A specific period during which traders can reset their evaluation to avoid disqualification.
Some firms allow a grace period before an evaluation is officially failed. This window gives traders the opportunity to reset without losing their evaluation progress.
A trader breaches their drawdown limit but has 48 hours to reset before the account is closed permanently. They choose to reset and continue their evaluation.
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.