Propr is a prop firm that lives or dies by one claim: everything is verifiable. Not just payouts. Every A-booked trade is on-chain, pass rates and revenue are published at propr.xyz/transparency in real time, and every payout transaction hash is publicly listed. For a space that runs almost entirely on trust-me accounting, that matters.
The firm is registered in the British Virgin Islands as Propr Limited (Reg. No. 2211330), launched in early 2026, and backed by SwissBorg with $1.5M in seed funding. Trading runs on Hyperliquid for 150+ perpetual markets across crypto, equities, commodities, and forex. Prediction markets via Polymarket are also available. Over 1,000 AI agents trade on the platform through the REST API, Python SDK, and JavaScript SDK. CEO Louis Regis is publicly named and active on Trustpilot and Discord.
Three evaluation types are available across five confirmed account sizes ($5K, $10K, $25K, $50K, $100K). Classic 1-Step: 10% target, 6% static drawdown, fees from $60 to $999. Turbo 1-Step: 9% target, 3% static drawdown, fees from $25 to $450. Classic 2-Step: 5% then 10% target, 5% daily loss, 8% trailing drawdown, fees from $50 to $749. All sizes have fully published rules at propr.xyz/rules. Maximum aggregate funded balance is $300K across all accounts.
Funded traders keep 80% of profits. Payouts are on-demand in USDC on-chain, average about 5 hours, and carry no waiting period. The $20 minimum and no cap on requests are the only payout constraints. The catch is the age of the firm. Propr hit infrastructure strain in June 2026 as growth outpaced capacity, causing latency issues and some false breaches. Louis Regis responded publicly and issued refunds for platform-caused breaches. That is the right move. But the payout track record is still short, and US, UK, and Russian traders cannot use the platform at all.
Score cap applied. Our score for Propr is capped at 7.0 under our published scoring caps, because the firm launched in 2026 and has under 12 months of payout history. Its payout dimension is also capped at 6.5 for the same reason. This is not a criticism of Propr, which publishes more verifiable payout data than almost any firm we cover. It is a limit on what can be proven yet. The cap lifts once there are 12 months of verifiable payouts.
Rating Breakdown
Pros
- Every A-booked trade verifiable on-chain; every payout has a published transaction hash
- Publishes pass rates and revenue in real time, unlike any traditional prop firm
- Three evaluation types with full published rules across five account sizes
- Flat 80% profit split, no scaling conditions or tiers
- Turbo eval from $25 for a $5K account; lowest-cost entry in on-chain prop trading
- No time limit, no minimum trading days, no consistency rule on any plan
- On-demand payouts averaging about 5 hours, minimum $20
- 150+ perpetual markets plus Polymarket prediction market access
- REST API, Python SDK, and JavaScript SDK support agents and algos
- SwissBorg-backed; CEO publicly named and responsive
- No KYC required to start trading; required only before funded account access
- $300K maximum aggregate funded balance across accounts
Cons
- Launched early 2026; payout track record is limited
- Platform hit infrastructure strain in June 2026, causing latency and some false breaches
- US, UK, and Russia traders are excluded entirely
- B-Book execution applies to some trades (labeled per trade, but conflicts of interest exist)
- Entirely dependent on Hyperliquid uptime and liquidity
- Maximum 2x leverage on most crypto perpetuals (tight for some strategies)
- Not regulated by any financial authority
- Payout sweeps full profit and resets balance; no partial withdrawals
Evaluation Plans and Full Pricing
All three evaluation types are available across five account sizes. Fees are one-time and non-refundable once the account is activated. The $5K account is only available via Classic 1-Step and Turbo, not 2-Step.
