Two-Step

Two-step evaluations are the most common format in the prop firm industry. The process typically consists of a first phase with a higher profit target (8-10%) and a second verification phase with a lower target (4-5%). This format is designed to verify both the trader's ability to generate profits and their consistency.

The advantage of two-step evaluations is that rules tend to be more relaxed compared to one-step evaluations, with more reasonable cumulative profit targets. However, the process is longer and requires maintaining discipline over an extended period. When comparing firms with two-step evaluations, pay attention to each phase's targets, drawdown limits, and whether there are time limits to complete each stage.