ProprXYZ Review

What Is ProprXYZ?

ProprXYZ is a transparent onchain prop trading firm built on Hyperliquid, a decentralized perpetual futures exchange. Unlike traditional prop firms, Propr publicly shares everything competitors hide: pass rates, revenue numbers, payout transactions, and the A/B booking algorithm.

Propr offers a wide investment universe with perpetual futures across crypto, equities, and commodities, covering 150+ assets all in one terminal.

ProprXYZ Dune Analytics Dashboard

We independently track ProprXYZ's financials on a public Dune Analytics dashboard. The dashboard monitors revenue data from Propr's API and tracks payout data for traders and referrals from onchain wallets — giving anyone an independent, verifiable view of how the firm is performing.

ProprXYZ Profit Split

Funded traders keep 80% of all profits. The remaining 20% goes to Propr. The profit split applies to all funded accounts regardless of account size or evaluation type (1-Step or 2-Step). There are no tiered splits or conditions attached.

ProprXYZ Payout Structure

Each payout sweeps all available profit. There are no partial withdrawals. You must close all open positions before requesting a payout. After payout, your account balance resets to the initial funded amount. The minimum payout amount is $20. There is no maximum payout amount and no cap on how many times you can request payouts. No payout fees.

ProprXYZ Trading Rules and Leverage

Risk limits: Max daily loss and max drawdown apply at all times on both evaluation and funded accounts.

Profit targets: Required to pass the evaluation phase(s). No profit target on funded accounts. 5% for Step 1, 10% for Step 2.

Leverage limits: Vary by asset class:

Asset Class	Max Leverage
BTC & ETH Perpetuals	5x
Other Crypto Perpetuals	2x
Equities Perpetuals	4x
Commodities Perpetuals	4x

Permitted strategies: No restrictions on scalping, news trading, overnight holding, bots, AI agents, or copy trading (including between your own Propr accounts). ProprXYZ fully supports automated trading — you can connect trading bots and AI agents to execute strategies on your behalf.

Prohibited conduct: Hedging across accounts, account cycling, coordinated trading, wash trading, and identity fraud are all banned.

ProprXYZ Fee Structure

ProprXYZ replicates Hyperliquid's native fee schedule with no additional markups or hidden charges:

Crypto perpetuals: 0.0450% taker fee / 0.0150% maker fee — identical to Hyperliquid's base rates.

Equities, commodities, and FX perpetuals: Fees mirror the fee structure set by the underlying HIP-3 deployer on Hyperliquid. Each asset's fee schedule follows its respective deployer configuration.

$PROPR Points and Airdrop

ProprXYZ rewards active traders with $PROPR points that accumulate toward a future airdrop. Points are earned through trading activity on the platform — the earlier you start farming, the larger your share of the airdrop allocation. The snapshot window closes on August 24, 2026, so early participants stand to benefit the most from point accumulation before the cutoff date. The $PROPR token is scheduled to launch at TGE in August 2026.

For traders looking to run automated strategies with bots or AI agents on a prop firm today, ProprXYZ stands out as the leading option — combining full bot compatibility, onchain transparency, and a live token incentive program in one platform.

ProprXYZ Maximum Daily Loss Rules

The maximum daily loss caps how much your equity can drop within a single day. The dollar limit is fixed at a percentage of your challenge starting balance and does not scale with account growth.

1-Step accounts: 3% of starting balance. 2-Step accounts: 5% of starting balance. Reset time: 00:00 UTC daily.

The daily loss limit is set once at account creation using the challenge starting balance and never changes: Daily Loss Limit = Starting Balance × Daily Loss %. Each day at 00:00 UTC, the system snapshots your equity. Your equity floor for the next 24 hours is that snapshot minus the fixed daily loss limit.

ProprXYZ Maximum Drawdown Rules

The maximum drawdown sets an absolute floor for the account: the lowest your equity can ever go. The calculation differs between 1-Step and 2-Step accounts.

1-Step accounts (static drawdown): Max Drawdown Equity Limit = Starting Balance × (1 − 0.06). This limit is set once at account creation and never changes, regardless of how high the account grows.

