Part 1 — Which challenge to buy

The rule set decides the difficulty, not the price

Challenge fees are the easiest thing to compare and the least useful. What determines whether you pass is how loss is measured, how many phases you must repeat, and what happens when an attempt ends badly.

Read one live rule set as you go

The four factors below are easier to judge against real terms. Open a provider’s current challenge page and keep it beside this article.

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The drawdown model outranks the fee

Two challenges with the same profit target can differ enormously in difficulty depending on how the loss limit is measured. A static drawdown is fixed from your starting balance. A trailing drawdown follows your equity or closed balance upward, so profitable days tighten your own room. Read which one applies before you compare prices — a cheaper challenge on a trailing model can be the harder purchase.

Phase count changes what is being tested

A single-phase challenge tests whether you can reach a target once. A multi-phase challenge tests whether you can do it again under a different target, which rewards a repeatable process over one strong week. Neither is objectively easier: pick the one that matches how consistent your results actually are, not how quickly you want funding.

Time limits and minimum days shape strategy

A minimum-trading-day rule forces you to stay in the market longer than a fast run would require. A time limit does the opposite. Where both exist they narrow the window in which your edge has to appear. Check the exact terms on the firm's own challenge page — they vary by firm and by account, and they change.

What a reset policy is actually worth

A reset lets you restart a failed attempt instead of buying a new account. Its value depends on three things: what it costs relative to a fresh purchase, whether it restores the original account size and terms, and whether it is available at every phase. A reset is only worth paying a premium for if you expect to need more than one attempt — and if you do, that is worth knowing before you buy the first one.

Now check a drawdown model for yourself

Static or trailing, balance-based or equity-based — the firm states which it uses on its own challenge page. That single line changes the difficulty more than the fee does.

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Match the challenge to how you actually trade

Trading frequency changes which rule is the binding constraint. Find yours first, then compare firms on that rule.

High-frequency and intraday

Daily loss limits bite hardest when you take many positions per session. Prioritise a generous or clearly-defined daily limit and check whether the firm counts open floating loss against it.

Swing and multi-day

Overnight and weekend holding rules matter more than the target. Confirm holding permissions before buying rather than discovering a breach after the fact.

News-driven

News-trading restrictions are the most common silent disqualifier. Check the firm's stated policy directly — do not assume it from another firm's rules.

Futures rather than forex

Futures programmes use different account and drawdown conventions than forex evaluations. Compare within the same market rather than across it.

Match a programme to your trading frequency

Lower-frequency and swing styles are constrained by different rules than intraday ones. Compare the programme types at the source.

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Knowing the rules is half of it

Picking the right rule set only helps if you then trade inside it. Most failed attempts are not caused by a bad challenge choice — they are caused by risk sizing that ignores the daily loss limit.

Read how to pass a challenge

Futures rather than forex?

If your edge is in futures, the binding constraints are contract limits and the drawdown model. Both are published on the firm’s own site.

Visit Top One Futures

Firms to check the rules on

We do not restate terms we cannot verify. Each firm publishes its current rule set on its own challenge page — these links take you straight there.

Some links on this site are affiliate links. If you purchase through one of these links, we may earn a commission at no additional cost to you. Our recommendations are based on the factors explained on each page.

FundingPips

Forex · Metals · Indices · Energies · Crypto

Evaluation-based funding across forex and CFD markets. Current phase structure, targets and drawdown terms are published on the firm's challenge page.

Challenge fee: Not specified
Profit target: Model and phase dependent — around 8%/5% on the two-step, 10% on the one-step.
Daily loss limit: Typically 3–5%, treated as a hard breach.
Max loss / drawdown: Typically 6–10%, static or trailing depending on the model.
Minimum days: Minimum profitable days apply on Zero.
Other rules: A consistency rule (biggest day around 15%) applies on some funded accounts.

Best for

Traders comparing multi-phase evaluation formats.

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Goat Funded Trader

Forex · CFDs

Offers several challenge formats. Check the checkout page for the account sizes and rule sets currently on sale.

Challenge fee: Not specified
Profit target: Varies by model; some instant products have no target or a low one.
Daily loss limit: Model dependent — around 3% on some entry products.
Max loss / drawdown: Model dependent — around 6% on some entry products.
Minimum days: Not specified
Other rules: Consistency, news, overnight and EA rules are model-specific — confirm on help.goatfundedtrader.com.

Best for

Traders who want a choice of challenge models in one place.

Continue to Checkout See rules

Alpha Capital

Forex · Metals · Indices · Oil

Evaluation programmes for forex and CFD traders. Rule details are listed on the firm's own signup flow.

Challenge fee: Not specified
Profit target: Roughly 6–12% depending on the plan.
Daily loss limit: End-of-day based, around 3–5%.
Max loss / drawdown: Trailing on Alpha One, static on Pro — roughly 4–10%.
Minimum days: 0–1 on Alpha One; 3 per phase on Pro and Three.
Other rules: Not specified

Best for

Traders comparing evaluation rule sets rather than headline price.

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The5ers

Forex

Long-running forex funding provider with more than one programme type. Compare the programmes on the firm's site before choosing.

Challenge fee: Not specified
Profit target: Commonly 6–10% per phase.
Daily loss limit: Around 3–5% — pauses or terminates depending on the programme.
Max loss / drawdown: Static 6–10% on many CFD programmes; trailing on futures.
Minimum days: Minimum profitable days on some programmes (3 days of at least 0.5%).
Other rules: 30 days of inactivity closes the account.

Best for

Lower-frequency and swing traders comparing programme types.

Visit The5ers See rules

For Traders

Forex · CFDs

Challenge selection is configured directly in the firm's new-challenge screen, where the current terms are shown.

Challenge fee: Not specified
Profit target: Low on some newer models — 2% on Pay After Pass.
Daily loss limit: Around 3% on the models we have seen.
Max loss / drawdown: Around 6%, trailing on those examples.
Minimum days: Not specified
Other rules: A 20% consistency rule applies on funded accounts in some models; inactivity rules apply.

Best for

Traders who want to see the challenge builder before buying.

View Challenge Options See rules

Top One Futures

Futures

Futures-focused evaluation accounts. Contract limits and drawdown model are set out on the firm's site.

Challenge fee: Not specified
Profit target: Not fully verified — check the official help centre.
Daily loss limit: Not fully verified — check the official help centre.
Max loss / drawdown: Drawdown type not fully verified — check the official help centre.
Minimum days: Not specified
Other rules: News trading allowed per the firm's marketing; 90% profit split.

Best for

Traders whose strategy is futures-based rather than forex.

Visit Top One Futures See rules

One last check before you buy

Confirm the current fee, target, drawdown model and reset terms on the provider’s own page — never from a third-party summary, including ours.

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Wrong model for you?

One-step challenges

A single evaluation phase before funding.

Two-step challenges

The classic two-phase evaluation route.

Instant funding

No evaluation phase — funded from purchase.

Check current rules on

FundingPips

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