Purdia Capital Review 2024
Purdia Capital, established in 2022, is a proprietary futures trading firm providing futures traders with funding, guidance, education, and resources. It distinguishes itself by placing an emphasis on the career advancement and success of its traders.
In contrast to more conventional online funding companies, Purdia Capital is dedicated to nurturing individual relationships with every one of its traders, providing tailor-made risk-management and coaching services on a one-to-one basis. The firm is suitable for traders of all experience levels, helping them navigate the intricate landscape of futures trading and growing their confidence at the same time.
Purdia Capital have set out to revolutionise the world of online funding, bridging the gap between online funding bodies and real proprietary trading firms. To achieve this goal, the firm has three principal tactics:
- Foster deeper connections with their traders than any other firm does, including via increased one-to-one engagement, more approachable customer service, and listening to feedback from traders about what works for their accounts.
- Offer a wealth of educational materials, training options and community engagement to ensure Purdia Capital’s traders get maximum value for money.
- Adopt a business model that isn’t dependent on revenue from repeated reset and evaluation fees from unsuccessful traders, but rather on helping their traders towards generating consistent profits.
Purdia Capital Beginner Evaluation
Purdia Capital’s beginner evaluation comprises two phases. In the first, traders receive one complimentary reset, with subsequent instant resets costing $99.
The evaluation has stricter risk constraints than some other evaluations available but offers those with less experience a more lenient environment in which to learn about futures trading. The firm recommends traders start with small numbers of micro futures contracts to promote a responsible approach to managing risk and facilitate gradual growth of their trading accounts over time.
Exceeding the daily loss limit does not need to worry traders too much, as doing so merely triggers a temporary suspension of their trading account for the remainder of the day, without having any implications for the account in the longer term.
Purdia Capital Standard Evaluation
The objective for traders in the evaluation phase is to showcase their proficiency is generating consistent profits. Once you have successfully completed the evaluation, Purdia Capital will transition you into a simulated live account before you are given Live Funded Account.
The prop firm asks traders to follow three rules, which are crafted to help traders grow their trading accounts prudently.
- Achieve the profit target.
- Trade for a minimum of five days.
- Maintain a balance above the maximum drawdown.
Some of the advantages to the Purdia Capital evaluation are as follows:
- Streamlined one-stage evaluation process.
- No consistency rules.
- Trading during news events is allowed.
- Traders have the flexibility to set their own daily loss limit.
The unrealised gains drawdown is calculated by tracking the highest point of unrealised profits.
Fast Track
Purdia Capital’s Fast Track program caters to seasoned traders with a considerable level of experience, as it needs to be completed within a 15-day timeframe.
Traders will be asked whether they are classified as professional or non-professional traders. In nearly all cases, they are advised to opt for non-professional status. The exceptions to this are traders who:
- are officially registered as professional traders with an exchange,
- offer investment services to a third party, or
- act on behalf of an institution involved in brokerage, banking, investment or other financial services.
All Purdia Capital evaluations, including the Fast Track Evaluation, operate on a monthly subscription basis and need to be actively cancelled if you don’t want to be charged renewal fees. Once you have successfully completed an evaluation, it will be terminated automatically. The futures prop firm requires traders to trade for at least five trading days (a day on which at least one trade is executed) in order to complete the evaluation and qualify for funding.
End of Day Drawdown
The maximum drawdown for Purdia Capital evaluations is calculated from the account’s balance at the close of each trading day. If the balance achieves a new cumulative high, the minimum balance threshold is adjusted accordingly.
A daily loss limit is in place to limit account losses.
Depending on how well you perform in the evaluation, Purdia Capital may propose resetting your account, or present a similar alternative suitable for you. The firm is a strong believer in the idea that accomplished traders shouldn’t be required to undergo another evaluation phase.
Purdia Funded Account Rules
Once you have successfully completed the evaluation, you will need to pay a one-off activation fee of $130 (payable during the onboarding process). There aren’t any subsequent monthly or recurring charges for funded accounts.
Traders using a Live Funded Account have risk parameters tailored to their individual trading style, account size, and risk management strategy. These parameters are established in collaboration between the trader and their designated risk manager.
Benefits:
- Payouts:
- Traders need to complete at least 10 days of trading in their Funded Account before they can request their first payout, but after this, payouts can be requested on a weekly basis.
