Phidias Propfirm
We got this firm wrong twice, in opposite directions, and both corrections are below. It publishes a full legal identity — Phidias Propfirm Limited, Gibraltar registration GICO.123937-76 — and its Express-to-Live drawdown really is static at both stages with no consistency rule, cleared to live capital through Dorman Trading, a genuinely CFTC-registered FCM. What keeps it out is not the rules. It is that Trustpilot carries an active fabricated-reviews warning against it, and that its two published rulebooks contradict each other on numbers that can cost you an account.
First correction: we wrote that it publishes no legal entity anywhere — no company name, no jurisdiction, no registration number. That was false. All three sit on its Contact page: Phidias Propfirm Limited, GICO.123937-76, Suite 4.3.02 Block 4 Eurotowers, Gibraltar. We had looked in the terms and the footer and stopped. Second correction, in the other direction: we then wrote that Trustpilot had NOT suppressed its score and published a 3.9. Also false. Trustpilot serves an active consumer alert of type WarningFabricatedReviews, and withholds the aggregate entirely — the 3.5 it computes across 303 reviews is visible in the page payload but is not published as a rating. Beyond that: the minimum withdrawal is $500 on the rules page and $1,000 in the terms, and the terms state that only the French text governs. The E2L 150K account cap reads as freely cumulative within 5 on one page and limited to 1 on the other, and exceeding the cap forfeits both the payment and the account. A trader who follows the rules page can lose money by doing so. Re-entry condition: reconcile the two rulebooks, and clear the Trustpilot alert.
Not enough published data to simulate this firm’s floor.
Crossed one of the seven hard bars. Open the row and it names which one, with the mechanism spelled out. This is not a low grade — no quantity of virtue elsewhere buys it off, which is why it carries no rank at all.
Disqualified for
Trustpilot: fabricated-reviews warning
Trustpilot withholds the rating and serves a fabricated-reviews warning — a third party concluding the firm faked its own reviews. A low score is not this; every prop firm has angry traders. This is separate from having no legal entity: a firm can publish its registration number and still be caught doing it.
Scorecard
11Trails on daily closes only, then freezes at your starting balance
Clears through a named, registered FCM
A per-request cap well below the account size
Two official channels disagree on a number that matters
Reviews suppressed for manipulation, or the firm is gone
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.
The score is published anyway, because it is the honest picture: a firm can be strong on four axes and still be disqualified on one mechanism. A disqualifier is not a low grade — it is a rule we will not trade under at any price.
Plan by plan
3 of this firm’s challenges were read plan by plan, with a citation behind every answer. See them side by side →
The one plan here worth the name: "a fixed static drawdown (never trails)", zero minimum trading days, no consistency rule, and the only line that reaches live capital automatically rather than at the firm's discretion. The floor is tight — $650 on a 50K, just 1.3% — so it is a scalper's account, not a swing account.
Trails on the daily close and freezes at your starting balance plus $100 — but only once funded. During the evaluation "the EOD Drawdown always persists until the end", with no freeze at all. A day only counts toward your ten if it closes at least $150 up, so the real wait is longer than the number suggests.
Same drawdown mechanics as Fundamental on a faster cycle, with a split that climbs from 75% to 100% by the fifth payout. Reaching live capital is discretionary: the firm "reserves full discretion to approve, defer, or decline a LIVE transition regardless of whether thresholds are met".
Trustpilot
score withheld by Trustpilot — this is the figure it computes but will not show
Trustpilot removed reviews it found to be fake and withheld the rating. This is not a low score — it is a third party concluding the firm wrote its own praise.
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.
1/5
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.
4/5
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.
3/5
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 $30/8
“E2L 25K — Capital $25,000 E2L 25K — Static Drawdown $500 E2L 25K — Profit Target $1,500”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 finishThey do not say.0/3
we read the page that should answer this and it does not
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 inThey state there is none.2/2
“Min. Trading Days None”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 costsyou pay full price again0/2
“No reset can occur as part of 10K Drawdown or Express to Live (E2L) account evaluations.”A free second attempt turns one bad week into a delay instead of another invoice.
Profit target6%—
“E2L 25K — Capital $25,000 E2L 25K — Static Drawdown $500 E2L 25K — Profit Target $1,500”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 does not move at allno change3/3
“Every E2L account uses a fixed static drawdown (never trails)”A limit that climbs takes back the cushion you already earned.
What the limit is measured againstlive equity, open trades includedwe did not read this stage1/2
“Liquidation formula: Liquidation Threshold = Initial Capital − Static Drawdown. The account is liquidated if the balance reaches or falls below this threshold. The static drawdown never trails.”Decides whether a trade that dips and recovers can close an account that ended the day green.
