SizeProp key terms at a glance

• Challenge fee: $580 for a $100,000 Degen account and $999 for a $100,000 1-Step account, list prices on the SizeProp homepage on 22 September 2026. The fee is non-refundable in all cases, according to the firm’s refund article.
• Account sizes: $5,000, $10,000, $25,000, $50,000 and $100,000, with $200,000 listed as coming soon (help centre).
• Payout split: 80% by default, or 90% or 95% if chosen at checkout. The split is fixed for the life of the account (payout split article).
• Profit target: 8% on Degen and 10% on 1-Step. Only closed profit counts towards it (Our Rules, revised 12 May 2026).
• Maximum drawdown: static, measured from the starting balance: 3% on Degen and 5% on 1-Step.
• Daily loss limit: 2% on Degen and 3% on 1-Step. It is recalculated from balance at 8:00 PM UTC each day and enforced on equity in real time.
• Payout frequency: requests can be made 24/7 with no waiting period. The minimum is $50, there is no stated maximum, and payment is in USDT on ERC-20 only (payout timing article).
• Minimum trading days: none. The account must place at least one trade every 90 days to stay active.

Who runs SizeProp and what it actually sells

SizeProp launched in October 2025. It is operated by SIZ EDU Limited, a Cayman Islands company registered at Cannon Place, North Sound Road, George Town, according to the disclosures on its withdrawal policy page. The founder is Windra Thio. His own founder’s article describes him as formerly on the founding team of Element Finance and a former executive director of the HyperVue Foundation. It also describes a five-person, remote-first team.

In May 2026 SizeProp said it had closed a pre-seed round led by Igloo Inc, the company behind Pudgy Penguins. The round was structured as a SAFE, and no amount was disclosed, according to the Chainwire announcement. In that release Thio said: “Igloo’s backing isn’t just capital, it’s validation that prop trading is a real, fast-moving category.” The backing is unusual for a small crypto prop firm, but it does not change the product.

What the trader buys is a simulated account. SizeProp built its own web terminal instead of licensing MetaTrader or a white-label platform. The terminal shows order-book data sourced from Hyperliquid, Trade.xyz and Bybit. That means crypto perpetuals, plus tokenised gold, oil, US equities, indices and two FX pairs, all quoted in USDT. The firm’s legal pages are plain that no user trade is executed on any live market. They also state that any payout is a discretionary reward based on simulated performance. That sits awkwardly beside the founder’s claim that funded capital “comes from the firm’s own balance sheet.” On SizeProp’s own terms, there is no live capital to allocate.

We checked whether SizeProp is a front brand. We found no sign of the white-label assessment providers behind many retail prop brands. The firm names its own operating entity and builds its own platform. Identity checks are run by Sumsub, and crypto payments for evaluations go through Confirmo.

What SizeProp publishes about payouts, and what we could not verify

The mechanics are clearly documented. You close every position and cancel every order, complete KYC, and request any amount above $50 in USDT to an ERC-20 wallet. Bank withdrawals are not supported. The payout calculation article gives a worked example: $8,000 of eligible profit at a 95% split pays $7,600.

The track-record numbers are another matter. They come only from SizeProp, and they do not agree with each other. The founder’s article, last verified 27 May 2026, claims 100+ payouts processed, zero denied, 200+ funded traders and 2,500+ total users. The press release eight days earlier cited 3,500+ traders. Both say more than $50M in prop capital has been granted. That figure is the notional size of simulated accounts issued, not money paid to anyone. The founder’s article says the cheapest entry is $19. The press release says evaluations start at $35.

What we could not verify:

• The total dollar value of payouts. SizeProp does not publish one.
• The wallet address that payouts are sent from. Without it, the “same-day USDT” claim cannot be checked on-chain. The homepage payouts section says on-chain verification is “launching soon”.
• The Trustpilot rating. The founder cites 4.6 from 50+ reviews. Trustpilot blocked our automated check, so we cannot confirm the score, the review count or how recent the reviews are.
• Any audited pass rate or funded-trader retention figure. None is published.

Payouts can be rejected for failed KYC, rule violations, “suspected prohibited or abusive trading activity” or a sanctioned wallet, according to the payout rejection article. Ten months of operating history is too short to judge how the firm uses that discretion under pressure.

The rules that will end most SizeProp accounts

Target against drawdown. Degen asks for 8% with a 3% static maximum drawdown and a 2% daily loss limit. The target is 2.7 times the total loss allowed. 1-Step asks for 10% against a 5% drawdown and a 3% daily limit, a 2:1 ratio. HyroTrader’s one-step asks for the same 10% against a 6% maximum loss.

