How Challenges Work

Trade, test and refine your strategy in real market conditions

Up to 80%Profit Share
$460KMax Account
2,500+US Stocks & ETFs
No time limitIn Challenge Phase

The journey to becoming
a TEFS Funded Trader

Choose yourevaluation
Select the simulated account size that fits your strategy, ranging from $5,000 to $200,000.
Pass theAssessment
Prove your skills in a single phase. Hit the 10% profit target without breaching the daily or maximum drawdown limits.
Generate simulated profits. Secure your performance payouts
Once you pass, you become a verified TEFS Funded Trader. You will receive an 80% profit share based on your performance and simulated profits you generate.

Rules of the evaluation

Simple rules. No surprises

We replaced complex, multi-stage evaluations with a single one-step phase — so you can focus on your strategy, not complicated rules.

How to Complete a Challenge

Simulated Profit Target: 10%

Grow your account balance by 10% to pass the challenge

4 Minimum Trading Days

You only need to execute simulated trades on 4 individual days to be eligible for a provider account

Unlimited Evaluation Period

Take your time. There is no deadline to hit your target. Execute your simulated strategy stress-free

The Guardrails (Risk Rules)

6% — Max Total Drawdown

Your equity must never drop below 94% of your initial account size

Why this is better: Unlike other firms that use "Trailing Drawdowns" (which move up as you profit and shrink your room to breathe), our drawdown is Static. It stays fixed at the starting level

On a $100k account, your hard stop is $94k

If you grow the account to $108k, your hard stop remains at $94k — giving you a massive $14k buffer

4% — Max Daily Loss

Limits how much you can lose in a single day. Resets every day at Midnight NY time. Calculated on simulated equity — both realized and unrealized losses count

HOW DAILY LOSS IS COUNTED

Your floating P/L counts against the daily limit — instantly

To protect the integrity of the simulation, Daily Loss is calculated on your simulated equity, not just your balance. That means even a losing trade you haven't closed yet is counted against your daily drawdown in real time.

Realized lossesLosses from trades you have already closed.

Unrealized lossesLosses from trades still open. Even if you haven't closed that losing position, the floating loss is counted immediately.

Important

Even if you still hold a losing trade and haven't closed it, that floating loss counts against your Daily Drawdown total immediately.

Same rules. Different outcomes

Trading Case Study

Learn more about risk rules

Success scenario

You have passed. You will receive your credentials for the simulated verified provider account

Profit Target

+10%(+$10,000)

$110,000Ending balance

Day start
Midday
Day end

FAQ

Questions & answers

Here you can find answers to frequently asked questions about our simulated evaluation, payouts, and more.

Evaluation Rules

Is TEFS a true one-step simulated trading evaluation?

Yes. Unlike traditional platforms that require multiple stages, TEFS offers a streamlined one-step simulated evaluation. Once you hit the 10% simulated profit Target and meet the minimum simulated trading days without breaking the risk rules, you are instantly eligible to upgrade to a Verified Provider Account.

What simulated assets can I evaluate on the platform?

Earnings & Payouts

How fast are Performance Payments processed compared to traditional models?

What happens after I pass the TEFS evaluation?

Risk & Environment

How does the Daily Loss limit work in your simulated trading challenge?

Do I need to risk my own capital, or do you provide simulated funds?

Fees & Refunds

Is the initial simulated evaluation fee refundable?

Start now

Simulated accounts. Real-market conditions

Stop practicing on demo environments.
Trade in real market conditions with clear rules and defined targets

Start your Challenge Sign up

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