💰 $140/Month Per Exchange. That’s What Professional Market Data Costs.
Most traders don’t discover this hidden fee until they get funded. At Phidias, we cover market data for you.
Which prop firms include free market data? Many prop firms may charge additional fees for market data access, sometimes up to $140/month per exchange once you reach a live funded account. At Phidias PropFirm, we provide professional-grade Rithmic market data for free on all accounts, including CME, CBOT, NYMEX, and COMEX exchanges. Even when you progress to trading real capital on a LIVE funded account, we absorb the professional data feed cost so you don’t have monthly overhead eating into your profits. Level 2 market depth is available as an optional add-on starting at €11/month per exchange.
Market data is the lifeblood of futures trading. Without real-time price information flowing into your charts, you’re trading completely blind.
The problem? Professional market data isn’t free. Exchanges charge for it. And many prop firms pass that cost directly to you.
Let’s break down exactly what you get at Phidias and why it matters for your trading success.
Which Prop Firms Include Free Market Data?
At Phidias, Market Data Is Always Included
We made a simple decision when building Phidias PropFirm: traders shouldn’t pay extra for basic market data.
Every account at Phidias comes with free Level 1 (Top of Book) data for all four CME Group exchanges:
- CME (stock indices like ES, NQ, currencies like 6E)
- CBOT (Treasury bonds, agricultural products)
- NYMEX (energy products like crude oil CL, natural gas NG)
- COMEX (metals like gold GC, silver SI)
This applies to evaluation accounts. It applies to CASH funded accounts. And critically, it still applies when you reach LIVE funded account status with real trading capital.
That last point is the game-changer. More on that in a moment.
Why We Provide Free Data: Our Philosophy
Our business model is simple: we succeed when our traders succeed.
Charging monthly data fees creates pressure. Pressure leads to bad decisions. Bad decisions lead to blown accounts.
By removing that overhead cost, we give you the mental space to focus on what actually matters: executing your trading strategy.
When you’re not worried about covering $100+ in monthly fees before you even make a profit, you trade better. The data proves it.
Why Other Prop Firms May Charge for Data
Market data licensing costs money. The CME Group charges fees for real-time price feeds.
Some prop firms decide to pass that cost directly to traders. Others bundle it into higher evaluation fees. A few, like us, absorb it entirely.
We can’t speak for other firms’ business decisions. But we can tell you that when a funded trader has to pay $140/month per exchange just to see prices, that’s a significant barrier to profitability.
The Real Savings With Free Data
Let’s do some quick math on professional data feed costs:
| Exchange | Professional Fee | At Phidias |
|---|---|---|
| CME | $140/month | FREE |
| CBOT | $140/month | FREE |
| NYMEX | $140/month | FREE |
| COMEX | $140/month | FREE |
| Total (All 4) | $560/month | $0 |
That’s $6,720 per year you’d save if you trade all four exchanges.
We’ll dive deeper into where these costs come from and when they typically apply later in this article. But the takeaway is clear: at Phidias, you keep more of what you earn.
📚 Just starting out? See why we’re rated #1: Best Prop Firms for Beginners 2025: Complete Guide
Ready to Trade With Free Professional Data?
Start your evaluation with institutional-grade market data included. No hidden fees.
What Is Futures Market Data and Why Does It Matter?
Market data is the real-time stream of price information coming directly from the exchanges where futures contracts are traded.
Every time someone places a bid, makes an offer, or executes a trade on the CME, that information gets broadcast. Your trading platform receives this data through a feed provider and displays it as charts, price quotes, and order books.
Without a data feed, your platform shows nothing. No candles. No prices. No ability to place trades.
Where Your Market Data Comes From
For futures trading, most data originates from the CME Group. This includes four major exchanges:
CME (Chicago Mercantile Exchange) handles equity index futures like ES (S&P 500), NQ (Nasdaq), and currency futures like 6E (Euro).
CBOT (Chicago Board of Trade) covers Treasury bond futures and agricultural products like wheat, corn, and soybeans.
