What Is the Prop Traders Program?
The Prop Traders Program is a skill-based evaluation designed for crypto traders.
Participants who successfully pass the challenge can receive up to 200,000 USDT in trading capital, enjoy 80% profit sharing, and receive a full refund of the registration fee.
How to Become a Prop Trader?
Standard Mode vs. Hard Mode: What’s the Difference?
In the Prop Traders Program, we’ve designed both Standard Mode and Hard Mode to cater to the needs and skill levels of different traders. These modes offer varying levels of challenges in terms of profit targets and risk management.
Currently, ten funding options are available for users to choose from:
Based on the funding package you select, the two modes come with distinct profit targets and drawdown limits. The table below outlines the differences between the two modes:
Note: Parameters may be adjusted. The final criteria are based on the settings displayed on the Prop Traders Program registration page.
Profit Targets by Mode
Standard Mode:
- Phase 1 Goal: Achieve an 10% profit (e.g., with a $5,000 USDT account, earn $500 USDT).
- Phase 2 Goal: Accumulate a 5% profit (e.g., with a $5,000 USDT account, earn $250 USDT).
Hard Mode:
- Phase 1 Goal: Achieve a 10% profit (e.g., with a $10,000 USDT account, earn $1,000 USDT).
- Phase 2 Goal: Accumulate a 10% profit (e.g., with a $10,000 USDT account, earn $1,050 USDT).
Risk Management Standards
Standard Mode
- Daily Drawdown Limit: Losses must not exceed 5% of the initial capital (e.g., for a $5,000 USDT account, losses must not exceed $250 USDT per day).
- Maximum Drawdown Limit: Losses must not exceed 10% of the initial capital (e.g., for a $5,000 USDT account, total losses must not exceed $500 USDT).
Hard Mode
- Daily Drawdown Limit: Losses must not exceed 4% of the initial capital (e.g., for a $10,000 USDT account, losses must not exceed $400 USDT per day).
- Maximum Drawdown Limit: Losses must not exceed 6% of the initial capital (e.g., for a $10,000 USDT account, total losses must not exceed $600 USDT).
What Are “Prop Funds”?
The Prop Fund is a dedicated pool of trading capital provided by Pionex to traders who successfully pass the Prop Traders Program assessment. This capital is used for live market trading, allowing traders to focus on executing strategies without the pressure of using their own funds.
Before receiving the Prop Fund, traders must complete KYC Level 2 and pass both stages of the assessment.
Once issued, the Prop Fund will be subject to the same daily and maximum drawdown limits as during the assessment phase. As long as the drawdown thresholds are not breached, traders are free to manage the funds.
Additionally, the Prop Fund will be revoked under the following conditions:
No trading activity for more than 30 days after receiving the Prop Fund
Applying for Prop Funds using multiple accounts
Simulated Trading Conditions
During the Prop Traders Program challenge, participants can use 5x leverage, and place both market and limit orders. All price feeds and calculations are consistent with the live trading environment, and overnight positions are allowed.
In the program, limit orders are executed at market price once the trigger price is reached. Therefore, both market and limit orders are charged a 0.05% fee, regardless of the trader’s VIP level.
Supported Trading Pairs
Currently, the public testing phase, traders can access the following four cryptocurrencies:
BTC、ETH、DOGE、SOL、BNB、ADA、XRP、PEPE。
Upon successful completion of the challenge, traders will gain access to over 20 cryptocurrencies for their trading activities.
Trading Time Limits
For users who join the program, there are currently no time restrictions for completing the challenge. Participants can take their time to prepare and execute trades at their own pace.
The above challenge modes and conditions are subject to slight adjustments over time. Please refer to the registration page for the most accurate information.
How Much Profit Share Can I Earn?
After successfully passing the assessment, you will be granted Prop Funds corresponding to your chosen challenge difficulty and registration fee. All profits generated from trading with these Prop Funds are subject to an 80% profit share for the trader!
Profit Withdrawal & Refund Policy
Additionally, upon your first successful withdrawal after passing the assessment, your registration fee will be fully refunded.
Each Prop Traders Program account is subject to the following withdrawal rules:
- Minimum withdrawal amount: 100 USDT
- Maximum withdrawal amount: equal to your Prop Fund allocation
For example:
If you pass the assessment and receive a 5,000 USDT Prop Fund, your account can withdraw up to 5,000 USDT in total.
How To Start The Next Phase of The Assessment?
Once you meet the requirements of the previous phase, you can immediately start the next phase. After completing the second phase, the Prop Fund allocation will be issued within approximately 3 to 7 working days.
When Is the Daily Quota Reset?
Data Refresh Rate: The assessment dashboard updates every 5 minutes.
Daily Profit and Loss Reset: The calculations reset at 00:00 UTC+8. At this time, the previously realized profits and losses will be reset to zero, and the daily loss quota will be recalculated for the next day. See the example below for more details.
Overnight Floating Loss Calculation
Floating loss = Unrealized PnL of open positions + Realized PnL of closed positions for the day.
If you carry a losing position overnight, the daily PnL will not reset the next day.
For example:
- If a trade shows a floating loss of 200 USDT at the end of the day, this unrealized loss will carry over to the next day. At 00:01, the daily loss calculation will still show 200 USDT, continuing from the previous day.
In a situation where you have both profits and losses:
For example:
- If you hold two positions overnight—one with a floating profit of 20 USDT and the other with a floating loss of 50 USDT—then at 00:01 the next day, the daily loss will be shown as 30 USDT.
Another scenario: If you close a position with a profit of 500 USDT today but hold another position with a 500 USDT loss overnight, your daily loss will show 0 USDT today. However, at 00:01 the next day, the daily loss will be reset to -500 USDT, as yesterday’s profit will be cleared.
