Two Step Evaluation Prop Firms
Two-step evaluation prop firms split the funding process into two challenge phases — usually a higher target on phase 1 and a lower target on phase 2 — before issuing the funded account. This is the most common evaluation structure across the industry.
How to Choose a Two Step Evaluation Prop Firm
Three decision factors for narrowing the list above to the firm that fits your trading style and risk profile.
Phase Targets and Consistency Rules
Most two-step evaluations run an 8% target on phase 1 and a 5% target on phase 2 — together about the same total profit you'd need on a one-step, but split into smaller, more achievable goals. Consistency rules and minimum trading days vary widely between firms; some require a max single-day profit cap (e.g. 30–40% of the phase target), which prevents lottery-style trading. Check both phases' rules before paying.
Evaluation Cost vs. Account Size
Cheaper evaluations let you attempt funding more times, but the largest accounts ( $4.0M at the top firm in this list) come with higher fees and stricter rules. Compare the cost-to-capital ratio on each firm's profile.
Profit Split & Payout Speed
Profit splits across this list typically range from 70/30 to 90/10 in the trader's favour. Payout speed and frequency vary — some firms pay weekly, others monthly. Both are listed on each firm's profile.
Two Step Evaluation Prop Firms FAQ
Quick answers to the questions traders ask before choosing a two step evaluation prop firm.