What Upcomers does

Upcomers is a proprietary trading evaluation firm founded in 2023, headquartered in Dubai, UAE, with a European operational hub in Prague, Czech Republic. The company sells challenge programs that retail traders purchase to access simulated trading environments across five integrated platforms (MetaTrader 5, cTrader, TradeLocker, Match-Trader, Bybit), with evaluation rules designed to filter traders who can then receive 'funded' status on virtual capital up to $1.5 million per account, scaling to $4 million. The trading environment is explicitly simulated; Upcomers does not deploy firm capital at live market risk in the manner of a traditional proprietary trading firm. The platform is built on proprietary in-house dashboard technology, which the company highlights as a deliberate departure from white-label solutions.

Revenue is generated primarily through one-time challenge fees (starting from $15.90 and scaling with account size and program complexity), instant-funding access fees via the Vanguard program, and a multi-tier affiliate program that pays up to 50% on first referrals plus multi-level network bonuses. Additional products include the Breakout program (a behavioral data simulation offering fixed research incentives up to $10,000), a Scaling Plan, VIP tier, and a University education product. Distribution is fully self-serve through the website with no retail intermediary, supported by 24/7 AI chatbot support, a Discord community, and a YouTube testimonial channel featuring 20+ verified payout interviews. Claimed scale metrics include 65,000+ registered traders, 170+ countries served, $6M+ in verified payouts, a 4.8/5 rating from 2,800+ reviews, a 99% payout approval rate, and an average payout processing time under one hour (marketed as 12 hours).

The corporate structure spans three entities: Royal Flow - FZCO (UAE, primary, license 35886), Upcomers Ltd. (Saint Lucia, MT5 operations), and UPCOMERS LTD (Cyprus, payment processing). No financial regulatory licenses are disclosed, and the company explicitly restricts service to 21 jurisdictions (including UAE, Russia, Iran, North Korea, Venezuela). Notable risk factors include the absence of disclosed external funding, no regulatory licensing, a customer base entirely concentrated in the retail prop-trader segment, and heavy reliance on the continued growth and reputational standing of the simulated-funded prop-firm category.

Name

Upcomers

Legal name

Upcomers Ltd.

Website

https://upcomers.com

Company type

Private

Founded year

2023

Operating status

Operating

Headcount range

11–50 employees

Short description

Upcomers is a Dubai-based proprietary trading evaluation firm, founded in 2023, that sells challenge programs enabling retail traders globally to access simulated funded accounts up to $1.5 million and earn profit splits up to 99%.

Ownership category

akta.pro rank

Product category

Proprietary Trading Evaluation

NAICS

Securities and Commodity Contracts Intermediation and Brokerage (5231)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Multi-Asset Alternative Trading Systems (ATS) / Multilateral Trading Facilities (MTF) (FSAFAEAC)

Keywords

• Prop trading challenges
• Funded trading accounts
• Trader evaluation programs
• Profit split funding
• Simulated trading evaluation

Headquarters

HQ city

Dubai

HQ country

United Arab Emirates

HQ region

Middle East

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Trading Challenge Fees: One-time fees for purchasing trading challenges (Thunderbolt 1-Phase, Ascended 2-Phase, Astral 3-Phase, Breakout programs). Fees vary based on account size, risk parameters, and program type. Starting from $15.90 per challenge.
2. Instant Funding Access Fees: Fees for instant funding programs (Vanguard) that allow traders to access funded accounts without completing traditional multi-phase challenges, subject to separate trader program agreement.
3. Affiliate Program Revenue Share: Revenue sharing with affiliate partners through multi-tiered commission structure (up to 50% on first referral orders, decreasing tiers for subsequent orders, plus network bonuses and reward split commissions on funded trader payouts).

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Upcomers is a proprietary trading evaluation firm that sells trading challenges and funded account programs to retail traders worldwide. Traders pay one-time fees (starting from $15.90) to enter simulated trading challenges across 1-phase, 2-phase, or 3-phase structures on multiple trading platforms (MT5, cTrader, TradeLocker, Match-Trader, Bybit). Successful traders receive funded accounts of up to $1.5M with profit splits reaching 99%, plus instant funding options and scaling plans up to $4M.

Product overview

Upcomers is a proprietary trading evaluation company operating as a platform-plus-products architecture. The core offering consists of multiple challenge programs (Classic, Thunderbolt, Ascended, Astral) that evaluate trading skills through simulated challenges, plus the Instant Funding/Vanguard option for immediate funding. The Breakout program operates separately as a behavioral data simulation for research purposes. Traders who pass challenges receive funded accounts with profit splits up to 99%. Add-on programs include the Scaling Plan, VIP Program, and 4M on Request for growing account sizes, plus an Affiliate Program for referral commissions and a University for trader education. The platform supports five trading platforms: MetaTrader 5, cTrader, TradeLocker, Match-Trader, and Bybit.

