Perpetuals
Propr Classic 2-Step
50,000 USDC account
Selected public offer only. Buyer eligibility and other variants are outside this comparison.
Sources checked 19 September – 24 October 2026. Reviewed by a site member and AI assistants. Release pfw-release-2026-10-24-pilot-2, approved 24 October 2026. Each source shows the date it was last checked.
Costs
List price
List price: $450 one-time
Conditions and limits. $450, paid once for the 50,000 USDC account: a one-time, non-refundable evaluation fee.
Official sources: Propr · Homepage and account selector (checked 23 October 2026); Propr · Official Rulebook (checked 23 October 2026).
About this rule. The advertised base price of the selected account and how it is billed. A temporary public offer, available without a code, is shown beside it with any conditions the firm states, while a recent check confirms it; codes, optional purchases and unverified buyer charges are excluded.
Compare this rule across accounts
Read the guide: What are you buying when you pay for a challenge?
Fee per $1,000 of opening risk
Fee per $1,000 of opening risk: $112.50USDC counted at $1
Conditions and limits. One payment: the one-time evaluation fee. No monthly, inactivity, data, platform or withdrawal fees; trading fees and funding are charged on trades (see Trading fees and Funding payments).
How this is calculated. (List price × charges in a 30-day attempt + activation fee + platform and data fees), in US dollars, divided by the opening loss allowance in US dollars and multiplied by 1,000.
- List price
- $450 one-time
- Charges in a 30-day attempt
- 1
- Activation fee
- None
- Platform and data fees
- None
- Opening loss allowance
- 4,000 USDC
- Opening loss allowance in US dollars
- $4,000
- USDC price
- 1 USDC = $1 (market price $0.9997), CoinGecko at 05:02 UTC on 26 October 2026
- Result
- $112.50
US-dollar amounts count 1 USDC as $1 while its market price is from $0.99 to $1.01 inclusive; CoinGecko's price at 05:02 UTC on 26 October 2026 was $0.9997. Outside that range they use the market price. Powered by CoinGecko.
Promotions, coupons and optional add-ons are excluded.
Final buyer charges such as taxes or payment fees are not verified.
Official sources: Propr · Homepage and account selector (checked 23 October 2026); Propr · Official Rulebook (checked 23 October 2026).
Source: CoinGecko · USDC price (checked 26 October 2026).
About this rule. The advertised base cost of a 30-day attempt in US dollars, divided by the opening loss allowance and multiplied by 1,000. A cost scenario for comparing accounts, not an all-in price.
Activation fee
Activation fee: None
Official sources: Propr · Official Rulebook (checked 23 October 2026); Propr · Homepage and account selector (checked 23 October 2026).
About this rule. A mandatory charge to activate a funded account after passing, if any.
Compare this rule across accounts
Read the guide: Reserve activation costs and keep refunds conditional
Platform and data fees
Platform and data fees: None
Official source: Propr · Official Rulebook (checked 23 October 2026).
About this rule. Mandatory platform or market-data charges on top of the list price, if any.
Compare this rule across accounts
Read the guide: What market data is included, and what costs extra?
Trading fees
Trading fees: Hyperliquid's maker and taker fees, passed through at cost without markup; the asset list gives them per asset, such as 0.015% maker and 0.045% taker on BTC and ETH, and 0.003% maker and 0.009% taker on equities, indices and gold. They are deducted from the balance and count toward profit and loss, and so toward the equity limits.
Official sources: Propr · Official Rulebook (checked 23 October 2026); Propr · Asset Universe (checked 23 October 2026).
About this rule. The fees charged on each trade, such as maker and taker rates, and what they are a percentage of. They are not part of the account's price.
Funding payments
Funding payments: Hyperliquid's periodic funding rates are deducted or credited to the account automatically, and their effect is included in equity.
Official source: Propr · Official Rulebook (checked 23 October 2026).
About this rule. How the periodic payments between long and short positions of a perpetual contract are applied to the account, and whether they count towards the profit target and the loss limits.
Payout processing fees
Payout processing fees: None: no withdrawal fees; payouts are in USDC on-chain.
Official source: Propr · Official Rulebook (checked 23 October 2026).
About this rule. Charges deducted when a payout is sent, which depend on the payment method.
Compare this rule across accounts
Read the guide: How do payout processing fees affect cash received?
Evaluation & risk
Opening loss allowance
Opening loss allowance: 4,000 USDC
How this is calculated. Opening balance minus the opening total-loss floor, for each required evaluation phase. The smallest result is used.
