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Phidias Propfirm terms and conditions: what the firm reserves

Phidias Propfirm: a reading of 12 clauses from its terms and rules, quoted word for word and recorded on 17 September 2026 from its official pages. Its documents reserve the right to change its rules and sanction a practice that is not on its list. Law governing disputes: Gibraltar. Evaluation fees are not refundable.

Recorded on 20 September 2026

The clauses, one by one

For each question, the status drawn from the documents, what it changes for a trader, and the firm's sentence exactly as written.

  1. Can the firm change its rules, including for an account already purchased?

    Yes

    The rules in force at purchase are not locked in: a profit target, a drawdown or a payout condition can change during the life of the account.

    • Changes also apply to accounts already purchased.
    Firm's wording · Section: General Terms of Use Phidias Propfirm

    These GTU may be subject to modifications. The applicable conditions are those in force on the Site at the date of use of the Services.

    Terms and conditions ↗Recorded on 17 September 2026Sentence found on the page on 19 September 2026

  2. Can the firm deny or reduce a payout at its discretion?

    Ambiguous wording

    A payout denial is tied to grounds, but some of them are defined by the firm itself or in broad terms.

    Firm's wording · Section: Foreword

    In case of intentional or repetitive non-conforming behavior on one or more accounts, we reserve the right to take measures to reduce risks, ranging from removing conflicting positions to rebalancing the account, reducing contracts or closing the account completely and terminating our cooperation.

    Prohibited practices ↗Recorded on 17 September 2026Sentence found on the page on 19 September 2026

  3. Can the firm close an account without cause?

    Ambiguous wording

    The firm reserves the right to close an account on grounds whose definition it partly keeps to itself.

    • No refund is provided for on closure.
    Firm's wording · Section: 3.1.1. Number of Authorized Accounts and Copy Trading

    Furthermore, the Company reserves the right to suspend all accounts of this User, at its own discretion.

    Terms and conditions ↗Recorded on 17 September 2026Sentence found on the page on 19 September 2026

  4. Is the list of prohibited practices open-ended?

    Yes

    The list of prohibited practices is not exhaustive: a strategy that is not on it can still be sanctioned.

    Firm's wording · Section: 3.1.3. Consistency and Regularity Policy

    Any attempt to exploit the simulated environment results in loss of account access.

    Terms and conditions ↗Recorded on 17 September 2026Sentence found on the page on 19 September 2026

  5. Are accounts, funded ones included, simulated?

    Yes

    The documents say so: accounts are simulated. A payout is a sum paid by the firm, not the result of orders executed in the market.

    • Funded accounts are simulated as well.
    Firm's wording · Section: 2. Services Provided by the Company

    This CASH account allows the User to perform trading operations through a virtual space that replicates financial markets, with virtual funds made available on the account funded by the Company, according to the selected account format.

    Terms and conditions ↗Recorded on 17 September 2026Sentence found on the page on 19 September 2026

  6. Are evaluation fees refundable?

    No

    Evaluation fees are not refundable, even if the account was never used.

    Firm's wording · Section: 8. Billing and Refund Conditions

    No returns, refunds or exchanges, partial or otherwise, for any reason whatsoever can be requested from the Company.

    Terms and conditions ↗Recorded on 17 September 2026Sentence found on the page on 19 September 2026

  7. Which law applies to a dispute?

    Specified

    A dispute is settled under this law, often far from the trader's country.

    • Designated law: Gibraltar.
    Firm's wording · Section: 10. Applicable Law – Language

    These GTU and operations resulting therefrom are governed by Gibraltar law.

    Terms and conditions ↗Recorded on 17 September 2026Sentence found on the page on 19 September 2026

  8. Is arbitration mandatory?

    No

    The documents do not provide for mandatory arbitration: a dispute goes to the designated courts.

    Firm's wording · Section: 11. Disputes

    All disputes to which the use of Services and the Site in application of these GTU could give rise will be submitted to competent courts under common law conditions.

    Terms and conditions ↗Recorded on 17 September 2026Sentence found on the page on 19 September 2026

  9. Is the firm's liability capped?

    Yes

    What a trader can claim if the firm is at fault is limited by the contract.

    • Cap: the amounts paid to the firm.
    Firm's wording · Section: 6. Company's Liability

    The Company's maximum exclusive liability to Users is for all damages, losses and causes of action (whether in contract, in tort, including, without limitation, negligence), or otherwise, will be the total amount that the Trader will have paid, if any, directly to the Company for the Services.

    Terms and conditions ↗Recorded on 17 September 2026Sentence found on the page on 19 September 2026

  10. Does the contract set a time limit to bring a claim?

    Not addressed

    No contractual time limit to act was found in the documents read.

    Terms and conditions ↗Recorded on 17 September 2026

  11. Who must check that the offer is legal in your country?

    Yes

    Checking that the offer is legal in the country of residence is the trader's responsibility, not the firm's.

    Firm's wording · Section: 7. User's Liability

    International Users outside Gibraltar understand that they are responsible for compliance with laws of their local jurisdiction regarding import or export regulations concerning any service or site operated by the Company.

    Terms and conditions ↗Recorded on 17 September 2026Sentence found on the page on 19 September 2026

  12. What does the contract provide for a payment dispute?

    Yes

    Disputing a payment with your bank exposes you to a sanction set by the contract, such as the closure of your accounts.

    Firm's wording · Section: 7. User's Liability

    Any purchase resulting in a chargeback or payment dispute will result in immediate deactivation of the User's membership. The username will be permanently banned from the Company's authorized user database.

    Terms and conditions ↗Recorded on 17 September 2026Sentence found on the page on 19 September 2026

Monitored documents

Each document is reread by our watcher. Every change is dated, and each version is kept with the capture that proves it.

Between the last date of one version and the first date of the next, we do not know which text was online, and we do not assume.

Changes to these documents

When a sentence that touches a clause changes, it is quoted before and after. When the document moves without us being able to pin it to a sentence, the entry says so.

No published change for these documents.

Frequently asked questions about the terms of Phidias Propfirm

Can Phidias Propfirm deny or reduce a payout?

The documents published by Phidias Propfirm do not settle the point clearly. A payout denial is tied to grounds, but some of them are defined by the firm itself or in broad terms.

Can Phidias Propfirm change its rules for an account already purchased?

Yes, according to the documents published by Phidias Propfirm. The rules in force at purchase are not locked in: a profit target, a drawdown or a payout condition can change during the life of the account. Changes also apply to accounts already purchased.

Are evaluation fees at Phidias Propfirm refundable?

No, according to the documents published by Phidias Propfirm. Evaluation fees are not refundable, even if the account was never used.

Does a dispute with Phidias Propfirm go to mandatory arbitration?

No, according to the documents published by Phidias Propfirm. The documents do not provide for mandatory arbitration: a dispute goes to the designated courts.

How these terms are read

We read the terms and conditions, trading rules and disclosures that each firm publishes on its own website, and only there. Every document goes through the same twelve-question grid. An answer is only published once the sentence it rests on has been found word for word in the page our watcher recorded itself, and then reviewed. We quote the text as written, without paraphrasing it, so that anyone can check it. When a document does not address a question, we say so, without inferring a yes or a no.

This page describes what documents say at a given date. It is not legal advice, it does not say whether a clause is valid under your national law, and it does not replace reading the full contract before a purchase.

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