The fee traders pay to reset an evaluation and start over if they fail to meet the trading requirements.
If a trader breaches rules but wants to try again without starting a new account, they can pay a reset fee instead of a full evaluation fee. This can be a cost-effective way to continue the process.
A trader fails an evaluation due to exceeding the daily loss limit. Instead of paying $150 for a new evaluation, they pay a $100 reset fee to restart with the same account.
The number of phases a trader must complete to qualify for a funded account. Each phase typically includes meeting profit targets while adhering to risk rules.
The initial amount of capital allocated to a trading account in an evaluation or funded account.
The specific profit amount a trader must achieve to pass an evaluation or progress to a higher account level.
The maximum amount a trader is allowed to lose in a single trading day. Exceeding this limit typically disqualifies the trader. There are different types of loss limits, so it is important to understand the type that applies to a chosen plan.
The maximum permissible loss from the starting balance or peak balance. Breaching the drawdown limit ends the evaluation or funded account.