Elites Funding is a Gibraltar-registered CFD prop firm launched in 2023 with three programme types: Standard (2-step), Express (1-step), and Instant Funding. Account sizes run from $25,000 to $200,000 with a scaling path to $500,000. The firm offers a free retake on all evaluation accounts, a 24-hour payout guarantee, and includes crypto futures at no extra cost. Payouts are processed via USDT (ERC20) on demand after a minimum of 10 funded trading days. All trading runs on TradeLocker only.
Rating Breakdown
Pros
- Free retake included on all Standard and Express evaluation accounts
- 24-hour payout guarantee with a $1,000 penalty if breached
- Crypto futures included in the same account with no separate fee
- News trading allowed across all programmes
- No consistency rule during the evaluation phase
- Overnight and weekend holding permitted on all programmes
- Instant Funding option for traders who want to skip the evaluation
- Fee refunded with first payout (after 10 funded trading days)
- 14-day refund window if no trades have been placed
- Scaling path from $25K up to $500K in simulated capital
Cons
- TradeLocker only — no MT4 or MT5 support
- EAs, trading robots, grid trading, and automated systems prohibited
- Payouts via USDT (ERC20) only — no bank transfer or PayPal
- 30% consistency rule applies on funded accounts (not evaluation)
- Free retake has conditions: account loss must stay below 60% of the max allowed loss
- Instant Funding capped at $100K; tighter trailing drawdown rules apply
- Account auto-closes after 30 days of inactivity at any stage
- Exact per-account pricing not listed publicly for all sizes
Account Plans and Pricing
Standard Evaluation Rules (2-Step)
| Evaluation type | Two-step (Phase 1 + Phase 2) |
| Phase 1 profit target | 9% |
| Phase 2 profit target | 5% |
| Time limit | None (account closes after 30 days inactivity) |
| Min. trading days | 5 days per phase |
| Max overall drawdown | 10% static (equity-based, does not reset) |
| Daily loss limit | 5% of starting balance (resets 00:00 GMT) |
| Leverage | Up to 1:100 |
| Consistency rule | None during evaluation |
| Free retake | Yes — available while loss remains below 60% of max allowed loss |
| Fee refund | Returned with first payout (after 10 funded trading days) |
Express Challenge Rules (1-Step)
| Evaluation type | One-step |
| Profit target | 10% |
| Time limit | None (account closes after 30 days inactivity) |
| Min. trading days | 4 days |
| Max overall drawdown | 6% static (equity-based, does not reset) |
| Daily loss limit | 3% of starting balance (resets 00:00 GMT) |
| Leverage | Up to 1:100 |
| Consistency rule | None during evaluation |
| Free retake | Yes — available while loss remains below 60% of max allowed loss |
| Fee refund | Returned with first payout (after 10 funded trading days) |
Instant Funding Rules
| Evaluation type | None — funded from day one |
| Profit target | None |
| Max account size | $100,000 (Instant only; combine with other programmes to reach $500K) |
| Overall trailing drawdown | 5% trailing from highest equity reached |
| Daily trailing drawdown | 3% trailing from highest equity reached today |
| Leverage | Up to 1:50 |
| Min. trading days before payout | 10 trading days |
| Consistency rule | 30% (funded stage) |
| Free retake | Not available on Instant accounts |
| Fee refund | Returned with first payout |
Payouts
| First payout eligibility | On demand after 10 trading days on the funded account |
| Payout processing time | Up to 24 hours (guaranteed — $1,000 penalty if exceeded) |
| Profit split (starting) | 80% |
| Profit split (maximum) | 95% via scaling milestones |
| Payout method | USDT (ERC20) only |
| Minimum payout amount | Equal to or greater than the original challenge fee |
| KYC required | Yes — ID and proof of address via Member Area before first payout |
| Verified total paid | $12M+ to traders globally |
Trading Conditions
| Platform | TradeLocker (web, desktop, mobile) |
| Instruments | Forex, crypto futures, indices, commodities, metals |
| Max leverage (Standard / Express) | 1:100 |
| Max leverage (Instant) | 1:50 |
| News trading | Allowed on all programmes |
| Overnight / weekend holding | Allowed on all programmes |
| Expert Advisors (EAs) | Not permitted |
| Grid trading | Not permitted |
| High-frequency trading | Not permitted |
| Tick scalping | Not permitted |
| Martingale strategies | Not permitted |
| Trade copiers / copy trading | Not permitted |
| Scaling plan | Hit milestones on funded account to increase capital and split up to $500K / 95% |
| Server time | GMT (during daylight saving) |
Our Verdict
The strongest argument for Elites Funding is the free retake. Most CFD prop firms make you buy a new account if you breach the challenge. Elites Funding resets you at no cost, provided your account loss stayed below 60% of the maximum allowed loss. For traders who are close to passing but have one bad session, that is a genuinely useful safety net and a real differentiator against firms like FTMO, FundedNext, and FundingPips where a breach means another full purchase.
