PineX Capital Review
PineX Capital, a brand that says it was founded in 2024 and is run by a Dubai and a Saint Lucia company, sells simulated forex and CFD accounts with performance-based rewards: two challenges, a pay-after-passing challenge and two instant models.
- 1-Step· 9% target
- 2-Step· 8% then 5%
- Instant PineX· no evaluation
- Instant Elite· no evaluation
- Pay Later· 4% target, fee after passing
Some official terms conflict. PineX's own documents (Terms, help centre, AML policy and sales pages) disagree on at least 13 material points, including the payout cycle (“every 14 days” on several sales pages, 21 exchange days in the help centre and Terms) and which countries are barred (Vietnam and Lebanon appear only in the Terms); further differences are noted inline. See both versions
- List price from
- €79
- Models on sale
- 5
- Document conflicts
- 13+ open
- Research checked
- 16 Oct 2026
Affiliate link · may earn commission
- Account models
- 5 on sale
- 1-Step, 2-Step, Instant PineX, Instant Elite, Pay Later; Direct Funding expiring
- List price from
- €79
- 1-Step $5K, one-time; Pay Later starts at €5 plus a fee after passing
- Reward rate
- 80%
- Default on all five; 100% via a paid add-on, except Instant Elite
- Processing target
- 72 business hours
- “Usually”, per the help centre; sales pages claim 14 hours to 2 business days
- Max starting size
- $300K
- Instant PineX; $200K on 1-Step, 2-Step and Pay Later; the scaling ceiling is separate and disputed ($400K to $2M across PineX's own pages)
- Platforms
- TradeLocker, MT5
- Chosen at checkout; MT5 is closed to US persons
Editorial assessment & evidence status
No numerical scoreBasis
- 13 core documents and 27 supporting pages read
- 31 list prices checked in the selector
- 13 key conflicts open; more noted inline
- No purchase, payout or support test
16 Oct 2026, 02:19–02:20 UTC. Methodology
Pricing transparency
Public, with gapsAll 31 list prices are public in the selector, but add-on prices are not, the codes are untested, and the help centre lists Pay Later sizes the selector does not sell.S1S9S25
Rule clarity
Detailed but conflictingEach model has its own help-centre article with dollar examples, but the Terms, help centre and sales pages disagree on the payout cycle, the daily reset, weekends and the Instant PineX 2% rule.S3S5S2S34
Review platforms were not checked; that does not mean PineX has no reviews. The badges and testimonials on its homepage are its own selection.
How funding works at PineX Capital
Instant models skip the evaluation, not the payout conditions.
- Step 1
Choose a model
5 modelsCheck all four restricted-country lists first. - Step 2
Buy and get access
From €79One-time fee; Pay Later €5, the rest after passing. - Step 3
Pass the evaluation
9%, 8% + 5% or 4%1-Step, 2-Step or Pay Later; instant models skip this. - Step 4
Qualify and verify
3 to 6 daysMinimum trading days, then a rule review and KYC. - Step 5
Request a reward
$100 minimumEvery 21 exchange days; first two capped at 10%.
Our verdict on PineX Capital
What PineX publishes. List prices run from €79 (1-Step, $5K) to €2,199 (Instant Elite, $150K), and each model has its own help-centre article with worked dollar examples. The 1-Step and 2-Step keep static floors from evaluation to funded, and the Pay Later defers most of the fee until you pass.S1S3S4S7
What is unresolved. Sales pages promise 14-day payouts, processing in under a day and a “Rewards Guarantee”; the rulebook says 21 exchange days, up to 72 business hours and no entitlement to any reward. Four country lists disagree, and the contract that outranks every other document for funded accounts is not published.S33S32S1S2S8
What is unverified. PineX says it was founded in 2024. Its claims of 30,000+ traders (10,000+ on the scaling page), $203,847 paid out in September, $780,652 paid out in total and 14-hour payouts are its own. The Dubai company says it is not regulated and pays rewards from its own cash flow and reserves.S37S1S36S32S2S13
How we review & sourcing: built from PineX's General Terms, AML/KYC policy, legal notice and help-centre articles as published on 16 Oct 2026, plus its sales pages. We did not buy an account, request a payout or contact support. Sources and method
Bottom line · Clear per-model rulebooks and static challenge floors, but the sales pages promise faster and freer payouts than the rulebook allows, and the contract that governs funded accounts is unpublished. If you buy, plan around 21 exchange days, the first-two-payout caps and the Terms' country list, and treat the fee as money you can afford to lose.
Pros
- List prices from €79, all public in the selector
- Static floors on the 1-Step (6%) and 2-Step (10%), evaluation to funded
- No consistency rule on the 1-Step, 2-Step or Instant Elite
- Pay Later defers most of the fee until you pass
- TradeLocker or MT5; bank or crypto payouts through Rise
Cons
- Official pages conflict on at least 13 points
- First two payouts capped at 10% of the account, max $10,000
- 21-exchange-day cycle; the 14-day add-on starts at payout two
- No entitlement to rewards; funded-account contract unpublished
- No EAs; news trading and weekend holding barred on most accounts
Who PineX Capital may suit
May suit
- Evaluation traders who want a static floor (1-Step 6%, 2-Step 10%)
- Traders who would rather pay most of the fee after passing (Pay Later)
- Manual forex and CFD traders on TradeLocker or MT5
- Swing traders who need weekend holding (Instant PineX only)
Use caution if you
- Trade red-folder news, run EAs or copy another trader
- Need a large or early first withdrawal
- Live in Vietnam, Lebanon, Ukraine or Belarus, or want MT5 as a US person
- Want to read the funded-account contract before buying
Availability & country restrictions
PineX publishes four lists: the Terms (clause 1.4), the help centre, the AML policy, which adds Belarus and the occupied regions of Ukraine “at a minimum”, and the site footer. The Terms rank above the help centre and are the only list naming Vietnam and Lebanon. Customers from India, Pakistan and African countries are capped at $50,000, and MT5 is closed to US citizens, residents and dual nationals.S2S11S12
On both lists
- Cuba
- Iran
- Libya
- North Korea
- Russia
- Somalia
- Sudan
- Syria
Terms only
- Lebanon
- Vietnam
Help centre only
- Afghanistan
- Central African Republic
- Congo (Brazzaville)
- Guinea
- Haiti
- Iraq
- Mali
- Myanmar (Burma)
- South Sudan
- Ukraine
- Venezuela
- Yemen
Absence from every list does not confirm acceptance: the Terms add “any other regions published on our Website”, and the AML list is not exhaustive.
