ThinkCapital
The drawdown accusation was wrong and is withdrawn: Lightning trails on balance and then, in its own words, "locks permanently at $100,000 (the starting balance) and stops trailing forever", while Dual Step and Nexus are flatly static. Its entity is real and checkable — TFG (Payments) Limited, UK company 10537331, confirmed against Companies House. What disqualifies it now is Trustpilot, which withholds its rating behind a fabricated-reviews warning.
Credit where it is due: its terms contain the most honest sentence any firm in this study wrote about its own regulation — "Any commercial, contractual or branding affiliation between the Provider and any entity within the ThinkMarkets group does not extend ThinkMarkets' regulatory permissions, authorisations, client-money protections, investor compensation arrangements, or any other regulatory benefit to the Customer." Most firms in its position imply the opposite. Against that, its Bolt product page gives two incompatible triggers for the same drawdown lock: the rules FAQ says the floor locks once equity rises 6%, the product spec table says it locks "after first withdrawal". Both are live on its own site.
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
12Trails on daily closes only, then freezes at your starting balance
The group holds a real licence, but you contract offshore
Fixed cycle, no cap that binds in practice
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
4 of this firm’s challenges were read plan by plan, with a citation behind every answer. See them side by side →
"Your account balance must stay above 92% of its initial value throughout the trading period." No trailing at any stage.
8% overall drawdown fixed to the initial balance, 4% daily. Static in both phases.
Its own page: "Max Loss Limit 6% trailing, locked at initial balance once it grows by 6%", and its comparison table reads "Balance based 6% Trailing" — measured on balance, not equity, so open trades do not move it.
Instant funding with a 6% equity-based trail that locks at the initial balance — but the firm publishes two different triggers for that lock on the same page, so you cannot tell from the documentation when your floor stops moving.
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.
3/5
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.
3/5
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.
1/5
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 $1.70.80/8
“Challenge Profit Target Phase 1 Profit Target Phase 2 Profit Target Phase 3
Lightning 10% Not Applicable Not Applicable
Dual Step 8% 5% Not Applicable
Nexus 7% 6% 5%”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.
Trading days you must put in3 dayswe did not read this stagewe did not read this stage2/2
“the Customer has opened at least one demo trade on at least three different calendar days (applicable for the Challenge/Evaluation Phase)”Cuts both ways: it costs you time, and it also stops an account passing on one lucky afternoon you could never repeat.
Profit target10%No such thing in this plan.no change—
“Challenge Profit Target Phase 1 Profit Target Phase 2 Profit Target Phase 3
Lightning 10% Not Applicable Not Applicable
Dual Step 8% 5% Not Applicable
Nexus 7% 6% 5%”Days you have to finish · A second attempt costs
Maximum loss
we did not read enough to sayThe loss limit that closes your account. Does it sit still, or does it climb behind you as you win?
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 limit3%, measured on the day's closing figureno change1/2
“Challenge Daily Loss Limit Max overall Loss Limit
Lightning 3% Balance-based 6% (Trailing)
Dual Step Intraday 4% Equity-based 8% Initial Account Balance
Dual Step Swing 4% Balance-based 8% Initial Account Balance
Nexus 4% Balance-based 8% Initial Account Balance”A generous percentage measured on live equity is not generous — it is the same number with a trapdoor under it.
Total loss allowed6%no change0.50/1
“Challenge Daily Loss Limit Max overall Loss Limit
Lightning 3% Balance-based 6% (Trailing)
Dual Step Intraday 4% Equity-based 8% Initial Account Balance
Dual Step Swing 4% Balance-based 8% Initial Account Balance
Nexus 4% Balance-based 8% Initial Account Balance”How much room you have. Worth little, because almost every firm offers the same.
Where the limit stops risingat your starting balance—
“6% trailing, locked at initial balance once it grows by 6%”The difference between a danger with an end date and one that never ends.
Below 60% read we publish no number at all, because a grade computed from two facts out of six is not a lenient grade — it is a different measurement wearing the same label.
What makes the loss limit rise · What the limit is measured against
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 costsit delays the payoutThey state there is none.3/3
“the Customer has closed at least 0.5% of profit respective of their current account size on at least three different calendar days. For the purposes of these Terms, a trading day shall only be counted as a qualifying day if, at the start of that day, the account balance is equal to or greater than the account’s initial balance.”“Phase 1 Profit Target Daily Loss Limit Max Loss Limit Profit Split Payout Frequency Leverage Minimum Trading Days Maximum Trading Days Daily Loss Type Max Loss Type Inactivity Period Maximum Allocation with Scaling News Trading on Funded Expert Advisors (EAs) Weekend Holding on Funded Consistency Rule
LIGHTNING One Step Challenge Buy for $59 10% 3% 6% 80% (90% with scaling or add-on) 14 days (7 days with add-on) 1:30 3 days Unlimited Balance based 6% Trailing Minimum 1 trade per 30 days $1,000,000 ✗ (4 min window) ✓ Allowed ✓ Allowed None”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 PROVIDER MAY PREVENT THE CUSTOMER FROM ORDERING ANY OTHER SERVICES AND COMPLETELY OR PARTIALLY RESTRICT THE CUSTOMER’S ACCESS TO ALL OR ONLY SOME SERVICES, INCLUDING ACCESS TO THE CLIENT SECTION AND TRADING PLATFORM, WITHOUT ANY PRIOR NOTICE AND WITHOUT ANY COMPENSATION.”“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.
