Halcyon Trader Funding
We would not take itThree futures programs, not one: Lite trails on live equity and never freezes, Prime runs an end-of-day floor with a 40% consistency rule, and Dynamic lets the buyer pick between the two at purchase. Every drawdown, target and payout figure lives in the help centre, not in the agreement the trader signs, and that agreement reserves the right to deny a reward the homepage counts as “ZERO”.
Drawdown rules →Payout rules →
Read on 13 September 2026 from the Trader Agreement, the User Agreement, the public pricing page and nineteen help-centre articles. Lite and Prime pay 90/10, cap a request at $1,000–$3,000 by size, allow five rewards and pin the floor at the starting balance plus $100 after the first one; the split is settled through Rise in up to three business days. Prime and the end-of-day Dynamic add a 40% consistency rule that delays a payout instead of failing the account. The reward policy was rewritten for accounts bought after 8 August 2026 and the first reward shortened again on 29 August 2026, so two buyers can hold opposite payout rules. The firm sells a separate prediction-markets subscription (80/20, $4,600 threshold, $10,000 lifetime per account) that the challenge schema has no shape for; it is named and left unenumerated. The CLOSED code was withdrawn on 30 July 2026: this is a company still selling accounts, not a closed one.
Your account’s floor
The balance below which the firm closes the account. Each item with the firm’s own sentence. Read on the challenge: Halcyon Lite.
- Maximum total loss · funded accountstated
- 4%
“Account Size Trailing Drawdown Required Reward Buffer Minimum TLV After Buffer If TLV Falls Below $25,000 $1,000 $1,100 $25,100 Account Failed & Closed $50,000 $2,000 $2,100 $50,100 Account Failed & Closed $150,000 $4,000 $4,100 $150,100 Account Failed & Closed”
read on 2026-09-13 · halcyontraderfunding.kb.help · saved copy - Maximum loss in one day · phase 1none
“No Daily Loss Limit”
read on 2026-09-13 · halcyontraderfunding.com · saved copy- When the floor moves · funded accountstated
- with your live balance
“The trailing drawdown follows your highest Total Liquidation Value (TLV) throughout the life of the account.”
read on 2026-09-13 · halcyontraderfunding.kb.help · saved copy - When it stops movingstated
- never stops
“The trailing drawdown follows your highest Total Liquidation Value (TLV) throughout the life of the account.”
read on 2026-09-13 · halcyontraderfunding.kb.help · saved copy - What a payout does to itstated
- it tightens
“Upon the first approved reward request, the account's maximum loss limit will permanently move to the account's original starting balance plus $100.”
read on 2026-09-13 · halcyontraderfunding.kb.help · saved copy
Its challenges
Judged, clean of all seven hard bars, and the scorecard still came in under the bar. Nothing here is an accusation — it is a firm we would not open an account with, and the card says on which axes it fell short.
What they published
“DeepCharts is a high-performance charting and execution platform built for speed and precision—included free with every Volumetrica account purchase.”“Incorporated in Michigan, USA”Scorecard
8Trails your live equity and never stops
The group holds a real licence, but you contract offshore
Workable, but a cap or a waiting period bites
Two official channels disagree on a number that matters
Under a year, or too few reviews to mean anything
Each axis is scored 0–5 against a published scale. The line under each bar is the rung this firm landed on — not our summary of it, the scale entry itself.
Plan by plan
4 of this firm’s challenges were read plan by plan, with a citation behind every answer. See them side by side →
One evaluation, three sizes, one trailing floor that follows the highest Total Liquidation Value on both realised and unrealised profit and never freezes. One trading day to pass, 30 calendar days before the account expires, target 5.4% on the 25K (the firm prices it at $1,350 and the percentage moves with size).
The end-of-day floor, a flat 6% target at every size, and a 40% consistency rule in evaluation and in reward. Three trading days to pass unless the paid 1-Day Pass buys the consistency rule off.
One $50,000 evaluation at $47 with the trailing floor, pass in one trading day, then choose a 50K–150K reward account and whether the 40% consistency rule applies.
The same evaluation with the end-of-day floor, at $49; the reward side is identical to the trailing plan.
Trustpilot
What this firm published
Everything below is quoted from a page we opened, on the date shown. The quotes are in the firm’s own language, exactly as published — never edited, never shortened, never swapped for a translation. On the Spanish edition our own rendering appears underneath each one, unquoted and marked as ours: the quotation marks on this site mean the words are the firm’s, and nothing we wrote ever wears them. Where we have not read enough to put a number on an axis, we say so instead of guessing.
2/5
Can you even pass?
Almost nobody who pays for an evaluation ever reaches a funded account, so this is the part of the product most customers actually buy. Every firm advertises its profit target; none of them advertises that target next to how much you are allowed to lose while chasing it.
