments for FUNDAMENTAL accounts must be traded during the following business hours, UTC time : (SWING accounts are excluded from this rule.)

CME Globex
Sunday to Friday
10:00 p.m - 8:59 p.m (UTC)

60-minute break each day from 8.59pm (UTC)

CME ClearPort(clearing time, please find information on the CME Group website)

https://www.cmegroup.com/clearport.html

15-minute maintenance window between 21:45 and 22:00 (UTC)

Please check each exchange's website for official hours and holidays.

CME Normal Trading Hours : https://www.cmegroup.com/trading-hours.html#foi=F&tradeDate=2023-11-23&pageNumber=1

Holiday calendar : https://www.cmegroup.com/tools-information/holiday-calendar.html

Note: All positions must be CLOSED before the end of the trading day. Failure to close a position before the deadline results in disqualification of the account. 

(SWING accounts are excluded from this rule)

*CME market opening hours are all Paris time.

If you live elsewhere, you can use these time converters : 

https://savvytime.com/converter

https://www.worldtimebuddy.com/

Trading economic news

During the evaluation period: 

Yes, Phidias Propfirm authorized to trade during news events.

While trading your Phidias-CASH or Master accounts: 

It is important to note that certain high-impact economic announcements must be taken into account. 

It is forbidden to trade or hold positions in the minute before or after the following announcements. 

Positions must be closed on Swing, Fundamental and 10k drawdown accounts, even if the position has been open for several days and is in profit:

Here are the news items concerned

Oil inventories (Oil stock)

NFP (Non-Farm Payrolls) 

CPI (Consumer Price Index) 

PPI (Producer Price Index) 

FOMC (Federal Open Market Committee) and FOMC Meetings 

FED President's speech

PMI (Purchasing Managers' Index) 

IPC (Consumer Price Index) IPP (Producer Price Index)

This measure is designed to help you manage the risks associated with the increased volatility associated with these major economic events.

Commissions per asset

You will find the amount of commissions on your RITHMIC trader pro interface (right click on your account then risk management tab, you will find the amount of commissions for all available products)

Number of authorised accounts and copy trading

The total limit for the number of funded accounts is 20 accounts + 1 MASTER account + 1 Full Margin 10K account for all people in the same tax household, businesses and Internet connections.

It is strictly prohibited to exceed a total of 20 funded accounts + 1 master account + 1 Full Margin 10K account. If this number is exceeded, no payment will be made.

Any CASH account beyond the threshold of 20 +1 MASTER + 1 Full Margin 10K account will be considered lost.

Number of Authorized Accounts and Copy Trading:

Phidias Propfirm allows copy trading within, as long as it complies with Phidias guidelines for the number of accounts allowed. Per the prop firm policy, each person, business or internet connection can own and manage up to 20 funded accounts+1 MASTER account+1 Full Margin 10K account.

This means you have the freedom to use third-party software or platforms that offer copy trading features to copy accounts between each other. 

However, please note that such third-party software or platforms are the responsibility of the trader. Phidias Propfirm take no responsibility for any failures or technical issues on these third-party platforms.

It is the responsibility of each trader to ensure that the use of these third party software or platforms complies with Phidias rules and the limit of 20+2 funded accounts. 

Exceeding this limit will be considered a violation of Phidias Propfirm policy, and no payments will be made to accounts violating this rule. 

If Phidias Propfirm discovers strategies trading identically across different accounts and whose allocated capital value exceeds 20 accounts +1 MASTER 1 Full Margin 10K, Phidias reserves the right to suspend these accounts in accordance with the terms and conditions.

Regularity, Policy of Consistency at Phidias Propfirm

As a trader seeking a reputable prop firm, it’s crucial to understand the operational framework that shapes your trading experience. 

At Phidias Propfirm, the emphasis on discipline, consistency, and security in trading operations is evident, and they have crafted a set of guidelines that reflect their commitment to both traders and the integrity of their business. 

Here’s a detailed look at what you can expect:

  1. Defined Trading System
    Phidias Propfirm prioritizes traders who have a well-defined trading system. This means you need to have established rules for entries, stops, profit taking, drawdown management, and exits. Consistency in applying this system is not just encouraged; it’s essential for success here.

  2. Consistency of Operations
    Traders are expected to maintain consistency across various factors, including position sizes, trading days, and risk management. Phidias promotes stability over erratic trading behaviors, discouraging any attempts to manipulate contracts solely for specific outcomes. This emphasis on actual market executions ensures that your performance reflects your true trading capabilities.

  3. No Automated Trading or High-Frequency Trading (HFT)
    In an environment that values active engagement, Phidias strictly prohibits the use of fully automated trading algorithms and high-frequency trading. While semi-automated software is allowed, it comes with the expectation that you’ll actively monitor and adjust your trades.

  4. Avoid Speculative Transactions
    Phidias takes a firm stance against speculative trading practices. The firm does not support high-risk strategies aimed at quick gains or one-time withdrawals. Instead, they advocate for responsible trading that seeks steady, long-term growth.

  5. News Trading Restrictions
    Engaging in transactions based on economic news is off the table. Phidias expects traders to adhere to their trading strategies without attempting to exploit market volatility related to announcements, promoting a disciplined approach to trading.

  6. Respect and Professionalism
    Professionalism extends beyond trading strategies at Phidias. Traders are expected to treat staff, partners, and fellow traders with respect at all times, fostering a positive trading community both online and offline.

  7. Profit Limits
    To ensure consistency in trading practices, Phidias imposes profit limits on CASH accounts. The rule is clear: no single trading day’s profit balance should exceed 30% of the total account balance, helping to mitigate excessive risk-taking.

  8. Contract Expiration Rules
    Traders are required to focus on the highest volume and most recent contracts for the instruments they wish to trade. This policy prevents trading in illiquid or low-volume contracts, emphasizing the importance of quality in trading decisions.

  9. US Treasury Bonds Policy
    Phidias has specific guidelines for trading US Treasury bonds, banning certain arbitrage strategies that do not yield satisfactory execution in real markets. Traders wishing to engage with Treasury bonds need to contact the firm to activate CBOT market data, while other bond strategies remain permissible.

In summary, Phidias Propfirm is dedicated to fostering a disciplined trading environment, targeting serious traders who prioritize regularity and stable growth. Their policies are clearly defined to maintain the quality and integrity of trading operations, ensuring that all traders have a fair and equitable experience.

If you have any questions or need further clarification, Phidias encourages open communication to help you navigate their policies effectively.

MASTER Account rules - Specific rules

-MASTER account is 1 million US dollars.

- Drawdown MAX 50 000 $ (EOD)

-No minimum or maximum day to validate the account

-No limit on payment amount from D+1 of the funded account

-No minimum trading day for payment requests

-Traders must leave a minimum of $20,000 in their account when making withdrawals.

-Life-time activation only $250 Free

-Monthly business flow fee of $122 deducted directly from MASTER Account Free

- Over-Night and Over-Week

-Futures and options on futures contracts available on US/EU/ASIA exchanges

-Scalable profit split up to 90% !!!

-You will never be alone, our expertise is at your disposal at any time

Monthly fees and withdrawals :

One-time activation fee of $250 Free for MASTER account.

There is no withdrawal limit for the MASTER account as long as it is and remains above the minimum threshold of

$ 1 020 000.