Most one withdrawal can pay youThey do not say.0/2
we read the page that should answer this and it does not
$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
Fee charged to pay you$500/1
“A flat fee of $50 USD will be deducted once per month for payouts requested via Rise to cover processing charges.”What they charge you to pay you.
Days before you can ask for money · Profit required before the first request
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 newsnews trading is banned outrightno change—
“TRADING ON NEWS EVENTS (SCHEDULE 2) IS STRICTLY PROHIBITED DURING THE PERIOD BEGINNING 2 MINUTES BEFORE AND ENDING 2 MINUTES AFTER THE SCHEDULED NEWS RELEASE, UNLESS THE CUSTOMER HAS PURCHASED THE REQUIRED NEWS TRADING ADD-ON OR WHERE NEWS TRADING IS OTHERWISE PERMITTED BY DEFAULT UNDER REFERENCE 6.4. THIS RESTRICTION APPLIES TO BOTH THE EVALUATION PHASE AND THE FUNDED PHASE, EXCEPT FOR THOSE CHALLENGES THAT EXPRESSLY ALLOW NEWS TRADING BY DEFAULT.”Mandatory stop-lossThey state there is none.no change—
“It is important to note that not using a Stop Loss or Trailing Stop Loss is not considered a violation of any rules.”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—
“Challenge Weekend/Holiday Trading: EA Trading News Trading
Lightning Yes Yes, by default on MT5 Only with NT add-on
Dual Step Intraday No Yes, by default on MT5 No
Dual Step Swing Yes Yes, by default on MT5 Yes, by default
Nexus Yes Yes, by default on MT5 Only with NT add-on”“Phase 1 Profit Target Daily Loss Limit Max Loss Limit Profit Split Payout Frequency Leverage Minimum Trading Days Maximum Trading Days Daily Loss Type Max Loss Type Inactivity Period Maximum Allocation with Scaling News Trading on Funded Expert Advisors (EAs) Weekend Holding on Funded Consistency Rule
LIGHTNING One Step Challenge Buy for $59 10% 3% 6% 80% (90% with scaling or add-on) 14 days (7 days with add-on) 1:30 3 days Unlimited Balance based 6% Trailing Minimum 1 trade per 30 days $1,000,000 ✗ (4 min window) ✓ Allowed ✓ Allowed None”Leverage1:30 → 1:1by instrument
no change—
by instrument
“Lightning (Challenge & Funded Accounts) FX : 1:30 Indices : 1:5 Commodities (Gold/Silver) : 1:10 Oil : 1:10 Crypto : 1:1”Limit on position sizeThey state there is none.no change—
“There is no restriction on lot size. Traders can open positions of any size within the leverage limits assigned to them.”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 growprofit—
“Achieve a 10% return in just three months, and we'll boost your account size by 20%.”How large it can get$1,000,000—
“Opportunity to scale up to $1,000,000”Where the path endsat a larger simulation—
“ThinkCapital offers only demo accounts to all users registered for the Free Trial or any ThinkCapital Challenge products.”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 $14.40/8
“Challenge Profit Target Phase 1 Profit Target Phase 2 Profit Target Phase 3
Lightning 10% Not Applicable Not Applicable
Dual Step 8% 5% Not Applicable
Nexus 7% 6% 5%”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.
Trading days you must put in3 daysno changewe did not read this stage2/2
“the Customer has opened at least one demo trade on at least three different calendar days (applicable for the Challenge/Evaluation Phase)”Cuts both ways: it costs you time, and it also stops an account passing on one lucky afternoon you could never repeat.
Profit target8%5%No such thing in this plan.—
“Challenge Profit Target Phase 1 Profit Target Phase 2 Profit Target Phase 3
Lightning 10% Not Applicable Not Applicable
Dual Step 8% 5% Not Applicable
Nexus 7% 6% 5%”Days you have to finish · A second attempt costs
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 changeno change3/3
“Challenge Daily Loss Limit Max overall Loss Limit
Lightning 3% Balance-based 6% (Trailing)
Dual Step Intraday 4% Equity-based 8% Initial Account Balance
Dual Step Swing 4% Balance-based 8% Initial Account Balance
Nexus 4% Balance-based 8% Initial Account Balance”A limit that climbs takes back the cushion you already earned.