2/5
Can you keep the money?
The drawdown takes the account away; the payout rules take the money. Answered by whichever of the two we can measure and is worse — they are two ways of losing the same thing, so a good half cannot pay for a bad one.
4/5
Is anyone behind it?
A named company, a market, and rules you could read before paying. These three do not substitute for one another — a company you can sue does not stop existing because the account is a simulation — so this is the average of the ones we could measure, not the worst.
How hard the test is
Not the profit target on the sales page — that target measured against the room you are given to reach it.
How much you must win to survivefor every $1 you are allowed to lose, you must make $1.42.40/8
“Account Size Profit Target Trailing Drawdown Contracts Allowed 25K $1,350 $1,000 3 minis / 30 micros 50K $2,750 $2,000 5 minis / 50 micros 150K $8,500 $4,000 10 minis / 100 micros”A profit target only means something next to the room you are given to reach it. Ten per cent to make against ten to lose is a coin flip sold as an exam.
Days you have to finish30 days1.05/3
“Traders have 30 calendar days from the date an evaluation is started to successfully pass the evaluation.”A deadline turns a test of skill into a test of whether the market happened to move during your month.
Trading days you must put in1 days2/2
“Minimum of 1 trading day required to pass.”Cuts both ways: it costs you time, and it also stops an account passing on one lucky afternoon you could never repeat.
A second attempt costsa second attempt is discounted1/2
“This effectively gives traders a completely new start at a slightly reduced rate compared to purchasing a brand-new account.”A free second attempt turns one bad week into a delay instead of another invoice.
Profit target5.4%—
“Account Size Profit Target Trailing Drawdown Contracts Allowed 25K $1,350 $1,000 3 minis / 30 micros 50K $2,750 $2,000 5 minis / 50 micros 150K $8,500 $4,000 10 minis / 100 micros”Maximum loss
The loss limit that closes your account. Does it sit still, or does it climb behind you as you win?
What makes the loss limit riseit rises tick by tick, while you tradeno change0.75/3
“The trailing drawdown follows your highest Total Liquidation Value (TLV) throughout the life of the account.”A limit that climbs takes back the cushion you already earned.
Where the limit stops risingit never stops rising0/3
“The trailing drawdown follows your highest Total Liquidation Value (TLV) throughout the life of the account.”The difference between a danger with an end date and one that never ends.
What the limit is measured againstlive equity, open trades includedno change1/2
“If at any point the trailing drawdown level is reached, the account will be considered failed.”Decides whether a trade that dips and recovers can close an account that ended the day green.
What taking a payout does to the limitit tightens, down to a fixed point just above it0/2
“Upon the first approved reward request, the account's maximum loss limit will permanently move to the account's original starting balance plus $100.”Taking your money out should not leave you closer to losing the account.
Daily limitThey state there is none.we did not read this stage2/2
“No Daily Loss Limit”A generous percentage measured on live equity is not generous — it is the same number with a trapdoor under it.
Total loss allowed4%no change0.25/1
“Account Size Trailing Drawdown Required Reward Buffer Minimum TLV After Buffer If TLV Falls Below $25,000 $1,000 $1,100 $25,100 Account Failed & Closed $50,000 $2,000 $2,100 $50,100 Account Failed & Closed $150,000 $4,000 $4,100 $150,100 Account Failed & Closed”How much room you have. Worth little, because almost every firm offers the same.
Withdrawing
How much can leave the account, how soon, how often — and whether they can say no.
Withdrawals before the account ends5 in total0.60/3
“Each Halcyon Lite Reward Account is eligible for a maximum of five (5) approved reward requests.”The cap per withdrawal times how many they allow is the real size of the account. One plan here is sold on a $200,000 banner and closes after five withdrawals of $2,100.
What else a payout changesthe day count starts over1.50/3
“Upon approval of a reward request, all qualifying trading days will reset to zero.”The floor is not the only thing a withdrawal moves, and the rest of it is never on the same page. Position size, the consistency rule and the share you are paid all reset or shift at some firms, and a trader who checked only the drawdown finds out afterwards.
What breaking the consistency rule costsThey state there is none.3/3
“No Consistency Rule”Weighted by what it costs, not by existing: reading plan by plan, no consistency rule ever closed an account — they postponed the withdrawal.
Can it refuse without giving a reasonyes — it reserves that right in writing0/3
“The Company may delay, reduce, or deny rewards due to incomplete KYC, rule violations, delayed documentation, or suspected fraud/manipulation.”“We may decline for any reason” is not a rule, it is the absence of one — it makes every other number on this axis conditional on goodwill.