Position Size :
MASTER account traders can open up to a maximum of 50 E-mini intraday contracts on all instruments. (50 E-mini contracts or 500 micros)

The EOD drawdown trailing will be evaluated at the end of each trading day (EOD). 

If the cumulative losses reach or exceed the stop-loss threshold of $50,000 the account will be closed by your Risk manager. 

Beyond +$50,000 of Pnl on the account the drawdown stops running.

Profit Split for the MASTER :

At the beginning, the profit split is 50% for the trader and 50% for Phidias Propfirm
For each $5,000 of PNL withdrawn gross by the trader, the profit split evolves as follows :

Up to $ 5,000 of PNL withdrawn: 50% for the trader, 50% for Phidias Propfirm

Between $ 5,001 and $ 10,000 of PNL withdrawn: 60% for the trader, 40% for Phidias Propfirm

Between $ 10,001 and $ 15,000 of PNL withdrawn: 70% for the trader, 30% for Phidias Propfirm

Between $ 15,001 and $ 20,000 of PNL withdrawn: 80% for the trader, 20% for Phidias Propfirm

Beyond $ 20,000 of PNL withdrawn: 90% for the trader, 10% for Phidias Propfirm.

Calculation of instalments for a withdrawal of $20,000 :

- Up to $5,000 PNL withdrawn: ($5,000 * 50%) = $2,500

- Between $5,001 and $10,000 of PNL withdrawn: ($5,000 * 60%) = $3,000

- Between $10,001 and $15,000 of PNL withdrawn: ($5,000 * 70%) = $3,500

- Between $15,001 and $20,000 of PNL withdrawn: ($5,000 * 80%) = $4,000

- Over $20,000: ($30,000 * 90%) = $27,000

Total for a $50,000 withdrawal: $2,500 + $3,000 + $3,500 + $4,000 + $27,000 = $40,000. So, if the trader withdraws $50,000, he will receive $40,000.

Profit splits are calculated on the trader's cumulative withdrawals, so when the trader has withdrawn more than $20,000 in total from his Master account, the trader will always receive 90% of the amounts subsequently withdrawn.

Trading options on index futures :
With the MASTER account, you can trade options on futures contracts with a long position (long call or long put).

Secondly, once the balance is above $ 200,000 in profits, we will activate the possibility of selling options and take advantage of all the possibilities of options strategies..

The EUREX market or any other market organized with a clearing house is permitted, provided that it complies with international law and excludes countries subject to international or national sanctions. 

Simply send to Phidias a request so they can activate the instruments you wish to trade. (The fees for stock exchange data are the same as for other accounts, i.e. $12 per exchange or $33 for the whole. EUREX is separate, Phidias provide the price on request.

No reset of Phidias-CASH or MASTER accounts

There is no reset for Phidias-CASH or MASTER accounts.

The rules of Regularity, consistency, Coherence Policy at Phidias Propfirm apply to your MASTER account except news trading.

The Master account within Phidias Propfirm, represents the pinnacle in terms of account size and exclusivity. 

This prestigious account has a capital of one million US dollars, making it the highest account within Phidias company. It is exclusively reserved for the prop firm most exceptional traders. 

Additionally, it provides privileged access to futures options, allowing Phidias traders to further diversify their trading strategies, take advantage of opportunities and manage their own hedging. 

However, due to its importance and its unique opportunities, the Master account is governed by specific and strict rules. It is reserved exclusively for the elite of Phidias traders, those who have demonstrated exceptional mastery of the financial markets and remarkable performance within the company. 

This account represents the pinnacle of Phidias Propfirm commitment to excellence and offers talented traders an exceptional account to reach new heights in their trading career.

*If you maintain consistent profitability on your MASTER Phidias account and meet account objectives the prop firm will be happy to allocate additional funds to you and it remains attentive to your needs.

List of activation fees for Phidias-CASH accounts

You've reached your evaluation account target and would like to switch to a Phidias-CASH account. 

CASH accounts are set up to be Mini-lot only or Micro-lot only, so you'll need to make a choice when you pay your account.

Activation fees for Phidias-CASH accounts. You have the option of paying monthly or opting for a one-off payment valid for the lifetime of the account.

50k Fundamental : 79 € / month or 159 € Lifetime. ($86 / month or $174 Lifetime)

100K Fundamental : 99 € / month or 199 € Lifetime. ($107 / month or $217 Lifetime)

50K Swing : 99 € / month or 199 € Lifetime. ($107 / month or $217 Lifetime)

100k Swing : 99 € / month or 249 € Lifetime. ($107 / month or $270 Lifetime)

Master 1M : One-off activation fee of 250€ Lifetime Free

10K DRAWDOWN Account rules - Specific rules

How does it work?

The 10K DRAWDOWN account is only available by participating in the 10K DRAWDOWN challenge. When you pay your €19 registration fee for the challenge, you receive a 10K DRAWDOWN account and are included in the pool of traders participating in the challenge for 1 month.

Position size

The following rules only apply to the 10K DRAWDOWN account challenge!

Traders in the 10K DRAWDOWN account can open up to 25 E-mini contracts intraday, all instruments included.

Over-night and Over-Week positions are authorized within the limit of 25 E-mini contracts.

Registrations

You can register several times, simultaneously or not, in order to obtain more 10K DRAWDOWN accounts and increase your chances of success.

No restriction on the number of entries per participant.

When the challenge is in progress, you can join and participate up to 5 days before the end date of the challenge. After this time, entries will no longer be possible and you will have to wait for the opening of the next 10K DRAWDOWN challenge.

Starting the challenge

Target

When you sign up for the 10K FULL MARGIN challenge, you are added to the pool of traders taking part in the challenge. Your objective is to finish 1st in the pool at the end of the month by making the biggest profit in the pool and you win the 10K FULL MARGIN account.

Ranking

A ranking will be visible in your Dashboard area. The ranking will be updated every day at the end of the day.

Ranking rule

The ranking will be subject to the following rule:

Each trader will be represented by the trading account that has achieved the highest ranking. If you have registered with more than one account, these will not be counted in the final ranking. However, you will benefit from a 20% promotional code for each of these accounts as soon as you register. (see below)

Earnings

All participants win a prize at the end of the challenge. Each winner of the 10K DRAWDOWN CASH account will not be able to participate in the challenge thereafter as long as they have an active 10K DRAWDOWN CASH account, in order to give everyone the chance to win a 10K DRAWDOWN CASH account :

1st: CASH 10K Drawdown account

2nd: CASH 100K Swing account

3rd: CASH 50K Swing account

4th: CASH 100K Fundamental account

5th: CASH 50K Fundamental account

6th: 100K Swing Evaluation Account

7th: 50K Swing Evaluation Account

8th: 100K Fundamental valuation account

9th: 50K Fundamental valuation account

10th: 50K Fundamental valuation account

Top 10% (excluding top 10): 70% discount code on all accounts (except 10K DRAWDOWN and MASTER)

Top 50% (excluding top 10 and top 10%): 50% discount code on all accounts (except 10K DRAWDOWN and MASTER).

Top 100% (excluding top 10, top 10% and top 50%): 30% discount code on all accounts (except 10K DRAWDOWN and MASTER).

