Challenge Comparison Tool

Select up to 3 firms to compare their challenges, rules, and pricing side by side.

CypherTicks CypherTicks
Phoenix Trader Funding Phoenix Trader Funding
CypherTicks 5.0 Get Started
Phoenix Trader Funding 6.8 Get Started
Overview
Asset Type Futures Futures
Country United Kingdom France
Established Jan 2025 Aug 2023
Technology White-Label White-Label
Platforms Volumetrica, DeepCharts Trading View, NinjaTrader, Tradovate, Quantower, Atas, dxFeed, Volumetrica, Phoenix Instant Logger, Rithmic, DeepCharts
Trading Rules
Profit Split 90% Best 90%
Daily Drawdown 2% of starting balance (Daily Loss Limit, Evaluation only; removed on funded accounts) No standard daily loss limit. Classic and Spark use trailing EOD drawdown from highest balance. Merit accounts apply a 25% dynamic daily drawdown of starting balance.
Payout Frequency On demand (no fixed payout date, minimum 5 trading days)
CypherOne funded: 5 winning days in the cycle plus the 40% consistency rule, then request any time. CypherInstant: every 5 trading days minimum once the profit goal and 20% consistency rule are met. 		Bi-Weekly
Direct Path to Funded ✗ No ✓ Yes
Reviews & Reputation
Review Count 0 reviews 0 reviews
Avg. Rating No ratings yet No ratings yet
Pros & Cons
Main Benefits
  • 90/10 profit split on all funded accounts; no activation fee on CypherOne; news trading fully allowed with no blackout windows; copy trading allowed via DeepCharts; no minimum trading days and no time limit on the CypherOne evaluation; payouts processed within 24 business hours or less via Rise or direct crypto; straight-to-funded CypherInstant option with no evaluation.
  • Three funded account programs: Classic (subscription-based, 90% profit split), Spark (lower-cost subscription with $29 one-time activation, all strategies allowed), and Merit (one-time $2K challenge with 50/80 profit split structure). No daily drawdown limit on Classic and Spark programs. Multiple platform choices including NinjaTrader, Tradovate, Rithmic, TradingView, Odin, Quantower, Atas, and Volumetrica. Bi-weekly payouts via PayPal and Payoneer.
Main Drawbacks
  • CypherOne is a recurring monthly subscription; if it lapses the evaluation account is closed and all progress and profit are lost. Profit from trades closed under 10 ticks or under 60 seconds is deducted while losses always count. Bots, AI and fully automated systems are prohibited. No overnight holds: all positions are liquidated at 3:15 PM CST. A 10-day inactivity rule closes accounts. CypherInstant accounts cannot be reset and carry a stricter 20% consistency rule. All purchases are final.
  • Classic and Spark programs require ongoing monthly subscription fees that continue while subscribed. Spark accounts require a $29 one-time activation fee at signup. Trailing EOD drawdown on Classic and Spark tracks from highest account balance. Merit program limited to $2K account size with EdgeClear broker only.
Offers & Promo Codes
Active Offers No offers
30% off every challenge but Merit Accounts PFMAP
10% off Spark accounts. Verified live on phoenixtraderfunding.com homepage 2026-06-07 ("10% OFF on Spark Accounts, Starting at $35! ... Use This Code At Checkout JUNE"). JUNE
30% off Classic accounts. Verified live on phoenixtraderfunding.com 2026-06-24 ("Odin got upgraded! Enjoy 30% OFF Classic Accounts! ... Use This Code At Checkout ODIN"). ODIN

Challenge Details

CypherTicks Challenges

6 challenges
Price Account Size Step Profit Target Max Daily Loss Max Drawdown Profit Split Activation Fee
$69
per month (subscription) 		$25K 1 Step P1: $1,500
 P1: $500
2% of starting balance, Evaluation only; removed once funded. Resets at End of Day.
P1: $1,000 (4% EOD trailing balance based)
 90% None
$109
per month (subscription) 		$50K 1 Step P1: $3,000
 P1: $1,000
2% of starting balance, Evaluation only; removed once funded. Resets at End of Day.
P1: $2,000 (4% EOD trailing balance based)
 90% None
$149
one-time fee 		$10K Instant P1: $750 (payout profit goal)
 P1: $200
2% of starting balance, resets each new trading day. Hitting the DLL suspends trading for the rest of the day and is not a failure by itself.
P1: $400 (4% EOD trailing)
 90% None
$229
per month (subscription) 		$100K 1 Step P1: $6,000
 P1: $2,000
2% of starting balance, Evaluation only; removed once funded. Resets at End of Day.
P1: $4,000 (4% EOD trailing balance based)
 90% None
$249
one-time fee 		$25K Instant P1: $1,500 (payout profit goal)
 P1: $500
2% of starting balance, resets each new trading day. Hitting the DLL suspends trading for the rest of the day and is not a failure by itself.
P1: $1,000 (4% EOD trailing)
 90% None
$349
one-time fee 		$50K Instant P1: $3,000 (payout profit goal)
 P1: $1,000
2% of starting balance, resets each new trading day. Hitting the DLL suspends trading for the rest of the day and is not a failure by itself.
P1: $2,000 (4% EOD trailing)
 90% None

Phoenix Trader Funding Challenges

6 challenges
Price Account Size Step Profit Target Max Daily Loss Max Drawdown Profit Split Activation Fee
$39
monthly (+ $29 one-time activation fee) 		$25K Subscription P1: -
 P1: -
P1: $1,000 trailing drawdown (EOD)
 90% None
$69
monthly (+ $29 one-time activation fee) 		$50K Subscription P1: -
 P1: -
P1: $2,000 trailing drawdown (EOD)
 90% None
$69 $2K 1 Step P1: -
 P1: $500
25% dynamic daily drawdown of starting balance
P1: $2,000 static
 50% None
$89
monthly 		$25K Subscription P1: $1,500
 P1: -
P1: $1,500 trailing drawdown (EOD)
 90% None
$128
monthly 		$50K Subscription P1: $3,000
 P1: -
P1: $2,000 trailing drawdown (EOD)
 90% None
$269
monthly 		$100K Subscription P1: $6,000
 P1: -
P1: $3,000 trailing drawdown (EOD)
 90% None
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