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 limit4%, measured on live equity, open trades includedno changeno change0.96/2
“Challenge Daily Loss Limit Max overall Loss Limit
Lightning 3% Balance-based 6% (Trailing)
Dual Step Intraday 4% Equity-based 8% Initial Account Balance
Dual Step Swing 4% Balance-based 8% Initial Account Balance
Nexus 4% Balance-based 8% Initial Account Balance”A generous percentage measured on live equity is not generous — it is the same number with a trapdoor under it.
Total loss allowed8%no changeno change0.80/1
“Challenge Daily Loss Limit Max overall Loss Limit
Lightning 3% Balance-based 6% (Trailing)
Dual Step Intraday 4% Equity-based 8% Initial Account Balance
Dual Step Swing 4% Balance-based 8% Initial Account Balance
Nexus 4% Balance-based 8% Initial Account Balance”How much room you have. Worth little, because almost every firm offers the same.
Where the limit stops risingNo such thing in this plan.—
“Challenge Daily Loss Limit Max overall Loss Limit
Lightning 3% Balance-based 6% (Trailing)
Dual Step Intraday 4% Equity-based 8% Initial Account Balance
Dual Step Swing 4% Balance-based 8% Initial Account Balance
Nexus 4% Balance-based 8% Initial Account Balance”The difference between a danger with an end date and one that never ends.
What the limit is measured against
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 $2,100.
What else a payout changesThey do not say.0/3
we read the page that should answer this and it does not
The floor is not the only thing a withdrawal moves, and the rest of it is never on the same page. Position size, the consistency rule and the share you are paid all reset or shift at some firms, and a trader who checked only the drawdown finds out afterwards.
What breaking the consistency rule costsit delays the payoutno changeThey state there is none.3/3
“the Customer has closed at least 0.5% of profit respective of their current account size on at least three different calendar days. For the purposes of these Terms, a trading day shall only be counted as a qualifying day if, at the start of that day, the account balance is equal to or greater than the account’s initial balance.”“Phase 1 Profit Target Phase 2 Profit Target Daily Loss Limit Max Loss Limit (Challenge) Max Loss Limit (Funded) Profit Split Payout Frequency Leverage Minimum Trading Days Maximum Trading Days Daily Loss Type Max Loss Type Inactivity Period Maximum Allocation with Scaling News Trading on Funded Expert Advisors (EAs) Weekend Holding on Funded Consistency Rule
DUAL STEP INTRADAY Two Step Challenge Buy for 59$ 9% 5% 4% 7% 8% 80% (90% with scaling or add-on) 14 days (7 days with add-on) Dynamic up to 1:100 3 days Unlimited Equity based Fixed to initial starting balance Minimum 1 trade per 30 days $1,000,000 ✗ Not allowed ✓ Allowed ✗ Not allowed None”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 PROVIDER MAY PREVENT THE CUSTOMER FROM ORDERING ANY OTHER SERVICES AND COMPLETELY OR PARTIALLY RESTRICT THE CUSTOMER’S ACCESS TO ALL OR ONLY SOME SERVICES, INCLUDING ACCESS TO THE CLIENT SECTION AND TRADING PLATFORM, WITHOUT ANY PRIOR NOTICE AND WITHOUT ANY COMPENSATION.”“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.
Most one withdrawal can pay youThey do not say.0/2
we read the page that should answer this and it does not
$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
Fee charged to pay you$500/1
“A flat fee of $50 USD will be deducted once per month for payouts requested via Rise to cover processing charges.”What they charge you to pay you.