10K DRAWDOWN CASH account rules (real account awarded to the challenge winner)

- 8 lot E-mini et/ou 8 E-micro lot

- The 10K DRAWDOWN account is worth US$10,000.

- Drawdown MAX $10,000 (EOD). The Drawdown EOD stops when the trader's account reaches $20,000.

- 2 500 $ of profits to be made to validate the withdrawal threshold. Below this threshold, no withdrawals can be made by the trader.

- Traders must leave a minimum of $2,000 in their account when requesting withdrawals.

- No payment amount limit from D+1 of the account financed. Provided you have reached the withdrawal threshold

- No minimum trading day for payment requests

- Activation Life-time, 250 € Free

- Monthly business flow fee of $122 deducted directly from the DRAWDOWN 10K Account

- Over-Night and Over-Week authorized up to a maximum of 1 E-mini or 1 E-micro lot (this limit may be increased depending on the trader's results).

- Profit split scalable up to 90% !!!

At the beginning, the profit split is 50% for the trader and 50% for Phidias Propfirm For each $5,000 of PNL withdrawn gross by the trader, the profit split evolves as follows:

Up to $2,500 PNL withdrawn: 50% for the trader, 50% for Phidias Propfirm

Between $2,501 and $5,000 PNL withdrawn: 60% for the trader, 40% for Phidias Propfirm.

Between $5,001 and $7,500 PNL withdrawn: 70% for the trader, 30% for Phidias Propfirm

Between $7,501 and $10,000 PNL withdrawn: 80% for the trader, 20% for Phidias Propfirm.

Over $10,000 of PNL withdrawn: 90% for the trader, 10% for Phidias Propfirm.

Calculation of instalments for a withdrawal of $30,000 :

- Up to $2,500 PNL withdrawn: ($2,500 * 50%) = $1,250

- Between $2,501 and $5,000 PNL withdrawn: ($2,500 * 60%) = $1,500

- Between $5,001 and $7,500 PNL withdrawn: ($2,500 * 70%) = $1,750

- Between $7,501 and $10,000 of NLP withdrawn: ($2,500 * 80%) = $2,000

- Over $10,000: ($20,000 * 90%) = $18,000

Total for a withdrawal of $30,000: $1,250 + $1,500 + $1,750 + $2,000 + $18,000 = $24,500. Thus, if the trader withdraws $30,000, he will receive $24,500.

Profit splits are calculated on the trader's cumulative withdrawals, so when the trader has withdrawn more than $10,000 in total from his Master account, the trader will always receive 90% of the amounts subsequently withdrawn.

- The position size limit evolves according to the gains made on the account. Here's how position sizes evolve according to winnings on the 10K DRAWDOWN account:

For every $10,000 of winnings realized on the account and left available on the capital, 1 additional E-mini lot or 1 additional E-micro lot is authorized for position-taking up to a maximum of 4 additional E-mini lots or 4 additional E-micro lots.

Example the trader earns $25k after a period of work on the 10K DRAWDOWN account, bringing his total capital to $35k, the trader can now commit 2 additional E-mini lots or 2 E-micro lots (Intraday and Over-night / Over-Week) i.e. 3 E-mini lots or 3 E-micros lots in total in the market.) 

30% consistency rule on Phidias Propfirm accounts

If your total profit is $1000 on your account, one of the previous days can't exceed $300 (30% of $1000 = $300), but if it does, no worries, you need to increase your total profit. For example, if you make $330 on your best day, you just need to increase your total profit from $1,000 to $1,100 and you enter the consistency rule (30% of $1,100 = $330).

In one day, you can't calculate your consistency rule because in one day you reach 100% of total profit.

The minimum calculation period is 4 days. For example, if you make $1,000 in 4 days ($250 each day), your best profit day is $250, and $250 out of $1,000 total profit represents 25%.

But if, out of those 4 days, you have one day at $350, one day at $100 and two other days at $250, it's still $1,000. 

HOWEVER, your best profit day is $350. A day at $350 out of $1,000 total profit exceeds 30% of total profit ($350 out of $1,000 represents 35%).

Advantages

High Capital Allocation (MASTER Account)

The MASTER account offers $1 million in capital, providing elite traders with ample resources to scale their strategies.

Flexible Trading Policies

No minimum or maximum trading days are required to validate accounts, offering traders the flexibility to operate at their own pace.

Generous Profit Split

Profit splits are scalable up to 90%, allowing successful traders to retain more of their profits as they progress.

No Withdrawal Limits

Phidias imposes no withdrawal limits for funded accounts, giving traders the ability to access profits without delays or restrictions.

Diverse Market Access

Traders can engage in futures and options across US, EU, and Asia exchanges, providing a wide range of trading instruments.

Affordable Activation Fee

A one-time activation fee of $250 for the MASTER account is relatively affordable, given the high capital allocation and benefits.

Expert Support

Phidias offers around-the-clock support, providing traders with expert advice and assistance whenever needed.

Lifetime Activation & Low Monthly Fees

Lifetime activation with no recurring setup fees, along with a low monthly fee of $122 directly deducted from the account.

No Reset Fees

Unlike some firms, Phidias doesn’t charge for resets on Phidias-CASH or MASTER accounts, offering more stability to traders.

EOD Trailing Drawdown

The EOD trailing drawdown stops running after $50,000 in profit, reducing pressure on traders once they achieve a comfortable cushion.

Disadvantage

Strict Drawdown Limit

The $50,000 drawdown limit could be restrictive for some traders, especially those running high-volume or high-risk strategies.

Limited Automated Trading

Phidias prohibits fully automated trading algorithms, which may limit traders who rely heavily on automated strategies.

Mandatory $20,000 Account Balance for Withdrawals

Traders must leave at least $20,000 in their account when making withdrawals, which might restrict access to funds.

Restricted Treasury Bond Strategies

Some arbitrage strategies on US Treasury bonds are banned, potentially limiting traders who focus on this market segment.

Scalable Profit Split Requires Progress

While the profit split can reach up to 90%, traders must first withdraw significant profits to access higher profit splits, which may be challenging for some.

Additional Fees for Market Data

Traders have to pay extra for market data access, with EUREX and other exchanges incurring separate fees, which may add to the overall cost of trading.

Elite Account Requirements

The MASTER account is exclusive and only accessible to top-performing traders, potentially excluding newer or less-experienced traders from accessing higher capital allocations.

Conclusion

Phidias Propfirm presents itself as a top-tier choice for experienced traders looking for significant capital, flexibility, and growth potential. With its $1 million MASTER account, scalable profit splits up to 90%, and access to global markets, Phidias caters to serious traders who prioritize long-term growth and stability. The absence of withdrawal limits and a low activation fee further enhance its appeal.

However, the firm’s strict drawdown policies, limitations on automated and news-based trading, and the requirement to maintain a minimum account balance for withdrawals may pose challenges for some traders. Additionally, the firm's policies are designed to foster discipline, meaning it may not be the best fit for traders who thrive on speculative or high-frequency strategies.

Overall, Phidias Propfirm is an excellent choice for disciplined traders who are ready to meet the demands of professional trading while enjoying the support and resources that can propel their careers to new heights. If you are a seasoned trader seeking a well-rounded prop firm with significant capital and growth opportunities, Phidias is worth considering.

