Base rates, rule mechanics and troid's own conflicts — the things a landing page leaves out.
The largest independent dataset covers more than 300,000 accounts from roughly 100,000 traders across 10 firms. About 14% passed a challenge and reached a funded account. Only about 7% of everyone who bought a challenge ever got paid.
Most firms self-report pass rates in the 5–10% range.
Source: FPFX Technology aggregate data; individual firm disclosures.
The average trader needs about three attempts, spending over $1,600 in fees for a $100,000 challenge.
Put the two numbers together: for most participants the expected value of a challenge fee is negative. That is not a controversial claim, it is what the pass-rate data implies arithmetically.
Roughly 70% of failures are loss-limit breaches — daily loss or maximum drawdown. Most happen in the first week. Very few people fail by reaching the end of the evaluation period and missing the profit target.
One firm's own summary puts it plainly: almost all failures trace back to size, not to strategy selection. People do not blow accounts because their entries are bad. They blow them because one position was too large on a day that went wrong.
A free, open risk tool and the research behind it. It sizes positions against both of a firm's loss ceilings at once, net of fees, and tells you which one is actually binding. It does not publish trade signals and it will never place a trade.
troid built it because the failure data points at sizing, not entries. Whether you use troid's desk, someone else's tool, or a spreadsheet, the arithmetic is the part worth getting right.
A prop challenge is an evaluation you pay for. The account you trade is usually a demo account. Your orders do not reach a real market, and the balance is not money you own. If you pass, the firm may pay you a share of simulated profits, on its own terms. In general, the firm is not a broker and holds no client funds. The fee buys the evaluation. It is not a deposit. So, in most cases, no broker regulation, client-money rule or investor-compensation scheme protects the account. Apart from the general consumer-protection law where you live, your protections are the firm's contract and nothing else. Read the contract before you pay: who you are contracting with, which country's law applies, what ends an account, and when a payout can be refused. A few firms also offer a route through a real exchange account. Check which kind you are buying.
On a $100,000 1-Step account it is a fixed $4,000 — 4% of the initial balance, not of the day's starting balance. The day's loss is measured from your balance at the reset, and it counts floating losses on open positions, not just closed ones.
But it often is not the constraint that matters. The 6% maximum loss is static at $94,000. Below roughly $98,000 of equity, the distance to that static floor is smaller than your daily allowance, so the max loss becomes the real ceiling and the "4% daily" number is fiction.
On a fresh account that crossover is about $2,000 away — half of one bad day. Size against the smaller of the two, always.
00:00 UTC+8, which is 16:00 UTC — noon in New York, not midnight. Your morning and afternoon sessions draw on separate daily budgets. The platform's settlement can delay the reset by up to ten minutes, to 16:10 UTC, so don't count on a fresh daily budget before then.
The trap: a floating loss that survives the reset counts in full against the new day, because the previous day's profit does not carry over. A position comfortably inside the limit at 11:59 can breach at 12:01 without price moving at all. Bitfunded documents this themselves.
The right number depends on your system, so troid is not going to give you one. What it can show you is what the arithmetic does to the wrong one.
troid simulated a trader with a genuinely excellent edge — +0.35R per trade, better than most professionals sustain. Risking 1% per trade with no cap on remaining budget, that trader blew the account 68% of the time within twelve months. At 2%, 98%. Capping each trade at a fraction of the remaining budget rather than a fixed slice of the balance took all of those to 0%.
A real edge is not enough on its own. Under a 4%/6% rule set, position sizing decides whether you survive long enough to use it.
More than most people model. Bitfunded charges 0.04% of position size on entry and again on exit, calculated on notional — which at 5× leverage is five times your margin.
Because notional scales inversely with stop distance, tight stops are punished hardest. A stop 3.9% away costs about 2% of your risk budget in fees. A 0.3% scalp stop costs 21%. On a $500 risk that is $105 gone before price moves.
Two ways, and only one exists yet.
troid is an independent affiliate of the firms it compares. When someone buys a challenge through one of its links or codes, that firm pays troid a commission. It's paid on the purchase, not on your result — troid would be paid if you failed. Where a code is shown, it's cheaper through the affiliate link; where it isn't, it's the same price. That's worth knowing, and worth weighing everything on this site against. Which firms, and the criterion for choosing them, is stated on troid's compare and reviewed quarterly.
The second way, later, is a paid tier for people who want more than troid's desk — the MCP server, journal analysis, multi-account tracking. That revenue doesn't depend on anyone buying a challenge, which is deliberate.