Classic 1-Step — 10% target, 3% daily loss, 6% static drawdown
| Account Size | Fee | Profit Target | Daily Loss Limit | Max Drawdown Floor |
|---|---|---|---|---|
| $5,000 | $60 | $500 | $150/day | $4,700 |
| $10,000 | $110 | $1,000 | $300/day | $9,400 |
| $25,000 | $275 | $2,500 | $750/day | $23,500 |
| $50,000 | $495 | $5,000 | $1,500/day | $47,000 |
| $100,000 | $999 | $10,000 | $3,000/day | $94,000 |
Turbo 1-Step — 9% target, 3% daily loss, 3% static drawdown (tighter buffer, lower fee)
| Account Size | Fee | Profit Target | Daily Loss Limit | Max Drawdown Floor |
|---|---|---|---|---|
| $5,000 | $25 | $450 | $150/day | $4,850 |
| $10,000 | $50 | $900 | $300/day | $9,700 |
| $25,000 | $125 | $2,250 | $750/day | $24,250 |
| $50,000 | $245 | $4,500 | $1,500/day | $48,500 |
| $100,000 | $450 | $9,000 | $3,000/day | $97,000 |
Classic 2-Step — 5% then 10% target, 5% daily loss, 8% trailing drawdown
| Account Size | Fee | Step 1 Target | Step 2 Target | Daily Loss Limit |
|---|---|---|---|---|
| $5,000 | $50 | $250 | $500 | $250/day |
| $10,000 | $100 | $500 | $1,000 | $500/day |
| $25,000 | $250 | $1,250 | $2,500 | $1,250/day |
| $50,000 | $450 | $2,500 | $5,000 | $2,500/day |
| $100,000 | $749 | $5,000 | $10,000 | $5,000/day |
Choosing Between 1-Step and 2-Step
| Drawdown type | Static (1-Step) vs Trailing (2-Step) — trailing drawdown follows your highest realized balance and stops trailing once it reaches starting balance |
| Daily loss limit | 3% of starting balance (1-Step) vs 5% of starting balance (2-Step). Limit never drops below the starting balance amount, grows as you bank profit |
| Profit target | Single target: 10% Classic or 9% Turbo (1-Step) vs two targets: 5% then 10% (2-Step) |
| Speed | 1-Step is faster; you can pass in a single trade with no time limit either way |
| Cost | 2-Step fees are slightly below Classic 1-Step for the same account size |
| Funded rules carry over | Same drawdown rules apply on the funded account as on the evaluation |
Challenge Rules
| Evaluation types | Classic 1-Step, Turbo 1-Step, Classic 2-Step |
| Profit target | 10% Classic / 9% Turbo / 5%+10% 2-Step — balance-based (realized P&L only) |
| Daily loss limit | 3% of starting balance (1-Step); 5% of starting balance (2-Step). Resets 00:00 UTC. Equity-based enforcement. |
| Max drawdown | 6% static from start (Classic 1-Step); 3% static (Turbo); 8% trailing from HWM (2-Step) |
| Breach behavior | Permanent. No resets, no resets, no appeals. A momentary touch of the equity floor triggers breach including floating P&L. |
| Time limit | None on any plan |
| Min. trading days | None on any plan |
| Consistency rule | None. No cap on single-day profit as a percentage of total. |
| Pass condition | Reach profit target on balance (closed trades). Passing is automatic. |
Payouts
| Profit split | 80% to trader, flat across all account types and sizes. No scaling tiers. |
| Payout frequency | On-demand; no scheduled waiting period; unlimited requests |
| Average payout time | About 5 hours. Every payout published with a transaction hash at propr.xyz/transparency. |
| Minimum withdrawal | $20 |
| Currency | USDC, settled on-chain |
| Payout mechanics | Full profit sweep only. Each payout takes all profit above starting balance and resets the account. No partial withdrawals. |
| KYC requirement | Not required to open or trade an evaluation. Required before funded account access. Takes about 5 minutes. |
| Open positions | All positions must be closed before requesting a payout |
| Payout calculation | (Current Balance − Starting Balance) × 0.80 |
Leverage Limits
Leverage is applied automatically. Traders may use any amount up to the limit. Most crypto perpetuals are capped at 2x, which is conservative compared to traditional prop firms.