Days before you can ask for money · Profit required before the first request
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 newsnews trading is banned outrightno changeno change—
“TRADING ON NEWS EVENTS (SCHEDULE 2) IS STRICTLY PROHIBITED DURING THE PERIOD BEGINNING 2 MINUTES BEFORE AND ENDING 2 MINUTES AFTER THE SCHEDULED NEWS RELEASE, UNLESS THE CUSTOMER HAS PURCHASED THE REQUIRED NEWS TRADING ADD-ON OR WHERE NEWS TRADING IS OTHERWISE PERMITTED BY DEFAULT UNDER REFERENCE 6.4. THIS RESTRICTION APPLIES TO BOTH THE EVALUATION PHASE AND THE FUNDED PHASE, EXCEPT FOR THOSE CHALLENGES THAT EXPRESSLY ALLOW NEWS TRADING BY DEFAULT.”Mandatory stop-lossThey state there is none.no changeno change—
“It is important to note that not using a Stop Loss or Trailing Stop Loss is not considered a violation of any rules.”Minimum time a trade must be heldThey do not say.no changeno change—
we read the page that should answer this and it does not
Forced close before the weekendnothing may stay open over the weekendno changeno change—
“Challenge Weekend/Holiday Trading: EA Trading News Trading
Lightning Yes Yes, by default on MT5 Only with NT add-on
Dual Step Intraday No Yes, by default on MT5 No
Dual Step Swing Yes Yes, by default on MT5 Yes, by default
Nexus Yes Yes, by default on MT5 Only with NT add-on”“Dual Step Intraday Perfect fit for intraday traders Format Two-phase evaluation Daily Loss Limit 4% Equity-based News Trading Not allowed (4-min window rule) Weekend Holding & Trading Not allowed”Leverage1:100 → 1:1by instrument
no changeno change—
by instrument
“Forex (e.g., GBPUSD) Lot Range Leverage 0 – 5.00 1:100 5.01 – 10.00 1:50 10.01 – 15.00 1:30 15.01 – 20.00 1:15 20.01+ 1:10 Metals (e.g., XAUUSD) Lot Range Leverage 0 – 0.50 1:30 0.51 – 1.00 1:10 1.01 – 1.25 1:5 1.26 – 1.51 1:3 1.51+ 1:2 Indices (e.g., US30) Lot Range Leverage 0 – 8.00 1:20 8.01 – 16.00 1:10 16.01+ 1:5 I ndices (e.g., SPX) Lot Range Leverage 0 – 3.0 1:20 3.01 – 6.0 1:10 6.01+ 1:5 Oil (e.g., WTI) Lot Range Leverage 0 – 3.00 1:20 3.01 – 6.00 1:10 6.01+ 1:5 Crypto (e.g., BTCUSD) Lot Range Leverage 0 – 0.10 1:2 0.11 – 0.20 1:1 0.21+ 1:1”Limit on position sizeThey state there is none.no changeno change—
“There is no restriction on lot size. Traders can open positions of any size within the leverage limits assigned to them.”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 growprofit—
“Achieve a 10% return in just three months, and we'll boost your account size by 20%.”How large it can get$1,000,000—
“Opportunity to scale up to $1,000,000”Where the path endsat a larger simulation—
“ThinkCapital offers only demo accounts to all users registered for the Free Trial or any ThinkCapital Challenge products.”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 $0.94.40/8
“Challenge Profit Target Phase 1 Profit Target Phase 2 Profit Target Phase 3
Lightning 10% Not Applicable Not Applicable
Dual Step 8% 5% Not Applicable
Nexus 7% 6% 5%”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.
Trading days you must put in3 daysno changeno change2/2
“the Customer has opened at least one demo trade on at least three different calendar days (applicable for the Challenge/Evaluation Phase)”Cuts both ways: it costs you time, and it also stops an account passing on one lucky afternoon you could never repeat.
Profit target7%6%5%—
“Challenge Profit Target Phase 1 Profit Target Phase 2 Profit Target Phase 3
Lightning 10% Not Applicable Not Applicable
Dual Step 8% 5% Not Applicable
Nexus 7% 6% 5%”Days you have to finish · A second attempt costs
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 changeno changeno change3/3
“Challenge Daily Loss Limit Max overall Loss Limit
Lightning 3% Balance-based 6% (Trailing)
Dual Step Intraday 4% Equity-based 8% Initial Account Balance
Dual Step Swing 4% Balance-based 8% Initial Account Balance
Nexus 4% Balance-based 8% Initial Account Balance”A limit that climbs takes back the cushion you already earned.
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 limit4%, measured on the day's closing figureno changeno changeno change1.60/2
“Challenge Daily Loss Limit Max overall Loss Limit
Lightning 3% Balance-based 6% (Trailing)
Dual Step Intraday 4% Equity-based 8% Initial Account Balance
Dual Step Swing 4% Balance-based 8% Initial Account Balance
Nexus 4% Balance-based 8% Initial Account Balance”A generous percentage measured on live equity is not generous — it is the same number with a trapdoor under it.
Total loss allowed8%no changeno changeno change0.80/1
“Challenge Daily Loss Limit Max overall Loss Limit
Lightning 3% Balance-based 6% (Trailing)
Dual Step Intraday 4% Equity-based 8% Initial Account Balance
Dual Step Swing 4% Balance-based 8% Initial Account Balance
Nexus 4% Balance-based 8% Initial Account Balance”How much room you have. Worth little, because almost every firm offers the same.
Where the limit stops risingNo such thing in this plan.—
“Challenge Daily Loss Limit Max overall Loss Limit
Lightning 3% Balance-based 6% (Trailing)
Dual Step Intraday 4% Equity-based 8% Initial Account Balance
Dual Step Swing 4% Balance-based 8% Initial Account Balance
Nexus 4% Balance-based 8% Initial Account Balance”The difference between a danger with an end date and one that never ends.