- Phase 1 opening balance
- 50,000 USDC
- Phase 1 opening total-loss floor
- 46,000 USDC
- Phase 2 opening balance
- 50,000 USDC
- Phase 2 opening total-loss floor
- 46,000 USDC
- Result
- 4,000 USDC
Daily loss limits and any trailing of the floor after the opening are separate rules.
Official sources: Propr · Homepage and account selector (checked 23 October 2026); Propr · Official Rulebook (checked 23 October 2026).
About this rule. How much the account can lose from its opening balance before the total-loss rule is broken, using the smallest allowance across the required evaluation phases. An account bought without an evaluation uses its funded account's allowance. It is not daily headroom, live capital or a pass probability.
Compare this rule across accounts
Read the guide: How do you calculate the opening loss allowance?
Difficulty ratio
Difficulty ratio: 1.875
How this is calculated. For each required evaluation phase, the profit target divided by that phase's opening loss allowance. The results are added.
- Phase 1 profit target
- 5% of 50,000 USDC = 2,500 USDC
- Phase 1 opening loss allowance
- 4,000 USDC
- Phase 2 profit target
- 10% of 50,000 USDC = 5,000 USDC
- Phase 2 opening loss allowance
- 4,000 USDC
- Result
- 1.875
This describes the shape of the evaluation; it is not a pass probability.
Official sources: Propr · Homepage and account selector (checked 23 October 2026); Propr · Official Rulebook (checked 23 October 2026).
About this rule. Each required phase's profit target divided by that phase's opening loss allowance, added together. More target per dollar of allowed loss gives a higher number; an account bought without an evaluation has no target, so its ratio is 0. It describes the shape of the evaluation, not the chance of passing.
Compare this rule across accounts
Read the guide: How PFW's comparison pages summarize a route
Evaluation route
Evaluation route: Classic 2-Step 50,000 USDC (the Silver size): two evaluation steps, then a simulated funded account with the same starting balance. Traded on Propr's terminal or through its API.
Official sources: Propr · Homepage and account selector (checked 23 October 2026); Propr · Official Rulebook (checked 23 October 2026); Propr · PROPR Evaluation Terms and Conditions (checked 23 October 2026).
About this rule. The exact variant compared here and the stages between purchase and a funded account.
Compare this rule across accounts
Read the guide: What do one-step, two-step, three-step, and instant funding mean?
Profit targets
Profit targets: 5% then 10%
Conditions and limits. Step 1: 2,500 USDC (5%); step 2: 5,000 USDC (10%), each of the starting balance and measured on equity, so open profit counts. We count each step from the starting balance, as the rulebook's table gives the targets; the rulebook also says the account balance carries over from step 1 to step 2, so step 2 ends when the account reaches 55,000 USDC, 110% of the starting balance.
Official sources: Propr · Homepage and account selector (checked 23 October 2026); Propr · Official Rulebook (checked 23 October 2026).
About this rule. The profit each required evaluation phase must reach, as a share of the opening balance. An account bought without an evaluation has none.
Compare this rule across accounts
Read the guide: How does the journey from purchase to payout work?
Total and daily loss
Total and daily loss: Maximum drawdown 8% trailing: the equity limit starts at 46,000 USDC and trails the highest equity, open profit included, by 4,000 USDC, never rising above the starting balance of 50,000 USDC. Maximum daily loss 5% of the start-of-day balance, reset at 00:00 UTC: the day's equity floor is that balance less 5%. Both limits are on equity, in both steps and on the funded account; touching either breaches the account for good and closes its positions.
Official source: Propr · Official Rulebook (checked 23 October 2026).
About this rule. The overall and daily loss limits, how they move, and what balance or equity they are measured against.
Compare this rule across accounts
Read the guide: Why can two “5% daily loss” rules produce different limits?
Minimum days and time limits
Minimum days and time limits: No time limit on either step and no minimum trading days.
Official source: Propr · Official Rulebook (checked 23 October 2026).
About this rule. The minimum number of trading or profitable days each evaluation phase requires, including any minimum the firm states a consistency rule sets, any time limit for passing, and any inactivity period after which the account is closed.
Leverage and position limits
Leverage and position limits: Leverage, applied automatically: BTC, ETH and SOL 10x, other crypto 2x, equities 4x, the SP500 and XYZ100 indices 10x, other indices 5x, gold, silver, CL and Brent 8x, other commodities 5x, FX 25x. The rulebook's summary box and the homepage give 5x for BTC and ETH (major crypto). Each asset has a maximum notional on the asset list (BTC $1,000,000), and Propr may ask you to reduce a position far above its open-interest threshold. A breach closes all open positions.
