Evaluation
An evaluation is the paid test account a trader must pass — reaching a profit target without breaching the rules — before being given a funded account.
How it works
Structures range from a single phase to two phases with separate targets. The account is simulated throughout; no firm capital is at risk during the evaluation. Fees are charged once or monthly depending on the firm, and a failed evaluation can usually be restarted with a paid reset rather than a new purchase. Passing does not always mean immediate funding — several firms add an activation fee or a review step.
Why it matters on a funded account
The evaluation and the funded account frequently run different rule sets at the same firm. Checking only the evaluation rules before purchase is the most common and most expensive omission.
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Part of the Puravida Edge prop trading glossary. Firm-specific figures verified September 2026; rules change frequently — confirm on the firm's site.