FAQ

Backed is a prop trading firm for on-chain traders. You trade a simulated account of up to $200K across memecoins, crypto perps, Tradfi markets and prediction markets. Pass the evaluation (or start funded with Instant), stay within the rules and request payouts of your share of the profit.

Launchpad costs the least to start and you only pay to unlock funding after you pass. Flex is the lowest price per dollar of capital, with daily payouts. Sprint is the premium program: a lower target, more room and a 90% split included. Instant is funded from day one with no evaluation.

Compare them side by side in the quick reference.

Every account trades every market: Solana memecoins, crypto perps, forex, indices, metals, energy, US stocks and ETFs, CME-style futures, and prediction markets. See the full list on the markets page.

No. Accounts are simulated: your orders fill against live market prices and order books, but no real positions are opened on any venue. Payouts are paid from your share of the simulated profit.

Choose a program and account size on Get funded, check out, and your account is ready in the app straight away. You can also install the app on your phone from the browser.

By card, and with crypto where available. You can also use Backed balance and discount codes at checkout.

Two limits: the daily loss limit and the max drawdown. Both are measured on equity, so open losses count, and both are checked on every price update. Going past either one ends the account. Accounts also close after a long time without trading.

Details and worked examples are in the rules book.

It is 3% of your starting balance on a Flex evaluation, measured from your equity at the start of the trading day. The trading day runs from 17:00 to 17:00 New York time. If your equity falls that far below where it started the day, the account ends.

Static. The floor is a fixed share of your starting balance (6% below it on a Flex evaluation) and does not trail your profit, so profit gives you more room. On a funded account it moves up to your starting balance once your first payout is paid.

No. Take as long as you need, as long as you trade at least once in the inactivity window (rules book).

A trading day (17:00 to 17:00 New York) on which you close at least 0.2% of your starting balance in profit. No program needs a minimum number of them to pass any more; see the table.

One trade may commit up to 80% of your balance: the cost for memecoins and predictions, the margin for perps. Each market adds its own limits; the ticket always shows the largest size that passes.

Yes. Crypto, memecoins and prediction markets trade around the clock, and you may hold Tradfi positions over the weekend. If a market reopens through one of your limits, the account breaches at the reopening price. Futures positions are still closed every trading day at 4:45pm New York time.

Yes. News and events trading is allowed on every market.

No. Opposite positions on the same market across your accounts (or accounts sharing a device or network) count as hedging, and the profit of the winning side is removed. See prohibited conduct.

80% of the profit you withdraw, or 90% with the profit split add-on. Sprint includes 90%.

Once your funded account has enough green days since the last payout (1 on Flex and Sprint, so you can ask every day), positive closed profit since then, and profit above the buffer that stays in the account. Close every position first. One request per trading day; while it is pending you can close trades but not open new ones.

The full conditions are in the payouts section.

On Flex, profit up to 2% of the starting balance stays in the account; above that you can withdraw up to 3% of the starting balance per payout, rising to 6% after 3 payouts. Ask for any amount from $50 up to that.

Only Instant has one: no single day may be more than 30% of the profit made since your last payout. Keep trading on more days and the share of your biggest day comes down.

Yes, once, before your first payout. It takes about 3 minutes with a photo ID, through our verification provider Veriff, and covers all your accounts.

Each funded account also has a Funded Trader Agreement. Sign it before you trade on that account: you will find it under Contracts in the app.

The amount paid leaves the balance and you keep trading. After your first paid payout the max drawdown floor moves up to your starting balance and stays there.

On Instant and Launchpad funded accounts, from your 3rd payout cycle: if your open loss reaches 1.5% of the starting balance, we close your positions and pause new trades until the 17:00 New York reset. That is a strike. Strike 3 ends the account, and strikes clear after each paid payout. Flex and Sprint have no Protector.

Yes. Launchpad allows up to 5 active accounts at a time; the other programs have no limit. Hedging between your own accounts is not allowed.

You pay $5 to start. After you pass, you pay 1.25% of the account size (rounded up to the next $5; $1,250 on a $100K account) to unlock your funded account, within 14 days of passing.

Yes, with a funded reset: a fresh funded account of the same size and terms for 40% of what you paid (60% the second time), up to 2 times. The offer is on the account page and in the email.

You may get a discounted retry offer in the app. Otherwise start a new account any time.

A 90% profit split (Flex and Instant; Sprint includes it) and no daily drawdown (Flex and Sprint). Add them at checkout or later from the account page. Prices are in the add-ons table.

Place at least one trade every 30 days. We remind you 7 days before the deadline.

Perps and most Tradfi markets are priced from live Hyperliquid order books, memecoins from their live Solana pools, and prediction markets from their live order books. Orders are rejected when a price is stale.

Memecoins 0.5% per buy and sell plus pool slippage; perps and Tradfi 0.045% taker and 0.015% maker plus hourly funding; futures a fixed commission per contract; prediction markets 0.1% per buy and sell. Every fee is shown before you confirm.

Up to 25× on crypto perps, and per asset class on Tradfi. Each market's cap is on the markets page.

Market and limit orders on every market, stop orders on perps and Tradfi, and take-profit and stop-loss on positions.

Tokens launched on Pump.fun, LetsBonk, Bags and the brrr launchpad. Position size is limited by the token’s market cap and pool liquidity.

Only the normal taker fee. There is no extra liquidation penalty.

You earn XP as you trade and level up through eight ranks. Ranks give challenge discounts, and the top ranks get monthly Backed Packs. Track it in the Rewards Hub in the app.

Credit you earn from rewards, packs and calls. Spend it at checkout on new accounts.

Share your referral link from the Referrals page in the app. You earn commission on purchases made by the traders you refer.

A call shares one of your trades with your followers. Others can copy it in one tap, and you earn Backed balance and XP when they do.

Only if you choose. Your Social profile can be public or private, and share cards can hide dollar amounts.

Yes. Create an API key in Settings → API & AI agents, connect Claude, Cursor or another assistant to our MCP server, and it can read your account and, with your approval, place orders. Every order follows the same rules as the app. See the developer docs.

Trading through the API or an AI agent at a normal pace is fine. High-frequency or clockwork-regular order flow is not (bot rules).

600 reads and 60 order writes per minute per key. Keys can be read-only or trade, limited to one account and given an expiry.

Certificates are issued automatically when you are funded, when you pass a Launchpad and for every paid payout. See Certificates.

It depends on your account size, from 1 to 12 full-size contracts. See contract limits.

Every account’s trading day runs from 17:00 to 17:00 New York time. The daily loss limit resets then, and green days are counted on the same boundary.

A short cool-down after bot-like order activity. See Trading paused.