Score Changelog

Initial TVSM-PF v2.0.2 score, Futures profile, SIM-funded track (D51), post adversarial review. Strict D25. Composite 61.6 / Adequate; recommend=false (research-only).

TVSM-PF v2.0.2 source-backfill (autonomous batch): payout_split 7->8, pricing_honesty NULL->4; suspension_history/payout_speed/company_age/drawdown sourced no-change (2024 crisis keeps reliability low); remaining held; 45.60 Caution -> 47.70 Caution; recommend stays FALSE (score <50, D28)

pricing_honesty NULL->4: heavy discounting with list anchoring, effective price discoverable = level 4; candidate; batch 2026-06-17

payout_split 7->8: advertised split = 90% (level 8); payout reliability scored separately; batch 2026-06-17

payout_speed 5->6: frequent daily/weekly payouts, fee-free over $250 = level 6; batch 2026-06-17

rule_consistency 4->5: 50% consistency rule disclosed, permissive-but-impactful = level 5; batch 2026-06-17

TVSM-PF v2.0.2 source-backfill (autonomous batch): payout_speed 5->6, rule_consistency 4->5, company_age 7->8, pricing_honesty NULL->5; drawdown HELD 4 (funded PRO intraday trailing confirmed), payout_split/approval_friction sourced no-change; remaining held; 56.80 Adequate -> 60.10 Adequate

company_age 7->8: founded 2020 ~6 years; batch 2026-06-17

pricing_honesty NULL->5: subscription with near-permanent discounting, effective price clear = level 5; candidate; batch 2026-06-17

payout_split 7->6: base split = 80% (level 6); batch 2026-06-17

TVSM-PF v2.0.2 source-backfill (autonomous batch): drawdown cap-5 removed -> 6 (trailing), payout_split 7->6, company_age 4->6, pricing_honesty NULL->4; financial_transparency held 4 (documented opacity/payout-dispute concerns), payout_speed sourced; remaining held; 61.90 Adequate -> 64.10 Adequate

pricing_honesty NULL->4: heavy discount-gap >50% with aggressive promo mechanics, effective price discoverable = level 4; candidate; batch 2026-06-17

company_age 4->6 CORRECTION: founded 2022 ~3-4 years; prior 4 was stale; batch 2026-06-17

drawdown_model effective 5->6: phase-1 evidence_cap=5 removed; 6% trailing maximum drawdown (closed-balance) = level 6; batch 2026-06-17

financial_transparency 5->6: Gibraltar entity + live-capital path via registered FCM (Dorman Trading); batch 2026-06-17

TVSM-PF v2.0.2 source-backfill (autonomous batch): financial_transparency 5->6, platform_quality 6->7, company_age 5->6, pricing_honesty NULL->5; drawdown_model/payout_split sourced no-change; remaining held; 65.40 Strong -> 68.50 Strong

platform_quality 6->7: five futures platforms, no lock-in; batch 2026-06-17

company_age 5->6: founded 2022 ~3-4 years; batch 2026-06-17

pricing_honesty NULL->5: heavy discount codes (60% off) with promo urgency, effective price clear = level 5; candidate; batch 2026-06-17

pricing_honesty NULL->6: moderate discounting, effective price clear = level 6; candidate; batch 2026-06-17

TVSM-PF v2.0.2 source-backfill (autonomous batch): payout_split 8->6, company_age 5->6, pricing_honesty NULL->6; drawdown_model/rule_consistency/payout_speed sourced no-change; remaining held; 67.00 Strong -> 67.70 Strong

company_age 5->6: founded 2023 ~3 years; batch 2026-06-17

payout_split 8->6: standard split ~80% (range 70-90%, level 6); batch 2026-06-17

payout_split 8->6: standard/base split = 80% (level 6); 100% performance-scaled; batch 2026-06-17

TVSM-PF v2.0.2 source-backfill (autonomous batch): drawdown cap-5 removed -> 7 (EOD), payout_split 8->6, financial_transparency 5->6, pricing_honesty NULL->6; payout_speed/company_age sourced no-change; remaining held; 67.40 Strong -> 70.00 Strong

financial_transparency 5->6: disclosed payout scale/history + reviews; batch 2026-06-17

pricing_honesty NULL->6: moderate discounting, effective price clear = level 6; candidate; batch 2026-06-17

drawdown_model effective 5->7: phase-1 evidence_cap=5 removed; EOD dynamic drawdown (trails EOD, no intraday trailing) = level 7 (raw row 8->7); batch 2026-06-17

payout_split 7->6: standard split = 80% (level 6); batch 2026-06-17

TVSM-PF v2.0.2 source-backfill (autonomous batch): payout_cap 10->5 (void-excess cap), payout_split 7->6, fee_refundable 7->8, financial_transparency 4->5, pricing_honesty NULL->6; drawdown_model/payout_speed sourced no-change; remaining held; 67.70 Strong -> 65.80 Strong

fee_refundable 7->8: fee refunded by 3rd withdrawal = level 8; batch 2026-06-17

financial_transparency 4->5: registered entity (BC1363148) + named CEO Jon Alexander = level 5; batch 2026-06-17

pricing_honesty NULL->6: transparent low base fees, moderate discounting = level 6; candidate; batch 2026-06-17

payout_cap 10->5 CORRECTION: hard $10K/30-day rolling cap, excess VOIDED (earned profit forfeited) = level 5; prior 10 (no cap) was wrong; batch 2026-06-17

platform_quality 6->7: four platforms incl MT5/cTrader; batch 2026-06-17

TVSM-PF v2.0.2 source-backfill (autonomous batch): drawdown cap-5 removed -> 6 (trailing high-water), payout_split 8->6, platform_quality 6->7, pricing_honesty NULL->6, company_age 7->8; approval_friction sourced; remaining held; 69.20 Strong -> 71.20 Strong

company_age 7->8: founded 2020 ~6 years; batch 2026-06-17

pricing_honesty NULL->6: moderate discounting, effective price clear = level 6; candidate; batch 2026-06-17

payout_split 8->6: standard split = 80% (level 6); batch 2026-06-17

drawdown_model effective 5->6: phase-1 evidence_cap=5 removed; representative trailing high-water drawdown locking at start = level 6 (raw row 8->6; 10% static option also offered); batch 2026-06-17

pricing_honesty 1->5: placeholder corrected; moderate discounting on low base fees = level 5; candidate; batch 2026-06-17

TVSM-PF v2.0.2 source-backfill (autonomous batch): payout_split 9->5 (correction), pricing_honesty 1->5, company_age 7->8; drawdown_model/payout_speed/platform_quality sourced no-change; remaining held; 70.10 Strong -> 68.60 Strong

company_age 7->8: long-established (since ~2012); batch 2026-06-17

payout_split 9->5 CORRECTION: standard split ~75% (level 5); documented range 50-90%; prior 9 was wrong; batch 2026-06-17

pricing_honesty NULL->5: one-time fee, frequent coupon discounting, effective price clear = level 5; candidate; batch 2026-06-17

TVSM-PF v2.0.2 source-backfill (autonomous batch): drawdown_model 7->8 (EOD), pricing_honesty NULL->5; payout_split/payout_speed/rule_consistency/company_age sourced no-change; remaining held; 70.50 Strong -> 73.00 Strong

drawdown_model 7->8: EOD trailing on closed (day-trading) balance = level 8; batch 2026-06-17

payout_speed 9->10: 1-hour payouts independently Deloitte-audited (99% in 1h) = level 10; batch 2026-06-17

TVSM-PF v2.0.2 source-backfill (autonomous batch): drawdown_model cap-5 removed -> 8 (static), payout_speed 9->10, fee_refundable 7->8, pricing_honesty NULL->5; payout_split/company_age sourced no-change; remaining held; 71.80 Strong -> 77.20 Strong

fee_refundable 7->8: fee refunded with first payout = level 8; batch 2026-06-17

pricing_honesty NULL->5: frequent discounting with promo urgency, effective price discoverable = level 5; candidate; batch 2026-06-17

drawdown_model effective 5->8: phase-1 evidence_cap=5 removed after verification; standard challenge uses STATIC overall drawdown (% of initial balance) = level 8 (raw row 7->8); batch 2026-06-17

pricing_honesty NULL->6: moderate discounting, effective price clear = level 6; candidate; batch 2026-06-17

TVSM-PF v2.0.2 source-backfill (autonomous batch): payout_split 8->6, platform_quality 6->7, pricing_honesty NULL->6; drawdown_model/payout_speed/company_age sourced no-change; remaining held; affiliate retained (Strong); 72.90 Strong -> 73.50 Strong

platform_quality 6->7: five platforms incl MT4/MT5/cTrader; batch 2026-06-17

payout_split 8->6: standard split = 80% (level 6); 90-100% performance-scaled; batch 2026-06-17

rule_consistency 7->8: no consistency rule on funded accounts (eval-only) = level 8; batch 2026-06-17

TVSM-PF v2.0.2 source-backfill (autonomous batch): payout_split 9->8, rule_consistency 7->8, pricing_honesty NULL->7; drawdown_model (hold 4, intraday confirmed)/company_age/approval_friction sourced; remaining held; 73.90 Strong -> 75.90 Strong

pricing_honesty NULL->7: transparent flat monthly pricing, minimal false-urgency = level 7; candidate; batch 2026-06-17

payout_split 9->8: standard split = 90% (level 8); batch 2026-06-17

payout_split 8->7: tiered split ~80-90% by cadence (blend level 7); batch 2026-06-17