What the limit is measured against
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 costsit delays the payoutno changeno changeThey state there is none.3/3
“the Customer has closed at least 0.5% of profit respective of their current account size on at least three different calendar days. For the purposes of these Terms, a trading day shall only be counted as a qualifying day if, at the start of that day, the account balance is equal to or greater than the account’s initial balance.”“Phase 1 Profit Target Phase 2 Profit Target Phase 3 Profit Target Daily Loss Limit Max Loss Limit Profit Split Payout Frequency Leverage Minimum Trading Days Maximum Trading Days Daily Loss Type Max Loss Type Inactivity Period Maximum Allocation with Scaling News Trading Expert Advisors (EAs) Weekend Holding and Trading Consistency Rule
NEXUS Three Step Challenge Buy for $39 7% 6% 5% 4% 8% 80% (90% with scaling or add-on) 14 days (7 days with add-on) 1:100 3 days Unlimited Balance based Fixed to initial starting balance Minimum 1 trade per 30 days $1,000,000 ✗ (Add-On available) ✓ Allowed ✓ Allowed None”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 PROVIDER MAY PREVENT THE CUSTOMER FROM ORDERING ANY OTHER SERVICES AND COMPLETELY OR PARTIALLY RESTRICT THE CUSTOMER’S ACCESS TO ALL OR ONLY SOME SERVICES, INCLUDING ACCESS TO THE CLIENT SECTION AND TRADING PLATFORM, WITHOUT ANY PRIOR NOTICE AND WITHOUT ANY COMPENSATION.”“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.
Most one withdrawal can pay youThey do not say.0/2
we read the page that should answer this and it does not
$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
Fee charged to pay you$500/1
“A flat fee of $50 USD will be deducted once per month for payouts requested via Rise to cover processing charges.”What they charge you to pay you.
Days before you can ask for money · Profit required before the first request
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 newsnews trading is banned outrightno changeno changeno change—
“TRADING ON NEWS EVENTS (SCHEDULE 2) IS STRICTLY PROHIBITED DURING THE PERIOD BEGINNING 2 MINUTES BEFORE AND ENDING 2 MINUTES AFTER THE SCHEDULED NEWS RELEASE, UNLESS THE CUSTOMER HAS PURCHASED THE REQUIRED NEWS TRADING ADD-ON OR WHERE NEWS TRADING IS OTHERWISE PERMITTED BY DEFAULT UNDER REFERENCE 6.4. THIS RESTRICTION APPLIES TO BOTH THE EVALUATION PHASE AND THE FUNDED PHASE, EXCEPT FOR THOSE CHALLENGES THAT EXPRESSLY ALLOW NEWS TRADING BY DEFAULT.”Mandatory stop-lossThey state there is none.no changeno changeno change—
“It is important to note that not using a Stop Loss or Trailing Stop Loss is not considered a violation of any rules.”Minimum time a trade must be heldThey do not say.no changeno changeno change—
we read the page that should answer this and it does not
Forced close before the weekendThey state there is none.no changeno changeno change—
“Challenge Weekend/Holiday Trading: EA Trading News Trading
Lightning Yes Yes, by default on MT5 Only with NT add-on
Dual Step Intraday No Yes, by default on MT5 No
Dual Step Swing Yes Yes, by default on MT5 Yes, by default
Nexus Yes Yes, by default on MT5 Only with NT add-on”“Phase 1 Profit Target Phase 2 Profit Target Phase 3 Profit Target Daily Loss Limit Max Loss Limit Profit Split Payout Frequency Leverage Minimum Trading Days Maximum Trading Days Daily Loss Type Max Loss Type Inactivity Period Maximum Allocation with Scaling News Trading Expert Advisors (EAs) Weekend Holding and Trading Consistency Rule
NEXUS Three Step Challenge Buy for $39 7% 6% 5% 4% 8% 80% (90% with scaling or add-on) 14 days (7 days with add-on) 1:100 3 days Unlimited Balance based Fixed to initial starting balance Minimum 1 trade per 30 days $1,000,000 ✗ (Add-On available) ✓ Allowed ✓ Allowed None”Leverage1:100 → 1:1by instrument
no changeno changeno change—
by instrument
“Forex (e.g., GBPUSD) Lot Range Leverage 0 – 5.00 1:100 5.01 – 10.00 1:50 10.01 – 15.00 1:30 15.01 – 20.00 1:15 20.01+ 1:10 Metals (e.g., XAUUSD) Lot Range Leverage 0 – 0.50 1:30 0.51 – 1.00 1:10 1.01 – 1.25 1:5 1.26 – 1.51 1:3 1.51+ 1:2 Indices (e.g., US30) Lot Range Leverage 0 – 8.00 1:20 8.01 – 16.00 1:10 16.01+ 1:5 I ndices (e.g., SPX) Lot Range Leverage 0 – 3.0 1:20 3.01 – 6.0 1:10 6.01+ 1:5 Oil (e.g., WTI) Lot Range Leverage 0 – 3.00 1:20 3.01 – 6.00 1:10 6.01+ 1:5 Crypto (e.g., BTCUSD) Lot Range Leverage 0 – 0.10 1:2 0.11 – 0.20 1:1 0.21+ 1:1”Limit on position sizeThey state there is none.no changeno changeno change—
“There is no restriction on lot size. Traders can open positions of any size within the leverage limits assigned to them.”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 growprofit—
“Achieve a 10% return in just three months, and we'll boost your account size by 20%.”How large it can get$1,000,000—
“Opportunity to scale up to $1,000,000”Where the path endsat a larger simulation—
“ThinkCapital offers only demo accounts to all users registered for the Free Trial or any ThinkCapital Challenge products.”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
we did not read enough to sayNot 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 surviveNo such thing in this plan.—
