Affiliate disclosure: PropFirmElite may earn a commission if you buy through our links. That does not change our research. We summarize published rules, pricing, and payout policy — not hype.
Verification status: PENDING. Rules and payout mechanics below were read from Phidias's public rules, 2.0, and accounts pages on 2026-08-29. Treat this as a structured research pass, not a VERIFIED catalog stamp. Confirm live objectives on your dashboard before you buy. Firm profile: Phidias.
Phidias is a futures prop firm whose 2.0 relaunch (live since late April 2026) collapsed the old Static / Fundamental / Swing labels into three families:
Express to Live (E2L) — static drawdown that never trails, zero minimum trading days, first CASH payout converts the account to LIVE with Dorman Trading
Fundamental — classic intraday EOD trailing drawdown, fixed 80/20 split
Premium — overnight and weekend holds allowed, payouts every 5 funded days, progressive split from 75% to 100%
If you last looked at Phidias and still see "Static" or "Swing" on a third-party table, that lineup is gone. This review covers what the official rules page actually publishes today.
E2L replaces the old 25K Static product and now comes in four sizes. Official rules (2026-08-29):
Size
Profit target
Static drawdown
Liquidation
Max e-mini / micro
Bonus payout (80/20)
LIVE credit
$25K
$1,500
$500
$24,500
2 / 20
$1,000
$500
$50K
$2,500
$650
$49,350
5 / 50
$2,000
$1,000
$100K
$3,500
$800
$99,200
7 / 70
$3,000
$1,500
$150K
$4,500
$1,000
$149,000
9 / 90
$4,500
$2,000
Shared E2L rules: no consistency, no daily loss limit, no minimum trading days, news trading allowed, overnight not permitted, max 5 E2L accounts per trader (all sizes combined).
How the LIVE conversion actually works, per the rules page:
Pass the evaluation by hitting the profit target without touching the static floor.
The account becomes a funded CASH account with the same rules.
Hit the profit target again on CASH.
Click Switch to Live. The fixed bonus is credited to the Phidias Wallet (subject to 80/20), the LIVE credit is applied, and CASH converts to a LIVE account cleared through Dorman Trading.
LIVE accounts sourced from E2L keep an 80/20 split, allow daily payouts with a $500 minimum, and still do not allow overnight unless separately agreed. Max LIVE contracts from E2L: 2 / 3 / 4 / 5 lots by original size. Monthly LIVE fee is listed as $122/month, waived.
25K E2L list price: $277 one-time on the official configurator (activation $0 on OTP; monthly path lists a $83 lifetime activation). Homepage checkout on 2026-08-29 also showed $55 with code PHIDIAS80. Confirm the discounted line item at checkout. PropFirmElite is not wiring that code as an affiliate offer. 100K E2L OTP showed $900 on the official 2.0 configurator the same day. Other E2L fees: PENDING (configurator-only).
Who E2L is for: traders who want a fixed floor and a published first-payout LIVE conversion. Who it is not for: anyone who needs overnight holds, or who cannot survive a $500 static hole on the 25K.
Fundamental is the "classic prop" lane. Official grid:
Size
Eval target
EOD trailing DD
Max e-mini / micro
Activation (monthly path)
Funded min daily PnL
Payout cap / cycle
Withdrawal threshold
$50K
$4,000
$2,500
10 / 100
$149
$150
$2,000
$52,600
$100K
$6,000
$3,000
14 / 140
$149
$200
$2,500
$103,700
$150K
$9,000
$4,500
17 / 170
$169
$250
$2,750
$154,500
Shared Fundamental rules:
3 minimum trading days on evaluation, 10 on funded CASH
No eval consistency; 30% consistency on CASH (no single day > 30% of total profit)
No daily loss limit
Overnight / weekend not permitted (flat by session end, listed as 10:00 PM UTC+2 / 9:59 PM UTC close-all)
Profit split 80/20
Funded EOD floor locks at $50,100 / $100,100 / $150,100
After withdrawal, balance cannot fall below those same $...100 floors
Minimum withdrawal $500 via RISEWORKS.io (Phidias Wallet)
Eval fees for Fundamental: PENDING (official configurator). OTP still means $0 activation; the $149 / $169 figures above are the monthly-path lifetime activation fees from the rules page.
E2L: automatic Switch to Live after the first CASH target. E2L payouts do not count toward the Fundamental/Premium LIVE thresholds.
Fundamental and Premium: the rules page (2026-08-29) says a trader may become eligible after 5 successful payouts or $100,000 in cumulative profits across all accounts. Meeting the number does not guarantee conversion. The old 3 payouts / $75,000 threshold is explicitly deprecated. Phidias initiates the review; you do not request it.
You can only have one LIVE account. Caps: 5 CASH Premium + 5 CASH Fundamental + 5 E2L. A 150K Fundamental or Premium CASH account counts as two slots; E2L 150K counts as one.
Official 2.0 platform list: Tradovate, NinjaTrader, TradingView (routed via Tradovate), Rithmic, DeepCharts.
News trading is authorized on all account types. Fully automated / HFT robots are not permitted; semi-automated tools are allowed if you monitor and adjust. Copy trading is allowed inside the account caps.
One-time payment: evaluation + CASH, no activation fee, no monthly rebill on that account.
Monthly: lower upfront, then a lifetime activation fee on pass ($83 on E2L 25K; $149 or $169 on larger sizes).
Homepage on 2026-08-29 showed code PHIDIAS80 (80% off the 25K E2L OTP example). The 2.0 marketing page still mentions launch-week TRADOVATE, which may be stale. Confirm the live checkout code. PropFirmElite is not attaching either code as a tracked affiliate offer in this post.
Do not use March 2026 "Static / Swing" price tables from Phidias's own older education pages. Those names are retired.
For: futures traders who want static risk and a published first-payout LIVE conversion (E2L), or who actually hold overnight and will pay Premium complexity for it. OTP buyers who hate monthly + activation stacks.
Not for: traders who need a skip-evaluation SKU; traders who want overnight holds on the cheap 25K; traders who treat "zero denials" marketing as audited history; anyone who cannot re-read funded withdrawal thresholds and payout caps before requesting money.
Is Phidias instant funding?
No. Express to Live is a one-step evaluation with a second CASH target before Switch to Live. It is not a skip-eval SKU.
Can I hold overnight on Express to Live?
No. Official rules: overnight and over-week are not allowed on E2L or Fundamental. Premium is the exception.
What is the profit split?
E2L bonus payout and Fundamental CASH: 80/20. Premium CASH climbs 75 → 100% from the 5th payout. LIVE from E2L stays 80/20.
Is the LIVE path guaranteed on Fundamental or Premium?
No. Eligibility at 5 payouts or $100K cumulative does not guarantee conversion. The risk team decides.
Does Phidias deny payouts?
The firm states zero denials in its public history. That is their claim. We mark it PENDING and do not treat marketing as an audit.
What promo code works right now?
As of 2026-08-29 the accounts page showed PHIDIAS80. Confirm at checkout. Do not assume launch-week TRADOVATE still works.
Phidias 2.0 is a clearer catalog than the old Static / Swing naming, and E2L is one of the few on-roster products with a published, automatic first-payout LIVE conversion. The failure mode is buying the 25K for the $55 headline, then discovering a $500 static floor, no overnight, and a second CASH target before any LIVE button.
Premium is the honest swing SKU. Fundamental is the honest day-trade SKU. E2L is the honest "I want LIVE, I will accept a tight static hole" SKU.
Read the rules page for the family you are actually buying. Then buy only if that family matches how you already trade.
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