What taking a payout does to the limitNo such thing in this plan.—
“Express to Live (E2L) accounts use a separate automatic bonus system described in the Express to Live Account Rules section — the standard payout rules do not apply to E2L.”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
“E2L accounts have no profit consistency rule and 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 allowed2%we did not read this stage0/1
“E2L 25K — Capital $25,000 E2L 25K — Static Drawdown $500”How much room you have. Worth little, because almost every firm offers the same.
Where the limit stops risingNo such thing in this plan.—
“The static drawdown never trails.”The difference between a danger with an end date and one that never ends.
Withdrawing
How much can leave the account, how soon, how often — and whether they can say no.
Withdrawals before the account endsNo such thing in this plan.—
“Express to Live (E2L) accounts use a separate automatic bonus system described in the Express to Live Account Rules section — the standard payout rules do not apply to E2L.”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 changesNo such thing in this plan.—
“Express to Live (E2L) accounts use a separate automatic bonus system described in the Express to Live Account Rules section — the standard payout rules do not apply to E2L.”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.no change3/3
“The 30% Consistency Rule does not apply to Express to Live accounts (25K, 50K, 100K, 150K).”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 reasonThey state there is none.3/3
“No discretionary review. No $100K profit threshold. One payout, you are live.”“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 money0 days2/2
“has zero minimum trading days”How long your money is theirs.
Most one withdrawal can pay youNo such thing in this plan.—
“Express to Live (E2L) accounts use a separate automatic bonus system described in the Express to Live Account Rules section — the standard payout rules do not apply to E2L.”$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 accountNo such thing in this plan.—
“LIVE Payout Every day, no max limit ($500 min)”Profit required before the first requestNo such thing in this plan.—
“Express to Live (E2L) accounts use a separate automatic bonus system described in the Express to Live Account Rules section — the standard payout rules do not apply to E2L.”How much you have to make before you can touch anything.
Fee charged to pay youThey state there is none.1/1
“One time payment. No monthly subscription, no activation fee.”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.no change—
“Yes, you are authorized to trade during news events on all accounts.”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.no change—
we read the page that should answer this and it does not
Forced close before the weekendnothing may stay open over the weekendno change—
“Express to Live Overnight & over-week positions NOT allowed”“Overnight / Over-Week Not permitted (unless agreed)”LeverageNo such thing in this plan.no change—
“The E2L (Express to Live) 25K account = 2 E-mini lots or 20 micro-lots; The E2L (Express to Live) 50K account = 5 E-mini lots or 50 micro-lots; The E2L (Express to Live) 100K account = 7 E-mini lots or 70 micro-lots; The E2L (Express to Live) 150K account = 9 E-mini lots or 90 micro-lots;”Limit on position size2 · 5 · 7 · 9no change—
“The E2L (Express to Live) 25K account = 2 E-mini lots or 20 micro-lots; The E2L (Express to Live) 50K account = 5 E-mini lots or 50 micro-lots; The E2L (Express to Live) 100K account = 7 E-mini lots or 70 micro-lots; The E2L (Express to Live) 150K account = 9 E-mini lots or 90 micro-lots;”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 growpayouts taken—
“Each validated E2L account adds a cumulative LIVE credit to the trader's LIVE account:”How large it can get$750,000—
“Up to $750,000 of live buying power, working for you at once.”Where the path endsat a real market—
“your very first payout converts the Cash account straight to LIVE with Dorman Trading.”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 $1.60.80/8
“Fundamental 50K — Capital $50,000 Fundamental 50K — EOD Trailing Drawdown $2,500 Fundamental 50K — Profit Target (Eval) $4,000”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 finishThey do not say.0/3
we read the page that should answer this and it does not
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
“Fundamental 50K — Min. Trading Days (Eval) 3”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
“in case of violation of one of the mandatory rules resulting in immediate failure of the evaluation, Users have the possibility to reset their account instead of waiting for the end of the 30-day evaluation.”A free second attempt turns one bad week into a delay instead of another invoice.
Profit target8%—
“Fundamental 50K — Capital $50,000 Fundamental 50K — EOD Trailing Drawdown $2,500 Fundamental 50K — Profit Target (Eval) $4,000”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
“Trailing end of day involves automatically adjusting the daily stop-loss level as your capital moves upward. The daily stop-loss level is adjusted at the end of each trading session”A limit that climbs takes back the cushion you already earned.
Where the limit stops risingsomewhere above your starting balance1.50/3
“On funded accounts: Your EOD Drawdown stops at $50,100 for a 50K account and at $100,100 for a 100K account.”The difference between a danger with an end date and one that never ends.