- The minimum requirement for payouts is $100, and the maximum limit $25,000. There aren’t any profit or trading requirements to request a payout, and traders have the flexibility to withdraw any percentage of their profits.
- Purdia Capital facilitates payouts through direct banks transfer or PayPal.
- Live Account:
- Traders are given a simulated funded account for the first ten days before they are transitioned to a live account.
- Scaling:
- Accumulate capital to gain access to additional contracts.
- Traders who demonstrate consistency in managing risk and sustainable growth are given more lenient risk parameters, such as larger maximum position sizes (i.e. scaling).
- The firm welcomes and encourages traders to contribute to the decision-making process regarding their risk parameters, through their designated risk manager, but ultimately any adjustments made are entirely at the discretion of Purdia Capital.
- Trade the News:
- Traders are permitted to trade during news events.
- More benefits:
- Dividing the funded account into two separate accounts is possible and an effective way to reduce risk.
- Discussion with the firm’s risk managers enables traders to refine their strategies and risk management approaches.
- Join the exclusive Purdia Capita Pro group.
Traders are allowed to trade up to two evaluations simultaneously, but only one funded account at a time. If a trader completes another evaluation when they already have a funded account, the evaluation will be placed on hold in case the existing funded account is terminated or lost. As traders are authorised to scale within their funded accounts, there’s no need to complete multiple evaluations.
Trailing Max Drawdown
The Trailing Maximum Drawdown (TMD) is a minimum account balance that tracks your profits throughout the evaluation phase. Should your balance fall below the TMD threshold, you will fail your evaluation. Apart from the maximum time limit in the Fast Track Evaluation, breaching the TMD is the sole possible cause of evaluation failure.
The TMD is a pivotal component of Purdia Capital’s evaluation, as it discourages excessive sizing, leveraging, and other risky practices. In other words, it works to instil a sound approach to managing risk in the firm’s traders, favouring traders who secure profits and manage their trades actively.
The TMD adjusts with your profits in evaluation accounts, consistently maintaining a set amount from your account’s highest balance. For instance, in the $100,000 Standard Evaluation, the TMD is $3,000. This means it will always remain $3,000 from your account’s highest balance. The TMD remains static after setting a new high and then experiencing a losing day, only resetting when another new high is achieved. The graph below illustrates this concept.
Traders need to bear in mind that open equity losses factor into the calculation of whether the TMD is being adhered to. If an open position causes your account balance to dip below the minimum threshold, you will fail your evaluation.
Below we examine the differences between the two varieties of trailing drawdown: Intraday and End of Day.
End of Day Trailing
In Purdia Capital Beginner and EOD Evaluations, the TMD tracks End of Day (EOD), meaning that the TMD is adjusted at the conclusion of each trading day, and only if the account balance achieves a new high by the day’s end.
Intraday Trailing
In Purdia Capital Standard and Fast Track Evaluations, the TMD is calculated intraday, meaning that the TMD follows your open equity, including unrealised gains from active trades. This form of TMD always trails the peak of your unrealised gains in the account.
For all evaluation accounts the TMD persists in tracking your highest level of gains, even beyond the breakeven point. For example, if your initial maximum drawdown begins at $3,000, then it will always stay $3,000 below the highest balance of the account.
In the Simulated Live Account, the TMD operates identically to in the evaluation phase. However, in the Live Funded Account, the TMD remains static at breakeven plus $100 and does not trail.
The presence of the TMD serves to safeguard both the trader and Purdia Capital. It imposes a limit on potential losses and the extent to which traders can return profits to the markets. The aim is for Purdia Capital traders to adopt thorough risk management practices at the same time as gradually growing their accounts.
The prop firm’s main objective is cultivating successful, sustainably minded traders, and effective risk management plays a fundamental role in this. Proper trade sizing, adherence to stop-loss limits and avoiding overtrading are all integral aspects of managing risk well.
Funded Account Scaling Plan
The Purdia prop firm have created a scaling plan which provides funded traders with maximum flexibility to implement their preferred trading strategies while at the same time facilitating a smooth transition into live trading. This transition can be a tricky one, with many traders encountering difficulties in the initial stages of live trading. Both maintaining smaller trade sizes and managing risk diligently will help traders to navigate these challenges as they acclimatise. When they feel comfortable with their live accounts, traders can then start scaling up.
