01Overview#
Backed gives traders simulated accounts from $1.25K to $200K to trade memecoins, perpetual futures, Tradfi markets and prediction markets, all from one account. Pass the evaluation (or start funded with Instant), keep within the rules, and request payouts of the profit you make.
These are the rules from 8 October 2026 (version 2.0). An account bought before then keeps the rules it was bought on; the app shows which version each account runs on.
The rules below apply to every account. The numbers on this page are read live from the same rules engine your account runs on, so they always match what you see in the app. Your account's own rules are also under Account details → Rules.
Two limits decide everything
Your account has a daily loss limit and a max drawdown. Both are measured on equity, so open losses count, and both are checked on every price update in every market. Going past either one ends the account. Everything else on this page either limits how big a single trade can be or explains how payouts work. The trading day runs from 17:00 to 17:00 New York time.
02Programs and prices#
Four programs. Every one of them trades every market. You choose the account size; the price follows from it, and bigger accounts cost less per dollar.
| Program | Account sizes | Price | Evaluation | Funded |
|---|---|---|---|---|
| Launchpad | $2.5K – $200K | $5 to start, then 1.25% of the account size (rounded up to $5) to unlock funding within 14 days of passing | 1 phase, 4% target | After you pass |
| Flex | $1.25K – $200K | From $5 ($1.25K); $100K is $380 | 1 phase, 9% target | After you pass |
| Sprint | $2K – $200K | From $15 ($2K); $100K is $680 | 1 phase, 8% target | After you pass |
| Instant | $2.5K – $100K | From $40 ($2.5K); $100K is $1,500 | None | From day one |
| Account size | Launchpad | Flex | Sprint | Instant |
|---|---|---|---|---|
| $10K | $5 + $125 | $40 | $75 | $160 |
| $25K | $5 + $315 | $100 | $180 | $400 |
| $50K | $5 + $625 | $200 | $355 | $775 |
| $100K | $5 + $1,250 | $380 | $680 | $1,500 |
| $200K | $5 + $2,500 | $720 | $1,300 | — |
Sizes in between move in even steps along the price ladder: every step adds the same capital for the same price, and the steps get bigger and cheaper per dollar as the account grows (on Flex, $5 buys $1,250 at the start of the ladder). The checkout shows every step. If you type a size, it rounds up to the next step; if you type an amount to pay, you get the biggest account it covers. Prices are before any discount code or Backed balance you use at checkout.
03How it works#
- 01ChoosePick a program and account size, add any add-ons, and check out.
- 02EvaluateReach the profit target with enough profit days while staying inside both drawdown limits.
- 03Get fundedPass and your funded account opens automatically (Launchpad: after you pay the unlock fee). Instant starts here.
- 04Get paidTrade the funded account and request payouts of your share of the profit once the payout conditions are met.
04Definitions#
| Term | Meaning |
|---|---|
| Starting balance | The account size you bought. Drawdown limits and targets are percentages of it. |
| Balance | Starting balance plus closed (realised) profit and loss, after fees. |
| Equity | Balance plus the profit or loss of your open positions at the latest price. |
| Trading day | From 17:00 to 17:00 New York time. The daily loss limit resets and the day is counted at 17:00 New York. |
| Day-open equity | Your equity at the 17:00 New York reset. The daily loss limit is measured from it. |
| Breach | Equity falling to the daily loss limit or the max drawdown. It ends the account. |
| Profit day | A trading day on which you close at least 0.2% of the starting balance in profit (evaluations). |
| Green day | A trading day on a funded account with at least one trade opened or closed and a closed profit of at least 0.2% of the starting balance (payouts). |
| Profit split | The share of the profit you withdraw that is paid to you. |
05Profit target and profit days#
To pass, your balance must reach the target and you need enough profit days.
| Program | Profit target | Profit days needed | A profit day is |
|---|---|---|---|
| Launchpad | 4% | 0 | ≥ 0.2% closed profit |
| Flex | 9% | 0 | ≥ 0.2% closed profit |
| Sprint | 8% | 0 | ≥ 0.2% closed profit |
- Starting balance
- $50,000
- Profit target (9%)
- $4,500
- Pass when balance reaches
- $54,500
- A profit day: closed profit of at least
- $100
Profit days needed0
Open profit does not count toward the target; close the trade to bank it.
