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 |
|---|---|
| Account types (Phidias 2.0, since April 2026) | Express to Live (25K–150K, static drawdown, converts to a LIVE account with Dorman Trading on the first Cash payout), Fundamental (EOD trailing, intraday only), Premium (ex-Swing, EOD trailing, overnight and weekend holding), 10K Drawdown Challenge (competition account). The older Static / Fundamental / Swing / Master lineup is gone (phidiaspropfirm.com/rules, damnpropfirms, propscope, Sep 2026) |
| Automation (EAs, bots) | Fully automated and HFT trading not allowed; semi-automated, manually monitored strategies are allowed (official rules page via damnpropfirms, Sep 2026). One-tick Treasury arbitrage prohibited |
| Copy trading | Permitted across accounts you own, within each account’s contract limits |
| Drawdown (evaluation) | Static, never trailing, on Express to Live; end-of-day trailing on Fundamental and Premium, recalculated once at the session close without counting unrealized intraday profit |
| Drawdown (funded) | Express to Live: static. Fundamental and Premium Cash accounts: EOD trailing that stops at starting balance + $100 on the common 50K and 100K sizes (official rules, rechecked by tradingfunder May 2026); earlier documentation described a floor that never locked |
| Daily loss limit | None on any account type or phase |
| Consistency | None during any evaluation. 30% on funded Cash accounts for Fundamental and Premium only (no single day above 30% of total profit); Express to Live is exempt, and the rule does not apply at LIVE |
| Minimum days | Express to Live: 0. Fundamental: 3 trading days. Premium: 5 qualifying days between Cash payout requests |
| Contract limits | Fundamental and Premium: 10 / 14 / 17 minis (100 / 140 / 170 micros) on 50K / 100K / 150K; 10K Challenge: 25 minis |
| Profit target | Higher than most peers on Fundamental and Premium ($9,000 on a 150K Premium); Express to Live reaches Cash on the first target, then a second target triggers the LIVE switch |
| News | Allowed without restriction on every account family |
| Overnight and weekend | Premium only; Express to Live and Fundamental positions must be closed per their session rules |
| Payout | Express to Live: daily from the first Cash day, 80/20 plus a fixed bonus and live credit on conversion. Fundamental: every 10 days, 80/20. Premium: every 5 days, progressive 75% → 80% → 85% → 90% → 100% from the fifth payout. 90% of requests processed under 30 minutes via the Phidias Wallet (firm claim). Fundamental and Premium LIVE upgrades are discretionary |
| Resets | One Cash-account reset available on Premium ($399 / $499 / $599 by size) |
| Platforms | Rithmic, DeepCharts, Tradovate, NinjaTrader, TradingView (via Tradovate); data via dxFeed or Rithmic |
| Pricing | Monthly with an activation fee on pass, or one-time payment with no activation fee; Fundamental 50K listed at $164/month |
| Entity | Phidias Propfirm LTD, Gibraltar; up to 15 funded accounts and $1.6M allocation per trader |
Source: Puravida Edge rules card for Phidias, verified 1 November 2026 against the firm’s program pages and help center.
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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.
Does Phidias allow automated trading?
Phidias automated trading: Semi-automated only; no full automation or HFT. Copy trading: Allowed across own accounts. Rules verified 1 November 2026.
Phidias drawdown rules
Phidias drawdown on the evaluation: Static (Express to Live); EOD trailing (Fundamental, Premium). On the funded account: Static (E2L); EOD, stops at start + $100 (Cash). Dollar limits per account size are in the table above; rules verified 1 November 2026.
Phidias daily loss limit
Phidias daily loss limit: None on any account. Rules verified 1 November 2026.
Phidias consistency rule
Phidias consistency rule: None eval; 30% on Cash (Fundamental, Premium). Minimum trading days: 0 (E2L) / 3 (Fundamental) / 5 qualifying between payouts (Premium). Rules verified 1 November 2026.
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 Premium 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 Premium 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
- Phidias payout rules: daily, 10-day and 5-day clocks
- Phidias 2.0: Express to Live vs Fundamental vs Premium
- Best prop firm for swing trading
- Prop firms with no daily drawdown
- News trading rules by 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 Premium 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.
Does Phidias allow automated trading?
Fully automated and HFT trading are not allowed; semi-automated, manually monitored strategies are allowed. One-tick Treasury arbitrage is prohibited.
Does Phidias have a consistency rule?
None during any evaluation. 30% on funded Cash accounts for Fundamental and Premium only; Express to Live is exempt, and the rule does not apply at LIVE.
What are the Phidias payout rules?
Express to Live: daily from the first Cash day, 80/20 plus a fixed bonus and live credit on conversion. Fundamental: every 10 days, 80/20. Premium: every 5 days, progressive 75% → 80% → 85% → 90% → 100% from the fifth payout.
How many contracts can I trade at Phidias?
Fundamental and Premium: 10 / 14 / 17 minis (100 / 140 / 170 micros) on 50K / 100K / 150K; the 10K Challenge allows 25 minis.
Sources: firm documentation and current rule trackers, cross-checked September 2026. Rules change quarterly; the firm's help center is the binding source.