Differentiator

Problem solved

Functional benefit

Products and services

• Classic Challenge (Thunderbolt) 1-phase proprietary trading evaluation challenge that allows traders to demonstrate trading skills in a simulated environment and, upon success, receive a funded trading account with profit sharing.
• Ascended Challenge (Phoenix) 2-phase trading challenge requiring traders to demonstrate consistency across two evaluation stages in order to qualify for a funded account.
• Astral Challenge 3-phase progressive trading evaluation challenge across three stages, with successful completion qualifying traders for a funded account.
• Instant Funding (Vanguard) Direct funding option that bypasses traditional multi-phase challenges, granting qualified traders immediate access to a funded account subject to a separate trader program agreement.
• Breakout Program Multi-phase behavioral data simulation program for algorithmic development and AI training purposes. Participants complete three phases testing consistency and discipline to earn fixed research incentives of up to USD 10,000. Not a trading funding program.
• Scaling Plan Program enabling funded traders to scale their account sizes over time based on consistent trading performance, with potential capital access reaching up to $4 million.
• VIP Program Premium tier program offering enhanced benefits and priority treatment for top-performing traders on the Upcomers platform.
• 4M on Request High-value funding option allowing traders to request accounts up to $2.5 million, with potential scaling to $4 million in trading capital.
• Affiliate Program Referral and marketing program allowing participants to earn commissions by referring new customers, featuring a tiered commission structure, network bonuses, and milestone bonuses up to $50,000.

Quantifiable outcome

• 65,000+ traders onboarded
• +5 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability2 records

Feature4 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• MetaQuotes (MT5)coreTechnology or Integration · 1 January 2023MetaTrader 5 (MT5) trading platform integration. All MetaQuotes trading platforms are operated exclusively by Upcomers Ltd. Technical solution and data feed powered by institutional liquidity providers. MT5 is one of five supported platforms.
• TradeLockercoreTechnology or Integration · 1 January 2023TradeLocker platform operated by Royal Flow - FZCO. Technical infrastructure, data feeds, and liquidity solutions provided by institutional third-party providers. Core supported platform alongside Bybit, Match-Trader, and cTrader.
• BybitcoreTechnology or Integration · 1 January 2023Bybit trading platform operated by Royal Flow - FZCO. One of five supported platforms providing simulated trading access within the evaluation program environment.
• cTradercoreTechnology or Integration · 1 January 2023cTrader platform integrated as one of five supported trading platforms for Upcomers evaluation programs. Operated by Royal Flow - FZCO.
• Match-TradercoreTechnology or Integration · 1 January 2023Match-Trader platform integrated as one of five supported trading platforms for Upcomers evaluation programs. Operated by Royal Flow - FZCO.
• GoogleminorGTM or Marketing Partner · 1 January 2023Google services utilized for analytics, advertising, and business operations. Listed as partner in 'Our partners we are proud to work with' section.
• Meta (Facebook/Instagram)minorGTM or Marketing Partner · 1 January 2023Social media and advertising partner. Instagram, X (Twitter), and Meta platforms referenced in affiliate terms as non-sponsored platforms for promotional activities.
• ConfirmominorGTM or Marketing Partner · 1 January 2023Partner company listed in 'Our partners we are proud to work with' section. Nature of partnership not detailed in available source material.
• Evernest Capital a.s.minorStrategic or Co-development Partner · 1 January 2023Czech company (ID No. 09696105) registered at Na Folimance 2155/15, Prague, Czech Republic. Organizes and administers the 'Win Trip to Dubai' giveaway in cooperation with Upcomers.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• eToro: eToro is a large, multi-asset retail trading and social-investing platform. While it operates as a traditional broker rather than a prop evaluation firm, it serves an overlapping retail trader audience and represents a broader incumbent in the same end market.

Direct peers

• Funded Trading Plus: Funded Trading Plus is a UK-based prop firm offering evaluation challenges and instant funding programs. Directly comparable in challenge model, profit-split structure, and multi-platform support to Upcomers.
• MyFundedFX: MyFundedFX is a US-based prop trading evaluation firm offering multi-phase challenges and funded accounts across forex and CFDs. Operates the same challenge-then-funded model and competes for the same retail traders as Upcomers.
• The5ers: The5ers is an established prop firm offering both instant funding and challenge-based programs with scaling plans. Directly comparable in offering structure, profit-split mechanics, and target customer to Upcomers.
• E8 Funding: E8 Funding is a US-based prop firm offering evaluation challenges and funded accounts across forex, indices, and commodities. Closely comparable in product set, customer segment, and global reach to Upcomers.
• TopTier Trader: TopTier Trader is a US-headquartered prop firm offering funded accounts across forex and futures with scaling plans. Comparable product structure (challenge → funded → scaling) and target retail trader base as Upcomers.
• Apex Trader Funding: Apex Trader Funding is one of the largest US-based futures-focused prop firms. While futures-focused, it shares the same evaluation-funded-scaling business model and target retail-trader customer as Upcomers.
• FundedNext: FundedNext is a fast-growing prop trading evaluation firm headquartered in the UAE, offering similar challenge programs, instant funding, and scaling plans. Closely comparable in size, regional footprint, and product set to Upcomers.
• FTMO: FTMO is the market-leading proprietary trading evaluation firm with over 200,000 traders globally. It offers nearly identical challenge programs, funded accounts, and profit splits, and competes head-to-head with Upcomers for the same retail trader segment.

Others

• MetaQuotes: MetaQuotes develops the MetaTrader 5 platform that Upcomers integrates as one of its five supported venues. As a platform/technology provider and ecosystem participant, it is not a direct competitor but a critical infrastructure partner for Upcomers' trading stack.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@upcomers
• Xx.com/upcomers_com
• LinkedInlinkedin.com/company/upcomers

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Upcomers