Prop firms

Run evaluations for your traders on trdrs. You set the rules, issue each trader an account, and every fill is measured against your rules. A maximum-loss breach fails the attempt. A daily-loss breach either fails it or closes positions until the next session, as your policy states. The accounts trade on the paper book, a simulated market priced from live data, so no real capital is at risk. This page is for prop firms deciding how to run evaluations on trdrs. It explains how the pieces fit, then points you to the guides that set each one up.

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How an evaluation runs

You issue the account, the trader signs in and finds it in their list, every fill is measured against your stage rule, and you advance the account when it passes. Many firms call an evaluation a challenge and each step of it a phase. On trdrs a phase is a stage, and the accounts taking it sit in a group. A two-phase evaluation followed by a funded account is three groups: two that each run a stage, and a third where passing traders land. Instant funding issues accounts directly into the funded group. Funded policies can state loss, exposure and payout rules without an evaluation target. All of them belong to your venue. A venue is a prop firm or brokerage whose accounts run on a provider, and a venue that runs evaluations runs them on the paper book. An account you issue trades under your rules and carries your name. A trader’s Demo is the practice account they open for themselves on the same paper book.

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What you set up

You set your venue up in the back office or from your backend. Every setting has an API call behind it, and the back office makes the same calls from a screen. Its Providers tab shows each provider your venue can trade through, with its kind and login style.

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What you can build

• An evaluation storefront. When a trader pays, your backend issues them an account with your own referenceId for the order, so a retried checkout gets the same account back instead of a second one.
• Rules that enforce themselves. Configure daily and maximum loss, holding, exposure limits and evaluation consistency in the account’s policies. The writer applies them as the account trades.
• Retries and resets. Reset an account when a trader buys another attempt. Halt one while you review it, and resume it when you’re done.
• Advancement you can trust. Whether an account passed is measured from its own trading against the rule you published, never from numbers you send, and advancing issues exactly one next account however often you retry.
• Payouts that can’t double. Quote eligibility against your minimum, cap, reserve, consistency, trading days and split, then record the payout under your own reference. The venue pays the trader share.
• A back office that doesn’t poll. Resets, balance operations and risk locks are pushed to your server as they happen.

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Run a venue on perpetual markets

A venue can run its evaluations on crypto perpetuals: Hyperliquid’s, and Binance’s and Bybit’s USDT perpetuals. You state every term, and the paper book fills on the exchange’s live prices and trades each contract on the exchange’s own terms. Every account holds a US dollar balance, and you pay your traders yourself: trdrs holds and moves no money for your venue.

1. Count the stablecoin as dollars. Publish a risk policy in USD whose settlement term is stablecoin_parity for USDC, USDT or both, so a contract that settles in a stablecoin reaches the dollar balance one for one. Paper accounts on provider contracts states the term.
2. Bind each perpetual. Give each contract a margin row in the same policy, which binds the exchange’s own leverage tiers and margin modes. Your limits narrow the exchange’s and never widen them: a cap on the leverage, the margin modes you allow (cross, isolated or both), and whether the trader chooses within them or every account holds one fixed setting. State your default cap on every row and change it on the rows that differ. Your backend reads the cap and the modes that apply to one of its traders on each contract, as Trade with leverage shows.
3. State the stage rule. The profit target, the trading days, a static or trailing drawdown with an optional daily limit and a maximum duration, as Run a venue sets out. A balance operation never counts toward any of them.
4. Issue accounts and pay traders. Issue each trader an account in USD. A payout is a debit recorded once under your reference. It never counts as trading loss; your policy chooses whether the maximum-loss reference moves with balance transfers.

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Next steps