Evaluation: definition and what it changes
An evaluation, or challenge, is the paid test on a simulated account that a trader must pass to obtain a funded account: reaching a profit target without crossing the loss thresholds.
Updated 15 September 2026Of the 62 evaluation programs we track, 60 are concerned: they include at least one evaluation phase. Recomputed from the records on 20 September 2026.
How it unfolds
The trader buys access to a simulated account of a given size and must reach a profit target, often 6 to 10% of nominal capital, without breaching the maximum drawdown or the daily loss. Formats are counted in phases: a single test, two successive tests with a lower target on the second, or three at some forex firms.
The fee is paid once, sometimes with reset fees to start again after a failure, sometimes as a monthly subscription for as long as the evaluation lasts. Some firms refund the fee at the first payout, which changes the real cost and is worth reading before comparing two prices.
What the failure rate actually covers
Most evaluations bought are not passed, and it is not only a matter of skill: the profit target, the drawdown and the deadline form a system whose difficulty varies a great deal between firms. An 8% target with an intraday trailing drawdown does not carry the same risk profile as an 8% target with a static drawdown and no time limit.
What to check before buying
The ratio between profit target and drawdown, which sums up difficulty better than either figure alone. Whether there is a time limit. The price of a reset, often lower than the initial purchase. And what market data costs during the test, as it is not always included.
Where Evaluation shows up on real firms
Of the 13 prop firms we track, 10 meet the “cheapest 50K account” criterion. The ranking sorts them on verified fields, and every row leads to the record where the rule is detailed program by program.
Related terms
- Funded account
- A funded account is the account, usually simulated, that a prop firm entrusts to a trader after a passed evaluation, and on which they receive a share of the profits made.
- Trailing drawdown
- A trailing drawdown is a loss threshold that rises as the account gains, instead of staying fixed at the starting balance: the higher the account climbs, the closer the line you must not touch moves to the price.
- Consistency rule
- A consistency rule caps the share that a single day, or a single trade, may represent in total profit: it prevents an evaluation from being passed on one lucky shot.