Pivex review: two legal names, and no split in the terms

Verdict: Pivex suits a trader who reads the contract before the pricing card. The Terms of Use and the Membership Agreement name only VITIORIA LIMITED of Nicosia. A US copy on the about page names ALTEXX DIGITAL CORP. of Dover, Delaware, and that name is not in the contract. It does not suit anyone who treats the advertised 80% as a right: the terms state no split and no deadline. Accounts are simulated, no payout total is audited, and a membership keeps billing after a failed challenge until the trader cancels.

Key terms

• Challenge fee: on 18 October 2026 the cards showed €49.99, €99.99, €199.99 and €299.99 a month for $10,000 to $100,000. The Membership Agreement does not print those figures. Any later standard price is on the payment screen, which this review did not open. The fee is not a deposit.
• Account sizes: those four on the cards. Another block still says up to $200,000. The Terms of Use list no menu of sizes. They cap scaling at a simulated $1,000,000 and cap same-strategy capital, including related accounts, at $400,000.
• Profit split: the cards and the contact page say 80%. One homepage answer says 80–90%. The terms state no percentage.
• Profit target: 10% of initial capital in the Trading Challenge. The terms record the trader-stage objective as "N/A".
• Maximum loss: equity must not fall by more than 6% of the initial size, at either stage. Commissions and swaps count. The terms do not describe a trailing peak.
• Daily loss: 4% of initial equity at both stages in the terms, including commissions and swaps.
• Payout: the terms allow a performance review every 14 days and set no split, minimum, rail or deadline. The cards say 14 days. The contact page says weekly, within 24 hours.
• Minimum trading days: three in the terms, at both stages. The cards and the contact page say five.

Two legal names, and the contract names one

On 18 October 2026 both sites sold a simulated Trading Challenge and a Pivex Trader stage. The pivexfunded.com footer calls that site a marketing and payment page for the account on pivex.com. Neither redirected to another firm. The homepage and the contact page name MatchTrader. The terms do not.

The Terms of Use open with "We, Pivex, VITIORIA LIMITED, a company registered at Digeni Akrita & Kleomenous 2, Nicosia, Cyprus, registration number: HE 477841". The Membership Agreement uses the same company and the same street. Cyprus law governs. Disputes go to individual arbitration at National Arbitration and Mediation, with a class-action waiver.

Related:MixFunded review: sales cards and the rulebook clash

The footers do not keep one office. pivex.com says VITIORIA LIMITED is "registered in Limassol" and then gives Digeni Akrita & Kleomenous 2, 2nd Floor, 1061, Nicosia. The about and contact pages give Christaki Kranou, 1, Germasogeia, 4047, Limassol, for the same number. The about page says Pivex Funded is not Pivex Group LTD. No UK filing was opened.

The about-page source also carries a US line the rendered footer did not show: Pivex Funded "is operated by ALTEXX DIGITAL CORP., a company registered in Delaware, USA", at 3500 South Dupont Highway, Dover, DE 19901. The contract does not mention Altexx. A registry reprint updated on 15 October 2026 lists VITIORIA LIMITED, ΗΕ 477841, active since 11 July 2025, with JURIBEST LIMITED as director and LITOLEX SERVICES LIMITED as secretary. The page says that extract may be outdated. It does not name Altexx, and no Delaware filing was opened.

What Pivex publishes about payouts

A Membership rebills every 30 days until the account qualifies, the customer cancels, or the firm ends it. It cannot be paused, and a breach does not stop the bill. Fees are non-refundable except where the law requires it. A one-off fee comes back once, only after the third reward is validated. The contact page says the fee is refundable. The footer says purchases are not.

The cards say 80% on a 14-day schedule. The contact page says 80% of "trading profits", paid weekly, within 24 hours. The homepage says "Trade risk-free" and "get paid instantly", then under 30 seconds, for non-US countries only. The terms state no rate and no clock. The notional funds are fictitious and may not be withdrawn. The only timetable is a review every 14 days.

