PHIDIAS PROPFIRM LIMITED — General Terms and Conditions
Version in force as of 18 May 2026
Preamble
These General Terms and Conditions (the "Terms") govern access to the services and use of the platform operated by PHIDIAS PROPFIRM LIMITED, a company incorporated under the laws of Gibraltar (the "Company" or "Phidias"). By clicking "Accept" or by using the services offered, the User acknowledges having read, understood and accepted these Terms in their entirety, which form a legally binding agreement between the User and the Company.
For LIVE Accounts, these Terms are supplemented by the LIVE Account Agreement, which prevails in case of inconsistency on the subjects it specifically addresses.
Article 1 — Definitions
In these Terms, the following capitalized terms shall have the meanings set out below:
- "Company" or "Phidias" means PHIDIAS PROPFIRM LIMITED, a company registered in Gibraltar, together with its related entities, agents, affiliates, employees, contractors and officers.
- "User" or "Trader" means any natural person of legal age who registers, accesses the services or subscribes to a Company program.
- "Evaluation" means the simulated evaluation program designed to assess a User's trading skills.
- "CASH Account" means the simulated trading account allocated to a User who has successfully completed the Evaluation, operating in a simulation environment without the use of real funds.
- "LIVE Account" means a trading account allocated subsequently, governed by the LIVE Account Agreement (including the ELITE LIVE and MASTER LIVE sub-categories).
- "Confirmo" means Confirmo Limited, a Crypto-Asset Service Provider (CASP) authorised in Ireland under MiCA, the Company's partner for processing crypto-asset payments.
- "MiCA" means Regulation (EU) 2023/1114 on markets in crypto-assets.
- "GDPR" means Regulation (EU) 2016/679 on the protection of natural persons with regard to the processing of personal data.
Article 2 — Acceptance and Capacity
2.1 Acceptance
Use of the Company's services constitutes full and unreserved acceptance of these Terms. The User expressly acknowledges having read, understood and accepted in full the Phidias Propfirm rules, together with any contract, schedule, FAQ, policy, code of conduct and any other document made available by the Company governing the entirety of the applicable rules. The User may not invoke ignorance of these documents to be released from any obligation.
2.2 Capacity
The User certifies being at least 18 years of age, or having reached the age of legal majority in the User's country of residence if higher, and having full legal capacity to contract. The Company reserves the right to verify the User's identity and capacity at any time.
2.3 Account caps and exclusivity
The maximum number of CASH Accounts per User is strictly capped at five (5) Fundamental accounts, five (5) Premium accounts and five (5) Express-to-LIVE accounts, for a total maximum of fifteen (15) concurrent CASH Accounts.
This cap is assessed against a single identified person, taken individually or cumulatively, by reference to:
- the personal name of the natural person or the corporate denomination of the legal entity;
- the Internet connection used (IP address, network);
- the tax household to which the User belongs.
The User may hold only one primary identifier. The User may not be the owner of another competing funded structure, nor a direct partner or employee of such a structure.
Article 3 — Services Offered
3.1 Evaluation program
The Company offers an Evaluation program intended to assess the User's ability to comply with a set of risk management rules in a simulated market environment. The Evaluation is demanding and is not recommended for persons with little or no trading experience.
3.2 CASH Account
Upon successful completion of the Evaluation, the User is allocated a CASH Account in a simulation environment. Simulated profits earned entitle the User to compensation paid by the Company, calculated according to the rules of the subscribed program. The User is neither a holder nor an owner of a real funded account at this stage: the User acts as an independent contractor.
3.3 LIVE Account
Access to a LIVE Account is governed by the LIVE Account Agreement, which defines the account features, quantitative parameters, withdrawal conditions, rules applicable to the Phidias Wallet, to the RISEWORKS.io payment platform, and to the profit-sharing scheme on an 80/20 basis in favour of the Trader.
3.4 Markets, instruments and data feeds
Users trade futures contracts listed on the CME, COMEX, NYMEX, CBOT and EUREX exchanges. The EUREX data feed is offered as an optional add-on and is available on the Phidias Propfirm platform subject to a complementary subscription.
Article 4 — Billing and Payment Methods
4.1 Billing cycle and renewal
Billing begins on the day of registration and automatically renews every 30 days unless manually cancelled by the User via the dashboard before the renewal date. Cycle dates may vary by plus or minus 3 days from one month to the next.