Account sizes, fees and discounts
PineX charges a one-time fee, shown in euros, for accounts sized in US dollars, payable by card, Klarna or crypto. The Pay Later instead costs €5 to start (nothing when it comes as a gift with another purchase) plus an activation fee after you pass. These are the 31 list prices in its official selector on 16 Oct 2026; the cheapest is €79 for a $5K 1-Step.S1S31S26S30
List prices by model (EUR)
| Size | 1-Step | 2-Step | Instant PineX | Instant Elite | Pay Later |
|---|---|---|---|---|---|
| $5K | €79 (lowest list price) | Not offered | €96 | €189 | Help centre onlyC13 |
| $10K | €119 | €98 | €139 | €299 | €5 + €102 |
| $15K | Not offered | Not offered | Not offered | €429C13 | Help centre onlyC13 |
| $25K | €229 | €198 | €274 | €579 | €5 + €207 |
| $50K | €349 | €298 | €412 | €889 | €5 + €320 |
| $100K | €599 | €548 | €694 | €1,459 | €5 + €518 |
| $150K | Not offered | €738 | Not offered | €2,199 | Help centre onlyC13 |
| $200K | €1,099 | €978 | €1,445 | Not offered | €5 + €941 |
| $300K | Not offered | Not offered | €1,932 | Not offered | Help centre onlyC13 |
Checked 16 Oct 2026, 02:19–02:20 UTC. Pay Later cells show the €5 entry plus the activation fee due after passing. “Help centre only” sizes appear in the help centre's lists but not on the Pay Later page, which also leaves out $20K (€195) and $35K (€288; also in the selector's data, but not offered as a size); the help centre's size list omits Instant Elite $15K (see C13).
Promotions and add-ons
| Item | Price or end | Status |
|---|---|---|
| Black Month55% off all challenges | No end date published | Code needed; unverifiedS1 |
| New-customer discounts50% off a first account (sales pages); 60% in a sign-up pop-up | No end date or pop-up terms published | Code needed; unverifiedS33S39S1 |
| Codes on the firm's blog55% off a first account, or 50% off all accounts; codes do not stack | Table “last checked” September 2026 | Code needed; unverifiedS40 |
| Free Pay Later ChallengeWith every challenge purchase | Expires 15 days after issue if unused | UnverifiedS7S1 |
| Failed-challenge discountPersonalised, for the same or a larger size | No terms published | UnverifiedS40 |
| 100% Reward Rate80% to 100%; not offered on Instant Elite | Not published | Checkout add-onS9S6 |
| 14-day payout schedule21 to 14 days, from the second payout onlyC1 | Not published | Checkout add-onS9S2 |
| News and weekend tradingIn the overview, but only the expiring Direct Funding offers it | Not published | Checkout add-onS9S29S3 |
| Pay Later entryNew customers only; free as a purchase gift; the Terms say no fee is due at order | €5 | Charged at orderS31S35S2 |
| Pay Later activation feeDue after passing, before the funded account; non-refundable | €102–€941 | Charged after passingS31S26S2 |
| Trading commissionFunded accounts; none during evaluation | $3 per lot | Per tradeS39 |
| Rise payout feeCharged by Rise on each payout | Not published | Per payoutS22 |
The selector shows each list price struck through beside one 55% lower, but we opened no checkout, so no discounted price is verified and no code is shown here. The Terms say discounts do not combine and promotions can end without notice. We hold no PineX code.