06Daily loss limit#
How much your equity may fall within one trading day (17:00 to 17:00 New York).
daily floor = equity at the 17:00 New York reset − (daily loss % × starting balance)
breach when equity ≤ daily floor (checked on every price update)
breach when equity ≤ daily floor (checked on every price update)
| Program | Evaluation | Funded |
|---|---|---|
| Launchpad | 6% | 3% |
| Flex | 3% | 3% |
| Sprint | 4% | 4% |
| Instant | — | 3% |
- Equity at the 17:00 New York reset
- $51,200
- Daily loss limit (3% of the starting balance)
- −$1,500
- Daily floor
- $49,700
- Equity now (one trade open, −$900)
- $50,300
Room left today$600
The floor resets at 17:00 New York time, from your equity at that moment. The No daily drawdown add-on removes this limit.
07Max drawdown#
How far your equity may ever fall below the starting balance.
max drawdown floor = starting balance − (max drawdown % × starting balance)
breach when equity ≤ floor (checked on every price update)
breach when equity ≤ floor (checked on every price update)
| Program | Evaluation | Funded | Model |
|---|---|---|---|
| Launchpad | 12% | 6% | fixed at your starting balance; it never moves |
| Flex | 6% | 6% | fixed at your starting balance; it never moves |
| Sprint | 7% | 7% | fixed at your starting balance; it never moves |
| Instant | — | 6% | fixed at your starting balance; it never moves |
- Starting balance
- $50,000
- Max drawdown (6%)
- −$3,000
- Floor
- $47,000
- Balance after a good week
- $54,000
Floor after the good week$47,000
The floor never trails your gains, so profit gives you more room. After your first paid payout it moves up to your starting balance and stays there.
- Balance
- $47,500
- Open trade
- −$1,600
- Equity
- $45,900
- Floor
- $47,000
ResultBreach
Even though no trade was closed at a loss, equity crossed the floor, so the account ends.
08Breaches#
- A breach is final. The account stops trading at once and every open position is closed at the market price.
- Markets that close for the weekend can reopen at a different price. If the reopening price takes your equity through a limit, the account breaches at that price.
- You get a notification and an email.
- A funded account that ends can be brought back with a funded reset (section 17). A failed evaluation may get a discounted retry offer.
- A breach on one account never affects your other accounts.
Breaches are checked on equity, everywhere
A sharp move in any market you hold can breach the account even if you are not watching. Size positions with both limits in mind and use stop-losses.
09Position size and exposure#
One rule covers every market: a single trade may commit at most 80% of your balance. Committed capital is the cost of the position for memecoins and prediction markets, and the margin (size ÷ leverage) for perps and Tradfi. Orders that only reduce a position are never limited. If an order is too big, the ticket shows the largest size that passes.
| Limit | Value |
|---|---|
| Max committed capital per trade | 80% of balance |
| Total perps and Tradfi margin | 100% of balance |
| All memecoin positions together | 30% of the account |
| Open positions | Unlimited |
| Open prediction positions | 20 |
- Max committed per trade (80%)
- $40,000
- Perps at 10× leverage: largest position
- $400,000
- Memecoin: largest buy (per-token cap applies first)
- $2,500
10Inactivity#
Place at least one trade every 30 days. We remind you 7 days before the deadline. An account with no trade for 30 days closes.
11Memecoins#
Solana tokens from the launchpads we support, priced from their live pools.
| Rule | Value |
|---|---|
| Tradable tokens | Pump.fun, LetsBonk, Bags and brrr launchpad tokens |
| One token, as a share of the account | 5% (Launchpad funded: 3%) |
| All memecoins together | 30% |
| Position as a share of the token’s market cap | 0.5% |
| One fill as a share of pool liquidity | 25% |
| Trades opened in any 60 minutes | 30 |
| Profit one token position can make | 3% of the starting balance |
| Trading fee | 0.5% |
- Fills are at the live pool price with slippage that grows with your size relative to the pool, shown before you confirm.