If, at the time of renewal, an Account is in a failed state (in particular following a drawdown breach or non-compliance with the Evaluation rules), the renewal triggers a full reset of the Account, with the starting parameters and balance of a newly-created account. The User then recovers the initial balances foreseen for the subscribed program, with no carry-over of history. The renewal of an Account in good standing (not failed) does not, however, modify the existing balance.
4.2 Refund policy
The Company's refund policy is the strictest possible: no refund, whether partial or total, will be granted under any circumstances whatsoever.
All products and services are delivered upon order. Market data feeds are paid by the Company to the relevant providers on the very day the Account is created, which makes any restitution impossible. Consequently, no refund, whether partial or total, may be granted after subscription, including in case of non-use of the services by the User.
Any cancellation, whether accidental or intentional, is final and irrevocable. No recreation or reactivation of a cancelled Account is possible, under any circumstances. A User wishing to access the services again must open a new Account at the pricing conditions then in force.
The User expressly waives any right to challenge correctly executed charges. Any unjustified chargeback attempt may be transferred to debt collection, with the User bearing the collection fees and attorney costs.
4.3 Standard payment methods
Payments may be made by credit card or by other electronic means made available on the website. All prices are displayed excluding taxes, with applicable taxes calculated and shown at the time of payment.
4.4 Crypto-asset payments via Confirmo
The Company accepts crypto-asset payments for the subscription to its services. The processing of such payments is entirely entrusted to Confirmo Limited, a Crypto-Asset Service Provider (CASP) authorised in Ireland by the Central Bank of Ireland under the MiCA regulation (authorisation reference C570624). Confirmo applies its own rules with respect to validity windows, exchange rates, network fees, AML and Travel Rule controls, as published in its documentation.
Users opting for this payment method acknowledge having reviewed Confirmo's public documentation and accept the conditions, fees and specific risks that apply, in particular the irreversibility of blockchain transfers and price volatility.
The general no-refund rule set out in article 4.2 fully applies to payments made in crypto-assets. Phidias Propfirm does not grant refunds of any kind. For information only, in the hypothetical scenario — which shall not occur under normal contractual performance — where a refund were to be ordered by a mandatory decision (authority, court), such refund would be made exclusively in fiat currency, and in no event in crypto-assets.
4.5 Market data fees
Fees relating to additional market data, enhanced market depth or additional data feeds (notably EUREX) are billed on a calendar-month basis, regardless of the initial subscription date. The renewal of these options must be made manually each month.
4.6 Professional data fees (LIVE Accounts)
Any User operating a LIVE Account may be classified as a "professional trader" by the exchanges or data feed providers. In such case, additional professional data fees mandatorily apply.
These fees are deducted directly from the User's trading account at each monthly due date. The trading account balance can under no circumstances become negative: if, on the due date, the funds available on the trading account are insufficient to cover the professional fees, the Company will settle the fees directly with the provider, and the User's Account will be closed for insufficient assets without any amount being claimed from the User. Such closure is final and entails the loss of any unwithdrawn profits, subject to the rules of the LIVE Account Agreement.
Article 5 — Renewal, Reset and Termination
5.1 Automatic renewal
Unless manually cancelled by the User, the subscription is automatically renewed every 30 days. The renewal of an Account in good standing does not modify the existing balance; the renewal of a failed Account triggers the full reset provided for in article 4.1.
5.2 Reset
Reset fees are not automatically renewable and do not modify the renewal date of the main subscription. In accordance with the no-refund policy set out in article 4.2, no reset, add-on or renewal may give rise to any refund, for any reason whatsoever.
5.3 Termination by the User
The User may terminate the subscription at any time via the "Cancel" button on the dashboard. Termination is irrevocable and the Account cannot be reactivated for any reason. The User must, where applicable, open a new Account.
5.4 Termination by the Company
The Company may immediately suspend or terminate access to the services in the event of (i) material breach of these Terms, (ii) inaccurate or misleading information provided, (iii) legal or regulatory obligation requiring such measure, (iv) suspicion of fraud, money laundering or abuse, or (v) failure to comply with the Company's ongoing controls. The Company may also terminate for convenience upon reasonable notice, without prejudice to amounts duly payable.