Official sources: Propr · Official Rulebook (checked 23 October 2026); Propr · Homepage and account selector (checked 23 October 2026); Propr · Asset Universe (checked 23 October 2026); Propr · PROPR Evaluation Terms and Conditions (checked 23 October 2026).
About this rule. The most leverage and the largest positions the account allows, by instrument group, and what happens to a position that reaches its liquidation price. A liquidated position is not by itself a breach of the account's loss limits.
Compare this rule across accounts
Read the guide: Can the prop account breach before a position is liquidated?
Payouts
First and later payouts
First and later payouts: On demand at any time, with no minimum waiting period and no limit on the number of requests, once KYC is complete.
Official source: Propr · Official Rulebook (checked 23 October 2026).
About this rule. When the first payout can be requested and how often later requests are allowed. Waiting periods, qualifying days, review and payment are separate clocks.
Payout minimums and caps
Payout minimums and caps: Minimum 20 USDC. Each payout is 80% of the balance above the starting balance, all of it at once: no partial withdrawals. No profit cap.
Official source: Propr · Official Rulebook (checked 23 October 2026).
About this rule. The smallest request allowed and any limit on how much can be withdrawn per request or cycle.
Funded consistency rules
Funded consistency rules: None: no consistency rule and no minimum trading days.
Official source: Propr · Official Rulebook (checked 23 October 2026).
About this rule. Rules on how profit must be spread across days or trades before a funded payout, and any required profitable days.
After a payout
After a payout: Each payout sweeps all profit above the starting balance, and the balance resets to the starting balance; all positions must be closed first. Sources differ on the trailing drawdown's high-water mark: the rulebook's drawdown section and the funded terms reset it to the starting balance, while the rulebook's payout rules say payouts on 2-Step funded accounts reduce it by the payout amount.
Official sources: Propr · Official Rulebook (checked 23 October 2026); Propr · PROPR Service Provision and Funded Account Terms (checked 23 October 2026).
About this rule. What changes on the account after a payout, such as how the loss limit resets or when the account closes.
Compare this rule across accounts
Read the guide: How do actual programs handle the post-payout threshold?
Published processing time
Published processing time: Processed within 24 hours, says the rulebook; the homepage says payouts settle on-chain in USDC within minutes.
Official sources: Propr · Official Rulebook (checked 23 October 2026); Propr · Homepage and account selector (checked 23 October 2026).
About this rule. How long the firm says review and payment take after a request. These are published estimates, not measured times.
Compare this rule across accounts
Read the guide: What do “24-hour,” “instant,” and “on-demand” payouts mean?
Refunds
Fee refund with a reward
Fee refund with a reward: None: the evaluation fee is a one-time, non-refundable fee.
Official source: Propr · Official Rulebook (checked 23 October 2026).
About this rule. Whether and when the challenge fee is paid back after a successful payout.
Cancellation refund
Cancellation refund: None: evaluation fees are non-refundable once the account is activated, and cancelling the account gives no refund.
Official sources: Propr · Official Rulebook (checked 23 October 2026); Propr · PROPR Evaluation Terms and Conditions (checked 23 October 2026).
About this rule. Whether a purchase can be cancelled and refunded, and on what conditions.
Trading rules
News trading
News trading: None: news can be traded in both stages.News trading: allowed in both stages.
Official source: Propr · Official Rulebook (checked 23 October 2026).
News trading by stage
- Evaluation and funded
- Allowed.
Official source: Propr · Official Rulebook (checked 23 October 2026).
About this rule. Restrictions on opening, closing or holding positions around scheduled news.
Compare this rule across accounts
Read the guide: What does a news-trading restriction actually restrict?
Overnight and weekend holding
Overnight and weekend holding: Allowed: no overnight or weekend holding restriction; crypto markets trade 24/7.Overnight and weekend holding: allowed in both stages.
Official source: Propr · Official Rulebook (checked 23 October 2026).
Overnight and weekend holding by stage
- Evaluation and funded
- Allowed.
Official source: Propr · Official Rulebook (checked 23 October 2026).
About this rule. Whether positions can be held overnight and over the weekend.
Compare this rule across accounts
Read the guide: Does no expiry mean you can hold indefinitely?
