Company Information
- Company Name: Phoenix Trader Funding
- Company Legal Name: Phoenix Trading Funding
- Company Registration No.: Paris B 978 715 332
- Operating Since: November 2023
Challenge Details
Phoenix Trader Funding offers two different challenge accounts: Classic and Ascension.
Classic Challenge
Price:
Rules:
- Max Contracts: 5 (50 micros)
- Profit Goal: $3,000
- Trailing Drawdown (EOD): $2,000
- Daily Drawdown: No
- Consistency Rule: No
- Minimum Winning Days: 3
- Reset Fee: $49
Price:
Rules:
- Max Contracts: 10 (100 micros)
- Profit Goal: $6,000
- Trailing Drawdown (EOD): $3,000
- Daily Drawdown: No
- Consistency Rule: No
- Minimum Winning Days: 3
- Reset Fee: $99
Price:
Rules:
- Max Contracts: 15 (150 micros)
- Profit Goal: $9,000
- Trailing Drawdown (EOD): $4,500
- Daily Drawdown: No
- Consistency Rule: No
- Minimum Winning Days: 3
- Reset Fee: $149
Ascension Challenge
Price:
Rules:
- Max Contracts: From 2 to 3
- Profit Goal: $4,000
- Trailing Drawdown (EOD): No
- Total Drawdown: $2,000
- Daily Drawdown: $625 - $1,125
- Activation Fee: None
- Consistency Rule: 30%
- Minimum Calendar Days: 10
- Reset Coupons: Yes
- Unlimited Practice Accounts: Yes
- Reset Fee: $270
Price:
Rules:
- Max Contracts: From 3 to 5
- Profit Goal: $10,000
- Trailing Drawdown (EOD): No
- Total Drawdown: $4,000
- Daily Drawdown: $1,250 - $2,250
- Activation Fee: None
- Market Data (Level 1): Yes
- Reset Banking: Yes
- Consistency Rule: 30%
- Minimum Calendar Days: 10
- Reset Coupons: Yes
- Unlimited Practice Accounts: Yes
- Reset Fee: $540
Scaling Plan
Phoenix Trader Funding offers a unique scaling plan exclusive to Ascension accounts. This plan enhances the trader's position size and daily drawdown based on your performance. Here's the breakdown:
Modification of Maximum Position Size:
- Start with 2 minis (20 micros).
- Once you hit $2,500 profit, your position increases to 3 minis (30 micros).
- Start with 3 minis (30 micros).
- At $2,000 profit, your position increases to 4 minis (40 micros).
- At $6,000 profit, it increases to 5 minis (50 micros).
Modification of Daily Drawdown:
- Initial drawdown: $625.
- Once profit exceeds $2,500, it increases to $1,125.
- Initial drawdown: $1,250.
- At $2,000 profit, it increases to $1,750.
- At $6,000 profit, it increases to $2,250.
This scaling plan makes Phoenix Trader Funding stand out by allowing traders to adapt their strategies based on profits and risks.
News Trading Rules:
Phoenix Trader Funding enforces strict rules around Tier 1 news events. Traders must not open or hold positions two minutes before and two minutes after major news announcements. Violating this rule can result in disqualification from both challenge and funded accounts.
Other Important Rules
Daily Drawdown Calculation:
- Classic Challenge: No daily drawdown limits.
- Ascension Challenge: The daily drawdown is calculated based on the trailing drawdown and adjusts with your profits.
Countries Banned from Purchasing:
Phoenix Trader Funding does not accept traders from the following countries:
- Afghanistan
- Armenia
- Belarus (Belarus)
- Burma (Myanmar)
- Bosnia and Herzegovina
- Burundi
- North Korea
- Ivory Coast (Côte d'Ivoire)
- Cuba
- Egypt
- Eritrea
- Ethiopia (certain sectors)
- Georgia (specific territories of Abkhazia and South Ossetia)
- Guinea
- Haiti
- Iran
- Iraq (certain entities)
- Lebanon
- Libya
- Mali
- Nicaragua
- Nigeria
- Central African Republic
- Russia
- Somalia
- Sudan
- South Sudan
- Syria
- Tunisia
- Ukraine (specific territories of Crimea and Donetsk/Luhansk)
- Venezuela
- Yemen
- Zimbabwe
Prohibited Trading Strategies:
In the challenges, no trading strategy is prohibited. However, funded accounts may face restrictions if excessive martingale use is detected. This doesn’t mean traders are banned from using martingale, but excessive and deliberate use may delay or nullify payouts.
Payout Methods
Phoenix Trader Funding offers two payout options:
- Payoneer: For secure bank transfers.
- Cryptocurrency: Processed in-house for faster, secure payouts.
Trading Commissions
Trading commission in phoenix trader funding can vary based on the instrument, we advice traders to read the commission rates of their favorite instruments from here - https://phoenixtraderfunding.com/faq/detail/5/66
IP Rule
As of May 26, 2024, using VPS, PVS, or proxy devices to mask identity is strictly prohibited by Phoenix Trader Funding. Accounts using such tools will not be funded or paid out.
Trading Platform
Phoenix Trader Funding offer more than 20 trading platforms and these are as follows :-
- QScalp
- Tslab
- Collective2
- Investor/RT
- Multicharts
- Overcharts
- MedvedTrader
- PhotonTrader
- OptimusFlow
- Quantower
- AgenaTrader
- SierraChart
- VolFix.Net
- MotiveWave
- ScalpTool
- TradeNavigator
- Atas
- InsideEDGETrader
- R| Trader / R | Trader Pro
- Bookmap
- Tiger.Trade