Phoenix Trader Funding quick answer
Phoenix Trader Funding is a France-based futures evaluation business with four account families: Classic, Daily, Spark and Merit. Classic keeps end-of-day trailing drawdown through evaluation and simulated funded stages and pays weekly at 90%. Current Spark is a one-time purchase with a 90% share, a $29 activation fee, no evaluation consistency rule and 30% funded consistency. Daily offers an 80% share with matured-profit payments on trading days. Merit uses a performance review rather than a fixed profit target.
The distinction between current and legacy rules matters. Phoenix's August 2026 version 3 announcement changed Spark from 80% monthly-subscription accounts to 90% one-time accounts and introduced the $10K Seed. Existing accounts keep their purchased terms. This review was refreshed on 3 October 2026 and preserves the existing 76/100 editorial score and Moderate caution.
Current account prices and evaluation rules
- Profit target
- $1,500
- Total loss allowance
- $1,500 EOD trailing
- Minimum evaluation days
- 2
Drawdown and risk controls by stage
Classic retains EOD trailing drawdown after passing. Daily also retains EOD calculation in the simulated funded stage. Spark is the important exception: the evaluation uses EOD, but the funded account changes to real-time trailing drawdown. That can make open-profit giveback more consequential after funding than during qualification.
Merit is structurally different. It has a static total loss amount and a 25% dynamic daily drawdown during evaluation. The daily limit does not continue in the same form after live approval. Classic, Daily and Spark evaluations have no separate daily-loss limit in the September funding guide.
Drawdown, consistency and payout buffer are separate controls. EOD describes when a trailing threshold updates; it should never be read as permission to ignore the displayed minimum balance or platform risk controls. For each purchased account, verify the enforcement calculation and session cutoff in the governing FAQ and dashboard rather than transferring another family's rules.
Classic and Spark payouts
Classic's current weekly schedule requires five counted days. By size, the minimum profit per counted day, permanent buffer and per-request cap are:
| Classic size | Profit per counted day | Locked buffer | Maximum payout |
|---|---|---|---|
| $25K | $100 | $1,500 | $600 |
| $50K | $200 | $2,000 | $1,000 |
| $100K | $300 | $3,000 | $2,000 |
Classic has a $75 minimum request and no funded consistency percentage. A profitable day below its size-specific threshold does not count toward the five.
Current Spark pays biweekly after five counted days and applies 30% funded consistency. Seed requires $40 per counted day, a $30 minimum request and a $300 cap. Starter requires $100 per counted day, a $75 minimum and a $400 cap. Spark has no locked payout buffer, although the active drawdown floor still limits what can safely leave the account.
A cap is a ceiling on one payout, not a guarantee of that amount. Profits must be closed, the request must satisfy the account rules, and the trader's applicable reward share still determines the payment. Legacy Spark accounts can retain their old 80% share; the current 90% offer is not applied backward.
Daily profit maturation and Merit rewards
Daily does not require five newly qualifying days between every request. Instead, its current cards say profits unlock after three daily closes. Days contributing more than 30% of total profit unlock after five closes rather than three. This newer displayed exception matters: Daily does not make today's full gain withdrawable immediately.
The Daily $10K/$25K/$50K buffers are $600/$1,500/$2,000 and the daily caps are $200/$500/$1,000. Minimum payout is $75. Phoenix's published account-family explanation also limits combined Daily payouts to $1,000 per trader per day across accounts, so multiple accounts do not multiply that overall ceiling.
Merit pays only after successful risk review and live activation. Its published adaptive share is 50% until the trader has recovered the entry fee in payouts, then 80%. This corrects the earlier description that tied the step-up to Phoenix recovering a capital contribution. The performance review is not a promise of funding, and failing the review does not generate another reset attempt.
Processing times and account inactivity
The October 2026 Terms of Use say approved payouts are normally sent within three business days. September educational pages describe faster automated clearance and sending within 24 hours. For planning, the newer legal terms are the safer reference; neither statement guarantees the time funds reach the final provider or bank.
Educational payout pages list Payoneer, PayPal and Wise. Crypto is discussed as a purchase method, not a standard outgoing reward rail. Available methods and any provider fees should be checked in the dashboard. The October terms allow human review of flagged requests and say a trader can ask for a human review of a decision.
Pre-Funded accounts need trading activity at least once every seven calendar days, while the published live-account guidance uses a 30-day activity interval. Token trades solely to satisfy a day or inactivity check are prohibited. Plan activity and withdrawals around those conditions instead of assuming an unused profitable account stays open indefinitely.
Platforms, markets and permitted strategies
Odin is Phoenix's own terminal. Its ecosystem includes TFeed execution, the Thor personal trade copier and Saga journaling. The current site also names Quantower, ATAS, NinjaTrader, Tradovate and Volumetrica interfaces. Availability depends on the feed, account and connection route; Daily is specifically TFeed-only. A partner logo is not proof that every platform works directly with every account.
