Phoenix Trader Funding Review 2024

Overview

Phoenix Trader Funding, a new futures prop firm based in Paris, France, aims to stand out in the competitive proprietary trading world by empowering aspiring traders through a comprehensive program. They offer a blend of simulated accounts, real market access, and attractive profit-sharing opportunities.

With a focus on risk management, Phoenix Trader Funding provides a structured, risk-free environment for traders to hone their skills using a practice account before moving to live trading. Their flexible 1-Step evaluation process allows traders to access funding up to $150,000, along with a generous 90% profit share on funded accounts.

1. Full Static Drawdown

The Ascension accounts stand out with their completely static drawdown feature, designed to closely mirror the real trading experience while remaining affordable. This means you can trade confidently, knowing your risk parameters are clear and manageable.

2. Trade Whenever You Want

With Phoenix Trader Funding, you have the flexibility to trade whenever it suits you. Trading is available during holidays and high-impact news periods, from 6 PM ET to 4:59 PM ET. This allows you to capitalize on market opportunities without restriction, making it a trader-friendly environment.

3. Reset Coupons

One of the standout benefits is the Free Monthly Reset available with each challenge. You can utilize this reset anytime, even if you haven't failed the challenge, providing you with valuable flexibility as you hone your trading skills.

4. Live Funding

As you accumulate winnings and reach your withdrawal goals, you'll transition to a Live Funded account with Phoenix Trader Funding’s partner, EdgeClear. This significant step brings you even closer to the authentic experience of being a professional trader, allowing you to manage real capital.

5. Innovative Scaling Plan

The Innovative Scaling Plan is a game-changer for both funded accounts and challenges like the Ascension account. You can potentially scale up to over $300,000 in static account funding, offering substantial growth opportunities as you prove your trading consistency.

6. Infinite Training

To ensure you’re always improving, Phoenix Trader Funding provides Practice accounts with identical features to your challenge account. This allows for unlimited free resets, giving you the chance to refine your strategies without the pressure of real-money trading.

How it Works?

1. Choose an Evaluation

The journey to becoming a funded trader begins with selecting an evaluation. This crucial step assesses your ability to generate consistent profits in the markets. 

To succeed, you need to hit your profit target before hitting your stop loss. For most accounts, you’ll have a minimum of 3 days to demonstrate your trading skills (10 days for Ascension accounts). It’s that straightforward!

2. You’re Funded!

Congratulations! Completing the evaluation means you’ve proven your capabilities. You’ll receive a certificate and an invitation to sign an agreement, officially starting your journey to earning real profits. 

After the evaluation phase, your account balance resets to the same starting amount, but here’s the exciting part: you won’t have a profit target to meet anymore! Just keep in mind that the stop loss from your evaluation account still applies, ensuring prudent risk management.

3. Withdraw Your Gains

You’ve demonstrated consistency in the markets, and now it’s time to reap the rewards. Withdrawing your earnings is simple: just visit your client portal and submit a withdrawal request. 

Keep in mind that for the first month, the minimum withdrawal amount is $500. Payments are convenient, available via cryptocurrency or through transfers with our trusted partner, Payoneer.

4. Scale Things Up!

Once you’ve shown your profitability, the possibilities for growth expand significantly. 

You can scale your trading by increasing your position size, enhancing your daily drawdown limits for fixed accounts, and even gaining access to broker accounts backed with actual funding. 

The opportunity for direct collaboration with our team could also be on the table, allowing you to take your trading journey to new heights.

Evaluation Accounts

Phoenix Trader Funding provides two challenge options: both involve a one-step evaluation. Additionally, there's a practice challenge to help you get familiar with the platform and fine-tune your trading strategy before starting the Classic or Ascension Challenge to get funded.

Practice Accounts (Free with Challenge Purchase)

• Purpose: Simulate real-life trading without risking capital.

• Features: Mirrors funded account properties (balance, position size, profit targets, drawdown limits).

• Benefits:

  • Test trading strategies.

  • Get familiar with the platform.

  • Practice risk management before attempting funded challenges.

• Limitations:

  • Cannot be funded.

  • Performance doesn’t affect funded challenges (and vice versa).

Funded Challenge Options

Classic Challenge

Account Sizes: $50k, $100k, or $150k starting balance.

