What you are signing up for
An evaluation is a test in a simulated environment where you must prove you can trade responsibly before receiving a funded account, which is a virtual account that allows you to earn real profit shares. Neither firm offers a free trial, meaning you must pay from day one.
- Hola Prime Futures offers the "1-Step Prime Challenge" starting at $99 for a $25,000 account.
- Papaya Funding Futures offers the "Papaya One" or "Signature" evaluations, with the $25,000 "Signature" plan starting at $129.
Both firms use a monthly subscription model. This means you pay every 30 days until you either pass the test or cancel the service.
How hard each one is
The difficulty is defined by the profit target, which is the specific amount of gain you must reach to pass, and the drawdown, which is the maximum loss your account is allowed to hit before being closed.
- Profit Target: Both firms require a 6% gain. For a $50,000 account, you must earn $3,000.
- Drawdown: Both use an "End-of-Day (EOD) Trailing Drawdown." This is a loss limit that follows your highest balance, but it only updates when the trading day ends. This is friendlier for beginners because it doesn't penalize you for profits that disappear during the middle of a trade.
- Daily Loss Limit: Hola Prime does not have a daily cap on its Prime evaluations. Papaya includes a daily drawdown of 2% on its "Instant" accounts, though not explicitly on all evaluation phases.
How long it takes
Both companies offer "1-Step" evaluations, meaning you only need to pass one single testing phase to get funded.
- Minimum Days: Hola Prime has no minimum trading days, so you can pass as soon as you hit the target. Papaya also has no fixed deadline to finish.
- Inactivity: You must remain active. Hola Prime requires at least one trade every 7 days. Papaya will close your account if you go 30 consecutive days without trading.
Where beginners fail
Most beginners lose their accounts due to the consistency rule, which ensures your success isn't just a lucky "gambling" trade on a single day.
- Consistency: Hola Prime requires that no single day accounts for more than 40% of your total profit. Papaya is stricter, requiring 40% for "One" accounts and 50% for "Signature" accounts.
- News Trading: This involves trading during high-impact economic announcements. Hola Prime allows this freely. Papaya prohibits opening or closing trades within 3 minutes before or after major news.
- Stop Loss: A stop loss is an automatic order to close a trade at a certain loss level. Hola Prime makes this mandatory once you are funded.
What happens if you make it
Once you pass, you move to a funded phase where you keep a portion of the profits.
- Profit Split: Both firms give you 90% of the profits you generate.
- Payout Frequency: Hola Prime allows withdrawals every 7 days. Papaya allows them every 5 days.
- Minimum Withdrawal: Hola Prime has a minimum as low as $250 for small accounts. Papaya requires at least $500.
- Platforms: You will need software to trade. Hola Prime offers NinjaTrader and Tradovate. Papaya offers DXFutures, Volumetrica, and Rithmic.
If it is your first time
For a first-time trader, Hola Prime Futures is the better choice. It is cheaper to start ($99 vs $129 for the smallest account), and it does not restrict you during news events. Papaya’s news rules and higher consistency requirements (up to 50%) create more "invisible" ways for a beginner to fail the test by accident.
Frequently asked questions
Which firm is cheaper to start a $25,000 evaluation, Hola Prime or Papaya Funding?
Hola Prime is more affordable for beginners, as its 25K Prime Challenge costs $99 per month. In comparison, Papaya Funding charges $129 for its 25K Signature account or $154 for its 25K One account.
Which firm has a more flexible consistency rule, Hola Prime or Papaya Funding?
Hola Prime is more flexible with a 40% consistency rule. Papaya Funding is more demanding, as it requires a 40% consistency for its "One" plan and increases that requirement to 50% for the "Signature" plan, making it harder to pass if you have one very successful day.
Can I trade during economic news with Hola Prime and Papaya Funding?
Hola Prime allows news trading without restrictions. However, Papaya Funding prohibits opening or closing positions 3 minutes before and after high-impact news events, which can lead to profit removal or account closure if ignored.
Who pays out faster, Hola Prime or Papaya Funding?
Papaya Funding has a faster payout cycle, allowing traders to request withdrawals every 5 days. Hola Prime requires a 7-day cycle from the first trade of the period before you can request your profit share.
