Vanquish has four plans, and each one has its own rules. They all follow the same three stages, though. You pass an Evaluation, trade a funded Performance Account, and request payouts from it. This page sets out every rule on every plan in one place, so you can compare them before you choose a plan.
Vanquish Trader rules at a glance
A few rules apply on every plan. There’s no time limit on the Evaluation, positions must be closed by 3:59 p.m. ET, profit targets count closed trades only, and you keep 100% of your payouts.
Which plan’s rules suit you?
Rapid Express is the options prop firm plan without a consistency rule. There’s no minimum number of trades either, so you can pass on your first day if one trade gets you to the 9% target. The catch is a tight 3% loss limit that trails your equity in real time. The Rapid Express rules walk through how to manage it.
Rapid Elite gives intraday trades more room. Its loss limit only moves after the close, so a position that swings during the session doesn’t drag the limit up with it. In return, a 50% daily consistency rule means passing takes at least three trading days. It suits traders who build profit steadily, and the Rapid Elite rules show how the daily rule works in practice.
Basic Options has the widest loss limit for buying calls and puts, at 5% instead of 3%. You’ll need a 10% target, at least 10 trades and no single trade above 30% of your profit, but payouts can be requested daily once you’re funded. Our Basic Options rules cover the per-trade consistency rule in detail.
Advanced Options is the only plan that allows Level 4 options, so it’s the one for spreads, iron condors, covered calls and selling premium. Its 5% end-of-day drawdown gives multi-leg positions time to work, alongside a 30% daily consistency rule and a four-trading-day minimum. The Advanced Options rules include the full list of permitted strategies.
Evaluation rules
The Evaluation, which some firms call a trading combine, is where you prove your strategy. You pass the moment every rule below is met at the same time.
Profit target
The profit target is the gain you need to pass, measured on closed trades. It’s 10% on Basic Options and Advanced Options, and 9% on Rapid Express and Rapid Elite. A winning position you’re still holding doesn’t count until you sell it.
Maximum drawdown
Your maximum drawdown is the furthest your account can fall from its highest point before it’s breached. It’s 5% on Basic Options and Advanced Options, and 3% on the two Rapid plans. There’s no separate daily loss limit on any plan.
Intraday trailing vs end-of-day drawdown
All four plans use a trailing loss limit, which rises as your account makes new highs and never moves down. On Basic Options and Rapid Express, it trails intraday, so open profit lifts the limit in real time. On Advanced Options and Rapid Elite, it only moves after the close, based on your end-of-day equity. Either way, the limit applies all day. Our guide to trailing drawdown runs the same trades through each type so you can see the difference.
Consistency rule
A consistency rule stops one trade or one day from carrying your whole result. Basic Options measures your best trade, which must be below 30% of total profit. Advanced Options and Rapid Elite measure your best day, at below 30% and below 50%. Rapid Express has none. Going over the limit never fails your account; you just keep trading until it comes down. The consistency rule explainer shows how to calculate it.
Minimum trades or trading days
Basic Options needs at least 10 trades, and Advanced Options at least four trading days. Rapid Express and Rapid Elite have no formal minimum, but Rapid Elite’s 50% daily rule means you’ll need at least three trading days to pass.
Performance Account rules
Once you pass, you trade a funded Performance Account, starting from your plan’s starting balance. There’s no profit target. Your maximum drawdown and drawdown type stay the same, and so do your trading permissions. Consistency, where your plan has it, now applies to each payout rather than to passing. For a full side-by-side, here’s how the Evaluation and Performance Account differ.
The Buffer
The Buffer is a level 5.75% above your starting equity. Until you reach it, your loss limit keeps trailing. Once you do, the limit locks permanently: at 0.75% above your starting equity on Basic Options and Advanced Options, or 2.75% above on the Rapid plans. From then on, profit adds to your room instead of raising your floor. Basic Options and Rapid Express check the Buffer in real time, while Advanced Options and Rapid Elite check it at the close. Our guide to the Buffer lists the exact levels for every account size.
Payout rules
You can request a payout once you have at least $250 in profit and meet your plan’s consistency and activity rules. You keep 100% of it, and most payouts arrive in about 15 minutes. How often you can withdraw depends on the plan, from daily on Basic Options to every four trading days on Advanced Options, with one request per day across all your accounts.
A payout lowers your balance but never moves your loss limit, so it’s worth reaching the Buffer before you withdraw. The full Vanquish Trader payout rules cover eligibility, timing and how to request one.
What you can trade
Basic Options, Rapid Express and Rapid Elite allow long calls and long puts on any ticker. That means single-stock options on anything from AAPL to PLTR, plus index and ETF options such as SPX and QQQ.
Advanced Options unlocks Level 4 options: spreads, iron condors, butterflies, covered calls and cash-secured short puts. The one restriction is on SPX, XSP and VIX, which are limited to buying single-leg calls and puts.
No plan allows margin or overnight positions, and every trade must be closed by 3:59 p.m. ET.
Resets and breaking a rule
Only one rule can breach your account: your equity touching the loss limit. The others work differently. Missing a consistency limit or a minimum trade count just means you keep trading until you meet it, and a position left open at 3:59 p.m. ET is closed automatically at market rather than counted as a violation.
If you breach an Evaluation, you can reset it straight away instead of waiting for your next billing date. A reset puts the account back to its starting balance with every metric cleared. If you breach a Performance Account, it closes, and resetting it takes you back to a fresh Evaluation. On a $10,000 account, a reset costs $39 on Rapid Express, $45 on Rapid Elite, $49 on Basic Options and $99 on Advanced Options. There’s no limit on how many resets you can use, and a reset doesn’t move your billing date. The option sits on the Payments page of your Vanquish dashboard, and the Resets and Recovery article in our Help Center has the step-by-step.
Vanquish Trader rules FAQ
Does Vanquish Trader have a consistency rule?
On three of the four plans. Basic Options caps your best trade below 30% of total profit, Advanced Options caps your best day below 30%, and Rapid Elite caps your best day below 50%. Rapid Express has no consistency rule.
Which Vanquish plan has no consistency rule?
Rapid Express. It also has no minimum number of trades or days, so you can pass with a single trade.
Is the Vanquish drawdown trailing or static?
Trailing on every plan. Basic Options and Rapid Express trail intraday, and Advanced Options and Rapid Elite trail at the end of the day. On a Performance Account, the limit locks permanently once you reach the Buffer.
Is there a daily loss limit?
No. None of the four plans has a daily loss limit. Your trailing loss limit is the only drawdown rule.
Is there a time limit to pass?
No. You can take as long as you need on every plan.
How long does a Vanquish payout take?
About 15 minutes on average. A payout that’s selected for a closer review can take up to two business days.
Can I trade single-stock options?
Yes, on every plan and on any ticker. Spreads and selling to open are only available on Advanced Options.
Does Vanquish have hidden rules?
No. Every rule that affects whether you pass or get paid is on this page and in the plan rules pages it links to. We’ve written more about what a prop firm with no hidden rules should look like.
Once you know which rules fit your trading, you can compare account sizes and prices on the plans page.
