A cheap evaluation with an unusually forgiving drawdown

Legacy Funded Futures sells simulated futures evaluations in three families. Rise is the entry tier, Elite removes the contract-scaling ladder and raises the split, and the Instant Funded Account skips the evaluation for a larger up-front fee. The checkout sells every account on either DXtrade or a platform called BlackArrow, though How It Works says the firm “currently runs on DXTrade” and never mentions BlackArrow, which appears nowhere on the site outside the purchase dropdown.

The drawdown is the firm’s strongest feature. Most futures prop firms trail the loss limit against intraday equity, so an unrealised spike you never banked permanently raises the floor you must stay above. Legacy does not: “we use a Trailing Drawdown based on your End-of-Day (EOD) Balance… Intraday losses don’t count.” A trader who floats up $2,000 and gives it back before the close keeps the old floor — materially safer than the intraday model we documented at Redline Futures Funding and Leeloo Trading. Entry is cheap too: $99 for a 50K Rise evaluation plus the $99 activation fee puts the all-in cost of a funded 50K account at $198.

What follows is the part that costs more than $198.

Four maximum payouts, and every one of them is published

Asked what the most a trader can withdraw is, the firm’s own live pages give four incompatible answers.

How It Works — linked from the main navigation and the most recently updated page on the site — answers under a heading called “The Payouts Process”: “Maximum Payout — No hard cap — request up to your full available balance.” The same block promises “No payout reviews. No chart screenshots. No video submissions. You meet the criteria, you get paid.”

Payouts & Profit Splits answers: “1st payout is capped at $1,500, 2nd payout is capped at $2,500, and from the 3rd payout onward the maximum is $5,000 per withdrawal.”

Maximum Withdrawal Request answers: Rise “1st Payout: Capped at $2,500,” second at $5,000, “3rd+ Payouts: Capped at $12,000 per request.” Payout FAQ repeats those figures and adds “Maximum per payout request: $12,000.”

Payouts & Funded Accounts answers: “Third payouts and beyond are uncapped, but requests over $5,000 may trigger manual review.”

So a third payout on a Rise account is simultaneously $5,000, $12,000, uncapped, and subject to no hard cap at all. The Payout Policy Overview manages to contradict itself within one page: a bullet states “Third+ payouts: $12,000,” and the worked example table below it prints “Uncapped” in the same cell.

The profit split fragments identically. How It Works advertises “up to 90%… on Rise accounts, up to 95% on Elite.” Payout Policy Overview puts Rise on a payout-count ladder — 75% for payouts one and two, 85% for three and four, 90% from five. Payout FAQ sets that same 90% tier on a time condition instead, “after 3+ months of clean, consistent trading.” And Payouts & Profit Splits publishes a fourth ladder entirely: “50% on your 1st payout, 75% on your 2nd, 80% on your 3rd, 90% on your 4th, and 100% from your 5th payout onward.”

A trader taking a first Rise payout is therefore entitled to 50%, 75% or up to 90%, capped at $1,500, $2,500 or nothing at all, after either five, seven or ten trading days, having logged either five winning days of $200 or seven of $250, with a minimum request of $250, $500 or $750, paid within either 24 hours or 48 business hours. Every figure there is quoted from a page returning HTTP 200 today and listed in the sitemap index the firm generated on 9 September 2026.

The promise that survives least well concerns review. How It Works says “No payout reviews.” Maximum Withdrawal Request says “All payout requests over $5,000 are subject to manual review by the Risk Team to verify consistency and trade behavior.” Payout Policy Overview describes every payout as manual, instructing traders to email their name, account number and amount, after which “our team will manually review your account and process payouts within 48 hours (business days).”

What we could not verify. This review carries no quoted trader testimony because we could not locate a single verifiable, attributable first-hand account of a Legacy Funded Futures payout, paid or denied. Searches of r/PropFirmTester and r/propfirms via the PullPush archive returned no submissions or comments mentioning the firm at all — which supports “none locatable” rather than “none exist,” the archive being incomplete. The firm has no Prop Firm Match profile, publishes no pass rate and no payout statistics, unlike Earn2Trade, which publishes its own 8.89% pass rate. Nor could we establish which of the four schedules the dashboard enforces, since that is visible only from inside a funded account. Get the operative cap in writing from support before paying.

