How you lose the account
At AquaFunded, the most common ways to lose an account are breaching the drawdown limits or violating the "Wave Stop" rule. On most non-instant accounts, if your open trades reach a 2% loss of the account balance, the system automatically closes them; a second breach of this type leads to account termination. Additionally, for accounts opened before April 2026, opening or closing trades during high-impact news is a direct violation.
At Wall Street Funded, the risk of losing the account extends beyond drawdown. You can lose your account for failing to set a Stop Loss (SL) within two minutes of opening a trade, or for closing a trade in less than 60 seconds (scalping restriction). They also strictly prohibit news trading on funded accounts within a 4-minute window; violating this leads to a breach.
Maximum drawdown
AquaFunded uses a mixed approach depending on the plan. In the "Instant" and "Pro" models, the drawdown is trailing, calculated based on the highest value reached by either equity or balance. In "1 Step Flex" and "2 Step Elite," the drawdown is static.
- Numeric Example (AquaFunded Trailing): On a $100,000 account with an 8% trailing drawdown, your floor starts at $92,000. If your equity peaks at $105,000, your new loss floor is $96,600. Even if your balance is still $100,000, dropping to $96,600 loses the account.
Wall Street Funded provides a static maximum drawdown for their One Step and Two Step evaluations, which is generally safer for the trader. However, their "Instant" accounts use a trailing drawdown.
- Numeric Example (WSF Static): On a $100,000 "Ultra" account with a 10% static drawdown, your loss floor is permanently fixed at $90,000. No matter how much profit you generate, that floor never moves up.
Daily drawdown
AquaFunded calculates the daily limit based on the highest value between equity and balance. The percentage varies significantly between 2% (Instant Flex) and 5% (2 Step Standard).
Wall Street Funded utilizes an EOD (End of Day) High-Watermark. This means the daily limit is recalculated at the end of the trading day based on the highest balance or equity recorded.
- Numeric Example (WSF): If you start with $100,000 and a 5% daily limit ($5,000), your floor is $95,000. If you end the day at $102,000, the next day your limit is calculated from that $102,000, making your new floor $96,900.
Rules beyond drawdown
The risk profile of these firms is heavily influenced by their internal restrictions:
- Consistency Rule: Both firms have one. AquaFunded limits a single day's profit to a percentage of the total (e.g., 20% on Instant Standard). Wall Street Funded also applies this to Instant accounts (15% to 30%).
- Stop Loss: AquaFunded does not require a Stop Loss. Wall Street Funded strictly mandates an SL within 2 minutes of trade execution. Failing to do so is a contract violation.
- Risk per Trade: Wall Street Funded prohibits risking more than 50% of your daily drawdown on a single trade idea. AquaFunded has a specific "Maximum Risk Limit" where the account is closed if floating PnL drops below -2% of the balance (applies to Instant and TryAqua plans).
Risk that comes from the setup
The technical environment adds another layer of risk. Both firms offer MetaTrader 5, MatchTrader, and cTrader, providing a variety of execution environments. AquaFunded adds TradeLocker, while Wall Street Funded offers DXTrade. The choice of platform is vital; a laggy platform can cause slippage that triggers a tight daily drawdown.
Regarding trading styles, Wall Street Funded is significantly more restrictive. They prohibit trades shorter than 60 seconds and enforce a hard "no-trading" rule during news for funded accounts. AquaFunded is more flexible with news for accounts opened after April 2026, allowing it but capping the profits at 0.5% of the initial balance per event. This cap prevents "gambling" on news but doesn't necessarily result in losing the account immediately.
What is at stake and what you recover
The initial fee is the primary risk.
- AquaFunded is generally more affordable for large accounts; a $100,000 "1 Step Pro" account costs $459. You recover this fee only after your 4th payout.
- Wall Street Funded charges $509 for a $100,000 "Ultra" account. However, they return the initial fee much earlier, with the 2nd payout.
Payout fees are another factor: AquaFunded charges a $35 flat fee for Rise payouts over $1,000. Wall Street Funded does not explicitly document a payout fee in the provided data, which is a risk factor as fees might be applied by the processor (Rise/Crypto) without the firm's transparency.
Frequently asked questions
Which firm is cheaper for a $100,000 evaluation, AquaFunded or Wall Street Funded?
AquaFunded is the more economical option for this size. Its "1 Step Pro" $100,000 account is priced at $459, whereas the "Ultra" (2-step) $100,000 account at Wall Street Funded costs $509.
Does AquaFunded or Wall Street Funded have stricter rules regarding Stop Loss?
Wall Street Funded is much stricter, as it requires a Stop Loss to be placed within two minutes of opening any trade. Failing to do so is considered a rule violation. In contrast, AquaFunded does not have a mandatory Stop Loss requirement.
Which firm allows news trading on funded accounts, AquaFunded or Wall Street Funded?
AquaFunded is more permissive; for accounts opened after April 2026, it allows news trading but caps profits at 0.5% of the initial balance per event. Wall Street Funded strictly prohibits opening or closing positions on funded accounts within a 4-minute window around high-impact news events.
Who provides a faster refund of the evaluation fee, AquaFunded or Wall Street Funded?
Wall Street Funded provides a faster refund, returning the initial payment with your second payout. AquaFunded requires you to reach your fourth payout before they refund the evaluation fee.