Example: you have a $50,000 1-Step account. The max drawdown equity limit is $47,000. You trade profitably and grow the account to $60,000. Your max drawdown limit is still $47,000 — it does not trail upward. If your equity drops to $47,000 at any point, even intraday on an open position, the account is breached.

2-Step accounts (trailing drawdown): 8% trailing drawdown based on your account's High Water Mark (equity-based). The limit trails up as your equity reaches new highs, locking in gains, and stops trailing once it caps at your starting balance.

Example: you have a $50,000 2-Step account, so the initial floor is $46,000 (8% below). As your equity climbs the floor trails 8% behind each new high, until the floor reaches your $50,000 starting balance — from that point it is fixed at $50,000 and no longer trails upward.

Onchain Trade Verification and Transparency (coming soon)

All A-booked trades executed on ProprXYZ accounts are routed through Hyperliquid and are verifiable onchain. This means:

Every A-booked trade, including entries, exits, and liquidations, is recorded on Hyperliquid's blockchain. Traders can independently verify A-booked trade history onchain. Propr's aggregate payout history will be published onchain.

B-booked trades (internal book entries) are not routed to Hyperliquid and are therefore not visible onchain. The P&L outcome is identical regardless of execution method. Every trade on your Propr dashboard is labeled as A-booked or B-booked, so you always have full visibility into how each trade was executed.

How ProprXYZ Decides Who Gets A-Booked: The Open-Source Algorithm

The A/B booking decision is made by an open-source algorithm published under XBorgLabs/ab-booking on GitHub (@xborglabs/ab-booking on npm). The source code is public — anyone can inspect exactly how Propr classifies traders.

Every trader starts on B-book. The algorithm runs continuously against your accumulated trade history and produces a composite score from 0 to 100. Routing is graduated — there is no hard switch. A score of ~70 routes roughly 50% of your order flow live. A score of 90 or above means 100% live A-book routing.

Five Scoring Dimensions

Dimension	Weight	What It Measures
Edge	30–40%	Sharpe ratio, profit factor, and expectancy — adjusted for statistical confidence. A high Sharpe on only 15 trades is heavily discounted.
Behavior	25–30%	Position sizing consistency, session regularity, and avoidance of high-volatility windows like US/London opens and funding rate resets.
Risk	20%	Max drawdown relative to your challenge limit, recovery factor, and tail risk (CVaR, skewness).
Sample Confidence	Multiplicative gate	Trade count, time in market, and asset diversity. This multiplier gates the entire score — thin data keeps all scores low regardless of results.
Market-Relative	15–20%	Whether returns are genuine alpha or just riding market direction. Checks for directional imbalance and profit concentration in a single trade.

Red and Green Flags

Independent of the composite score, the algorithm raises flags that can influence the final routing decision. A flagged account may be held on B-book for manual review even if the composite score is high enough for A-book classification.

Red flags (B-book indicators): high win rate with poor risk:reward ratio (martingale pattern), challenge completed in under 5 days, equity curve with no discernible trend, and drawdown close to the challenge limit.

Green flags (A-book support): Sharpe above 1.5 over 50+ trades, consistent performance across multiple challenge phases, drawdown well below limit, and profitable on 3 or more distinct assets.

ProprXYZ Country Availability

Where ProprXYZ is registered: ProprXYZ's operating entity is based in the British Virgin Islands (BVI). This is distinct from where traders may sign up from, covered below.

Propr is open to traders worldwide with limited exceptions: United States, United Kingdom, and Russia are restricted. OFAC-sanctioned countries are also excluded: Afghanistan, Belarus, Burma (Myanmar), Central African Republic, Cuba, DR Congo, Ethiopia, Eritrea, Haiti, Iran, Iraq, Lebanon, Libya, Nicaragua, North Korea, Somalia, South Sudan, Sudan, Syria, Venezuela, and Zimbabwe. Ukraine regions Crimea, Donetsk, and Luhansk are restricted. Traders from restricted countries will not pass KYC regardless of documentation.

ProprXYZ KYC Verification and Refund Policy

If your KYC verification is rejected, you will receive a notification with the reason. Common reasons include blurry documents, mismatched names, or unsupported document types.

All evaluation purchases are final and non-refundable. This applies whether you breach, fail to complete the evaluation, or choose not to trade. Review the full trading rules before purchasing to make sure the evaluation is right for you.