TVSM-PF v2.0.2 source-backfill (autonomous batch): drawdown_model 8->9 (static), payout_split 8->7, platform_quality 6->7, company_age 5->6, pricing_honesty NULL->6; fee_refundable sourced; remaining held; 74.60 Strong -> 77.50 Strong

platform_quality 6->7: five platforms incl MT5/cTrader; batch 2026-06-17

company_age 5->6: founded 2022 ~3.5 years; batch 2026-06-17

pricing_honesty NULL->6: moderate discounting, effective price clear = level 6; candidate; batch 2026-06-17

drawdown_model 8->9: standard accounts use STATIC drawdown (fixed floor from start) = level 9; batch 2026-06-17

pricing_honesty NULL->5: one-time fee, frequent coupon discounting, effective price clear = level 5; candidate; batch 2026-06-17

TVSM-PF v2.0.2 source-backfill (autonomous batch): payout_split 7->6, company_age 5->6, pricing_honesty NULL->5; drawdown_model/approval_friction/payout_cap sourced no-change (Core representative); remaining held; 74.80 Strong -> 76.00 Strong

company_age 5->6: founded 2023 ~3 years; batch 2026-06-17

payout_split 7->6: representative Core plan = 80% (level 6); batch 2026-06-17

platform_quality 6->7: four platforms incl MT5/cTrader; batch 2026-06-17

TVSM-PF v2.0.2 source-backfill (autonomous batch): payout_split 8->6, platform_quality 6->7, fee_refundable 7->8, pricing_honesty NULL->6; payout_speed/drawdown_model/financial_transparency sourced no-change; remaining held; 75.20 Strong -> 76.20 Strong

payout_split 8->6: standard split = 80% (level 6); 90% scaled ceiling; batch 2026-06-17

fee_refundable 7->8: fee refunded within first payouts; batch 2026-06-17

pricing_honesty NULL->6: moderate discounting, effective price clear = level 6; candidate; batch 2026-06-17

TVSM-PF v2.0.2 source-backfill (autonomous batch): drawdown_model 7->8, pricing_honesty NULL->5, fee_refundable 3->2; payout_split/approval_friction/company_age sourced no-change; remaining held; 75.90 Strong -> 78.00 Strong

fee_refundable 3->2: no refund at any stage, explicitly stated = level 2; batch 2026-06-17

pricing_honesty NULL->5: one-time fee but frequent coupon discounting with urgency, effective price clear = level 5; candidate; batch 2026-06-17

drawdown_model 7->8: EOD trailing on closed (day-trading) balance, floor at SB+$100 = level 8; batch 2026-06-17

drawdown_model 4->9 CORRECTION: Lux uses a 6% STATIC drawdown fixed at starting balance (does not trail) = level 9; prior 4 (trailing-intraday) was a mis-read; batch 2026-06-17

TVSM-PF v2.0.2 source-backfill (autonomous batch): drawdown_model 4->9 (static-drawdown correction), payout_split 8->5, fee_refundable 7->9, pricing_honesty 1->6, company_age 7->8, platform_quality 6->7; approval_friction sourced; remaining held; 68.40 Strong -> 73.90 Strong

platform_quality 6->7: four platforms incl MT5 + DMA; batch 2026-06-17

company_age 7->8: founded 2020 ~6 years; batch 2026-06-17

pricing_honesty 1->6: placeholder corrected; moderate discounting, effective price clear = level 6; evidence_state candidate; batch 2026-06-17

fee_refundable 7->9: fee 100% refunded on passing evaluation, conditions stated = level 9; batch 2026-06-17

payout_split 8->5: standard split = 75% (level 5); 80% is a scaled ceiling; prior 8 assumed 90%+; batch 2026-06-17

TVSM-PF v2.0.2 source-backfill COMPLETION (autonomous batch): pricing_honesty NULL->7; rule_clarity/rule_consistency/suspension_history/tos_stability/platform_quality/financial_transparency sourced no-change; effective_fee_ratio/execution_reliability/fee_refundable/complaint_velocity held; 73.10 Strong -> 75.50 Strong

pricing_honesty NULL->7: fixed one-time pricing with moderate time-bound promos, effective price clear, no false-urgency = level 7; evidence_state candidate; batch 2026-06-17

TVSM-PF v2.0.2 source-backfill COMPLETION (autonomous batch): pricing_honesty NULL->8; rule_clarity/rule_consistency/suspension_history/tos_stability/execution_reliability/verified_complaint_velocity sourced no-change (completes June-14 partial, now 17/17 sourced); 77.10 Strong -> 79.90 Strong

pricing_honesty NULL->8: transparent fixed challenge pricing (list = normal price), fee refundable on first payout, only genuine occasional promos, no checkout additions = level 8; batch 2026-06-17

pricing_honesty NULL->7: transparent tier subscription, no activation fee, modest promos, effective price clear = level 7; evidence_state candidate; batch 2026-06-17

TVSM-PF v2.0.2 source-backfill (autonomous batch): drawdown_model 6->7, pricing_honesty NULL->7; payout_split/payout_speed/approval_friction/company_age sourced no-change; remaining held; 76.30 Strong -> 79.60 Strong (affiliate retained)

drawdown_model 6->7: EOD trailing drawdown (trailing-EOD, EOD-equity) per TCP/Gauntlet Mini rules = level 7; prior 6 understated; batch 2026-06-17

drawdown_model 8->7: representative Classic trailing drawdown (EOD/equity) = level 7; Prime static = 10 (same firm, premium); batch 2026-06-17

TVSM-PF v2.0.2 source-backfill (autonomous batch): payout_split 8->6, drawdown_model 8->7, platform_quality 6->8, pricing_honesty NULL->7; fee_refundable/financial_transparency/approval_friction sourced no-change; remaining held; 76.80 Strong -> 77.30 Strong

pricing_honesty NULL->7: modest ~10-20% discounting, effective price clear, no false-urgency = level 7; evidence_state candidate; batch 2026-06-17

platform_quality 6->8: nine platforms incl MT4/MT5 + futures stack = level 8; prior 6 understated; batch 2026-06-17

payout_split 8->6: standard split = 80% (Prime fixed / headline) = level 6; prior 8 assumed 90%+; batch 2026-06-17

approval_friction 6->5: two-rule payout structure + 50% consistency + winning-days gating materially complicate payouts, documented = level 5; batch 2026-06-17

TVSM-PF v2.0.2 source-backfill (autonomous batch): drawdown_model 7->8, approval_friction 6->5, pricing_honesty NULL->4; payout_split/rule_consistency/tos_stability/company_age/financial_transparency/payout_speed sourced no-change; payout_cap already sourced 2026-06-12 (skipped); platform_quality/execution_reliability/fee_refundable/effective_fee_ratio/complaint_velocity/rule_clarity/suspension_history held; 59.80 Adequate -> 61.10 Adequate

pricing_honesty NULL->4: near-permanent 50%+ subscription discounts (list near-fictional) but effective price discoverable = level 4; evidence_state candidate; batch 2026-06-17

drawdown_model 7->8: trailing-EOD on peak end-of-day (closed/realized) balance, day-trading-only = closed-balance basis = level 8; batch 2026-06-17

drawdown_model 7->4: representative = Intraday TMD (Quick Pay funded default), trailing-intraday on unrealized equity, floor at starting balance = level 4; conservative read (EOD TMD=8/Static=10 same-price alternatives); batch 2026-06-17

TVSM-PF v2.0.2 source-backfill (autonomous batch): approval_friction 8->9, drawdown_model 7->4, pricing_honesty NULL->6, fee_refundable 3->2; payout_split/payout_cap/rule_consistency/rule_clarity/company_age/financial_transparency sourced no-change; payout_speed/effective_fee_ratio/complaint_velocity/execution_reliability/tos_stability/suspension_history/platform_quality held; 75.40 Strong -> 75.10 Strong

fee_refundable 3->2: subscription fees non-refundable, explicitly stated = level 2; batch 2026-06-17

pricing_honesty NULL->6: moderate rotating named monthly sales (TDNEW), no fictional anchor or resetting timer, effective price clear = level 6; evidence_state candidate; batch 2026-06-17

approval_friction 8->9: funded payouts have no buffer, any positive balance, no min period, <24h, disclosed = level 9; batch 2026-06-17

rule_clarity 8->7: rules individually clear but now span three product-line doc families (EOD/Intraday/Legacy) and post-2026-03-01 enforcement untested (P1~3, P4 untested); evidence_state candidate; backfill 2026-06-17

