What you are signing up for
A prop firm evaluation is a test where you trade with simulated money to prove you can be profitable while following strict risk rules. If you pass, you receive a "funded" account where you keep a percentage of the profits you generate.
- Cashed: You pay a single activation fee upfront. Prices are very accessible for beginners, starting as low as $5 for a small account.
- Leveraged Crypto: They use a "pay after you pass" model. You pay a tiny entry fee of $8.88 to start the test. However, if you pass, you must pay a much larger activation fee (for example, $80.12 for a $10,000 account) to get your funded account.
How hard each one is
The difficulty depends on the "profit target" (the amount of money you must earn to pass) and the "drawdown" (the maximum loss allowed before you fail).
- Targets: Cashed requires an 8% to 10% gain depending on the plan. Leveraged Crypto is slightly easier with a 6% target.
- Risk Limits: Cashed uses a "static drawdown." This means your loss limit is a fixed floor based on your starting capital that never moves. Leveraged Crypto uses a "trailing drawdown." This is harder for beginners because the loss limit follows your balance as you make profits, "locking in" at your starting balance once you reach a 6% gain.
How long it takes
For a beginner, pressure is the biggest enemy.
- No time limits: Both firms are excellent for first-timers because they have no maximum trading days. You can take months to pass if you need to.
- Minimum days: Cashed allows you to pass in 0 days (instantly if you hit the target). Leveraged Crypto requires you to trade for at least 3 days on the funded stage before you can ask for your first payout.
Where beginners fail
Most beginners lose their accounts not because they are bad traders, but because they break technical rules.
- Cashed Rules: They are very flexible. They allow "Martingale" (doubling your bet after a loss) and have no "consistency rule," which is a requirement to keep your daily profits within a certain average.
- Leveraged Crypto Rules: They are much stricter. They have a 20% consistency rule, meaning no single day can account for more than 20% of your total profit. They also prohibit "News Trading," which means you cannot open or close trades 5 minutes before or after major economic announcements.
What happens if you make it
Once you pass the evaluation, you want to get paid.
- Platforms: Cashed uses its own proprietary web platform. Leveraged Crypto allows you to use MetaTrader 5 or cTrader, which are the industry standards for professional charting.
- Payouts: Cashed pays on demand via USDC (a digital dollar) on the Solana network. Leveraged Crypto makes you wait 14 days for your first payout and offers more traditional methods like bank transfers or Revolut.
If it is your first time
Cashed is the better choice for a complete beginner. The "static" loss limit is much easier to understand and manage than the "trailing" limit at Leveraged Crypto. Also, the ability to start for just $5 allows you to practice the "real feel" of an evaluation with almost zero financial risk. Leveraged Crypto is better only if you already know how to use MetaTrader 5 and feel comfortable with strict consistency rules.
Frequently asked questions
Which is cheaper to start a first evaluation, Cashed or Leveraged Crypto?
Cashed is cheaper for the very smallest accounts, offering a $400 account for a total price of $5. Leveraged Crypto has a fixed entry fee of $8.88 for all account sizes, but it is ultimately more expensive because you must pay an activation fee after passing (ranging from $80.12 to $980.12) which Cashed does not charge.
Which firm has easier loss limits for a beginner, Cashed or Leveraged Crypto?
Cashed is easier because it uses a static drawdown of 6% to 7%. This means if you have a $10,000 account, your "floor" is always the same. Leveraged Crypto uses a trailing drawdown of 6%, which means the loss limit moves up as your account balance grows, making it much easier to accidentally breach the rule during a market pullback.
Does Cashed or Leveraged Crypto have more trading restrictions?
Leveraged Crypto has significantly more restrictions, including a 20% consistency rule and a ban on trading during high-impact news events. Cashed has no consistency rule and allows news trading, making it a much more flexible environment for someone still learning their trading style.
Which firm pays out profits faster, Cashed or Leveraged Crypto?
Cashed is faster. On their Instant and Standard plans, payouts can be requested on demand or every 48 hours once you have profit. Leveraged Crypto requires you to trade for at least 14 days before your first payout, and you must have at least three separate days with a 0.5% profit each to qualify.