- Profit above the per-token cap is removed when you sell (a deduction in your statement), so one lucky token cannot make the account.
- A token you hold is written off at $0 (you lose what you put in) if its pool liquidity falls to $100 or less, or it has had no price for 10 minutes while our feed is running.
12Perpetuals#
Crypto perpetual futures priced from live order books.
| Rule | Value |
|---|---|
| Leverage | Up to 25× (or the market’s own maximum, if lower) |
| Margin modes | Cross or isolated |
| Total margin in use | Up to 100% of balance |
| Taker fee | 0.045% |
| Maker fee (resting limit orders) | 0.015% |
| Funding | Paid or received as on the venue, every hour |
| Liquidation | Only the normal taker fee, no extra penalty |
Every market and its leverage cap is listed on the markets page.
13Tradfi#
Forex, index CFDs, metals, energy, US stocks and ETFs, and CME-style futures, on the same account.
| Asset class | Max leverage | Instant accounts |
|---|---|---|
| Forex | 50× | 30× |
| Indices, gold and silver | 20× | 10× |
| Oil, gas and other commodities | 10× | 5× |
| Stocks and ETFs | 5× | 3× |
| Market | New positions open | Notes |
|---|---|---|
| Forex | Sunday 5pm to Friday 5pm New York time | |
| Indices, metals, energy | Sunday 6pm to Friday 5pm New York time, with a daily pause 5pm–6pm | |
| Stocks and ETFs | weekdays 9:30am to 4pm New York time | US market holidays closed |
| Futures | Sunday 6pm to Friday 4:45pm New York time, closing 4:45pm–6pm each day | Every futures position is closed at 4:45pm New York time each trading day |
- Closing a position always works, even when the market is shut.
- 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: every account can trade every contract, NQ included. Your contract limit follows your account size: under $25,000 1 full-size (10 micros), $25,000 2 full-size (20 micros), $50,000 4 full-size (40 micros), $100,000 6 full-size (60 micros), $150,000 10 full-size (100 micros), $200,000 and up 12 full-size (120 micros). One full-size contract counts as 10 micros. Each open contract holds a day margin of $500 (micro $50). A fixed commission per contract applies, shown in the ticket.
14Prediction markets#
Real prediction markets on politics, sports, crypto, economics and more.
| Rule | Value |
|---|---|
| Entry price | 5¢ to 95¢ per share |
| Market volume needed | $50,000 or more |
| Order book depth needed (your side) | $5,000 or more |
| One fill as a share of the book at that price | 3% |
| One event, across its linked markets | 20% of the account |
| Minimum hold before selling | 1 minute |
| Resting limit orders | Up to 10, within 25% of the best price, expire after 24 hours |
| Open prediction positions | 20 |
| Trading fee (buys and sells) | 0.1% |
| Entry price | Max position |
|---|---|
| 35¢ – 65¢ | 25% |
| 20¢ – 35¢ or 65¢ – 80¢ | 15% |
| 10¢ – 20¢ or 80¢ – 90¢ | 7.5% |
| 5¢ – 10¢ or 90¢ – 95¢ | 3% |
- Positions settle automatically when the market resolves. No fee on settlement.
- A voided market is unwound at your entry price with no profit or loss.
- Crypto Up/Down rounds shorter than 15 minutes are not listed.
15Funded account rules#
Stays the same
- Every market and every per-trade limit
- Equity-based daily loss limit and max drawdown
- Inactivity, fair-play and AI trading rules
Changes
- No profit target and no profit days
- Drawdown limits per the funded column (section 7)
- Payout rules apply (section 16)
- After the first paid payout, the max drawdown floor sits at the starting balance
Backed Protector (Launchpad and Instant funded accounts). From your 3rd payout cycle, if your open loss reaches 1.5% of the starting balance, every position is closed and new trades pause until the next 17:00 New York reset. Each time is a strike: the first is a warning, the second a final warning, and strike 3 ends the account. Strikes clear after every paid payout.