Article 6 — User Obligations and Conduct
6.1 Code of conduct
The User undertakes to strictly comply with the PHIDIAS Code of Conduct and to adopt an irreproachable attitude at all times. In particular, the User undertakes to:
- demonstrate respect, honesty, integrity and courtesy towards the Company's staff, its service providers, its partners and the entire community of other Users;
- refrain from any public emotional outburst, inappropriate remark, insult, threat, intimidation, harassment, defamation, slander or abusive behaviour, through any channel whatsoever (chat, email, social networks, forums, support, public communications);
- refrain from any false, misleading or denigrating communication, or any communication likely to harm the reputation, image or commercial interests of the Company, its officers, employees, service providers or partners;
- strictly respect the confidentiality of the exchanges, rules and information communicated by the Company in the context of the contractual relationship;
- comply at all times with the reasonable instructions issued by the Company, its support and its compliance teams.
Any breach of the Code of Conduct, even an isolated one, may result in the immediate suspension of access to the services and, in the event of repeated breach or particular gravity, in the final termination of the Account without refund or payment, as well as in the forfeiture of any unpaid simulated profits. The Company further reserves the right to bring any legal action useful for the defence of its interests.
6.2 Prohibited conduct
The following conducts are strictly prohibited:
- Any strategy or system designed to exploit, abuse or misappropriate Company funds, create inaccurate fills or obtain an unfair advantage.
- Any manipulation of prices or the simulation environment inconsistent with live trading conditions.
- The Trader must trade exclusively the most liquid contract currently in the market for the relevant instrument (typically the front-month contract showing the highest volume and open interest).
- So-called "sudden enrichment" strategies, i.e. behaviours consisting in concentrating a limited number of very high-risk transactions with the aim of quickly generating a disproportionate gain at the cost of risking the full depletion of the Account. Such behaviours do not reflect coherent risk management and are prohibited.
- Sharing or transferring login credentials, passwords or account access to any third party.
- Creating multiple accounts in violation of the caps set out in article 2.3.
- Circumventing the maximum contract rule by combining instruments.
Repeated breaches lead to termination of the Account without refund or payment, and forfeiture of simulated profits.
6.3 Taxation
The User is solely responsible for calculating, declaring, withholding and paying all taxes, duties, levies or governmental assessments related to activity with the Company. This responsibility also extends to any gains received in crypto-assets.
Article 7 — Risk Disclosures
7.1 General trading risk
Trading in leveraged financial instruments involves substantial risks and is not suitable for all investor profiles. In accordance with the risk warnings imposed by the applicable financial laws (in particular within the European Union, the United Kingdom, Gibraltar and the United States), past performance, whether simulated or actual, is in no way indicative of future performance, and the capital committed may be totally lost.
The User expressly acknowledges that, even when operating within the framework of a proprietary trading firm (prop firm) — where the User's direct financial loss is in principle limited to the amount of the subscription fees paid to the Company for the Accounts — inappropriate or imprudent trading behaviour may result in: (i) immediate failure of the Evaluation, (ii) loss of all ongoing simulated profits, (iii) termination of the Account without refund or payment, and (iv) the impossibility of any progression to a LIVE Account. No profit guarantee is given, and the majority of traders record losses.
Only risk capital — that is, funds whose loss would jeopardise neither the User's financial security nor lifestyle — should be allocated to the subscription of the Company's services. It is strongly recommended to consult an independent licensed financial advisor before any decision.
7.2 Hypothetical nature of Evaluation and CASH Account
The Evaluation and the CASH Account take place in a simulated environment using data provided by third-party exchanges (CME, COMEX, NYMEX, CBOT, EUREX) via platforms not controlled by the Company. No real transactions are executed during these phases. Hypothetical results have inherent limitations: lack of real liquidity, absence of slippage, hindsight design. No representation is made that any particular account will achieve profits similar to those presented.
7.3 Data, platforms and User equipment
The Company does not itself produce market data; such data is supplied by third-party providers, including Rithmic, dxFeed, NinjaTrader, Tradovate and TradingView. The Company cannot be held liable for any errors, delays, interruptions, failures or unavailability of these platforms or data feeds, nor for any prejudice resulting therefrom for the User.
The User is solely responsible for the User's computer hardware, the quality and stability of the User's Internet connection, the configuration of the User's software and any equipment used to access the services. The Company cannot under any circumstances be held liable for any hardware, software, electrical, network, Internet or other technical failure attributable to the User's technical environment.
