What is a Prop Firm Account? The Complete Guide to Trading with Phidias Propfirm

Are you looking to elevate your trading career but lack the substantial capital needed to generate meaningful returns? A proprietary trading account could be your gateway to accessing significant funding and transforming your trading skills into substantial profits. At Phidias Propfirm, we provide traders with access to up to $1M in prop firm funding, allowing you to trade the futures markets with the best possible conditions.

In this comprehensive guide, we’ll explore everything you need to know about prop firm accounts, from understanding how they work to navigating the evaluation process and ultimately succeeding as a funded trader with Phidias Propfirm.

TL;DR: What is a Prop Firm Account?

A prop firm account is a funded trading account where a Prop trading Firm (like Phidias Propfirm) provides you with their capital after you pass an evaluation process. Instead of trading with your limited personal funds, you trade with significant firm capital ($25K-$1M) in futures markets and keep 80% of all profits you generate.

This arrangement eliminates personal financial risk beyond the initial evaluation fee while giving you access to professional-grade tools, leverage, and scaling opportunities that would otherwise be unavailable to individual traders. With clear rules on drawdown limits and profit targets, prop accounts create a structured framework for transforming trading skills into substantial income without the capital barriers of traditional trading.

Understanding Prop Firm Accounts

What is a Proprietary Trading Firm?

A proprietary trading firm, commonly known as a prop firm, is a financial company that provides traders with capital to trade various financial markets. Unlike traditional brokers that simply execute trades for clients, prop firms actually fund traders with their own capital and share in the profits generated from successful trading.

At Phidias Propfirm, we operate on a model inspired by our namesake—the ancient sculptor Phidias—helping to sculpt your trading success by providing the resources, tools, and capital you need to thrive in the futures markets. Our approach gives talented traders the opportunity to trade with significant capital without risking their own funds, creating a mutually beneficial relationship where both the trader and the firm profit from successful trading outcomes.

How Does Prop Firm Accounts Work

The fundamental concept behind prop firm accounts is straightforward: we provide the trading capital, you provide the trading expertise. Here’s how the process works at Phidias Propfirm:

1. Evaluation Phase: Traders first demonstrate their skills by completing an evaluation or challenge with specific profit targets and risk parameters.
2. Funded Account: Upon successful completion of the challenge account, traders receive access to a Funded account (CASH) with real capital to trade.
3. Profit Sharing: When you generate profits on your funded account, we split the profits according to a predetermined ratio, typically with 80% going to the trader.
4. Path to Live Trading: After demonstrating consistent success with multiple payouts, traders can advance to a LIVE account with even better conditions.

The beauty of this model is that it aligns our interests with yours. We succeed when you succeed, creating a partnership that encourages disciplined trading and consistent profitability. At Phidias, we offer multiple account types to accommodate various trading styles and preferences, making it possible for virtually any skilled trader to find success within our ecosystem.

Read our deep dive: How Do Prop Firms Work ? Ultimate Guide

Getting Started with a Phidias Prop Firm Account

The Evaluation Process

The journey to becoming a funded trader at Phidias Propfirm begins with our evaluation process. This critical step allows us to identify traders with the skills, discipline, and consistency needed to succeed with our capital.

Our evaluation phase is designed to be straightforward and achievable:

• You can pass the challenge in as few as 3 trading days, giving skilled traders a rapid path to funding.
• Trading days run from 11 p.m. to 10 p.m. (UTC), providing ample time for strategic execution.
• The evaluation focuses on reaching specific profit targets while respecting maximum loss limits.
• Once you’ve completed your challenge successfully, you’ll move directly to a Funded account (CASH) where you can begin earning real payouts.

What sets our challenge account apart from many competitors is its simplicity and transparency. We don’t use the evaluation as a profit center—we genuinely want skilled traders to pass and join our funded program. That’s why we provide clear guidelines, reasonable targets, and a fair assessment of your trading ability.