- Starting balance
- $50,000
- Protector limit (1.5%)
- −$750
- Open trades now
- −$790
ResultPositions closed, strike 1
Trading resumes at the 17:00 New York reset. Closed losses still count toward your drawdown limits.
16Payouts#
Request a payout from the account page once the conditions below are met.
80%profit split, 90% on Sprint, or 90% with the profit split add-on
| Program | Green days | Stays in the account | Max per payout | Consistency | Split |
|---|---|---|---|---|---|
| Launchpad | 5 | 3% of starting balance | 2%, then 4% after 3 payouts | None | 80% |
| Flex | 1 | 2% of starting balance | 3%, then 6% after 3 payouts | None | 80% |
| Sprint | 1 | 1% of starting balance | 4%, then 8% after 3 payouts | None | 90% |
| Instant | 3 | 4% of starting balance | 4%, then 8% after 3 payouts | ≤ 30% per day | 80% |
- Green days: days with at least one trade opened or closed and closed profit of at least 0.2% of the starting balance, counted since your last payout (or since funding).
- Your closed profit since the last payout must be positive.
- Profit up to the buffer stays in the account as a cushion; only profit above it can be withdrawn, up to the per-payout cap.
- Consistency: no single day may be more than the shown share of the profit made since your last payout.
- Close every position and cancel working orders before you request. While a request is pending you can close trades but not open new ones.
- Ask for any amount from $50 up to the most allowed. One request per trading day, one open request at a time.
- Before your first payout: sign the Funded Trader Agreement for the account and verify your identity once.
- Balance
- $54,000
- Profit
- $4,000
- Stays in (2% buffer)
- −$1,000
- Can be withdrawn (max 3% per payout)
- $1,500
- Your share (80%)
- $1,200
Paid to you$1,200
After a payout the withdrawn amount leaves the balance. After your first paid payout the max drawdown floor moves up to your starting balance.
17Funded reset#
If a funded account hits a drawdown limit, you can reset it: a fresh funded account of the same size on the same terms, with no new evaluation. The offer is on the account page and in the email you get when the account ends.
| Reset | Price |
|---|---|
| First reset | 40% of what you paid for the account |
| Second reset | 60% of what you paid for the account |
18Add-ons#
Optional upgrades at checkout or any time later from the account page, priced as a share of the account’s price and rounded up to the next $5.
| Add-on | What it does | Price | Programs |
|---|---|---|---|
| No daily drawdown | Removes the daily loss limit. The max drawdown still applies. | +35% of the price | Flex, Sprint |
| 90% profit split | Keep 90% of the profit you withdraw instead of 80%. | +20% of the price | Flex, Instant |
19What is allowed#
We care about how you manage risk, not about your style.
| Practice | Status |
|---|---|
| Trading news and events | Allowed |
| Holding overnight and over the weekend (crypto, memecoins, predictions) | Allowed |
| Holding Tradfi over the weekend | Allowed |
| Scalping and short holds (within the memecoin trades-per-hour limit and the prediction minimum hold) | Allowed |
| Trading with AI agents or your own code at a normal pace | Allowed |
| Copying calls from other Backed traders | Allowed |
| Several accounts at once | Allowed |
| Hedging between your own accounts | Not allowed |
| High-frequency or clockwork bot orders | Not allowed |
20Prohibited conduct#
These are checked automatically every minute. Actions are shown in your statement with a label, and staff can restore anything removed in error.
| Conduct | How it is detected | What happens |
|---|---|---|
| Hedging between linked accounts | Opposite positions on the same market across your accounts, or accounts sharing a device or network, opened within 5 minutes of each other with sizes within 50%. | The profit of the winning side is removed when both have closed. |
| Bot or spam trading | More than 20 orders in any minute, 8 orders in a row with clockwork timing, or orders at the same second for 5 minutes running. | First time: profit from those trades is removed and trading pauses for 60 minutes. Again within 72 hours: the account ends. |
| Unusual win streaks | 10 winning trades in a row, in any market. | The streak’s profit is held while we review it, and returned if everything is fine. |
| Insider trading, self-launched tokens, pumping or rugging a token you hold | Reviews of on-chain activity around your trades. | Confirmed cases can end the account and forfeit its profit. |
| Account sharing, selling or using several identities | Device, network and identity checks. | Confirmed cases can end every linked account. |
| Exploiting price errors or stale prices | Orders are rejected when a price is stale; trades are reviewed. | Profit from the exploit can be removed. |
21AI and API trading#
- You can trade with an AI assistant (Claude, Cursor and others through our MCP server) or your own code through the API. Create keys in Settings → API & AI agents.