TVSM-PF v2.0.2 composite recomputed (live-row method) after Apex source-backfill (Scenario B, owner decision 2026-06-17): drawdown_model 7->4 (Intraday Trail representative), payout_split 9->10, payout_speed 8->7, rule_clarity 8->7, rule_consistency 7->8, pricing_honesty NULL->3, tos_stability 6->5, suspension_history 8->7, financial_transparency 7->8, fee_refundable 4->2; company_age/approval_friction/platform_quality/execution_reliability/effective_fee_ratio/verified_complaint_velocity/payout_cap held; 69.20 Strong -> 66.20 Strong

fee_refundable 4->2: evaluation fee non-refundable, explicitly stated ("cannot be refunded, transferred, or changed ... is not a subscription") = level 2; backfill 2026-06-17

financial_transparency 7->8: named verifiable owner/CEO Darrell Martin + clearly-explained model + self-published payout totals ($627.96M since 2022); one minor ambiguity (unaudited self-reporting); evidence_state candidate; backfill 2026-06-17

suspension_history 8->7: continuous operation under one name since 2021 (no operational suspension/rebrand) but a documented Aug-2024 payout-delay episode + legacy discretionary-denial reputation (since removed in relaunch); evidence_state candidate; backfill 2026-06-17

tos_stability 6->5: full product/rule relaunch 2026-03-01 plus documented 2024 payout-rule changes; mitigated by announced, explicitly non-retroactive handling (legacy honored); evidence_state candidate; backfill 2026-06-17

pricing_honesty NULL->3 (was imputed 1 in composite): UP TO 90% OFF perpetual coupon (code SAVENOW) + resetting countdown + multi-year rotating-coupon history = discount gap >50% with false-urgency mechanics = level 3; effective price discoverable pre-checkout; backfill 2026-06-17

rule_consistency 7->8: 50% consistency = permissive (>40%) disclosed pre-purchase; news effectively permitted (anti-hedge restriction only); New-Apex EOD; backfill 2026-06-17

payout_speed 8->7: firm-stated only ("5 Days for Payouts. No Payout Denials"), no >=2 independent dated payout-receipt reports this pass; rubric 1.3 caps stated-only at 7; evidence_state limited; backfill 2026-06-17

payout_split 9->10: standard split = 100% ("Approved payouts are issued at a 100% payout split") under New-Apex EOD payouts; per-request dollar caps remain scored under payout_cap; backfill 2026-06-17

drawdown_model 7->4: representative product = Intraday Trail (configurator default) — trailing-intraday on open/unrealized equity, floor at Starting Balance + $100; account can breach mid-trade on unrealized P&L = rubric level 4; same-priced EOD Trail alternative = level 7; owner decision 2026-06-17 (Scenario B, risk-protective read); backfill 2026-06-17

TVSM-PF v2.0.2 full recompute from all 17 primary-sourced rows; Strong to Strong rebase, no re-band. The old 75.6 was inflated by payout_cap=10 (no-cap, false) and a null pricing_honesty. Drivers: payout_cap 10 to 5 (2000 USD per-request crypto cap plus cycle gating), payout_speed 10 to 7 (24h corroborated but cycle-gated, not on-demand), approval_friction 8 to 5 (21-day first cycle then biweekly), suspension_history 10 to 7 (Feb-2024 US exit, Oct-2024 RBI alert, none trader-harm), financial_transparency 7 to 5 (platform entity in Moheli Comoros, multi-entity offshore), offset by pricing_honesty null to 8 and platform_quality 6 to 7. No hard caps fired. Delta is -8.2 vs the displayed 75.6 (which imputed null pricing to 1); -7.8 vs the live-row 75.2 baseline.

financial_transparency 4 to 3: Conduct Policy and T and C name a three-entity structure. Platforms and simulated accounts are provided by City Traders Imperium Ltd registered in Comoros (Anjouan), an offshore license-mill where the license number equals the company number. Combined with the dissolved UK entity and UAE education entity, this is multi-layer opacity around the entity the trader depends on. Named founders prevent a 2. Surfaced after the initial write.

TVSM-PF v2.0.2 full recompute from all 17 primary-sourced live rows. The frozen 77.8 was stale: criteria were evidence-backfilled in a prior session and firms.score was never recomputed, so the -15.4 is a methodology rebase off a non-reproducible legacy number, NOT firm deterioration. Drivers vs the old number: payout_cap and drawdown equity-basis correction, plus rule clarity and consistency discretion downgrades. No hard caps fired (payout_split 6, suspension_history 4). 77.8 Strong to 62.4 Adequate.

rule_clarity 6 to 5: clear help-center articles sit atop a controlling T and C that reserves sole discretion to define prohibited conduct after the fact (s9.2), cut leverage at will (s9.6e), add permanent consistency measures (s10.2.9), terminate without cause (s13.12). Sole-discretion-after-the-fact collapses ex-ante rule certainty. Adversarial review concurred.

payout_cap 1 to 9: no withdrawal cap found across full governing doc set (payout article, all challenge tiers, Instant, Conduct Policy, 30-section T and C); only a 100 USD minimum. Re-scored up from a provisional undisclosed-1 after the Challenge and FAQ doc was obtained 2026-06-15. Not 10: no source affirmatively states unlimited.

payout_speed 8->6: stated processing 5-8 business days per the5ers withdrawals FAQ (1.3 caps stated-only at 7; 6 lower-read of the range); marketing 16h avg contradicted; backfill 2026-06-14

TVSM-PF v2.0.2 composite recomputed via rescore-tvsm-pf.mjs after the5ers source-backfill (payout_cap 10->6, payout_speed 8->6, payout_split 7->6, approval_friction 8->7); drawdown_model confirmed 9 and company_age 10 sourced with no score change; pricing_honesty NULL imputes 1; trajectory_adj 0; no caps; 79.4 Strong to 73.1 Strong

approval_friction 8->7: disclosed 14-day first-withdrawal wait then every 2 weeks per the5ers withdrawals FAQ; evidence_state candidate; backfill 2026-06-14

payout_split 7->6: standard split 80% per the5ers FAQ example (up to 100% is a scaled ceiling, excluded per axis); evidence_state candidate; backfill 2026-06-14

payout_cap 10->6: the5ers caps the first four payouts per account size (50K ramps to $3,000/withdrawal, 25K $1,250 flat, 100K 3% of balance); standard 50K-100K steady ~$6,000/mo = level 6 per 1.2; primary the5ers payout-caps FAQ; backfill 2026-06-14

effective_fee_ratio 7->9: 50K 2-Step fee EUR 345 / 50000 = 0.69 percent maps to level 9, per FTMO pricing widget ftmo.com/en; primary-sourced backfill 2026-06-14

TVSM-PF v2.0.2 composite recomputed via rescore-tvsm-pf.mjs from updated firm_criteria (drawdown_model 8->5, effective_fee_ratio 7->9, approval_friction 8->7, financial_transparency 10->9); pricing_honesty NULL deferred imputes 1; trajectory_adj 0; no caps; 80.0 Excellent to 77.1 Strong

financial_transparency 10->9: Czech-registered named entity FTMO Evaluation Global s.r.o. ID 092 13 651, no audited public financials, per FTMO General Terms and Conditions; primary-sourced backfill 2026-06-14

approval_friction 8->7: disclosed 14-day first-claim waiting condition, no buffer, per FTMO withdraw FAQ ftmo.com/en/faq/how-do-i-withdraw-my-profits; primary-sourced backfill 2026-06-14

drawdown_model 8->5: static floor but equity-basis (floating losses breach intraday) per FTMO 2-Step Maximum Loss, ftmo.com/en/trading-objectives; primary-sourced backfill 2026-06-14

payout_cap 4->5: stored row mis-ranked ($4,000 is rung-5 band); live primary confirms $4,000 terminal cap on $100K EOD ladder, account force-closes after payout 6.

payout_cap verified vs primary (Topstep Payout Policy); evidence trail backfilled; XFA Standard $50K default per §1.2, $2,000 per-cycle cap -> rung 3; no rung change.

pricing-honesty-first-capture

tos-event-2026-program-overhaul

approval-friction-winning-day-gate

fee-ratio-subscription-model-3mo

split-correction-tiered-ladder-retired

payout_cap-contradiction-A3

Initial TVSM-BR score (v1.0.1) — composite 43 (Caution; engine raw 43.10). Scored entity is the one Canadians actually contract with: Gleneagle Securities Pty Limited t/a Global Prime (Vanuatu Co. 40256, VFSC) — NOT the prominently marketed ASIC entity (AFSL 385620), which Canadians cannot onboard; Ontario residents excluded entirely. D1 = 4.40: entity_tier=4 (verbatim entity-mismatch rung — "a stronger group routes this audience to an offshore sibling"), license_status=6 (conditional on VFSC register confirm), supervision_scope=3 (registration-grade regime; no AFCA equivalent). D2 = 1.80: no compensation scheme. D3 = 4.00: June-7 open question #3 RESOLVED — the VFSC PDS (37pp, read in full) names NO custodian institution; the group NAB claim does not propagate; segregation_model=5 (pooled trust asserted, thin verification), rehypothecation=4 (principal + hedge-counterparty model, client recovery exposure explicit), custody_tier=4 (offshore, unnamed institution; structure disclosed → no L2 compression). D4 = 4.29: capital=4 (no public filings), history=6 (Nov 2023 Fusion Markets consolidation at the scored entity), parent=4, scale=2 (D25-Control). D5 = 7.00: NBP ceiling BINDS (base 7.538; PDS explicit — losses "may vastly exceed" deposit); withdrawal record is the brand's standout strength (reliability=8). D6 = 6.75: ownership=6, enforcement=8 (clean as verifiable), execution_conflict=6 (PDS discloses PRINCIPAL market-making with hedge counterparties; A6 — legal docs outrank the agency/DMA marketing). Caps: none fire (L2 checked and clear: D3 4.00 > 2). recommend=FALSE; affiliate suppressed (43 < 50, D28/D49). status_warning set: VFSC-entity onboarding + Ontario exclusion. Final broker of the TVSM-BR Tier-1 batch.