Key trading rules by model
Loss limits count open and closed positions on the higher of balance or equity, and breaching one is a hard breach that closes the account for good. Only the Pay Later evaluation has a time limit (C8). The rules page calls itself a simplified overview; the help centre is binding, below the Terms and the unpublished Pinex Trader Program Terms.S15S3S2S39
Rules by model and stage
| Rule | 1-Step | 2-Step | Instant PineX | Instant Elite | Pay Later | Sources |
|---|---|---|---|---|---|---|
| Profit targetevaluation | 9%, one phase | 8%, then 5% | None: no evaluation | None: no evaluation | 4%, one phase | S3S4S5S6S7 |
| Minimum trading daysevaluation | 3 | None in either phase | Not applicable | Not applicable | 1 (overview and how-it-works text) or none (trading-days section) | S3S4S5S6S7 |
| Time limitevaluation | None | None | Not applicable | Not applicable | 15 days (help centre) or none (sales page)C8 | S33S39S5S6S7S31 |
| Daily loss limitall stages | 3%, static | 4%, static | 3%, trailing the day's high | 3%, trailing the day's high | None in evaluation; 3% static funded | S3S4S5S6S7 |
| Maximum lossall stages | 6% of the starting balance, static | 10% of the starting balance, static | 8%, trailing | 6%, trailing | 8% trailing (evaluation); 6% trailing (funded) | S3S4S5S6S7 |
| How the maximum floor movesall stages | Never moves: $94,000 on $100K | Never moves: $90,000 on $100K | Rises with new highs; reset after each payout | Rises with intraday equity highs; reset after each payout | Rises with end-of-day highs and locks at the starting balance; reset to 6% below it after a payout | S3S4S5S6S7 |
| Per-trade or floating-loss capfunded | None set | None set | 2% per trade idea (help centre) or 2% floating loss (sales page)C5 | 1% floating loss on all positions; closes the account | None set | S3S4S5S34S6S7 |
| Consistency rulefunded | None | None | No day at 20% or more of period profit | None | Best day no more than 20% of period profit (funded only) | S3S4S5S6S7 |
| Red-folder news (±5 minutes)all stages | Not allowed; a breach closes the account | Not allowed; a breach closes the account | Not allowed; a breach closes the account | Not allowed; a breach closes the account | Allowed in evaluation; not allowed funded | S3S17S4S5S6S7 |
| Weekend holdingall stages | Not allowed; no add-on | Not allowed; no add-on | Allowed | Not allowed (Elite article) or allowed (weekend article)C6 | Allowed in evaluation (Pay Later article); not allowed fundedC6 | S3S14S4S5S6S7 |
Documented, not on sale: Direct Funding, marked as expiring and without a tab in the selector: 4% daily, a 10% trailing floor that locks at −5% once the account is 5% up (the selector code says 8%), 2% per trade idea and 7 minimum days.S1S29S2
Smaller differences: the Pay Later article gives its evaluation both one minimum trading day and none, and the Terms ban only pass-the-evaluation EAs during evaluation while the help centre bans every EA in every phase. Assume the stricter reading.S7S2S18
How the loss limits are measured
Static daily limits are recalculated at 00:00 UTC from the higher of balance or equity (the rules page says 00:00 CET; C7). On $100K the 1-Step floor stays at $94,000 and the 2-Step at $90,000. Trailing limits follow new highs intraday: an Instant PineX $10,000 account that reaches $10,500 has a daily floor of $10,185 and an overall floor of $9,660. The Pay Later floor trails end-of-day highs and locks at the starting balance.S15S3S4S5S7S39
Funded-only limits
Instant PineX blocks a payout while one day makes 20% or more of the period's profit (funded Pay Later: more than 20%); per the PineX article, a $2,000 best day needs at least $10,000 of total profit. That is not a breach. Instant Elite closes the account permanently once combined floating loss reaches −1% ($500 on $50K). PineX may also impose a 1% risk cap per trade idea on any funded account; ignoring it after notice ends the account without rewards.S5S7S6S19
Strategy limits on every account
At most two open positions per trade idea (a third is a hard breach), margin below 80%, and no more than ten times the starting balance in notional exposure within 24 hours when most trades lack a stop-loss. More than half of trades held under a minute counts as gambling, positions opened within two hours of a market close or open may count as gap trading, and you may not switch strategy after passing. Hedging is banned within an account, across your accounts and between traders.S10S2
News, weekends, EAs and copy trading
No opening or closing on an affected instrument, stop-loss and take-profit fills included, from five minutes before to five minutes after red-folder news on ForexFactory, and no trading at all through an all-day event. The weekend window runs from Friday 22:00 to Sunday 22:00 UTC. EAs and bots are banned, PineX may ask for source code, and a trade copier is allowed only between your own accounts.S17S14S18S2
Inactivity and account access
An account with no trade opened and closed for 30 days is breached, counted from the credentials email (C10), with a warning five days before. The Terms also let PineX end an account held at 80% or more of its maximum loss for over 30 days. Only the holder may trade: pass services and account managers mean closure and a permanent ban, and VPN or VPS access is “strongly discouraged”.S20S2S21
What happens when a rule is broken
| Trigger | Applies to | Consequence |
|---|---|---|
| Equity breaches a daily or maximum loss limit | All models and stages | terminationHard breach: immediate closure; closed accounts cannot be reactivatedS3S5S2 |
| Opening or closing a trade, stop-loss and take-profit fills included, within 5 minutes of red-folder news | All accounts except the Pay Later evaluation | terminationRule breach; the program articles say the account is closedS3S17S7 |
| A position open between Friday 22:00 and Sunday 22:00 UTC | All accounts except Instant PineX (Elite and the Pay Later evaluation conflict) | terminationRule violation that can close the accountS14S3 |
| Three positions in one trade idea, margin at 80%, or 10x notional with most trades lacking a stop | All models and stages | terminationHard breach: immediate closureS10S2 |
| Combined floating loss reaches −1% | Instant Elite | terminationAccount permanently closedS6 |
| Best day at 20% or more of the period's profit (Pay Later: above 20%) | Instant PineX; funded Pay Later | payout delayNot a breach; no payout until more profit dilutes itS5S7 |
| Profit above the cap on the first two payouts | Funded, first two payouts | payout delayExcess stays in the account for the next requestS8 |
