Funded account answers

Every answer here is written against the rules Phoenix Trader Funding actually enforces, and is revised when those rules change. Where a Phoenix Labs experiment happens to be built around the rule in question, the page says so underneath the answer.

Evaluation rules

• How do you get funded as a trader, and what happens at each stage?You get funded by passing an evaluation, clearing a short review, and then trading a simulated funded account well enough to earn payouts from it. Phoenix Trader Funding …
• What is a consistency rule at a prop firm, and when does it apply?A consistency rule caps how much of your total profit a single trading day is allowed to represent, so one outsized session cannot carry an entire account. It is written …

Account rules

• What does it mean when a prop firm account is breached, and what happens next?A breached account has broken a hard limit of its program, so it can no longer be funded or pay out. The usual cause is the trailing drawdown. On a Classic or Spark evalu…

Copy trading

• Why do two copied accounts show a different profit or loss on the same trade?Two copied accounts can show different results on the same trade because each one places its own order and gets its own fill. A copier repeats the instruction, not the ou…

Payout rules

• How do payouts work on a funded futures account, and when do you get paid?A payout is a withdrawal of profit from a funded simulated account. On a Classic or Spark account at Phoenix Trader Funding you first build a set number of counted days, …

Position sizing

• How many contracts can you trade on a funded futures account, and how does scaling work?Contract limits are set by account type and size, and each one is written two ways: a number of minis or a number of micros, which are alternatives rather than a total. S…