In this article, I will elaborate on Phidias Prop Firm, a proprietary trading firm that provides its traders with capital to trade on futures, indices, commodities, and cryptocurrency.
The firm aims to develop traders and assist them with skill development while splitting profits on a large scale. I will elaborate on its profit-sharing structure, account types, evaluation processes, and how the firm helps its traders become consistently successful.
What Is Phidias Prop Firm?
Phidias Prop Firm assists traders by funding them with capital to trade on several financial instruments like, but not limited to, commodities, contracts on indices, and cryptocurrency futures.
There is an evaluation process during which traders are assessed on their ability to trade and manage risks. Successful candidates receive a funded account which enables them to trade with the firm’s capital and partake in the profits.
Overview Phidias Prop Firm
| Feature | Details |
|---|---|
| Firm Type | Proprietary Trading Firm |
| Trading Instruments | Futures, Commodities, Indices, Cryptocurrencies |
| Evaluation Process | Profit target within drawdown limits; account types like OTP (One-Time Payment) or Swing Accounts |
| Account Funding | Funded accounts given upon passing evaluation |
| Profit Sharing | 80% to trader / 20% to firm |
| Payout Schedule | Bi-weekly, after 10 trading days |
| Risk Management | End-of-Day drawdown limits, prohibited strategies, disciplined trading rules |
| Support | 24/7 trader support and community platforms like Discord |
| Website | phidiaspropfirm.com |
How Phidias Prop Firm Works
Phidias works using a rather simple model. Traders take part in an evaluation contest to show their ability to trade and manage risk. When finished and done successfully, they are granted a funded trading account.
The model looks to find talented traders willing to put in the work and gives them a clear path to funded account status. The evaluation is a funded trading skill test and a hallmark of a training ground.
Key Features of Phidias Prop Firm
Evaluation Process
Traders with Phidias have to complete ‘one step’ evaluations as they complete specific tasks to reach a profit target and follow risk management instinct. This approach is straightforward compared to multi-step evaluations other firms provide.
Account Funding Options
Traders have a choice of account balances of $10,000, $50,000, $100,000 and up to $1 million. This selection serves traders with a variety of trading techniques and risk appetites.
Profit Sharing
Phidias has a profit sharing model where traders get to keep a whopping 95% of the profit made. The Profit sharing is the highest in the industry with Phidias keeping only a tiny portion to cover operational costs to remain sustainable.
Trading Platforms
Like other firms, Phidias allows trading using Rithmic platforms which have proven to be fast and reliable when trading futures. This is good enough, but the firm does not support other well known platforms such as NinjaTrader.
Does Phidias provide support to traders?
Phidias Prop Firm provides trader assistance with a focus on community interaction. It provides 24/7 customer service support, allowing users to streamline solutions to their inquiries, rules, and assistance.
Furthermore, Phidias promotes community building on Discord, allowing members to strategize with associates and market discussions and, more importantly, learn from each other
This community enhances trader motivation, proficiency, and challenge resistance. By disentangling support from networking, Phidias helps traders build confidence for more complex and efficient trades.
Is Phidias Prop Firm suitable for beginner traders?
Phidias Prop Firm seems to cater to traders who have some experience in futures, commodities, indices, or other financial markets.
Even though the firm allocates funds and arranges programs, the rules and regulations concerning trading, drawdown limits, and risk management may be daunting to some.
That said, the evaluation process has its benefits as it helps practitioners improve their trading skills, and less seasoned traders are afforded the opportunity to exercise trading mastery in a controlled environment.
New challenges in strategy implementation and other decision-making scenarios allow participants to incrementally build the skills and assurance necessary to manage a funded account with Phidias.
