What you are signing up for
An evaluation is a practice test on a demo account where you must prove you can make money while following strict risk rules. If you pass, the firm gives you access to a funded account where you keep a percentage of the real gains.
To start, you pay a one-time entry fee. Neither firm offers a free trial, so your first attempt requires an investment.
- Tradexprop: You can start with a small $5,000 account for $35 (2-step) or $45 (1-step).
- Wall Street Funded: Their smallest $2,500 account starts at $23 (2-step), while a $5,000 account costs $49 (2-step) or $59 (1-step).
How hard each one is
The difficulty depends on two main numbers: the profit target (the specific amount of money you must earn to pass) and the drawdown (the maximum loss you are allowed to hit before your account is closed).
- Profit Targets: In a standard two-step evaluation, Tradexprop asks for 8% in the first phase and 5% in the second. Wall Street Funded is slightly more demanding on some plans, asking for 10% then 5% on their "Ultra" accounts, though their "Classic" plan matches the 8%/5% standard.
- Drawdown Rules: This is the "margin of error." Tradexprop uses a "static drawdown," which is the most beginner-friendly version because the loss limit is always calculated from your starting balance and never moves. Wall Street Funded uses a "Balance or Equity EOD" rule for daily limits, meaning your limit resets every night based on the higher of your balance or your open trades' value.
- The "Trailing" Trap: Both firms offer "Instant" accounts that skip the test, but these use "trailing drawdown." This means the maximum loss limit follows your profits upward, making it much easier to fail as you grow the account.
How long it takes
Beginners often feel pressured by clocks. Fortunately, both firms offer "unlimited trading days," meaning you can take months or even years to reach your goal.
- Minimum Days: Tradexprop has 0 minimum trading days. You could theoretically pass in one day if you hit your target.
- Profitable Days: Wall Street Funded requires "4 profitable days" on some plans, where you must earn at least 0.5% profit on four separate days. This prevents you from passing purely by luck on a single trade.
Where beginners fail
Most first-timers lose their accounts because of "hard breaches"—rules that immediately disqualify you.
- Stop Loss Rule: Wall Street Funded requires you to place a Stop Loss (an automatic order to close a trade at a specific loss) within two minutes of opening any trade. Forgetting this once can end your challenge. Tradexprop does not require a Stop Loss, giving you more freedom, though it is always recommended.
- News Trading: Both firms restrict trading during high-impact news events (like government employment reports). Tradexprop bans opening trades 3 minutes before or after news. Wall Street Funded bans opening or closing trades in a 4-minute window around the event on funded accounts.
- Consistency Rule: This rule prevents you from making all your profit on one lucky "gambling" trade. Tradexprop requires that no single day accounts for more than 45% of your total profit. Wall Street Funded has stricter limits (15% to 30%) but only on their Instant accounts.
What happens if you make it
If you pass the test, you become a funded trader.
- Profit Split: You keep 80% of what you earn on both firms. Wall Street Funded allows this to scale up to 95% if you perform well over time.
- Getting Paid: Tradexprop pays bi-weekly (every 14 days) for evaluation accounts. Wall Street Funded offers faster payouts, as frequent as every 5 days on their two-step and instant accounts after the first withdrawal.
- Platforms: You will trade on software like cTrader, MatchTrader, or DXTrade. Wall Street Funded also offers MetaTrader 5 (MT5), which is the most famous platform in the industry.
If it is your first time
For a complete beginner, Tradexprop is the safer recommendation.
The main reason is the lack of a mandatory Stop Loss rule. While using a Stop Loss is a vital habit, a beginner is very likely to forget to set one within the strict two-minute window required by Wall Street Funded, leading to an accidental and frustrating disqualification. Additionally, Tradexprop's 0 minimum trading days and simpler static drawdown on evaluation accounts provide a less complex environment for your first attempt at professional trading.
