Zeno Traders Review: Plans, Rules, and How It Compares

Zeno Traders

Zeno Traders is a crypto proprietary trading firm operated by Zeno Traders FZ LLC, a company registered in the United Arab Emirates and trading from Dubai. It sells one-time-fee simulated evaluations on two tracks, One-Step and Two-Step, across six account sizes from $5,000 to $200,000, with fees starting at $69. Funded accounts pay an 80% profit split with daily withdrawals, and the firm publishes its complete rulebook as a single versioned document, currently Rulebook v2.0.

The firm names no regulator. Its Terms state that Zeno Traders is not a broker, not an investment advisor and not a fund manager, and that all trading is simulated. Its TrustPilot profile carries a 3.7 rating from 10 reviews, which is a small sample to draw conclusions from.

Plans and pricing

Zeno sells the same six account sizes on both evaluation tracks, and the plan names are shared across them. The One-Step track charges more for the shorter route to funding, and the Two-Step track charges less across every size. Fees are one-time and are non-refundable once the account is activated. Prices are per evaluation attempt, and a breached account is not refunded, though a new evaluation can be purchased at any time. Payment is taken in USDT or by UPI.

The two tracks differ in more than price. The One-Step evaluation asks for a 10% profit target inside a 4% daily drawdown and an 8% maximum drawdown, and caps leverage at 1:5. The Two-Step evaluation splits the work across two stages: Step 1 asks for 8% inside a 5% daily drawdown and a 10% maximum drawdown, and Step 2 asks for 5% inside a 5% daily drawdown and an 8% maximum drawdown. Two-Step accounts trade at up to 1:10 leverage. Step 2 restarts at the initial balance with a full risk envelope, so profit made clearing Step 1 is not carried forward and neither is drawdown.

Rules summary

Two limits run at every moment on every account, and both are measured on equity, which includes the floating profit and loss of open positions. The daily drawdown is recalculated at 00:00 UTC from that day's start-of-day balance. The maximum drawdown is static: it is set once from the initial balance and never trails the high-water mark, so a $100,000 One-Step account keeps its floor at $92,000 however high the account grows. There is no grace period on either limit, and a momentary touch is a breach.

A per-trade risk cap sits alongside the two drawdown limits. Positions on one instrument in one direction may not lose more than 3% between them during an evaluation, tightening to 2% on a funded account. The cap is checked live while positions are still open, it counts partial closes, and positions on the same instrument in the same direction share a single cap. It is the one limit that gets stricter once the trader is on firm capital.

In place of the usual minimum-trading-days counter, Zeno requires profitable days. A UTC day counts as profitable when realized net profit that day reaches at least 0.5% of the initial balance, which is $500 on a $100,000 account. The One-Step track requires 7 profitable days; each Two-Step stage requires 4. Days do not need to be consecutive, and a day spent flat costs nothing. There is no time limit on any stage.

There is no consistency rule on any plan, funded included, and the firm states there is no cap on how much of total profit may come from a single day. A stop-loss is never mandatory. News trading is permitted with no news-window restriction, weekend and overnight holding are allowed with no forced Friday close, expert advisors are allowed, and intra-account hedging is permitted. Restricted practices include cross-account and group hedging, martingale and grid strategies, copy trading, and high-frequency activity, which the firm defines as sub-60-second trades or more than 200 trades in a rolling 7 days. Maximum open positions are capped at 20 on every account type, and the firm requires one account per person and prohibits VPN or location masking.

Zeno lists 73 USDT-margined crypto perpetuals plus gold, silver and crude oil. The taker fee is 0.04% of notional on every market except gold, which trades at 0.007%. Fees are charged on entry and on exit, and both legs count against every objective and every limit. The firm publishes no monthly fees, inactivity fees, data fees or withdrawal fees.

Payouts

Funded traders keep 80% of profit and may request a payout on any day, with no waiting period and one active request at a time. The minimum request is $10 and the maximum per request is $1,000. Payouts are sent in USDT on BNB Smart Chain to a bound payout wallet, and an address already bound to a different trader is refused. All positions must be closed at the time of the request, and identity verification must be complete before a funded account is activated and before a request is accepted.

Pros and cons

What works in the firm's favour:

• The maximum drawdown is static and measured from the initial balance, so it never trails a growing account.
• No consistency rule applies on any plan, funded included, and there is no time limit on any stage.
• Payouts can be requested on any day with a $10 minimum and no waiting period.

What to weigh against it:

• The maximum per payout request is $1,000 gross, which pays $800 net after the split.
• Payouts are published in USDT on BNB Smart Chain only, to a bound wallet, with no fiat route named.
• No regulator is named on any published page, and the TrustPilot rating of 3.7 rests on 10 reviews.

How it compares

Zeno sits among crypto firms with comparable entry pricing. The table below draws on data held for each firm on PropFirmMap. Entry price is the lowest evaluation fee recorded for that firm.

On price, Zeno's $69 entry is the highest of the four, and Cointracts opens at $24.90. On profit split, Zeno's flat 80% has no published scaling path, while HyroTrader, Cointracts and Fondeo each publish a route to 90%. Where Zeno separates is the withdrawal threshold: at $10 it is the lowest of the four, against $100 at both HyroTrader and Fondeo. Traders who want to withdraw small amounts frequently will find that threshold relevant; traders aiming at larger single withdrawals should weigh the $1,000 per-request cap instead.

On risk mechanics, Zeno and HyroTrader both apply a static challenge drawdown, which does not tighten as an account grows. Fondeo's trailing daily drawdown measures from the day's highest equity point, a stricter basis on a day that gives back an intraday gain. Zeno's 4% One-Step daily drawdown matches HyroTrader's 4%, and Cointracts publishes the same 4% on 1-Step and 5% on 2-Step split that Zeno uses.

Verdict

Zeno Traders publishes an unusually complete rulebook: a single versioned document that states its objectives, both drawdown limits, the per-trade cap, the payout mechanics and the enforcement ladder, with worked dollar examples that recalculate against the selected plan. Every figure in this review was verified against that document, and all twelve fees matched the values held on PropFirmMap exactly.

The structure suits traders who want a static drawdown floor, no consistency rule and no time limit, and who value a low withdrawal threshold over a high one-off payout. It suits traders less well if they need fiat payouts, a published route above an 80% split, or single withdrawals above $800 net. The 3% evaluation and 2% funded per-trade cap, measured live across open positions on the same instrument and direction, is the rule most likely to catch a trader who scales into a single idea, and it deserves reading in full before purchase.

Sources: Zeno Traders Rulebook v2.0 at zenotraders.com/trading-rules and the firm's homepage at zenotraders.com, both read on 9 September 2026.