NYMEX (New York Mercantile Exchange) specializes in energy futures including crude oil (CL) and natural gas (NG).
COMEX focuses on metals like gold (GC), silver (SI), and copper (HG).
At Phidias, we use Rithmic as our data feed provider. Rithmic delivers institutional-grade, low-latency market data directly from these exchanges to your trading platform.
📚 Not sure which platform to use? Check out: Choosing The Best Futures Trading Platform [2025 Guide]
Level 1 vs Level 2 Market Data Explained
Market data comes in two main tiers, and understanding the difference helps you decide what you actually need.
📊
Level 1 (Top of Book)
What you see:
- Best bid price and size
- Best ask price and size
- Last traded price
- Volume and OHLC data
Best for: Chart-based trading, technical analysis, most retail strategies
📈
Level 2 (Market Depth)
What you see:
- Full order book (5-10+ levels)
- All bids and asks at each price
- Volume at every price level
- Order flow information
Best for: DOM trading, scalping, order flow analysis
The honest truth: Level 1 data is enough for the vast majority of futures traders.
If you trade using charts, price action, or technical indicators, Level 1 gives you everything you need. The best bid and ask prices populate your charts correctly. You can see where the market is trading and execute your strategy.
Level 2 (Market Depth) becomes valuable if you trade directly from the DOM (Depth of Market) ladder, use order flow strategies, or need to see the full order book for scalping.
Not sure which you need? Use our quiz below to find out.
The Hidden Cost of Market Data in Prop Trading
Here’s something most prop firm marketing doesn’t mention upfront: market data has different pricing tiers.
Non-Professional vs Professional Data Fees
The CME Group classifies data subscribers into two categories:
Non-Professional: Individual retail traders not registered with any exchange or regulatory body. Data fees are heavily discounted (around $3-6 per exchange per month).
Professional: Traders registered with exchanges, working for financial institutions, or trading firm capital. Fees jump to $140 per exchange per month.
During evaluation and simulated funded accounts (CASH accounts at Phidias), traders typically qualify as non-professional. The data is cheap or included.
The cost shock comes when traders progress to LIVE funded accounts with real capital.
When Professional Data Fees Apply
At some prop firms, when you reach a live trading account with real money, you might be classified as trading professional capital.
This triggers professional market data rates.
Suddenly, that “free” data now can costs $140/month for CME alone. Add CBOT, NYMEX, and COMEX, and you’re looking at up to $560/month in fixed costs before you make a single profitable trade.
This creates enormous psychological pressure. You might need to make $560 just to break even on data fees. That pressure leads to overtrading, poor risk management, and blown accounts.
📚 Understanding risk is crucial. Learn about: Trailing Drawdown in Prop Firm: The Ultimate 2025 Guide
At Phidias: We Bear This Cost For You
This is where we’re different.
Even on LIVE funded accounts with real trading capital, we provide the professional data feed at no cost to you.
We absorb the monthly fee because we want you focused on trading, not covering overhead.
Your only fixed cost at Phidias is zero. Every dollar you make is profit, not debt repayment to a data vendor.
Market Data on Phidias Accounts: Complete Breakdown
Evaluation and CASH Accounts (Sim Funded)
When you start an evaluation at Phidias, here’s what you get immediately:
Free Level 1 data for all CME Group exchanges (CME, CBOT, NYMEX, COMEX).
This includes Rithmic data feed access with low-latency price delivery to your trading platform.
The same applies once you pass evaluation and receive a CASH funded account. No additional data subscription required. No monthly fees eating into your profits.
You can trade any of the 70+ futures instruments available, from ES and NQ index futures to CL crude oil, GC gold, 6E Euro currency, and more.
LIVE Funded Accounts (Real Capital)
After three successful payouts on your CASH account, you become eligible for a LIVE funded account.
This is where you trade real money in live markets. No more simulation. Real fills, real capital, real profits with daily unlimited payouts.
At some prop firms, this is also where the professional data bill arrives.
At Phidias? Still free.
