Phidias Propfirm review

10K Drawdown Challenge: what changes when you pass

NOT A FUNDING PLAN. The 10K Drawdown Challenge is a ranked trading competition, not an evaluation that converts to a funded CASH account. There is no profit target, no minimum trading days and no pass or fail conversion: participants are ranked by total profit, updated daily at EOD, with the best account counted if a trader registers several. Rewards replace funding: 1st $12,000, 2nd $3,000, 3rd $2,160, 4th $1,680, 5th $1,320, 6th $1,080, 7th $840, 8th $720, 9th $660, 10th $540, all paid into the Phidias Wallet, totalling $24,000 across the top 10. Tier rewards below the top 10: top 10% get a free 50K OTP account with zero activation fees, top 50% get a 90% off code (excluding OTP), and everyone else gets an 80% off code (excluding OTP). The page claims '100% of participants win'. Top 10 cash lands in the Phidias Wallet, tier accounts in the dashboard and promo codes by email, with tier rewards distributed within 48 hours of the close.

Express to Live: what changes when you pass

Almost nothing changes: the funded CASH account keeps the same $500 static drawdown, the same $1,500 profit target, zero minimum trading days, no consistency rule and no daily loss limit, and news trading stays authorised. What changes is the exit: instead of requesting a withdrawal you hit the profit target a second time on the CASH account and click 'Switch to Live'. A fixed $1,000 bonus payout (subject to the 80/20 split) is auto-credited to the Phidias Wallet, a $500 LIVE credit is applied, and the account converts to a LIVE Dorman Trading account with daily uncapped payouts ($500 min). No withdrawal request, no minimum trading days, no balance threshold. On the one-time-payment path the activation fee is $0; on the monthly-subscription path a one-time lifetime activation fee of $83 is due before the CASH account opens. E2L payouts and bonuses do NOT count toward the 5-payout or $100,000 discretionary LIVE review that governs Fundamental and Premium.

After payout: Static drawdown, never trails and is unchanged by the payout: 'Every E2L account uses a fixed static drawdown (never trails).' The bonus payout is the moment the CASH account is converted to a LIVE account.

Fundamental: what changes when you pass

Four things change when the eval becomes a funded CASH account. (1) The 30% consistency rule switches on: no single day may exceed 30% of total profit, measured over a minimum 4-trading-day period, and it never applies during the evaluation. (2) A trading day only counts toward the payout day-count if it closes with positive PnL of at least $150. (3) The EOD trailing drawdown STOPS trailing once it reaches $50,100 and is frozen there, whereas on the evaluation 'the EOD Drawdown always persists until the end of the evaluation'. (4) Withdrawals become governed by the payout rules: 10 trading days BETWEEN payouts, a $52,600 account threshold, $500 minimum, capped at $2,000 per payment period, paid via RISEWORKS.io. Unchanged: no daily loss limit, news trading authorised at Eval, CASH and LIVE, overnight and over-week holds still NOT permitted, 80/20 split, max 10 E-mini / 100 micro. Activation fee is $0 on this one-time-payment path and $149 on the monthly path. A LIVE account is discretionary only, considered from 5 payouts OR $100,000 cumulative profits.

After payout: 'Your EOD Drawdown stops at $50,100 for a 50K account... Once the EOD Drawdown reaches these limits, it will no longer trail.' Separately, /rules publishes two distinct floors for this size: the $52,600 account minimum threshold ($2,600 above start) and a 'Balance After Withdrawal Cannot Fall Below' figure of $50,100.

A day counts toward payout eligibility at $150+ profit.

Premium: what changes when you pass

The CASH account is funded 1 trading day after the eval pass, and five things change. (1) The 30% consistency rule switches on: no single day may exceed 30% of total profit, minimum 4-trading-day calculation period, and it never applies during the evaluation. (2) A trading day only counts toward the payout day-count if it closes with positive PnL of at least $150. (3) The EOD trailing drawdown STOPS trailing at $50,100 and is frozen there, whereas on the evaluation it trails until the eval ends. (4) Withdrawals are governed by the payout rules: 5 trading days BETWEEN payouts, a $52,600 account threshold, $500 minimum, capped at $2,000 per payment period, via RISEWORKS.io. (5) The profit split becomes progressive and is applied to that cap: 75% on payout 1, 80% on payout 2, 85% on payout 3, 90% on payout 4, 100% from payout 5 onward. New safety net: a Cash Account Reset for $399, once per CASH account, available only within 24h of liquidation. Unchanged: no daily loss limit, news trading authorised, overnight AND over-week holds authorised, max 10 E-mini / 100 micro. Activation fee $0 on this one-time-payment path and $149 on monthly.

After payout: 'Your EOD Drawdown stops at $50,100 for a 50K account... Once the EOD Drawdown reaches these limits, it will no longer trail.' Balance after a withdrawal cannot fall below the $52,600 account minimum threshold ($2,600 above start), and /rules separately prints $50,100 in its 'Balance After Withdrawal Cannot Fall Below' row for this size.

A day counts toward payout eligibility at $150+ profit.