Initial TVSM-BR score (v1.0.1) — composite 44 (Caution; engine raw 43.90). REVISION 2: the 50-composite Rev-1 draft was hard-stopped at its own checkpoint when the operator's NFA BASIC pull (ID 0481133, June 2026) returned registration "Pending Withdrawal" and "Firm On Withdrawal Hold" — the onboarding entity is exiting its CFTC/NFA registration under an NFA-imposed hold. Rev-2 changes: d1_license_status 9→4 (ladder 1B "under review" class), d6_enforcement_history 8→4 (open regulatory status matter, undisclosed cause; A3 lower interpretation; clean-record bundles require resolved status), d4_operational_history 8→4 (tenure ladder presumes ongoing operation; a filed withdrawal puts an end-date in motion on the 22-year continuity premise). Unchanged: D2=1.80 (no scheme), D3=5.00 (Axis_B custody binding — funds at client-selected FCMs ADMIS/Wedbush/Plus500/StoneX/Phillip Capital, a structural mitigant: customer funds do NOT sit at the exiting entity), D5=7.00 (NBP ceiling binds). Caps: L1/L2/L4 do not fire; L3 STRESS FLAG FIRES (2 signals: pending withdrawal + NFA hold). ARMED TRIGGER: if the withdrawal completes, the entity becomes unregistered → immediate re-score / delist evaluation. recommend=FALSE (44 < 50, D28/D49 — Research-only). status_warning spec set. Founded Jan 2004 by Matt Zimberg; second IIB scored.

Initial TVSM-BR score (v1.0.1) — composite 52 (Adequate; engine raw 51.60). Cannon Trading Company, Inc. (NFA 0216708), US Independent Introducing Broker founded 1988 — first IIB published under TVSM-BR. D1 = 5.96: entity_tier=5 (IIB tier per AMP-encoded calibration "IIB/platform tier (4–5)" — no DSRO, no daily seg surveillance, holds no customer funds), license_status=9 (conditional on human NFA BASIC pull), supervision_scope=4. D2 = 1.80: no compensation scheme — sibling-consistent with all published US futures entities (June-7 draft's 3.5 had no ladder basis; corrected). D3 = 6.00: Axis_A=7.286 (segregation_model=8 — funds wire DIRECTLY to FCM-titled §1.20 seg accounts, never touching Cannon, verified from Cannon's own wiring instructions; rehypothecation=6 — Reg 1.25 regime at whichever of the five FCMs the client selects, conservative end per A3); Axis_B=6 BINDING (five NAMED FCMs with NAMED receiving banks: StoneX/BMO Harris, TransAct/Harris, Dorman/BMO Harris, Phillip Capital/Citibank, Ironbeam/BMO Harris). D4 = 4.86: regulatory_capital=4 (IB filings non-public; ladder "meets minimum but thin disclosure"), operational_history=8 (37 years — longest in the published set), parent_backing=4 (family-held, no parent), client_scale=2 (undisclosed; D25-Control — not adverse). D5 = 7.00: NBP ceiling BINDS (US; base 7.154 > 7.0); 7/7/8/7; no extractive/dormancy/freeze flags. D6 = 6.50: ownership_transparency=4 (opaque family IIB — zero named principals on the public site; the one variable ruling documented in the June-7 commit, corroborated), enforcement_history=8 (conditional on BASIC pull — open question #5), execution_conflict=8 (pure agency). No caps bind; L3 zero signals; S1. Delta vs June-7 draft (57): D1 and D2 sibling-consistency corrections, not new adverse facts. recommend=true (52 ≥ 50). affiliate_url and go_slug nulled — placeholders, no program exists (D49).

Initial TVSM-BR score (v1.0.1) — composite 56 (Adequate; engine raw 55.50). Ironbeam, Inc. (CFTC FCM, CME DSRO, NFA ID 415708 pending manual BASIC confirm), self-clearing US futures FCM founded 2001 by Omid M. Farr (sole owner via Tavage, Inc.). D1 = 7.80: entity_tier=8 (full-stack US FCM), license_status=9 (active, unconditioned — CME fine imposed no license conditions), supervision_scope=5 (US-only). D2 = 1.80: no compensation scheme (SIPC excludes futures; no CIPF equivalent); 2/2/1. D3 = 5.00: Axis_A=7.286 (segregation_model=8 §4d; rehypothecation=6 — invests seg funds in Reg 1.25 permitted instruments, one documented concentration-control failure Oct 30 2025, self-corrected next day, no shortfall); Axis_B=5 BINDING (custody structure disclosed — multiple FDIC-reviewed US bank depositories — but NO institution named in Dec 2025 disclosure; prior BMO Harris/MB Financial naming stale). L2 does not fire (D2 1.80 ≤ 2 but D3 5.00 > 2). D4 = 6.21: regulatory_capital=7 (ANC $16.55M = 5.1× requirement, Nov 30 2025), operational_history=8 (25y same founder), parent_backing=4 (founder holdco, no institutional parent), client_scale=4 (15 customers = 50% of seg-funds requirement — severe concentration, disclosed). D5 = 7.00: NBP ceiling BINDS (US; base 7.154 > 7.0); 7/7/8/7; no extractive/dormancy/freeze flags. D6 = 5.75: ownership_transparency=6 (named sole owner, full bio), enforcement_history=4 (CME 24-1755-BC — Reg 1.25 MMMF concentration limits on customer-segregated funds, $50K, settled NAND, self-corrected; client-money-related per ladder AND-logic; the June-7 "disclosure omission" aggravator withdrawn — notice posted May 22 2026, after the Dec 30 2025 disclosure was authored), execution_conflict=8 (pure agency FCM, no prop trading). No caps bind. L3 does NOT fire (one in-window signal; the draft's second signal withdrawn on the corrected timeline). recommend=true (56 ≥ 50). affiliate_url and go_slug nulled — placeholder values removed, no affiliate program exists (D49).

Initial TVSM-BR score (v1.0.1) — composite 59 (Average). AMP Global Clearing LLC (NFA 0412490), US FCM, CME DSRO. D1=7.80: entity_tier=8, license_status=9, supervision_scope=5. D2=1.80: no compensation scheme; scheme_membership=2; excess_insurance=1. D3=6.00: Axis_A=8.357 (segregation_model=8, rehypothecation=9 — explicit zero rehypothecation confirmed verbatim); Axis_B=6 (GH Financials LLC, Advantage Futures LLC, Dorman Trading LLC named as carrying brokers); D3_final=min(8.357,6)=6.00. L2 does not fire: D2=1.80≤2 but D3=6.00>2 — AND condition fails. D4=6.71: regulatory_capital=8 ($17.1M, 17× minimum); operational_history=8 (17 years, same sole member); parent_backing=4 (no institutional parent); client_scale=5 (~1,400 customers). D5=6.92: NBP non-binding; extractive_fees=8. D6=7.25: enforcement_history=8 (clean 5-year window); execution_conflict=8 (pure clearing FCM). recommend=true (score≥50, AB/ON/QC confirmed). affiliate_url=NULL.

Score correction 39 → 49 (2026-06-09). d3_custody_tier corrected rung 1 → 6: D25 lifted after NTC Disclosure Document 2026-05-06 confirmed Dorman Trading LLC and Advantage Futures LLC as carrying brokers. Document explicitly covers Tradovate d/b/a (header names NTC d/b/a NinjaTrader, Kraken Derivatives US and Tradovate). Commercial bank still unnamed generically. D3_final moves from min(6.643,1)=1.00 to min(6.643,6)=6.000; D3 contribution moves from 2.0 to 12.0 pts. L2 cap no longer triggers. All other variables unchanged. recommend=false and affiliate_url=NULL unchanged (score < 50).

Initial TVSM-BR score (v1.0.1) — composite 39 (Below Avg). Tradovate LLC merged into NinjaTrader Clearing LLC (NFA 0309379) November 2024; Tradovate now operates as d/b/a of NTC. NTC is also rated entity for firm_id 89 (NinjaTrader Brokerage); criteria rows identical. D1=6.24, D2=1.00, D3=1.00 (D25 applied), D4=5.36, D5=5.77, D6=5.88. L2 TRIGGERED but NON-BINDING: raw 39.30 < 49 ceiling. recommend=false: Ontario-only, no CIPF. affiliate_url=NULL (score < 50).

Score correction 39 → 49 (2026-06-09). d3_custody_tier corrected rung 1 → 6: D25 lifted after NTC Disclosure Document 2026-05-06 confirmed Dorman Trading LLC and Advantage Futures LLC as current carrying brokers. Prior D25 applied because Aug 2025 PDF was binary/unreadable. Current document supersedes. Commercial bank still unnamed generically. D3_final moves from min(6.643,1)=1.00 to min(6.643,6)=6.000; D3 contribution moves from 2.0 to 12.0 pts. L2 cap no longer triggers. All other variables unchanged. recommend=false and affiliate_url=NULL unchanged (score < 50).

