● Gold Standard

FTMO — 2-Step Challenge

The classic two-phase evaluation that defined retail prop trading. Clean rules, no consistency requirement, static drawdown.

Phase 1 — FTMO Challenge

Rule Value
Profit Target10%
Max Daily Loss5%
Max Loss10% (static)
Drawdown TypeStatic — measured from initial balance, does not trail
Min Trading Days4 calendar days
Max Trading PeriodUnlimited
Consistency RuleNone
News TradingAllowed during evaluation

Phase 2 — Verification

Rule Value
Profit Target5%
Max Daily Loss5%
Max Loss10% (static)
Drawdown TypeStatic
Min Trading Days4 calendar days
Max Trading PeriodUnlimited
Consistency RuleNone
News TradingAllowed during evaluation

Funded Account

Rule Value
Profit TargetNone
Max Daily Loss5%
Max Loss10% (static)
Profit Split80% (up to 90% with scaling)
Payout Cycle14 days (bi-weekly)
News TradingRestricted on Standard accounts — no new positions 2 min before to 2 min after high-impact news. Allowed on Swing accounts.

Account Sizes

Account Size Phase 1 Target Phase 2 Target Max Loss Floor
$10,000$11,000$10,500$9,000
$25,000$27,500$26,250$22,500
$50,000$55,000$52,500$45,000
$100,000$110,000$105,000$90,000
$200,000$220,000$210,000$180,000

What makes it work

  • Static drawdown — the max loss limit stays at 10% of your initial balance. It never trails upward as you profit, meaning your buffer doesn't shrink as you get closer to the target.
  • No consistency rule — no best-day cap, no minimum profitable days. You can hit the target in 4 trades or 400.
  • No time limit — both phases have unlimited trading periods. Take your time.
  • Lower combined target — 10% + 5% = 15% total across two phases, but with static drawdown and no consistency rule the effective difficulty is lower than competitors with similar numbers but trailing drawdown.
  • Free retry — if you pass Phase 1 but fail Phase 2, you get a free retry of Phase 2.
Daily loss calculation: The 5% max daily loss resets at midnight CE(S)T. It includes both realized P&L and floating (unrealized) P&L for that day, calculated from your balance at the start of the trading day.
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All data sourced from publicly available websites, trading rules pages, FAQ sections, and Terms & Conditions documents. Payout success ratings are based on verified trader reports, public reviews, and personal experiences where noted. Important: several firms maintain separate web and PDF terms that contain conflicting language — the PDF is the controlling document. Always read the full PDF terms before purchasing any account. This is educational material — always verify current terms directly with the firm.

Updated: Jun 25, 2026