Evaluation (Combine)

Evaluation is the pre-funded phase. The trader pays a fee and trades a simulated account against the firm's rules. To pass, they typically need to hit a profit target without breaching drawdown, daily loss, position-size, consistency, or conduct rules that apply to that account type.

Evaluation rules vary widely by firm and product. Traders who develop on evaluation discipline tend to do well later; traders who try to gamble through evaluations rarely make it past the first funded breach.