• Profit Target: $3,000, $6,000, or $9,000 depending on the chosen size.

• Risk Management:

  • Trailing Drawdown: Limits how much your account value can decline from its peak ($2,000, $3,000, or $4,500 respectively).

  • No Daily Drawdown Limit: Intraday losses are unrestricted.

• Trading Requirements:

  • Minimum 3 trading days.

  • Maximum contract limits (5, 10, or 15 depending on size).

• Fees:

  • $149 activation fee (refunded on first payout).

  • Monthly fee of $49, $99, or $149 based on account size.

• Real-time Market Data: Included.

Ascension Challenge

Core Concept: Removes trailing drawdown but utilizes fixed daily drawdown limits and scaling plans.

• Key Rules:

  • Maximum Position Size: No strict contract limit, but exceeding the account’s maximum size for more than 10 seconds leads to disqualification.
    
    

  • Daily Drawdown Limits: Vary based on the chosen “Scaling Plan” (failing to meet these limits results in disqualification). Stop-loss orders are highly recommended for risk management.
    
    

  • Activation Fee: $149 (deducted from your first payout).

• Account Options:

  • $50k Challenge:

    • Profit Goal: $4,000

    • Daily Drawdown: $625 – $1,125 (scaling plan dependent)

    • Max Position Size: 2 – 3 contracts (scaling plan dependent)

    • Monthly Fee: $270

  • $150k Challenge:

    • Profit Goal: $10,000

    • Daily Drawdown: $1,250 – $2,250 (scaling plan dependent)

    • Max Position Size: 3 – 5 contracts (scaling plan dependent)

    • Monthly Fee: $540

Challenge Reset Options

• Renewal: Should you not succeed in a challenge, your account may automatically renew the following month. Any failed renewals will be reset at no additional cost.

• Instant Reset Fee: For a fee of $85, you can take advantage of unlimited resets, with the cost remaining the same regardless of your initial account size.

Overview

Phoenix Trader Funding presents a diverse array of challenge accounts tailored to meet various risk appetites and trading styles. 

It’s essential to carefully assess the rules, fees, and risk management features to choose a challenge that aligns with your personal trading objectives.

Important Considerations

• Familiarize yourself with the platform’s features and functionalities before diving into a challenge. This preparation will enhance your chances of success!

• Investigate the specifics of the “Scaling Plans” included in the Ascension Challenge to maximize your potential.

Phoenix Trader Funding Guidelines & Rules

Phoenix Trader Funding places a strong emphasis on comprehensive evaluations before issuing funded accounts. Below is an overview of the essential rules aimed at assessing your trading skills and potential:

Minimum Trading Activity Requirements

• Classic Account: To qualify, you must achieve a minimum of three profitable trading days during the challenge period, with each winning day yielding at least $200 in profit.

• Ascension Account: This account requires a minimum of ten trading days, regardless of daily profits.

Understanding the Differences

When Phoenix funds your trading account, they assume financial risk. To manage this risk prudently, they need to evaluate your trading abilities and risk management strategies.

• Classic Account: By focusing on winning days, Phoenix can determine the profitability potential of your strategy.
  
  

• Ascension Account: The ten-day trading requirement enables Phoenix to monitor the execution of your strategy over a more extended period.

Early Completion of the Ascension Challenge

Some traders may try to exploit the system by scalping micro-contracts to satisfy the ten-day requirement. This tactic, referred to as the “Funding Zone,” is strictly forbidden.

Consequences of Using the “Funding Zone”

While using this method won't disqualify you outright, any days obtained in this way won't count towards your minimum trading days. You will still need to complete at least ten days of trading using your standard strategy, even if you’ve achieved the profit goal.

In summary, both Classic and Ascension accounts mandate minimum trading activity. The Classic account emphasizes winning days, while the Ascension account focuses on overall strategy execution across a longer timeframe.

The 30% Rule

This rule is applicable solely to Ascension challenges and funded accounts, regardless of the challenge type.

• Rule Explanation: No single day’s profit should surpass 30% of your total cumulative profits throughout the challenge.

