Quick answer
Compare the exact program and stage. Static, end-of-day trailing and intraday trailing loss floors work differently; daily pauses and payout-consistency conditions are not automatically account failures. FTMO, Apex, The5ers and FundedNext each have model-specific rules.
Steps at a glance
- Compare your trade history against the exact loss formula and keep a personal risk buffer.
- Calculate your best-day profit ratio over 30-60 sessions to check consistency-rule fit.
- Verify strategy rules: news restrictions, weekend holding, and EA permissions.
- Translate percentage limits into dollar amounts for your account size.
- Cross-check minimum trading days and time limits against your schedule.
Key takeaways
- Name the account model and stage before comparing rules.
- An EOD loss floor can still be enforced intraday.
- Consistency formulas and consequences vary by program.
- Resolve conflicting published terms before purchasing.
On this page
- The Three Drawdown Models: Calculation and Enforcement
- Consistency Rules: Evaluation and Payout Conditions
- Program Comparison: FTMO, Apex, The5ers and FundedNext
- Other Evaluation Rules That Can End Your Challenge
- How to Match Prop Firm Rules to Your Trading Strategy
- Frequently Asked Questions: Prop Firm Rules
- Frequently Asked Questions
Evaluation rules define the targets, loss limits and conduct conditions for a particular account. A hard drawdown breach, a daily trading pause and an unmet payout condition are different outcomes. Compare the named program and stage before purchasing.
This guide uses official rules checked on October 5, 2026. It does not establish an industry pass rate or rank the most common reasons for failure. Firm-wide labels are insufficient: a provider may have several evaluation models and separate funded-account conditions.
The Three Drawdown Models: Calculation and Enforcement
Static drawdown
A fixed maximum-loss floor is anchored to initial capital. As an arithmetic example, 10% below 100,000 is 90,000. Profits increase the distance to that floor, but a separate daily limit may still constrain trading.
End-of-day trailing drawdown
The high-water mark is sampled at a defined daily close. With an illustrative 5,000 trail, a highest closing balance of 101,000 gives a 96,000 floor, even if the account reached 103,000 intraday. The floor can still be enforced during the next session.
Intraday trailing drawdown
The floor follows the specified intraday peak, potentially including unrealized profits. A profit that reverses can leave the floor higher even when the trade closes flat. Confirm whether the threshold eventually stops rising.
Apex’s EOD guide distinguishes PA and platform-specific evaluation stopping levels: PA thresholds stop at starting balance plus 100; Rithmic/Wealthcharts evaluations stop at the target-profit balance, while Tradovate EOD evaluations continue trailing. “Never locks” is therefore not a valid blanket description.
Daily loss is a separate condition
Some daily limits fail an account; others pause trading. Include open-position P&L and costs wherever the rule requires them, and use the provider’s reset timezone.
| Rule | FTMO CFD 2-Step | Apex EOD Evaluation (100K) | The5ers High Stakes / 100K 2-Step | FundedNext Stellar 2-Step |
|---|---|---|---|---|
| Daily loss | 5% of initial capital; daily floor resets | 1,500; reaching DLL pauses session | General High Stakes: 5%; specific 100K FAQ: 3% — confirm variant | 5% of initial balance |
| Maximum loss | 10% static | 3,000 EOD trailing | 10% initial balance | 10% initial balance |
| Reset or trailing basis | 00:00 CE(S)T daily calculation | Highest EOD balance; enforced intraday | Daily basis: higher prior closing balance/equity | Use platform reset and published daily-loss calculation |
| Initial 100K max-loss floor | 90,000 | 97,000 | 90,000 | 90,000 |
The5ers source discrepancy: Its general High Stakes drawdown FAQ states 5% daily loss, while the specific 100K New/Classic 2-Step FAQ states 3%. Both use 10% maximum loss. Confirm which terms govern the account offered at checkout; do not assume the general page overrides its specific terms.
Consistency Rules: Evaluation and Payout Conditions
A best-day test compares the largest profitable day with a defined denominator. That denominator may be net profit or the sum of profitable days, and the check may apply at evaluation completion or payout. Read the formula and whether equality is allowed.