| Ignoring a risk restriction, such as 1% per trade idea, after notice | Funded | payout cancelledterminationImmediate suspension; no rewards or further claimsS19 |
| Hedging, copying another trader, EAs, gap trading or another forbidden practice | All accounts | profit excludedpayout cancelledterminationTrades removed, rewards confiscated, fee lost, account closed, possible exclusionS2S10 |
| Account sharing, pass services or trading by a third party | All accounts | terminationImmediate closure and permanent exclusionS21 |
| 30 days without a trade opened and closed | All accounts | terminationBreach (help centre) or termination at PineX's option (Terms)S20S2 |
| An unlawful chargeback or payment dispute | All accounts | terminationServices ended and a permanent banS2 |
Payouts and profit sharing
Every request starts a rule review and then KYC, and trading pauses until both are done. No reward is paid without electronic acceptance of the unpublished Pinex Trader Program Terms.S3S8S2
Payout terms by model
| Term | 1-Step | 2-Step | Instant PineX | Instant Elite | Pay Later | Sources |
|---|---|---|---|---|---|---|
| Minimum trading days before a payoutfunded | 4, each with at least 0.5% profit | 4 (no profit threshold stated) | 5, each with at least 0.5% profit | 6, each with at least 0.5% profit | 3, each with at least 0.5% profit | S3S4S16S5S6S7 |
| Payout cyclefunded | 21 exchange days; 14 with add-on from the 2nd payoutC1 | 21 exchange days; 14 with add-on from the 2nd payoutC1 | 21 exchange days; 14 with add-on from the 2nd payoutC1 | 21 exchange days; 14 with add-on from the 2nd payoutC1 | After 21 exchange days; no 14-day add-on listedC1 | S3S2S9S4S5S6S7 |
| Default reward ratefunded | 80%C3 | 80%C3 | 80%C3 | 80%C3 | 80%C3 | S3S2S4S5S6S7 |
| With paid add-onfunded | 100% | 100% | 100% | Not offered | 100% | S3S9S4S5S6S34S7 |
| First two payoutsfunded | Each capped at 10% of the account, max $10,000 | Each capped at 10% of the account, max $10,000 | Each capped at 10% of the account, max $10,000 | Each capped at 10% of the account, max $10,000 | Each capped at 10% of the account, max $10,000 | S8 |
| Minimum requestfunded | $100 | $100 | $100 | $100 | $100 | S8S22 |
Methods: Rise only, by bank transfer or crypto (USDT, BTC and ETH on the payouts page), chosen during KYC; $100 minimum; Rise charges its own fee.S22S32S3
The 72-hour target and what it leaves out
The help centre says requests are “usually processed within up to 72 business hours”, and a compliance review can suspend a payout at any time. Rise then sends the money, in 1–2 business days per the payouts page. The faster figures on the sales pages, from 14 hours to two business days, are the firm's own (C2), and no document makes any of them a deadline. Taking a payout also obliges you to give an interview on request, which PineX may publish.S8S2S32
The first-two-payout cap, in dollars
Each of the first two payouts is capped at 10% of the account size and at $10,000; anything above stays in the account for the next request. On a $50K account the cap is $5,000, so with $8,000 of eligible profit the first request is limited to $5,000 and $3,000 carries over. From $100K up the cap is $10,000, so a $300K account's 10% ($30,000) is cut to $10,000. The article does not say whether the cap applies before or after the reward rate.S8
Gross profit and your reward
The help centre's example: $5,000 of simulated profit (the “Performance Differential”) “can result in” up to $4,000 at the default 80%, or $5,000 with the add-on, before Rise's fee. The Terms, however, call the reward a payment for your trading data whose amount reflects that data's value, not a share of profit (C3), and the Pinex Trader Program Terms that set it are shown only once you are funded.S4S9S2S22
Official information that needs clarification
PineX's documents are layered: the unpublished Pinex Trader Program Terms prevail for funded accounts, then the General Terms (effective 27 Apr 2026), then the help centre, while the rules page calls itself non-binding. None of these 13 key points was resolved on 16 Oct 2026, and smaller differences are noted inline; ask support in writing which version applies to you.S2S39
Where PineX's documents disagree
| Issue | Source A | Source B | Practical implication |
|---|---|---|---|
| C1Payout cycle | Terms, program articlesS2S3S5Every 21 exchange days (market days; no trading needed); the 14-day add-on starts at the second payout | Add-ons overviewS921 “trading days”, counting only days you open and close a trade; 14 with the add-on1-Step pageS33“Payouts every 14 days, standard on every 1-Step PineX Trader account”Homepage, Payouts and Instant pagesS1S32S34“Withdrawals every 14 days”; “Bi-weekly payouts” | 21 exchange days is about a month; counted as days you trade, three a week stretches it to seven weeks. Fourteen days needs the paid add-on and still leaves the first payout on the 21-day cycle. |
| C2Payout processing time | Help centreS8“Usually processed within up to 72 business hours” | Payouts pageS32“24 Hours” on average, “<24h”, “Processing Time <48h”; bank or crypto in 1–2 business daysHomepage, Pay Later pageS1S3114 hours, called the average on one page and the median on the other1-Step and Instant pagesS33S34“Rewards Guarantee”: processed within 2 business days of verification | None is a contractual deadline. Plan for up to 72 business hours after the rule review and KYC, plus Rise's transfer time; the payouts page's own figures (250 payouts, a 14-hour median, “19 Payouts processed within 48 hours”) do not reconcile. |
| C3How the reward amount is set | Program articles, add-ons overviewS4S9An 80% Reward Rate (100% with the add-on): $5,000 of profit “can result in” up to $4,000 | TermsS2A payment for your trading data, sized by that data's “value”; performance is not “in itself” the basis, and there is no entitlement to any amount | On $5,000 of simulated profit the help centre points to up to $4,000; the Terms leave the amount to PineX's valuation under the unpublished Pinex Trader Program Terms. |
| C4Restricted jurisdictions | Terms, clause 1.4S210 countries, including Lebanon and Vietnam | Help centreS1120 countries, including Ukraine, Venezuela and Iraq, but not Lebanon or VietnamAML policyS12Adds Belarus and the occupied regions of Ukraine, “at a minimum”Site footerS2North Korea, Iran, South Sudan, Sudan, Yemen and sanctions-listed persons | Vietnamese and Lebanese residents are barred by the Terms, which outrank the help centre. Belarus appears only in the AML policy, and Ukraine as a whole only in the help centre. |
| C5Instant PineX 2% limit | Instant PineX articleS5Maximum loss per trade idea: 2% of the starting balance | Instant Funding page, TermsS34S2“Floating Loss Limit 2%”, which the Terms define as the combined open loss on all positions | On $100K, two unrelated trades each $1,500 down pass the per-idea reading ($2,000 each) but breach a $2,000 combined floating limit. |