Days before you can ask for money6 days2/2
“August 29 2026 - Reward Update: For accounts purchased after August 29, 2026, your first reward is available after 6 full trading days.”How long your money is theirs.
Most one withdrawal can pay you2.0% of the account, at worst0.50/2
“Account Size Maximum Reward $25,000 50% of profits up to $1,000 $50,000 50% of profits up to $2,000 $150,000 50% of profits up to $3,000”$2,000 is generous on a $25K account and a joke on a $200K one, so it is measured as a share and at the worst size sold.
Does that cap rise with the accountThey do not say.0/2
we read the page that should answer this and it does not
Profit required before the first requestThey do not say.0/1
we read the page that should answer this and it does not
How much you have to make before you can touch anything.
Fee charged to pay youThey do not say.0/1
we read the page that should answer this and it does not
What they charge you to pay you.
How you may trade
Can you trade the way you actually trade — around the news, over the weekend, at the size and speed you use?
Restriction around the newsThey state there is none.we did not read this stage—
“News Trading Allowed”Mandatory stop-lossThey do not say.no change—
we read the page that should answer this and it does not
Minimum time a trade must be heldThey state there is none.we did not read this stage—
“No Micro Scalping Rule”Forced close before the weekendnothing may stay open over the weekendno change—
“All accounts are strictly for day trading only .”LeverageNo such thing in this plan.no change—
“25K Account: 3 Mini / 30 Micros 50K Account: 5 Mini / 50 Micros 150k Account: 10 Mini / 100 Micros”Limit on position size3 · 5 · 10we did not read this stage—
“25K Account: 3 Mini / 30 Micros 50K Account: 5 Mini / 50 Micros 150k Account: 10 Mini / 100 Micros”No score here, on purpose. The six axes above ask whether the firm can take your money or refuse to pay it. These rules ask something else — whether you can trade your way — and the right weight depends on who is reading: a minimum holding time decides the account for a scalper and is invisible to anyone else, while the weekend rule is the reverse. A single number would be wrong for half of you, and would look decided. The firm’s own sentences are here; the judgement is yours.
How it grows
What makes the account get bigger, how big it can get, and whether the path ends at a real market or at a larger simulation.
What makes the account growThey do not say.—
we read the page that should answer this and it does not
How large it can getThey do not say.—
we read the page that should answer this and it does not
Where the path endsat a real market—
“After the fifth approved reward request, the account may be reviewed for eligibility to transition into the TLT Program or a Live Brokerage Account.”One of these questions is scored and it is not here. “Does the cap rise with the account” sits on the cash axis, next to the cap itself, because it has a right answer: a bigger account that pays the same cheque has handed you a larger number and the same money. The three below are different. A two-million ceiling is the whole point of the product for one reader and irrelevant to someone who wants one clean payout, so the firm’s sentences are here and the weight is yours.
How hard the test is
Not the profit target on the sales page — that target measured against the room you are given to reach it.
How much you must win to survivefor every $1 you are allowed to lose, you must make $1.52.40/8
“Account Size Profit Target EOD Drawdown Contracts Allowed $25K $1,500 $1,000 3 Minis / 30 Micros $50K $3,000 $2,000 5 Minis / 50 Micros $150K $9,000 $4,500 10 Minis / 100 Micros”A profit target only means something next to the room you are given to reach it. Ten per cent to make against ten to lose is a coin flip sold as an exam.
Days you have to finish30 days1.05/3
“Traders have 30 calendar days from the date an evaluation is started to successfully pass the evaluation.”A deadline turns a test of skill into a test of whether the market happened to move during your month.
Trading days you must put in3 days2/2
“The evaluation phase includes a 40% consistency rule , which means it requires a minimum of three (3) trading days to pass under standard conditions.”Cuts both ways: it costs you time, and it also stops an account passing on one lucky afternoon you could never repeat.
A second attempt costsa second attempt is discounted1/2
“This effectively gives traders a completely new start at a slightly reduced rate compared to purchasing a brand-new account.”A free second attempt turns one bad week into a delay instead of another invoice.
Profit target6%—
“Account Size Profit Target EOD Drawdown Contracts Allowed $25K $1,500 $1,000 3 Minis / 30 Micros $50K $3,000 $2,000 5 Minis / 50 Micros $150K $9,000 $4,500 10 Minis / 100 Micros”Maximum loss
The loss limit that closes your account. Does it sit still, or does it climb behind you as you win?
What makes the loss limit riseit rises with the day's closing balanceno change1.65/3
“Account minimum balance only updates at the end of your trading session for the day based on realized profits .”A limit that climbs takes back the cushion you already earned.
Where the limit stops risingit never stops rising0/3
“Account minimum balance only updates at the end of your trading session for the day based on realized profits .”The difference between a danger with an end date and one that never ends.