| BTC and ETH perpetuals | 5x maximum |
| Other crypto perpetuals | 2x maximum |
| Equity perpetuals | 4x maximum |
| S&P 500 and XYZ100 indices | 10x maximum |
| Other index perpetuals | 5x maximum |
| Commodity perpetuals | 5x maximum |
| FX perpetuals | 25x maximum |
Platform and Trading Conditions
| Platform | Hyperliquid for perpetuals; Polymarket for prediction markets. Custom terminal, not MetaTrader. |
| Markets | 150+ perpetual contracts across crypto, equities, commodities, and forex; plus Polymarket prediction markets |
| API and SDK access | Full REST API plus Python and JavaScript SDKs. Over 1,000 AI agents currently trade on the platform. |
| Trading fees | Standard Hyperliquid maker/taker fees, passed through at cost. No markup. Fees count against your equity. |
| Funding rates | Standard perpetual funding rates apply and are deducted/credited automatically |
| Market hours | 24/7 for crypto. Equity and commodity perps follow standard market hours. |
| Account size range | $5,000 to $100,000 per account. Maximum $300,000 aggregate across all accounts. |
What Propr Does Not Restrict
The only trading rules are the two equity limits (daily loss and max drawdown). Everything below is explicitly unrestricted in the official rulebook.
On-Chain Transparency and A/B Booking
Propr runs a hybrid execution model. Every trade is labeled on your dashboard as A-booked or B-booked.
The conflict of interest is real and disclosed. On B-booked trades, Propr earns when you lose. That is the standard prop firm model. What is different here is that the model is labelled per trade and the aggregate ratio is published. Most firms never confirm which model they use.
Points and Rewards
Propr runs a gamified points system. Points are earned by trading, completing evaluations, and referring other traders. The site indicates points earned today will unlock future rewards. Specific redemption mechanics and token conversion details have not been fully published at the time of this review. Based on community data, purchasing and completing a $25K evaluation generates approximately 28,000 points at standard rates, with double-point periods running periodically. The planned token (PROPR) had a $1.5M seed round close in April 2026 according to CryptoRank data, with a TGE planned but not yet dated. Check propr.xyz for current points and token details.
Country Restrictions
Propr cannot serve traders from the following jurisdictions. Using a VPN to bypass this results in account termination with no refund.
All KYC submissions are screened against global sanctions lists and PEP databases. The full restricted country list is at propr.xyz/rules.
Propr vs HyperStack: On-Chain Comparison
Both firms operate on Hyperliquid. The key difference: Propr routes A-booked trades on-chain with public verification. HyperStack uses simulated trading on Hyperliquid infrastructure without on-chain settlement.
| Feature | Propr | HyperStack |
|---|---|---|
| Execution model | A-book: real on-chain; B-book: internal (labeled) | Simulated trading on Hyperliquid |
| Payout settlement | USDC on-chain, TX hash published | Varies; confirm on HyperStack site |
| Eval types | Classic 1-Step, Turbo 1-Step, Classic 2-Step | Confirm on HyperStack site |
| Entry fee (lowest) | $25 (Turbo $5K) | Confirm on HyperStack site |
| Transparency page | Public: pass rates, revenue, payout TXs | Not confirmed |
| API / bot support | REST API, Python SDK, JS SDK | Confirm on HyperStack site |
| Prediction markets | Polymarket integration | Not confirmed |
| Funding / backing | SwissBorg, $1.5M seed | Confirm on HyperStack site |
| Country restrictions | US, UK, Russia excluded | Confirm on HyperStack site |
HyperStack data shown as “confirm on site” because we do not publish data we have not verified. Always check the firm’s current rules before buying an evaluation. See our full HyperStack review for their confirmed specs.
Support
| Primary channel | Discord at discord.gg/propr |
| Dashboard support | Available at app.propr.xyz |
| CEO responsiveness | Louis Regis responds publicly on Trustpilot (4.4 stars, 53+ reviews). During the June 2026 infrastructure issues, he posted public responses within 24 hours and issued refunds for platform-caused breaches. |
| Trustpilot | 4.4 / 5 based on 53+ reviews as of this review date. Common praise: execution quality, no slippage versus centralised alternatives. Common complaints: latency issues and false breaches during June 2026 infrastructure scaling period. |
| Documentation | Full rulebook at propr.xyz/rules. Developer docs at propr.xyz/developers. Roadmap at propr.xyz/roadmap. |
Who Should Use Propr
Propr is the right call for crypto traders who want on-chain accountability and algo or bot capability. The Turbo eval starting at $25 makes the entry cost lower than most traditional prop firms. The full REST API and SDK suite means bots plug in without custom infrastructure. The A/B book labeling and public transparency page remove the biggest trust question in the prop industry: is this a simulation or real execution? On Propr, you can check.
