Phidias: rules card
Every Phidias rule that decides whether a strategy fits, on one page with sources and a verification date.
Phidias rules at a glance
| Rule | Current terms |
|---|---|
| Automation (EAs, bots) | Verify with firm |
| Copy trading | Permitted — the same strategy may run across multiple accounts, within each account's contract limits |
| Drawdown (evaluation) | End-of-day trailing, no lock — the floor follows the highest closing balance indefinitely and never freezes |
| Drawdown (funded) | Same EOD trailing, no lock |
| Daily loss limit | None, on any account type or phase. The trailing EOD drawdown is the only limit. |
| Consistency | None during evaluation. 30% during the funded simulation (CASH) stage — no single day above 30% of total profit. Drops off entirely at LIVE. |
| Minimum days | Required on evaluation Verify with firm |
| Profit target | Higher than most peers — where Lucid, Take Profit Trader and Alpha ask 6% ($3,000 on 50K), Phidias asks more |
| News | Allowed without restriction — FOMC, NFP, CPI, all of it |
| Overnight and weekend | Permitted on Swing accounts — the only major futures firm to allow weekend holds |
| Account types | 7 — 25K Static, Fundamental 50K/100K, Swing 50K/100K, 10K Drawdown Challenge, Master $1M |
| Pricing | From $21 (10K Drawdown Challenge) to $2,222 (Master $1M); $0 activation fee |
| Payout | Up to 90/10. Phidias LIVE moves to a real broker partner with uncapped daily payouts and no consistency rule; Express-to-Live transitions on the first payout. |
Rows marked “Verify with firm” are where current rule trackers are silent or disagree; the firm's own help center is the only binding source.
What this means for a systematic strategy
Phidias removes two constraints that shape most futures strategies: there is no daily loss limit anywhere in the product, and news trading is unrestricted. If the account can absorb the loss by the close, the day did not happen. For a strategy with rare large drawdown days — or one that trades releases deliberately — that combination is rare.
Two costs balance it. The EOD floor never locks, so it keeps following the highest closing balance for the life of the account rather than freezing once you are clear; accumulated profit never becomes permanent cushion the way it does at Apex or Lucid. And the profit target is higher than at comparable firms, so passing takes more. The weekend-hold permission on Swing accounts has no equivalent elsewhere in futures.
Is Phidias worth it for a systematic strategy?
Yes, if the strategy has rare large drawdown days. No daily loss limit anywhere in the product is the headline, and it is the rule that ends most systematic accounts elsewhere. Unrestricted news trading and weekend holds on Swing accounts have no equivalent among futures firms.
The catch is the floor that never locks. At Apex or Lucid, clearing the lock threshold converts accumulated profit into permanent cushion; at Phidias the floor keeps climbing with every new closing high for the life of the account. A strategy that grinds upward steadily is effectively always near its floor. Pair that with a higher profit target and Phidias suits volatility more than it suits consistency.
Guides for this firm
Every rule in the table is defined in the glossary and explained by mechanism in the rules hub.
FAQ
Does Phidias have a daily loss limit?
No. Phidias enforces only the trailing end-of-day maximum loss limit — there is no separate daily cap in evaluation, CASH or LIVE.
Can I hold trades overnight or over the weekend at Phidias?
Yes, on Swing accounts. Phidias is the only major futures firm permitting weekend holds.
Does the Phidias drawdown floor ever lock?
No. It trails the highest closing balance indefinitely. Unlike firms that freeze the floor at starting balance plus a margin, accumulated profit at Phidias never converts into permanent cushion.
Sources: firm documentation and current rule trackers, cross-checked September 2026. Rules change quarterly; the firm's help center is the binding source.