Boxcar Trading Prop Firm Review
By Shahar
Published: · Last updated:
- US futures evaluations and simulated funded accounts, with a discretionary live review after five payouts.
- Flat 90/10 split on every programme and account size.
- Trailing end-of-day drawdown that locks at starting balance plus $100.
- One-time fee with no activation fee, but no refunds and no rebate.
- Every account runs on Rithmic, with nine supported front-ends.
Updated and verified on 19 October 2026
Fully verified on 19 October 2026 against Boxcar Trading’s official pages and a completed firm questionnaire dated 4 October 2026. Boxcar opened trading on 28 September 2026, so there is no payout history to verify yet. Terms can change at short notice on a firm this new.
Table of contents
TL;DR: Boxcar Trading in 30 seconds
- What it is: a New York futures firm that launched on 28 September 2026, with evaluation and simulated funded stages and a live review after five approved payouts.
- The split: 90/10 flat on every programme and every account size. There is no paid upgrade and no performance tier that raises it.
- The drawdown: trailing end of day on the highest closing balance, locking at starting balance plus $100. BoxcarPayout simulated funded is the exception and stays intraday including open profit.
- Billing: one-time evaluation fees from $78 to $836 before the ONTRACK code. No activation fee at funding, no refunds and no rebate.
- Payouts: ACH or crypto, $500 gross minimum, which is $450 to the trader at 90/10. Target turnaround is roughly two business days and no payout totals are disclosed yet.
- Best for: Rithmic-native intraday futures traders who want an end-of-day drawdown and a 90% split without a tiered upgrade path.
Boxcar Trading is a futures prop firm operated by Boxcar Trading Group LLC, a New York State limited liability company. It is one of the newest firms on this site: trading opened on 28 September 2026, ahead of the 1 October date the firm had originally announced. Four programmes are offered across $25K, $50K, $100K and $150K sizes. Every account runs on Rithmic. Platforms: Rithmic Trader Pro, NinjaTrader, MotiveWave, Quantower, Sierra Chart, Jigsaw, Bookmap, ATAS, MultiCharts.
Pricing snapshot
Futures pricing
| Program | Account size | Price | Billing | Notes |
|---|---|---|---|---|
| BoxcarPrime | $25K | USD 129 | One-time | BoxcarPrime evaluation, one-time fee. List price before the ONTRACK code; discounted prices are $90 / $140 / $225 / $300. No activation fee at funding. |
| BoxcarPrime | $50K | USD 200 | One-time | BoxcarPrime evaluation, one-time fee. List price before the ONTRACK code; discounted prices are $90 / $140 / $225 / $300. No activation fee at funding. |
| BoxcarPrime | $100K | USD 321 | One-time | BoxcarPrime evaluation, one-time fee. List price before the ONTRACK code; discounted prices are $90 / $140 / $225 / $300. No activation fee at funding. |
| BoxcarPrime | $150K | USD 429 | One-time | BoxcarPrime evaluation, one-time fee. List price before the ONTRACK code; discounted prices are $90 / $140 / $225 / $300. No activation fee at funding. |
Pricing last verified: 2026-10-15
Firm Overview
Boxcar runs the familiar US futures structure: a one-time evaluation, then a simulated funded account that pays real money out of the firm’s own funds, then a discretionary live review once five payouts have been approved. Progression to live is a review, not a guaranteed placement.
There is no regulator. The terms state that Boxcar is not a broker, not an FCM, not a CTA, not an investment adviser and not a fiduciary. Evaluation and simulated funded accounts trade virtual funds in a simulated environment, which is standard for this category and worth understanding before buying.
The commercial proposition is simple and unusually flat. The split is 90/10 on everything, the drawdown is end of day on three of the four programmes, and the fee is paid once. What Boxcar cannot offer yet is a track record, which is the single biggest thing to weigh against the terms.
Four Programmes, One Split
The lineup is BoxcarPrime, BoxcarFlex, BoxcarPayout and BoxcarFunded. The first three are evaluation programmes with identical profit targets and drawdown limits; they differ in how and how often you can take money out. BoxcarFunded skips the evaluation entirely and starts you in a simulated funded account.
| Programme | Evaluation target | Minimum days | What it is for |
|---|---|---|---|
| BoxcarPrime | $1,250 / $3,000 / $6,000 / $9,000 | 1 day possible | Fastest pass, scheduled payout cycle, 40% funded consistency ceiling |
| BoxcarFlex | $1,250 / $3,000 / $6,000 / $9,000 | 2 days under consistency | Five qualifying profit days per cycle, payout capped at 50% of cycle profit |
| BoxcarPayout | $1,250 / $3,000 / $6,000 / $9,000 | 2 days under consistency | Daily payout eligibility, in exchange for intraday funded drawdown |
| BoxcarFunded | No evaluation | 5 trading days per payout cycle | Direct simulated funded, 20% consistency per cycle |
One naming note. The questionnaire Boxcar completed on 4 October calls the second programme BoxcarScale, and at least one third-party write-up uses that name too. The official site now lists it as BoxcarFlex. We have used BoxcarFlex here because that is what the live plan page shows. Treat the two names as the same programme until the firm says otherwise.
