Prop firm rules cheat sheet (2025)
All the numbers and rules that matter, in one place. Bookmark this before you start your next challenge.
There are a lot of rules in prop trading. Most of them are simple, but reading them scattered across a firm's FAQ when you're mid-challenge is not ideal. This page puts all the important ones in one spot, along with how OA Funded compares to industry standard terms.
Challenge phase rules
| Rule | Industry standard | OA Funded |
|---|---|---|
| Profit target | 8–10% (Phase 1), 5% (Phase 2) | 8% / 5% |
| Time limit | 30 days per phase | None |
| Daily drawdown | 4–5% of balance | 5% |
| Max drawdown | 8–10% of starting balance | 10% |
| Minimum trading days | 3–10 days | None |
| Retake | Usually paid ($50–$200) | 1 included, 60% split |
Funded account rules
| Rule | Industry standard | OA Funded |
|---|---|---|
| Profit split | 75–80% | 80–90% |
| Payout frequency | Bi-weekly or monthly | Weekly |
| Minimum payout | $100–$250 | $25 |
| Consistency rule | Common (30–40% cap per day) | None |
| Weekend/news hold | Forbidden at many firms | Allowed |
| EA/bot trading | Varies — often restricted | Allowed |
Mistakes that trip people up
Chasing the profit target in the final days
Stick to your normal strategy. Forced trades near deadlines are how most people fail.
Forgetting daily drawdown resets at midnight
Know your broker's exact drawdown reset time — it varies and not knowing can lead to a surprise breach.
Confusing balance-based vs equity-based drawdown
Static drawdowns are calculated from starting balance. Trailing drawdowns move with your peak equity. Know which one you have.
Trading news events you haven't checked rules on
Some firms restrict trading 2 minutes before/after major news. Read the policy once before your first week of trading.
Not requesting payouts early enough
Don't let profits sit on the account for weeks. Request early, build the habit, and reduce your exposure to a bad day wiping them.
Holding positions over the weekend without checking rules
Most firms allow weekend holds, but a few don't. Verify before your first Friday close.
Quick reference: OA Funded numbers
Phase 1 target
8%
Phase 2 target
5%
Daily drawdown
5%
Max drawdown
10%
Profit split
80–90%
Min payout
$25
Payout frequency
Weekly
Time limit
None
Retake
1 included, at a 60% split
Ready to put these rules to use? OA Funded's challenge has no time limit, one included retake, and some of the most trader-friendly terms in the industry.
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