7.4 No financial advice
The Company's services are provided for educational purposes only. The Company, its officers, agents, employees and affiliates do not act as licensed financial advisors, brokers or persons authorised to provide investment recommendations. The User is invited to consult an independent licensed financial advisor before making any financial decision.
7.5 Risks associated with crypto-asset payments
Users using crypto-asset payments accept the specific risks inherent in this method of payment (volatility, irreversibility of transfers, network congestion, forks, halts, stablecoin de-pegging, reliance on third parties).
The User acknowledges that it is the User's responsibility to make direct enquiries with Confirmo Limited about all rules applicable to payments, any refunds, fees and specific risks. Phidias Propfirm is not a party to the contractual relationship between the User and Confirmo and cannot be held liable for the decisions or conditions applied by Confirmo.
Article 8 — Independent Contractor Status
For risk management purposes, CASH Accounts begin with a simulation phase that is monitored to ensure long-term consistency. Users act as independent contractors and not as holders or owners of real funded accounts. They have no subordination relationship with the Company.
Transactions are executed in a simulation environment using data from the CME, COMEX, NYMEX, CBOT and EUREX exchanges, evaluated through third-party platforms and data feeds that the Company does not control. Prior to any transfer to a real funded account, simulated performance is reviewed by the Company.
Any compensation paid to the User is based on the performance recorded in the simulated environment. The Company will pay such amounts due from its available revenues (subscription fees, copy trading, live trading), regardless of whether simulated trades have or have not been replicated in live trading.
Article 9 — Personal Data Protection
9.1 Data controller
PHIDIAS PROPFIRM LIMITED, with registered office in Gibraltar, acts as data controller within the meaning of article 4(7) GDPR for personal data collected under these Terms. For crypto-asset payments, Confirmo Limited acts as an independent data controller for the data it processes in connection with the provision of its regulated services.
9.2 Categories of data collected
The Company collects the following categories of data: (i) identification data (first name, last name, date of birth, identity document), (ii) contact data (email address, telephone, postal address), (iii) account data (credentials, login history), (iv) technical data (IP address, browser type), and (v) data relating to exchanges and correspondence.
The Company does not retain banking transaction history, detailed credit card information (card number, security code, expiry date) or the crypto wallet addresses used by the User. Such data is processed exclusively by the authorised payment service providers (notably Confirmo Limited for crypto-assets) according to their own policies.
9.3 Legal bases for processing
Processing of personal data is based on the following legal grounds within the meaning of article 6 GDPR:
- Performance of the contract (art. 6.1.b): provision of services, account management, payment processing, user support.
- Legal obligation (art. 6.1.c): compliance with AML/CTF obligations, accounting record-keeping, response to requests from competent authorities.
- Legitimate interest (art. 6.1.f): fraud prevention, platform security, service improvement.
- Consent (art. 6.1.a): sending marketing communications, where consent is required.
9.4 Retention period
Data is retained for the period necessary for the provision of the services and compliance with applicable legal obligations. Unless otherwise required by law, transaction and anti-money laundering data is retained for 5 years from the end of the contractual relationship.
9.5 Recipients and transfers
Data may be communicated to: (i) Confirmo Limited for crypto-asset payments, (ii) RISEWORKS.io (Rise) for the processing of Trader payments, (iii) the broker FCM Dorman Trading, and the e-broker (Introducing Broker) intermediary Sweet Futures, (iv) payment service providers and banking institutions, (v) KYC/AML providers, (vi) cloud and IT infrastructure providers, (vii) professional advisors (lawyers, auditors), and (viii) competent authorities where required by law.
Transfers outside the European Economic Area are framed by GDPR-compliant transfer mechanisms (in particular Standard Contractual Clauses).
9.6 Rights of data subjects
In accordance with articles 15 to 22 GDPR, the User has the following rights: access, rectification, erasure, restriction of processing, objection, portability, and withdrawal of consent at any time. These rights may be exercised by writing to [email protected]. The User also has the right to lodge a complaint with the competent supervisory authority.
9.7 Security
The Company implements appropriate technical and organisational measures to protect personal data against loss, unauthorised access, disclosure, alteration or destruction. In the event of a data breach likely to result in a high risk to the rights and freedoms of data subjects, the Company will notify the competent supervisory authority within 72 hours and, where appropriate, the data subjects, in accordance with articles 33 and 34 GDPR.