The Drawdown Trails End of Day, With One Exception
On BoxcarPrime, BoxcarFlex and BoxcarFunded the maximum loss limit follows your highest end-of-day balance. Intraday floating losses do not move the floor by themselves, which is the behaviour most futures traders are looking for. The floor stops trailing once it reaches starting balance plus $100, and on BoxcarFlex a payout request also locks it there.
BoxcarPayout simulated funded is different. Its drawdown is intraday and it counts open profit, so an unrealised gain raises your floor during the session. That is the price of daily payout eligibility, and it is the detail most likely to surprise someone who read “end of day drawdown” on the homepage and assumed it applied everywhere.
| Size | Max loss: Prime, Flex, Payout | Max loss: BoxcarFunded | Optional DLL |
|---|---|---|---|
| $25K | $1,000 | $1,000 | None, or $600 |
| $50K | $2,000 | $2,000 | None, or $1,200 |
| $100K | $3,000 | $3,500 | None, or $1,800 |
| $150K | $4,500 | $5,000 | None, or $2,700 |
The optional daily loss limit works the way you would hope: adding one reduces the plan fee rather than costing extra. Hitting the DLL locks you out for the session. Touching the maximum loss limit breaches the account. On Prime funded and BoxcarFunded the DLL converts to 60% of peak end-of-day profit once the initial trail threshold clears; other purchased DLLs stay fixed.
Payouts
Payouts go out by ACH, including to Canada and internationally, or in crypto. The minimum request is $500 gross, which is $450 to the trader at the 90/10 split before any payment fees. Boxcar targets roughly two business days for processing. That target is the firm’s own and is not audited.
Eligibility is programme-specific and the buffers matter as much as the minimum:
- BoxcarPrime: from three funded days, with cycle goals of $250 / $500 / $750 / $1,000 and a 40% consistency ceiling. You must retain $26,100 / $52,100 / $103,100 / $154,600 after the payout. First-request caps are $1,000 / $2,000 / $2,500 / $3,000.
- BoxcarFlex: five qualifying days each earning at least $100 / $150 / $200 / $250, plus a net-positive cycle. The 50% cycle cap means you need about $1,000 of cycle profit to request $500.
- BoxcarPayout: eligible daily when net positive, retaining the same size-based buffers as Prime.
- BoxcarFunded: at least five trading days, a 20% consistency ceiling and first-cycle profit of $1,500 / $3,000 / $6,000 / $9,000. Later cycles need $1,250 / $2,500 / $3,500 / $4,500. Payouts one to three are capped.
Every request is subject to identity, residency, tax, sanctions, payment and fraud checks. Business payouts additionally need company formation and ownership evidence plus photo ID for every owner holding 25% or more.
No payout data is disclosed. August was before launch and September was a partial month, so there are no totals, no counts, no country rankings and no public payout log. Boxcar did not record unavailable figures as zero, which is the honest way to answer, but it leaves nothing to verify. This is the main reason the score here is not higher.
Plans, Pricing and Evaluation Specs
Fees are one-time in USD. Across every configuration the range is $78 to $836 before a code and $50 to $585 with ONTRACK. Evaluations sit at $78 to $429 before the code and $50 to $300 with it; BoxcarFunded direct accounts run $329 to $836 before and $230 to $585 with.
BoxcarPrime list pricing, confirmed on the official plan page:
| Size | List price | With ONTRACK | Profit target |
|---|---|---|---|
| $25K | $129 | $90 | $1,250 |
| $50K | $200 | $140 | $3,000 |
| $100K | $321 | $225 | $6,000 |
| $150K | $429 | $300 | $9,000 |
There is no activation fee when an evaluation converts to simulated funded. There is also no refund and no rebate, so treat the fee as spent at purchase. Resets are charged at the lower of your original discounted price or the current ONTRACK price, which is a fairer reset policy than most. Earned-funded and live accounts cannot be reset. The reset policy was updated on 1 October 2026 to include direct-funded accounts.
Contract Limits and Scaling
Futures firms use contract caps rather than an FX-style leverage ratio. Boxcar allows 2 / 4 / 6 / 10 minis or 20 / 40 / 60 / 100 micros across $25K / $50K / $100K / $150K, combined at 10:1. BoxcarFlex simulated funded is the restrictive one: it starts at just 1 / 2 / 3 / 4 minis and scales up with profit, so size your expectations accordingly on that programme.
Household caps apply too: up to 10 evaluations, up to 10 evaluation plus simulated funded accounts, a maximum of 5 simulated funded and a maximum of 5 live.
Commissions and Data Costs
Commissions are quoted per contract per side, so double them for a round trip. These are evaluation and simulated funded rates; live costs are set during onboarding.
| Rate per side | Contracts |
|---|---|
| $0.50 | MES, MNQ, M2K, MYM, MCL |
| $0.80 | MGC |
| $1.30 / $1.60 | QG / SIL |
| $1.75 | ES, NQ, RTY, NKD, YM |
| $2.00 | CL, QM, NG |
| $2.30 | PL, GC, SI, HG |
| $2.40 | 6A, 6B, 6C, 6E, 6J, 6S, 6N |
| $2.80 | HE, LE, ZS, ZC, ZL, ZM, ZW |
Add-ons are modest. A Chicago VPS with 16GB of RAM is free while an account is active. Level II data is $13 a month for CME or $39 a month for all four exchanges. A Rithmic trade copier is $15 a month and a Rithmic second login is $30 a month.