| C6Weekend holding exceptions | Weekend articleS14Banned on every account type, evaluations included, except Instant Funding (and Direct Funding with an add-on) | Instant Elite articleS6Holding or trading over the weekend “is not permitted”Pay Later articleS7Weekend holding “fully permitted” during the evaluation | Only Instant PineX is cleared by every document. An Elite account or a Pay Later evaluation held over a weekend breaches one of them, so close positions by Friday 22:00 UTC. |
| C7Daily reset time | Terms, loss-limit and Pay Later articlesS2S15S700:00 UTC | Rules page, Direct Funding articleS39S2900:00 CETTrading-day articleS16A trading day is a CET calendar day; the Terms define it in UTC | Midnight CET is 22:00 or 23:00 UTC, so a loss or trade in that window can count toward a different day's limit or trading day. |
| C8Pay Later time limit | Pay Later article; the Terms allow oneS7S215 days for the evaluation | Pay Later pageS31“No Time Limit” | Treat it as 15 days: the Terms let a published Pay Later time limit end the program with no replacement or refund. |
| C9When KYC happens | AML policyS12At onboarding, before any paid service or payment | Program articlesS3S4S7After a payout request and the rule reviewTermsS2Before an instant account is issued | If checks come only at the first payout, a trader who fails them may already have paid, passed and traded for weeks. |
| C10Unused accounts: the 30-day clock | Help centre, rules pageS20S3930 days without a closed trade is a breach, counted from the credentials email | Terms, clauses 5.8(c) and 13.2(c)S2A phase not activated (no first trade) within 30 days may be suspended, and reactivated on request within six months; clause 13.2(c) separately lets PineX end an account with no closed trade in 30 days | Buy and wait a month: the help centre treats the account as breached, while clause 5.8(c) only suspends an unstarted phase. Trade within 30 days to stay clear of both. |
| C11Who provides MT5 accounts | Site footer, MT5 pageS2S35PineX Capital Ltd (Saint Lucia) operates MT5, offered on every program | Terms, Legal NoticeS2S13The provider is Pinex Software Solutions L.L.C-FZ (Dubai) aloneHelp centre platform articleS27“The trading platform TradeLocker is used”; MT5 is not mentioned | An MT5 buyer accepts Terms naming only the Dubai company while a Saint Lucia company runs the account, so which entity owes a reward is unclear. |
| C12Scaling ceiling | HomepageS1“Scaling up to $400,000*”, for selected accounts | Scaling article, scaling pageS23S36Up to $2M through +30% steps every three monthsPremium tiers articleS24Caps of $1.2M at Prime and $2M only at EliteContact pageS38$2M “via Scaling Plan, Direct Funding only” | A $300K account might stop at $400,000, at $1.2M without Elite status, or not qualify if $2M is Direct Funding only; no document gives an entitlement. |
| C13Sizes on sale | Selector, Pay Later pageS1S31Instant Elite $5K–$150K including $15K; Pay Later $10K, $25K, $50K, $100K and $200K | Help centre size listS25Instant Elite without $15K; Pay Later in ten sizes from $5K to $300KHelp centre cost tableS26Pay Later in 11 sizes, adding $15K, with fees from €68 to €1,330 | A $15K Elite (€429) is sold but undocumented, and six Pay Later sizes appear only in the help centre. Buy only what the selector offers and confirm the rules for that size. |
Marketing claims the documents qualify
- “Rewards Guarantee” carries an asterisk for unnamed “selected” accounts, and the Terms say there is no legal entitlement to any reward, which rule breaches can cancel.S1S2S10
- “Trade up to $2M” is a scaling ceiling, not a starting size: the largest account sold is $300K, purchased capital is capped at $600,000, and scaling carries no entitlement.S1S2S23
- “Reward split up to 100%” needs a paid add-on (not offered on Instant Elite) or the Advanced tier; the default is 80%.S1S9S6S24
- “Trade our capital” and “Withdraw real profits” describe simulated accounts with fictitious capital; the Terms call the reward a payment for trading data, not a share of profit.S1S32S2
- “No hidden deductions” and “0$ commissions” sit beside a Rise payout fee, the first-two-payout caps and a $3-per-lot commission on funded accounts; the commission exemption names no account.S32S1S22S8S39
- “No rule changes” is what the Instant Funding page says; the Terms let PineX update program parameters with seven days' notice and change its services at any time.S34S39S2
- “No consistency rule” and “No time limit” hold for the 1-Step, 2-Step and Instant Elite; Instant PineX and funded Pay Later accounts have a 20% rule, and the help centre gives the Pay Later evaluation 15 days.S1S5S7
Refunds, resets, rewards and scaling
Separate programs with separate terms. Apart from the consumer withdrawal right, PineX promises no cash refund; resets and re-entry discounts are discretionary, and the Terms give no entitlement to scaling or a tier.S2
Programs and their terms
| Program | What the documents say | Paid as | Status |
|---|---|---|---|
| Withdrawal right (consumers) | Where consumer law grants one: 14 days from purchase, and only until your first simulated trade; refunded within 14 days to the original methodS2 | Cash | Published |
| Refund after use | None “under any circumstances”; the Terms mention a fee refund after set payouts, but no program offers oneS2 | None | Published |
| Refund after an “excessively risky” closure | The help centre says a refund “may be issued”; the Terms give no right to oneS10S2 | Discretionary | Published |
| Free Pay Later Challenge | A gift with every challenge purchase; expires 15 days after issue if unused; no entitlement under the TermsS7S2 | Free evaluation | Published |
| Resets | No reset product; any reset, replacement account or credit is goodwill and sets no precedentS2 | Discretionary | Published |
| Re-entry discount | A personalised discount after a failed challenge, for the same or a larger sizeS40 | Discount | Published |
| PineX Points | One point per euro spent, redeemable for accounts, add-ons and discounts; no redemption rate publishedS37 | Credit | Published |
| Scaling | +30% of the account every three months at 18% profit, with payouts counted, up to $2MS23S24S1 | Capital | ConflictingC12 |
| Premium tiers | Advanced (3 payouts, $15K paid): 7-day payouts, weekend holding, 100% rate. Prime ($30K): €1,200 a month. Elite ($60K): €3,200 a monthS24S2 | Benefits, monthly payment | Published |
Account progression
Starting size, combined cap and scaling ceiling are three different numbers.