Example: For a hypothetical $100,000 challenge, consider the following performance:

• Day 2: Profit of $3,540 (which exceeds the 30% threshold of your total gains at that point). While your overall profit by Day 10 may be adequate, surpassing the 30% rule on Day 2 will delay your validation.

Addressing a 30% Rule Violation: This doesn’t indicate failure; you simply need to keep trading until Day 2’s profit is less than 30% of your total cumulative gains.

Applicability Beyond the Challenge: The 30% rule also applies to funded accounts. Consistent profitability is crucial for successful withdrawals.

Key Takeaways

• Challenge Profits Do Not Transfer: Earnings generated during the challenge will not carry over to your funded account.
  
  

• Profitability is Encouraged: The goal is to achieve consistent profitability, not to restrict your earning potential.
  
  

• Funded Account Eligibility: Successfully meeting challenge requirements makes you eligible to apply for a funded account with Phoenix Trader Funding. This is a competitive process, and if you face repeated rejections, view them as opportunities to enhance your skills before reapplying after 30 days.

By familiarizing yourself with and adhering to these guidelines, you can effectively showcase your trading abilities and increase your chances of securing a funded account with Phoenix Trader Funding. Remember, maintaining consistent performance is vital for long-term success in the futures market!

Scalping Strategies

Phoenix Trader Funding embraces scalping strategies, but it comes with certain limitations to ensure a balanced trading environment:

• Trade Frequency: Traders are allowed a maximum of 200 trades per day. This cap helps maintain focus and avoids overtrading.

• Trade Duration: Each trade must remain open for at least 5 seconds. This rule encourages thoughtful trading rather than impulsive decisions.

Be mindful: violations of these rules will result in a warning. If your strategy doesn’t adapt after the warning, your challenge will be disqualified, emphasizing the importance of discipline in your trading approach.

Trading Accounts

• Challenge Attempts: One of the standout features is that you can attempt an unlimited number of Phoenix Trader Funding challenges to qualify for funded accounts. This offers ample opportunity to refine your trading strategy.
  
  

• Funded Account Limit: You can hold a maximum of X “Pre-Funded” or “Funded-Tier” accounts simultaneously. This policy promotes focus and consistency, especially within their Scaling Programs, allowing traders to hone their skills effectively.

Trading Hours

Trading Availability: Traders have the flexibility to engage in trading from 6:00 PM ET to 4:59 PM ET, even during holidays and significant news announcements. This broad window allows for strategic planning around market volatility.

News Trading Restrictions

Tier 1 News Events: For funded accounts and challenges, there are specific restrictions regarding “Tier 1” news events:

• Trading Restrictions: You cannot hold a position within 2 minutes before or after a Tier 1 news release. This rule aims to mitigate the risks associated with high-volatility trading around crucial news events, which Phoenix Trader Funding likens to gambling.
  
  

• Disqualification for Violations: Any breach of the Tier 1 news trading rule can lead to account disqualification, whether you are a funded trader or participating in a challenge.

Examples of Tier 1 News Events:

• FOMC Minutes (Federal Open Market Committee) – All Products (Release time: 1:00 PM ET)

• FOMC Interest Rate Decision – All Products (Release time: 1:00 PM ET)

• Consumer Price Index (CPI) – All Products (Release time: 7:30 AM ET)

• Employment Report (Non-Farm Payrolls) – All Products (Release time: 7:30 AM ET)

• Crude Oil Inventories (EIA) – Oil Contracts Only (Release time: 9:30 AM CT / 10:00 AM CT*)

• Natural Gas Inventories (EIA) – Gas Contracts Only (Release time: 9:30 AM CT)

• Crop Production Reports – Ag Contracts Only (Release time: 11:00 AM CT)

Practice Account Allowance

While Tier 1 news trading is restricted on funded accounts and challenges, you have the opportunity to practice such strategies on the provided Practice Accounts without any penalties. This feature allows traders to explore and refine their techniques in a risk-free environment.

Accessing the Funded-Tier Account

Successfully completing a challenge with Phoenix Trader Funding opens the door to a “Pre-Funded” account, a crucial stepping stone towards the highly sought-after “Funded-Tier” account that comes with real capital. Here’s what you can expect on your journey:

Thorough Trade Analysis

Before granting a Funded-Tier account, Phoenix Trader Funding conducts a meticulous analysis of your trading history from the Pre-Funded account. This evaluation goes beyond merely achieving profit targets and focuses on two key aspects:

• Risk Management Strategy: Did you consistently apply an effective risk management approach?
  