The current homepage lists CME, CBOT, COMEX, NYMEX and EUREX futures, including equity indexes, currencies, metals, energy, agricultural contracts and bonds. Confirm the specific symbol and exchange on the chosen feed because older educational pages describe only CME-group coverage.
News trading, including major releases, and scalping are permitted in the published rules. Copying the trader's own decisions is allowed. Autonomous entry-generating EAs and bots, cross-account hedging, third-party account management, overnight positions and weekend positions are prohibited. A copier that repeats a manual decision is different from an automated system that generates the decision.
Company identity, live progression and verdict
October terms identify Phoenix Trader Funding SAS, registered in Paris under RCS 978 715 332, with its registered office in Paris, France. The company is not a broker, does not hold customer investment capital, and describes evaluations and funded accounts as simulated unless a separate discretionary live or copied arrangement is offered. The About page also identifies Paris headquarters and describes the brand as operating since 2024; the exact brand-launch year is not independently established here.
Classic and Spark reach live review after four payouts plus risk approval. Daily uses lifetime payout milestones of $1,200/$3,000/$6,000 by size, while Merit moves to live after its review. These are conditional transitions, not automatic access to the nominal evaluation balance.
To apply, select the family and supported feed, review billing and purchased rules, and complete the evaluation or Merit review. KYC and a funded trader agreement are required before funded activation and payment. Preserve that agreement because version changes distinguish new accounts from existing ones.
Classic suits traders prioritizing EOD funded rules and weekly requests; Spark reduces recurring-cost exposure but adds activation, intraday funded drawdown and consistency. Daily trades a lower share for frequent matured-profit access. Merit is for those who understand discretionary performance assessment and live-stage-only rewards. This review is based on published documentation and rendered account cards, not firsthand trading or verified payout testing.
Official sources
Trading Conditions
- Profit split
- 90% current Classic/Spark; 80% Daily; Merit 50% until entry fee recouped then 80%; legacy terms differ
- Max drawdown
- Classic/Daily EOD trailing; Spark EOD evaluation then intraday funded; Merit $2,000 static
- Daily drawdown
- None on Classic/Daily/Spark evaluations; Merit 25% dynamic during evaluation
- Profit target
- Classic/Spark/Daily 6% by size; Merit no fixed target
- Min trading days
- 1 days
- Payout frequency
- Classic weekly; Spark biweekly; Daily after 3 closes or 5 for large days; Merit live only
- Platforms
- Odin; Quantower, ATAS, NinjaTrader, Tradovate and Volumetrica via supported feed routes; Daily TFeed only
- Instruments
- CME, CBOT, COMEX, NYMEX and EUREX futures, subject to selected feed and symbol availability
- News tradingAllowed
- EAs / botsNot allowed
- Copy tradingAllowed
Audit Points
- 11. Legal terms identify a French SAS in Paris; prior United States country corrected.
- 22. Current Spark is $44/$74 one-time plus $29 activation, at 90%; legacy 80% subscription terms remain separate.
- 33. Current Daily prices are $99/$199/$329 one-time; profits mature after three closes, or five when a day exceeds 30% of total.
- 44. October terms normally send approved payouts within three business days, a more cautious reference than older 24-hour marketing.
- 55. Classic retains EOD funded drawdown; Spark changes to real-time. Daily and Merit have distinct risk/payout mechanics.
- 66. Merit share rises after the trader recovers the entry fee, not after Phoenix recovers its capital.
- 77. Personal copying/news are permitted; automated entry bots and overnight/weekend holding are prohibited.
- 88. Existing 76/100 and Moderate caution retained; company-history date remains a documented uncertainty.
Phoenix Trader Funding — Frequently Asked Questions
Its October 2026 terms identify Phoenix Trader Funding SAS, registered in Paris, France under RCS 978 715 332. It is a simulated evaluation provider, not a broker.
The $10K Seed is $44 one-time and $25K Starter $74 one-time, plus a $29 activation fee after passing. Current reward share is 90%; old accounts keep purchased terms.
Profits normally unlock after three daily closes. Current cards say days over 30% of total profit unlock after five. Size-specific buffers and caps apply, with a $1,000 combined daily cap across the trader's Daily accounts.
Five counted days, weekly requests, $75 minimum, and a locked size-specific buffer. Counted-day thresholds are $100/$200/$300 and request caps $600/$1,000/$2,000 for $25K/$50K/$100K.
October 2026 terms say approved payments are normally sent within three business days. Older educational pages advertise faster dispatch; receiving-bank and provider timing remains additional.
No fixed profit target. It has a $2K static loss amount, 25% dynamic daily evaluation drawdown, up to 30 calendar days and one attempt. Payouts begin only after successful review and live activation.
Published Merit terms describe a 50% share until the trader recovers the entry fee through payouts, then 80%. It is not tied to Phoenix recovering its capital contribution.
News and personal copying are permitted. Autonomous entry-generating EAs and bots, cross-account hedging, overnight and weekend positions are prohibited. Feed and account-specific conditions still apply.
No coupon is currently listed. Prices in this review are regular official references, without unrelated promotional codes or claims of checkout testing.