By Volodymyr Kravchenko Updated
Prop firms · Checklist
Before you pay for a challenge
Seven checks. Tick them off: the list is saved in your browser.
A challenge is a fee for a chance, and its rules are mostly about what ends it. Before you pay, check how the daily limit is measured, whether the overall limit trails, what the news rule does on the funded account, holding rules, minimum days, the cost of retries and that the account is simulated. We recommend no firm and quote no prices.
1. How is the daily loss limit measured?From balance, or from the higher of balance and equity. The dollars differ.
On the pages we read, FTMO measures it from the balance at the daily reset, FundingPips from the higher of balance and equity at the daily reset. A "5% daily loss" is therefore not the same amount everywhere. Try both in the drawdown calculator.
2. Is the overall limit static or trailing?A trailing floor rises with your balance and can shrink your room.
On the pages we read, FTMO's 1-Step has an end-of-day trailing maximum loss and a best-day rule; the other programmes compared here have a static overall limit. See the comparison.
3. What does the news rule do on the funded account?Often free in the evaluation, restricted once funded.
FTMO describes a 2-minute window on Standard accounts; FundingPips describes 5 minutes on master accounts and says purposely trading news is prohibited in every phase. Rules read on 23 Sep 2026: see news trading rules and the window checker.
4. Can you hold over the weekend?Holding rules can differ between evaluation and funded accounts.
We read that FundingPips does not allow weekend holding on master accounts (from 29 January 2026), while it is allowed in the evaluation. We did not verify this for other programmes: check your firm's own rules.
5. How many days and how much time?Minimum trading days, time limits and what "no rush" really means.
Minimum days and time limits are in the table below. If a page did not state one, we say so rather than guess.
6. What does a retry cost?Fee, reset or retake terms. We quote no prices.
Read the fee and the reset or retake terms on the firm's own page, then use the challenge cost calculator with your own numbers to see the expected cost over several attempts.
7. Is it real money?On the pages we read, accounts are simulated.
FTMO says it only provides simulated trading services and FundingPips says its accounts are demo accounts in a simulated environment. The money at risk is the fee you pay. Any reward is a performance payment under the firm's rules.
Then read the firm's own rules
Our reviews of the two firms we compare
Each review lists the rules as read on the firm's own page, with the date, and the risks. We do not rank them.
- FTMO review1-Step and 2-Step, news rule, risks.
- FundingPips review2 Step Standard and 1 Step Flex, risks.
- Compare the twoTargets, loss limits, days, side by side.
These are our own pages. If a review links to a partner, it is marked as an affiliate link: Marlin may earn a commission at no extra cost to you.
The limits as we read them Targets, loss limits and minimum days, with how each limit is measured.
| Programme | Target | Daily / overall | Days | Daily measured |
|---|---|---|---|---|
| FTMO 1-Step Challenge | 10% | 3% / 10% (end-of-day trailing) | Not stated on the page we read | from the balance at the daily reset; resets 00:00 CE(S)T |
| FTMO 2-Step Evaluation | 10%, then 5% | 5% / 10% (static) | At least 4 trading days | from the balance at the daily reset; resets 00:00 CE(S)T |
| FundingPips 1 Step Flex | 12% | 3% / 12% (static) | No minimum trading days | from the higher of balance and equity at the daily reset; resets 00:00 platform time (UTC+3) |
| FundingPips 2 Step Standard | 8%, then 5% | 5% / 10% (static) | At least 3 trading days per phase | from the higher of balance and equity at the daily reset; resets 00:00 platform time (UTC+3) |
Read on 21 Sep 2026 (objectives) and 26 Sep 2026 (formulas). Full sources: comparison.
After you tick all seven Three tools to practise the limits before you pay.
- Trade Gate: a stop, 1% risk and day limits before each trade.
- Drawdown calculator: how much you can still lose today.
- Expectancy and pass odds: what your win rate and reward-to-risk imply.
More in Protect your account.
Frequently asked questions
Which prop firm should I choose?
We do not rank firms. We compared published objectives for FTMO and FundingPips only, and we did not compare fees, payouts, platforms or country availability. Check the current terms on each official site.
Is passing a challenge guaranteed?
No. The limits are strict, a breach ends the attempt and the fee is a cost you should be ready to lose. We found no pass rates on the pages we read.
Are the numbers current?
Objectives were read on 21 Sep 2026, loss formulas on 26 Sep 2026 and news rules on 23 Sep 2026. Rules change: VERIFY CURRENT DATA on the firm's page before you pay.
Does Marlin earn a commission?
Marlin may earn a commission if you sign up through some partner links, at no extra cost to you. It does not decide what we write. See the affiliate disclosure.
This content is provided for educational purposes only and is not investment advice. Trading involves risk, and past performance does not guarantee future results. Affiliate relationships may exist. Always conduct your own independent research before making financial decisions.