forge. Trading Rules
1 · Overview
forge. is an onchain prop firm built on Hyperliquid. You pay a one-time fee for an evaluation ("challenge"). If you hit the profit target without breaking either risk limit, you receive a funded account. Profits you make on the funded account are paid to you in USDC, onchain, at an 80% flat split.
Phase 1 disclosure - read this.At launch, funded accounts are simulated environments running on live Hyperliquid prices and order books. Your fills, PnL, and risk limits mirror real market conditions, but no live capital is deployed on your trades. Payouts are real USDC, funded by the $FORGE protocol treasury, and every payout is verifiable onchain. As the treasury grows, proven traders graduate to accounts backed by real capital (Phase 2). We state this plainly because most firms don't: if a number on this site isn't real yet, it's shown as a zero, not borrowed from someone else.
By purchasing a challenge you agree to these rules in full. If anything here is unclear, ask in Discord before you trade - a rule you didn't read is still a rule.
2 · Definitions
3 · The two risk limits
Only two rules can end your account. Both are active at all times - during the challenge and after funding. Both are measured on equity, so open positions count, and a momentary touch is a breach. There are no other hidden limits.
3.1 Max daily loss - 3% (both plans)
A fixed dollar amount equal to 3% of your starting balance. It never changes as your account grows.
Every day at 00:00 UTC the system snapshots your equity. Your floor for the next 24 hours is that snapshot minus the fixed daily loss amount.
- · Day starts with equity at $25,400→ today's floor is $24,650.
- · During the day your equity dips to $24,660 with an open position - you're $10 from breach. If equity touches $24,650, even briefly, the account is closed.
- · Tomorrow at 00:00 UTC the floor recalculates from the new snapshot.
3.2 Max drawdown - static floor
Set once at account creation. Never moves.
Because the floor is static, every dollar of profit becomes cushion. Grow a Gold 1-Step account to $30,000 and your floor is still $23,500 - you now have $6,500 of room instead of $1,500. This is the whole reason we don't use trailing drawdowns: your winnings should protect you, not chase you.
3.3 What a breach means
All positions are closed at market, the account is permanently disabled, and no payouts can be requested from it. There are no resets, no second chances on the same account, and no appeals for "it only touched for a second." You are never liable for more than your challenge fee. To try again, start a new challenge.
4 · Passing the challenge
Reach the profit target on balance (realized PnL - close your trades) without touching either equity limit.
- · No time limit. The challenge never expires.
- · No minimum trading days. A single trade can pass.
- · No consistency rule. One big day counts the same as twenty small ones.
When you pass, your funded account is created automatically with the same starting balance and the same two risk limits. There is no second phase, no verification step, no waiting period.
5 · Funded accounts
Same starting balance, same daily loss, same static floor - but no profit target. Your only job is to make money without breaching.
Phase 1 funded accounts are simulated on live Hyperliquid prices (see §1). The account is a performance-tracking mechanism that determines your payout eligibility. It is not a brokerage account, not an investment, and you do not own its positions.
Funded accounts inactive for 30+ consecutive days may be archived; archived accounts can be reactivated by support before, but not after, 90 days.
6 · Payouts
7 · Profit split - flat 80%
You keep 80% flat of net profits. Every plan, every tier, every payout.There is no ladder, no "up to," no loyalty tier to unlock. The split you see on the pricing page is the split on your first payout and your fiftieth. The remaining 20% funds the treasury, staker distributions, and operations.
8 · Leverage & markets
Forge caps leverage at 5x on BTC/ETH, 2x on other crypto, and 4x on equities/commodities - or Hyperliquid's own per-asset venue max if that's lower. It varies by coin and changes as Hyperliquid adjusts its own risk parameters; check the live, capped figure for any asset on the Markets page or your dashboard before sizing a position. Using maximum leverage is never required.
You can trade every perpetual market listed on Hyperliquid - crypto majors and alts, equities, commodities. The live list is in your dashboard. Polymarket prediction markets are on the roadmap and will get their own rules section here before they go live.
9 · Identity - no KYC
forge. requires no identity documents - not at signup, not at payout. Connect a wallet, trade, get paid. Instead of document checks, every payout wallet is screened onchain at request time against sanctions lists and for mixer/exploit exposure. Flagged wallets have payouts withheld pending review.
Restricted jurisdictions: Not available to persons in the US, UK, Russia, or OFAC-listed jurisdictions. Enforcement is by IP/device geofencing and wallet screening. Using a VPN to circumvent the geofence results in termination without payout.
10 · What is NOT restricted
The two risk limits in §3 are the only trading rules. Everything below is explicitly allowed:
11 · API & automation
Algorithmic and agent trading is first-class at forge (see §10) - REST + WebSocket access to your funded account, so you can place orders, stream fills, and trade every listed market from your own bots. Agent-first from day one, not bolted on.
11.1 Authentication
- Create your account and pass a challenge at app.forgecap.xyz
- Open Dashboard → Settings → Developer
- Generate a key, prefixed
fk_live_
One key per account, with regeneration any time. Send it as X-API-Key on every request. Never expose it client-side - store it as an environment variable on your server or bot.
11.2 Endpoints
SDKs (Python and JS/TS) and a full OpenAPI reference launch with Phase 1. Until then, the endpoints above are live against the pre-launch environment.
12 · Prohibited conduct
Strategies are unrestricted; the following conduct is not. It results in termination and forfeiture of pending payouts.
Enforcement: cross-account correlation analysis, device/IP fingerprinting, trade-pattern and payout-pattern analysis, onchain clustering. Suspicious activity suspends payouts pending investigation; confirmed violations are permanent.
13 · Multiple accounts & fees
- · Up to $200,000 aggregate starting balance across your active funded accounts.
- · Challenge fees are one-time and non-refundable once the account is activated. Fees are charged in USDC.
- · Simulated Hyperliquid maker/taker fees and funding rates are applied to your PnL at cost, so simulated results match real trading. There are no monthly fees, no data fees, no inactivity fees, and no withdrawal fees.
14 · Transparency
The treasury balance, payout reserve, and every individual payout are published onchain. Aggregate stats - challenges sold, pass rates, total paid to traders - are published on the Transparency page. Until a number is real, it is shown as a zero, never borrowed. Phase 1 execution is 100% simulated and labeled as such everywhere it appears.
15 · Risk acknowledgment
Trading is hard and most participants do not pass. Challenge fees are non-refundable. Funded accounts can be breached and terminated by the rules above. Past performance guarantees nothing. Crypto markets are volatile and leverage amplifies losses. You do not own the funded account or its positions - you are eligible for performance-based payouts only. Payouts depend on the onchain reserve and may queue between epochs. Nothing on this site is financial advice.
16 · Quick reference
Questions these rules don't answer live in the FAQ and Discord. If a support answer ever contradicts this page, this page wins.