What the limit is measured againstlive equity, open trades includedno change1/2
“Falling below the account minimum at any time will result in account failure.”Decides whether a trade that dips and recovers can close an account that ended the day green.
What taking a payout does to the limitit tightens, down to a fixed point just above it0/2
“Upon the first approved reward request, the account's maximum loss limit will permanently move to the account's original starting balance plus $100.”Taking your money out should not leave you closer to losing the account.
Daily limitThey state there is none.we did not read this stage2/2
“No Daily Loss Limit”A generous percentage measured on live equity is not generous — it is the same number with a trapdoor under it.
Total loss allowed4%no change0.25/1
“Account Size Profit Target EOD Drawdown Contracts Allowed $25K $1,500 $1,000 3 Minis / 30 Micros $50K $3,000 $2,000 5 Minis / 50 Micros $150K $9,000 $4,500 10 Minis / 100 Micros”How much room you have. Worth little, because almost every firm offers the same.
Withdrawing
How much can leave the account, how soon, how often — and whether they can say no.
Withdrawals before the account ends5 in total0.60/3
“Each Halcyon Prime Reward Account is eligible for a maximum of five (5) approved reward requests.”The cap per withdrawal times how many they allow is the real size of the account. One plan here is sold on a $200,000 banner and closes after five withdrawals of $2,100.
What else a payout changesthe day count starts over1.50/3
“Upon approval of a reward request, all qualifying trading days will reset to zero.”The floor is not the only thing a withdrawal moves, and the rest of it is never on the same page. Position size, the consistency rule and the share you are paid all reset or shift at some firms, and a trader who checked only the drawdown finds out afterwards.
What breaking the consistency rule costsit delays the payoutno change2.10/3
“The evaluation phase includes a 40% consistency rule , which means it requires a minimum of three (3) trading days to pass under standard conditions.”“No single trading day’s profit may exceed 40% of total profits earned during the qualifying period.”Weighted by what it costs, not by existing: reading plan by plan, no consistency rule ever closed an account — they postponed the withdrawal.
Can it refuse without giving a reasonyes — it reserves that right in writing0/3
“The Company may delay, reduce, or deny rewards due to incomplete KYC, rule violations, delayed documentation, or suspected fraud/manipulation.”“We may decline for any reason” is not a rule, it is the absence of one — it makes every other number on this axis conditional on goodwill.
Days before you can ask for money6 days2/2
“For accounts purchased after August 29, 2026, your first reward is available after 6 full trading days.”How long your money is theirs.
Most one withdrawal can pay you2.0% of the account, at worst0.50/2
“Account Size Maximum Reward $25,000 50% of profits up to $1,000 $50,000 50% of profits up to $2,000 $150,000 50% of profits up to $3,000”$2,000 is generous on a $25K account and a joke on a $200K one, so it is measured as a share and at the worst size sold.
Does that cap rise with the accountThey do not say.0/2
we read the page that should answer this and it does not
Profit required before the first requestThey do not say.0/1
we read the page that should answer this and it does not
How much you have to make before you can touch anything.
Fee charged to pay youThey do not say.0/1
we read the page that should answer this and it does not
What they charge you to pay you.
How you may trade
Can you trade the way you actually trade — around the news, over the weekend, at the size and speed you use?
Restriction around the newsThey state there is none.we did not read this stage—
“News Trading Allowed”Mandatory stop-lossThey do not say.no change—
we read the page that should answer this and it does not
Minimum time a trade must be heldThey state there is none.we did not read this stage—
“No Minimum Trade Hold Time”Forced close before the weekendnothing may stay open over the weekendno change—
“All accounts are strictly for day trading only .”LeverageNo such thing in this plan.no change—
“Account Size Profit Target EOD Drawdown Contracts Allowed $25K $1,500 $1,000 3 Minis / 30 Micros $50K $3,000 $2,000 5 Minis / 50 Micros $150K $9,000 $4,500 10 Minis / 100 Micros”Limit on position size3 · 5 · 10we did not read this stage—
“Account Size Profit Target EOD Drawdown Contracts Allowed $25K $1,500 $1,000 3 Minis / 30 Micros $50K $3,000 $2,000 5 Minis / 50 Micros $150K $9,000 $4,500 10 Minis / 100 Micros”No score here, on purpose. The six axes above ask whether the firm can take your money or refuse to pay it. These rules ask something else — whether you can trade your way — and the right weight depends on who is reading: a minimum holding time decides the account for a scalper and is invisible to anyone else, while the weekend rule is the reverse. A single number would be wrong for half of you, and would look decided. The firm’s own sentences are here; the judgement is yours.
How it grows
What makes the account get bigger, how big it can get, and whether the path ends at a real market or at a larger simulation.