Starting account
$5K to $300K (Instant PineX); $200K on the 1-Step, 2-Step and Pay Later and $150K on Instant Elite. Customers from India, Pakistan and African countries are capped at $50,000.S1S31S11
Combined cap
Up to $600,000 of purchased capital across your and affiliated accounts; scaled capital is outside this cap.S2
Markets, platforms, KYC and support
What you can trade
Forex majors, crosses and exotics, and CFDs on standard and mini indices, precious and industrial metals, agricultural and energy commodities, US and EU stocks, and cryptocurrencies against the dollar. The exact symbol list and spreads are sent only on request by email. Funded accounts pay $3 per lot in commission (none during evaluation) and no swaps. Leverage differs by model and stage, and the help centre publishes it per program.S28S39
Leverage by model and stage (help centre)
| Instrument | 1-Step eval. | 1-Step funded | 2-Step, Pay Later eval. | 2-Step, Pay Later funded | Instant PineX | Instant Elite |
|---|---|---|---|---|---|---|
| Forex | 1:100 | 1:30 | 1:100 | 1:50 | 1:30 | 1:50 |
| Metals | 1:20 | 1:10 | 1:20 | 1:20 | 1:10 | 1:10 |
| Indices | 1:20 | 1:10 | 1:20 | 1:10 | 1:10 | 1:10 |
| Crypto | 1:2 | 1:2 | 1:2 | 1:1 | 1:2 | 1:2 |
| Energies | 1:20 | 1:10 | 1:30 | 1:30 | 1:10 | 1:10 |
| US stocks | 1:20 | 1:10 | 1:5 | 1:5 | 1:30 | 1:30 |
| EU stocks | 1:30 | 1:30 | 1:30 | 1:30 | 1:30 | 1:30 |
From each program article. The non-binding rules page gives one table for “all evaluation accounts” (energies 1:30, US stocks 1:5) that matches the 2-Step, not the 1-Step.S3S4S7S5S6S39
Simulated accounts and company
Every account, funded ones included, is simulated with fictitious capital and no trade reaches a market; the sales pages' “Trade our capital” does not change that. Rewards are paid from PineX's operating cash flow and reserves, which it says it keeps independently of new fees; fees are not held in trust or segregated. Your real-money exposure is the fee, plus any activation fee.S2S1
- Contracting party
- Pinex Software Solutions L.L.C-FZ, Dubai (licence 2643553.01); runs TradeLockerS2S13S12
- MT5 operator
- PineX Capital Ltd, Saint Lucia IBC (no. 2026-00566), not named as a party in the TermsS2
- Founded
- 2024, per the companyS37
- Regulation
- The Dubai company says it is not regulated by the SCA, the CBUAE or any similar authority, so its licence number is not a financial authorisation; nothing is published on the Saint Lucia company's statusS2S13
- Payments
- Odeonpay ALE S.R.L. (“Paysagi”) as merchant of recordS2
- Liability cap
- The fee you paidS2
- Funded contract
- Not publishedS2
Platforms
TradeLockerDocumented
Named in the help centre and the Terms' footer; run by the Dubai company; browser, desktop and mobile.S27S2
Offered at checkout on every program per the MT5 page, but absent from the help centre's platform article; run by the Saint Lucia company; closed to US citizens, residents and dual nationals.S35S27S2
KYC and payout ownership
- A Veriff check of a government photo ID plus a liveness selfie, under the AML policyS12
- Checks come before any paid service (AML policy) or after the first payout request (program articles)S12S3
- The account holder, registration details and email cannot be changed; shared payment methods or devices must be disclosedS21S2
- 18 or older, not on a sanctions list and without a financial-crime recordS2
Support
Channels: email (support@pinexcapital.com), live chat and Discord. The contact page claims “24/5” availability and native German support, and WhatsApp priority support starts at the Advanced tier. The Terms say PineX will try to resolve complaints within 30 days. We did not test any of them.S38S1S24S2
PineX Capital FAQ
What is PineX Capital?