Illustrative arithmetic: A best day of 3,500 divided by total net profit of 8,000 is 43.75%. Under a hypothetical maximum 40% rule, total net profit must reach at least 8,750 if the best day stays unchanged. This is not a FundedNext evaluation target or a recommendation to force extra trades.
| Program | Consistency condition | Stage | Scope |
|---|---|---|---|
| FTMO CFD 1-Step | 50% Best Day | Challenge and subsequent 1-Step account | Denominator is Positive Days’ Profit |
| FTMO CFD 2-Step | No Best Day rule | Standard and Swing | No separate 30% Swing per-trade limit established |
| Apex current EOD | No evaluation consistency; PA payout rule below 50% | PA payout eligibility | Legacy and Intraday accounts have separate guides |
| The5ers specific 100K 2-Step FAQ | None in evaluation; 50% funded | Named 100K offering | Do not generalize to every High Stakes variant |
| FundedNext Stellar 2-Step | 40% for On-Demand reward option | Funded reward eligibility | Not a blanket 40% evaluation rule |
Sources: FTMO objectives; Apex EOD payouts; FundedNext On-Demand conditions. Apex’s explanatory examples are not completely consistent about equality; its payout rule says a day cannot account for 50% or more, so use the stricter below-50% condition.
Program Comparison: FTMO, Apex, The5ers and FundedNext
These are selected programs, not complete brand-wide rules. The fee row is retained as historical illustrative pricing and is not a current quote; verify checkout.
| Rule | FTMO CFD 2-Step | Apex EOD Evaluation (100K) | The5ers High Stakes / 100K 2-Step | FundedNext Stellar 2-Step |
|---|---|---|---|---|
| Profit targets | 10%, then 5% | 6,000 single phase | New: 10%/5%; Classic 100K FAQ: 8%/5% | 8%, then 5% |
| Minimum days | 4 trading days per phase | No minimum | General High Stakes: 3 profitable days per phase; confirm selected 100K terms | 5 trading days per phase |
| Evaluation period | Unlimited | 30 calendar days | General High Stakes: unlimited, inactivity rule applies | No target deadline; inactivity rules remain relevant |
| Drawdown and daily loss | See loss table above | See loss table above | Resolve variant discrepancy before purchase | See loss table above |
| Consistency | See program table above | See program table above | See program table above | See payout-option table above |
| After passing | Review and account agreement | PA activation window: 7 calendar days | Verify funded rules for selected variant | KYC and separate funded reward conditions |
| Challenge fee (~$100K) | ~€540 | Varies by plan | ~$495-$595 | ~$549-$649 |
Official references: FTMO CFD comparison, Apex EOD evaluation, The5ers High Stakes overview, and FundedNext Stellar 2-Step.
FTMO CFD 1-Step differs from the 2-Step column: it uses 3% daily loss, 10% EOD-trailing maximum loss, a single 10% target and a 50% Best Day condition. FTMO Futures has separate rules. Apex Intraday and Legacy accounts must also be checked separately.
Translate percentages into account amounts
The following is arithmetic at an initial 25,000 balance, not confirmation that every variant is sold at that size. Daily floors can change after the first session.
| 25K arithmetic illustration | FTMO CFD 2-Step | The5ers rule variants (not an availability quote) | FundedNext Stellar 2-Step |
|---|---|---|---|
| Daily loss amount at initial balance | 1,250 | A 5% rule: 1,250; a 3% rule: 750 | 1,250 |
| 10% static maximum-loss floor | 22,500 | 22,500 | 22,500 |
| Phase 1 target illustration | 2,500 at 10% | 2,500 at 10%; 2,000 at 8% | 2,000 at 8% |
| Best-day test | Not part of CFD 2-Step objectives | Check selected program and phase | On-Demand funded reward option only |
Other Rules to Check Before Trading
Minimum trading days
FTMO CFD 2-Step counts a day when at least one position is opened; it does not require opening and closing on that same day. A profitable-day requirement is different: The5ers’ general High Stakes page defines a qualifying day using at least 0.5% of initial balance and its specified midnight calculation.