What the limit is measured againstthe day's closing figureno change2/2
“Your authorized drawdown is calculated at the end of each trading day, and this calculation does not change during the day.”Decides whether a trade that dips and recovers can close an account that ended the day green.
What taking a payout does to the limitThey do not say.0/2
we read the page that should answer this and it does not
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
“Daily Loss Limit None”A generous percentage measured on live equity is not generous — it is the same number with a trapdoor under it.
Total loss allowed5%we did not read this stage0.25/1
“Fundamental 50K — Capital $50,000 Fundamental 50K — EOD Trailing Drawdown $2,500”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 endsThey publish no ceiling.3/3
we read the page that should answer this and it does not
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 changesThey do not say.0/3
we read the page that should answer this and it does not
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.it delays the payout2.10/3
“Consistency (Eval) None”“If your total profit is $1,000 on your account, one of the previous days cannot exceed $300 (30% of $1,000 = $300). But if it does, no worries — you just need to increase your total profit.”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 reasonThey state there is none.3/3
“Zero payouts denied in Phidias history. Ever. Our rules are objective, not subjective. ”“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 money10 days2/2
“any User can only make a withdrawal request after a period of 10 distinct and individual trading days”How long your money is theirs.
Most one withdrawal can pay you1.8% of the account, at worst0.50/2
“Maximum Withdrawal per Period 50K Account Up to $2,000 100K Account Up to $2,500 150K Account Up to $2,750”$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 request5.2%0.70/1
“50K Account $52,600 ($2,600 above start) 100K Account $103,700 ($3,700 above start) 150K Account $154,500 ($4,500 above start)”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.no change—
“Yes, you are authorized to trade during news events on all accounts.”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.no change—
we read the page that should answer this and it does not
Forced close before the weekendnothing may stay open over the weekendno change—
“Fundamental All positions must be CLOSED before end of day”LeverageNo such thing in this plan.no change—
“The FUNDAMENTAL 50K account = 10 mini-lots or 100 micro-lots; The FUNDAMENTAL 100K account = 14 mini-lots or 140 micro-lots; The FUNDAMENTAL 150K account = 17 mini-lots or 170 micro-lots;”Limit on position size10 · 14 · 17no change—
“The FUNDAMENTAL 50K account = 10 mini-lots or 100 micro-lots; The FUNDAMENTAL 100K account = 14 mini-lots or 140 micro-lots; The FUNDAMENTAL 150K account = 17 mini-lots or 170 micro-lots;”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 growpayouts taken · profit — all of them—
“A trader becomes eligible for consideration upon reaching 5 successful payouts or $100,000 in cumulative profits across all accounts.”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—
“LIVE traders execute real capital through Dorman Trading, a registered FCM.”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 $1.60.80/8
“Premium 50K — Capital $50,000 Premium 50K — EOD Trailing Drawdown $2,500 Premium 50K — Profit Target (Eval) $4,000”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 finishThey do not say.0/3
we read the page that should answer this and it does not
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
“Premium 50K — Min. Trading Days (Eval) 1”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
“in case of violation of one of the mandatory rules resulting in immediate failure of the evaluation, Users have the possibility to reset their account instead of waiting for the end of the 30-day evaluation.”A free second attempt turns one bad week into a delay instead of another invoice.
Profit target8%—
“Premium 50K — Capital $50,000 Premium 50K — EOD Trailing Drawdown $2,500 Premium 50K — Profit Target (Eval) $4,000”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
“Trailing end of day involves automatically adjusting the daily stop-loss level as your capital moves upward. The daily stop-loss level is adjusted at the end of each trading session”A limit that climbs takes back the cushion you already earned.
Where the limit stops risingsomewhere above your starting balance1.50/3
“On funded accounts: Your EOD Drawdown stops at $50,100 for a 50K account and at $100,100 for a 100K account.”The difference between a danger with an end date and one that never ends.
What the limit is measured againstthe day's closing figureno change2/2
“Your authorized drawdown is calculated at the end of each trading day, and this calculation does not change during the day.”Decides whether a trade that dips and recovers can close an account that ended the day green.
What taking a payout does to the limitThey do not say.0/2
we read the page that should answer this and it does not
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
“Daily Loss Limit None”A generous percentage measured on live equity is not generous — it is the same number with a trapdoor under it.