A forex and CFD prop brand of Pinex Software Solutions L.L.C-FZ in Dubai, which runs the TradeLocker accounts, and PineX Capital Ltd in Saint Lucia, which runs MT5. It says it was founded in 2024 and sells five account models.S2S37
Are PineX Capital accounts simulated?
Yes. The Terms say every account, funded ones included, is simulated with fictitious capital. Your real-money exposure is the fee, and any reward is a payment for your trading data, not a share of real profit.S2
Which account models can I buy?
1-Step and 2-Step challenges, two Instant Funding models (PineX and Elite) and a Pay Later challenge, from $5K to $300K (Instant PineX). Direct Funding is still documented but marked as expiring and is not on sale.S1S31S29
How do Instant PineX and Instant Elite differ?
PineX: 3% daily and 8% maximum, both trailing, a 2% loss limit per trade idea (a floating-loss limit on the sales page), a 20% consistency rule, 5 qualifying days and weekend holding. Elite: 3% and 6% trailing, a 1% floating-loss limit, no consistency rule, 6 qualifying days, 80% only and, per its own article, no weekend holding.S5S6
How much does PineX Capital cost?
One-time list prices run from €79 (1-Step, $5K) to €2,199 (Instant Elite, $150K). Pay Later costs €5 to start, or nothing as a gift with another purchase, plus €102 to €941 after passing. The 55%-off and other codes were not verified at checkout.S1S31
How do drawdown and consistency work?
The 1-Step and 2-Step floors are static. The instant floors trail new highs and reset after each payout; the Pay Later floor trails end-of-day highs and locks at the starting balance. Only Instant PineX and funded Pay Later accounts have a 20% consistency rule, which delays payouts rather than closing the account.S3S4S5S6S7
When can I request a payout?
After the model's minimum trading days (3 to 6) and a 21-exchange-day cycle (the add-ons page counts only days you trade), which a paid add-on shortens to 14 days only from the second payout. The first two payouts are each capped at 10% of the account and $10,000, the minimum is $100, and the help centre says requests are usually processed within 72 business hours.S3S2S8
Is the fee refundable?
As of right, only through the consumer withdrawal right, where consumer law grants one: within 14 days and before your first simulated trade. Otherwise the Terms rule out refunds, and the Pay Later activation fee is non-refundable once paid. The help centre says a refund “may be issued” when PineX closes an account as excessively risky, but that is at its discretion.S2S10
Which trading platforms does it use?
TradeLocker and MetaTrader 5, chosen at checkout. MT5 is run by the Saint Lucia company and is closed to US citizens, residents and dual nationals; the help centre's platform article still names only TradeLocker.S35S27S2
Which countries are restricted?
PineX publishes four lists. The Terms bar ten countries including Vietnam and Lebanon, the help centre bars 20 including Ukraine and Venezuela, and the AML policy adds Belarus. India, Pakistan and African countries are capped at $50,000. Being on no list does not confirm acceptance.S2S11S12
Who runs PineX Capital, and what is unverified?
The two companies above. The Dubai company, the only party to the Terms, says it is not regulated as a financial firm; nothing is published on the Saint Lucia company's regulatory status. Trader counts (30,000+ or 10,000+), payout totals, processing times and the “Rewards Guarantee” are the firm's own claims. We did not buy an account, request a payout or contact support.S2S13S1S36
Considering PineX Capital?
List prices from €79. Confirm the payout cycle, the country lists and the Trader Program Terms for your model in writing before you buy.
Forex and CFD alternatives to consider
Reviewed firms that also offer TradeLocker and MetaTrader 5, plus another new forex and CFD firm on our board.
Sources, methodology and disclosure
Official documents, checked 16 Oct 2026
- S1Homepage and account selectorpinexcapital.com/en · checked 02:19 UTCSelector price data (list and 55%-off prices) and promotion banners. Where our referral link lands; fetched without the referral code.
- S2General Terms and Conditionspinexcapital.com/en/terms-and-conditions · checked 02:19 UTCEffective 27 Apr 2026; read in full, with the site footer.
- S3Help Center: 1-Step Challengehelp.pinexcapital.com/en/articles/15945735-1-step-challenge · checked 02:20 UTCDated 28 Aug 2026.
- S4Help Center: 2-Step Challengehelp.pinexcapital.com/en/articles/15895986-2-step-challenge · checked 02:20 UTCDated 24 Aug 2026.
- S5Help Center: Instant Funding PineXhelp.pinexcapital.com/en/articles/15948051-instant-funding-pinex · checked 02:20 UTCDated 24 Aug 2026.
- S6Help Center: Instant Funding Elitehelp.pinexcapital.com/en/articles/16236504-instant-funding-elite · checked 02:20 UTCDated 26 Aug 2026.
- S7Help Center: Pay Later Challengehelp.pinexcapital.com/en/articles/15896679-pay-later-challenge · checked 02:20 UTCDated 24 Aug 2026; gift terms “as of 14.04.2026”.
- S8Help Center: How are payout requests processed?help.pinexcapital.com/en/articles/13597885-how-are-payout-requests-processed · checked 02:19 UTCDated 29 Apr 2026.
- S9Help Center: Add-ons overviewhelp.pinexcapital.com/en/articles/15420732-add-ons-overview · checked 02:20 UTCDated 8 Jun 2026.
- S10Help Center: Restricted and prohibited trading strategieshelp.pinexcapital.com/en/articles/13363132-what-are-the-restricted-prohibited-trading-strategies · checked 02:19 UTCUndated (“updated over a month ago”).
