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PAY LATER MODEL

Updated this week

What is the Pay Later challenge?

This is a 1-phase evaluation challenge designed to provide traders with a straightforward path to becoming funded. Once you pass the evaluation phase, you will receive a live funded account — no second phase required.

How much does it cost to join?

The initial cost is only $5, which covers server and infrastructure expenses.

You will only be required to pay the full challenge fee after passing the evaluation, just before receiving your funded account.

Pass first — pay later.

How does the evaluation phase work?

You only need to complete one phase to get funded.

There is no daily drawdown during the evaluation phase.

The maximum drawdown is 8% trailing, calculated based on the highest value between equity and balance at the time of market rollover.

You must reach a profit target of 4% of your initial balance.

There is no minimum or maximum number of trading days required during the evaluation.

There is no consistency rule in the evaluation phase.

What happens once I’m funded?

Once you pass the evaluation and pay the full challenge fee, you’ll receive a live funded account with the following rules:

Maximum drawdown becomes 6% trailing, using the same model as during the evaluation (see below for details).

A daily drawdown of 3% is applied, calculated on the highest value between balance and equity at the time of market rollover.

You are required to complete at least 3 trading days to request your first payout.

A “trading day” is any day where you generate at least 0.5% profit of your initial balance.

A consistency rule applies:

Your most profitable day must account for no more than 20% of your total profit for the payout period.

How does the maximum drawdown work?

The maximum drawdown is trailing, based on the highest value between balance and equity at the time of market rollover ( 5 PM EST).

Here’s how it works:

It moves up when your balance or equity hits a new high at rollover.

It never moves down, even if your equity decreases.

Once the trailing drawdown level reaches your initial balance, it becomes locked and stops moving.

After a payout, the trailing drawdown is reset to 6% below the initial balance (in the funded stage).

Drawdown levels:

Evaluation phase: 8% trailing

Funded stage: 6% trailing

This model protects your gains while enforcing disciplined risk management.

Is there a daily drawdown?

Evaluation stage: ❌ No daily drawdown

Funded stage: ✅ Yes — 3% daily drawdown, based on the highest value between balance and equity at the time of market rollover.

Can I hold trades overnight or over the weekend?

Yes, holding trades overnight and over the weekend is fully allowed — both in the evaluation and funded stages.

Is there a minimum or maximum number of trading days?

Evaluation Stage: No minimum or maximum number of trading days required.

Funded Stage: You must complete at least 3 trading days before requesting a payout.

(A trading day must generate 0.5% profit of the initial balance or more.)

What is the consistency rule?

The consistency rule only applies to the funded stage.

To be eligible for a payout:

Your most profitable trading day must represent no more than 20% of your total profits for the payout period.

There is no consistency rule during the evaluation phase.

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