Account Types at Phidias Propfirm

At Phidias Propfirm, we understand that traders have different styles, strategies, and needs. That’s why we offer a variety of account types to match your specific trading approach:

Fundamental Prop Firm Accounts

Our Fundamental accounts are ideal for day traders who prefer to close all positions before the end of each trading day. These accounts offer:

• Account sizes ranging from $50K to $100K
• Profit targets of $4,000 for $50K accounts
• Maximum contracts of 10 minis (100 micros) for $50K accounts
• End of Day (EOD) drawdown limits of $2,500 for $50K accounts

Swing Prop Firm Accounts

Our Swing accounts cater to traders who prefer to hold positions overnight or even over weekends. These accounts feature:

• The ability to hold positions overnight and overweek
• Greater flexibility for longer-term trading strategies
• Similar capital allocations to Fundamental accounts but with specific rules for position sizing for overnight holdings

Static Prop Firm Accounts

Our 25K Static accounts offer a simplified path to funding:

• Fixed $500 drawdown limit (not trailing)
• Clear profit target of $1,500
• Maximum of 2 mini contracts (20 micros)
• Rapid path to LIVE account status

10K Drawdown Challenge Accounts

Our unique 10K Drawdown account provides:

• Competitive challenge format where top performers receive funding
• No minimum trading days for withdrawals
• Daily payouts on LIVE accounts
• Simplified drawdown structure

This diverse range of account options ensures that whether you’re a scalper, day trader, or swing trader, we have an account structure that accommodates your trading style and objectives. At Phidias, we believe in empowering traders by providing options rather than forcing everyone into a one-size-fits-all approach.

Trading Rules and Guidelines for Prop Firm Accounts

Risk Management Parameters

Successful trading at Phidias Propfirm—and indeed in any trading environment—hinges on effective risk management. Our rules are designed to protect both your trading account and our capital while still allowing sufficient flexibility for profitable trading.

Key risk parameters include:

Maximum Drawdown Limits in our Prop Firm Accounts

Each account has a maximum authorized loss limit, which represents the threshold beyond which trading will be suspended. For example:

• A $50K Fundamental account has a maximum drawdown of $2,500 calculated at the End of Day (EOD)
• A $100K Fundamental account has a maximum drawdown of $3,000 EOD
• The 25K Static account has a fixed $500 drawdown limit

Trailing End of Day (EOD)

For most account types, we employ a trailing drawdown mechanism that adjusts based on your profitability:

• Your authorized drawdown is calculated at the end of each trading day
• As your account balance reaches new profit peaks, the drawdown limit adjusts upward to protect your gains
• For example, if your $50K account grows to $50,500, your new liquidation level would be $48,000 instead of $47,500

This trailing mechanism provides an important balance: it protects your accumulated profits while still giving you the flexibility to execute your trading strategy. It’s worth noting that for funded accounts, the EOD trailing stops at $50,100 for 50K accounts and $100,100 for 100K accounts, providing clear parameters for managing your risk.

Permitted Trading Styles

At Phidias Propfirm, we believe in giving traders autonomy and flexibility in their trading approach. Your trading style is an expression of your personality and strategy, and we’re here to support that without unnecessary restrictions.

Day Trading, Swing Trading Prop Firm Account

• Fundamental accounts are designed for day traders who close all positions before the end of the trading day
• Swing accounts allow for positions to be held overnight and over weekends
• All accounts permit various trading approaches including scalping, momentum trading, and more

Overnight Positions

• Swing accounts explicitly allow for overnight and overweek positions
• Fundamental accounts require all positions to be closed before the end of the trading day
• The 10K Drawdown account has specific rules regarding overnight positions

News Trading

• We allow trading during news events on all account types
• This gives you the freedom to implement strategies that capitalize on market-moving announcements
• There are no restrictions on trading volatile market conditions

Our philosophy is simple: as long as your trading is legitimate, aligns with market conditions, and can be replicated on our corporate accounts, you have the freedom to trade according to your own strategy and style. This approach sets us apart from many prop firms that impose rigid restrictions on trading methodologies.

The Path to Success with Phidias Prop Firm Account

Payout Structure and Profit-Sharing

One of the most attractive aspects of trading with Phidias Propfirm is our generous and transparent payout system. We believe in rewarding traders fairly for their skill and effort.

