Prop firm glossary
Quick answer
This glossary defines the rule words used on firm pages and reviews. Each entry is a plain definition. A firm is listed under a term only when a published rule matches that term. An empty firm list means we do not have an approved fact. It does not mean the firm has no rule.
How to use an entry
Open the term. Read the definition. Then open a firm on that entry and match the account size. A trailing drawdown on one account is not a trailing drawdown on every account at that firm. The definitions live at their own URLs, including /glossary/trailing-drawdown, /glossary/eod-drawdown, /glossary/static-drawdown, /glossary/daily-loss-limit, /glossary/consistency-rule, /glossary/profit-split, /glossary/activation-fee, and /glossary/reset-fee.
Not confirmed means the fact is missing, unpublished, or in conflict. Not applicable means the firm published that the field does not apply. None, when it appears on a consistency rule, means the firm published that it does not use one. Those three are different.
The longer walkthrough of the same words is the futures rules explainer. This page is the index.
The terms
A trailing drawdown (/glossary/trailing-drawdown) is a loss limit that can move up when the account makes a new high. An end-of-day drawdown (/glossary/eod-drawdown) is marked from the end-of-day balance, not from the highest tick. A static drawdown (/glossary/static-drawdown) stays a fixed distance from the starting balance. A daily loss limit (/glossary/daily-loss-limit) is the most the account can lose in one day. A firm that publishes no daily loss is not the same as a firm whose limit is unconfirmed.
A profit target (/glossary/profit-target) is what an evaluation requires before a pass. A consistency rule (/glossary/consistency-rule) limits how much of the profit can come from one day. None means the firm published that it does not use one. Minimum trading days (/glossary/minimum-trading-days) are the days required before a pass or a payout. A published zero is not an unconfirmed number.
A profit split (/glossary/profit-split) is the share the trader keeps after a payout. Lucid Trading's approved split is 90/10 on LucidFlex, LucidPro, LucidDaily, and LucidDirect. A firm that is not listed on that glossary entry does not inherit the split. Payout frequency (/glossary/payout-frequency) is how often a payout can be requested. The split does not set the schedule.
Product names are not these definitions. A plan called EOD still needs an approved drawdown type before this site states one.
An evaluation fee (/glossary/evaluation-fee) is the price to start. A reset fee (/glossary/reset-fee) restarts a failed evaluation and is a different charge. An activation fee (/glossary/activation-fee) is a charge after a pass, before the funded account, and it is not part of the evaluation price. News trading (/glossary/news-trading), weekend holding (/glossary/weekend-holding), and max contracts (/glossary/max-contracts) are published only when a rule says so.
FAQ
FAQ
Why would a firm be missing under a term?
No published rule matched. Missing is not a verdict.
Do the definitions include a firm's numbers?
No. The definition is the concept. The number is on the firm page when it is approved.
Can I treat a product name as the rule?
No. A plan called EOD still needs an approved drawdown type before this site states one.
What does Not confirmed mean?
We will not print a value we have not approved.
Which profit split can I verify from here?
Only a firm linked from the profit split entry. Lucid Trading's approved split is 90/10 on the four plans named on its firm page. A firm that is not linked does not inherit that split.
These are the words on a futures evaluation. They are not a firm's rules unless an approved fact says so.
Quick answer
A futures prop firm charges a fee, sets a loss limit, and may pay you a share of simulated profit if you pass its conditions. The fee, the loss limit, and the share are different facts. This page defines the words. The glossary entry for each word is linked below. A firm is named only when an approved rule uses that word. If the firm page says Not confirmed, this explainer does not fill the blank.
The fee
The evaluation fee is the price to start an evaluation. See the glossary entry at /glossary/evaluation-fee. On this site it is the checkout price: regular, and the code price when a checkout total is confirmed. A one-time fee is paid once for that account. A monthly fee repeats. The billing class is part of the price record. Do not compare a monthly number with a one-time number as if they were the same bill.
A reset fee is the price to restart a failed evaluation when the firm sells a reset. See /glossary/reset-fee. It is not inside the evaluation fee. If the firm has not published a reset price, the fee stays unconfirmed.
An activation fee is a charge some firms add after an evaluation is passed, before the funded account starts. See /glossary/activation-fee. It is not part of the evaluation price. Not confirmed is not the same as zero.
The loss limits
A trailing drawdown is a loss limit that can move up as the account reaches a new high. The account fails if equity or balance falls through that moving limit. See /glossary/trailing-drawdown.
An end-of-day drawdown is marked from the end-of-day balance rather than from the highest tick during the session. See /glossary/eod-drawdown.
