A funded trader is someone who has passed a prop firm evaluation and is operating a funded simulated account, trading under the program’s risk rules and receiving a share of profits generated. The status describes a commercial relationship — not a financial credential — and carries the same hard risk limits as the evaluation, with…

Execution speed is the time between submitting an order and receiving a confirmed fill. In evaluation accounts it primarily matters through its effect on slippage — slow or inconsistent execution during fast markets can produce worse fills than intended, potentially breaching a risk limit that would have held at the expected fill price.

Copy trading automatically replicates another trader’s positions on your account in real time. In funded evaluations the key restriction targets cross-account copying and shared signal services — both of which undermine the individual assessment element of the evaluation — rather than copying from a trader’s own personal account.

Pass rate is the percentage of evaluation attempts that result in a successful pass — meaning the trader hit the profit target without breaching any risk limit — and advance to the next phase or to funded status. It is the most direct measure of how difficult a program’s evaluation conditions are in practice. Industry-wide…

A challenge is the colloquial industry term for a funded trader evaluation — the paid simulated-trading assessment a trader completes to qualify for a funded account. Industry pass rates sit at roughly 10–15%, with most failures driven not by unprofitability but by a single daily loss limit or drawdown breach.

Simulated trading is the execution of trades in a demo environment using virtual funds, where no actual capital is at risk and no real-market transactions occur. All funded evaluation program accounts operate in simulation throughout — the risk rules are enforced with full precision, but the funds exist only within the program’s accounting system.

A prop firm is a company that provides traders with capital to trade in exchange for a share of profits. In the retail context, the term covers simulated-capital evaluation programs — a structurally different model from traditional prop trading that uses demo accounts throughout and funds performance rewards from program revenue, not real-market activity.

Drawdown recovery is the process of rebuilding equity after a period of losses. In funded evaluations it is structurally harder than the initial drawdown — the recovery gain required always exceeds the percentage lost — and under trailing drawdown models it must happen within a compressed risk window that shrinks as the account peaks and…

Rollover is the automatic extension of an open position past the daily market close, at which point a swap charge or credit is applied to the account. In funded evaluations it interacts with the daily loss limit reset, overnight holding rules, and — on Wednesday — carries a triple swap charge due to weekend settlement…

Floating P&L is the unrealised profit or loss on open positions at any given moment — the gain or loss that exists on paper but has not yet been locked in by closing the trade. In funded evaluations it is the most operationally significant account metric because most modern risk limits measure against equity, which…