- Every order placed with a key goes through exactly the same rules as the app. A breach caused by an agent ends the account like any other.
- Keys are read-only or trade; restrict a key to one account and give it an expiry. Limits: 600 reads and 60 order writes per minute per key.
- Trading at a normal pace is fine; the bot rules in section 20 apply to everyone.
Full details are in the developer docs.
22KYC and account limits#
- Funded accounts: sign the Funded Trader Agreement for the account before you trade on it (Contracts in the app, a couple of minutes). Before your first payout, verify your identity once (about 3 minutes with a photo ID, through our verification provider Veriff).
- Launchpad: up to 5 active accounts at a time. Other programs: no limit.
- Funded capital across all your accounts: up to $400,000. Evaluation accounts do not count toward it.
- One person, one profile. Accounts may not be shared, sold or transferred.
23Fees and costs#
| Cost | Amount |
|---|---|
| Account price | Per program and size (section 2) |
| Memecoins | 0.5% of each buy and sell, plus pool slippage |
| Perps and Tradfi | 0.045% taker · 0.015% maker, plus funding |
| Futures | Fixed commission per contract per side |
| Prediction markets | 0.1% of each buy and sell, none on settlement |
No hidden fees
Every trading fee is shown in the order ticket before you confirm and in your statement after.
24Quick reference#
| Launchpad | Flex | Sprint | Instant | |
|---|---|---|---|---|
| Profit target | 4% | 9% | 8% | None |
| Profit days | 0 | 0 | 0 | — |
| Daily loss (evaluation) | 6% | 3% | 4% | — |
| Max drawdown (evaluation) | 12% | 6% | 7% | — |
| Daily loss (funded) | 3% | 3% | 4% | 3% |
| Max drawdown (funded) | 6% | 6% | 7% | 6% |
| Profit split | 80% | 80% | 90% | 80% |
| Green days per payout | 5 | 1 | 1 | 3 |
| Payout buffer | 3% | 2% | 1% | 4% |
| Max per payout | 2% → 4% | 3% → 6% | 4% → 8% | 4% → 8% |
| Consistency | None | None | None | 30% |
| Backed Protector | From payout 3 | None | None | From payout 3 |
| Max position per trade | 80% | 80% | 80% | 80% |
| Crypto perps leverage | 25× | 25× | 25× | 25× |
| Time limit | None | None | None | None |
25Rules changelog#
- v2.08 October 2026
New prices and rules for every program
- Prices move along a ladder: bigger accounts cost less per dollar. A $100K account is $380 on Flex, $680 on Sprint and $1,500 on Instant; Launchpad stays $5 to start, with a 1.25% unlock fee once you pass.
- The trading day now runs 17:00 to 17:00 New York time. The daily loss limit is a share of your starting balance, measured from your equity at the 17:00 reset.
- No minimum trading days on any program. Flex: 9% target, 6% max drawdown, 3% daily. Sprint becomes the premium program: 8% target, 7% / 4%, 90% profit split included.
- Payouts every day on Flex and Sprint after one green day; partial amounts; one request per day; positions must be closed to request one.
- After your first paid payout the max drawdown floor moves up to your starting balance.
- Backed Protector on Instant and Launchpad funded accounts, from the third payout.
- Weekend holding and news trading are allowed for everyone. Add-ons: 90% split (+20%) and No daily drawdown (+35%).
- Accounts bought before 8 October 2026 keep the rules they were bought on (version 1.0).
- v1.05 October 2026
First publication
- The complete rules for Launchpad, Flex, Sprint and Instant accounts across memecoins, perps, Tradfi and prediction markets.
- Funded reset prices and limits.
Numbers on this page update automatically when a rule changes. Terms last changed 26 October 2026.