What makes the account growThey do not say.—
we read the page that should answer this and it does not
How large it can getThey do not say.—
we read the page that should answer this and it does not
Where the path endsat a real market—
“After the fifth approved reward request, the account may be reviewed for eligibility to transition into the TLT Program or a Live Brokerage Account.”One of these questions is scored and it is not here. “Does the cap rise with the account” sits on the cash axis, next to the cap itself, because it has a right answer: a bigger account that pays the same cheque has handed you a larger number and the same money. The three below are different. A two-million ceiling is the whole point of the product for one reader and irrelevant to someone who wants one clean payout, so the firm’s sentences are here and the weight is yours.
How hard the test is
Not the profit target on the sales page — that target measured against the room you are given to reach it.
How much you must win to survivefor every $1 you are allowed to lose, you must make $1.52.40/8
“50K Dynamic Eval Trailing Drawdown One $50K eval. Pick your reward size & rules when you pass. $47 One-Time Fee Account Size: $50,000 Profit Target: $3,000 Trailing Drawdown: $2,000 Max Position: 5 Mini / 25 Micro Minimum Trading Days: 1”A profit target only means something next to the room you are given to reach it. Ten per cent to make against ten to lose is a coin flip sold as an exam.
Days you have to finish30 days1.05/3
“Traders have 30 calendar days from the date an evaluation is started to successfully pass the evaluation.”A deadline turns a test of skill into a test of whether the market happened to move during your month.
Trading days you must put in1 days2/2
“Minimum of 1 trading day is required to pass.”Cuts both ways: it costs you time, and it also stops an account passing on one lucky afternoon you could never repeat.
A second attempt costsa second attempt is discounted1/2
“This effectively gives traders a completely new start at a slightly reduced rate compared to purchasing a brand-new account.”A free second attempt turns one bad week into a delay instead of another invoice.
Profit target6%—
“50K Dynamic Eval Trailing Drawdown One $50K eval. Pick your reward size & rules when you pass. $47 One-Time Fee Account Size: $50,000 Profit Target: $3,000 Trailing Drawdown: $2,000 Max Position: 5 Mini / 25 Micro Minimum Trading Days: 1”Maximum loss
The loss limit that closes your account. Does it sit still, or does it climb behind you as you win?
What makes the loss limit riseit rises tick by tick, while you tradeno change0.75/3
“The trailing drawdown follows your highest Total Liquidation Value (TLV) throughout the life of the account.”A limit that climbs takes back the cushion you already earned.
Where the limit stops risingit never stops rising0/3
“The trailing drawdown follows your highest Total Liquidation Value (TLV) throughout the life of the account.”The difference between a danger with an end date and one that never ends.
What the limit is measured againstlive equity, open trades includedno change1/2
“If at any point the trailing drawdown level is reached, the account will be considered failed.”Decides whether a trade that dips and recovers can close an account that ended the day green.
What taking a payout does to the limitit tightens, down to a fixed point just above it0/2
“Upon the first approved reward request, the account's maximum loss limit will permanently move to the account's original starting balance plus $100 .”Taking your money out should not leave you closer to losing the account.
Daily limitThey state there is none.we did not read this stage2/2
“Every reward account has no daily loss limit .”A generous percentage measured on live equity is not generous — it is the same number with a trapdoor under it.
Total loss allowed4%no change0.25/1
“Account Size Trailing Drawdown Required Reward Buffer Minimum TLV After Buffer If TLV Falls Below $25,000 $1,000 $1,100 $25,100 Account Failed & Closed $50,000 $2,000 $2,100 $50,100 Account Failed & Closed $150,000 $4,000 $4,100 $150,100 Account Failed & Closed”“Account Size Drawdown Amount 50K $2,000 75K $2,500 100K $3,000 150K $4,000”How much room you have. Worth little, because almost every firm offers the same.
Withdrawing
How much can leave the account, how soon, how often — and whether they can say no.
Withdrawals before the account ends5 in total0.60/3
“Each User Selected Halcyon Dynamic Reward Account is eligible for a maximum of five (5) approved reward requests.”The cap per withdrawal times how many they allow is the real size of the account. One plan here is sold on a $200,000 banner and closes after five withdrawals of $2,100.
What else a payout changesthe profit you must make starts over · the day count starts over0.75/3
“Upon approval of a reward request, all qualifying trading days will reset to zero.”The floor is not the only thing a withdrawal moves, and the rest of it is never on the same page. Position size, the consistency rule and the share you are paid all reset or shift at some firms, and a trader who checked only the drawdown finds out afterwards.
What breaking the consistency rule costsThey do not say.it delays the payout0/3
we read the page that should answer this and it does not
“Traders may select No Consistency or 40% Consistency , where applicable.”Weighted by what it costs, not by existing: reading plan by plan, no consistency rule ever closed an account — they postponed the withdrawal.
