Head-to-head
Belvedere Trading vs Five Rings
A direct, side-by-side comparison of Belvedere Trading and Five Rings — 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 who prefer Firm Capital and a Chicago, USA-based firm.
Full Belvedere Trading 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)
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.
Five Rings
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)
Five Rings trade-offs
No structural disadvantages versus the other firm based on the fields we track.
Decision guide
Best for your trader type
- Highest profit share
Tie
Both pay 50%.
| Attribute | Belvedere Trading Firm Capital · est. 2002 | Five Rings Firm Capital · est. 2014 |
|---|---|---|
| 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 | Yes |
| Stocks | Yes | Yes |
| Options | Yes | Yes |
| Forex | No | Yes |
| 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 |
| Data feed | — | — |
| Company | ||
| Headquarters | Chicago, USA | New York, 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 Five Rings
Quantitative proprietary trading firm trading global financial products using sophisticated mathematical models and technology.
Full Five Rings 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 Five Rings?
- Belvedere Trading pays 50%; Five Rings pays 50% of trader profits once funded. Both firms offer the same profit share.
- Which pays out faster — Belvedere Trading or Five Rings?
- Belvedere Trading payouts: Annual bonus. Five Rings payouts: Annual bonus.
- Can I trade news at Belvedere Trading or Five Rings?
- Belvedere Trading: permits news trading. Five Rings: permits news trading.
- Can I hold positions overnight at Belvedere Trading or Five Rings?
- Belvedere Trading: allows overnight holds. Five Rings: allows overnight holds.
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