FAQ

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Phidias Prop firm Review 2024

Overview

Phidias Prop Firm is a new player in the proprietary futures trading world. Founded by two professional French traders, this French prop trading firm offers a straightforward approach for futures traders worldwide. 

With a simple, one-step evaluation process, it has become a popular choice among day traders. 

The firm aims to help aspiring traders thrive in the futures market by providing data feeds and educational content. Unlike other industry players, Phidias Prop Firm seeks to offer trading conditions with no hidden fees or restrictions, allowing traders to showcase their skills in a safe environment, reach profit targets, pass the evaluation, and eventually earn a funded account.

The proprietary firm offers various accounts tailored to different trading styles. Swing traders are welcome, with the ability to hold positions overnight and over the weekend. 

To support informed risk management, Phidias Prop Firm has implemented an end-of-day drawdown calculation, providing traders with complete peace of mind in their pursuit of trading success.

This review of Phidias Prop Firm will explore the specifics of their services, highlighting their evaluation programs, rule sets, trading platforms, and more.

PHIDIAS PROPFIRM ACCOUNTS

Choose your account

Select your account size

(Fundamental or Swing 50K / 100K)





Pass the challenge

Follow the rules and validate your evaluation

Funded account

Phidias Prop Firm ensures transparency in its account offerings by clarifying that all client accounts, except for the MASTER account, are subject to discretionary position copying using Rithmic's R | API and TradeFollower™ software. While they manage risk internally, traders can rest assured that their performance and profits are honored regardless of whether positions are copied. 

This approach emphasizes Phidias' commitment to providing a fair trading experience while maintaining internal risk controls.

Phidias Prop Firm sets itself apart by offering complete autonomy to traders, recognizing that each trader’s style whether scalping, intraday, or swing trading reflects their individual strategy and personality.

They offer unrestricted access to a broad range of instruments, including Forex, indices, commodities, rates, and cryptocurrencies, provided trades align with market conditions and can be replicated on corporate accounts. 

This commitment to freedom is balanced with a firm stance against gambling behaviors, emphasizing that serious, rule abiding traders are the focus. In cases of repeated non-conforming behavior, Phidias reserves the right to reduce risk through measures such as removing positions or closing accounts. 

Their philosophy is clear, responsible trading leads to shared success, and Phidias is dedicated to supporting traders on their journey to profitability.

How Phidias Propfirm works

Phidias PropFirm bears the risk and shares the rewards. Trading with Phidias Propfirm is as easy as 1-2-3.

Inscription :

Register on the platform and choose a subscription via  registration form. You can buy your evaluation pack using any credit/debit card.

Connection to platforms :

Here is the full list of third-party trading platforms supported by Phidias Prop Firm.

Warning :

Phidias Propfirm accounts cannot be connected to the NinjaTrader platform. Ninja trader will no longer offer services to new propfirms. Until next summer, and will only offer services to existing propfirms. Ninja is in the process of creating its own propfirm provider environment. 

All platforms except Ninja Trader that support Rithmic feeds can be used with your Phidias Propfirm accounts (Sierra Chart, Quantower, Atas, Bookmap, etc.) Phidias pro-firm can help set up the platforms, and more specifically Sierra Chart, which the prop firm master very well with the members of the Phidias team.

Assessment phase:
At this stage, you trade according to your strategies, following the Phidias Propfirm guidelines set out in the valuation plan you have chosen.
Once you have reached your target, you will need to submit your account for validation, after which risk managers will review your account.

Become a Phidias CASH trader:

Once your trial account is validated and you have met the requirements, you can start earning money by trading on Phidias Propfirm accounts.

General rules

Choose your account size: 

You choose and purchase the account size that best suits your goals and trading style. Please note that this option does not apply to the master account.

Thereafter, the monthly subscription is recurring until the account is validated or canceled. This fee covers access to data feeds and a number of the prop firm tools and services to help you succeed.

Start the evaluation account: 

Once you have registered and paid the subscription fee, we will send you an automatic e-mail with your RITHMIC identifiers.  You can start your evaluation account via the trading platform of your choice (which supports the data feeds provided by RITHMIC). This is your first step towards live trading. 

Connexion guide

SierraChart Starter

Get your trading off to a flying start with SierraChart platform start-up guide and access the financial futures markets straight away!






Bookmap Starter

It's easy to get started trading with start-up help on the Bookmap platform and access the financial futures markets straight away!









Rithmic Starter

Start trading easily with the prop firm start-up help on the Rithmic platform and access the financial futures markets straight away!




Quantower Starter

Start trading easily with the prop firm start-up help on the Rithmic platform and access the financial futures markets straight away!






Reach your profit target without breaking any of the rules: the main objective is to make a profit while respecting Phidias propfirm trading rules. Keep an eye on your maximum authorised loss, as this is one of the most important criteria for success.

If, unfortunately, a rule is broken during the assessment, don't worry. You have the option to start a new assessment by purchasing a reset or wait 30 days after purchase for automatic account reset (reset only if assessment fails).

When you have successfully completed your trial account after the minimum 7 trading days, you will be eligible to obtain your Phidias LIVE account. This is the moment when your trading becomes real. From this point on, there is no need to email us or open a support ticket, as we will audit your account within 24-72 business hours.

End of Day rules (EOD)

In the evaluation phase at Phidias Propfirm, risk management is key to ensuring your growth as a trader.

They employ two key mechanisms:

Authorized Drawdown and Trailing End of Day, to safeguard your capital while giving you room to succeed.

Authorized Drawdown Management: 

Phidias calculates your drawdown at the end of each trading day. This means your drawdown limit remains fixed throughout the day, and only if your account balance exceeds this limit will you be liquidated. 

The smart part? Unrealized profits during the day don’t affect your drawdown. If you make gains, your drawdown is recalculated based on your end of day balance, giving you an extra layer of flexibility. 

For example, on a $50,000 account, if you reach a new profit peak at the end of the day, your drawdown adjusts based on that balance.

Trailing End of Day: 

Phidias automatically adjusts your daily stop-loss as your capital increases. For instance, if you start with $50,000 and have a daily stop-loss of $2,500, you won’t be liquidated unless your balance drops below $47,500. If you finish the day with a $500 profit, your new stop-loss adjusts upward, reducing your risk as you grow. This process repeats daily as you continue to make gains, giving you peace of mind and more control over your trades.

For challenge accounts, your drawdown remains consistent throughout the evaluation process, but for funded accounts, the drawdown stops trailing after reaching a fixed amount ($50,100 for a $50K account or $100,100 for a $100K account).

What’s great about Phidias is the fixed liquidation price for the day. If your liquidation amount is set at $47,500, it won’t change during the day, no matter how much you profit during trading. This allows you to take calculated risks without constantly worrying about sudden liquidation.

At Phidias Propfirm, these risk management tools give you the support you need to trade responsibly and grow. It’s all about helping you succeed while keeping your risks in check.

Commitment to Integrity and Regulatory Compliance

At Phidias Propfirm, the commitment to integrity and regulatory compliance is truly commendable. Their focus on adhering to both national and international regulations ensures a safe trading environment for all clients. 

However, it's essential to note that they currently cannot offer services in certain countries due to various legal considerations. 

This list can change at any time, either by regulatory request or the firm’s discretion. Phidias Propfirm makes every effort to comply with the regulatory requirements in each jurisdiction, which can lead to adjustments in their list of service countries.

