What is a prop firm challenge?
It is the evaluation that shows the firm you can trade profitably while controlling risk. You trade an evaluation account and need to reach a profit target without breaching the daily loss or maximum loss, in a minimum number of trading days.
Which challenge should I choose?
- 2-Step: the classic path. Lower targets (10% then 5%) and wider loss limits (4% daily, 8% max). Ideal if you value flexibility.
- 1-Step: faster. One 10% target, no time limit, tighter limits (3% daily, 6% trailing).
- Futures: one evaluation on CME contracts with a 6% target and contract limits.
If you do not pass
A breached account is closed automatically and you receive a report explaining what happened. You can start a new challenge whenever you want, and returning traders may receive a discounted retry.