How it works
The path from buying a challenge to getting paid: buy, trade and pass, get funded, withdraw your share.
The whole model is four steps: buy a challenge, trade a simulated account and hit its profit target within the risk limits, pass to a funded account, and withdraw your profit share. Every account along the way is paper, priced on the live market, so there is no personal capital at risk at any step.
1. Buy a challenge
Pick an account size and an evaluation type on the Challenges page and check out. It is a one-time fee, with no subscription. Your simulated evaluation account is provisioned right after payment, and you can start trading it immediately.
2. Trade and hit the target
Trade the account in the terminal, on live prices, and reach the profit target for your evaluation type. You have to do it without breaking the risk limits, a daily loss limit and a maximum drawdown that protect the account. There is no time pressure: what ends a phase is hitting the target or breaking a limit, nothing else.
For the exact limits and precisely how they are measured, see the Rules, which reads its values straight from the live risk engine. A detailed Trading rules guide is coming to these docs.
The evaluation types at a glance
There are 3 evaluation types. They differ in how many phases you trade and the profit target you need; all fund at the same profit split.
| Evaluation | Phases | Profit target | Profit split |
|---|---|---|---|
| Hyper | 1 phase | +10% | 80% |
| 1-Step | 1 phase | +10% | 80% |
| 2-Step | 2 phases | +6%, then +10% | 80% |
A single-phase type (Hyper or 1-Step) funds you the moment you hit its target. The 2-Step splits the target across two phases: clear phase 1, then clear phase 2 to get funded. See Browse the challenges for the sizes and prices of each.
3. Get funded
Pass, and you move to a funded account. It is still a simulated account on live prices, and the same risk limits apply, but now every profit you make is real money to you: you keep your profit share of it.
4. Get paid
On a funded account you withdraw your share of realized profit in USDC to a wallet you have whitelisted. The minimum payout is $50. Payouts and the checks around them (identity verification, two-factor, the new-wallet hold) are covered in Payouts and withdrawals in the Rules.
No time limit, no minimum days
You can pass in a single day or over a month, in one trade or a hundred. There is no deadline and no minimum number of trading days. The only things that end a phase are hitting the target or breaking a risk limit.
After you're funded
A funded account keeps 80% of the profit for you, with none of your own capital at stake. It trades under the same risk limits as the evaluation, so the discipline that passed you is the same discipline that keeps the account. You withdraw on request, above your previous high-water mark, so the same profit is never paid twice.