A static drawdown stays at a fixed distance from the starting balance. It does not move when the account makes a new high. See /glossary/static-drawdown.
A daily loss limit is the most an account can lose in one day before it fails or locks. A firm that publishes no daily loss is not the same as a firm whose limit is unconfirmed. See /glossary/daily-loss-limit.
These four words are easy to mix up because product names use them. Rapid EOD and Quick Pay EOD are plan names. The name is not an approved drawdown type. Until the rule table says the drawdown type, write Not confirmed.
The pass and the payout
A profit target is the profit an evaluation requires before the account can pass. It is separate from the drawdown and from the payout split. See /glossary/profit-target.
A consistency rule limits how much of the profit can come from one day, or sets a similar payout condition. "None" means the firm published that it does not use one. See /glossary/consistency-rule. None and Not confirmed are different. None is a published fact. Not confirmed is a blank.
Minimum trading days are the days a firm requires before a pass or a payout. A published zero is not the same as an unconfirmed number. See /glossary/minimum-trading-days.
A profit split is the share of profit the trader keeps after a payout. The rest stays with the firm. A split that is not on an approved fact stays unconfirmed. See /glossary/profit-split. Lucid Trading's approved split is 90/10 (90% trader / 10% firm) on LucidFlex, LucidPro, LucidDaily, and LucidDirect. Futureify's approved split is 90/10 on the Flex and Direct rows that publish it. Tradeify, TradeDay, and My Funded Futures do not inherit either split. Theirs are Not confirmed.
Payout frequency is how often a funded account can request a payout. See /glossary/payout-frequency. A known split is not a known schedule.
Other published conditions
News trading (/glossary/news-trading), weekend holding (/glossary/weekend-holding), and max contracts (/glossary/max-contracts) count only when a published rule says so.
How a firm gets onto a glossary entry
The glossary lists a firm under a term only when a published rule matches. Open the term, then the firm, then the account. A 50K rule is not a 150K rule unless both rows are approved. A firm with no match is omitted. Omitted means we do not have the fact.
Not confirmed means missing, unpublished, or in conflict. Not applicable means the firm published that the field does not apply. The review methodology page is the check order. A note on a page is not a new check.
FAQ
FAQ
Can I use this page as a firm's rule list?
No. Use the firm page. This page defines the words.
Why are so many Lucid rules still Not confirmed if the split is approved?
The split is the approved fact. Drawdown, consistency, activation, and reset were not approved with it. We do not fill them from the split.
Does a plan named EOD use an end-of-day drawdown?
Not from the name. The drawdown type has to be an approved rule.
What is the difference between None and Not confirmed?
None means the firm published that the rule is not used. Not confirmed means we are not stating a value.
Where do I see which firms use a term?
On that term's glossary page. The list is the published matches, not a ranking.
Each entry defines one rule and lists the firms whose published facts use it. A firm is left off when that fact is not published.
- Trailing drawdown
A loss limit that can move up as the account reaches a new high. The account fails if equity or balance falls through that moving limit.
- Daily loss limit
The most an account can lose in one day before it fails or locks. A firm that publishes no daily loss is not the same as a firm whose limit is unconfirmed.
- End-of-day drawdown
A drawdown that is marked from the end-of-day balance rather than from the highest tick during the session.
- Static drawdown
A loss limit that stays at a fixed distance from the starting balance. It does not move when the account makes a new high.
- Profit split
The share of profit the trader keeps after a payout. The rest stays with the firm. A split that is not on an approved fact stays unconfirmed.
- Consistency rule
A limit on how much of the profit can come from one day, or a similar payout condition. "None" means the firm published that it does not use one.
- Profit target
The profit an evaluation requires before the account can pass. It is separate from the drawdown and from the payout split.
- Activation fee
A fee some firms charge after an evaluation is passed, before the funded account starts. It is not part of the evaluation price.
- Minimum trading days
The number of days a firm requires before a pass or a payout. A published zero is not the same as an unconfirmed number.
- Payout frequency
How often a funded account can request a payout, as the firm publishes it.
- News trading
Whether the firm allows holding or opening trades around scheduled news. Only a published rule counts.
- Weekend holding
Whether the firm allows positions to stay open over the weekend.
- Max contracts
The largest position size the firm publishes for that account.
- Evaluation fee
The price to start an evaluation. A reset or activation fee is a different charge.
- Reset fee
The price to restart a failed evaluation when the firm sells a reset. If the firm has not published a reset price, the fee stays unconfirmed.