What you will learn
- Account type and legal terms
- Balance versus equity
- Permitted instruments
- Payout and consistency conditions
Account type and legal terms
An evaluation account may be simulated, funded under specific arrangements or subject to stages with different terms. Identify the legal entity and contract. Marketing use of funded does not by itself explain whose capital is traded or how payouts are determined.
Balance versus equity
Balance and equity differ when positions remain open. A rule may use one or both and may include fees or financing. Reproduce the provider's definitions rather than substituting a familiar dashboard field.
Permitted instruments
Permitted instruments, order types and strategies can be restricted. A technically accepted platform order may still breach an account agreement. Keep the applicable rule version and clarify ambiguous provisions through official channels.
Payout and consistency conditions
Payout and consistency conditions can depend on days, concentration or other defined metrics. A positive account result does not automatically mean immediate payout eligibility. Read the conditions as accounting rules that must be tested.
Worked example
A hypothetical evaluation reports a balance of 50,500 and open loss of 700, giving simplified equity of 49,800. A rule based on equity can be breached even while closed-trade balance shows a gain.
Try it yourself
Explain what records are needed to evaluate that rule at the time it is measured, without using a later closed-trade result.
Show the worked solution
Use contemporaneous balance, open marked-to-market P&L, charges and the rule's measurement time and definition. A later recovery does not retroactively change whether the earlier threshold was crossed.
Apply this to your course project
Model a hypothetical evaluation rulebook and identify paths that breach it despite positive P&L.
Keep the calculation inputs, assumptions and decisions with your work. Practical exercises are self-reviewed; the scored knowledge checks assess the questions shown, not an independent certification of practical competence.