“The Services further include direct-to-funded simulated trading products under which no Challenge or Evaluation phase is required”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 finishNo such thing in this plan.—
“The Services further include direct-to-funded simulated trading products under which no Challenge or Evaluation phase is required”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 inNo such thing in this plan.—
“The Services further include direct-to-funded simulated trading products under which no Challenge or Evaluation phase is required”Cuts both ways: it costs you time, and it also stops an account passing on one lucky afternoon you could never repeat.
Profit targetNo such thing in this plan.—
“The Services further include direct-to-funded simulated trading products under which no Challenge or Evaluation phase is required”Below 60% read we publish no number at all, because a grade computed from two facts out of six is not a lenient grade — it is a different measurement wearing the same label.
A second attempt costs
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 trade0.75/3
“A fixed $6,000 drawdown buffer (6% of initial balance) that trails your highest equity upward in real time.”A limit that climbs takes back the cushion you already earned.
Where the limit stops risingat your starting balance3/3
“Each Instant Funded Account is subject to a maximum overall loss limit of six percent (6%) of trailing equity, which trails the high-water equity of the Account until the Customer’s first approved Pay-out Request, at which point the maximum overall loss limit shall be permanently fixed at six percent (6%) of the Initial Balance of the Account, and shall not thereafter trail upward regardless of any subsequent equity highs”The difference between a danger with an end date and one that never ends.
What taking a payout does to the limitit loosens, down to the balance the account opened with2/2
“Each Instant Funded Account is subject to a maximum overall loss limit of six percent (6%) of trailing equity, which trails the high-water equity of the Account until the Customer’s first approved Pay-out Request, at which point the maximum overall loss limit shall be permanently fixed at six percent (6%) of the Initial Balance of the Account, and shall not thereafter trail upward regardless of any subsequent equity highs”Taking your money out should not leave you closer to losing the account.
Daily limit3%, measured on the day's closing figure1/2
“The daily loss limit of three percent (3%), measured against balance, shall continue to apply on its standard basis before and after the first approved Pay-out Request and is unaffected by the Initial Balance Drawdown Lock.”A generous percentage measured on live equity is not generous — it is the same number with a trapdoor under it.
Total loss allowed6%0.50/1
“Each Instant Funded Account is subject to a maximum overall loss limit of six percent (6%) of trailing equity, which trails the high-water equity of the Account until the Customer’s first approved Pay-out Request, at which point the maximum overall loss limit shall be permanently fixed at six percent (6%) of the Initial Balance of the Account, and shall not thereafter trail upward regardless of any subsequent equity highs”How much room you have. Worth little, because almost every firm offers the same.
What the limit is measured against
Withdrawing
How much can leave the account, how soon, how often — and whether they can say no.
Withdrawals before the account endsThey state there is none.3/3
“No monthly aggregate cap, ceiling, or limit shall apply to the total Reward payable in respect of an Instant Funded Account”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
“For Instant Funded Accounts, the count of Profitable Days resets to zero following each approved Pay-out Request.”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 payout2.10/3
“at least five (5) Profitable Days have been accumulated since the Customer’s first simulated live trade on the Account; (ii) cumulative closed net profit on the Account is equal to or greater than six percent (6%) of the Initial Balance; (iii) at least fourteen (14) calendar days have elapsed since the Customer’s first simulated live trade on the Account”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 PROVIDER MAY PREVENT THE CUSTOMER FROM ORDERING ANY OTHER SERVICES AND COMPLETELY OR PARTIALLY RESTRICT THE CUSTOMER’S ACCESS TO ALL OR ONLY SOME SERVICES, INCLUDING ACCESS TO THE CLIENT SECTION AND TRADING PLATFORM, WITHOUT ANY PRIOR NOTICE AND WITHOUT ANY COMPENSATION.”“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 money14 days2/2
“at least five (5) Profitable Days have been accumulated since the Customer’s first simulated live trade on the Account; (ii) cumulative closed net profit on the Account is equal to or greater than six percent (6%) of the Initial Balance; (iii) at least fourteen (14) calendar days have elapsed since the Customer’s first simulated live trade on the Account”How long your money is theirs.
