Terms of service

1. Introduction and acceptance

1.1. These Terms of Service (“Terms”) govern access to and use of the PropFunding platform (“Platform”), operated by Prime Custody (Pty) Ltd (“Company”, “we”, “us” or “our”).

1.2. By registering, participating in any program, paying an activation fee or using the Platform, each trader (“Trader”, “User” or “you”) agrees to these Terms and the applicable published trading rules and policies.

1.3. PropFunding offers a simulated PRP-based trading and performance program with qualification, verification, activation and contractual redemption conditions.

1.4. If you do not agree to these Terms, do not use the Platform. Account-specific terms shown during registration may supplement these Terms.

2. Eligibility and registration

2.1. Traders must be at least 18 years old, legally capable of contracting and located in a jurisdiction where participation is permitted.

2.2. All information provided must be accurate and kept current. We may require identity verification, sanctions screening, anti-money-laundering checks and other compliance materials.

2.3. Only one active free-entry account is permitted per individual. False identities, duplicate accounts, account sharing and circumventing eligibility limits are prohibited.

2.4. We may restrict participation where required by law or legitimate compliance and security requirements. Traders are responsible for securing credentials and reporting unauthorised access.

3. Simulated trading and PRP

3.1. PropFunding provides simulated trading accounts. Trading takes place in a simulated environment using PRP, a proprietary simulated trading and accounting unit.

3.2. PRP measures simulated account balances, performance, profit and loss, drawdown and eligibility for contractual redemptions. PRP is not legal tender, a transferable cryptocurrency, a deposit, or ownership of actual trading capital or underlying instruments.

3.3. Trading profits shown on the Platform are simulated. Only eligible PRP profit amounts that satisfy these Terms can give rise to contractual USDC redemption entitlements.

3.4. Use of the Platform does not create an employment, partnership or agency relationship between the Trader and the Company.

4. Free entry and qualification

4.1. Eligible new Traders receive up to two free-entry attempts, without an upfront activation fee.

4.2. The qualification target is a 1% gain relative to the original PRP account balance, subject to all trading rules.

4.3. There is no deadline to reach the qualification target, provided the account remains active and compliant.

4.4. A Trader must place at least one qualifying trade in each consecutive 14-day period. An account that exceeds 14 days without a qualifying trade is closed.

4.5. There is no consistency rule; however, an account needs at least three trading days to qualify.

4.6. After a breach of the first free account, an eligible second free attempt becomes available immediately.

4.7. Following breach of the second free attempt, future accounts must be purchased upfront under the applicable offer.

4.8. Free attempts are personal and non-transferable. Reaching the target does not waive verification, activation or compliance conditions.

5. Verification, activation and fees

5.1. After qualification the Trader must complete required KYC and any other compliance checks.

5.2. A 48-hour activation payment window begins following KYC approval. Activation is also subject to the minimum three-calendar-day account age.

5.3. One-time activation fees vary by account size and begin at USD 249, or as displayed for the selected program.

5.4. Activation fees are service fees, not deposits to a personal trading account. They are non-refundable except where required by law or expressly stated in an applicable refund policy.

5.5. Activation completes only once payment is successfully received and all applicable conditions are met.

5.6. On successful activation, the eligible +1% qualification profit is redeemed in USDC and the simulated account resets to its original PRP balance for activated trading.

5.7. We may decline activation where qualification or verification is invalid, the payment is reversed, or these Terms have been materially breached.

6. Trading rules and risk limits

6.1. Standard account rules are: 5% daily loss limit; 20% static maximum loss; leverage up to 1:20; USD 3 commission per standard lot round trip; eligible FX majors and minors.

6.2. Gold (XAUUSD) unlocks only once cumulative successful withdrawals reach 20% of the original account size.

6.3. The static maximum loss threshold is calculated from the original starting balance and does not trail gains.

6.4. The daily loss calculation resets at 00:00 GMT+2. Floating profit and loss on open trades counts when determining compliance with daily and maximum loss limits.