Can it refuse without giving a reasonyes — it reserves that right in writing0/3
“The Company may delay, reduce, or deny rewards due to incomplete KYC, rule violations, delayed documentation, or suspected fraud/manipulation.”“We may decline for any reason” is not a rule, it is the absence of one — it makes every other number on this axis conditional on goodwill.
Days before you can ask for money6 days2/2
“Traders must complete six (6) full trading days before submitting their first reward request.”How long your money is theirs.
Most one withdrawal can pay you2.0% of the account, at worst0.50/2
“Account Size Maximum Reward $50,000 $1,250 $75,000 $1,550 $100,000 $2,000 $150,000 $3,000”$2,000 is generous on a $25K account and a joke on a $200K one, so it is measured as a share and at the worst size sold.
Does that cap rise with the accountThey do not say.0/2
we read the page that should answer this and it does not
Profit required before the first requestThey do not say.0/1
we read the page that should answer this and it does not
How much you have to make before you can touch anything.
Fee charged to pay youThey do not say.0/1
we read the page that should answer this and it does not
What they charge you to pay you.
How you may trade
Can you trade the way you actually trade — around the news, over the weekend, at the size and speed you use?
Restriction around the newsThey do not say.we did not read this stage—
we read the page that should answer this and it does not
Mandatory stop-lossThey do not say.no change—
we read the page that should answer this and it does not
Minimum time a trade must be heldThey do not say.we did not read this stage—
we read the page that should answer this and it does not
Forced close before the weekendnothing may stay open over the weekendno change—
“All accounts are strictly for day trading only .”LeverageNo such thing in this plan.no change—
“Account Size Mini Contracts Micro Contracts 50K 5 Mini 25 Micro 75K 8 Mini 40 Micro 100K 10 Mini 50 Micro 150K 15 Mini 75 Micro”Limit on position size5we did not read this stage—
“50K Dynamic Eval Trailing Drawdown One $50K eval. Pick your reward size & rules when you pass. $47 One-Time Fee Account Size: $50,000 Profit Target: $3,000 Trailing Drawdown: $2,000 Max Position: 5 Mini / 25 Micro Minimum Trading Days: 1”No score here, on purpose. The six axes above ask whether the firm can take your money or refuse to pay it. These rules ask something else — whether you can trade your way — and the right weight depends on who is reading: a minimum holding time decides the account for a scalper and is invisible to anyone else, while the weekend rule is the reverse. A single number would be wrong for half of you, and would look decided. The firm’s own sentences are here; the judgement is yours.
How it grows
What makes the account get bigger, how big it can get, and whether the path ends at a real market or at a larger simulation.
What makes the account growThey do not say.—
we read the page that should answer this and it does not
How large it can getThey do not say.—
we read the page that should answer this and it does not
Where the path endsat a real market—
“After the fifth approved reward request, the account may be reviewed for eligibility to transition into the TLT Program or a Live Brokerage Account.”One of these questions is scored and it is not here. “Does the cap rise with the account” sits on the cash axis, next to the cap itself, because it has a right answer: a bigger account that pays the same cheque has handed you a larger number and the same money. The three below are different. A two-million ceiling is the whole point of the product for one reader and irrelevant to someone who wants one clean payout, so the firm’s sentences are here and the weight is yours.
How hard the test is
Not the profit target on the sales page — that target measured against the room you are given to reach it.
How much you must win to survivefor every $1 you are allowed to lose, you must make $1.52.40/8
“50K Dynamic Eval End of Day Drawdown One $50K eval. Pick your reward size & rules when you pass. $49 One-Time Fee Account Size: $50,000 Profit Target: $3,000 End of Day Drawdown: $2,000 Max Position: 5 Mini / 25 Micro Minimum Trading Days: 1”A profit target only means something next to the room you are given to reach it. Ten per cent to make against ten to lose is a coin flip sold as an exam.
Days you have to finish30 days1.05/3
“Traders have 30 calendar days from the date an evaluation is started to successfully pass the evaluation.”A deadline turns a test of skill into a test of whether the market happened to move during your month.
Trading days you must put in1 days2/2
“Minimum of 1 trading day is required to pass.”Cuts both ways: it costs you time, and it also stops an account passing on one lucky afternoon you could never repeat.
A second attempt costsa second attempt is discounted1/2
“This effectively gives traders a completely new start at a slightly reduced rate compared to purchasing a brand-new account.”A free second attempt turns one bad week into a delay instead of another invoice.