The firm takes pride in maintaining high standards, which is crucial for providing safe and compliant trading services. For traders interested in understanding if their country qualifies, Phidias encourages direct contact for detailed information.

Phidias Propfirm also emphasizes regulatory compliance and security measures to protect their traders and operations. Here are some key reasons why certain regions may not be eligible for their services:

  1. Sanctions and Embargoes: Certain countries face international sanctions that prohibit financial transactions, thus limiting the services available to those regions.

  2. Management Capacity: In some areas, partners, brokers, or technical support companies may be unable or unwilling to open live accounts. This limitation can significantly impact the ability to effectively serve traders.

  3. Fraud Risk: Phidias Propfirm prioritizes security and fraud prevention, recognizing that some regions have a higher historical risk of financial fraud, including credit card fraud and identity theft. This proactive approach helps protect both traders and the firm.

  4. Services and Training: The commitment to high-quality services and training can sometimes be hampered by language barriers and a lack of effective communication. Phidias is actively working to expand their resources in various languages to better serve their traders in the future.

  5. Individuals on Sanction Lists: The firm also considers the backgrounds of individuals. Those with criminal records related to financial crime or terrorism, or who have previously breached contracts, may face restrictions.

While these geographic and individual restrictions may be disappointing for some, they are essential for ensuring the overall security, compliance, and quality of Phidias Propfirm's services. 

The firm is continually looking to improve its offerings and hopes to expand its reach to serve more countries in the future.

If you have questions or need further information about the availability of services in your area, Phidias Propfirm encourages you to reach out. They appreciate your understanding and interest in their commitment to integrity and excellence in trading.

Understanding Payments and Withdrawals

At Phidias Propfirm, the importance of financial flexibility for traders is clear, and they have structured their payment system to reflect that. 

Here’s what you need to know about how payments work on your Phidias-CASH account.

Minimum Withdrawal: 

One of the standout features is that you can request a withdrawal after just 10 trading days, as long as your account meets the minimum threshold. The minimum withdrawal is set at $1,000, which is reasonable for most traders.

Withdrawal Timing: 

To keep things organized, withdrawal requests must be made between the 20th and 25th of each month for payment at the end of the month. This structure helps traders plan their finances better.

Account Minimums: 

The minimum thresholds vary by account size. For example:

  • A $50,000 account requires a minimum balance of $52,600 before you can withdraw.

  • A $100,000 account needs to maintain $103,700.

If your balance falls below these minimums, you won’t be penalized, but you’ll need to reach that threshold again before making any withdrawal requests.

Processing Fees: 

It's essential to be aware of the associated processing fees. Initially, when you initiate a withdrawal, a 20% commission is deducted, leaving you with 80% of the withdrawal amount. After your third withdrawal, that commission drops to 10%. This progressive fee structure rewards traders who actively engage with the platform.

Withdrawal Conditions: 

For your first payout, there are specific conditions to meet. You must have made actual trades on at least 10 separate trading days before you can make your first payment claim. This requirement ensures that traders are actively participating and not just relying on passive income.

Moreover, during the first three withdrawals, there must be a minimum of 10 trading days between each request. It’s important to note that a trading day is considered complete only after the market closes, which adds a bit of complexity to the withdrawal timing.

Once you’ve completed three withdrawals, you can request withdrawals at any time, provided your account exceeds the minimum threshold. This flexibility is a significant advantage for active traders.

Maximum Withdrawal Limits: 

During the first three withdrawals, a cap is placed on the amount you can withdraw based on your account size:

  • $50,000 accounts can withdraw up to $2,000.

  • $100,000 accounts are limited to $2,500.

For traders with multiple accounts, you can withdraw the maximum from each account monthly, which can lead to substantial withdrawals if you manage multiple accounts.

Tax Considerations: 

It’s worth noting that Phidias Propfirm does not provide tax advice. Traders are advised to consult a tax professional regarding any tax-related questions.

Payment Options: 

Payments can be made via bank transfer or ACH, and Phidias is open to exploring other payment methods if needed, making it adaptable to different trader preferences.

Overall, Phidias Propfirm offers a transparent and structured payment process that aims to provide financial flexibility and security for traders. 

Their commitment to integrity and compliance, paired with their thoughtful approach to withdrawals, makes them a solid choice for traders seeking a supportive trading environment.

Refund policy

When it comes to subscription services at Phidias Propfirm, it’s crucial to understand their policies clearly, as they are quite strict. 

Here’s a breakdown of what you can expect:

Final Subscriptions: 

All subscriptions made are final. That means once you sign up and your payment goes through—whether through a credit card or cryptocurrency—there's no turning back. If you decide to cancel, you need to do so before your current subscription term expires, or it will automatically renew.

No Refunds:

This is a significant point for potential subscribers to note: there are absolutely no returns, refunds, or exchanges, partial or otherwise. Your purchase is non-refundable even if you don’t actively use the service. This is due to the nature of the services provided, which often include intellectual property that is accessible immediately upon payment.

"As Is" Service:

The services and content provided on the site are offered "as is" and "as available." This means you’re using them at your own risk. Phidias Propfirm explicitly disclaims any warranties, express or implied, regarding the availability or functionality of their site and services. So, if something doesn’t work as expected, they won’t be held liable.

Chargebacks and Membership Deactivation: 

A critical reminder is that if you initiate a chargeback or payment dispute, your membership will be immediately deactivated. This is not just a temporary setback—your username will be permanently banned from their authorized user database. This shows how seriously they take payment disputes.

Investigative Procedures:

If a chargeback is initiated, it will undergo a full investigation, and you won’t be able to make any further purchases from Phidias Propfirm. If you try to make additional purchases, they will be refunded right away.

Liability Waiver: 

Lastly, Phidias Propfirm disclaims any liability for damages resulting from the use of their site or services. So if something goes wrong—whether you’re relying on the information provided or experiencing issues accessing content—they won’t be liable for any kind of damages.

In summary, while Phidias Propfirm offers valuable trading resources, their strict subscription policies warrant careful consideration. If you’re thinking about subscribing, make sure you understand these terms fully, as they emphasize finality and personal responsibility in using their services.

Access to market data and market depth

During the evaluation phase, a non-professional trader will obtain top of book data for the CME free of charge. 

To obtain market depth, you can buy market depth on the COMEX, NYMEX, CBOT and CME markets for €11 on our site, or €33 for all the depth for these 4 markets in the section provided for this purpose. RithmicMarket Depth

If you wish to activate market depth, you can purchase it as an add-on module for €11 / month per exchange..

You can do this by going to your member area. Then go to the Rithmic Addons tab.

Over-Night and Over-Week open positions

Over-night positions are trading positions that are neither closed nor liquidated at the end of the trading day. 

Over-Week positions are positions which are not closed at the end of the week and which remain open when the Monday Globex session resumes.

In accordance with Phidias Propfirm trading rules, all positions must be CLOSED before the end of the trading day for Fundamental accounts. 

Positions on SWING and MASTER accounts can remain open over-night and over-week, with a lot size corresponding to the size of your account.

Failure to close a position before market close will result in account disqualification. 

This rule is only valid for FUNDAMENTAL accounts, SWING and MASTER accounts are of course excluded from this rule because we authorize Over-Night and Over-Week with these types of accounts.