The one public reputation signal that does exist is Trustpilot, where the firm scores 4.4 out of 5 from 96 reviews — 81% five-star, 14% one-star, claimed 25 January 2026, no warning notice, most recent review published 7 September 2026, and no paid features or solicited invitations. Ninety-six reviews is a thin base on which to judge payout reliability, and the firm’s own homepage widget still advertises “TrustScore 4.5 | 29 reviews,” under a third of the current count.

The rules that quietly end accounts

Withdrawals eat your loss limit. “Withdrawals reduce your account balance and count toward your Maximum Loss Limit (MLL).” The firm’s own example shows a Rise 50K grown to $54,000, a $4,000 withdrawal, and a balance back at $50,000 — at which point, in its words, “Any further loss = account closure.” Payout Policy Overview describes the same mechanic as counting toward “your Daily Drawdown” instead — a different bucket with a different consequence.

Retention rules can deny an earned payout. A request is denied if you “give back over 35% of your total profits,” fail to retain 65% of profits at the time of request, or if one trade or day generated 40% or more of total profit. A day producing more than 3% of account balance separately triggers a cooldown halving contract size the next session.

The consistency rule gates the payout button, not the account. On Rise funded accounts no single day may reach 30% of total net profit, and “your payout button will remain disabled until this rule is met.” The account is not breached; the money is simply not withdrawable until the ratio is ground down. Three different thresholds across one product line is the structure we found at Uprofit.

Failing a funded account is expensive. An evaluation reset costs $99 to $179 on Rise. A funded reset costs $649 on a 50K, $1,099 on a 100K and $1,499 on a 150K, per Account Resets and Renewals — more than eight times the evaluation fee on a 150K. The Instant account rules add a ten-second minimum hold: more than five trades under ten seconds and the account becomes payout-ineligible.

One contradiction sits on a single page. How It Works states “Minimum 2 trading days, maximum 60 calendar days,” then markets “Unlimited trading days on all plans. No time pressure on your evaluation” three paragraphs later.

How the payout terms compare

Term	Legacy Funded Futures	PipFarm	Elite Trader Funding
$100,000 account fee	$149 Rise plus $99 activation	$280 to $490 by mode	From $16.50 promotional
Maximum payout	$5,000, $12,000, uncapped or “no hard cap” — four published answers	$5,000 hard cap on every payout, plus a 6% of balance ceiling	$25,000 lifetime across all accounts
Profit split	50% to 100% — four published ladders	70%, rising to 99% at Rank 6	100% of first $12,500, then 90%
Drawdown	Trailing on end-of-day closing balance	Static 6% on one-stage; never trails	Intraday trailing on unrealised equity
Payout cadence	Every 14 calendar days	30 days default; 14 days costs 15% more	Same-day approval available
Days before first payout	5, 7 or 10, depending on the page	Three per stage in Classic mode	Eight qualified days on most plans

Competitor figures come from The Industry Spread’s own reviews of each firm. On drawdown Legacy is the most generous of the three; Elite Trader Funding’s unrealised-equity trail is the harshest. On the payout rows Legacy is the only one of the three whose terms cannot be stated as a single number.

Who is behind Legacy Funded Futures

The firm is candid about its regulatory position. Its Risk Disclaimer states: “We are not registered with the SEC, CFTC, NFA, or any financial regulatory authority.” That is normal for the retail prop sector. The same page goes further than most, however, stating that “any funded accounts provided through Legacy Funded Futures may still operate within a simulated environment. You are not trading with real capital, nor are you entitled to real market profits,” and that “payouts may be simulated or conditional.” It confirms the firm “is not a broker, does not hold client funds.”

No broker, clearing firm or liquidity provider is named anywhere on the site. Across the home page, About Us, How It Works, Why Us, the FAQ hub, the legal pages and the product page, the words broker, clearing, liquidity, FCM, CFTC and NFA do not appear in visible text at all. The identifiable vendors are all infrastructure rather than counterparties: the dashboard resolves by CNAME to Axcera, a white-label prop-firm CRM vendor whose own site says it is “not a broker, prop firm, or financial services provider”; DXtrade is Devexperts’ broker-agnostic front end; and Riseworks, which sends the payouts, is a contractor-payroll rail. None holds customer money as a broker would. Weigh that against Topstep, explicit about where live capital begins, and BluSky, which names its brokerage stage.

