What Is BitFrog Prop？

BitFrog Prop offers three ways to trade on BitFrog Trading Terminal: 2-Step, 1-Step, and Instant. The 2-Step and 1-Step plans require you to complete a challenge and pass a review before a funded account is opened. Instant has no challenge phase.

2-Step Challenge

Complete two challenge phases in order, then pass the review to open a funded account. Each phase has its own profit target and valid trading days. Your challenge account is reset when you move to the next phase. See 2-Step Challenge Introduction.

1-Step Challenge

Complete one challenge phase and pass the review to open a funded account. See 1-Step Challenge Introduction.

Instant

After purchase and eligibility checks, a funded account is opened directly. See Instant Introduction.

Account Size, Purchase Fee, and Payouts

Term	What it means
Purchase fee	The amount you actually pay for a plan. Check the purchase page for the current price.
Account size	The reference amount used to calculate trading capacity, profit targets, and loss limits. It is not an equal amount of your own deposited capital and cannot be withdrawn.
Challenge account profits	Used only to assess whether you have passed a challenge phase. They cannot be paid out or carried into the next phase.
Funded account profits	Eligible realized profits may be requested as a payout under the applicable profit share rules. Unrealized P&L cannot be requested.

WARNING

Reaching a challenge profit target does not automatically qualify you for a funded account or a payout. Applicable trading day requirements, risk limits, and reviews must also be satisfied.

How Does This Differ From an Exchange Futures Account?

	Exchange futures account	BitFrog Prop account
Account funding	You deposit margin under the exchange's rules.	You purchase a plan and trade under its challenge or funded account rules.
Leverage	Subject to the exchange's margin and position rules.	Subject to the tradable instrument, order, and product rules. You cannot infer leverage by dividing account size by purchase fee.
Risk limits	Insufficient margin can lead to liquidation.	Daily and overall account loss limits also apply. Instant has no maximum daily loss.
Profit treatment	Follows the exchange account's rules.	Challenge profits are not payable; eligible funded account profits may be requested under the profit share rules.

Risk in either type of account depends on position size, leverage, market moves, and fees. The purchase fee or account size alone does not show which is safer. See the Product Comparison and Parameters for the three Prop plans.

WARNING

Before buying, check the plan price, phase targets, loss limits, position rules, payout terms, identity and location eligibility, and applicable agreement. Price gaps, slippage, and trading fees can cause an account to hit a limit quickly. BitFrog does not guarantee that you will pass a challenge or earn a profit.

Common account and trading terms

• Challenge phase / challenge account: The stage and account used to meet the goals for a 2-Step or 1-Step funded account. Instant has no challenge phase.
• Funded account: An account traded under the product rules. Eligible trading profits may be requested as a payout.
• Balance: The account amount after settlement. Equity: Balance plus unrealized P&L on open positions.
• Realized P&L: Settled trading gains or losses; trading and funding fees affect the net amount.
• Unrealized P&L: Gains or losses on open positions. They affect current equity and applicable loss calculations.
• Notional value: The value of an order or position calculated using its execution price.
• Valid trading day: A UTC+8 calendar day that meets the product's executed notional value and any other applicable requirements.
• Maximum daily loss / maximum account loss threshold: Limits on daily losses and account equity. Instant has no daily loss limit; its overall loss threshold changes after the 5% profit milestone.
• Payout: A request for an eligible share of funded account trading profits. Account size itself cannot be withdrawn.