Vest

What is Vest?

Vest (Vest Markets, also called Vest Exchange) is a perps prop firm: you buy an account and trade NQ, ES, YM, RTY and crypto as perpetual futures, on Vest’s own platform and within its loss limits. Its funded programme is called Vest Capital, and it runs alongside Vest’s own perps exchange. The company behind it, Vest Exchange Inc., is registered in Panama.

Vest went from a name few traders knew to one of the most talked-about prop firms on X in October 2026. On 7 October it announced a $13 million seed round led by Portal Ventures, and traders took to X over its Instant Accounts, its drawdown that never trails and payouts you can claim any day. It is still a young firm, so read its rules and terms, below, before you buy.

Vest is not a crypto-only firm. Next to Bitcoin and Ether it lists perps on the NQ, ES, YM and RTY index futures, on US stocks, and on Gold, Silver, Oil and currency pairs, all traded from one account. If you are new to perps, our guide to perps vs futures prop firms explains what changes from a futures firm.

Which accounts does Vest offer?

Vest offers three kinds of account: an Instant Account, which pays out from the day you buy it, and two with an evaluation, 1-Step and 2-Step, where you first reach a profit target on a simulated account. You can buy a ready-made plan from Vest’s Get Funded page, or build your own with its Bespoke Account builder, under Create Custom Account.

On a 1-Step account every choice moves the price. A higher target, a daily loss limit or a lower split makes the account cheaper; a wider drawdown or a bigger split makes it dearer. The ready-made evaluation plans are 1-Step accounts with a 10% target, a 6% drawdown, an 80% split and no daily loss limit unless you switch one on, in four tiers: Silver ($5K), Gold ($10K), Platinum ($25K) and Emerald ($50K). The 2-Step account is one fixed set of rules. On an Instant Account the drawdown matches the account’s price, so on the $5K account you can lose $200 before it closes.

There is no consistency rule, no minimum number of trading days and no time limit on any Vest account. You can hold up to 10 funded accounts at once.

How do the Vest drawdown and daily loss limit work?

The Vest maximum drawdown is static: a fixed floor set once, as a percentage of your starting capital, that never moves. On a $25K account with a 6% drawdown the floor is $23,500, and it stays at $23,500 however much profit you make. The floor is checked against your equity, open trades included, at every moment of the day.

The daily loss limit, if your account has one, resets at 20:00 New York time. Each day’s floor is 3%, 4% or 5% below the balance at the reset, and open profit doesn’t count towards that balance. A $25K reset balance with a 4% limit sets a $24,000 floor for the day. Withdrawing profit lowers the day’s floor by the same amount.

Breaking either limit closes the account at once and for good: Vest gives no warning and no grace period, and there are no resets, so you buy a new account. The order form shows an estimated Fail Price for longs and shorts, the price at which the trade would break a limit, before you send it.

A static drawdown is simple to track, but you can still work through it day by day. The Trailing Drawdown Calculator has a static mode: type in each day’s result and it shows how much room you have left.

Is a Vest funded account real money?

Not under Vest’s contract. Vest’s docs say a live funded account is backed by real Vest capital, but its Prop Terms of Service, the agreement you accept, say that every account, Instant Accounts included, is simulated, and that no real capital is credited to you. Your trades count as trade ideas: Vest may copy them with its own money on its exchange or elsewhere, or only record them.

The terms also say payouts come from Vest’s general funds, which include the fees traders pay, and not necessarily from profitable live trading. Many prop firms run their funded accounts this way. What matters to you is the same as at a futures firm: the payouts are real money, and what you can lose is what you paid for the account.

Our blog post How does Vest make money? sets Vest’s own words beside its contract, line by line.

What can you trade at Vest, and when?

At Vest you can trade index, stock, crypto, commodity and currency perps, each on its own market’s hours. Its index perps follow the CME front-month futures contract for NQ, ES, YM and RTY, and roll to the next contract each quarter during the CME maintenance window. You size them in units, not contracts:

Leverage is capped by market on funded accounts: up to 75x on ES and 50x on NQ, YM and RTY, lower on most other markets. Leverage changes the margin a trade uses, not what it makes or loses per point, so size from your stop and your drawdown, not from the leverage figure.