Initial TVSM-BR score (v1.0.1) — composite 39 (Below Avg). NinjaTrader Clearing LLC (NFA 0309379) is the rated entity for both firm_id 89 (NinjaTrader Brokerage) and firm_id 44 (Tradovate); criteria rows identical. D1 = 6.24: CFTC FCM + NFA Tier-1 US registration confirmed, full §4d statutory segregation; supervision_scope = 4 (FCM-only scope vs. full securities dealer); two enforcement actions moderate entity_tier and license_status. D2 = 1.00: no compensation scheme (SIPC excludes futures; no CIPF equivalent); no excess insurance; d2_excess_insurance corrected rung 4 → 1 (CFTC §4d is a D3 custody mechanism, not a D2 investor compensation instrument). D3 = 1.00: D25 applied to d3_custody_tier — current custodian bank not confirmed from Aug 2025 disclosure PDF (binary/unreadable); BMO Harris historically cited but unconfirmed; three verification paths exhausted; D3_final = min(Axis_A 6.643, Axis_B 1) = 1.00. L2 TRIGGERED but NON-BINDING: D2 = 1.00 ≤ 2 AND D3 = 1.00 ≤ 2 → ceiling 49; raw 39.30 < 49 — cap does not bind. D4 = 5.36: Kraken acquisition May 2025 ($1.5B) raises d4_parent_backing to rung 6. D5 = 5.77: NBP ceiling fires (US jurisdiction) but non-binding. D6 = 5.88: d6_enforcement_history = 4 (CFTC Sept 2024 $983K incl. $233K client restitution; NFA May 2025 $250K AML). recommend = false: Ontario-only, no CIPF, entity-mismatch. affiliate_url = NULL (score < 50).

Initial TVSM-BR score (v1.0.1) — composite 76 (Good). Evidence-pack-verified 2026-06-07, editorial rulings finalised 2026-06-08. Key findings: CIRO Investment Dealer + CIPF CAD $1M coverage (strong D1/D2 = 22.50+17.40); D3 = 12.57 dragged by OTC principal model (client positions are contractual obligations of OANDA; cash segregated in chartered bank trust per CIRO Rule 17.2 — no Tier-1 CDS custody); D5 NBP ceiling BINDING (D5_raw 7.462 > 7.0 ceiling — caps D5 to 7.0, costs ~2 composite points; CIRO does not mandate NBP for retail FX); D6 = 5.00 — ownership transparency rung 6 (FTMO Group private parent, two ownership changes in 15 months); enforcement rung 6 (US parent NFA BCC Apr 2021 $200K + May 2025 $600K, both supervisory/process failures, no client-harm; OANDA Canada zero CIRO enforcement); conflict rung 7 (fully disclosed OTC principal model, spread-only compensation). Three L3 stress signals disclosed (no composite cap): (1) FTMO Group acquired OANDA Corporation April 2024; (2) Omus I Inc. CIRO-approved to acquire OANDA Canada July 2025 — second ownership change within 15 months; (3) US parent NFA enforcement in window. Editorial rulings: d3_segregation_model rung 7 confirmed; d6_enforcement_history rung 6 (corrected from draft rung 4); d6_execution_conflict rung 7 (corrected from draft rung 3).

Initial TVSM-BR score (v1.0.1) — composite 76 (Good). Evidence-pack-verified 2026-06-07; NFA enforcement correction applied 2026-06-08. Key findings: CIRO Investment Dealer + CIPF CAD $1M coverage (strong D1/D2 base); StoneX Group (NASDAQ: SNEX) parent (D4=7.5); D3 dragged by d3_rehypothecation rung 3 (principal FX dealer model — client margin used as counterparty capital, no independent CDS custodian) and CIRO trust-account custody (not Tier-1 CSD). D5 raw 6.154 below NBP ceiling (fires but non-binding — disclose per §10). D6 enforcement: NFA Dec 8 2022 $700K fine against GAIN Capital Group LLC — negatively adjusted 17 retail customer accounts by ~$2.84M to recover own platform-malfunction loss; rung 4 (client-harm, trailing 60mo, resolved). StoneX Markets LLC (separate subsidiary) NFA $1M (Jan 2023) + CFTC $650K (Sep 2023) attributed at group level, two degrees removed. Editorial rulings: R1 d2_excess_insurance rung 6 (gap-fix); R2 d3_rehypothecation rung 3 (principal FX dealer, confirmed); R3 recommend=true; R4 d6_enforcement_history rung 4 (Dec 2022 NFA client-harm $700K, 17 customers).

Initial TVSM-BR score (v1.0.1) — composite 79 (Good). Evidence-pack-verified 2026-06-07; corrections applied 2026-06-08. Entity formerly OTT Financial Canada Inc., renamed June 29, 2023; CIPF membership active since May 17, 2023. Carrying broker identified 2026-06-08: Canaccord Genuity Corp. (effective September 22, 2025; prior carrier Interactive Brokers Canada Inc.) — named CIRO Investment Dealer, direct CDS participant. Key findings: CIRO Investment Dealer + CIPF CAD $1M coverage (strong D1/D2 base); CDS custody through Canaccord Genuity Corp. confirmed (d3_custody_tier rung 9, d3_seg rung 9). D5 NBP ceiling FIRES AND BINDS (Canada jurisdiction → nbp_absent_nonmandated=true; raw 7.846 > 7.0 → D5_final=7.0). L3 fires (disclosure only): (1) recent_relicensing — CIRO membership 2023, young entity; (2) sibling_enforcement — Moomoo Financial Inc. (US, FINRA) enforcement in trailing window. Editorial rulings: R1 d2_excess_insurance rung 6 (gap-fix, no excess on strong CIPF base); R2 d3_rehypothecation rung 7 (Canaccord Genuity margin lending, set-aside not independently published); R3 d3_custody_tier rung 9 (CDS via named Canaccord Genuity); R4 recommend=true; R5 d6_enforcement_history rung 6 (Canadian entity clean — sibling enforcement captured in L3, no double-count); R6 d6_execution_conflict rung 6 (CIRO PFOF prohibition + named carrier; no positive evidence of undisclosed conflict).

Initial TVSM-BR score (v1.0.1) — composite 85 (Excellent). Evidence-pack-verified 2026-06-07; NBP ceiling correction applied 2026-06-08. Key findings: Tier-1 Canadian CSD custody (CDS/DTCC, rung 10 Axis B); 40-year operational history; Tier-1 bank parent (TD Bank Group, CET1 14.7%); Canada's largest self-directed brokerage by AUM. D5 NBP ceiling fires and binds (Canada jurisdiction → nbp_absent_nonmandated=true; raw 8.46 > 7.0 → D5_final=7.0). D3 drag: Axis A governed by rehypothecation rung 6 — no explicit ≥103% daily set-aside in public disclosure. L3 stress flags active (2 signals): parent_distress_adjacent (TD Bank N.A. DOJ AML Oct 2024, US subsidiary only) + recent_regulatory_change (DOJ consent order asset cap). Both disclosure-only — do not cap composite. Editorial rulings: R1 d2_excess_insurance rung 6 (D2C gap-fix, no excess on strong CIPF base); R2 d3_rehypothecation rung 6 (margin disclosure lacks explicit set-aside language); R3 d6_enforcement_history rung 6 (2018 $140K + 2020 $4M IIROC, both resolved, no client-asset loss).

Initial TVSM-BR score (v1.0.1) — composite 81/Excellent. tastytrade Canada Inc. resigned CIRO 18 Jun 2025; no Canadian onboarding; recommend=false. D5 NBP ceiling binds (US non-mandating; raw D5 8.154 -> 7.0). D3 drag: Apex Clearing FPLP AWC (Feb 2025, $3.2M, ~$18M adverse tax remediation); custody tier 7 per R3. D6: two FINRA AWCs ($30K Nov 2024 + $200K May 2026), both supervisory (FINRA No on fraud); rung 6 per R2. d2_coverage_limit corrected 10->8 (SIPC categorised structure, consistent with Schwab).

Initial TVSM-BR score (v1.0.1) — composite 86, reference benchmark only. Schwab does not accept Canadian residents per international.schwab.com/open-account-intro/restrict (verified 2026-06-02). recommend=false. D5 NBP ceiling BINDS (US non-mandated; raw D5 9.08 → 7.0). Largest drag D6 enforcement: 2022 SEC $187M Schwab Intelligent Portfolios settlement, rung 4, no client-asset shortfall.

Initial TVSM-BR score (v1.0.1) — composite 84 (corrected from 87). Engine applies NBP ceiling to D5 for all Canadian-jurisdiction brokers (Canada is in NON_NBP_MANDATING_JURISDICTIONS set): D5 raw 9.15 capped to 7.0, composite impact -2.8 points. Same ceiling fires for IBKR Canada. Original SQL hand-math wrongly assumed no D5 ceiling. Two conservative editorial rulings retained: d3_rehypothecation rung 6 (lacks explicit >=103% daily set-aside language; ambiguity principle) and d6_enforcement_history rung 6 (all CIRO/IIROC actions >12yr, none trailing 60mo, no client-asset loss). d2_excess_insurance rung 10 (Lloyd's CAD $10M, ALL clients).

Initial TVSM-BR score (v1.0.1). No prior framework — composite_before=0 is a sentinel for first-time scoring under TVSM-BR; brokerages carried no published composite under D39.