Trading hours (For FUNDAMENTAL accounts only)

All instruments for FUNDAMENTAL accounts must be traded during the following business hours, UTC time : (SWING accounts are excluded from this rule.)

CME Globex
Sunday to Friday
10:00 p.m - 8:59 p.m (UTC)

60-minute break each day from 8.59pm (UTC)

CME ClearPort(clearing time, please find information on the CME Group website)

https://www.cmegroup.com/clearport.html

15-minute maintenance window between 21:45 and 22:00 (UTC)

Please check each exchange's website for official hours and holidays.

CME Normal Trading Hours : https://www.cmegroup.com/trading-hours.html#foi=F&tradeDate=2023-11-23&pageNumber=1

Holiday calendar : https://www.cmegroup.com/tools-information/holiday-calendar.html

Note: All positions must be CLOSED before the end of the trading day. Failure to close a position before the deadline results in disqualification of the account. 

(SWING accounts are excluded from this rule)

*CME market opening hours are all Paris time.

If you live elsewhere, you can use these time converters : 

https://savvytime.com/converter

https://www.worldtimebuddy.com/

Trading economic news

During the evaluation period: 

Yes, Phidias Propfirm authorized to trade during news events.

While trading your Phidias-CASH or Master accounts: 

It is important to note that certain high-impact economic announcements must be taken into account. 

It is forbidden to trade or hold positions in the minute before or after the following announcements. 

Positions must be closed on Swing, Fundamental and 10k drawdown accounts, even if the position has been open for several days and is in profit:

Here are the news items concerned

Oil inventories (Oil stock)

NFP (Non-Farm Payrolls) 

CPI (Consumer Price Index) 

PPI (Producer Price Index) 

FOMC (Federal Open Market Committee) and FOMC Meetings 

FED President's speech

PMI (Purchasing Managers' Index) 

IPC (Consumer Price Index) IPP (Producer Price Index)

This measure is designed to help you manage the risks associated with the increased volatility associated with these major economic events.

Commissions per asset

You will find the amount of commissions on your RITHMIC trader pro interface (right click on your account then risk management tab, you will find the amount of commissions for all available products)

Number of authorised accounts and copy trading

The total limit for the number of funded accounts is 20 accounts + 1 MASTER account + 1 Full Margin 10K account for all people in the same tax household, businesses and Internet connections.

It is strictly prohibited to exceed a total of 20 funded accounts + 1 master account + 1 Full Margin 10K account. If this number is exceeded, no payment will be made.

Any CASH account beyond the threshold of 20 +1 MASTER + 1 Full Margin 10K account will be considered lost.

Number of Authorized Accounts and Copy Trading:

Phidias Propfirm allows copy trading within, as long as it complies with Phidias guidelines for the number of accounts allowed. Per the prop firm policy, each person, business or internet connection can own and manage up to 20 funded accounts+1 MASTER account+1 Full Margin 10K account.

This means you have the freedom to use third-party software or platforms that offer copy trading features to copy accounts between each other. 

However, please note that such third-party software or platforms are the responsibility of the trader. Phidias Propfirm take no responsibility for any failures or technical issues on these third-party platforms.

It is the responsibility of each trader to ensure that the use of these third party software or platforms complies with Phidias rules and the limit of 20+2 funded accounts. 

Exceeding this limit will be considered a violation of Phidias Propfirm policy, and no payments will be made to accounts violating this rule. 

If Phidias Propfirm discovers strategies trading identically across different accounts and whose allocated capital value exceeds 20 accounts +1 MASTER 1 Full Margin 10K, Phidias reserves the right to suspend these accounts in accordance with the terms and conditions.

Regularity, Policy of Consistency at Phidias Propfirm

As a trader seeking a reputable prop firm, it’s crucial to understand the operational framework that shapes your trading experience. 

At Phidias Propfirm, the emphasis on discipline, consistency, and security in trading operations is evident, and they have crafted a set of guidelines that reflect their commitment to both traders and the integrity of their business. 

Here’s a detailed look at what you can expect:

  1. Defined Trading System
    Phidias Propfirm prioritizes traders who have a well-defined trading system. This means you need to have established rules for entries, stops, profit taking, drawdown management, and exits. Consistency in applying this system is not just encouraged; it’s essential for success here.

  2. Consistency of Operations
    Traders are expected to maintain consistency across various factors, including position sizes, trading days, and risk management. Phidias promotes stability over erratic trading behaviors, discouraging any attempts to manipulate contracts solely for specific outcomes. This emphasis on actual market executions ensures that your performance reflects your true trading capabilities.

  3. No Automated Trading or High-Frequency Trading (HFT)
    In an environment that values active engagement, Phidias strictly prohibits the use of fully automated trading algorithms and high-frequency trading. While semi-automated software is allowed, it comes with the expectation that you’ll actively monitor and adjust your trades.

  4. Avoid Speculative Transactions
    Phidias takes a firm stance against speculative trading practices. The firm does not support high-risk strategies aimed at quick gains or one-time withdrawals. Instead, they advocate for responsible trading that seeks steady, long-term growth.

  5. News Trading Restrictions
    Engaging in transactions based on economic news is off the table. Phidias expects traders to adhere to their trading strategies without attempting to exploit market volatility related to announcements, promoting a disciplined approach to trading.

  6. Respect and Professionalism
    Professionalism extends beyond trading strategies at Phidias. Traders are expected to treat staff, partners, and fellow traders with respect at all times, fostering a positive trading community both online and offline.

  7. Profit Limits
    To ensure consistency in trading practices, Phidias imposes profit limits on CASH accounts. The rule is clear: no single trading day’s profit balance should exceed 30% of the total account balance, helping to mitigate excessive risk-taking.

  8. Contract Expiration Rules
    Traders are required to focus on the highest volume and most recent contracts for the instruments they wish to trade. This policy prevents trading in illiquid or low-volume contracts, emphasizing the importance of quality in trading decisions.

  9. US Treasury Bonds Policy
    Phidias has specific guidelines for trading US Treasury bonds, banning certain arbitrage strategies that do not yield satisfactory execution in real markets. Traders wishing to engage with Treasury bonds need to contact the firm to activate CBOT market data, while other bond strategies remain permissible.

In summary, Phidias Propfirm is dedicated to fostering a disciplined trading environment, targeting serious traders who prioritize regularity and stable growth. Their policies are clearly defined to maintain the quality and integrity of trading operations, ensuring that all traders have a fair and equitable experience.

If you have any questions or need further clarification, Phidias encourages open communication to help you navigate their policies effectively.

MASTER Account rules - Specific rules

-MASTER account is 1 million US dollars.

- Drawdown MAX 50 000 $ (EOD)

-No minimum or maximum day to validate the account

-No limit on payment amount from D+1 of the funded account

-No minimum trading day for payment requests

-Traders must leave a minimum of $20,000 in their account when making withdrawals.

-Life-time activation only $250 Free

-Monthly business flow fee of $122 deducted directly from MASTER Account Free

- Over-Night and Over-Week

-Futures and options on futures contracts available on US/EU/ASIA exchanges

-Scalable profit split up to 90% !!!

-You will never be alone, our expertise is at your disposal at any time

Monthly fees and withdrawals :

One-time activation fee of $250 Free for MASTER account.

