Evaluation Structures — 1-Phase, 2-Phase & Instant Funding Compared.

Selecting Your Evaluation Channel

Prop firms offer multiple challenge structures. Choosing the right one depends on your trading style, risk tolerance, and timeframe. We compare the three primary models.

1. Two-Phase Evaluation (Standard)

The industry benchmark. Phase 1 requires a 8-10% profit target with a 5% daily / 10% max loss limit, usually in 30 days. Phase 2 requires a 5% profit target under the same risk limits in 60 days. This offers the best value and lowest fees.

2. One-Phase Evaluation (Speed)

Requires a single phase to get funded, but carries stricter rules. The profit target is typically 10%, and the maximum drawdown is often trailing rather than static. Trailing drawdown moves up with your account balance, locking in profits and narrowing your margin of error.

3. Instant Funding (No Exam)

You bypass the evaluation entirely and manage funded capital immediately. However, the registration fees are significantly higher, the leverage is heavily restricted, and the profit split starts much lower (typically 50%).