Tradable products are approved exchange-traded futures on CME, CBOT, NYMEX and COMEX: equity indices, currency futures, energy, metals, agriculture and livestock. Spot FX, CFDs and cryptocurrency products are not on the approved list.
Trading Rules
Boxcar is intraday only. Positions must be flat by 4:45 PM ET Monday to Friday, with the session reopening at 6 PM. There is no overnight and no weekend holding on any programme.
Genuine scalping is allowed and there is no universal minimum holding time. If more than 50% of your profit comes from trades held five seconds or less, that triggers a review rather than an automatic breach. EAs and bots are permitted, and so is copy trading across your own accounts. Prohibited behaviour is the usual list: high-frequency or latency exploitation, opposing positions in the same exact contract, offsetting across separate accounts or traders, and account sharing.
News rules are narrow. Only BoxcarPayout simulated funded is restricted, and there you must be flat from one minute before to one minute after a high-impact USD release. On that programme it is a hard breach, not a warning.
The inactivity rule is strict and deserves a flag: you need one completed trade with at least $1 of net profit or loss every 30 days, or the account is permanently removed. Not paused, removed.
Consistency Rules by Programme
Consistency is measured as your largest profitable day divided by total net profit, including commissions and losses. Exceeding the ceiling delays passing or payout eligibility; it is not by itself a hard breach and does not automatically strip profit.
- BoxcarPrime: no evaluation consistency rule, 40% ceiling once funded.
- BoxcarFlex and BoxcarPayout: 50% in the evaluation with a two-point cushion, so the effective ceiling is 52%. No funded consistency rule.
- BoxcarFunded: 20% per payout cycle.
On BoxcarPayout, single-day profits of $6,000 / $8,000 / $10,000 / $12,000 trigger a live review. The published rule does not state that excess profit is forfeited for reaching that threshold alone.
Simulated Or Live?
Evaluations and funded accounts are simulated. Payouts are paid from Boxcar’s own funds, not from market profits generated by your trades. After five approved payouts you are reviewed for live placement, and that review is discretionary. If being routed to a live account matters to you, treat it as a possibility rather than a milestone you can plan around.
Company Information
The operating entity is Boxcar Trading Group LLC, registered in New York State. The company number was not disclosed in the questionnaire. Our contact was John Martin, Head of Business Development, and support runs through support@boxcartrading.com. There is no regulatory registration and the terms say so plainly.
Who Boxcar Trading Actually Suits
This is a good fit if you already trade through Rithmic, you want an end-of-day drawdown rather than an intraday one, and a flat 90% split without upgrade tiers appeals more than a scaling plan. The free VPS and the cheap micro commissions make it workable for small-size traders, and the reset pricing is genuinely trader-friendly.
It is a poor fit if you need a verifiable payout record before you buy, if you want anything other than CME-group futures, or if you cannot commit to trading at least once a month. The BoxcarPayout intraday drawdown and the BoxcarFlex 1-mini funded start are both easy to miss and both change what the programme actually is.
Frequently Asked Questions
What is the profit split at Boxcar Trading?
90/10 in the trader’s favour on every programme and every account size. There is no paid upgrade and no performance tier that raises it, and the first payout uses the same split as every later one.
Does Boxcar Trading use a trailing drawdown?
Yes, but it trails end-of-day balances on BoxcarPrime, BoxcarFlex and BoxcarFunded, and it locks at starting balance plus $100. BoxcarPayout simulated funded is the exception: it is intraday and includes open profit.
What is the minimum payout at Boxcar Trading?
$500 gross, which is $450 to the trader at the 90/10 split before any payment fees. Programme-specific cycle goals, consistency ceilings and retained buffers apply on top of the minimum.
Which platforms does Boxcar Trading support?
All account types run on Rithmic. The supported front-ends are Rithmic Trader Pro, NinjaTrader, MotiveWave, Quantower, Sierra Chart, Jigsaw, Bookmap, ATAS, MultiCharts.
Can you hold trades overnight at Boxcar Trading?
No. All positions must be flat by 4:45 PM ET Monday to Friday, and there is no weekend holding on any programme. The session reopens at 6 PM ET.
Does Boxcar Trading offer refunds?
No. There is no refund and no rebate on the evaluation fee. Resets are charged at the lower of your original discounted price or the current ONTRACK price, and earned-funded and live accounts cannot be reset.
Is Boxcar Trading regulated?
No. Boxcar Trading Group LLC is a New York State LLC and the terms state that it is not a broker, FCM, CTA, investment adviser or fiduciary. Evaluation and simulated funded accounts trade virtual funds.
Official resources and pricing
Links we checked while writing this review:
Prices and rules change often, and they change faster at a firm this new. Check these pages before buying.
There are no reviews yet.