6.5. The exact base used to measure the 5% daily limit (for example, starting balance versus beginning-of-day balance or equity) must be specified in the published trading rule methodology applicable to the account.

6.6. Instrument conditions, margin and leverage may vary as set out in the applicable account specification.

6.7. We may automatically close positions, restrict activity or close accounts when applicable thresholds are breached. Traders must monitor exposure and margin.

7. Prohibited conduct

7.1. Traders must not manipulate qualification or exploit the Platform. Prohibited acts include identity fraud, sharing accounts without authorisation, abusing multiple accounts or free attempts, and exploiting pricing errors, technical failures or latency discrepancies.

7.2. Unlawful market manipulation, fabricated activity, attempts to circumvent risk controls, unauthorised system interference and referral abuse are prohibited.

7.3. Automated trading and third-party tools may only be used in accordance with published Platform policies.

7.4. We may investigate suspected violations, request supporting information and take proportionate corrective action, including account suspension, trade adjustments or termination, subject to applicable law.

8. PRP redemptions and withdrawals

8.1. The fixed contractual redemption rate is 1 PRP = 0.50 USDC. Eligible Traders receive 100% of eligible PRP profit allocation converted at that rate.

8.2. The initial +1% qualification redemption occurs following successful verification and paid activation and is separate from the standard withdrawal cycle.

8.3. The first standard withdrawal may be requested 14 calendar days after account activation. Subsequent standard withdrawals may be requested once every 14 calendar days, provided eligibility conditions are met.

8.4. The minimum standard withdrawal is 2% of the original starting balance, measured in PRP. The maximum is 20% of the original starting balance in any rolling 28-day period, measured in PRP.

8.5. All withdrawals require sufficient eligible simulated profits, compliance with account rules and successful payment checks. Requests may be held while suspected fraud or compliance concerns are investigated.

8.6. Where a Trader initiates a chargeback or payment reversal relating to an activation fee or other account payment, we may suspend the associated account and pending redemptions during investigation.

8.7. Following a confirmed chargeback or reversal, the Trader forfeits unpaid or unredeemed profit withdrawal entitlements associated with the affected account to the extent permitted by applicable law. Mandatory rights to dispute unauthorised or erroneous charges are not waived.

8.8. Approved USDC withdrawals are sent using a supported blockchain network to the wallet supplied by the Trader. Traders must supply accurate, compatible wallet and network details.

8.9. Once we have correctly initiated a withdrawal, we are not responsible for delays caused by blockchain congestion, validators, network outages or other external blockchain conditions outside our reasonable control. We remain responsible for errors or delays caused by our own acts or omissions as required by law.

8.10. Any applicable transfer or network charges must be disclosed before confirmation. Blockchain payments can be irreversible.

9. Withdrawal pool and exposure management

9.1. A defined portion of activation fees is allocated to the PropFunding Withdrawal Pool to support eligible PRP-to-USDC redemptions and broader exposure-management operations.

9.2. A portion of these resources may be deployed through proprietary market-making or exposure-management arrangements.

9.3. Pool allocations do not establish a Trader-owned deposit, segregated individual account, trust interest or guarantee of profitability or payment irrespective of eligibility.

9.4. Valid contractual redemption obligations remain governed by these Terms and applicable law.

10. Referral rewards

10.1. Eligible Users may refer new Traders using an assigned referral link or code.

10.2. A USD 25 reward, payable in USDC, accrues for each eligible referred Trader who successfully pays an activation fee. Registration or qualification alone does not earn the reward.

10.3. Rewards become withdrawable 14 days after the successful activation payment, provided the payment has not been refunded, reversed, charged back or disqualified.

10.4. Minimum referral reward withdrawal is USD 125. Payment requires a valid supported USDC wallet address and network.

10.5. A successfully withdrawn reward is marked claimed and removed from the available reward balance.

10.6. Self-referrals, fraudulent referrals, duplicate identities and repeated claims are prohibited. Ineligible rewards may be withheld or cancelled following review.

