Propr

Propr has added products and updated its rules several times since July 2026. The table below lists the main changes, taken from the live rulebook and the terms dated August 26, 2026.

Propr is a crypto prop firm run by Propr Limited in the British Virgin Islands. Traders pay a one-time fee, trade a simulated account priced from Hyperliquid's perpetual futures markets, and keep 80% of the profit once funded. Payouts are made in USDC and published with a transaction hash.

Propr was built by XBorg, a startup studio, and is backed by SwissBorg. The CEO is Louis Regis. Propr is one of the firms covered in our best on-chain prop firms ranking.

All Propr accounts are simulated, funded accounts included. Each trade is treated as a signal. Propr either copies it to Hyperliquid (A-book) or records it internally (B-book), and labels every trade on the trader's dashboard. The trader's P&L is the same either way. Propr also publishes the overall A-book and B-book ratio.

For background on paid evaluations, see our guide to how a prop firm challenge works.

As of September 30, 2026, Propr offers four challenge types in six sizes, from $5,000 to $200,000. Fees range from $25 to $1,998. Each fee is paid once and is non-refundable after the account is activated. There is no reset option. A new challenge can be bought at any time.

How the four Propr challenge types differ

Turbo 1-Step has the lowest fees and the tightest limits. On a $25,000 Turbo account, the daily loss limit is $750 and the max drawdown floor is $24,250. On the first day, both limits sit at the same level.

Pro 1-Step gives 5% of drawdown room with a 12% target. Classic 1-Step gives 6% of room with a 10% target. Classic 2-Step splits the target into two phases with 8% of trailing room.

None of the four types has a time limit or a minimum number of trading days. A challenge can be passed in a single trade.

Every Propr account has two limits: a maximum daily loss and a maximum drawdown. Both are checked against equity, which includes floating P&L on open trades. If equity touches either limit, open positions are closed and the account ends. Propr has no other trading rules on top of these two limits.

What is Propr's daily loss limit?

Propr's daily loss limit is 3% of start-of-day balance on 1-Step accounts and 5% on the 2-Step. It resets at 00:00 UTC. Since the July 27, 2026 update (v1.0.5), the limit is recalculated each day from that day's balance, so it rises as profit is banked and adjusts after losing days.

For example, a $100,000 2-Step account that opens the day at $100,000 has a $5,000 limit. If it opens the next day at $105,000, the limit becomes $5,250. If it opens at $90,000, the limit becomes $4,500.

What are Propr's drawdown rules?

Propr uses static drawdown on all three 1-Step types and trailing drawdown on the Classic 2-Step. Static floors sit 6% (Classic), 5% (Pro) and 3% (Turbo) below the starting balance and never move. The 2-Step floor sits 8% below the high-water mark and stops rising once it reaches the starting balance.

With static drawdown, profit adds to the room above the floor. A $50,000 Classic 1-Step floor stays at $47,000 even if the account grows to $60,000.

On the 2-Step, the current rulebook states that the high-water mark includes open profit. On a $100,000 account, an open trade that reaches $105,000 moves the floor to $97,000. The floor stays there even if the trade is closed at $100,000. Once the high-water mark reaches $108,000, the floor stays at $100,000 for good.

Funded account rules

The same daily loss and drawdown limits apply on funded accounts. Funded accounts have no profit target.

Propr publishes a rulebook and a separate set of terms. As of September 30, 2026, the two documents describe five topics differently. The terms state that their main text takes priority when documents differ. Traders can confirm any of these points with Propr support before trading.

Propr keeps a dated public changelog and has made five rule updates since launching in February 2026. The full Propr terms and conditions are on propr.xyz.

Propr runs on its own web terminal rather than MetaTrader 5, cTrader, TradeLocker or DXtrade. Prices come from Hyperliquid, and propr.xyz lists 160+ markets across crypto, equity, commodity, index and FX perpetuals. The market list follows Hyperliquid's listings, so it can change over time.

Propr leverage by asset

Using leverage is optional. As a reference, a full 10x position on a $50,000 account is worth $500,000. At that size, a 0.3% price move equals the $1,500 daily loss limit on a Classic 1-Step.

Fees and funding rates

Propr passes Hyperliquid's maker and taker fees through at cost with no markup. There are no monthly, platform, data or withdrawal fees. Funding rates on perpetual futures are charged or credited to the account and count toward equity.

