What should a prop firm's terms and conditions include?
Quick answer
Terms should cover eligibility and restricted countries, what the fee buys, that accounts are simulated, all rules and prohibited strategies, payout conditions and KYC, refunds and chargebacks, the firm's right to review accounts, data use, intellectual property, limitation of liability, governing law and how disputes are handled.
Detailed answer
General information, not legal, tax or regulatory advice. Rules differ by country and change over time; confirm your position with a qualified professional before acting on it.
Sections most prop firms need:
- Definitions and eligibility, including minimum age and restricted countries.
- The service: evaluations on simulated accounts, and what the fee covers.
- Trading rules and how breaches are determined.
- Prohibited conduct: copy trading across accounts, exploiting errors, account sharing.
- Funded stage and payouts: split, timing, KYC, grounds for denial.
- Fees, refunds and chargebacks.
- Technology: platform availability, errors and what happens if prices are wrong.
- Privacy and data.
- Liability, governing law and disputes.
- Changes to the terms, and how existing accounts are treated.
On the last point, if your platform freezes rules per account, say so. PropExecutor fixes each trading account to the rule set version in force when it was created. This is general information; have a lawyer draft or review your terms.
Keep them readable
Pair the legal terms with a plain-language summary of the main points, so traders actually understand them before buying.
PropExecutor team · Updated
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