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Based in Exeter - working across prop trading firms worldwide

Glossary · Evaluations

One-step challenge

  • Also called
  • 1-step challenge
  • single-phase evaluation

What it means

In a prop firm, a one-step challenge removes the second phase of a classic two-step program. To compensate for the faster route, firms usually tighten something else: a lower maximum loss, a trailing rather than static drawdown, a higher fee, a consistency rule, or a smaller profit split until the trader has a payout history.

One-step programs suit traders who want speed and dislike repeating the same test twice. They also shorten the time between purchase and first payout request, which affects the firm's cash flow and the size of the payout reserve it needs to hold.

Because one-step and two-step programs often sit on the same pricing table, the website has to make the trade-offs visible side by side, not just the headline price.

Related terms

Read these next.

Evaluations

Two-step challenge

A two-step challenge is an evaluation split into two phases, usually a higher profit target first and a lower one in a verification phase, before simulated funding.
Evaluations

Evaluation

An evaluation is the paid, rule-bound test a prop firm sells, in which a trader must hit a profit target in a simulated account without breaking any risk rule.
Risk and drawdown

Trailing drawdown

A trailing drawdown is a maximum loss limit that moves up as the account reaches new highs, so the breach level follows the trader's peak rather than staying fixed.
Payouts

Payout ratio

Payout ratio is the share of a prop firm's revenue paid out to traders as performance rewards over a period, the key measure of whether the model is sustainable.
The website

Pricing table

A prop firm pricing table lists each program and account size with its fee and core rules side by side, so traders can compare and buy without opening the rules page.

On your website

Where this shows up on a prop firm site.

Feature

Challenge pricing table

The table traders compare first: program, size, price, target, daily and maximum loss and split, readable in ten seconds on a phone.
Feature

Rules pages

Rules a trader can read one way: one page per rule, worked examples from your own numbers, and a table of which rules apply to which plan.

Looking for a prop firm to trade with, not a website? Compare firms on PropFirmPal, the comparison site our founder owns.Go to PropFirmPal →

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