Passing a prop trading challenge is an important step, but it is not the end of the process. Once traders move to a funded account, they still need to follow the account rules and manage their trades carefully.
At this stage, the goal is no longer just to meet the challenge requirements. Traders need to focus on managing their account, controlling their risk, and following their trading plan while staying within the firm’s rules.
For traders using Upcomers, knowing the funded account requirements can make the transition easier. This guide covers what traders can expect after passing a prop trading challenge and the key things to keep in mind when trading a funded account.
What is a Trading Challenge?
A prop trading challenge is a test that traders must complete and pass before getting access to a funded account. The trader uses a simulated account and follows the rules set by the trading firm.
These rules may include reaching a profit target, staying within daily and maximum drawdown limits, meeting a minimum number of trading days, and following the firm’s risk management rules. If the trader meets the requirements, they may qualify for the next stage or a funded account, depending on the program.
After passing a prop trading challenge, there is usually an onboarding process before you can start trading a funded account. The steps and timing can vary depending on the firm.
You need to complete KYC verification, submit identification documents, and sign a trader agreement. The firm may also review your challenge account to make sure you have met the required rules and conditions.
For Upcomers, the next steps depend on the account and program requirements. Once the required checks are completed, you will receive further instructions about your funded account. This may include information about your account access, trading conditions, applicable rules, and any requirements that need to be completed before you begin trading.
Processing times can vary by firm and may depend on the specific account and required checks. It’s best to check the current requirements and guidance for your specific program so you know what to expect
The Best Day Rule is missing
This is particularly relevant to an article called “What Happens After You Pass a Prop Trading Challenge?”
The current Upcomers documentation specifically says the Best Day Rule applies in the funded phase of challenge programs, but not during the evaluation phase. The applicable limit is 15–20% depending on the account.I strongly recommend adding this under Understanding Your Funded Account Rules:
“One important requirement to check after entering the funded stage is the Best Day Rule. For applicable Upcomers accounts, no single trading day can account for more than 15–20% of total profit at the time of payout, with the exact limit depending on the account. This is a soft rule: exceeding the applicable limit does not breach the account, but the trader must continue trading until the profit distribution meets the requirement before requesting a payout.”
That accurately reflects the current rule.
Here’s a concrete example,
You passed your challenge trading Gold (XAUUSD) with 0.50 lots, and you were careful to avoid news events because you thought they were risky.
After you get your $100,000 funded account, you re-read the funded rules and see: