Evaluations and accounts
Live account
A brokerage account holding a trader's own money, where orders reach a market and losses are the trader's own. It is the thing a simulated prop account is deliberately not.
GFN’s figure
GFN is not a broker and does not accept customer investment deposits. Evaluation and funded accounts are simulated, and no customer trades are executed in live financial markets.
In detail
Live account,explained
The distinction matters legally and practically. On a live account you carry the market risk and the broker relationship; on a simulated prop account the firm carries the trading outcome and you carry the fee you paid to be assessed.
It also changes the failure mode. A live account fails when it runs out of money; a prop account fails when it touches a rule, which can happen while it is still well in profit overall.
Related
Terms thatcome with it
Most rules only make sense next to the ones they interact with. These are the entries this one depends on.
Simulated account
An account that reproduces live market conditions - prices, spreads, commission, slippage - without routing orders to a market. Every GFN evaluation and funded account is one, and no customer capital is ever exposed.
Demo account
A practice account with no assessment, no rules and no payout. It exists to learn an interface or test a strategy, and nothing that happens on it qualifies you for anything.
Broker
A firm that executes trades on a client's behalf and holds client funds to do so. It is a different business from a prop firm, with different obligations and a different relationship to the client.
Simulated funding
The model where a firm assesses and pays traders on simulated accounts rather than routing their orders to a market. Trading is simulated; payouts against qualifying performance are real money.
Prop firm
A company that assesses traders and pays them a share of the results they produce, rather than a broker that executes orders for clients. Most modern retail firms run the assessment on simulated accounts.
Ready when you are
Your capital stays yours.The risk is ours.
One evaluation fee, no time limits and up to 90% of simulated profits. Pick an account size and your credentials arrive by email within minutes.
No subscriptions or hidden fees
Payouts every 14 days
$400,000 max total allocation