TVSM-PL/1.0 first-time scoring. Composite 75.70. Strong band. Class-leading D2 Execution (17.30/22) and D3 Capability (16.90/20): 90+ order types/algos, mature 20-year TWS API (Python/Java/C++/C#/VB), 150+ markets in 33 countries. Bounded above by uniquely-low Interoperability (6.70/12) — Closed-tier broker ecosystem (4.1=2, IBKR self-clearing) costs ~2.8 composite points vs Extensive-tier (rung 9). Honest workflow-friction score (3.2=6) under "competent user under reference load" guard. All caps clear; OFAC July 2025 sev-3 within trailing 12mo, partially decayed.

TVSM-PL/1.0 first calibration. BASE 48.80, trajectory -1 (recent UI-update regressions 2025-26 + slow vendor response to community pattern), composite 47.80. Caution band. White-label B2B platform deployed by 160+ brokers/prop firms. Lag/UI complaints span ≥3 broker infrastructures (FundedNext, FundingPips, E8 Markets) — A11 attribution established. Sits one variable shy of PL-Cap 3 (2 of 4 stress signals at ≤4). All caps clear.

TVSM-PL/1.0 rescore — Tier-1 calibration. Composite 71.60. Strong band. Best-in-class retail options analytics (3.1=10, Analyze tab is retail gold standard) carries D3. Free + transparent pricing (D5 = 15.30/16). Closed broker ecosystem (4.1=2, Schwab self-clearing) and recurring 2025 outage cluster keep D1+D4 from lifting higher. 2023 TDA→Schwab migration largely decayed for 12mo ladders; partially contributes to vendor_incident_record sev-3 (24mo decay). All caps clear.

TVSM-PL/1.0 rescore — Tier-1 calibration. Composite 60.40. Adequate band. Best-in-class Elliott Wave depth (3.1=10) per anti-generalist-bias guard. v7 regression cycle (workspace destruction in 7.0.13 pulled by vendor; VI/TPO/custom-study break in 7.0.12) drags D1 to 12.70/30. PL-Cap 3 evaluated and does NOT fire — only 2 of 4 stress signals (1.1=4, 1.3=3; 1.2=5 and 5.3=8 above threshold). All caps clear.

TVSM-PL/1.0 rescore — Tier-1 calibration. Composite 66.80. Strong band. EL-compatibility + broker breadth (60+ brokers/data providers) properly credited under TVSM-PL weights vs retired Platforms-v1.0. MC14 launch noise still in 90d window but MC15 cycle stabilizing (GDI leak fix Release 16, IB plug-in regression restored). Windows-only single-environment (4.3=2) is honest measurement, not penalty. All caps clear.

TVSM-PL/1.0 rescore — Tier-1 calibration. Composite 70.50. Strong band. Self-clearing broker-platform — closed broker ecosystem (4.1=2) is the load-bearing differentiator from broker-agnostic peers. Mature EasyLanguage + RadarScreen + TradingApp Store. Update 89/90/91 regression cycle drags 1.3 to 5 — one click from PL-Cap 3 surface but does not fire (0/4 stress signals). All caps clear.

TVSM-PL/1.0 rescore — Tier-1 calibration confirms Section-10 worked-exemplar reference (76.0) within noise. Composite 75.80 BASE + 0 trajectory. Strong band. Material refinement: 5.3 pricing_stability dropped from 7 to 6 to reflect the April-2026 across-the-board price increase as the second material increase in trailing 24mo. PL-Cap 1/2/3/4 all clear.

TVSM-PL/1.0 first-time scoring. BASE 63.30, trajectory -1 (recurring regulatory pattern trailing 24mo: FINRA $3M Mar 2023, SEC $125K Nov 2024, FINRA $1.6M May 2025), composite 62.30. Adequate band. Consumer-grade mobile-first broker-platform. Q2 2025 OpenAPI launch is material capability event (3.3 lifts from minimal to 6). Strengths: zero-commission cost (5.1=9), cross-platform parity (4.3=8), broad markets (3.4=8). Weaknesses: closed Apex clearer (4.1=2), no public status/changelog (1.5=4, 1.6=4). All caps clear.

TVSM-PL v1.0 Tier 3 historical anchor — AI-Signal SaaS (Defunct Anchor).

TVSM-PL v1.0 Tier 3 historical anchor — TradeStation Web (2016–2018 Anchor).

TVSM-PL v1.0 Tier 3 historical anchor — MT4 (Full EOL Anchor).

TVSM-PL v1.0 Tier 3 historical anchor — Abandoned Platform (PL-Cap 4 Anchor).

TVSM-PL v1.0 Tier-1 calibration (analysis_platform)

TVSM-PL v1.0 Tier-1 calibration

TVSM-PL v1.0 Tier-1 calibration

TVSM-PL v1.0 Tier-1 calibration

TVSM-PL v1.0 Tier-1 calibration

TVSM-PL v1.0 Tier-1 calibration

TVSM-PL v1.0 Tier-1 calibration

TVSM-PL v1.0 Tier-1 calibration — initial scoring (no prior score). composite_before=0 is a schema placeholder per NOT NULL constraint.

TVSM-PL v1.0 Tier-1 calibration — full 22-variable scorecard against sourced evidence per A6/A7/A11.

TVSM-PL v1.0 Tier-1 calibration — full 22-variable rescore against sourced evidence per A6/A7/A11.

TVSM-PF v2.0.2 rescore — drawdown_model evidence sourced manually

TVSM-PF v2.0.2 rescore — drawdown_model evidence sourced manually

TVSM-PF v2.0.2 rescore — drawdown_model evidence sourced manually

TVSM-PF v2.0.2 rescore — drawdown_model evidence sourced manually

TVSM-PF v2.0.2 rescore: composite recomputed under v2.0.2 weights with phase 3 evidence pass; pricing_honesty deferred (no price_history 90d window); drawdown_model evidence carried per Step 3 final coverage.

TVSM-PF v2.0.2 rescore: composite recomputed under v2.0.2 weights with phase 3 evidence pass; pricing_honesty deferred (no price_history 90d window); drawdown_model evidence carried per Step 3 final coverage.

TVSM-PF v2.0.2 rescore: composite recomputed under v2.0.2 weights with phase 3 evidence pass; pricing_honesty deferred (no price_history 90d window); drawdown_model evidence carried per Step 3 final coverage.

TVSM-PF v2.0.2 rescore: composite recomputed under v2.0.2 weights with phase 3 evidence pass; pricing_honesty deferred (no price_history 90d window); drawdown_model evidence carried per Step 3 final coverage.

TVSM-PF v2.0.2 rescore: composite recomputed under v2.0.2 weights with phase 3 evidence pass; pricing_honesty deferred (no price_history 90d window); drawdown_model evidence carried per Step 3 final coverage.

TVSM-PF v2.0.2 rescore: composite recomputed under v2.0.2 weights with phase 3 evidence pass; pricing_honesty deferred (no price_history 90d window); drawdown_model evidence carried per Step 3 final coverage.

TVSM-PF v2.0.2 rescore: composite recomputed under v2.0.2 weights with phase 3 evidence pass; pricing_honesty deferred (no price_history 90d window); drawdown_model evidence carried per Step 3 final coverage.

TVSM-PF v2.0.2 rescore: composite recomputed under v2.0.2 weights with phase 3 evidence pass; pricing_honesty deferred (no price_history 90d window); drawdown_model evidence carried per Step 3 final coverage.

TVSM-PF v2.0.2 rescore: composite recomputed under v2.0.2 weights with phase 3 evidence pass; pricing_honesty deferred (no price_history 90d window); drawdown_model evidence carried per Step 3 final coverage.

TVSM-PF v2.0.2 rescore: composite recomputed under v2.0.2 weights with phase 3 evidence pass; pricing_honesty deferred (no price_history 90d window); drawdown_model evidence carried per Step 3 final coverage.

TVSM-PF v2.0.2 rescore: composite recomputed under v2.0.2 weights with phase 3 evidence pass; pricing_honesty deferred (no price_history 90d window); drawdown_model evidence carried per Step 3 final coverage.

TVSM-PF v2.0.2 rescore: composite recomputed under v2.0.2 weights with phase 3 evidence pass; pricing_honesty deferred (no price_history 90d window); drawdown_model evidence carried per Step 3 final coverage.

TVSM-PF v2.0.2 rescore: composite recomputed under v2.0.2 weights with phase 3 evidence pass; pricing_honesty deferred (no price_history 90d window); drawdown_model evidence carried per Step 3 final coverage.

TVSM-PF v2.0.2 rescore: composite recomputed under v2.0.2 weights with phase 3 evidence pass; pricing_honesty deferred (no price_history 90d window); drawdown_model evidence carried per Step 3 final coverage.

TVSM-PF v2.0.2 rescore: composite recomputed under v2.0.2 weights with phase 3 evidence pass; pricing_honesty deferred (no price_history 90d window); drawdown_model evidence carried per Step 3 final coverage.

TVSM-PF v2.0.2 rescore: composite recomputed under v2.0.2 weights with phase 3 evidence pass; pricing_honesty deferred (no price_history 90d window); drawdown_model evidence carried per Step 3 final coverage.

TVSM-PF v2.0.2 rescore: composite recomputed under v2.0.2 weights with phase 3 evidence pass; pricing_honesty deferred (no price_history 90d window); drawdown_model evidence carried per Step 3 final coverage.

