Everything else in a rule sheet is detail. These eight decide whether a competent trader ends up funded and paid.
| Rule | What good looks like | FundedAxe |
|---|---|---|
| Max loss type | Static, from starting balance | Static in evaluations — 6% to 10% |
| Daily loss measurement | End of day | End of day |
| Consistency rule | None, or a published threshold | Published thresholds, 20%–50% |
| Time limit | None | None |
| Minimum trading days | 0–5 | 0 on the PAP challenge / 3–5 on Pro |
| News trading | Allowed | Allowed |
| Weekend holding | Allowed | Allowed |
| Reward cycle | Stated, with a first-eligibility date | 14 days after your first trade, then every 14 days |
The question to ask about each
- Max loss: "Is it measured from my starting balance or does it trail?"
- Daily loss: "Is it my closing balance or my lowest intraday equity?"
- Consistency: "Is there a threshold, and what is the exact percentage?"
- Time limit: "Does any phase expire?"
- Minimum days: "How is a trading day counted — any closed trade, or a minimum volume?"
- News: "Does the restriction cover holding, or only opening?"
- Weekends: "Must positions be flat before the weekly close?"
- Rewards: "When is my first request, and what is the cycle after that?"
Why these eight and not the other forty
A rule sheet contains dozens of clauses. Most of them — prohibited techniques, platform terms, account transfer rules — are standard across the industry and rarely decide an outcome. These eight are the ones where firms genuinely differ, and where the difference changes your probability of being funded and paid.
| Rule | How much it moves your odds | Why |
|---|---|---|
| Max loss type | Very high | Trailing removes the buffer you earn by winning |
| Daily loss measurement | High | Intraday equity breaches trades that ultimately win |
| Consistency rule | High | Can void a pass with no risk rule broken |
| Time limit | Medium-high | Forces position size upward as the deadline nears |
| Minimum trading days | Medium | Adds delay and tempts filler trades |
| News / weekend | Strategy-dependent | Disqualifying for some strategies, irrelevant for others |
| Reward cycle | Medium | Cadence affects behaviour more than split size does |
Rules that sound alarming but usually are not
- Prohibited techniques — latency arbitrage, cross-account hedging, exploiting pricing errors. Universal, and none of them describes legitimate trading. See hedging and prohibited strategies.
- Maximum lot size caps — usually set far above what correct sizing produces.
- Identity verification — standard, and doing it on day one is in your interest anyway.
- The firm's right to review an account — every firm has this. What matters is whether reviews are triggered by defined criteria or by discretion.
The two clauses worth reading word by word
The consistency clause, because a threshold that is not stated is a threshold that can be whatever your account happens to exceed. And the amendment clause — whether the firm can change rules on accounts that are already live. A firm that can rewrite the terms mid-evaluation has, in effect, no fixed terms.
All eight, published before you pay
No account required to read the full rule set.
Frequently asked questions
What are the most important prop firm rules?
Whether the maximum loss is static or trailing, whether daily loss is measured end-of-day or on intraday equity, and whether a consistency rule applies. Those three decide most outcomes; time limits and minimum trading days come next.
What rules does FundedAxe have?
A static maximum loss from starting balance through every evaluation, an end-of-day daily loss limit, published consistency thresholds, no time limit, no minimum trading days on the Pay After Pass challenge, and news trading and weekend holding both permitted.
FundedAxe evaluations and funded accounts are simulated. Traders do not trade real client capital; rewards are paid on simulated performance under the terms of the FundedAxe trader agreement.