Don't, on troid's say-so. Everything above is checkable: the pass-rate data is published, Bitfunded's rules are in their own documentation, and troid's backtest code is open — you can run it and get the same numbers, including the unflattering ones.
troid's ledger publishes its own results every four hours, losses included. troid's own strategy tested out of sample at +0.008R over 504 trades — no edge — and the page says so.
Yes, for 30 days. Each conversation is kept under a random session ID, shown under the message box, and deleted automatically 30 days after its last message. troid keeps your messages, ask troid's replies, the tools it used with their inputs and results, the rule sources and read dates it cited, the page's language and the AI model used; never your IP address, your browser's user agent, your name or an account. It keeps them to answer disputes about what ask troid said, to correct errors and to check that ask troid keeps to its guardrails. Only the company that runs troid can read them. They are never sold and never used for marketing or to train an AI model. To delete a conversation sooner, use “delete this conversation” under the message box, or write to hello@troid.ai with the session ID. Section 10 of troid's terms has the detail.
troid doesn't answer that for anyone; it prices what you bring. The arithmetic is the same for every reader: a trader who cannot state an edge, an average win-to-loss ratio, and the losing streak their sizing survives will find those out from a challenge, at $799, faster than from a spreadsheet at no cost. The base rates on this page are the rest of it.
troid's compare has the affiliate links and codes, and the criterion for which firms are on it. They're how troid is funded, and they cost you nothing extra. Direct is the same price where no code is shown.
Everything on this site is general information and education. It is not financial, investment, trading, tax, or legal advice, and it does not account for your circumstances, objectives, or risk tolerance. troid and the people who run it are not licensed financial advisors, brokers, or registered investment professionals. Consult a qualified professional before making financial decisions.
troid is an independent affiliate of the firms it compares. It earns a commission on challenge purchases made through its links or discount codes. It is not an employee, agent or representative of any firm, and no firm owns or operates this website or is responsible for its contents. The current firms, and the criterion for choosing them, are on troid's compare.
Prop challenges and funded accounts are generally simulated trading environments. What is a prop challenge, really? above says what that means for your protections. Read the firm's terms yourself.
The hypothetical-performance disclosure, in the regulator's own words, is in troid's terms, section 6, and beside every result on troid's ledger and troid's research. troid's published backtests cover BTC and ETH on one exchange feed; the out-of-sample test showed no measurable edge, and troid publishes that result rather than the in-sample one.
Challenge fees are generally non-refundable if you fail. Breaching a firm rule can void accrued profits, terminate the account, or trigger a payout penalty — not merely end the evaluation. Firms change their terms, and troid's rule summaries can lag those changes.
Nothing troid publishes is a substitute for reading the firm's own Terms of Use. Where the two disagree, the contract governs — troid has already found one case where a firm's own challenge page displays a figure that contradicts its Terms.
Two rules deserve specific attention because they are commonly missed. Bitfunded's Terms prohibit using third-party or marketed strategies to pass an evaluation, so buying a strategy, bot, or signal service and running it on a challenge may place you in breach regardless of how it performs. And traders are limited to one active account per challenge level absent written consent, which caps multi-account plans well below what most people assume.
troid's tools compute arithmetic against rules as it understands them at the time of writing. They cannot detect a rule it has not modelled, a term that changed after publication, or a firm-specific interpretation. Verify anything material with the firm directly — Bitfunded provides support tickets for rule clarification.
Beyond the affiliate relationship above, troid is not affiliated with, employed by, endorsed by, or authorised to speak for any prop firm.
Trading leveraged cryptocurrency carries substantial risk. Most participants in prop firm evaluations do not receive a payout. Challenge fees are generally non-refundable. Never risk money you cannot afford to lose.
troid's tools are provided as-is, without warranty of any kind. They perform arithmetic on numbers you supply. They do not place, modify, or close trades, and they never handle account credentials. You are responsible for verifying any output before acting on it.
Availability and legality of prop firm services vary by country. It is your responsibility to confirm you are eligible to participate where you live.
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troid is a free informational tool, not financial or investment advice. troid does not place trades or publish trade signals. Its shadow account is a simulated strategy, shown only after trades close. Prop-firm rules change without notice — verify every number with the firm before trading. troid is an independent affiliate of the firms it compares and earns a commission on purchases through its links; this does not affect the calculations or comparisons. Crypto Fund Trader does not own or operate this website and is not responsible for its contents. It is owned by troid, an independent marketing affiliate.
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