Following up on our guide to the 10 Clauses That Matter, we’ve taken the Terms of Service for all 11 firms reviewed on this site and graded them.
A Green (Good) score means the firm’s clause is transparent, fair to the trader, and standard or better than industry norms. A Yellow (OK) score means there are restrictions you must navigate, but they are manageable. A Red (Bad) score indicates a significant red flag that puts your capital or profits at risk.
The Master TOS Comparison Grid
| Prop Firm | Right to Modify | Payout Definition | Prohibited Trading | Drawdown Definition | News Restrictions | Consistency Rule | Retroactive Audits | Dispute & Jurisdiction | Account Termination | Intellectual Property |
|---|---|---|---|---|---|---|---|---|---|---|
⚠️ok | ✅good | ✅good | ✅good | ⚠️ok | ⚠️ok | ✅good | ✅good | ✅good | ⚠️ok | |
⚠️ok | ⚠️ok | ⚠️ok | ⚠️ok | ✅good | ❌bad | ❌bad | ✅good | ⚠️ok | ⚠️ok | |
⚠️ok | ✅good | ✅good | ✅good | ⚠️ok | ⚠️ok | ✅good | ✅good | ✅good | ⚠️ok | |
⚠️ok | ✅good | ⚠️ok | ⚠️ok | ⚠️ok | ✅good | ⚠️ok | ⚠️ok | ⚠️ok | ⚠️ok | |
⚠️ok | ⚠️ok | ⚠️ok | ✅good | ✅good | ✅good | ⚠️ok | ⚠️ok | ⚠️ok | ⚠️ok | |
⚠️ok | ⚠️ok | ⚠️ok | ✅good | ✅good | ⚠️ok | ⚠️ok | ✅good | ⚠️ok | ⚠️ok | |
⚠️ok | ⚠️ok | ⚠️ok | ✅good | ⚠️ok | ⚠️ok | ⚠️ok | ⚠️ok | ⚠️ok | ⚠️ok | |
⚠️ok | ✅good | ⚠️ok | ✅good | ⚠️ok | ✅good | ⚠️ok | ✅good | ⚠️ok | ⚠️ok | |
⚠️ok | ✅good | ⚠️ok | ✅good | ✅good | ⚠️ok | ⚠️ok | ⚠️ok | ⚠️ok | ⚠️ok | |
⚠️ok | ⚠️ok | ⚠️ok | ⚠️ok | ⚠️ok | ⚠️ok | ⚠️ok | ⚠️ok | ⚠️ok | ⚠️ok | |
⚠️ok | ✅good | ⚠️ok | ✅good | ✅good | ⚠️ok | ⚠️ok | ✅good | ⚠️ok | ⚠️ok | |
⚠️ok | ✅good | ❌bad | ✅good | ⚠️ok | ⚠️ok | ⚠️ok | ✅good | ⚠️ok | ⚠️ok |
Standard industry language, but they generally grandfather active accounts.
Clear payout structure; one of the most reliable in the industry.
Very clearly defined rules, little ambiguity compared to offshore firms.
EOD Trailing Drawdown is standard and fair.
Strict news restrictions, but transparently automated.
50% rule in Combine; relatively fair but must be managed.
No history of retroactive payout denials for technicalities.
Based in Illinois, US jurisdiction.
Clear, rule-based termination policies.
Standard data usage clauses.
Can modify rules, usually give notice via Discord.
Frequent payouts, but recent delays and strict review periods noted.
Broad "gaming" definitions have been used during payout reviews.
Offers both EOD and Intraday; Intraday trailing is high risk.
Trading during news is fully allowed.
Strict 30% consistency rule enforced tightly at payout.
Known to audit trading history retroactively during payout requests.
US-based company.
Has invoked "sole discretion" terminations in the past.
Standard industry language.
Standard terms.
Excellent payout reputation and transparency.
Clearly defined limits without "gotcha" clauses.
EOD Drawdown ensures unrealized profits don't penalize you.
Platform auto-liquidates before news; no longer a hard fail.
30% consistency rule is standard.
No pattern of retroactive denials.
Based in the US.
Fair, rule-driven termination policy.
Standard data clauses.
Standard modification clauses.
Very reliable payout process, clear guidelines.
Standard anti-gaming language.
Rapid accounts use intraday trailing (high risk); Flex uses EOD (good).
Must close 2 min before/after Tier 1 news.
Rapid accounts have no consistency rule in the funded stage.
Standard compliance review at payout.
Based in US, but standard arbitration clauses.
Standard termination clauses.
Standard usage.
Standard terms of service modification rights.
Growing payout history, clear terms.
Standard definitions of prohibited trading.
EOD drawdown on Straight To Sim Funded accounts.
No restrictions on trading the news.
No consistency rules.
Standard review process.
US-based entity.
Standard language.
Standard.
Standard right to modify terms.
Reliable, but payouts require minimum active days.
Some vague "gaming" language present.
Offers EOD and Static options.
News trading is permitted.
40% best day rule (legacy); 23% active day rule on newer accounts.
Standard payout audits.
US-based entity.
Standard terms.
Standard.
Standard modification rights.
Clear guidelines.
Standard anti-arbitrage language.
EOD drawdown available.
Allowed, but check specific asset class restrictions.
Standard limits.
Standard review.
US operations.
Standard terms.
Standard.
Standard terms.
Unique PRO firm setup designed for easy withdrawals.
Standard language.
EOD drawdown available.
Permitted on certain account types.
No consistency rules.
Standard audits.
US-based.
Standard terms.
Standard.
Standard right to modify.
90/10 split once funded, max $2,000 per request, min $500. Processing is extremely fast (often minutes).
Standard rules, but strictly enforces a 30-second minimum trade holding time.
End-of-Day (EOD) trailing drawdown updates nightly and prevents intraday trailing failures.
News trading is fully allowed.
50% consistency rule applies during evaluation, but is completely removed once funded.
Standard compliance review.
Standard dispute terms.
Standard terms.
Standard.
Standard terms.
Standard.
Standard language.
Various options available.
Standard restrictions.
Standard.
Standard review.
US-based.
Standard terms.
Standard.
Standard right to modify terms.
Starts at 90/10 split and scales to 100/0 split after 16 payouts.
Standard anti-gaming and HFT restrictions (minimum 15-second hold time).
Closed-trade EOD trailing drawdown is very fair for swing trades.
No restrictions on trading news events during evaluation.
30% consistency rule applies during 8-day payout cycle.
Standard compliance review at payout.
US-based in Sarasota, Florida.
Standard termination language.
Standard.
Standard terms allowing rules adjustment, though active evaluations are usually grandfathered.
100% split on the first $15,000, and 90/10 split thereafter. No minimum trading days.
Broadly defined prohibited conduct rules including bans on high-frequency scalp trading and simulated trading exploitation.
End-of-Day (EOD) trailing drawdown updates nightly and prevents intraday trailing failures.
News trading allowed in evaluation, but restricted on funded/payout accounts.
40% consistency rule applies (no single day may exceed 40% of total profit).
Compliance review triggered at payout request.
US-based entity.
Standard termination clauses for rule breaches.
Standard intellectual property protections.
What to Do With This Information
No firm has a perfect TOS. The goal is not to find a legally flawless contract—because you won't—but to find a firm whose rules align with your trading style and who has a track record of not abusing their discretionary clauses.
Firms that score mostly Green and Yellow, like Topstep and TradeDay, generally offer the fairest playing fields for retirees. Firms with Red marks may still be viable, but require extremely aggressive payout schedules and strict adherence to their specific (and sometimes frustrating) compliance rules.