There is no withdrawal limit for the MASTER account as long as it is and remains above the minimum threshold of

$ 1 020 000.

Position Size :
MASTER account traders can open up to a maximum of 50 E-mini intraday contracts on all instruments. (50 E-mini contracts or 500 micros)

The EOD drawdown trailing will be evaluated at the end of each trading day (EOD). 

If the cumulative losses reach or exceed the stop-loss threshold of $50,000 the account will be closed by your Risk manager. 

Beyond +$50,000 of Pnl on the account the drawdown stops running.

Profit Split for the MASTER :

At the beginning, the profit split is 50% for the trader and 50% for Phidias Propfirm
For each $5,000 of PNL withdrawn gross by the trader, the profit split evolves as follows :

Up to $ 5,000 of PNL withdrawn: 50% for the trader, 50% for Phidias Propfirm

Between $ 5,001 and $ 10,000 of PNL withdrawn: 60% for the trader, 40% for Phidias Propfirm

Between $ 10,001 and $ 15,000 of PNL withdrawn: 70% for the trader, 30% for Phidias Propfirm

Between $ 15,001 and $ 20,000 of PNL withdrawn: 80% for the trader, 20% for Phidias Propfirm

Beyond $ 20,000 of PNL withdrawn: 90% for the trader, 10% for Phidias Propfirm.

Calculation of instalments for a withdrawal of $20,000 :

- Up to $5,000 PNL withdrawn: ($5,000 * 50%) = $2,500

- Between $5,001 and $10,000 of PNL withdrawn: ($5,000 * 60%) = $3,000

- Between $10,001 and $15,000 of PNL withdrawn: ($5,000 * 70%) = $3,500

- Between $15,001 and $20,000 of PNL withdrawn: ($5,000 * 80%) = $4,000

- Over $20,000: ($30,000 * 90%) = $27,000

Total for a $50,000 withdrawal: $2,500 + $3,000 + $3,500 + $4,000 + $27,000 = $40,000. So, if the trader withdraws $50,000, he will receive $40,000.

Profit splits are calculated on the trader's cumulative withdrawals, so when the trader has withdrawn more than $20,000 in total from his Master account, the trader will always receive 90% of the amounts subsequently withdrawn.

Trading options on index futures :
With the MASTER account, you can trade options on futures contracts with a long position (long call or long put).

Secondly, once the balance is above $ 200,000 in profits, we will activate the possibility of selling options and take advantage of all the possibilities of options strategies..

The EUREX market or any other market organized with a clearing house is permitted, provided that it complies with international law and excludes countries subject to international or national sanctions. 

Simply send to Phidias a request so they can activate the instruments you wish to trade. (The fees for stock exchange data are the same as for other accounts, i.e. $12 per exchange or $33 for the whole. EUREX is separate, Phidias provide the price on request.

No reset of Phidias-CASH or MASTER accounts

There is no reset for Phidias-CASH or MASTER accounts.

The rules of Regularity, consistency, Coherence Policy at Phidias Propfirm apply to your MASTER account except news trading.

The Master account within Phidias Propfirm, represents the pinnacle in terms of account size and exclusivity. 

This prestigious account has a capital of one million US dollars, making it the highest account within Phidias company. It is exclusively reserved for the prop firm most exceptional traders. 

Additionally, it provides privileged access to futures options, allowing Phidias traders to further diversify their trading strategies, take advantage of opportunities and manage their own hedging. 

However, due to its importance and its unique opportunities, the Master account is governed by specific and strict rules. It is reserved exclusively for the elite of Phidias traders, those who have demonstrated exceptional mastery of the financial markets and remarkable performance within the company. 

This account represents the pinnacle of Phidias Propfirm commitment to excellence and offers talented traders an exceptional account to reach new heights in their trading career.

*If you maintain consistent profitability on your MASTER Phidias account and meet account objectives the prop firm will be happy to allocate additional funds to you and it remains attentive to your needs.

List of activation fees for Phidias-CASH accounts

You've reached your evaluation account target and would like to switch to a Phidias-CASH account. 

CASH accounts are set up to be Mini-lot only or Micro-lot only, so you'll need to make a choice when you pay your account.

Activation fees for Phidias-CASH accounts. You have the option of paying monthly or opting for a one-off payment valid for the lifetime of the account.

50k Fundamental : 79 € / month or 159 € Lifetime. ($86 / month or $174 Lifetime)

100K Fundamental : 99 € / month or 199 € Lifetime. ($107 / month or $217 Lifetime)

50K Swing : 99 € / month or 199 € Lifetime. ($107 / month or $217 Lifetime)

100k Swing : 99 € / month or 249 € Lifetime. ($107 / month or $270 Lifetime)

Master 1M : One-off activation fee of 250€ Lifetime Free

10K DRAWDOWN Account rules - Specific rules

How does it work?

The 10K DRAWDOWN account is only available by participating in the 10K DRAWDOWN challenge. When you pay your €19 registration fee for the challenge, you receive a 10K DRAWDOWN account and are included in the pool of traders participating in the challenge for 1 month.

Position size

The following rules only apply to the 10K DRAWDOWN account challenge!

Traders in the 10K DRAWDOWN account can open up to 25 E-mini contracts intraday, all instruments included.

Over-night and Over-Week positions are authorized within the limit of 25 E-mini contracts.

Registrations

You can register several times, simultaneously or not, in order to obtain more 10K DRAWDOWN accounts and increase your chances of success.

No restriction on the number of entries per participant.

When the challenge is in progress, you can join and participate up to 5 days before the end date of the challenge. After this time, entries will no longer be possible and you will have to wait for the opening of the next 10K DRAWDOWN challenge.

Starting the challenge

Target

When you sign up for the 10K FULL MARGIN challenge, you are added to the pool of traders taking part in the challenge. Your objective is to finish 1st in the pool at the end of the month by making the biggest profit in the pool and you win the 10K FULL MARGIN account.

Ranking

A ranking will be visible in your Dashboard area. The ranking will be updated every day at the end of the day.

Ranking rule

The ranking will be subject to the following rule:

Each trader will be represented by the trading account that has achieved the highest ranking. If you have registered with more than one account, these will not be counted in the final ranking. However, you will benefit from a 20% promotional code for each of these accounts as soon as you register. (see below)

Earnings

All participants win a prize at the end of the challenge. Each winner of the 10K DRAWDOWN CASH account will not be able to participate in the challenge thereafter as long as they have an active 10K DRAWDOWN CASH account, in order to give everyone the chance to win a 10K DRAWDOWN CASH account :

1st: CASH 10K Drawdown account

2nd: CASH 100K Swing account

3rd: CASH 50K Swing account

4th: CASH 100K Fundamental account

5th: CASH 50K Fundamental account

6th: 100K Swing Evaluation Account

7th: 50K Swing Evaluation Account

8th: 100K Fundamental valuation account

9th: 50K Fundamental valuation account

10th: 50K Fundamental valuation account

Top 10% (excluding top 10): 70% discount code on all accounts (except 10K DRAWDOWN and MASTER)

Top 50% (excluding top 10 and top 10%): 50% discount code on all accounts (except 10K DRAWDOWN and MASTER).

Top 100% (excluding top 10, top 10% and top 50%): 30% discount code on all accounts (except 10K DRAWDOWN and MASTER).