Account Risk Parameters
Every Live Funded Account comes with a set of risk parameters which are put in place through collaboration between the trader and their designated risk manager. Traders will have an introduction call when they qualify for funding, in which initial levels are agreed upon. Traders can request adjustments subsequently to this by getting in touch with their risk manager. Purdia Capital is keen to emphasise that their risk parameters are there to help traders keep their accounts.
The risk parameters for Live Funded Accounts are as follows:
- Daily Loss Limit (compulsory): Automatically triggers the liquidation of all open positions and suspends trading for the remainder of the day when losses equal or surpass this threshold. It resets daily based on the day’s starting balance.
- Maximum Position Size (compulsory): Determines the maximum allowed size of positions, particularly during periods of heightened margin requirements.
- Profit Trigger (optional): Liquidates all open positions and suspends trading for the remainder of the day when a certain amount of profit is generated.
- Trailing Drawdown (compulsory): Liquidates all open positions and suspends trading for the remainder of the day when this level is breached. It trails intraday based on open Profit and Loss, including unrealised gains.
Scaling Plan
For every additional $1,000 in balance maintained in a trader’s Live Funded Account, the trader qualifies for trading one extra full-size contract (such as ES, NQ or GC) or 10 micro contracts (such as MES, MNQ or MGC). It’s crucial to emphasise that sustaining this increased balance is essential to support trading larger position sizes.
Withdrawals or losses may bring the balance below a certain threshold, leading to a reduction in the maximum position size back to earlier levels. Traders can request increases to maximum position size limits and other risk parameters once each week by getting in touch with their designated risk manager. Nonetheless, all adjustments to risk parameters are ultimately entirely at the discretion of Purdia Capital, and the firm reserves the right to restrict increases in risk parameters when deemed necessary in order to safeguard its capital.
Purdia Capital aims to provide its funded traders with a framework conducive to safe account growth and appropriate scaling. Funded traders collaborate closely with their risk managers to find suitable levels for all risk parameters.
Daily Loss Limit
The Daily Loss Limit (DLL) is a technical loss limit, meaning it merely suspends trading for the rest of the day when the threshold is reached. The system automatically closes any open positions at the current market price and prohibits any more new trades that day.
Purdia Capital does not count breaching the DLL as a rule violation, so it won’t fail your evaluation. You’re allowed to resume trading the following day, so long as you have not surpassed your maximum drawdown. There is no restriction on the frequency with which you can breach the DLL, provided that you remain above the maximum drawdown.
Do be aware that not all evaluations automatically begin with a DLL in place. Check your Purdia trader dashboard to see if your account includes a DLL and if so, what the threshold is.
Live Funded Accounts, however, do always have a DLL in place. The threshold for this is determined in collaboration between the trader and their risk manager during the introductory call for their Live Funded Account. Any trader having difficulties with their DLL will have a one-to-one consultation call arranged by the firm to assess their performance and whether the current risk parameters, and account size, are suitable for their trading style.
All traders, regardless of how successful they are, will have a bad day occasionally. For those yet to demonstrate consistent profitability, such days may occur more frequently. Purdia Capital is of the belief that one of the most effective ways for traders to grow successfully and sustain that success in the long term is to limit the impact those bad days can have.
Purdia Payouts & Profit Split
Regardless of their trading style or strategy, every trader’s fundamental aim is to generate profits. For some traders, this involves steadily growing their account and withdrawing only the odd payout here and there. Others may seek a consistent income stream through weekly withdrawals. Either way, Purdia Capital ensures that the payout process is simple, efficient, and transparent.
- Traders are required to trade with a Funded Account for at least 10 days before they can request their first payout. Thereafter withdrawals can be requested on a weekly basis, irrespective of the number of trading days accrued or how much profit they have generated.
- Purdia Capital processes payouts through either direct bank transfers or PayPal. Note that there is a fee for processing commercial transactions with PayPal.
- All payout requests are promptly processed upon receipt, with Purdia committing to complete them within 48 hours.
- Traders have the flexibility to withdraw as much of their profits as they like (with a minimum withdrawal of $100 and a cap of $25,000 per withdrawal).
- Traders receive a profit share of 70%.
While the prop firm acknowledges that this profit share may be lower than that offered by most other futures prop firms, it is resolute in its endeavour to operate to higher standards than those found elsewhere in the online funding industry. As part of this initiative, Purdia is dedicated to fostering closer relationships with its funded traders than any other firm. This includes providing designated risk managers for each trader, with collaboration over realistic risk parameters that safeguard both trader accounts and the firm’s capital. As such, while the profit share may be lower, Purdia Capital is delivering better value service-wise than most other firms.