Does that cap rise with the accountNo such thing in this plan.—
“No monthly aggregate cap, ceiling, or limit shall apply to the total Reward payable in respect of an Instant Funded Account”Profit required before the first request6%0.70/1
“at least five (5) Profitable Days have been accumulated since the Customer’s first simulated live trade on the Account; (ii) cumulative closed net profit on the Account is equal to or greater than six percent (6%) of the Initial Balance; (iii) at least fourteen (14) calendar days have elapsed since the Customer’s first simulated live trade on the Account”How much you have to make before you can touch anything.
Fee charged to pay you$500/1
“Note : A flat fee of $50 USD will be deducted once per month for payouts requested via Rise to cover processing charges.”What they charge you to pay you.
Most one withdrawal can 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 newsnews trading is banned outright—
“For Instant Funded Accounts, the restricted news-trading window is five (5) minutes before and five (5) minutes after the scheduled news release on the instruments listed in Schedule 2.”Mandatory stop-lossThey state there is none.—
“It is important to note that not using a Stop Loss or Trailing Stop Loss is not considered a violation of any rules.”Minimum time a trade must be heldThey do not say.—
we read the page that should answer this and it does not
Limit on position sizeThey state there is none.—
“There is no restriction on lot size. Traders can open positions of any size within the leverage limits assigned to them.”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 growprofit · time elapsed · payouts taken — all of them—
“A Customer holding an Instant Funded Account becomes eligible for a one-time twenty percent (20%) increase in the Account’s Capital where, on the same Account, all of the following are satisfied: (i) cumulative closed profit since Account opening is equal to or greater than ten percent (10%) of the Initial Balance; (ii) at least two (2) months have elapsed since the Customer’s first simulated live trade on that Account; and (iii) the Customer has received at least three (3) successful Pay-out Requests in respect of that Account.”How large it can get1.20× where you started, once—
“A Customer holding an Instant Funded Account becomes eligible for a one-time twenty percent (20%) increase in the Account’s Capital where, on the same Account, all of the following are satisfied: (i) cumulative closed profit since Account opening is equal to or greater than ten percent (10%) of the Initial Balance; (ii) at least two (2) months have elapsed since the Customer’s first simulated live trade on that Account; and (iii) the Customer has received at least three (3) successful Pay-out Requests in respect of that Account.”Where the path endsat a larger simulation—
“ThinkCapital offers only demo accounts to all users registered for the Free Trial or any ThinkCapital Challenge products.”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 a help-centre article the contract never mentions1.20/4
“The mechanics for identifying scheduled releases, instrument scope, and enforcement are as published in our Frequently Asked Questions, which are incorporated herein.”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 noticeThey state there is none.3/3
“The Provider will notify the Customer of the change in the T&Cs at least 7 days before the change in the T&Cs is effective, via the Client Section or by e-mail.”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 account size or the speed · costs money
“ThinkTrader Platform – Dual Step, Nexus & Bolt (Evaluation & Funded)”“Dynamic Leverage on ThinkTrader (TT) exclusively for Dual Step and Nexus accounts — applicable to both the Evaluation and Funded phases.”the account size or the speed · costs money
“Phase 1 Profit Target Phase 2 Profit Target Phase 3 Profit Target Daily Loss Limit Max Loss Limit Profit Split Payout Frequency Leverage Minimum Trading Days Maximum Trading Days Daily Loss Type Max Loss Type Inactivity Period Maximum Allocation with Scaling News Trading Expert Advisors (EAs) Weekend Holding and Trading Consistency Rule
NEXUS Three Step Challenge Buy for $39 7% 6% 5% 4% 8% 80% (90% with scaling or add-on) 14 days (7 days with add-on) 1:100 3 days Unlimited Balance based Fixed to initial starting balance Minimum 1 trade per 30 days $1,000,000 ✗ (Add-On available) ✓ Allowed ✓ Allowed None”“Dynamic Leverage offers a progressive, risk-conscious approach : as your position size grows, your leverage adjusts in tiers — giving you the flexibility to scale while maintaining strong risk safeguards.”who stands behind the account · costs money
