Updated: . Costed by The Funded Desk off each firm's own list prices and rule pages.
The short answer
EVEDEX vs HyroTrader is a choice between two different purchases. HyroTrader sells a $579 evaluation
and then puts the trader on firm capital for 80% of the profit. EVEDEX Funded Trading sells no
evaluation and takes no share, because the 3,335 USDT behind a 100,000 nominal is the trader's own
money.
Weights: Cost of access 34 · Payout terms 26 · Evaluation model 14 · Risk rules 18 · Instruments 8 · how we rate
EVEDEX vs HyroTrader side by side
What differs
EVEDEX Funded Trading
HyroTrader
What the trader is buying
A margin tier on the exchange, with a larger nominal against it
An evaluation, and the firm's capital once it is passed
Who provides the capital behind the position
The trader. Nothing is lent or allocated to them
The firm, from the funded stage onwards
Cost of reaching $100,000 of nominal
No fee; 3,335 USDT posted as margin
$579 one time, no margin posted
Whether that money comes back
The margin stays the trader's and can be withdrawn
The fee is returned with the first payout
Evaluation
None
10% in one step, or 10% then 5% in two
Minimum trading days
None
Five
Loss limits
None imposed by the exchange; loss stops at the posted margin
4% daily and 6% maximum, both fixed rather than trailing
What ends the account
No firm rule does
A breach of either loss limit forfeits it
Stop-loss and consistency rules
Neither
Stop-loss mandatory, consistency required
Profit split
The trader keeps 100%
80% at the start, scaling to 90%
Payout terms
The actual USDT balance, withdrawable at any time
On demand above $100, about twelve hours, in USDT or USDC
Where the order goes
The exchange's own order book, 52 perpetual markets
Bybit through an API connection, 700+ USDT perpetual pairs
Tools and access
Web interface only, no API for funded subaccounts
Bybit, with Tealstreet and Cleo as alternative terminals
Ceiling
100,000 USDT of nominal at the top tier
$200,000 is the largest account sold, against a documented $1,000,000 cap
Overall score, out of 20
Not scored — four of the five criteria price capital a firm puts up, and none is put up here
9.8 — the longer market list of the two
Terms read on 22 September 2026 in each firm's own documentation.
EVEDEX Funded Trading — fit: own margin, no evaluation and no share of the profit
Not scoredthe five criteria price capital a firm puts up, and none is put up here · why
EVEDEX Funded Trading raises the nominal a trader can hold against margin they post themselves.
The tier table runs from 50 USDT for a 1,500 nominal to 3,335 USDT for 100,000, with no
evaluation, no target, no minimum days and no profit share. The documentation is explicit about
what the nominal is not: it is not the exchange's capital, nothing is lent or allocated, and only
the actual USDT balance can be withdrawn. Orders match on the exchange's own book across 52
perpetual markets. The size is where the danger sits: a 100,000 nominal carried on 3,335 USDT is
thirty times the deposit, so a move of roughly 3.3% the wrong way is the whole of it.
Programme gives
No evaluation, no minimum trading days, no consistency rule and no daily loss limit
The trader keeps 100% of profit and can withdraw the actual USDT balance at any time
Programme takes back
The trader's own margin is at risk from the first trade, where an evaluation fee is the whole stake elsewhere
Funded subaccounts are web only, with no API access
The larger nominal is not firm capital, so nothing beyond the posted margin can be withdrawn
Not for: a trader with no capital to post, which is the case the prop model was built to serve.
HyroTrader — fit: an evaluation first, then firm capital on a Bybit connection
HyroTrader is a proprietary firm in the ordinary sense. The trader buys an evaluation, clears it,
and then trades an account the firm stands behind. A $100,000 account is $579 charged once and
returned with the first payout. The one-step route asks for 10%, the two-step route 10% and then
5%, with five minimum trading days either way. The funded stage runs on a Bybit API connection
across 700+ USDT perpetual pairs, and profit is paid on demand above $100.
Programme gives
Funded orders reach an exchange book, and the $579 fee comes back with the first payout
Payouts on demand above $100 of profit, processed in about twelve hours in USDT or USDC
Programme takes back
Mandatory stop-loss and consistency requirements are part of the rule set
The two-step route needs a 10% target and then a 5% verification before any payout
Breaching the 4% daily drawdown or the 6% maximum loss forfeits the account
Not for: a trader who already holds the margin and does not want a rule book attached to it.
Nobody lends capital on one side of this comparison
The two programmes answer different questions. HyroTrader answers the one a trader asks when they
can trade and have no size: pay $579, prove a 10% gain inside the firm's limits, and receive an
account the firm funds, keeping 80% of what it makes and rising to 90%. The firm's money stands
behind the position, and what the trader has at stake is the fee.
EVEDEX Funded Trading answers the opposite question, asked by someone who has margin and will not
sit an evaluation. The trader posts 3,335 USDT, holds a 100,000 nominal on the exchange's own
book, keeps the whole profit, and meets no firm rule that can close the account. Nothing is lent:
the documentation states that the nominal is not the exchange's capital, that funds are neither
lent nor allocated, and that only the actual USDT balance can be withdrawn.
So one word covers two transactions. One of them moves the downside to a firm in exchange for a
fee and a fifth of the profit. The other leaves the downside where it already was and charges
neither.