- S11Help Center: Which countries cannot apply?help.pinexcapital.com/en/articles/13363031-which-countries-cannot-apply-for-pinex-capital · checked 02:19 UTCDated 9 Sep 2026.
- S12AML / KYC Policypinexcapital.com/en/policy · checked 02:19 UTCEffective 30 Jun 2026, version 1.0.
- S13Legal Noticepinexcapital.com/en/legal-notice · checked 02:19 UTC
Also checked the same day
- S14Help Center: Weekend trading and holdinghelp.pinexcapital.com/en/articles/13362960-is-trading-or-holding-trades-over-the-weekend-allowed · checked 02:19 UTCDated 26 Jun 2026.
- S15Help Center: Daily vs maximum loss limithelp.pinexcapital.com/en/articles/16247676-daily-loss-limit-vs-maximum-loss-limit-what-is-the-difference · checked 02:20 UTCDated 10 Aug 2026.
- S16Help Center: What is a trading day?help.pinexcapital.com/en/articles/13363033-what-is-a-trading-day · checked 02:19 UTCDated 29 Apr 2026.
- S17Help Center: Trading during news eventshelp.pinexcapital.com/en/articles/13631679-am-i-allowed-to-trade-during-news-events · checked 02:19 UTCDated 14 Aug 2026.
- S18Help Center: Expert Advisorshelp.pinexcapital.com/en/articles/13362878-can-i-use-expert-advisors-eas · checked 02:19 UTCDated 29 Apr 2026.
- S19Help Center: Risk Limitation Policyhelp.pinexcapital.com/en/articles/13761391-risk-limitation-policy · checked 02:19 UTCDated 29 Apr 2026.
- S20Help Center: How is inactivity calculated?help.pinexcapital.com/en/articles/13362932-how-is-inactivity-calculated · checked 02:19 UTCDated 29 Apr 2026.
- S21Help Center: Is anyone else allowed to trade on my account?help.pinexcapital.com/en/articles/13362974-is-anyone-else-allowed-to-trade-on-my-account · checked 02:19 UTCDated 29 Apr 2026.
- S22Help Center: Reward paymentshelp.pinexcapital.com/en/articles/14034203-reward-payments · checked 02:19 UTCUndated (“updated over 3 weeks ago”).
- S23Help Center: How does account scaling work?help.pinexcapital.com/en/articles/15128955-how-does-account-scaling-work · checked 02:19 UTCDated 2 Jul 2026.
- S24Help Center: What premium tiers are there?help.pinexcapital.com/en/articles/15128962-what-premium-tiers-are-there · checked 02:19 UTCDated 2 Jul 2026.
- S25Help Center: Which trader programs do we offer?help.pinexcapital.com/en/articles/13362936-which-trader-programs-do-we-offer · checked 02:19 UTCUndated (“updated over 3 weeks ago”).
- S26Help Center: Pay Later participation costhelp.pinexcapital.com/en/articles/14526712-how-much-does-participation-cost · checked 02:19 UTCDated 15 Jul 2026.
- S27Help Center: Which trading platform is used?help.pinexcapital.com/en/articles/13832239-which-trading-platform-is-used-at-pinex-capital · checked 02:19 UTCDated 29 Apr 2026.
- S28Help Center: Trading instrumentshelp.pinexcapital.com/en/articles/13362954-which-trading-instruments-are-available-on-our-platform · checked 02:19 UTCDated 29 Apr 2026.
- S29Help Center: Direct Fundinghelp.pinexcapital.com/en/articles/15896553-direct-funding · checked 02:20 UTCDated 24 Aug 2026; its collection is marked “(expiring)”.
- S30Help Center: Payment methodshelp.pinexcapital.com/en/articles/13631342-payment-methods · checked 02:19 UTCDated 29 Apr 2026.
- S31Pay Later Challenge pagepinexcapital.com/en/pay-later-challenge · checked 02:19 UTCSizes, entry price and fees after passing; checkout not opened.
- S32Payouts pagepinexcapital.com/en/payouts · checked 02:19 UTC
- S331-Step Challenge pagepinexcapital.com/en/1-step-challenge · checked 02:19 UTC
- S34Instant Funding pagepinexcapital.com/en/instant-funding · checked 02:19 UTC
- S35MetaTrader 5 pagepinexcapital.com/en/mt5-prop-firm · checked 02:19 UTC
- S36Scaling pagepinexcapital.com/en/scaling · checked 02:19 UTC
- S37About pagepinexcapital.com/en/about-us · checked 02:19 UTC
- S38Contact pagepinexcapital.com/en/contact · checked 02:19 UTC
- S39Trading Rules pagepinexcapital.com/en/rules · checked 02:19 UTCCalls itself a simplified overview; only the help centre is binding.
- S40Blog: prop firm discount codespinexcapital.com/en/blogs/prop-firm-discount-code · checked 02:19 UTCDated 24 Sep 2026; its code table was “last checked” in September 2026.
How this review was researched
We read the General Terms, the AML/KYC policy and all 43 English help-centre articles in full, logged every claim with its model, stage and source, compared them with the sales pages, and re-fetched every page on 16 Oct 2026 (02:19–02:20 UTC). “Published” means PineX says it, not that it is proven. Our methodology
Affiliate disclosure
Up Trade Funded is reader-supported. “Visit PineX Capital” buttons use our referral link and we may earn a commission; that does not change this review. Source links carry no referral. Affiliate disclosure
Figures come from PineX Capital's official documents, checked 16 Oct 2026. Terms change often; confirm the current version on pinexcapital.com before buying.