Phidias Prop Firm – Pros and Cons
| Pros | Cons |
|---|---|
| Funded Trading Accounts – Traders can trade with firm capital, reducing personal financial risk while keeping most profits. | Not Ideal for Beginners – Traders with no prior experience may find the rules and risk management requirements challenging. |
| High Profit Share – Traders retain 80% of net profits, which is competitive in the prop trading industry. | Evaluation Required – To access funded accounts, traders must pass a profit target evaluation within drawdown limits. |
| Flexible Account Options – OTP, Swing, and Fundamental accounts cater to different trading styles and capital levels. | Limited Asset Variety – Primarily focuses on futures, commodities, indices, and select cryptocurrencies, which may not suit all traders. |
| Support and Community – Offers 24/7 support and a Discord community for strategy sharing and networking. | Strict Risk Rules – End-of-Day drawdown limits and prohibited strategies require discipline, which may restrict some trading approaches. |
| Transparent Policies – Clear rules for profit-sharing, withdrawals, and trading practices build trust and reliability. | Withdrawal Schedule – Payouts are processed bi-weekly after 10 trading days, which may feel restrictive to some traders. |
| Structured Evaluation Process – Helps traders develop skills and demonstrate consistent profitability before accessing firm capital. | No Unlimited Capital – Growth is tied to evaluation and account type; extremely high-volume traders may need to scale gradually. |
Alternatives Of Phidias Prop Firm
TopStepTrader
Futures traders have access to one of the most well-known prop trading companies, TopStepTrader. Like Phidias, it has an evaluation period in which traders attempt to meet assigned profit goals while following strict risk parameters.
Funded traders keep around 80% of the profits. These traders receive education, various trading aids, and access to a friendly online forum.
Also, TopStepTrader’s wired trading philosophy, flexible accounts, and transparent parameters ease the process of meeting firm goals, which makes the company an alternative for anyone looking for a respectable prop trading firm.
The5ers
The5ers is oriented towards forex and crypto trading and offers trading accounts fully funded by the firm to qualifying traders. Unlike some firms, funded accounts, and lifetime lifetime accounts, the5ers has zero recurring fees.
Also, traders provide lifetime funded accounts without recurring fees and focus on lower difficulty trading strategies. The5ers traders benefit from 24/7 responsive support as well as their personal dashboards and performance analysis.
The firm’s solutions are low-risk and continuous growth oriented, making it a preferarea alternative to Phidias. The firm’s flexible solutions and traders success focus ensures Phidias traders are well funded for their trading ambitions.
OneUp Trader
A straightforward and clear evaluation process for futures trading is offered by OneUp Trader. Funded accounts are provided to traders who achieve profit objectives and adhere to drawdown limits. Flexible trading styles such as day trading and swing trading are permitted.
OneUp Trader fast verification and protection of earned funds, timely fast payouts, and an active online community. The evaluation process is low-cost and the rules clear, making OneUp an alternative for traders who seek capital for their growth.
Maverick Trading
Maverick Trading is a U.S. proprietary trading firm funded by the firm for options and forex trading. Detailed training and evaluation periods are prerequisite to receiving a funded account. Maverick defines success boundaries and provides firm Support, Mentorship, and Risk Guidelines to aid traders in development.
After all, profit splits are almost frivolous with the firm, ranging from 70 to 80% with regular payouts. Maverick integrates options trading offers with strong community, educational support, and systematic framework to provide value to traders of all levels interested in extending their trading abilities outside of futures and forex.
Conclsuion
In conclusion, Phidias Prop Firm offers traders an exceptionally professional and compassionate setting with funded accounts, reasonable terms, and an appealing 80% profit split. Its evaluation system and rigorous risk control encourages Pavlovian trading.
The discernable and seamless system through which traders can access community support to grow capital efficiently with little hassle, makes Phidias Prop Firm a reliable option in prop trading. Although it poses a myriad of challenges to beginners, the firm specializes in offering traders discipline and controlled trading.
FAQ
Complete the evaluation by reaching profit targets within drawdown limits to access a funded account.
Traders retain 80% of profits, and the firm takes 20%.
Yes, 24/7 support and a Discord community for trading discussions and guidance.