The homepage prints a highest reward of $12,160, an average of $3,455, 30,000-plus customers and $500 million-plus in accounts. The footer calls that performance hypothetical. Testimonials, including a claim of about $2,800, were not matched to a bank record. Trustpilot did not load. No audited total was published.

Pivex exists because we know talent is everywhere—opportunity isn't. We've built a system where anyone with skill and discipline can access capital, earn real profits, and grow—all without risking a cent of their own money. With simulated capital, and real payouts, we're empowering everyday traders with the window to prove themselves, without risk holding them back.

Azamat Kalam, CPO at Pivex, said that in the 4 July 2025 release. That release priced a one-time challenge starting at $49 and promised 80% of "real profits". The October 2026 terms still state no split, and the cards now show monthly euro fees.

Rules that can close the account

Section 12 says a breach closes the positions and may ban the account. Daily loss is 4% of initial equity and the floor is 6% of the initial size, commissions and swaps included, from the start rather than a high-water mark. Three trading days are required; the cards say five. The largest trade cannot exceed 50% of total profit. Section 12 bars 30 silent days at either stage, while section 18's automatic close skips a Membership. Grid trading, stacking and cross-account hedging are prohibited. The firm may call a strategy prohibited and refuse a fee refund. "Up to 1:30" is on the cards, not in section 12. A 15% simulated return can raise the balance 30%, to $1,000,000. The marketing block alone calls that quarterly.

A $100,000 account against two other firms

The Pivex column is the $100,000 card and the terms opened on 18 October 2026. CK Prop is the 2-Step Standard at $100,000 in our CK Prop review of 15 October 2026. Carrot Funding is the two-phase $100,000 path in our Carrot Funding review of 14 October 2026. A wider set is in the 2026 payout comparison.

Pivex puts 80% on the card and leaves it out of the terms. On all three, the balance is not the trader's money, which is the point of what a funded account is.

Simulated capital, and no regulator on the page

The footer says VITIORIA LIMITED is not a broker and is not under the direct oversight of a financial regulator. "Funding" means an internal evaluation, not real funds. It says it holds no client money, so CASS 7 is not this contract. The prop-firms desk treats that as the usual posture, not as a comfort.

The terms exclude the Democratic People's Republic of Korea, Iran, Myanmar and Russia. They do not name the United States. The July 2025 release, which said North Korea, also said the firm did not then onboard US residents.

Frequently asked questions

Who is the contracting party?

The terms name VITIORIA LIMITED, HE 477841, in Nicosia. A registry reprint updated on 15 October 2026 shows it active from 11 July 2025, with a corporate director and secretary. A US copy on the about page names ALTEXX DIGITAL CORP. of Dover, Delaware. That name is not in the contract. The about and contact footers use a Limassol street for the same Cyprus number.

Is the 80% split in the terms?

No. The cards, the contact page and the July 2025 release say 80%. One homepage answer says 80–90%. The Terms of Use state no percentage, no minimum withdrawal, no payment method and no deadline. They allow a performance review every 14 days. A reward is the trigger for a one-off fee refund. The rate itself is a marketing line, not a clause.

Is the funded account live capital?

No. The terms say the notional funds are fictitious, that the customer does not own them, and that they cannot be withdrawn or used for real trading. The footer says a funded account is an internal evaluation. The homepage still talks about real rewards. What can be requested, if approved, is a performance reward paid by the company, not a withdrawal of the simulated balance.

When is the fee refunded?

On a one-off purchase, once, after the third performance-based reward is validated. Missing that reward, or a breach, ends it. Membership fees are non-refundable except where statute says otherwise, and a mid-cycle cancellation is not pro-rated. A failed challenge does not stop the rebilling. The contact page's refund line does not state those conditions.

What can close the account without a payout?

A loss of 4% of initial equity in a day, or 6% overall, including commissions and swaps. Grid trading, cross-account hedging, or a third party on the account, can end it with no fee refund. The largest single trade cannot exceed 50% of total profit. The terms say three minimum trading days. The cards say five. The firm may also call a strategy prohibited.

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.