TVSM-PF v2.0.2 rescore: composite recomputed under v2.0.2 weights with phase 3 evidence pass; pricing_honesty deferred (no price_history 90d window); drawdown_model evidence carried per Step 3 final coverage.

TVSM-PF v2.0.2 rescore: composite recomputed under v2.0.2 weights with phase 3 evidence pass; pricing_honesty deferred (no price_history 90d window); drawdown_model evidence carried per Step 3 final coverage.

TVSM-PF v2.0.2 rescore: composite recomputed under v2.0.2 weights with phase 3 evidence pass; pricing_honesty deferred (no price_history 90d window); drawdown_model evidence carried per Step 3 final coverage.

TVSM-PF v2.0.2 rescore: composite recomputed under v2.0.2 weights with phase 3 evidence pass; pricing_honesty deferred (no price_history 90d window); drawdown_model evidence carried per Step 3 final coverage.

TVSM-PF v2.0.2 rescore: composite recomputed under v2.0.2 weights with phase 3 evidence pass; pricing_honesty deferred (no price_history 90d window); drawdown_model evidence carried per Step 3 final coverage.

TVSM-PF v2.0.2 rescore: composite recomputed under v2.0.2 weights with phase 3 evidence pass; pricing_honesty deferred (no price_history 90d window); drawdown_model evidence carried per Step 3 final coverage.

TVSM-PF v2.0.2 rescore: composite recomputed under v2.0.2 weights with phase 3 evidence pass; pricing_honesty deferred (no price_history 90d window); drawdown_model evidence carried per Step 3 final coverage.

TVSM-PF v2.0.2 rescore: composite recomputed under v2.0.2 weights with phase 3 evidence pass; pricing_honesty deferred (no price_history 90d window); drawdown_model evidence carried per Step 3 final coverage.

TVSM-PF v2.0.2 rescore: composite recomputed under v2.0.2 weights with phase 3 evidence pass; pricing_honesty deferred (no price_history 90d window); drawdown_model evidence carried per Step 3 final coverage.

Initial score — methodology v1.0 platforms / v1.2 brokerages

Initial score — methodology v1.0 platforms / v1.2 brokerages

Initial score — methodology v1.0 platforms / v1.2 brokerages

Initial score — methodology v1.0 platforms / v1.2 brokerages

Initial score — methodology v1.0 platforms / v1.2 brokerages

Initial score — methodology v1.0 platforms / v1.2 brokerages

Initial score — methodology v1.0 platforms / v1.2 brokerages

Initial score — methodology v1.0 platforms / v1.2 brokerages

Initial score — methodology v1.0 platforms / v1.2 brokerages

Initial score — methodology v1.0 platforms / v1.2 brokerages

Initial score — methodology v1.0 platforms / v1.2 brokerages

Initial score — methodology v1.0 platforms / v1.2 brokerages

Initial score — methodology v1.0 platforms / v1.2 brokerages

Initial score — methodology v1.0 platforms / v1.2 brokerages

Initial score — methodology v1.0 platforms / v1.2 brokerages

Initial score — methodology v1.0 platforms / v1.2 brokerages

Initial score — methodology v1.0 platforms / v1.2 brokerages

Initial score — methodology v1.0 platforms / v1.2 brokerages

Initial score — methodology v1.0 platforms / v1.2 brokerages

Initial score — methodology v1.0 platforms / v1.2 brokerages

Initial score — methodology v1.0 platforms / v1.2 brokerages

Initial score — methodology v1.0 platforms / v1.2 brokerages

Initial score — methodology v1.0 platforms / v1.2 brokerages

Initial score — methodology v1.0 journals

Initial score — methodology v1.0 journals

Initial score — methodology v1.0 journals

Initial score — methodology v1.0 journals

Initial score — methodology v1.0 journals

Initial score — methodology v1.0 journals

Initial score — methodology v1.0 journals

Initial score — methodology v1.0 journals

Initial score — methodology v1.0 journals

Initial score — methodology v1.0 journals

Score recalibrated to formula — display value was hardcoded, now computed from criteria rows. Methodology v1.0.2.

Score recalibrated to formula — display value was hardcoded, now computed from criteria rows. Methodology v1.0.2.

Score recalibrated to formula — display value was hardcoded, now computed from criteria rows. Methodology v1.0.2.

Initial research score. Reference account: $50K Two-Step. No hard caps. Trustpilot 4.5/5 across 1,000+ reviews; founder Somesh Kapuria publicly named; Deloitte independent review reinforces transparency. 1-hour payout claim verified by community. Methodology v1.0.2.

Initial research score. Reference account: LucidPro $50K. No hard caps. Trustpilot 4.8/5; founder AJ Campanella publicly active; LucidLive split lifted from 80/20 to 90/10 in March 2026 (positive change for traders). Short 1-year operating history is the primary weakness. Methodology v1.0.2.

Initial research score. Reference account: $50K (mid-tier of $50K/$100K/$150K). No hard caps. Trustpilot 4.6/5 across 1,219 reviews; founded 2020 by James Thorpe and Steve Miley (ex-Mercury Derivatives, ex-Merrill Lynch / Credit Suisse). Methodology v1.0.2.

Initial research score. Reference account: $50K Two-Phase. No hard caps. Trustpilot 4.3/5 across 4,000+ reviews; broker-backed (FXPIG partner). Mixed reviews on payout disputes offset by strong platform breadth and competitive entry pricing. Methodology v1.0.2.

Initial research score. Reference account: $50K PRO. No hard caps but score reflects WikiFX 1.30/10, BBB complaint volume, and March 2026 reviewer reversal on recommendation. Methodology v1.0.2.

Initial research score. Reference account: $50K Standard. No hard caps. Trustpilot 4.9/5 across 3,600 reviews; 92% response rate to negatives. Founded July 2024 — short track record offsets strong execution. Methodology v1.0.2.

Initial research score. Reference account: $50K Core (entry-tier most popular). No hard caps. Trustpilot 4.9/5 across 11,000+ reviews; CEO Matthew Leech publicly named. Late-2025 plan revamp (Core/Scale/Rapid) communicated in advance. Methodology v1.0.2.

Initial research score. Reference account: $50K (mid-tier of $25K–$250K range). No hard caps. Trustpilot 4.7/5 across 2,448 reviews; long-running futures-only firm. Methodology v1.0.2.

Initial research score. Reference account: $50K Growth (most commonly purchased per QuantVPS roundup). No hard caps. Founder Brett Simba; $100M+ paid to traders cited by firm as of April 2026; Trustpilot 4.7/5 across 2,549 reviews. Methodology v1.0.2.

Initial research score. Reference account: TCP25 ($25K Live, scaling). No hard caps. Trustpilot 4.7/5 across 4,693 reviews; one of the longest-tenured futures prop firms, founded 2016. Methodology v1.0.2.

Initial platform score. Methodology v1.0.2. Strengths: free with Schwab account, industry-leading options analytics, public Schwab parent, 27-year track record. Minor flag: 2024 TD→Schwab migration caused brief disruptions, fully resolved.

Methodology correction: drawdown_model corrected from 5 to 7. EOD trailing on closed balance matches score 7 per rubric. Apex scored identically for same model type.

Initial brokerage score. Methodology v1.0.2. Tradovate, LLC scored as a brokerage entity (NFA #0467553) distinct from the Tradovate platform record. Strengths: public parent (Kraken), 11-year operational history, broad prop firm adoption, transparent subscription pricing. Trade-offs: two ownership changes within 4 years cap tos_stability, futures-only scope, no Canadian access, shared infrastructure risk during prop firm volume spikes (TopstepX outages 2025-2026).

Initial brokerage score. Methodology v1.0.2. Strengths: ASIC tier-1 regulation, 16-year track record, exceptional execution transparency (trade receipts), industry-leading fast withdrawal reputation. Trade-offs: MT4/MT5 platforms only, no Canadian access, privately held caps full transparency.

Initial brokerage score. Methodology v1.0.2. Strengths: 38-year track record (one of longest-running US futures brokers), NFA Five Star rating, broad platform selection, family-owned continuity. Trade-offs: commissions less aggressive than AMP/Optimus headline rates, less cleanly published pricing, no CIPF.

Initial brokerage score. Methodology v1.0.2. Strengths: 19-year FCM track record, direct CME clearing, competitive commissions. Trade-offs: shared infrastructure stress events affecting prop-firm-cleared accounts (not direct retail), futures-only, privately held.

Initial brokerage score. Methodology v1.0.2. Strengths: 16-year track record, lowest day-trading margins in retail futures, broadest platform selection (50+), competitive commissions. Trade-offs: privately held caps transparency, futures/FX-only (no equities), no CIPF.

Initial brokerage score. Methodology v1.0.2. Strengths: best-in-class options pricing (capped commissions), IG Group public parent, strong founder transparency, dedicated options platform. Trade-offs: 9-year operating history shorter than peers, no Canadian access, options/derivatives-focused (less broad than Schwab/IBKR for equity-only traders).

Initial brokerage score. Methodology v1.0.2. Strengths: 55-year track record, NYSE public, $9T AUM, $0 commissions, thinkorswim integration. Trade-offs: PFOF on retail equity, no Canadian access (CIPF non-member), 2024 TD integration caused transition disruptions for some user cohorts.

