Demo
Full platform on live prices with simulated fills. No email and no KYC to look at it.
Capital: nonePlanned: free
Prop challenge/In build
/Rules first, product second
Prove it. Then trade it.
upme is a prop-trading evaluation being built in public. The product does not exist yet. What exists is the part every firm in this category writes last and quietly: the rulebook, the payout policy, and a public commitment about what we will publish when there is something to publish.
The 24-hour rule
When payouts begin: settled within 24h, or we add 2% to the amount
and publish the miss in the ledger.
No product to sell you and nothing to pay. The waitlist is one field, no tracking,
and one email when there is something real to look at.
- ◆ Rulebook published · v0.9
- ◆ Ledger opens at zero · see it
- ◆ Refusal rate published · the commitment
- ◆ No licence claimed · legal status
01What we are building
Four stages.
Only the first two
are ours to ship.
The plan is one path with four stages, on one screen and one history: a demo that needs no signup, a paid evaluation on a simulated account, a funded simulated account that pays a performance fee, and eventually a real brokerage account. The last stage requires authorisation we do not hold, so it is honestly last, and we will not talk about it as though it were near.
Challenge
Hit the target inside the risk limits. Every limit on screen, live, to the cent.
Capital: oursPaid evaluationFunded
Trade a simulated firm account and take a performance fee on the result.
Capital: oursPerf. feeLive
A real CFD and FX account. This stage needs a licence we do not hold, and it is last for that reason.
Capital: yoursNeeds a licence
One entrance · two ledgers
An evaluation balance and a real-money balance are never the
same balance. Pooling them is the design decision that would collapse the
distinction between a simulation and an investment service, so it is ruled out before
a line of it is built.
Evaluation balance
Simulated
—
Holdsa simulated figure
Money inevaluation fee
Money outperformance fee
Places orders in the marketno
An evaluation fee is the company’s revenue, not client money. It is never held on behalf of a trader and never sits next to money that is.
Earnings move
this way One confirmation.
No route back.
this way One confirmation.
No route back.
Live account
Real money
—
Holdsyour own capital
Money inyour deposit, a settled payout
Money outyour withdrawal
Exists todayno
This stage requires authorisation as an investment firm. We do not hold it, we have not applied under any name we can publish, and until both are true this column stays empty.
02Published before launch
The rulebook is
the product we
shipped first.
Everything that can end an evaluation is written down, versioned and dated — today, with no accounts open and no disputes to lose. A rule published before there is anyone to apply it to is the only kind that cannot have been written backwards from an outcome.
Pre-flight check
Every condition that has to be true before the account is released
4 of 6
- Daily loss$2,660.00 left cleared
- Max drawdown$6,140.00 above floor cleared
- Min trading days14 / 5 cleared
- No copy tradingClear cleared
- Profit target$587.35 to go outstanding
- Payout railNot set outstanding
Status: Climbing
Two items outstanding, neither of them a fault. Six of six and
the account converts. A breached limit reads HOLD instead, and that one you
sit out.
Three of the rules, and what breaching them costs
The full set, with the measurement method for each, is on the rulebook page
| Rule | Limit | Headroom in the example | If breached |
|---|---|---|---|
| Profit target | $8,000 · 8.00% | $587.35 to go | Nothing breaks — the account converts to funded. |
| Daily loss limit | $5,000 · 5.00% | $2,660.00 left | Trading pauses until 00:00 UTC. The account survives. |
| Maximum drawdown | $10,000 · static floor | $6,140.00 above | The evaluation ends. One retry at a reduced fee. |
Read the full rulebook → Version 0.9 · 2026-07-31 · every future change dated and kept
03The payout ledger
We have never
paid anyone.
Firms in this category advertise a running total of money paid to traders. We have paid nothing, so the total is zero, and here is the table it will be written into. It is published empty on purpose: a number that starts at zero in public can be checked as it grows, and a number that appears fully formed cannot.
$0.00
0 payouts settled. 0 refused. 0 traders paid. This is the whole record, and it will stay visible as the first line of it. Every settled request will be written here with the amount, the elapsed time and the rail; every refused one with the clause it was refused under.
| Settled | Account | Split | Amount | Rail | Elapsed | Outcome |
|---|---|---|---|---|---|---|
| No records — the first row appears on the day of the first payout | ||||||
The payout policy, in full → Including the one number nobody in this industry publishes: the share of requests refused.
04Commitments
Easy to promise
now. Expensive
to break later.
These are cheap to write today and costly to walk back once they are dated and public, which is exactly why they are being written today. If one of them changes, the change is published with the date and the old version stays readable.
What we commit to
- Publish the rulebook with a version number, and bind every account to the version it opened on
- Publish every payout and every refusal, with the clause the refusal was made under
- Publish the refusal rate as a percentage, monthly, whatever it is
- Publish outages and pricing gaps, including the ones nobody noticed
- Name the company, its number and its jurisdiction the day it is registered
What we will not do
- No claim of a licence, a regulator or a registration we do not hold
- No payout total, pass rate or trader count until it is a real number we can show the working for
- No rule change applied to an account that is already open
- No discretionary review inserted between the published rules and the money
- No third-party trackers, no advertising pixels, no cookie banner to dismiss
Waitlist
One email, when there is something to open.
Not a newsletter and not a drip sequence. You will hear from us when the demo is real, and once more if the rulebook changes in a way that would matter to someone who read this version of it.
05Research library
The questions this
industry answers
badly.
How trailing drawdown is actually measured. What “up to 100% split” means once you read the condition attached to it. Whether any of this is regulated anywhere. We are writing these up from primary sources — regulator publications, filed accounts, court dockets and firms’ own terms — with a link on every claim.
Are Prop Firms Regulated? A Jurisdiction Map
No country has created a licensing regime for prop-trading challenges. Here is what each regulator has actually said, and what it means for the person…
Updated 2026-07-31Price Gaps, Platform Outages, and What the Rules Actually Say
If the market gaps through your stop or the platform goes down, most prop firm rule sets have no compensation mechanism. The documented record explains why…
Updated 2026-07-31Glossary: Terms That Carry a Firm-Specific Definition
In prop trading, several core terms mean different things at different firms. This glossary gives the general meaning and flags where the definition varies.
Updated 2026-07-31