10.7. Program amendments will be notified on the Platform. Valid rewards already earned remain subject to the terms in effect when earned, except where fraud, reversal or law requires otherwise.

11. Data, privacy and intellectual property

11.1. We collect trading, account, performance, risk and usage information for service delivery, compliance, security, analytics and product improvement.

11.2. Aggregated or appropriately de-identified data may be used to develop proprietary analytics and trading systems, subject to applicable privacy law.

11.3. Personal data is handled under the Platform Privacy Policy and applicable legislation.

11.4. Platform technology, documentation, trademarks, software and related intellectual property are owned by us or our licensors. Traders receive a limited, non-transferable right to access the Platform for permitted use.

12. Risk disclosures and availability

12.1. Simulated trading performance is not a guarantee of future qualification, profit or redemption. Leverage, pricing conditions, volatility and operational interruptions may affect simulated results.

12.2. Nothing in the standard Platform service is personalised investment advice.

12.3. We aim to provide reliable access but cannot guarantee uninterrupted service. Maintenance, technical issues and third-party outages may interrupt access.

12.4. Nothing in these Terms excludes liability that cannot lawfully be excluded.

13. Suspension, termination and amendments

13.1. Traders may request account closure through official support. We may suspend or close accounts following material violations, fraud, legal requirements or serious risk concerns.

13.2. Where reasonably practicable, we will communicate material enforcement decisions and provide an opportunity to raise concerns.

13.3. Termination does not automatically extinguish valid accrued payment obligations, except where an enforceable forfeiture or other applicable provision applies.

13.4. We may amend these Terms for legal, product and operational reasons. Material updates will be notified where required by law, and continued use constitutes acceptance to the extent permitted.

14. Existing traders and legacy programs

14.1. Traders on PropFunding programs entered into before the October 2026 relaunch continue under their applicable existing agreements unless expressly agreed otherwise.

14.2. The new PRP program does not automatically change the commercial conditions, account rules or accrued rights of legacy Traders.

14.3. Prime Custody (Pty) Ltd is the contracting entity for these legacy arrangements as confirmed by the Company.

14.4. Migration of legacy account login access to a separate subdomain is an operational change and does not itself terminate or amend an existing agreement.

15. Liability and indemnity

15.1. To the extent permitted by applicable law, we are not liable for indirect, consequential or speculative losses relating to Platform use.

15.2. We are not responsible for losses caused solely by a Trader’s unauthorised sharing of credentials, inaccurate payment instructions or unlawful activity, except to the extent caused by our fault or applicable law.

15.3. Users will indemnify the Company for reasonable third-party claims arising directly from their fraud, unlawful conduct or material breach, to the extent enforceable.

15.4. Mandatory legal rights and non-excludable liabilities remain unaffected.

16. Governing law and disputes

16.1. These Terms are intended to be governed by the laws of South Africa, subject to counsel confirmation and any mandatory laws applying to the Trader.

16.2. Complaints should first be submitted through official Platform support for review and response.

16.3. Unresolved disputes are subject to courts or legally competent dispute-resolution bodies having jurisdiction, without prejudice to mandatory rights.

17. General provisions

17.1. If a provision is held invalid, remaining provisions continue in force. Non-enforcement of any provision is not a waiver.

17.2. These Terms and incorporated program policies form the agreement governing the applicable PRP program.

17.3. Expressly agreed account-specific provisions control to the extent they conflict with these general Terms.

17.4. We may assign obligations where legally permitted without unlawfully prejudicing Trader rights.

18. Company contact

Platform: PropFunding

Entity: Prime Custody (Pty) Ltd

Address: 2nd Floor, Nelson Mandela Square, West Tower, Maude St, Johannesburg, Gauteng, 2146, South Africa

Website: https://propfunding.com

Support: help@propfunding.com