Velotrade publishes comparative review of six prop firms’ rulebooks, finding most funded accounts are closed by rules, not trading

• Hidden trading rules often matter more than profit splits.
• Compare drawdown and payout rules before buying a challenge.
• Rulebook transparency helps traders avoid costly surprises.

HONG KONG, July 29, 2026 - Velotrade today released its 2026 Prop Firm Transparency Report, a comparative review of the published rulebooks of six proprietary trading firms, Topstep, FTMO, FundingPips, Blue Guardian, HyroTrader and Velotrade.

The report examines the terms that determine whether a funded trader is ultimately paid, and concludes that most funded accounts are closed not because of poor trading, but because of rules set out in evaluation guides and help-center pages.

According to the report, across more than 300,000 funded accounts, only around 7% of traders ever drew a payout, and the reason typically had little to do with trading ability.

The report is intended, Velotrade said, to help traders compare firms on the terms that most often decide a payout rather than on profit splits alone.

Its central finding is that a trader can clear every stage of a challenge and close a position in profit, yet still have the account terminated over a clause that was not read at the point of purchase.

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