The platform situation is a real constraint. TradeLocker is a capable platform with clean execution on desktop and mobile, but it is not MT4 or MT5. Traders who run custom scripts, EAs, or who have years of muscle memory on MetaTrader will need to adapt. More critically, EAs are prohibited entirely at Elites Funding. Automated trading, grid systems, trade copiers, and high-frequency strategies are all banned. This is a firm built for manual traders only. If automation is part of your edge, this is not the right firm.
The payout model has two parts worth understanding before you commit. First, the 30% consistency rule only kicks in once you reach the funded stage, not during the evaluation. That is a cleaner setup than firms that apply the rule throughout the challenge. Second, all payouts are in USDT (ERC20). There is no bank transfer option. If you are in a jurisdiction where crypto payouts create tax or logistical complications, that matters. The 24-hour processing guarantee with a $1,000 penalty for breaches is a credible commitment from a firm at this size. Use the consistency calculator to check whether your funded trading results stay inside the 30% rule before requesting a payout.
The community impression is broadly positive for a firm of this age. Traders on the site’s testimonials mention fast payouts, clean challenge rules, and the free retake as standout features. One recurring note is that some traders expected MT5 support alongside TradeLocker and were surprised to find only one platform option. The firm is transparent about its rules in the FAQ and terms, which reduces the likelihood of unexpected account closures from rule misinterpretation.
Elites Funding suits manual discretionary traders who trade forex, indices, or crypto futures and want lower evaluation costs with a safety net. It is not suited to algo traders, EA users, or traders who need MT4 or MT5. Compared to FXIFY at a similar price point, FXIFY offers more platform choices and a larger track record of payouts. Compared to FTMO, Elites is cheaper at the $100K level ($499 vs ~$510) and includes a free retake that FTMO does not offer. For traders starting out or coming back from a failed challenge, the retake policy alone makes Elites Funding worth serious consideration.
Overall, Elites Funding is a solid option in the mid-tier of CFD prop firms. It is priced competitively, the rules are clearly documented, and the free retake and 24h payout guarantee are real advantages. The TradeLocker-only platform and EA ban are the main reasons it does not score higher. If you trade manually and are comfortable with crypto payouts, the value proposition is strong.
Frequently Asked Questions
Is Elites Funding a legitimate prop firm?
Elites Funding is a registered company in Gibraltar and has been operating since 2023. It has paid out $12M+ to traders across 140+ countries and holds a 4.6-star rating on Trustpilot from around 250 reviews. All trading takes place in a simulated environment using demo funds, which is the standard model for prop firms. It is not a regulated financial institution, which is normal for this type of business. The firm’s FAQ and terms are publicly available and clearly written.
What challenge types does Elites Funding offer?
Elites Funding offers three programmes. Standard is a 2-step evaluation with a 9% Phase 1 target and 5% Phase 2 target, a 10% max drawdown, and a 5% daily loss limit. Express is a 1-step evaluation with a 10% target, 6% max drawdown, and 3% daily loss limit. Instant Funding skips the evaluation entirely, with no profit target but tighter trailing drawdown rules. Account sizes run from $25,000 to $200,000 across Standard and Express, with scaling to $500,000.
What is the drawdown rule at Elites Funding?
Standard uses a static 10% overall drawdown and 5% daily loss, both calculated on starting balance and including floating positions. Express uses a static 6% overall and 3% daily. Instant Funding uses trailing drawdown: 5% overall trailing (from highest equity ever) and 3% daily trailing (from highest equity that day). These reset differently — the overall limit never resets, the daily limit resets at 00:00 GMT. A breach permanently closes the account with no recourse.
What platform does Elites Funding use?
Elites Funding uses TradeLocker exclusively. It is available on web, desktop, and mobile. MT4 and MT5 are not supported on any Elites Funding programme. If you currently trade on MetaTrader, you will need to learn TradeLocker before starting a challenge. The platform supports all the instruments offered — forex, crypto futures, indices, commodities, and metals.
Does Elites Funding allow EAs and automated trading?
No. Expert Advisors, trading robots, trade copiers, grid trading, tick scalping, high-frequency trading, martingale strategies, and arbitrage are all prohibited. Indicators are allowed, but they must support a manual trading approach. Elites Funding is designed for discretionary manual traders. Using automated tools is a breach of the terms and can result in account termination without a payout.
Ready to try Elites Funding?
Free retake on every evaluation. Crypto futures included. 24h payout guarantee. Scales to $500K.
Visit Elites Funding →