API and trading bots

Propr has a REST API with Python and JS SDKs. The homepage says over 300 agents run on the platform. Automated trading is permitted, subject to the terms noted above.

Prediction markets

Propr's FAQ lists prediction markets on Polymarket as a separate account type. On September 30, 2026, the challenge selector shows the Predictions tab as "Soon."

What is Propr's profit split?

Propr pays a flat 80% of funded profits on every account size and challenge type, with no scaling tiers. Payouts are available on demand from the first day of funding, with a $20 minimum and no limit on requests. They are paid in USDC, and each one is published with its transaction hash.

Each payout withdraws all available profit and resets the account to its starting balance. For example, a $50,000 Classic 1-Step at $56,000 pays $4,800 to the trader and returns to $50,000, with the floor at $47,000.

The evaluation fee is not refunded after a payout.

Payout history, revenue and pass rate are published on the Propr transparency dashboard. Propr said on X that over $880,000 was paid to traders in August 2026.

As of September 30, 2026, Propr accepts traders from the United States and the United Kingdom. Both were removed from the restricted list between July and the terms update on August 26, 2026. Propr now restricts about 30 named countries, plus any OFAC-sanctioned jurisdiction.

The restricted list is Bangladesh, Belarus, Burkina Faso, Central African Republic, Congo, Cuba, Ethiopia, Haiti, Iran, Iraq, Kazakhstan, Kyrgyzstan, Lebanon, Libya, Mali, Myanmar, Nigeria, North Korea, Pakistan, Russia, Somalia, South Sudan, Sudan, Syria, Tajikistan, Turkmenistan, Uzbekistan, Venezuela, Yemen and Zimbabwe, plus the Crimea, Donetsk and Luhansk regions of Ukraine.

Access from a restricted country, including through a VPN, results in account termination with no refund or payout. In a Trustpilot reply, Propr said traders in newly restricted countries were allowed to finish their existing accounts or receive a refund.

KYC

KYC is not needed to buy a challenge. It is completed before a funded account is activated. Propr asks for a government ID and a live selfie, with no proof of address. Propr says verification usually takes about five minutes and can be done from the dashboard at any time.

For codes on other firms, see our prop firm coupon codes list.

Propr is operated by Propr Limited (Reg. No. 2211330) at Trinity Chambers, Road Town, Tortola, British Virgin Islands, and is backed by SwissBorg. Every payout is published on-chain with a transaction hash. As of September 30, 2026, reviewers mainly raise platform and support topics rather than refused payouts.

As of September 30, 2026, Propr has a 4.1 score from 75 reviews on Propr's Trustpilot page. 81% of reviews are 5 stars and 15% are 1 star. Positive reviews mention payout speed, support staff, and on-chain verification. Negative reviews mention lag during busy periods, stop-loss and take-profit order issues, a third-party payment provider issue in early September, and support response times. Propr has replied to 71% of negative reviews and usually replies within 24 hours. The CEO said the firm is adding support staff to keep up with user growth.

Propr says it resets or refunds accounts affected by platform bugs. Its terms ask traders to report technical issues by email or Discord with the date and time before placing further trades.

Propr states that it is not regulated as a financial service, which is standard for prop firms that do not hold client funds. For a general checklist, see our guide on how to tell if a prop firm is legitimate.

The $PROPR token

Propr has announced a token called $PROPR. Its roadmap lists an August 24, 2026 launch. We found no official launch announcement as of September 30, 2026. The token does not affect challenge rules or payouts, which are paid in USDC. [verify: check Propr's X account for a new date before publishing]

Two other crypto-focused firms with similar products are Carrot Funding, which is also powered by Hyperliquid, and HyroTrader, which connects through Bybit.

Carrot Funding's 2-Phase challenge has a 5% daily loss and a 10% max loss, with a consistency score and leverage up to 5x. HyroTrader refunds the challenge fee with the first payout and scales its split up to 90%. HyroTrader has a FundedTrading code, FT10, for 10% off.

For more options, see our best crypto prop firms ranking or the prop firm comparison tool.

Propr is a Hyperliquid-based crypto prop firm that publishes its payouts, hedging wallets and A-book ratio. As of September 2026, it offers four challenge types from $25 to $1,998, a flat 80% split, on-demand USDC payouts, and access for US and UK traders.

The rules come down to two equity limits, with static drawdown on 1-Step accounts and trailing drawdown on the 2-Step. Traders who plan to copy trades or run bots can read the terms alongside the rulebook, since the two describe those topics differently.