News and weekend rules
FTMO’s news restriction applies to targeted executions on later Standard CFD accounts around selected releases, not to its evaluations; Swing is exempt. Its holding FAQ likewise distinguishes evaluation from Standard and Swing FTMO Accounts.
The5ers’ High Stakes page prohibits executions within two minutes either side of high-impact news while allowing existing positions to remain open. FundedNext’s funded news-profit policy can reduce counted profits; “allowed” does not mean every news trade earns an unrestricted reward.
Automation and short-duration trades
There is no universal EA permission. Apex prohibits automated trading and algorithms. FundedNext’s current Stellar 2-Step guide restricts EA use by account size, and its Match-Trader rules prohibit automated trading on that platform. The program guide also requires Quick Strike profit from trades closed within 30 seconds to stay below 30%. Confirm the applicable platform and purchase terms.
Rewards are not evaluation profits on demand
FundedNext’s 15% Challenge reward becomes withdrawable only after qualifying for its scale-up conditions. It is not a cash payout while completing Phase 1 or Phase 2.
How to Match Rules to Your Strategy
- Replay your own trades against the exact drawdown formula, including floating P&L, charges and reset times.
- Calculate any best-day ratio using the correct denominator and payout cycle.
- Check news execution windows, session closing rules and automation restrictions.
- Record the purchase date, plan version and applicable agreement.
- Allow a buffer for slippage and stop trading when your personal risk limits are reached; an unmet target is not a reason to force trades.
Use a Discount Code to Reduce Your Evaluation Cost
Challenge fees add up quickly, especially across multiple attempts. JoinProp tracks exclusive discount codes across 200+ prop firms, including FTMO, Apex, The 5%ers, and FundedNext. Reducing the challenge fee by 10-25% changes the economics of multiple attempts significantly.
Browse current prop firm discount codes on JoinProp and compare evaluation rules side by side before committing to a firm.
Frequently Asked Questions: Prop Firm Rules
What is the most common evaluation failure reason?
No comparable industry-wide failure dataset is established in this guide. Loss-limit breaches, prohibited strategies and unmet eligibility conditions have different consequences. Check the exact rulebook rather than relying on a universal ranking.
Does FTMO enforce a consistency rule?
FTMO CFD 1-Step uses a 50% Best Day rule based on Positive Days’ Profit. CFD 2-Step has no Best Day requirement, including Swing. The former claim of a 30% per-trade Swing limit was unsupported.
How does trailing drawdown differ from static drawdown?
A static maximum-loss floor is fixed from initial capital. A trailing floor rises with a defined high-water mark. End-of-day calculation does not mean breaches are checked only at the close; the established floor can be enforced intraday. Check any stop-trailing level.
Related: See which prop firms have the fairest evaluation rules.
Related on JoinProp
Frequently Asked Questions
What is the most common evaluation failure reason?
No comparable industry-wide failure dataset is established in this guide. Loss-limit breaches, prohibited strategies and unmet eligibility conditions have different consequences. Check the exact rulebook rather than relying on a universal ranking.
Does FTMO enforce a consistency rule?
FTMO CFD 1-Step uses a 50% Best Day rule based on Positive Days’ Profit. CFD 2-Step has no Best Day requirement, including Swing. The former claim of a 30% per-trade Swing limit was unsupported.
How does trailing drawdown differ from static drawdown?
A static maximum-loss floor is fixed from initial capital. A trailing floor rises with a defined high-water mark. End-of-day calculation does not mean breaches are checked only at the close; the established floor can be enforced intraday. Check any stop-trailing level.
Can you hold positions over weekends?
Check the program and stage. FTMO permits weekend holding during its CFD evaluations; the later Standard FTMO Account has closing restrictions, while Swing is exempt. Other firms have their own session-close and weekend rules.
What happens if consistency is not satisfied after hitting the target?
It depends on the program. FTMO 1-Step treats an excessive Best Day ratio as an unmet objective, not an automatic breach. Apex EOD PA can remain active while payout eligibility is unavailable. Additional trading still carries loss and expiry risks.
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