A one-step evaluation has a single target, usually higher; a two-step splits it into a challenge and a verification phase with a lower second target. Time limits have largely disappeared, minimum trading days have not. Instant funding skips the evaluation entirely in exchange for tighter limits and a lower split.
Evaluation
Evaluation
The paid test a firm sets before granting a funded account. You pay a one-off fee, hit a profit target without breaching the loss limits, and receive an account to trade.
How firms apply it
What it means for your trading
The published pass rates in this industry sit in single digits to low double digits. Budget the fee as tuition rather than as an investment, and choose the rulebook you can actually follow rather than the cheapest entry.
Which firms use it
Work this out for your account
What a funded account really costs after failed attempts and fees.
Related terms