What $579 buys, and what 3,335 USDT buys
Cost of access carries 30 of the 100 points in this desk's formula, and it treats a fee and a
margin deposit differently on purpose. A fee is gone the moment trading begins, so it is charged
at full weight: ten points less the fee divided by 80. Posted margin is still the trader's money,
so it is charged at a tenth of that rate, ten points less the margin divided by 1,000.
HyroTrader's $579 leaves 2.76 on that scale. The firm returns the fee with the first payout, which
adds 1.5 back, so its cost score is 4.3. Now run the same five criteria over a programme that
charges no fee, takes no share, sets no evaluation and imposes no rule that can end an account:
four of the five mark an absence rather than a term, and the total that came out sat more than a
third clear of the highest-scoring firm on this desk. That is a fact about the criteria, not about
the programme, which is why this page prints one score and not two.
The arithmetic hides an asymmetry that runs both ways. A trader who fails a HyroTrader evaluation
is out $579 and nothing more. A trader who posts 3,335 USDT and trades badly can lose several
times that, because the margin is the stake rather than the ticket. What the formula rewards is
the absence of a sunk cost, not protection from loss.
The one thing they share is a live order book
Of the ten programmes this desk has read, these two are the only ones whose orders leave the
firm's own system. HyroTrader routes funded accounts to Bybit through an API connection across
700+ USDT perpetual pairs, with Tealstreet and Cleo available as terminals. EVEDEX Funded Trading
matches on the exchange's own book across 52 perpetual markets. The rest of the field describes a
demo environment, a CFD symbol, or a trade idea recorded as an internal book entry.
On the instruments criterion, worth 10 points of the 100, that shared property is worth 6 points
to each of them. The published market count settles the rest, 4 points above 100 markets and 2
below, which gives HyroTrader 10.0 and the exchange programme 8. It is the single criterion
HyroTrader wins, and it is the reason a trader who needs a long symbol list should not read the
overall figures as a verdict on execution.
Tooling follows the same split. HyroTrader's funded accounts sit on Bybit, so a terminal or a
script already pointed there has somewhere to go. Funded subaccounts on the exchange are web only,
with no API access at all, which rules out anything automated.
Where each one is the wrong purchase
HyroTrader is wrong for a trader who already holds the margin and wants no rule book. Five
minimum trading days, a mandatory stop on every position, a consistency requirement and a 4%
daily limit that forfeits the account on a breach are four ways for a run to end that the market
did not decide. The 20% share continues for as long as the account does, and the two-step route
puts a 10% target and a 5% verification in front of the first payment.
EVEDEX Funded Trading is wrong for the case the prop industry was built to serve: a trader with
skill and no capital. There is no way in without money, the nominal itself cannot be withdrawn,
and a bad week costs USDT rather than a ticket price. It is also wrong for anyone who needs an
API, a longer symbol list, or somebody else to absorb the downside.
Neither is the better programme in the abstract, and the scores should not be read that way. This
formula rewards the absence of fees, shares and hurdles, which is what one of them sells. The
other sells capital, which the formula does not price at all.
How we compared
Fee, target, loss limits, split, payout terms — all copied off each firm's pricing and rule pages on
22 September 2026, then run through one weighted formula, written 23 September 2026 before any of it
was read (the method). 2 programmes priced, none bought.
Simulated capital is the norm here: a payout comes off the firm's balance sheet, not a filled
position. Terms are promises, too — a fair rule set can still mean weeks of argument over a
withdrawal, which no document shows.
Questions traders ask
Is EVEDEX Funded Trading a prop firm?
No. A prop firm lends its own capital against an evaluation and keeps a share of the profit.
EVEDEX Funded Trading raises the nominal a trader can hold against margin they post themselves, so
nobody lends anything, there is no evaluation, and only the actual USDT balance can be withdrawn.
Which is cheaper to start, EVEDEX Funded Trading or HyroTrader?
Neither, exactly. HyroTrader charges $579 once for a $100,000 account and returns it with the
first payout. The exchange programme charges nothing but asks for 3,335 USDT of margin to hold a
100,000 nominal. One number is smaller and may never come back; the other is larger and stays the
trader's.
Does HyroTrader give you real money to trade?
The funded stage runs on the firm's capital, and the orders reach Bybit through an API connection
across 700+ USDT perpetual pairs rather than a demo server. Before that stage the trader pays $579
and clears a 10% target inside the firm's limits, and the fee returns with the first payout.
How much does a HyroTrader challenge cost?
The price list runs $59 for a $5,000 account, $119 for $10,000, $249 for $25,000, $379 for
$50,000, $579 for $100,000 and $969 for $200,000, each charged once. The fee is returned with the
first payout, so it is lost for good only when an evaluation is failed.
Can you lose your own money with EVEDEX Funded Trading?
Yes, and that is the trade being made. The margin posted for a tier is the trader's own USDT and
it is exposed from the first position, with the maximum loss capped at that margin. On a prop
evaluation the equivalent exposure is the fee, because the balance belongs to the firm.
Does HyroTrader require a stop loss?
Yes. A mandatory stop-loss and a consistency requirement are both part of the rule set, alongside
five minimum trading days, a 4% daily drawdown and a 6% maximum loss. Breaching either loss limit
forfeits the account outright, so on this programme the rule set can end a run before the market
has.
Which one pays out faster?
They are not the same action. HyroTrader pays on demand above $100 of profit, processed in about
twelve hours, in USDT or USDC. On the exchange programme there is no payout to request, because
the actual USDT balance sits in the account and can be withdrawn whenever the trader wants it.