The verdict
How it scored
- Options-trading fit
- 9.3/10
- Profit split & payouts
- 8.6/10
- Rules & flexibility
- 8.0/10
- Pricing & value
- 7.2/10
- Trust & track record
- 5.5/10
What we liked
- The first and only prop firm built specifically for options trading
- Full 100% profit split, with payouts processed fast (minutes, not weeks)
- Trade any strike or expiration — full strategy flexibility
- Simple one-step evaluations, $10K–$150K, no minimum trading days on most plans
- US-based (Delaware) and open to options traders
Worth weighing up
- Brand new (founded 2024) with a short track record — the biggest risk
- Small, mixed review base (~3.7/5 on Trustpilot across few reviews)
- Some traders report concerns over rule enforcement and account costs
- Accounts are simulated; payouts depend on a consistency score (no day > 30% of profits)
- Single platform (DXtrade); pricing and rules change — verify before buying
Pricing & plans
Prices change often and discounts are common, always check the current promo before you buy.
| Plan | Account size | Profit target | Price |
|---|---|---|---|
| One-Step Options ChallengeCore program. No max trading period; trade any strike/expiration. Verify current pricing. | $10K–$150K | Single phase | One-time fee |
| Advanced Options ChallengeRequires a minimum of 4 active trading days. Higher target, same flexibility. | $10K–$150K | 10% · 5% max EOD trailing loss | One-time fee |
| Funded (post-evaluation)Payouts after $250+ profit and meeting the consistency score (no day > 30% of total). | Matches your plan | 100% split | Activation |
How Vanquish Trader works
Vanquish Trader is the first prop firm built specifically for options trading — equity options, not options on futures. Founded in 2024 and based in Delaware, it runs one-step evaluations on $10K–$150K simulated accounts at 1:1 leverage, on the DXtrade platform. You pass a profit target within the loss rules, then trade a funded (simulated) account and request payouts.
The headline appeal for options traders is flexibility and economics: you can trade any strike or expiration, there is no maximum trading period and no minimum trading days on most plans, and the funded split is a full 100% with fast payouts (the firm advertises minutes, not weeks).
Why it matters: a real options prop firm
Until Vanquish, funded options traders had almost no options: the established prop firms fund futures (and at best options on futures), not equity options like calls and puts on stocks. Vanquish is the first to fund equity options directly, which is genuinely new ground and the main reason to consider it.
For an options trader who wants buying power without funding a large personal account, that flexibility — any strike, any expiration, defined-risk spreads — is exactly what was missing from the prop space. The trade-off is that the firm itself is unproven.
Payouts, the consistency rule and the honest caveat
Funded traders keep a 100% profit split, with payouts available after a minimum $250 in profit and meeting a consistency score — no single day may account for more than 30% of total profit. That rule rewards steady results over one lucky day, which is sensible but worth planning around.
Now the honest part: Vanquish is brand new (2024) with a small, mixed review base — around 3.7/5 on Trustpilot across relatively few reviews. Some praise the fast execution and clean interface; others raise concerns about rule enforcement and account costs. We have not tested payouts ourselves. None of this makes it a scam, but a short track record is real risk — start small and confirm a payout works before scaling.
Who Vanquish Trader is for
Vanquish is for options traders who specifically want funded equity-options buying power and value a 100% split, fast payouts and full strike/expiration flexibility — and who accept that they are using a first-mover, early-stage firm. The one-step model and no-minimum-days rules suit traders who want to move at their own pace.
It is not for futures or forex traders, and it is a weaker pick if you want a long, proven payout history — established futures firms have that, Vanquish does not yet. Risk note: accounts are simulated, payouts depend on the rules and the firm’s solvency, and no prop firm fee is guaranteed income — treat it strictly as risk capital.