The structured evaluation program (profit target + drawdown/rules) required to get funded.
Understanding Challenge is crucial for success in passing a prop firm evaluation and maintaining a funded account. Different firms may have slightly different rules or implementations for this concept. Always check the specific firm's rules before trading.
A firm that provides traders capital to trade, usually via an evaluation or direct funding model.
An account a trader receives after meeting requirements, eligible for payouts under firm rules.
A testing stage where you must hit targets while following risk rules to qualify for funding.
Evaluation with one phase instead of a multi-step process.
Evaluation requiring two phases (often “challenge” + “verification”).
A follow-up phase that confirms consistency after passing phase 1.
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