How Prop Firm Payouts Work

• You can request withdrawals after accumulating a minimum of 10 trading days
• The minimum withdrawal amount is $1,000
• Withdrawal requests must be made between the 20th and 25th of each month for payment at month-end
• After your first three payouts, withdrawal limits are removed for most account types

Profit Split Percentages

• We offer an industry-leading 80/20 profit split in favor of the trader
• This means you keep 80% of your generated profits while 20% goes to Phidias
• For context, many prop firms offer only 60-70% to traders

Payment Timeframes and Methods

• Payments are processed via RISEWORKS.io
• Processing typically occurs within 24-48 hours after approval
• Our traders consistently report fast and reliable payouts

The testimonials from our traders highlight our commitment to prompt payments. As one trader noted: “Received my payout within 24 hours of requesting. Smooth experience overall. Thank you Phidias!”

Scaling Up Your Trading Capital with Prop Firm Accounts

At Phidias Propfirm, we provide clear pathways for scaling your trading career and increasing your earning potential over time.

Multiple Account Management

• Traders can manage up to 15 funded accounts (5 Fundamental + 5 Swing + 5 Static), plus a 10K Drawdown account
• This multiplies your earning potential significantly
• Each account can generate separate profits and payouts

Path to Live Accounts

After demonstrating consistent success, you can progress to a LIVE account:

• This happens after 3 payouts with one account or $75,000 in cumulative payouts
• LIVE accounts offer even more favorable conditions, including daily payouts
• Your LIVE account receives credits based on the performance of your CASH accounts

Growing Your Capital Allocation

• Success with smaller accounts can lead to opportunities with larger capital allocations
• Our ELITE LIVE and MASTER LIVE accounts offer capital of up to $125,000 and $250,000 respectively
• These advanced accounts are available to traders with proven track records

This structured progression creates a clear career development path for serious traders. Rather than hitting a ceiling on your earnings potential, Phidias Propfirm offers continual opportunities for growth as your skills and experience develop.

Advantages of Trading a Prop Firm Account

Benefits for Prop Firm Traders

Trading with a prop firm account offers numerous advantages over trading solely with your personal capital. At Phidias Propfirm, we’ve enhanced these benefits to create an optimal trading environment.

Access to Substantial Capital

• Trade with up to $1M in funding without risking your own capital
• Access to larger position sizes than most traders could afford individually
• Ability to generate meaningful returns even with modest percentage gains

Limited Downside Risk

• You’re not risking your own trading capital
• Clear risk parameters provide structure and protection
• The challenge account fee is your only financial exposure

Professional Trading Environment

• Access to professional-grade trading platforms
• Market depth data available for serious traders
• A framework that encourages disciplined trading practices

As one of our traders puts it: “The best prop firm! Whether it’s the support on Discord, the offers proposed by Phidias, or the speed of payment, everything is perfect!”

Support and Resources for Success

At Phidias Propfirm, we’re committed to your success because it directly aligns with our own. That’s why we provide comprehensive support and resources to help you thrive.

Educational Resources

• Access to trading knowledge and strategic insights
• Performance reports to help you analyze and improve your trading
• Transparency in all aspects of account management

Prop Firm Trading Community

• Join a community of over 10,000 traders
• Learn from others’ experiences and strategies
• Benefit from collective wisdom and shared insights

Technical Support

• 24/7 support to assist with any issues or questions
• Multilingual support in English, French, and Spanish
• Dedicated team to help with platform setup and technical questions

One trader testimonial highlights our commitment to support: “Excellent PropFirm, serious and professional team, clear rules, ultra responsive support. A pleasure to work with Phidias PropFirm.”

Conclusion and Next Steps

A prop firm account with Phidias Propfirm represents an exceptional opportunity to leverage your trading skills with significant capital, minimal risk, and outstanding support. Whether you’re an experienced trader looking to scale your operations or a skilled newcomer seeking to establish yourself in the futures markets, our funded accounts provide the foundation for trading success.

To get started with Phidias Propfirm, simply:

1. Choose the prop firm account type that best suits your trading style
2. Complete the registration process
3. Begin your evaluation with clear targets and guidelines
4. Pass your evaluation and start trading your funded account
5. Generate profits and receive your share through our streamlined payout system

Join the thousands of traders who have found success with Phidias Propfirm and take the first step toward sculpting your trading future today. With our capital behind you and our support team beside you, you’re positioned for success in the competitive world of futures trading.