  

• Sustainable Performance: Was your success the result of skill or mere luck?

Common Reasons for Disqualification

Many traders find that their progress stalls due to factors such as:

• Uncontrolled Losses: Trades taken with excessive risk that stray from your established risk management plan can hinder your advancement.

Successful Analysis Leads to a Meeting

If your trading analysis is positive, Phoenix Trader Funding will invite you to a meeting designed to foster understanding and collaboration. This meeting aims to:

• Understand Your Trading Philosophy: Discuss your approach to the market and the strategies you employ.
  
  

• Align Goals and Vision: Ensure that your long-term goals align with Phoenix Trader Funding’s vision for a successful partnership.

Note: This meeting is not a traditional job interview. Instead, it’s a collaborative discussion to determine if both parties are a good fit for a fruitful trading relationship.

Understanding Trailing Drawdown

What is Trailing Drawdown?

Imagine executing a profitable trade. A trailing drawdown serves as a safety net, protecting your hard-earned gains. Here’s how it operates:

• You establish a rule: If your account value drops below a predetermined point from its peak equity, your position will automatically sell to secure some of your profits.
  
  

• This safety net (trailing drawdown limit) adjusts as your equity increases, maintaining a buffer between your peak equity and your exit point. This strategy allows you to lock in profits even if the market moves against you.

Trailing Drawdown Applied to Your Account

This principle applies to your entire account, illustrated by two lines on a graph:

• Blue Line: Represents your account balance over time.
  
  

• Orange Line: Represents your trailing drawdown limit.

If your account balance (blue line) falls below the trailing drawdown limit (orange line), your challenge is disqualified.

Two Trailing Drawdown Calculation Methods

1. Unrealized PnL Method: This method continuously adjusts the trailing drawdown limit based on your highest unrealized profit or loss. As your unrealized PnL fluctuates, the trailing drawdown limit moves accordingly.
   
   

2. End-of-Day (EOD) Trailing Drawdown: In contrast, this method sets the trailing drawdown limit once a day at market close. It’s based on your account’s highest value at the end of the trading day and remains fixed until the next market close, offering stability.

Benefits of EOD Trailing Drawdown

• Stability: The EOD method provides a more stable approach, as the drawdown limit doesn’t constantly fluctuate with unrealized PnL changes.
  
  

• Greater Freedom: This method allows for more trading flexibility compared to the unrealized PnL method.

At Phoenix Trader Funding, all challenges with a trailing drawdown utilize the EOD method, represented by the orange line on the graph.

Unrealized PnL Drawdown

For illustration, the graph can also feature:

• Dark Blue Line: Represents your unrealized account balance (including open positions).

• Red Line: Represents the trailing drawdown limit calculated based on unrealized PnL.

If the light blue line (account balance) dips below the red line (trailing drawdown limit based on unrealized PnL), the challenge is disqualified. This setup can be more challenging and offers less trading flexibility.

Learning Trailing Drawdown

While trailing drawdown concepts may seem complex at first, the EOD trailing drawdown method is generally more beneficial for traders, especially beginners. 

With practice, you’ll gain clarity and confidence in utilizing this important risk management tool.

Trailing Drawdown in Funded Accounts

Yes, trailing drawdown also applies to funded accounts, but with a unique twist:

• It remains active for a specific period.

• Once your trailing drawdown exceeds your initial account balance plus $100, it no longer applies.

Funded Account Trailing Drawdown Example

For instance, consider a $10,000 funded account with a trailing drawdown set to $2,000. This means your account equity cannot fall below $8,000 (initial balance + $100 buffer). Once your equity dips below $8,000, the trailing drawdown is no longer enforced.

By understanding trailing drawdown and its application within Phoenix Trader Funding, you can leverage this valuable risk management tool to protect your capital while navigating the trading landscape. Whether you’re a novice or an experienced trader, mastering this concept is essential for long-term success.

Ascension Accounts and Scaling Plans at Phoenix Trader Funding

Understanding Intra-Challenge Scaling

One of the standout features of Ascension Accounts at Phoenix Trader Funding is the Intra-Challenge Scaling. 