Trading hours follow each market. Index and commodity perps trade through the 17:00 to 18:00 New York CME break, but lock from Friday 17:00 to Sunday 18:00 New York; stocks lock from Friday 20:00 to Sunday 20:00; currency pairs lock at the weekend; crypto trades all week. A position held into a weekend lock stays open and can’t be closed until the market reopens.

Before the weekend lock, a funded account’s leverage drops. From Friday 16:00 New York time until the market reopens, the maximum is 5x on ES and NQ and 3x on Gold. A position above that is cut down to it, unless your account can cover the margin the new limit needs; if the account is more than 1% below its starting capital, the position is closed in full instead. Open limit orders above the new limit are cancelled. To keep control of it yourself, reduce or close before Friday 16:00.

We found no news rule in Vest’s docs or its prop terms. XRP and HYPE can’t be traded on funded or evaluation accounts, and trading through an API isn’t available on them.

What does trading at Vest cost?

Beyond the one-time price of the account, orders that take liquidity pay a trading fee, and open positions pay or receive funding, as on every perp.

• Trading fees: 0% on limit orders that rest on the book. Orders that take liquidity pay 0.0025% of the position’s value on the index perps, NQ, ES, YM and RTY, and on commodity perps such as Gold, Silver and Oil, and 0.01% on every other market.
• Funding: settled every hour. On the index perps the base interest rate is 0%, so funding comes only from the gap between the perp’s price and its index; on crypto it adds a base rate of 10.95% a year. Funding you pay comes off your equity, so it uses up drawdown on positions you hold.
• Paying for an account: by card, or in crypto where Vest offers it. Profit you have claimed can pay for the next one.
• Refunds: within 3 days of buying, as long as you haven’t placed a trade on the account.

How do Vest payouts work?

Vest payouts are claimed, not scheduled: you submit a Claim Profit request from your funded account on any day, with no cap on how often or how much you claim. You may need to close open positions first.

• Your share: 95% on Instant Accounts, 80% on 2-Step, and 70% to 95% on 1-Step, whichever you chose when you bought it. The split never changes after purchase.
• Timing: credited to your Vest Primary Account in 24 hours. A claim can’t be reversed once it is sent.
• Currency: USDC, a dollar stablecoin. You withdraw it from your Primary Account to your own wallet, so you need a crypto wallet to get paid.
• To your wallet: withdrawals currently take up to 24 hours, from a minimum of 1 USDC. If you signed up with email or Google, they go out on Base or Arbitrum One; with a wallet sign-up, the withdrawal screen shows your chains. So from claim to wallet, allow up to about two days.

Profit you have claimed can also pay for your next Vest account.

Who can sign up for Vest?

Traders in the UK and the US can buy and trade Vest’s funded accounts. Vest’s prop terms, which cover Vest Capital, bar only people in Cuba, North Korea, Iran, Russia, Syria and the Philippines, and anyone under sanctions.

The UK and the US do appear in Vest’s separate exchange terms, which cover a different product: trading on Vest’s exchange with your own deposit. That doesn’t stop you trading a funded account. Check the prop terms for your country before you buy, and don’t use a VPN to get round them: the terms ban it. You must be 18 or over. On KYC, despite posts on X that say there is none, the prop terms say you must complete any identity checks Vest reasonably requires, before you buy, while you trade or before it pays you, Instant Accounts included.

How I use Vest

Vest is one of the prop firms I trade with: I take its $5,000 Instant Account and trade the NQ, ES, YM and RTY perps. All four index perps in one account means I can trade whichever asset my read of the four picks out, without opening a second account.

On the $5,000 Instant Account the whole drawdown is $200, and the floor never moves, so I work out the most I can lose on a trade before the first order, in points per unit. With 2 NQ units, the size of one MNQ, a 25-point stop risks 50 USDC before fees, a quarter of the account’s room.

Vest pros and cons