In short

An evaluation is a paid or free rules-based test used by a firm to assess a trader’s performance.

01

An evaluation usually has a target, a daily-loss limit, a maximum drawdown, and conditions about what strategies or markets are allowed. Passing one rule does not cancel the others.

02

Many evaluations are simulated. Passing can make you eligible for another account or reward model, but it does not mean you own the displayed balance or have guaranteed access to live capital.

03

Before paying, write down the exact breach definitions, reset times, payout conditions, inactivity rules, and prohibited conduct. If the firm cannot explain them clearly, pause before purchasing.