This exclusive capability allows traders to automatically enhance their trading power based on performance during the challenge. It affects two critical aspects of your trading:

• Maximum Position Size: As you reach specific profit targets, the number of contracts you can trade simultaneously increases.
  
  

• Daily Drawdown Limit: The maximum acceptable loss allowed in a single trading day also rises as your account grows.

Important Note: Intra-challenge scaling is only available for Ascension accounts and is not applicable to other account types within Phoenix Trader Funding.

Example of Scaling for a 50K Ascension Account

• Starting Position Size: You start with a maximum position size of 2 mini contracts (equivalent to 20 micros).
  
  

• Profit Target 1: Once your net profit exceeds $2,500, your position size automatically increases to 3 mini contracts (30 micros) and remains at this level for the duration of the challenge.

Example of Scaling for a 150K Ascension Account

• Starting Position Size: Begin with a maximum position size of 3 mini contracts (30 micros).

• Profit Target 1: Exceeding $2,000 in net profit increases your position size to 4 mini contracts (40 micros).

• Profit Target 2: Surpassing $6,000 in net profit further boosts your position size to the maximum of 5 mini contracts.

Daily Drawdown Adjustments

Similar to position sizes, the daily drawdown amounts adjust based on performance:

• For the 50K Account:

  • Starts with a daily drawdown limit of $625.

  • Increases to $1,125 once your net profit exceeds $2,500.

• For the 150K Account:

  • Starts with a daily drawdown limit of $1,250.

  • Increases to $1,750 upon reaching $2,000 in net profit.

  • Further increases to $2,250 after surpassing $6,000 in net profit.

Funded Account Scaling Approach

Phoenix Trader Funding places a strong emphasis on static drawdown accounts for funded traders. This approach means that the daily drawdown limit remains fixed throughout the funded account period, providing a clearer picture of a trader’s long-term risk management skills.

Profit Sharing and Payout Rules

Profit Sharing Structure:

Phoenix Trader Funding offers a straightforward and transparent profit-sharing model:

• Standard Split: Traders retain 80% of their profits generated while trading with a funded account, while Phoenix Trader Funding receives 20%.

• Performance Incentive: This split can improve to a 90/10 share in your favor if you demonstrate exceptional consistency over at least 6 months. A manual review of your account is necessary to qualify for this increased share.

Why This Structure?: Phoenix Trader Funding believes this profit-sharing model fosters collaboration with successful traders rather than competition.

Current Payout Rules

• Minimum Trading Activity: You must have actively traded for at least 10 days before requesting a payout.

• Payout Frequency: One payout is allowed per month by default, with the option to increase it to two payouts per month subject to manual review of your account performance. This review typically takes 72 hours.

• First Payout Timing: The first payout becomes available after 10 trading days on your funded account

• Consistency Rule: The 30% consistency rule applies to funded accounts, meaning no single trading day’s profit can exceed 30% of your total cumulative profits since the last payout.

• Minimum Payout: The minimum withdrawal amount is set at $500.

• Maximum Payout: The maximum payout per request is capped at $2,000, with the total payout not exceeding 3 times your account’s total drawdown or $6,000 (whichever is lower).

• Payout Buffer: Your account must maintain at least $100 in profit after fulfilling your payout request to ensure a safety net.

• Payment Processor: Phoenix Trader Funding utilizes Payoneer for bank transfers and manages cryptocurrency payouts internally.

Supported Trading Platforms

Phoenix Trader Funding offers access to a diverse range of trading platforms, enhancing flexibility and options for traders. Here’s a list of over 20 platforms supported:

• QScalp

• Tslab

• Collective2

• Investor/RT

• Multicharts

• Overcharts

• Medved Trader

• Photon Trader

• OptimusFlow

• Quantower

• Agena Trader

• SierraChart

• MotiveWave

• ScalpTool

• Trade Navigator

• Atas

• NinjaTrader (with your own license)

• InsideEDGE Trader

• R | Trader / R | Trader Pro

The Ascension Accounts at Phoenix Trader Funding offer a unique scaling opportunity, allowing traders to enhance their trading capabilities based on performance. With clear profit-sharing structures and a variety of supported trading platforms, Phoenix Trader Funding provides a solid foundation for traders seeking to grow their accounts and achieve long-term success. Whether you’re just starting or are an experienced trader, these accounts present valuable opportunities to scale your trading ambitions.