Expert advisors and copying
Expert advisors and copying: Automated trading and bots are allowed; the terms say a bot strategy identical to other users' or an off-the-shelf bot without individual customisation may be flagged as coordinated trading, while the FAQ says off-the-shelf systems are permitted. Copying between your own Propr accounts: sources differ for the evaluation (the rulebook permits it, the evaluation terms forbid mirror trades across your own accounts); the funded terms do not forbid it. Hedging across accounts is prohibited.Expert advisors: restricted in both stages.Copying your own trades: restricted in the evaluation, allowed when funded.
Official sources: Propr · Official Rulebook (checked 23 October 2026); Propr · PROPR Evaluation Terms and Conditions (checked 23 October 2026); Propr · Homepage and account selector (checked 23 October 2026).
Expert advisors by stage
- Evaluation and funded
- Restricted. Allowed; the terms say a bot strategy identical to other users' or an off-the-shelf bot without individual customisation may be flagged as coordinated trading, while the FAQ says off-the-shelf systems are permitted.
Official sources: Propr · Official Rulebook (checked 23 October 2026); Propr · PROPR Evaluation Terms and Conditions (checked 23 October 2026); Propr · PROPR Service Provision and Funded Account Terms (checked 23 October 2026); Propr · Homepage and account selector (checked 23 October 2026).
Copying your own trades by stage
- Evaluation
- Restricted. The rulebook permits copying between your own Propr accounts; the evaluation terms forbid identical or mirror trades across accounts you control and require each account to be traded independently.
- Funded
- Allowed.
Official sources: Propr · Official Rulebook (checked 23 October 2026); Propr · PROPR Evaluation Terms and Conditions (checked 23 October 2026).
About this rule. Whether automated strategies are allowed and whether trades can be copied between your own accounts.
Compare this rule across accounts
Read the guide: Automation and copying: what actually needs permission?
Contractual penalties
Contractual penalties: Prohibited conduct (exploiting bugs or latency, sharing accounts or trading several accounts from the same household, device or IP address, identity fraud, hedging across accounts, correlated assets included, or against external exchanges, coordinating with other traders, cycling evaluations, gaming payouts and drawdowns, wash trading, switching approach after passing, and strategies that are difficult to replicate in live markets or carry outsized risk when replicated) can lead to suspension, termination with no payout and a ban. Propr may also cancel or reclassify trades, cut leverage, cap volumes or impose consistency measures. Using a restricted jurisdiction ends the account with no refund or payout.
Official sources: Propr · Official Rulebook (checked 23 October 2026); Propr · PROPR Evaluation Terms and Conditions (checked 23 October 2026).
About this rule. Penalties the terms set out for rule breaches beyond failing the account.
Change record: Propr bars three more practices and caps evaluation accounts at $200,000
Compare this rule across accounts
Read the guide: Is it a prohibition, a condition or a review trigger?
Platforms & eligibility
Trading environment
Trading environment: Simulated in both stages: every trade runs on a simulated account and is submitted as a signal. Propr decides, trade by trade, whether to copy it to Hyperliquid at its own risk (labelled A-book, on-chain) or record it internally (B-book), with the same result for you; a copied position belongs to Propr.
Official sources: Propr · Homepage and account selector (checked 23 October 2026); Propr · Official Rulebook (checked 23 October 2026); Propr · Risk Disclaimer (checked 23 October 2026).
About this rule. Whether the account you trade is simulated or live in each stage, where its prices come from, and whether the firm copies trades into positions of its own. A firm copying your trades does not make your account live.
Compare this rule across accounts
Read the guide: Does a perpetual prop account trade live money?
Platforms
Platforms: Propr's own paper-trading terminal at app.propr.xyz, and its REST API with Python and JavaScript SDKs for automated trading.
Official sources: Propr · PROPR Evaluation Terms and Conditions (checked 23 October 2026); Propr · Homepage and account selector (checked 23 October 2026).
About this rule. The platforms the firm offers in this market, with any extra charge or country limit it states. It is the firm's list for all its accounts in the market.
Platform access and eligibility
Platform access and eligibility: Propr's terminal or its API. Not available to people from or located in the restricted jurisdictions (see Who can trade); KYC is needed before the funded account. Up to 300,000 USDC of funded accounts and 200,000 USDC of evaluation accounts per trader.
Official sources: Propr · PROPR Evaluation Terms and Conditions (checked 23 October 2026); Propr · Official Rulebook (checked 23 October 2026).
About this rule. Who can buy the account: age, identity checks and country restrictions, and any platform limits by country.
Change record: Propr bars three more practices and caps evaluation accounts at $200,000
Ratings
Not rated. Overall program scores and reliability ratings are not published yet; the figures above are measurements of stated terms, not a verdict.