Total loss allowed5%we did not read this stage0.25/1
“Premium 50K — Capital $50,000 Premium 50K — EOD Trailing Drawdown $2,500”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 endsThey publish no ceiling.3/3
we read the page that should answer this and it does not
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 share you are paid rises3/3
“Payout 1 75% Trader / 25% Phidias Payout 2 80% Trader / 20% Phidias Payout 3 85% Trader / 15% Phidias Payout 4 90% Trader / 10% Phidias Payout 5 and onwards 100% Trader / 0% Phidias”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.it delays the payout2.10/3
“Consistency (Eval) None”“If your total profit is $1,000 on your account, one of the previous days cannot exceed $300 (30% of $1,000 = $300). But if it does, no worries — you just need to increase your total profit.”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 reasonThey state there is none.3/3
“Zero payouts denied in Phidias history. Ever. Our rules are objective, not subjective.”“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 money5 days2/2
“Trading Days (Premium) 5 days between payouts”How long your money is theirs.
Most one withdrawal can pay you1.8% of the account, at worst0.50/2
“Maximum Withdrawal per Period 50K Account Up to $2,000 100K Account Up to $2,500 150K Account Up to $2,750”$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 request5.2%0.70/1
“50K Account $52,600 ($2,600 above start) 100K Account $103,700 ($3,700 above start) 150K Account $154,500 ($4,500 above start)”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.no change—
“Yes, you are authorized to trade during news events on all accounts.”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.no change—
we read the page that should answer this and it does not
Forced close before the weekendThey state there is none.no change—
“Premium Overnight & over-week positions ALLOWED”LeverageNo such thing in this plan.no change—
“The PREMIUM 50K account = 10 mini-lots or 100 micro-lots; The PREMIUM 100K account = 14 mini-lots or 140 micro-lots; The PREMIUM 150K account = 17 mini-lots or 170 micro-lots;”Limit on position size10 · 14 · 17no change—
“The PREMIUM 50K account = 10 mini-lots or 100 micro-lots; The PREMIUM 100K account = 14 mini-lots or 140 micro-lots; The PREMIUM 150K account = 17 mini-lots or 170 micro-lots;”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 growpayouts taken · profit — all of them—
“A trader becomes eligible for consideration upon reaching 5 successful payouts or $100,000 in cumulative profits across all accounts.”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—
“LIVE traders execute real capital through Dorman Trading, a registered FCM.”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
“These general terms of use (hereinafter the “GTU”) govern the rights and obligations of any person using the services provided by Phidias Propfirm LTD”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
“These GTU may be subject to modifications. The applicable conditions are those in force on the Site at the date of use of the Services.”The clause that makes every dated verdict perishable, including ours. Near-universal, so not fatal.
Is the binding document datedThey do not say.0/2
we read the page that should answer this and it does not
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
“Min. Withdrawal $500”“The minimum withdrawal amount can never be less than $1,000.”the account size or the speed · costs money
“All E2L sizes — including the 150K — count toward this 5-account total and can be cumulated freely within it.”“E2L 150K is limited to 1 account.”whether the account reaches a real market · costs money
“After 3 payouts with one account or $75,000 in cumulative payouts, you'll be upgraded to a live account and enjoy daily payouts.”“Previous thresholds (3 payouts / $75,000) are deprecated and no longer in effect.”the account size or the speed · costs credibility
“Min. Trading Days (Eval) 1 3 1”“has zero minimum trading days”the fees · costs money
“Enter the 10K Challenge · $30”“a registration fee of €19”the account size or the speed · costs money
“Max contracts 25 minis / 250 micros”“The 10K DRAWDOWN account (available only to Users registering for the 10K DRAWDOWN challenge) = 8 E-mini-lots or 8 micro-lots;”The company behind it
If it goes wrong, which company do you claim against, and under whose laws?
The company you contract withPhidias Propfirm Limitedno change4/4
“Registered Name Phidias Propfirm Limited”With no named company there is nobody to sue.
Where it is registeredwe did not read this stageGibraltar1/2
“These GTU and operations resulting therefrom are governed by Gibraltar law.”A claim in the Czech Republic and a claim in St Vincent are not the same claim.
Its registration numberwe did not read this stageGICO.123937-762/2
“Registration Number GICO.123937-76”What turns a name into something checkable in a public register.
That company owns the brandyes2/2
“The website (phidiaspropfirm.com) is owned and operated by Phidias Propfirm LTD, registered in Gibraltar.”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
““CASH Account” : virtual currency account where performance is paid by the Company and allows the User to withdraw profits under certain conditions.”The question that separates a firm that earns when you lose from one that earns when you last.
The broker or clearer namedDorman Trading3/3
“LIVE traders execute real capital through Dorman Trading, a registered FCM.”Almost nobody names one, because almost no account reaches a market. It adds when present.
Conditions to reach a real marketpublished2/2
“For Fundamental and Premium accounts, the live transition is strictly discretionary . A trader becomes eligible for consideration upon reaching 5 successful payouts or $100,000 in cumulative profits across all 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.