What you are signing up for
A "challenge" or evaluation is a test in a simulated environment where you must prove you can trade profitably while following strict risk rules. If you pass, the firm grants you access to a funded account where you keep a percentage of the profits.
To enter, you pay an access fee. Neither firm offers a free trial (a zero-cost demo to practice before paying).
- SFX Funded: A $10,000 account starts at $119 for their 1-Step Pro plan.
- Wall Street Funded: They are generally cheaper for beginners, with a $10,000 "Ultra" account costing $89.
How hard each one is
The biggest hurdle for a beginner is the "drawdown," which is the maximum loss you are allowed to have before your account is closed.
- SFX Funded mostly uses "trailing drawdown." This means your loss limit moves up as your account balance grows. If you gain $1,000, your floor moves up by $1,000, making it harder to manage. Only their "Ascend" plan offers a "static drawdown," which is a fixed limit that stays the same regardless of your gains.
- Wall Street Funded uses "static drawdown" for their evaluation phases. This is much friendlier for beginners because your safety net doesn't move.
You must also reach a "profit target," which is a specific percentage of gain required to pass. SFX Funded targets range from 3% to 9%, while Wall Street Funded usually requires 8% to 10% in the first phase.
How long it takes
The "phases" are the number of steps you must complete to get funded. Both firms offer 1-step (faster) and 2-step (usually cheaper) options.
- SFX Funded: Requires a minimum of 4 trading days for 1-step and 5 days per phase for 2-step.
- Wall Street Funded: Does not list a strict minimum of trading days to pass the evaluation, but you must have 4 days with at least 0.5% profit before you can request your first payout.
Where beginners fail
Beginners often fail due to "consistency rules," which are designed to ensure your success isn't just a lucky gamble on a single trade.
- SFX Funded uses the "SFX Stability Index" (SSI). If one trade or one day represents too much of your total profit (usually over 15% to 25%), you may not be eligible for a payout.
- Wall Street Funded has a "maximum winning day" rule. On their Instant Pro accounts, for example, your biggest day cannot exceed 15% of your total profit.
Another trap is "news trading" (placing trades during major economic announcements). SFX restricts trading 2 minutes before and after high-impact news. Wall Street Funded is stricter, prohibiting opening or closing trades in a 4-minute window around the news.
What happens if you make it
If you pass and earn profits, you get a "payout" (your share of the money) and a "refund" of your initial fee.
- SFX Funded: Offers an 85% profit split. However, you only get your fee back with your fifth successful payout, which is a very long wait for a novice.
- Wall Street Funded: Offers an 80% split. They are more generous with the refund, returning your fee with your second payout.
For platforms, SFX offers MetaTrader 5 and MatchTrader. Wall Street Funded provides more variety, including cTrader and DXTrade.
If it is your first time
For a first attempt, Wall Street Funded is the more logical choice.
- It is cheaper to buy.
- It uses static drawdown during the evaluation, so your loss limit doesn't "chase" your profits.
- You get your money back much faster (2nd payout vs 5th payout at SFX).
SFX Funded is better suited for experienced traders who want a higher profit split (85%) and can handle the complexity of trailing drawdowns and the SSI consistency index.
Frequently asked questions
Which firm is cheaper for a $10,000 evaluation, SFX Funded or Wall Street Funded?
Wall Street Funded is cheaper for a $10,000 evaluation. Their "Ultra" 2-step account costs $89 and their "Classic" 1-step costs $99. In comparison, SFX Funded charges $119 for its "1-Step Pro" account of the same size.
Does SFX Funded or Wall Street Funded have easier drawdown rules for beginners?
Wall Street Funded has easier rules because it uses static drawdown for its evaluation accounts, meaning your loss limit stays fixed. SFX Funded uses trailing drawdown for most of its plans (except Ascend), which means the loss limit rises as you make profits, making it easier to accidentally violate the rule.
Which firm returns the initial fee faster, SFX Funded or Wall Street Funded?
Wall Street Funded returns the initial fee much faster, as the refund is processed with your second payout. SFX Funded requires you to reach your fifth successful payout before they unlock the refund of your evaluation fee.
Which firm offers more trading platforms, SFX Funded or Wall Street Funded?
Wall Street Funded offers a wider variety of platforms, including cTrader, MetaTrader 5, MatchTrader, and DXTrade. SFX Funded is more limited, offering only MetaTrader 5 and MatchTrader to its clients.