“Powered by ThinkMarkets: A multi-regulated, globally trusted broker.”“Any commercial, contractual or branding affiliation between the Provider and any entity within the ThinkMarkets group does not extend ThinkMarkets’ regulatory permissions, authorisations, client-money protections, investor compensation arrangements, or any other regulatory benefit to the Customer.”the drawdown rule · costs money
“Once your equity reaches $106,000, the breach level locks permanently at $100,000 (the starting balance) and stops trailing forever.”“Each Instant Funded Account is subject to a maximum overall loss limit of six percent (6%) of trailing equity, which trails the high-water equity of the Account until the Customer’s first approved Pay-out Request, at which point the maximum overall loss limit shall be permanently fixed at six percent (6%) of the Initial Balance of the Account, and shall not thereafter trail upward regardless of any subsequent equity highs”the profit target · costs money
“Achieve 9% profit target while managing risk.”“Challenge Profit Target Phase 1 Profit Target Phase 2 Profit Target Phase 3
Lightning 10% Not Applicable Not Applicable
Dual Step 8% 5% Not Applicable
Nexus 7% 6% 5%”the consistency rule · costs money
“Phase 1 Profit Target Daily Loss Limit Max Loss Limit Profit Split Payout Frequency Leverage Minimum Trading Days Maximum Trading Days Daily Loss Type Max Loss Type Inactivity Period Maximum Allocation with Scaling News Trading on Funded Expert Advisors (EAs) Weekend Holding on Funded Consistency Rule
LIGHTNING One Step Challenge Buy for $59 10% 3% 6% 80% (90% with scaling or add-on) 14 days (7 days with add-on) 1:30 3 days Unlimited Balance based 6% Trailing Minimum 1 trade per 30 days $1,000,000 ✗ (4 min window) ✓ Allowed ✓ Allowed None”“the Customer has closed at least 0.5% of profit respective of their current account size on at least three different calendar days. For the purposes of these Terms, a trading day shall only be counted as a qualifying day if, at the start of that day, the account balance is equal to or greater than the account’s initial balance.”the drawdown rule · costs money
“Phase 1 Profit Target Phase 2 Profit Target Daily Loss Limit Max Loss Limit (Challenge) Max Loss Limit (Funded) Profit Split Payout Frequency Leverage Minimum Trading Days Maximum Trading Days Daily Loss Type Max Loss Type Inactivity Period Maximum Allocation with Scaling News Trading on Funded Expert Advisors (EAs) Weekend Holding on Funded Consistency Rule
DUAL STEP INTRADAY Two Step Challenge Buy for 59$ 9% 5% 4% 7% 8% 80% (90% with scaling or add-on) 14 days (7 days with add-on) Dynamic up to 1:100 3 days Unlimited Equity based Fixed to initial starting balance Minimum 1 trade per 30 days $1,000,000 ✗ Not allowed ✓ Allowed ✗ Not allowed None”“Challenge Daily Loss Limit Max overall Loss Limit
Lightning 3% Balance-based 6% (Trailing)
Dual Step Intraday 4% Equity-based 8% Initial Account Balance
Dual Step Swing 4% Balance-based 8% Initial Account Balance
Nexus 4% Balance-based 8% Initial Account Balance”The company behind it
If it goes wrong, which company do you claim against, and under whose laws?
The company you contract withTFG (Payments) LimitedThey do not say.0/4
“The Customer acknowledges that the Customer’s contract for the Services is solely with TFG (Payments) Limited and that no other ThinkMarkets-group entity is a party to, or guarantor of, that contract.”we read the page that should answer this and it does not
With no named company there is nobody to sue.
Where it is registeredEngland and WalesThey do not say.0/2
“Any legal relations established by these T&Cs or related to them, as well as any related non-contractual legal relations, shall be governed by the laws of England and Wales.”we read the page that should answer this and it does not
A claim in the Czech Republic and a claim in St Vincent are not the same claim.
That company owns the brandyes2/2
“govern rights and obligations in connection with the use of services provided by TFG (PAYMENTS) LIMITED.”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.
Its registration number
The market
Do your orders reach a market, or is all of it a simulation?
What the funded account issimulated, with no route to real capital0/4
“Financial market information is used in the simulated trading; however, you acknowledge that any trading that you perform through the Services is not real.”The question that separates a firm that earns when you lose from one that earns when you last.
Conditions to reach a real marketNo such thing in this plan.—
“Financial market information is used in the simulated trading; however, you acknowledge that any trading that you perform through the Services is not real.”Promising a route to a real market without publishing the conditions is promising nothing.
Almost none names a broker or a clearing house either, and that follows from the account being a simulation rather than being a second, separate failing. Charging for both would count one fact twice.
We read the rules of every plan it sells and issued a verdict on each one.