Profit target6%—
“50K Dynamic Eval End of Day Drawdown One $50K eval. Pick your reward size & rules when you pass. $49 One-Time Fee Account Size: $50,000 Profit Target: $3,000 End of Day Drawdown: $2,000 Max Position: 5 Mini / 25 Micro Minimum Trading Days: 1”Maximum loss
The loss limit that closes your account. Does it sit still, or does it climb behind you as you win?
What makes the loss limit riseit rises with the day's closing balanceno change1.65/3
“Account minimum balance only updates at the end of your trading session for the day based on realized profits .”A limit that climbs takes back the cushion you already earned.
Where the limit stops risingit never stops rising0/3
“Account minimum balance only updates at the end of your trading session for the day based on realized profits .”The difference between a danger with an end date and one that never ends.
What the limit is measured againstlive equity, open trades includedno change1/2
“Falling below the account minimum at any time will result in account failure.”Decides whether a trade that dips and recovers can close an account that ended the day green.
What taking a payout does to the limitit tightens, down to a fixed point just above it0/2
“Upon the first approved reward request, the account's maximum loss limit will permanently move to the account's original starting balance plus $100 .”Taking your money out should not leave you closer to losing the account.
Daily limitThey state there is none.we did not read this stage2/2
“Every reward account has no daily loss limit .”A generous percentage measured on live equity is not generous — it is the same number with a trapdoor under it.
Total loss allowed4%no change0.25/1
“Account Size End-of-Day Drawdown Required Reward Buffer Minimum TLV After Buffer Consequence if TLV Falls Below $25,000 $1,000 $1,100 $25,100 Account Failed & Closed $50,000 $2,000 $2,100 $50,100 Account Failed & Closed $150,000 $4,500 $4,600 $150,100 Account Failed & Closed”“Account Size Drawdown Amount 50K $2,000 75K $2,500 100K $3,000 150K $4,000”How much room you have. Worth little, because almost every firm offers the same.
Withdrawing
How much can leave the account, how soon, how often — and whether they can say no.
Withdrawals before the account ends5 in total0.60/3
“Each User Selected Halcyon Dynamic Reward Account is eligible for a maximum of five (5) approved reward requests.”The cap per withdrawal times how many they allow is the real size of the account. One plan here is sold on a $200,000 banner and closes after five withdrawals of $2,100.
What else a payout changesthe profit you must make starts over · the day count starts over0.75/3
“Upon approval of a reward request, all qualifying trading days will reset to zero.”The floor is not the only thing a withdrawal moves, and the rest of it is never on the same page. Position size, the consistency rule and the share you are paid all reset or shift at some firms, and a trader who checked only the drawdown finds out afterwards.
What breaking the consistency rule costsThey do not say.it delays the payout0/3
we read the page that should answer this and it does not
“Traders may select No Consistency or 40% Consistency , where applicable.”Weighted by what it costs, not by existing: reading plan by plan, no consistency rule ever closed an account — they postponed the withdrawal.
Can it refuse without giving a reasonyes — it reserves that right in writing0/3
“The Company may delay, reduce, or deny rewards due to incomplete KYC, rule violations, delayed documentation, or suspected fraud/manipulation.”“We may decline for any reason” is not a rule, it is the absence of one — it makes every other number on this axis conditional on goodwill.
Days before you can ask for money6 days2/2
“Traders must complete six (6) full trading days before submitting their first reward request.”How long your money is theirs.
Most one withdrawal can pay you2.0% of the account, at worst0.50/2
“Account Size Maximum Reward $50,000 $1,250 $75,000 $1,550 $100,000 $2,000 $150,000 $3,000”$2,000 is generous on a $25K account and a joke on a $200K one, so it is measured as a share and at the worst size sold.
Does that cap rise with the accountThey do not say.0/2
we read the page that should answer this and it does not
Profit required before the first requestThey do not say.0/1
we read the page that should answer this and it does not
How much you have to make before you can touch anything.
Fee charged to pay youThey do not say.0/1
we read the page that should answer this and it does not
What they charge you to pay you.
How you may trade
Can you trade the way you actually trade — around the news, over the weekend, at the size and speed you use?
Restriction around the newsThey do not say.we did not read this stage—
we read the page that should answer this and it does not
Mandatory stop-lossThey do not say.no change—
we read the page that should answer this and it does not
Minimum time a trade must be heldThey do not say.we did not read this stage—
we read the page that should answer this and it does not
Forced close before the weekendnothing may stay open over the weekendno change—
“All accounts are strictly for day trading only .”LeverageNo such thing in this plan.no change—
“Account Size Mini Contracts Micro Contracts 50K 5 Mini 25 Micro 75K 8 Mini 40 Micro 100K 10 Mini 50 Micro 150K 15 Mini 75 Micro”Limit on position size5we did not read this stage—
“50K Dynamic Eval End of Day Drawdown One $50K eval. Pick your reward size & rules when you pass. $49 One-Time Fee Account Size: $50,000 Profit Target: $3,000 End of Day Drawdown: $2,000 Max Position: 5 Mini / 25 Micro Minimum Trading Days: 1”No score here, on purpose. The six axes above ask whether the firm can take your money or refuse to pay it. These rules ask something else — whether you can trade your way — and the right weight depends on who is reading: a minimum holding time decides the account for a scalper and is invisible to anyone else, while the weekend rule is the reverse. A single number would be wrong for half of you, and would look decided. The firm’s own sentences are here; the judgement is yours.
