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Practice with a free Phidias PropFirm paper trading demo before you buy.
This simulator replicates the trading conditions of the Phidias PropFirm $100,000 Regular evaluation. Before spending money on a real challenge, practice here to verify your strategy meets the 8% profit target while respecting the 5% maximum drawdown limit and the 3% daily loss cap.
Phidias PropFirm uses a balance-based drawdown calculation. Only closed trade losses count toward drawdown. Open positions with floating losses won't trigger the limit — but the daily loss rule still applies to equity.
Commission structure: Exchange + $0.50/side
These rules are often overlooked by traders. Practice with them in mind to avoid surprises on your real challenge.