Initial score for historical/redirect record. TD Ameritrade brand fully sunset May 2024 with completion of Schwab integration. Not a Level 4 removal (voluntary merger, no payout halt or fraud). Scored Average with recommend=false to direct users to Charles Schwab entry. thinkorswim platform survives under Schwab and is scored separately.

Initial brokerage score. Methodology v1.0.2. Strengths: 47-year track record, NASDAQ public, tier-1 global regulation, industry-best execution and platform breadth. Suitable for Canadian traders (CIRO + CIPF). No material weaknesses.

Initial platform score. Methodology v1.0.2. Strengths: most powerful retail platform available, public NASDAQ parent, tier-1 global regulation, 31-year operational track record, industry-best execution. Trade-offs: complex commission structure, learning curve unsuitable for casual traders.

Initial platform score. Methodology v1.0.2. Strengths: free commissions, modern mobile platform, public listing (Nasdaq: BULL). Trade-offs: PFOF execution variability, brief platform stress events, less depth than institutional peers.

Initial platform score. Methodology v1.0.2. Strengths: 44-year track record, public Monex parent, EasyLanguage pioneer, multi-asset depth. Minor flags: occasional platform freezes during extreme volatility.

Initial platform score. Methodology v1.0.2. Strengths: 23-year track record, EasyLanguage compatibility, deep backtesting. Trade-offs: high upfront cost ($1,497 lifetime), Russia-based ownership reduces financial transparency score, hardware requirements demanding.

Initial platform score. Methodology v1.0.2. Strengths: 30-year track record, exceptional stability/reliability, low monthly cost, deep customization. Trade-offs: Windows-only native, dated UI requires investment to learn, ownership less transparent than public peers.

Initial platform score. Methodology v1.0.2. Strengths: industry-standard order routing infrastructure, 24-year track record, sub-ms execution. Weaknesses: dated end-user UI, ownership opaque vs. publicly traded peers.

Initial platform score. Cloud-native futures platform widely used by prop firms. Strengths: zero-install, cross-device, broad prop firm adoption. Caveats: futures-only scope, two recent ownership transitions, shared infrastructure risk during prop firm volume spikes.

Initial platform score. Methodology v1.0.2. Reference: NinjaTrader 8 + brokerage. Strengths: 23-year track record, dominant futures platform, lifetime license option. Caveat: Kraken acquisition May 2025 caps tos_stability at 7 pending 12+ months of post-acquisition stability.

Initial platform score. Methodology v1.0.2 applied to platform category. Most variables related to prop firm payout/rules score 10 (N/A — no adverse condition imposed by platform). Strengths: 15-year track record, 100M+ users, broadest broker integration, transparent ownership. Affiliate URL preserved from existing assignment.

Initial brokerage score. Methodology v1.0.2. Strengths: 24-year track record, competitive commissions, broad platform selection, low day-trading margins. Trade-offs: futures-only, privately held, no CIPF for Canadian clients.

Initial research score. Seeded 67 corrected to 76 after full variable research. Key upgrades: payout_split 9 (100% first $25K — best in futures peer group), platform_quality 8 (NinjaTrader + Tradovate vs TopstepX-only), execution_quality 7 (no documented failures), challenge_fee 8 (one-time model, no subscription). 4.0 program overhaul March 2026 materially improved trader terms. Reference account: $100K EOD. Methodology v1.0.1.

Initial research score. Corrected payout_split from seeded 90% assumption to verified 80% standard. Canada removed from blocked countries — Canadians accepted. Methodology v1.0.1 normalization applied (raw 82.1 / 97 * 100 = 85). Financial_transparency weight updated to 9% per methodology fix.

Initial research score. New firm entry (not in seed data). No hard caps triggered. Key flags: company_age=5 (founded 2022, ~3 years); news_trading=6 (restricted on funded, partially disclosed). Methodology v1.0.2.

Initial research score. New firm entry (not in seed data). No hard caps triggered. Key flags: financial_transparency=5 (team not publicly named), news_trading=5 (funded account restrictions). Methodology v1.0.2.

Initial research score. Level 2 hard cap TRIGGERED (suspension_history=1 → cap=49). Raw display 41 < 49, cap does not bind. Key flags: payout_speed=1 (no payouts since Aug 2023), payout_consistency=1, fee_refundable=1 (fees not returned). CFTC case dismissed May 2025 — NOT a Level 4 removal. Firm communicating relaunch plans but non-operational. recommend=false, affiliate_url=null. Methodology v1.0.2.

Initial research score replacing test seed value. No Level 2 cap triggered (suspension_history=3, cap requires ≤2). Key flags: 2023 MetaQuotes suspension, trailing drawdown model, payout speed=3 (backlog), rule_consistency=3 (post-suspension enforcement), financial_transparency=4 (anonymous founders). recommend=false per scoring rules (score < 50). affiliate_url nulled. Methodology v1.0.2.

Initial research score. Seeded 70 corrected to 65 after full variable research. Key downgrades: payout_cap cut to $2,000/payout on Apr 28 2026 (score 3), TopstepX platform outages late 2025 (platform_quality 4, execution_quality 4), three unfavorable rule changes in 4 months (tos_stability 4), subscription fee not refundable (fee_refundable 3), trailing EOD drawdown model (drawdown_model 5). Methodology v1.0.1.

Opacity penalty score. All 16 variables scored 1 (Undisclosed — maximum risk) per methodology rule: missing data = score 1. No verifiable corporate information, community presence, or trading rules found during April 2026 research. Raw 9.7 / 97 = 10.0. Poor. Research Only label applied (score < 35). recommend=false, affiliate_url=null. Methodology v1.0.2.

Initial research score replacing test seed value. Key flags: payout_split=6 (80% first payout, 90% only post-scaling plan); tos_stability=5 (March 2024 Stellar 2-Step rebrand with rule changes); platform_quality=6 (MT4/MT5/cTrader, no DXtrade). No hard caps triggered. Methodology v1.0.2.

Initial research score. New firm entry (not in seed data). No hard caps triggered. Key flags: financial_transparency=4 (anonymous ownership); company_age=4 (2–3 years, short track record); drawdown_model=6 (trailing). Low data volume — scores reflect available evidence with appropriate uncertainty discounts. Methodology v1.0.2.

Initial research score. New firm entry (not in seed data). No hard caps triggered. Key strengths: Austrian registration (EU accountability), named leadership, competitive fees (challenge_fee=8), clean 4-year record. Methodology v1.0.2.

Initial research score. New firm entry (not in seed data). No hard caps triggered. Key flags: challenge_fee=5 (above-average pricing, $650–$800 for $100K); payout_speed=7 (2–4 business days, slower than fast peers). Methodology v1.0.2.

Initial research score. New firm entry (not in seed data). No hard caps triggered. Key strengths: 6+ year clean record, rule_consistency=8, tos_stability=9, financial_transparency=7 (named leadership). Key flags: platform_quality=6 (MT4/MT5 only). Methodology v1.0.2.

Initial research score. New firm entry (not in seed data). No hard caps triggered. Key flags: news_trading=5 (funded restrictions); execution_quality=6 (standard, no issues). Methodology v1.0.2.

Initial research score. New firm entry (not in seed data). No hard caps triggered. Key flags: payout_consistency=6 (some challenge disputes in reviews); news_trading=6 (documented restriction but better than zero-tolerance peers); financial_transparency=6 (Companies House registration + partial leadership). Methodology v1.0.2.

Initial research score. New firm entry (not in seed data). No hard caps triggered. Key flags: financial_transparency=5 (undisclosed jurisdiction); company_age=5 (2–3 years, short track record); payout_consistency=6 (limited review volume). Methodology v1.0.2.

Initial research score. New firm entry (not in seed data). No hard caps triggered. Key flags: financial_transparency=4 (anonymous leadership), rule_consistency=5 (limited data volume for high-confidence assessment). Methodology v1.0.2.

Initial research score. New firm entry (not in seed data). No hard caps triggered. Key strengths: payout_split=9 (80–90% split, All In program), suspension_history=10 (5-year clean record), flexible drawdown model. Key flags: fee_refundable=5 (inconsistent across programs); financial_transparency=5 (limited disclosure). Methodology v1.0.2.

Initial research score. New firm entry (not in seed data). No Level 2 cap triggered (suspension_history=4). Key flags: financial_transparency=3 (anonymous ownership), payout_consistency=2, fee_refundable=2, rule_consistency=3. recommend=false per scoring rules (score < 50). affiliate_url nulled. Methodology v1.0.2.

Initial research score. New firm entry (not in seed data). No hard caps triggered. Key flags: news_trading=5 (standard funded restrictions); financial_transparency=6 (UK-registered, partial team visibility). Methodology v1.0.2.

Initial research score. New firm entry (not in seed data). No hard caps triggered. Key strengths: 10-year clean record (suspension_history=10, tos_stability=9), exceptional payout consistency (4.7/5 Trustpilot), static drawdown model (score 9). Key flags: platform_quality=6 (MT4/MT5 only, no cTrader/DXtrade). Methodology v1.0.2.

Initial score — methodology v1.0. Suspension history hard cap applied (max 49).

Initial score — methodology v1.0

Initial score — methodology v1.0

Initial score — methodology v1.0

Initial score — methodology v1.0