How it grows
What makes the account get bigger, how big it can get, and whether the path ends at a real market or at a larger simulation.
What makes the account growThey do not say.—
we read the page that should answer this and it does not
How large it can getThey do not say.—
we read the page that should answer this and it does not
Where the path endsat a real market—
“After the fifth approved reward request, the account may be reviewed for eligibility to transition into the TLT Program or a Live Brokerage Account.”One of these questions is scored and it is not here. “Does the cap rise with the account” sits on the cash axis, next to the cap itself, because it has a right answer: a bigger account that pays the same cheque has handed you a larger number and the same money. The three below are different. A two-million ceiling is the whole point of the product for one reader and irrelevant to someone who wants one clean payout, so the firm’s sentences are here and the weight is yours.
The rules in writing
Could you read the rule before paying, and can they change it afterwards?
Where the rule that binds you is publishedin the document its own contract points at4/4
“This Agreement overrides website descriptions, marketing materials, social media statements, or other communications.”If the rule that binds you lives in a help article your contract never mentions, you did not sign it.
Can it change the rules without noticeyes, and it says so0.60/3
“The Company may revise policies and terms under this Agreement and on the Website at any time without notice.”The clause that makes every dated verdict perishable, including ours. Near-universal, so not fatal.
Is the binding document datedyes2/2
“This agreement is in effect as of November 27, 2024.”Without a date you cannot tell whether the rule you read is the rule they apply.
Two official pages that disagree
the payout terms · costs money
“ZERO reward denials”“The Company may delay, reduce, or deny rewards due to incomplete KYC, rule violations, delayed documentation, or suspected fraud/manipulation.”the fees · costs money
“All evaluation accounts are a one-time fee. After passing, your upgrade into a reward account is completely free, where you can start earning rewards.”“If you successfully pass your evaluation, you can move forward by paying the applicable activation fee to activate your Reward Account.”The company behind it
If it goes wrong, which company do you claim against, and under whose laws?
The company you contract withHalcyon Trader Funding LLCno change4/4
“a limited liability company organized and existing under the laws of Michigan”With no named company there is nobody to sue.
Where it is registeredMichigan, United Statesno change2/2
“a limited liability company organized and existing under the laws of Michigan”A claim in the Czech Republic and a claim in St Vincent are not the same claim.
Its registration number803303312no change2/2
“Michigan incorporation ID 803303312”What turns a name into something checkable in a public register.
That company owns the brandyes2/2
“This website is owned and operated by Halcyon Trader Funding LLC.”Signing with a company other than the brand’s owner separates who sold to you from who answers to you.
The people behind it are namedThey do not say.0/2
we read the page that should answer this and it does not
Named people can be looked up. A company on its own cannot always be.
Almost no firm here has a financial regulator, because selling simulated evaluations is not a regulated activity anywhere. Of the 114 firms we scored by hand, 96 sat in the bottom two rungs of backing for this reason. So we do not count it against anyone — it only adds when a firm genuinely has one.
The market
Do your orders reach a market, or is all of it a simulation?
What the funded account issimulated, with a published route to a live stage2/4
“This Agreement applies to any and all accounts provided, managed, or otherwise offered by Halcyon Trader Funding LLC, including but not limited to: Sim Accounts, Live Brokerage Accounts”The question that separates a firm that earns when you lose from one that earns when you last.
The broker or clearer namedIronBeam, Tradeovate, NinjaTrader LLC or Rithmic3/3
“Traders who qualify for a Live Brokerage Account may or may not have to complete an application process through any of our broker partner(s), IronBeam, Tradeovate, NinjaTrader LLC or Rithmic or any additional brokers we chose to partner with.”Almost nobody names one, because almost no account reaches a market. It adds when present.
Conditions to reach a real marketpublished2/2
“A trader may become eligible for transition review upon reaching any of the following milestones: Completion of five (5) approved rewards for a single reward account, or Achievement of the maximum simulated reward cap ($60,000), or Reaching a defined cumulative simulated reward threshold across multiple reward accounts”Promising a route to a real market without publishing the conditions is promising nothing.
We read the rules of every plan it sells and issued a verdict on each one.