I am attempting to decide whether to open an evaluation account or a quick-funded account with a prop firm. Is there any advantage to starting with an evaluation account rather than moving directly to the instant funded option?
What criteria should I consider when making this decision?
Thank you for your insight!
Before you get any money to trade with in an evaluation account, you have to prove your trading prowess by passing an exam. This solution has no upfront costs. On the other hand, a quick-funded account costs money up front but lets you trade right away. When selecting an alternative, consider your trading background, financial constraints, desired start date, acceptable level of risk, and the details of the prop firm.
Should there be an additional cost, it is probably going to be less than what you would have to pay for an account that offers fast funding. In certain circumstances, there might not be any cost at all. From company to company, it differs. You may be eligible for another attempt, possibly even at no cost, if you do not pass the assessment.
Starting with an Evaluation Account requires less initial investment but takes longer to generate profits compared to Instant Funding.