Head-to-head
Belvedere Trading vs Citadel Securities
A direct, side-by-side comparison of Belvedere Trading and Citadel Securities — profit splits, evaluation fees, payout cadence, supported assets, and trading rules. Data pulled live from our firm directory.
Quick verdict
Belvedere Trading is best for
traders focused on futures.
Full Belvedere Trading profile →Quick verdict
Citadel Securities is best for
traders who prefer Firm Capital Model and a Miami, USA-based firm.
Full Citadel Securities profile →Watch flags · risk only
Public risk notes we've recorded on the firm record. Not a judgement of fit — just things to verify before committing capital.
- Belvedere Trading
regulatory action by the CFTC for market manipulation (spoofing)
- Citadel Securities
past regulatory fines, regulatory censures, international regulatory settlements
Cost & compensation
Cost and compensation path
Published fees and payout timing apply to trader-paid funding programs. Firm-capital and institutional paths are shown separately because their economics usually depend on hiring, allocation, salary, bonus, or profit-sharing terms.
Belvedere Trading
Firm CapitalNot applicable for this model
This is a firm-capital or hiring-based trading path, not a trader-paid funding program. Compensation is typically handled through salary, bonus, draw, allocation, or profit-sharing arrangements rather than a published evaluation fee and payout schedule.
Citadel Securities
Firm CapitalNot applicable for this model
This is a firm-capital or hiring-based trading path, not a trader-paid funding program. Compensation is typically handled through salary, bonus, draw, allocation, or profit-sharing arrangements rather than a published evaluation fee and payout schedule.
Trade-offs
Where each firm is weaker
No firm wins on every axis. These are the most meaningful drawbacks of each option — derived from the same structured fields shown in the table, never invented.
Belvedere Trading trade-offs
Open risk note
Watch flag on file: regulatory action by the CFTC for market manipulation (spoofing)
Citadel Securities trade-offs
Open risk note
Watch flag on file: past regulatory fines, regulatory censures, international regulatory settlements
Decision guide
Best for your trader type
- Highest profit share
Tie
Both pay 50%.
| Attribute | Belvedere Trading Firm Capital · est. 2002 | Citadel Securities Firm Capital · est. 2002 |
|---|---|---|
| Cost | ||
| Evaluation fee | — | — |
| Monthly fee | — | — |
| Evaluation required | No | No |
| Instant funding | No | No |
| Capital | ||
| Profit split | 50% | 50% |
| Max allocation | Institutional only | Institutional only |
| Account sizes | Institutional only | Institutional only |
| Scaling | — | — |
| Payouts | ||
| Frequency | Annual bonus | Annual bonus |
| First payout | — | — |
| Assets | ||
| Futures | Yes | No |
| Stocks | Yes | Yes |
| Options | Yes | Yes |
| Forex | No | No |
| Crypto | No | No |
| Trading rules | ||
| News trading | Yes | Yes |
| Overnight holding | Yes | Yes |
| Weekend holding | Yes | Yes |
| Copy trading | No | No |
| Technology | ||
| Platforms | Proprietary | Proprietary systems |
| Data feed | — | — |
| Company | ||
| Headquarters | Chicago, USA | Miami, USA |
About Belvedere Trading
Proprietary trading firm specializing in equity index and commodity options market making across CBOE, CME, and ICE.
Full Belvedere Trading profile →About Citadel Securities
Leading global market maker across equities and fixed income.
Full Citadel Securities profile →Trust & stability
Reputation and rule-change activity
Two added decision signals: a weighted reputation score from independent review sources, and a 90-day view of structural rule-change activity where monitored sources are available.
Reputation
Not enough independent rating sources to compute a canonical score yet.
Rule Stability
last 90dWe do not currently have enough monitored public rule sources for this firm to report rule-change activity honestly.
Reputation
Not enough independent rating sources to compute a canonical score yet.
Rule Stability
last 90dWe do not currently have enough monitored public rule sources for this firm to report rule-change activity honestly.
Frequently asked
Common questions
- Which has a higher profit split — Belvedere Trading or Citadel Securities?
- Belvedere Trading pays 50%; Citadel Securities pays 50% of trader profits once funded. Both firms offer the same profit share.
- Which pays out faster — Belvedere Trading or Citadel Securities?
- Belvedere Trading payouts: Annual bonus. Citadel Securities payouts: Annual bonus.
- Can I trade news at Belvedere Trading or Citadel Securities?
- Belvedere Trading: permits news trading. Citadel Securities: permits news trading.
- Can I hold positions overnight at Belvedere Trading or Citadel Securities?
- Belvedere Trading: allows overnight holds. Citadel Securities: allows overnight holds.
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