Evaluations & the rulebook

An evaluation is a paid trading assessment. Pass it, and the account converts to a funded account. The pass/fail criteria are fixed at the protocol level, identical on every firm, so a firm can't loosen its rules to sell more evaluations.

The fixed rulebook

These numbers are set once, platform-wide, not per firm. The Autonomous Risk Engine (see The risk engine) can tighten them further for accounts purchased while a specific firm is under stress, longer minimum trading days, a lower effective profit target margin, tighter drawdown, but it only ever tightens from this baseline. It never loosens below it, and it never changes a rule an account has already locked in at purchase.

What a firm actually controls

A firm sets its branding, its storefront pricing (within a guided range), and its profit split. That is the whole list. Everything else, the drawdown and loss limits, the minimum trading days, the profit target, the account sizes on offer and the funded-account leverage, is platform-fixed and server-enforced. This is deliberate: it's what lets a trader compare firms on price and service without needing to audit each one's risk rules separately.

Account sizes scale with a firm's own liquidity

Not every firm can offer every account size immediately. Sizes above $50k unlock only once a firm's combined liquidity, its own treasury plus its token reserve, backstop pool, and share of the shared Universal Treasury PoolUniversal Treasury PoolA cross-firm shared liquidity pool, funded by a slice of every firm's fees, used only as the last layer of the payout waterfall., crosses set thresholds:

This is a solvency rail, not a marketing tier: it means a firm literally cannot offer an account size larger than what it and its liquidity layers (see Tokenomics & liquidity) can support. Larger sizes become available automatically as a firm grows, and can pause automatically if a firm's liquidity drops.

Coming back after a loss costs a little less

Failing an evaluation and buying another one isn't treated as if you were never here before. A per-wallet credit accrues quietly against what you've personally spent on evaluations over time, capped at a small share of your own lifetime spend, and it's realized automatically as a discount the next time you actually buy, never as cash sitting in a balance, and never covering more than half of a purchase outright. It costs a firm nothing until a trader actually returns and redeems it, so a trader who never comes back costs nothing either. Staking a modest amount of a firm's token, in either its no-risk or backstop pool (see Staking economics), is what unlocks the discount, a small growth incentive rather than a hidden fee.