What is a funded trader program?

A funded trader program (also called a prop firm evaluation or challenge) lets traders access institutional capital after demonstrating consistent risk management in a simulated evaluation. Traders pay a one-time challenge fee, trade a demo account under strict drawdown and profit rules, and upon passing receive a live funded account. Profits are split between the trader (typically 70–90%) and the firm.

What is the difference between daily drawdown and total drawdown?

The daily drawdown limit is the maximum loss allowed within a single trading day — usually measured from the opening equity of that day. The total drawdown limit is the maximum cumulative loss allowed from the initial starting balance at any point during the challenge. A trader can violate the daily limit on an otherwise profitable challenge, so both must be respected simultaneously.

What is the minimum equity floor?

The minimum equity floor is the dollar value your account must never fall below. It equals your starting balance minus the total drawdown limit. For a $100,000 account with a 10% total drawdown limit, the floor is $90,000. Falling to $89,999 at any moment fails the challenge, regardless of your overall P&L trajectory.

How many trades do I need per day to pass a prop firm challenge?

This calculator shows the average daily gain needed, but how many trades that requires depends entirely on your strategy's average R:R and win rate. Use the Risk/Reward Calculator and Expectancy Calculator alongside this tool to determine how many trades at your typical setup quality are needed to generate the required daily dollar gain.

Does this calculator work for futures prop firms like Apex or Topstep?

Yes. The percentage-based formula works for any prop firm evaluation. Futures firms like Apex Trader Funding and Topstep use fixed dollar drawdown limits rather than percentages, so you would enter those as a percentage of your account size (e.g., a $1,500 limit on a $50,000 account = 3%). Check the specific firm's documentation for whether limits are trailing or static.

What is a trailing drawdown vs a static drawdown?

A static drawdown is always measured from the original starting balance (most common). A trailing drawdown moves up as your equity grows — the floor rises with your peak balance, making it harder to stay compliant as you profit. This calculator models static drawdown by default. If your firm uses trailing drawdown, input the effective current floor as your starting balance for a conservative estimate.

How do I use this calculator to compare two prop firms?

Run the calculator twice using each firm's parameters and compare the outputs side by side. Pay close attention to the daily drawdown limit (the tighter this is, the less room for normal volatility), the profit target (higher targets require more aggressive trading), and the trading day window (fewer days means you need higher daily gains). The FTMO Challenge Calculator has pre-filled defaults for FTMO's standard rules.

Funded Trader Calculator

The Funded Trader Calculator is a broker-agnostic prop firm rules calculator that works for any evaluation program — FTMO, The Funded Trader, MyForexFunds, Apex Trader Funding, Topstep, and others. Enter your account size along with the firm's profit target %, daily drawdown limit %, and total drawdown limit % to get every rule expressed in exact dollars. It also shows the minimum account equity floor you must never breach, and the average daily gain required to pass within the challenge period.

Account Size

Profit Target

Max Daily Drawdown

Maximum loss allowed in a single day

Max Total Drawdown

Maximum cumulative loss from starting balance

Trading Days Available

Challenge time limit in calendar or trading days

Profit Target

$4,000.00

Daily Drawdown Limit

$2,000.00

Total Drawdown Limit

$4,000.00

Minimum Equity Floor

$46,000.00

Avg Daily Gain Needed

$133.33

How to use this calculator

1
Enter your account size
Type the funded account size or challenge account size you are targeting — e.g., $10,000, $50,000, or $100,000.
2
Set the profit target %
Enter the profit target percentage required by your prop firm. Common values are 8–10% for Phase 1 and 4–5% for Phase 2.
3
Set the max daily drawdown %
Enter the maximum percentage you can lose in a single trading day before the account is breached. Typical values range from 3% to 5%.
4
Set the max total drawdown %
Enter the maximum cumulative loss allowed from the initial starting balance. Most firms use 6–10% for total drawdown.
5
Enter the trading days available
Input the number of days in your challenge window. Most Phase 1 evaluations allow 30 days; Phase 2 typically allows 60 days.
6
Review all dollar targets
The calculator outputs profit target, daily limit, total limit, your equity floor (minimum balance), and average daily gain needed — all in dollars.

Formula

Profit Target ($)       = Account Size × (Profit Target % ÷ 100)
Daily Drawdown Limit ($) = Account Size × (Max Daily Drawdown % ÷ 100)
Total Drawdown Limit ($) = Account Size × (Max Total Drawdown % ÷ 100)
Minimum Equity Floor ($) = Account Size − Total Drawdown Limit ($)
Avg Daily Gain (%)       = Profit Target % ÷ Trading Days
Avg Daily Gain ($)       = Account Size × (Avg Daily Gain % ÷ 100)

All limits are calculated as a fixed percentage of the initial account balance — the common industry standard. The minimum equity floor is the absolute lowest your account can ever reach without breaching the total drawdown rule. For example, on a $50,000 account with an 8% total drawdown, the floor is $50,000 − $4,000 = $46,000. The average daily gain needed is simply the total profit target spread evenly across available days, giving you a session pacing target.

Worked Example — $50,000 Account, 8%/4%/8% Rules

Account size: $50,000 Profit target: 8% Max daily drawdown: 4% Max total drawdown: 8% Trading days: 30 Profit Target = $50,000 × 8% = $4,000 Daily Drawdown Limit = $50,000 × 4% = $2,000 Total Drawdown Limit = $50,000 × 8% = $4,000 Minimum Equity Floor = $50,000 − $4,000 = $46,000 Avg Daily Gain = $4,000 ÷ 30 = $133.33/day (0.267%/day) Your equity must never fall below $46,000. You cannot lose more than $2,000 on any single day. You need to grow the account to $54,000 within 30 days.

Frequently Asked Questions

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