Article 10 — Intellectual Property
All elements of the platform (PHIDIAS PROPFIRM trademarks, software, educational content, analysers, signals, code, images, media, as well as the "look and feel" of the sites) are the exclusive property of the Company or its licensors. The User is granted a personal, non-exclusive, non-transferable and revocable right of use, limited to the use of the services for the User's own account.
The User is strictly prohibited from copying, reproducing, distributing, selling, sublicensing, modifying, translating, decompiling, disassembling or reverse-engineering any element of the platform, except to the extent permitted by a mandatory provision of law.
Any content transmitted by the User to the Company through any channel (telephone, email, forum, chat, Skype) is assigned to the Company, which may use it without consideration. Any breach of these provisions may give rise to legal proceedings and reimbursement by the User of attorney fees, court costs and damages.
Article 11 — Limitation of Liability and Indemnification
11.1 General limitation
Except where such limitation is prohibited by a mandatory provision of law (notably in cases of fraud, gross negligence, or harm to life or physical integrity), the Company, its affiliates, officers, agents, employees, suppliers and advertisers shall not be liable for any indirect, incidental, consequential, special, exemplary or punitive damages arising from the services.
11.2 Liability cap
The Company's maximum and exclusive liability towards the User, all heads of loss combined, is capped at the total amount actually paid by the User to the Company during the three (3) months preceding the event giving rise to liability. This limitation does not apply where the law prohibits such limitation.
11.3 Indemnification
The User undertakes to indemnify and hold harmless the Company, its affiliates and their officers, agents and employees from any claim, damage, loss or expense (including reasonable attorney fees) arising from (i) the User's breach of these Terms, (ii) the User's use of the services in breach of applicable law, or (iii) any allegation that content transmitted by the User infringes the intellectual property rights of a third party.
Article 12 — Modifications
The Company reserves the right to amend these Terms, applicable rules, payments and programs at any time. Any substantial modification will be notified to the User electronically and will take effect on the date indicated in the notification. Continued use of the services after this date constitutes acceptance of the modifications. If the User does not accept, the User has the option to terminate the subscription before the modifications take effect, without prejudice to amounts duly owed.
Modifications imposed by a legal, regulatory or security obligation may take effect immediately.
Article 13 — Governing Law and Dispute Resolution
13.1 Governing law
These Terms, as well as any non-contractual obligations arising from them, are governed by Gibraltar law.
13.2 Jurisdiction
Any dispute relating to these Terms shall fall under the exclusive jurisdiction of the courts of Gibraltar. The parties consent to submit to such jurisdiction. This clause applies without prejudice to the mandatory rights granted to consumers by the law of their habitual residence, where applicable.
13.3 Pre-litigation amicable resolution
Prior to any legal action (excluding urgent protective measures), the User undertakes to contact the Company at [email protected] to attempt amicable resolution of the dispute. A response will be provided within a reasonable timeframe not exceeding 60 days.
13.4 Language
The contractual language is English. Any translation is provided for information only; in case of discrepancy, the English version prevails.
Article 14 — General Provisions
14.1 Force majeure
Neither party shall be liable for any failure to perform its obligations resulting from a force majeure event beyond its reasonable control, including: network failures or outages, blockchain halts or forks, denial-of-service attacks, banking or payment system failures, sanctions or regulatory actions, industrial disputes, or acts of God.
14.2 Severability
If any provision of these Terms is held invalid, illegal or unenforceable, it will be deemed modified to the minimum extent necessary to make it valid; failing which, it will be deemed deleted, without affecting the validity of the other provisions.
14.3 Entire agreement
These Terms, together with the LIVE Account Agreement (for LIVE Accounts) and any documentation expressly incorporated by reference, constitute the entire agreement between the parties on its subject matter and supersede all prior agreements or understandings.
14.4 Assignment
The User may not assign rights and obligations under these Terms without the prior written consent of the Company. The Company may assign or novate these Terms, including to an affiliate or successor.
14.5 Notices
Notices sent to the User will be made by email to the address recorded in the account. The User is required to keep contact details up to date. Notices to the Company must be sent to [email protected].
14.6 Electronic acceptance
Acceptance of these Terms by electronic means (click-through) has the same legal value as a handwritten signature.
Contact
For any question relating to these Terms, the User may write to: [email protected]
PHIDIAS PROPFIRM LIMITED — Company registered in Gibraltar.