Leverage caps. BTC, tokenised gold and SPCX allow up to 5x. Every other pair is capped at 2x, according to the trading pairs article, and traders cannot change it. On a $100,000 Degen account, an altcoin position can be no larger than $200,000 notional. That makes an 8% target hard to reach without concentrating risk in BTC.

Fees count against the limits. Each open and each close is charged 0.055%. Open positions pay a 0.0167% swap every eight hours, about 0.05% a day (fees article). A full $200,000 round trip costs $220 in commission, which is 7% of the $3,000 Degen drawdown buffer.

Equity breaches while in profit. Limits are enforced on equity, including open losses. An account that is up overall is still closed if intraday equity touches the daily floor. The firm states there are no warnings, grace periods or appeals.

Payouts shrink the daily buffer. On funded accounts, a payout lowers the balance and the daily loss floor by the same amount until the next 8:00 PM UTC reset. The funded account also restarts at the original balance, not the evaluation’s ending balance.

One account at a time. A trader can hold either one evaluation or one funded account, never both. Prohibited practices include tick scalping, HFT, latency exploitation, copy trading from third parties and hedging across accounts.

News trading, overnight and weekend holding, scalping and hedging within a single account are all permitted. There is no consistency rule at either stage.

One discrepancy is worth noting. The Our Rules document describes a 2-Step evaluation with 4% daily loss, 6% maximum drawdown and targets of 5% then 10%. The homepage and the help centre offer only Degen and 1-Step. Buyers should confirm which products are actually on sale before paying.

SizeProp against two other crypto-native prop firms

Term	SizeProp (1-Step)	HyroTrader (one-step)	Crypto Fund Trader (Break)
Profit target	10%	10%	$3,000 (Break card)
Maximum loss	5% static	6%	$2,000 trailing
Daily loss	3%	4%	Not listed on Break card
Minimum trading days	0	5	1
Starting profit split	80% (95% max)	80% (90% max)	80%
Consistency rule (funded)	None	None stated	40%
Self-reported paid out	Not disclosed	$7M+	$21,270,544

Sources: SizeProp rules, the HyroTrader homepage and the Crypto Fund Trader homepage, all accessed 22 September 2026. HyroTrader and Crypto Fund Trader both publish a lifetime payout total. SizeProp does not. On rules, SizeProp is the most permissive of the three: no trading-day minimum and no consistency test. It also has the tightest loss buffer relative to its target. For a longer-established crypto alternative, see our Breakout Prop review.

Regulatory posture

SizeProp is not regulated, and it does not claim to be. SIZ EDU Limited describes itself as a provider of simulated trading and educational tools. It says it is not a broker, exchange, custodian or financial institution, and that it does not accept deposits. Disputes are handled under the firm’s own Terms of Service. The help centre does not name an outside ombudsman or regulator. The firm restricts residents of 27 countries and three Ukrainian regions, including the UAE, China, Russia and Vietnam. The United States is not on that list. Using a VPN to get around the restrictions leads to termination and forfeiture of pending payouts.

That places SizeProp in the same unlicensed evaluation model as most of the sector, which regulators are only beginning to address. See our analysis of where the prop-firm regulatory perimeter actually bites.

SizeProp FAQ

Is SizeProp legit?

SizeProp is a real, identifiable business. It has a named Cayman operating entity, a named founder and a pre-seed round led by Igloo Inc, announced in May 2026. Its payout record, however, is self-reported and cannot be independently verified. The firm has operated only since October 2025, which is too short to judge how it behaves in a dispute or a downturn.

Does SizeProp trade real money?

No. The firm’s legal disclosures say all trading is simulated and no user trade reaches a live market. Order-book data comes from Hyperliquid, Trade.xyz and Bybit. Payouts are described as discretionary rewards based on simulated performance, not profits from market activity.

How are SizeProp payouts paid?

Only in USDT on the ERC-20 network, with a $50 minimum and no stated maximum. You must close all positions, cancel all orders and pass Sumsub KYC first. There is no bank-transfer option, so traders need a self-custody or exchange wallet that accepts ERC-20 USDT.

What leverage does SizeProp allow?

Up to 5x on BTC, tokenised gold and SPCX, and 2x on every other pair. Traders cannot adjust it.

Can I run several SizeProp accounts?

No. SizeProp allows one active paid account at a time: either an evaluation or a funded account. You cannot start a new evaluation while a funded account is live, which rules out the account-stacking many traders use elsewhere.

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.