Tradable Products Offered on Trading Platforms

When it comes to trading, having access to a diverse array of financial instruments can significantly enhance your trading experience. The platforms supported by Phoenix Trader Funding offer a comprehensive range of tradable products, catering to various trading strategies and preferences. Here’s a closer look at the types of instruments available:

1. Equity Futures

Equity futures are an excellent choice for traders looking to capitalize on the performance of stock market indexes. These contracts allow you to track major indices like the S&P 500 and NASDAQ, offering a straightforward way to gain exposure to the overall market without the need to buy individual stocks.

2. FX Futures

For those interested in the foreign exchange market, FX futures present a valuable opportunity. These contracts represent agreements to buy or sell currencies at a predetermined price on a future date. Popular currency pairs available include EUR/USD, GBP/USD, and JPY/USD, making it easier to implement various trading strategies in the forex market.

3. Metals Futures

Precious metals are a favored asset class for traders seeking a hedge against inflation or economic uncertainty. The platforms offer metals futures contracts based on valuable commodities such as Gold, Silver, and Platinum. These contracts can be a great addition to a diversified trading portfolio.

4. Agricultural Futures

If you’re interested in commodities, agricultural futures allow you to trade contracts for essential products like Corn, Wheat, Soybeans, and Lean Hogs. These instruments can be particularly appealing for traders looking to diversify their investments or capitalize on seasonal price movements in the agricultural sector.

5. Bond Futures

Bond futures provide an avenue for trading based on US Treasury bonds with varying maturities. This allows traders to speculate on interest rate movements or hedge existing bond positions effectively.

6. Energy Futures

Finally, energy futures contracts are essential for those focused on trading energy products. With contracts for Crude Oil, Natural Gas, and Gasoline, traders can engage in a dynamic market that reacts to geopolitical events, supply and demand fluctuations, and other factors affecting energy prices.

Overall, the variety of tradable products available on Phoenix Trader Funding's platforms equips traders with the tools needed to navigate the financial markets effectively. Whether you’re interested in equities, foreign exchange, commodities, or energy, there’s a product suited to your trading style. This diversity not only enhances trading strategies but also allows for better risk management and portfolio diversification. With such an extensive selection of instruments at your fingertips, traders can feel confident in their ability to capitalize on market opportunities.

Commissions

Commissions are charged for each trade you execute. Here’s a breakdown of the commissions applied to your account (challenges and funded accounts) using Rithmic as the data feed:

• Equity Futures: Commissions range from $0.51 to $1.99 per side (round turn).

• FX Futures: Commissions range from $0.42 to $2.36 per side (round turn).

• Metals Futures: Commissions range from $0.76 to $2.31 per side (round turn).

• Agricultural Futures: Commissions are $2.79 per side (round turn) for all contracts.

• Bond Futures: Commissions range from $1.36 to $1.72 per side (round turn).

• Energy Futures: Commissions range from $0.51 to $1.99 per side (round turn).

Note: This information is not an exhaustive list of all tradable products and commission rates. It’s recommended to refer to the Phoenix Trader Funding website for the latest details.

Phoenix Trader Funding: A Comprehensive Review of Advantages and Disadvantages

If you’re contemplating a partnership with Phoenix Trader Funding, it’s crucial to weigh the benefits and drawbacks. Here’s a detailed breakdown to assist you in making an informed decision.

Advantages

Flexible Account Sizes

Phoenix Trader Funding recognizes that traders have varying capital levels. With a range of account sizes, they cater to everyone from beginners to seasoned traders.

1. Innovative Scaling Plans
   Available exclusively for Ascension accounts, these plans automatically enhance your position size and daily drawdown limit as your profits increase. This rewarding structure encourages and supports successful trading performance.
   
   

2. Free Trial Option
   Unsure about committing? Phoenix Trader Funding offers a free trial, allowing you to test the platform and its features without any financial commitment.
   
   

3. Clear Risk Management Framework

   • Fixed Drawdown Challenges: This feature ensures a predictable risk management structure, making it easier to navigate challenges.