A search of the NFA’s BASIC register on 9 September 2026 returned no registration for “Legacy Funded Futures” or “Legacy Funding.” That is consistent with the firm’s own disclosure and is not a finding against it — a firm selling simulated evaluations is not required to register. It does mean there is no regulator to appeal to over a denied payout. Two facts frame the scale claims: the domain was registered on 23 June 2025 through Squarespace Domains, making the business around fourteen months old, and the firm’s Discord reports 10,338 members — so “7,000+ traders in our Discord” is understated, while “10,000+ traders already chose Legacy” on the FAQ hub appears to track that Discord headcount rather than paying customers.

That disclaimer also calls the evaluation fee “non-refundable” and “not eligible for refund or future application.” The Refund & Cancellation Policy says the opposite: “You’re eligible for a full refund if no trades have been placed on the account after purchase,” within 14 days.

The corporate identity is where the drafting is loosest. The Terms and Conditions open by naming “Legacy Funded Futures LLC dba Legacy Funded Futures,” then direct arbitration notices to a different entity: “Legacy Futures LLC dba Legacy Funded Futures, 1309 Coffeen Avenue, Suite 1200, Sheridan Wyoming 82801.” The Risk Disclaimer’s contact block names “Legacy Funded Futures LLC” and then calls it “A Business Division of Legacy Funded Futures LLC” — the company is a division of itself. The How It Works footer uses a third construction, “Legacy Futures Funding.” Across the FAQ the operator is simply called “Legacy Funding.” The Account Resets and Renewals page goes further and prints a support address at legacyfunding.com four times — a domain the firm does not own. It resolves to a live site belonging to an unrelated life-insurance brokerage in Chandler, Arizona. A trader following the firm’s own published instruction on that page would be emailing a third party.

We attempted to establish which entity is registered by searching the Wyoming Secretary of State’s business filing database directly. That search tool served an automated bot-detection challenge, which we did not bypass. We were therefore unable to confirm or refute the registration status of either “Legacy Funded Futures LLC” or “Legacy Futures LLC,” and make no claim either way. What is verifiable from the firm’s own documents is that it names two different LLCs at one Sheridan address under a third trading name.

Governing law is a three-way split in the firm’s own terms: the agreement is “governed by the laws of the Cayman Islands,” disputes “must be brought in the courts located in Miami-Dade County, Florida,” and the entity is a Wyoming LLC. The arbitration forum is given twice — the Terms specify “binding arbitration under JAMS rules,” while the Refund policy specifies “the rules of the American Arbitration Association” and asks users to “waive the right to initiate chargebacks or legal action in court.”

Some of the incoherence has a mundane explanation: the site runs two parallel FAQ systems, an older set at /faq/ and a newer help centre at /faq-new/, both live and both listed in the sitemap index generated on 9 September 2026. That is housekeeping rather than deception. But a trader reading the site today cannot tell which set governs, and the newest page on the site is the one promising no cap and no reviews.

Frequently asked questions

What is the maximum I can withdraw?
The firm publishes four answers across four live pages: no hard cap, $5,000 from the third payout, $12,000 from the third payout, and uncapped from the third payout. Nothing on the public site resolves the conflict. Get the figure confirmed in writing by support before paying any fee.

Is the funded account real money?
The firm’s Risk Disclaimer says funded accounts “may still operate within a simulated environment,” that you are “not trading with real capital,” and that “payouts may be simulated or conditional.” It also confirms the firm is not a broker and holds no client funds. No broker or clearing firm is named on the site.

How does the trailing drawdown work?
It trails your end-of-day closing balance rather than intraday equity, and only moves up after a profitable close. On a Rise 50K the limit is $1,500 and on an Elite 50K $2,000. One FAQ page describes the Rise drawdown as 4%, which matches neither figure.

What does it cost if I blow a funded account?
A funded reset is $649 on a 50K, $1,099 on a 100K and $1,499 on a 150K — six to eight times the cost of the evaluation itself. Evaluation resets are far cheaper at $99 to $179 on Rise.

Is Legacy Funded Futures regulated?
No. Its own Risk Disclaimer states it is “not registered with the SEC, CFTC, NFA, or any financial regulatory authority.” That is standard across the sector, but it means there is no regulator to appeal to if a payout is denied, and the arbitration and class-action waiver clauses narrow the alternatives further.

This review is independent editorial analysis and is not financial, investment, or trading advice, and is not an endorsement or solicitation. The Industry Spread has no affiliate or referral relationship with the firms covered. Proprietary trading challenges carry a fee that is generally non-refundable, most participants do not reach a funded account, and funded capital is the firm’s capital, not the trader’s. Terms change frequently — always verify current rules directly with the firm before paying any fee.