Prop firms use the same words for different things. This page defines every term Rex renders, says how it behaves in each market, and links to the challenge options that actually match it, so a definition can be checked against the data rather than taken on trust.
How many phases stand between a purchase and a funded account, and what each phase asks for.
How many evaluation phases precede funding.
How many evaluation phases stand between the purchase and a funded account. Each phase has its own profit target, and Rex keeps them apart rather than adding them up.
For example. A two-step evaluation with a 10% first target and a 5% second target is shown as 10% + 5%, never as 15%.
No evaluation phase and no profit target.
A funded account bought outright, with no evaluation phase. “No target” is a real published value here, which is different from a target the firm simply does not state.
What must be earned to pass one phase.
What must be earned to pass a phase. Forex firms usually publish a percentage of the starting balance; futures firms usually publish a currency amount. The two are different units and Rex never compares them as one number.
For example. City Traders Imperium publishes $1,000 then $500 on its two-step 50K; FTMO publishes 10% then 5%.
The fewest days that must carry a trade before a phase can pass.
The fewest days that must carry activity before a phase can be passed. A minimum number of PROFITABLE days is a different rule with a different test, and Rex records it separately rather than merging the two.
How long a phase may run.
How long an evaluation phase may run. “Unlimited” is a published value; a monthly plan can still end the attempt by ending the subscription, which is why the fee type is shown next to it.
The two limits that end an evaluation or a funded account, and the details that decide when they bite.
A fixed floor below the starting balance that never moves.
A fixed floor below the starting balance. It never moves, so profit does not raise it and a losing day cannot move it closer.
For example. An 8% static limit on a $100,000 account puts the floor at $92,000 for the life of the account.
A floor that rises as the account makes new highs.
A floor that rises as the account makes new highs. Rex always states where it stops rising, because a limit that trails forever behaves very differently from one that locks at the initial balance.
For example. A $2,000 trailing limit on a $50,000 account that reaches $51,500 has a floor at $49,500 — above the starting balance.
Whether a trailing floor moves during the session or only at settlement.
Intraday trailing counts unrealised profit, so the floor can move while a position is open. End-of-day trailing moves only at settlement, so an unrealised spike does not raise the floor. This single distinction changes how much room a strategy actually has.
A per-day loss ceiling, separate from the overall limit.
A ceiling on a single day’s loss. For a percentage Rex shows the basis it is measured against; where the firm publishes what a breach does, Rex shows that too. Where it does not, the field says so instead of assuming the account fails.
What actually happens when a daily limit is hit.
What happens when the daily limit is hit: the account fails, the session locks out, or open positions are flattened. These are very different outcomes, so Rex never infers one from the presence of a limit.
No single day may exceed a stated share of total profit.
No single day may exceed a stated share of total profit. Where it applies matters as much as the percentage: a rule tested at payout can hold back a withdrawal from an account that already passed.
Position size in two different units that are never compared.
Forex plans limit size in lots; futures plans limit it in contracts. They are different units measuring different things, so Rex shows each with its unit and never ranks one against the other.
Every charge Rex records separately, because folding them together hides the real cost.
The evaluation fee, and whether it recurs.
The evaluation fee. A one-time charge and a monthly subscription are not one price scale, so Rex groups prices by currency and fee type and orders amounts only inside a group.
Charges that are not the headline price.
An activation fee is charged when a passed account is turned into a funded one; a reset fee restarts a failed attempt. Neither is folded into the price figure, because doing so would make a cheap-looking plan look cheaper than it is.
When the first payout may be requested, how often afterwards, and what share is yours.
The trader’s share of profit.
The share of profit the trader keeps. Where a firm publishes only a maximum — “up to 90%” — Rex records the maximum and says the base share is not published, rather than treating the ceiling as the standard rate.
When the first payout may be requested, versus how often afterwards.
Two separate facts. “Daily payouts” is a frequency and says nothing about when the first one may be requested; “14 days to pass” is an evaluation rule and is not an eligibility. Rex never derives either from the other, so a page can honestly show a frequency while the eligibility reads “Not published”.
What Rex means by a missing value, a status and a comparison unit.
One purchasable account variant: a challenge at one account size.
One purchasable account variant: a challenge at one account size, with its own price and its own rule set. Rex compares options, never whole firms, because two sizes of the same challenge can differ in price, drawdown and payout terms.
Whether the firm is trading, paused, under review or closed.
A statement about the firm, not about Rex’s data. Almost no firm publishes a status field, so Rex marks an observed status as unverified rather than presenting an inference as evidence.
How much authoritative evidence Rex has gathered for a firm.
Full research means published facts cite at least two distinct authoritative pages controlled by the firm. Partial means only one page is cited so far. It measures Rex’s evidence coverage and says nothing about firm quality, safety or a future Rex Score.
Three different absences that are never merged into one blank.
“n/a” means the concept does not apply to this object. “NOT PUBLISHED” means Rex read the firm’s page and the firm does not state it. “—” means Rex has not collected it yet. Collapsing them into one empty cell would hide which of the three is true.
Every value on this site is read from a page the firm controls, and every value carries the date it was read. The methodology defines the value states and how Data Confidence is calculated; the source registry lists every page behind them.