Important Note:
All orders in the Prop Traders Program are executed at market price, which may result in slippage. In extreme market conditions, slippage may exceed 1%.
Pionex encourages traders to manage risk cautiously and take slippage into account, avoiding setting stop-loss orders at the maximum allowable loss amount.
How To Withdrawal Profits
FAQ
Q: I reached the profit target. Why can’t I proceed to the next stage?
A: Besides reaching the profit target, you must meet the minimum trading days requirement of five trading days with closed trades. These five days don’t need to be consecutive.
Q: How much time do I have to complete the assessment?
A: There’s no time limit for completing the assessment.
Q: If I pass both stages and receive Prop Funds, do I need to meet a minimum trade count each month?
A: As long as no stop-loss violations occur, traders may continue using the Prop Fund to trade.
However, if the account does not reach at least 100 USDT in trading volume within a 30-day period, the Prop Fund will be revoked.
Q: Will there be higher allocation options for Prop Funds in the future?
A: Currently, ten funding packages are available, with a maximum allocation of 200,000 USDT. Higher funding options will be introduced in the future.
Q: How is a “trading day” defined?
A: Profit and loss calculations reset at 00:00 UTC+8. At this time, daily maximum profit and loss figures are reset to zero.
Q: What’s the maximum leverage available?
A: Currently, leverage is capped at 5x.
Q: Can I place trades using cross-margin mode?
A: No, only multi-mode is supported.
Q: Do I need to close all positions within the same day?
A: No, you can hold positions overnight.
Q: Are there any restrictions on trading during news events?
A: No restrictions currently.
Q: After passing the assessment, how can I withdraw the 5,000 USDT?
A: The 5,000 USDT allocated is trading capital. Profits generated using this capital can be withdrawn, with 80% profit sharing, but the 5,000 USDT itself cannot be withdrawn directly.
Q: Are limit orders supported?
Limit orders are currently supported in both the assessment and funded trading phases.
Q: How often is the assessment dashboard updated?
A: Data refreshes approximately every 5 minutes.
Q: Can Prop Funds be used to trade grid strategies?
A: Currently, only perpetual trading is supported.
Q: Will downloading the test version overwrite my original app?
A: No, it won’t affect the app’s normal functionality.
Q: How is the daily loss calculated?
A: If trades with unrealized losses are carried overnight, the daily floating loss is carried over to the next day.
For example: If you have an unrealized loss of 200 USDT today, at 00:01 the next day, the loss will still show as -200 USDT and continue to be calculated.
Q: What cryptocurrencies can I trade?
A: Beta Phase: BTC, ETH, SOL, DOGE, BNB, ADA, XRP, PEPE.
Official Phase: 24 mainstream pairs will be supported.
Q: How do I join the Prop Traders Program?
A: Choose your challenge level and pay the registration fee. After payment, you can begin trading according to the rules. For details, refer to the tutorial above.
Q: Can the registration fee be refunded?
A: Yes, once you successfully pass the challenge and withdraw your first profit, the registration fee will also be refunded. If the challenge is unsuccessful, the fee is non-refundable.
Q: What challenge levels are available?
A: Two levels: Standard and Hard. Each level has different funding allocations, fees, and profit targets. Choose according to your capabilities.
Q: Can I participate in multiple challenges simultaneously?
A: No, each participant can only use one account and select one level at a time. Multiple accounts are strictly prohibited and will result in disqualification.
Q: Can I restart the challenge if I fail?
A: Yes, you can re-register and start a new challenge.
Q: What happens if I exceed the maximum account or daily loss limit?
A: Your current challenge will be terminated immediately, and the Prop Funds will be reclaimed. It is strongly advised to manage risks prudently.
Q: Are losses calculated based on unrealized or realized losses?
A: Losses are calculated based on unrealized losses. If unrealized losses exceed the pre-set limit, the position will be forcibly closed, and the Prop Funds will be reclaimed.
Q: How are loss thresholds calculated if profits haven’t been withdrawn?
A: Daily Loss Threshold: Daily loss limit + realized profits for the day.
Account Loss Threshold: Account loss limit + all unwithdrawn profits.
For example:
- Prop Fund: 10,000 USDT.
- Daily Max Loss: 500 USDT.
- Account Max Loss: 1,000 USDT.
If the trader realizes a 400 USDT loss today, the floating loss must be kept under 100 USDT for the rest of the day.
If the trader has an unwithdrawn profit of 100 USDT, the daily loss threshold increases to 600 USDT, and the account loss threshold increases to 1,100 USDT.
Q: How is profit sharing determined?
A: The default profit-sharing ratio is 80%, but specific details will depend on the agreement after passing the challenge.
Q: How and when can I withdraw profits?
A: Profits can be withdrawn every 14 days, with a minimum withdrawal amount of 100 USDT per request.
Q: Can I withdraw profits during the challenge phase?
A: No, profits generated during the challenge phase cannot be withdrawn.
Q: When can the registration fee be withdrawn?
A: The fee will be refunded along with your first profit withdrawal after passing the challenge.
Q: What happens if I trigger a loss threshold before withdrawing profits?
A: If the threshold is triggered and the Prop Funds are reclaimed, the registration fee will not be refunded.
Q: Will unwithdrawn profits be deducted for future losses?
A: Yes, if future trades incur losses, they will be deducted from unwithdrawn profits.
Q: If I hit the daily loss limit but still have profits, can I withdraw them?
A: Yes. For example: If your account grows from 5,000 USDT to 7,000 USDT and then hits a 250 USDT daily loss limit, your remaining balance will be 6,750 USDT. After deducting the initial capital (5,000 USDT), you can withdraw 1,750 USDT.