We continue covering your Level 1 data on LIVE accounts because we’re invested in your long-term success. The cost of data feeds is part of our operational expenses, not yours.
You focus on trading. We handle the infrastructure.
Level 2 Market Depth Add-On
If your strategy requires full order book visibility, we offer Level 2 data as an optional add-on.
Pricing:
- €11/month for a single exchange (CME, CBOT, NYMEX, or COMEX)
- €33/month for all four exchanges
You can activate this anytime through your member area under the Rithmic Addons tab.
Most traders don’t need it. But if you’re doing DOM scalping or order flow analysis, the option is there at a reasonable price.
Choose your account type
Static: Static Drawdown & Direct access to live.
Fundamental: Classic intraday evaluation account.
Swing: Classic evaluation account with the ability
to hold your positions overnight.
10K Drawdown Challenge: Our monthly trading
challenge with a $10K live account as the prize.
Your account type
Static: Static Drawdown & Direct access to live.
Fundamental: Classic intraday evaluation account.
Swing: Classic evaluation account with the ability
to hold your positions overnight.
10K Drawdown Challenge: Our monthly trading
challenge with a $10K live account as the prize.
Your payment option
One-Time Payment
Enjoy a reduced rate with a one-time payment.
No activation fees to pay after passing the evaluation.
Evaluation
Payment in two steps:
1️⃣ When purchasing the evaluation
2️⃣ Then activation of the funded account once the
evaluation is validated.
- No Monthly Subscription
- Evaluation & Activation Included
- No Rush To Pass Evaluation
- Lifetime Funded Account
$25K Static
CASH activation fee : $83 $0
Profit target : $1,500
Max Contracts : 2 minis (20 micros)
Maximum drawdown : $500
Drawdown type : Static
News Trading : Allowed
Data Feed : dxFeed 
Or Rithmic 
Minimum trading days : 1
*Price excluding taxes
$25K Static
CASH activation fee : $83
Profit target : $1,500
Max Contracts : 2 minis (20 micros)
Maximum drawdown : $500
Drawdown type : Static
News Trading : Allowed
Data Feed : dxFeed Or Rithmic
Minimum trading days : 1
*Price excluding taxes
Your payment option
One-Time Payment
Enjoy a reduced rate with a one-time payment.
No activation fees to pay after passing the evaluation.
Evaluation
Payment in two steps:
1️⃣ When purchasing the evaluation
2️⃣ Then activation of the funded account once the
evaluation is validated.
- No Monthly Subscription
- Evaluation & Activation Included
- No Rush To Pass Evaluation
- Lifetime Funded Account
$50K Fundamental
CASH activation fee : $149 $0
Profit Target : $4,000
Max Contracts : 10 minis (100 micros)
Maximum drawdown : $2,500 EOD (End Of Day)
Daily loss limit : None
News Trading : Allowed
Data Feed : dxFeed Or Rithmic
Minimum trading days : 3
*Price excluding taxes
$100K Fundamental
CASH activation fee : $149 $0
Profit Target : $6,000
Max Contracts : 14 minis (140 micros)
Maximum drawdown: $3,000 EOD (End Of Day)
Daily loss limit : None
News Trading : Allowed
Data Feed : dxFeed Or Rithmic
Minimum trading days : 3
*Price excluding taxes
$150K Fundamental
CASH activation fee : $169 $0
Profit Target : $9,000
Max Contracts : 17 minis (170 micros)
Maximum drawdown: $4,500 EOD (End Of Day)
Daily loss limit : None
News Trading : Allowed
Data Feed : dxFeed Or Rithmic
Minimum trading days : 3
*Price excluding taxes
$50K Fundamental
CASH activation fee : $149
Profit Target : $4,000
Max Contracts : 10 minis (100 micros)
Maximum drawdown : $2,500 EOD (End Of Day)
Daily loss limit : None
News Trading : Allowed
Data Feed : dxFeed Or Rithmic
Minimum trading days : 3
*Price excluding taxes
$100K Fundamental
CASH activation fee : $149
Profit Target : $6,000
Max Contracts : 14 minis (140 micros)
Maximum drawdown: $3,000 EOD (End Of Day)
Daily loss limit : None
News Trading : Allowed
Data Feed : dxFeed Or Rithmic
Minimum trading days : 3
*Price excluding taxes
$150K Fundamental
CASH activation fee : $169
Profit Target : $9,000
Max Contracts : 17 minis (170 micros)
Maximum drawdown: $4,500 EOD (End Of Day)
Daily loss limit : None
News Trading : Allowed
Data Feed : dxFeed Or Rithmic
Minimum trading days : 3
*Price excluding taxes
Your payment option
One-Time Payment
Enjoy a reduced rate with a one-time payment.