It is not the right call if you are based in the US or UK, if you need MetaTrader, or if you want a firm with multiple years of payout history. The 2x leverage cap on most crypto also limits strategies that rely on high leverage to hit targets. The June 2026 platform issues were addressed and refunded, but a firm this new running on a single underlying exchange carries infrastructure concentration risk that older multi-broker firms do not have.
Alternatives to Propr
Firms in the same category with a comparable score, each offering something Propr does not.
- Coin Funded scores 7.0 and offers a refunded fee on passing and news trading allowed.
- FundedBit scores 7.0 and offers a refunded fee on passing and up to a 100% split.
- WenCrypto scores 7.0 and uses a static drawdown.
Frequently Asked Questions
Is Propr a legitimate prop firm?
Propr is registered in the British Virgin Islands as Propr Limited (Reg. No. 2211330), backed by SwissBorg with $1.5M in seed funding, and led by a publicly named CEO (Louis Regis). Every A-booked trade is on-chain and verifiable, and Propr publishes pass rates, revenue, and payout transaction hashes at propr.xyz/transparency. It is not regulated by any financial authority, which is consistent with the prop industry. As a firm launched in early 2026, its payout track record is still building. The on-chain verification layer provides more independently checkable data than any traditional prop firm.
What evaluation types does Propr offer?
Three types. Classic 1-Step: 10% profit target, 3% daily loss limit, 6% static max drawdown. Turbo 1-Step: 9% target, 3% daily loss, 3% static drawdown, lower fee. Classic 2-Step: 5% target in Step 1 and 10% in Step 2, with a more generous 5% daily loss limit and 8% trailing drawdown. All types are available across five account sizes ($5K, $10K, $25K, $50K, $100K) and none carry a time limit or minimum trading days.
What are the Propr account sizes and fees?
Five account sizes: $5K, $10K, $25K, $50K, and $100K. Classic 1-Step fees: $60 / $110 / $275 / $495 / $999. Turbo 1-Step fees: $25 / $50 / $125 / $245 / $450. Classic 2-Step fees: $50 / $100 / $250 / $450 / $749. The maximum single account is $100K. Traders can hold multiple accounts up to a $300K aggregate funded balance. All fees are non-refundable once activated.
What is the difference between Classic 1-Step and Turbo 1-Step?
Classic 1-Step has a 10% profit target, a 3% daily loss limit, and a 6% static max drawdown. Turbo has a 9% target, the same 3% daily loss limit, and a tighter 3% static drawdown. Turbo fees are roughly half the Classic fees. The tradeoff is straightforward: cheaper entry, but a tighter buffer against drawdown. On a $25K Turbo account, your max drawdown floor is $24,250, which means you only have $750 in total drawdown room from the start.
How do Propr payouts work?
Funded traders keep 80% of profits. Payouts are on-demand with no waiting period, settled in USDC on-chain, with a $20 minimum and no cap on the number of requests. Average processing time is about 5 hours. Every payout is published publicly with a transaction hash at propr.xyz/transparency. All positions must be closed before requesting. Each payout sweeps all available profit and resets the account to the starting balance.
Can US or UK traders use Propr?
No. Propr explicitly excludes traders from the United States, United Kingdom, Russia, and all OFAC-sanctioned jurisdictions. Attempting to access via VPN results in immediate account termination with no refund.
What is Propr’s A-book vs B-book model?
Every trade on Propr is labeled either A-booked (routed to Hyperliquid and executed on-chain, publicly verifiable) or B-booked (recorded internally with identical P&L outcome for the trader, but not on-chain). On B-booked trades, Propr profits when you lose, which is a direct conflict of interest. This is disclosed in the rules and the aggregate A/B ratio is published publicly. Most prop firms never confirm which model they run.
This review is based on publicly available information from propr.xyz as of July 2026. Rules, fees, and country restrictions may change. Always verify current terms at propr.xyz/rules before purchasing an evaluation. See our full crypto prop firm guide for comparisons across the category.