10K DRAWDOWN CASH account rules (real account awarded to the challenge winner)

- 8 lot E-mini et/ou 8 E-micro lot

- The 10K DRAWDOWN account is worth US$10,000.

- Drawdown MAX $10,000 (EOD). The Drawdown EOD stops when the trader's account reaches $20,000.

- 2 500 $ of profits to be made to validate the withdrawal threshold. Below this threshold, no withdrawals can be made by the trader.

- Traders must leave a minimum of $2,000 in their account when requesting withdrawals.

- No payment amount limit from D+1 of the account financed. Provided you have reached the withdrawal threshold

- No minimum trading day for payment requests

- Activation Life-time, 250 € Free

- Monthly business flow fee of $122 deducted directly from the DRAWDOWN 10K Account

- Over-Night and Over-Week authorized up to a maximum of 1 E-mini or 1 E-micro lot (this limit may be increased depending on the trader's results).

- Profit split scalable up to 90% !!!

At the beginning, the profit split is 50% for the trader and 50% for Phidias Propfirm For each $5,000 of PNL withdrawn gross by the trader, the profit split evolves as follows:

Up to $2,500 PNL withdrawn: 50% for the trader, 50% for Phidias Propfirm

Between $2,501 and $5,000 PNL withdrawn: 60% for the trader, 40% for Phidias Propfirm.

Between $5,001 and $7,500 PNL withdrawn: 70% for the trader, 30% for Phidias Propfirm

Between $7,501 and $10,000 PNL withdrawn: 80% for the trader, 20% for Phidias Propfirm.

Over $10,000 of PNL withdrawn: 90% for the trader, 10% for Phidias Propfirm.

Calculation of instalments for a withdrawal of $30,000 :

- Up to $2,500 PNL withdrawn: ($2,500 * 50%) = $1,250

- Between $2,501 and $5,000 PNL withdrawn: ($2,500 * 60%) = $1,500

- Between $5,001 and $7,500 PNL withdrawn: ($2,500 * 70%) = $1,750

- Between $7,501 and $10,000 of NLP withdrawn: ($2,500 * 80%) = $2,000

- Over $10,000: ($20,000 * 90%) = $18,000

Total for a withdrawal of $30,000: $1,250 + $1,500 + $1,750 + $2,000 + $18,000 = $24,500. Thus, if the trader withdraws $30,000, he will receive $24,500.

Profit splits are calculated on the trader's cumulative withdrawals, so when the trader has withdrawn more than $10,000 in total from his Master account, the trader will always receive 90% of the amounts subsequently withdrawn.

- The position size limit evolves according to the gains made on the account. Here's how position sizes evolve according to winnings on the 10K DRAWDOWN account:

For every $10,000 of winnings realized on the account and left available on the capital, 1 additional E-mini lot or 1 additional E-micro lot is authorized for position-taking up to a maximum of 4 additional E-mini lots or 4 additional E-micro lots.

Example the trader earns $25k after a period of work on the 10K DRAWDOWN account, bringing his total capital to $35k, the trader can now commit 2 additional E-mini lots or 2 E-micro lots (Intraday and Over-night / Over-Week) i.e. 3 E-mini lots or 3 E-micros lots in total in the market.) 

30% consistency rule on Phidias Propfirm accounts

If your total profit is $1000 on your account, one of the previous days can't exceed $300 (30% of $1000 = $300), but if it does, no worries, you need to increase your total profit. For example, if you make $330 on your best day, you just need to increase your total profit from $1,000 to $1,100 and you enter the consistency rule (30% of $1,100 = $330).

In one day, you can't calculate your consistency rule because in one day you reach 100% of total profit.

The minimum calculation period is 4 days. For example, if you make $1,000 in 4 days ($250 each day), your best profit day is $250, and $250 out of $1,000 total profit represents 25%.

But if, out of those 4 days, you have one day at $350, one day at $100 and two other days at $250, it's still $1,000. 

HOWEVER, your best profit day is $350. A day at $350 out of $1,000 total profit exceeds 30% of total profit ($350 out of $1,000 represents 35%).

Advantages

High Capital Allocation (MASTER Account)

The MASTER account offers $1 million in capital, providing elite traders with ample resources to scale their strategies.

Flexible Trading Policies

No minimum or maximum trading days are required to validate accounts, offering traders the flexibility to operate at their own pace.

Generous Profit Split

Profit splits are scalable up to 90%, allowing successful traders to retain more of their profits as they progress.

No Withdrawal Limits

Phidias imposes no withdrawal limits for funded accounts, giving traders the ability to access profits without delays or restrictions.

Diverse Market Access

Traders can engage in futures and options across US, EU, and Asia exchanges, providing a wide range of trading instruments.

Affordable Activation Fee

A one-time activation fee of $250 for the MASTER account is relatively affordable, given the high capital allocation and benefits.

Expert Support

Phidias offers around-the-clock support, providing traders with expert advice and assistance whenever needed.

Lifetime Activation & Low Monthly Fees

Lifetime activation with no recurring setup fees, along with a low monthly fee of $122 directly deducted from the account.

No Reset Fees

Unlike some firms, Phidias doesn’t charge for resets on Phidias-CASH or MASTER accounts, offering more stability to traders.

EOD Trailing Drawdown

The EOD trailing drawdown stops running after $50,000 in profit, reducing pressure on traders once they achieve a comfortable cushion.

Disadvantage

Strict Drawdown Limit

The $50,000 drawdown limit could be restrictive for some traders, especially those running high-volume or high-risk strategies.

Limited Automated Trading

Phidias prohibits fully automated trading algorithms, which may limit traders who rely heavily on automated strategies.

Mandatory $20,000 Account Balance for Withdrawals

Traders must leave at least $20,000 in their account when making withdrawals, which might restrict access to funds.

Restricted Treasury Bond Strategies

Some arbitrage strategies on US Treasury bonds are banned, potentially limiting traders who focus on this market segment.

Scalable Profit Split Requires Progress

While the profit split can reach up to 90%, traders must first withdraw significant profits to access higher profit splits, which may be challenging for some.

Additional Fees for Market Data

Traders have to pay extra for market data access, with EUREX and other exchanges incurring separate fees, which may add to the overall cost of trading.

Elite Account Requirements

The MASTER account is exclusive and only accessible to top-performing traders, potentially excluding newer or less-experienced traders from accessing higher capital allocations.

Conclusion

Phidias Propfirm presents itself as a top-tier choice for experienced traders looking for significant capital, flexibility, and growth potential. With its $1 million MASTER account, scalable profit splits up to 90%, and access to global markets, Phidias caters to serious traders who prioritize long-term growth and stability. The absence of withdrawal limits and a low activation fee further enhance its appeal.

However, the firm’s strict drawdown policies, limitations on automated and news-based trading, and the requirement to maintain a minimum account balance for withdrawals may pose challenges for some traders. Additionally, the firm's policies are designed to foster discipline, meaning it may not be the best fit for traders who thrive on speculative or high-frequency strategies.

Overall, Phidias Propfirm is an excellent choice for disciplined traders who are ready to meet the demands of professional trading while enjoying the support and resources that can propel their careers to new heights. If you are a seasoned trader seeking a well-rounded prop firm with significant capital and growth opportunities, Phidias is worth considering.

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September 30th , 2024

Published by The Clever Trader

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