Evaluations and accounts
Two-step evaluation
An assessment split into two phases with separate profit targets. The first phase proves the strategy, the second - usually at a lower target - checks it repeats before the firm issues a simulated funded account.
Also called: 2 Step challenge · Two-phase evaluation
GFN’s figure
The GFN 2 Step runs 8% then 5% against a 8% non-trailing drawdown, with 3 minimum trading days, a 35% consistency rule and one free retake.
- 2 StepPhase 1 target
- 8% ($8,000 on $100,000)
- 2 StepPhase 2 target
- 5% ($5,000 on $100,000)
- 2 StepConsistency rule
- 35% of total profit, maximum, in one day
The consistency rule and the 3-day minimum apply to the 2 Step only. Instant and the 1 Step have neither.
In detail
Two-step evaluation,explained
Two-step programmes are the industry's oldest format and normally its cheapest, because the second phase reduces the chance that a single lucky run reaches funding. Profits from the first phase do not carry into the second: each phase starts again from the account's starting balance.
The second phase is where most attempts fail, not the first. Traders arrive at it having already proven the strategy once and size up, which is precisely the wrong response to a lower target.
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.
One-step evaluation
An assessment with a single profit target. Clear it without breaching and you go straight to a simulated funded account - there is no second verification phase to trade afterwards.
Phase one
The first stage of a two-step evaluation, carrying the higher of the two profit targets. Clearing it without breaching a risk rule moves the account to phase two rather than to a funded account.
Phase two
The second stage of a two-step evaluation, usually at a lower profit target than the first. It exists to check the result repeats, and it is where a large share of otherwise successful attempts fail.
Consistency rule
A rule capping how much of an account's total profit may come from a single trading day. It stops one outsized day from carrying an otherwise flat account through an evaluation.
Free retake
A second attempt at an evaluation included in the original fee, granted after a hard breach. It is not a free first attempt - the evaluation was paid for - and its rules are often tighter than the original.
Also governed by /rules/profit-target
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.
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Payouts every 14 days
$400,000 max total allocation