Trading Hours
Most of Purdia Capital’s tradable futures products close each day at 4.00pm CT and resume trading at 5.00pm CT. The firm therefore asks traders to close their positions before 3.45pm CT each day. Traders can resume trading as soon as the market reopens.
It is highly recommended that traders exit all positions and cancel all orders before this designated time to reduce the risk of slippage or adverse effects. The prop firm bears no responsibility for losses incurred due to trades automatically closed under this policy.
Trading Platforms
As funded traders partnering with Purdia Capital trade with real money in genuine funded accounts, they are subject to the margin requirements of their broker, which are non-negotiable and are compulsory in Purdia Capital Live Funded Accounts. These margin requirements may temporarily increase around key economic news releases, so traders should stay up to date with when news events are happening and their impact on volatility and margin.
Purdia Capital traders have a choice of platforms, with Tradovate, TradingView, and NinjaTrader all available.
Traders already in possession of a NinjaTrader license need to enable the multi-provider option and add their Purdia account manually.
Purdia Capital has a live futures brokerage account that clears through NinjaTrader Clearing.
- Payouts can be requested weekly.
- Responsive and helpful customer support.
- Opportunities for traders with limited capital and experience to secure funding.
- Beginner Evaluations can be reset with no charge.
- Once funded, traders are exempt from recurring monthly fees, with only a one-off $130 payment required.
- Funded traders trade with real money in genuine live accounts
- All trades in Live Funded Accounts go through a regulated broker (Tradovate) to a live exchange, where they are filled with genuine third-party liquidity from the market.
- Evaluation costs are relatively high.
- Fees for resetting funded accounts are steep,
- 70% profit share is lower than that found elsewhere in the industry.
- Concentrates solely on futures trading.
Conclusion
Purdia Capital is an exciting addition to the online proprietary trading industry, driven by the desire to prioritise its traders’ interests and thereby filling a noticeable gap in the market. Whatever your skillset and level of in the realm of prop trading, we urge you to explore what Purdia Capital has to offer.
The firm’s forward-thinking attitude sets it apart from other similar best futures prop firms. Rather than imposing reset fees on traders when they make mistakes, Purdia Capital regards errors as valuable learning experiences. By actively engaging with traders, the firm gains insights into their perspectives and can incorporate their feedback.
Purdia Capital has cultivated a nurturing environment of collaboration, where traders support each other in achieving success. The firm’s business model is based around earning income from profitable traders, rather than those who are struggling – a fairly novel concept. Nevertheless, do bear in mind that the profit share traders receive is among the lowest in the industry.
We recommend gauging all pros and cons of Purdia Capital and compare it to its main competitors including industry leaders Topstep, Apex Trader Funding, and MyFundedFutures. Each one of these prop firms offer access to multiple account options for undercapitalized traders, enabling them to perform in the futures market. Additionaly there prop firms grant you access to a wider choice of sophisticated trading platforms as well as offering a more attractive payout structure.
To learn more, get all the information you need in our comprehensive prop firm reviews:
Purdia Capital FAQs
What markets can you trade on?
We support futures trading only. To see a full list of tradable products, click here.
Traders must close all open positions by 3:45pm CT each weekday. For more information, click here.
How many accounts can I trade?
Traders are permitted to trade a maximum of two (2) evaluations at a time, and up to one (1) funded account at a time. Any additional evaluations passed while the trader already has a funded account will be placed on hold in case the funded account is closed or lost.
Because we permit traders to scale within their funded account, there is no need to pass multiple evaluations. Details on the scaling plan can be found here.
What are the Funded Account rules?
You must trade for a minimum of ten days in a funded account in order to request a payout, and always keep your balance above the max drawdown.
Click Here to read the full list of rules for the funded accounts.
How does the trailing max drawdown work?
The Trailing Maximum Drawdown (TMD) is a minimum account balance that trails with your profits during the evaluation phase. If your account balance drops below the TMD at any time, your evaluation will be failed.
In the Standard and Fast Track Evaluations, the TMD trails intraday, including on unrealized gains in open trades. In the EOD and Beginner Evaluations, the TMD trails at the end of the trading day, based on the account’s final balance for that day.
For more details, please see this page.