   • Fair End-of-Day (EOD) Drawdown: You’ll receive daily transparency regarding your account’s health through this straightforward calculation.

   
   

4. Growth Potential
   The scaling plans enable traders to gradually increase their trading volume, fostering skill development and confidence in their strategies.
   
   

5. Low Minimum Withdrawals
   Accessing your profits is hassle-free, thanks to a low minimum withdrawal threshold that makes it easy to manage your earnings.

6. Flexible Trading Hours
   With extended trading hours, you can engage in trading activities that suit your schedule, enhancing convenience and flexibility.
   
   

7. Affordable Evaluations
   The cost-effective evaluations provide a pathway to access funded accounts without putting a strain on your finances.

Disadvantages

1. Limited Track Record
   As a newer player in the proprietary trading arena, Phoenix Trader Funding may not have as extensive an online presence or as many reviews compared to more established firms.
   
   

2. Minimum Trading Activity Requirement
   Traders must engage in at least 10 days of trading before being eligible to request a payout, which may be a hurdle for some.
   
   

3. Profit Sharing Structure

   • Standard Split: The initial profit-sharing model begins at an 80/20 split in favor of Phoenix Trader Funding.

   • Performance Incentive: While there’s potential for a more favorable 90/10 split after 3 to 6 months of consistent performance, it requires a manual review process.

   
   

4. Limited Instruments Available
   Currently, Phoenix Trader Funding primarily focuses on futures contracts, which may limit trading options for those interested in other asset classes.
   
   

5. Payout Restrictions

   • Limited Frequency: Initially, only one payout is permitted per month, although you can request a second payout, subject to a manual review.

   • Maximum Payout Limits: Payouts are capped, and larger withdrawals may necessitate a manual review.

Conclusion

Phoenix Trader Funding offers a compelling array of features for aspiring futures traders, including flexible account options, competitive pricing, and significant growth potential. Their transparent risk management strategy, featuring fixed drawdowns and daily assessments, instills confidence in traders. However, being relatively new to the industry may lead to limited resources and stricter payout protocols compared to some more established competitors. These payout limitations reflect a cautious approach to risk management.

Ultimately, Phoenix Trader Funding can serve as a valuable stepping stone for traders aiming for a funded futures account, particularly those who appreciate a clear risk management framework and a growth-oriented environment. However, potential traders should carefully consider the limitations, especially regarding the payout structure, before making a commitment.

FAQ

What happened after you pass the evaluation?

• Your challenge will be analyzed by our team to check that you haven’t broken any of our rules. This process can take up to 72 hours after the day you qualified (usually much less).

• You will then receive a contract that you must sign within 48 hours. If the contract is not signed within 48 hours,the evaluation is declared null and void.

• Once the email has been signed, your dashboard will be updated and a GET FUNDEDbutton will appear, redirecting you to a payment page.

The fee for a funded account is $149 ONE-TIME, regardless the size of the original account. There is no monthly subscription

Can i reset?

Yes, we allow resets for all challenges.

The reset fee is $85, accessible from your dashboard.

An account can be reset as many times as you like.

What happens if I fail my Evaluation?

If you miss your evaluation, if you exceed your maximum drawdown, you have 2 choices:

• Wait for your account to be renewed the following month. If your account fails at renewal, we’ll reset it at no extra charge.

• Pay a $85 reset fee (available on your dashboard), and your account will be reset instantly. There is no limit to the number of times an account can be reset.

  • The reset amount depends on the initial account size. If you started a $50K Classic challenge then the fee is only $43, for all other accounts (including the $50K Ascension), the fee is $85.

What is a PRACTICE account and how does it work?

Practice accounts are simulation accounts, designed to train you without the pressure of the current challenge. Each challenge purchased comes with a Practice account, which has the same properties (maximum position, drawdown, profit goal, etc).

If you fail a Practice account, you can reset it for free, without limit.

Practice accounts CANNOT BE FUNDED, they are only training accounts. Moreover, the challenge and practice accounts are completely disconnected, so winning or losing on one account has no influence on the other.

Note: Practice accounts are still under development, so they are not yet visible in your user dashboard and may take up to 24 hours to be set up and visible on your Rithmic dashboard.