No activation fees to pay after passing the evaluation.
Evaluation
Payment in two steps:
1️⃣ When purchasing the evaluation
2️⃣ Then activation of the funded account once the
evaluation is validated.
- No Monthly Subscription
- Evaluation & Activation Included
- No Rush To Pass Evaluation
- Lifetime Funded Account
$50K Swing
CASH activation fee : $149 $0
Profit Target : $4,000
Max Contracts : 10 minis (100 micros)
Maximum drawdown : $2,500 EOD (End Of Day)
Daily loss limit : None
News Trading : Allowed
Overnight & Overweek : 1 mini contract allowed
Data Feed : dxFeed Or Rithmic
Minimum trading days : 3
*Price excluding taxes
$100K Swing
CASH activation fee : $149 $0
Profit Target : $6,000
Max Contracts : 14 minis (140 micros)
Maximum drawdown : $3,000 EOD (End Of Day)
Daily loss limit : None
News Trading : Allowed
Overnight & Overweek : 2 mini contracts allowed
Data Feed : dxFeed Or Rithmic
Minimum trading days : 3
*Price excluding taxes
$150K Swing
CASH activation fee : $169 $0
Profit Target : $9,000
Max Contracts : 17 minis (170 micros)
Maximum drawdown : $4,500 EOD (End Of Day)
Daily loss limit : None
News Trading : Allowed
Overnight & Overweek : 3 mini contracts allowed
Data Feed : dxFeed Or Rithmic
Minimum trading days : 3
*Price excluding taxes
$50K Swing
CASH activation fee : $149
Profit Target : $4,000
Max Contracts : 10 minis (100 micros)
Maximum drawdown : $2,500 EOD (End Of Day)
Daily loss limit : None
News Trading : Allowed
Overnight & Overweek : 1 mini contract allowed
Data Feed : dxFeed Or Rithmic
Minimum trading days : 3
*Price excluding taxes
$100K Swing
CASH activation fee : $149
Profit Target : $6,000
Max Contracts : 14 minis (140 micros)
Maximum drawdown : $3,000 EOD (End Of Day)
Daily loss limit : None
News Trading : Allowed
Overnight & Overweek : 2 mini contracts allowed
Data Feed : dxFeed Or Rithmic
Minimum trading days : 3
*Price excluding taxes
$150K Swing
CASH activation fee : $169
Profit Target : $9,000
Max Contracts : 17 minis (170 micros)
Maximum drawdown : $4,500 EOD (End Of Day)
Daily loss limit : None
News Trading : Allowed
Overnight & Overweek : 3 mini contracts allowed
Data Feed : dxFeed Or Rithmic
Minimum trading days : 3
*Price excluding taxes
$10K Drawdown Challenge
Winter Summit Edition
$24,000 Cash Prizes to Win!
Maximum drawdown : $10 000 EOD (End Of Day trailling)
Number of entries : Unlimited
Max Contracts : 25 minis (250 micros)
Over night & Over week-end : 25 mini contracts allowed
Data Feed : dxFeed Or Rithmic
Current challenge timeline: Start on January 2nd and ends on February 28th. Results are announced 1st of March.
*Price excluding taxes
Frequently Asked Questions About Prop Firm Market Data
Trade With Professional Data. Zero Monthly Fees.
Join Phidias and get professional-grade Rithmic data included with every account. Focus on trading, not covering overhead costs.
