> For the complete documentation index, see [llms.txt](https://bitfunded.gitbook.io/support/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://bitfunded.gitbook.io/support/introduction/challenge-and-trader-stage.md).

# Challenge & Trader Stage

Each Challenge consists of **1 Stage** to complete the **One Step Evaluation** and **2 Stages** for the **Two Steps Evaluation**. Upon completing the requirements of these stages, you will become a Funded Trader and will be eligible to receive 80% profit sharing.

**One step Evaluation:** 

|      Criteria      |  Stage 1  | Trader Stage |
| :----------------: | :-------: | :----------: |
| Profit Share Ratio |     -     |      80%     |
|   Leverage Ratio   |    1:5    |      1:5     |
|    Trading Days    | Unlimited |   Unlimited  |
|  Min. Trading Days |     -     |       -      |
|   Max. Daily Loss  |     4%    |      4%      |
|      Max. Loss     |     6%    |      6%      |
|    Profit Target   |    10%    |       -      |

**One Step Express:** 

|      Criteria      | Stage 1 | Trader Stage |
| :----------------: | :-----: | :----------: |
| Profit Share Ratio |    -    |      80%     |
|   Leverage Ratio   |   1:5   |      1:5     |
|    Trading Days    |    0    |       0      |
|  Min. Trading Days |    -    |       -      |
|   Max. Daily Loss  |    3%   |      3%      |
|      Max. Loss     |    3%   |      3%      |
|    Profit Target   |    9%   |       -      |

**Two steps Evaluation:** 

|      Criteria      |  Stage 1  |  Stage 2  | Trader Stage |
| :----------------: | :-------: | :-------: | :----------: |
| Profit Share Ratio |     -     |     -     |      80%     |
|   Leverage Ratio   |    1:5    |    1:5    |      1:5     |
|    Trading Days    | Unlimited | Unlimited |   Unlimited  |
|  Min. Trading Days |     -     |     -     |       -      |
|   Max. Daily Loss  |     5%    |     5%    |      5%      |
|      Max. Loss     |    10%    |     8%    |      8%      |
|    Profit Target   |     8%    |     5%    |       -      |

**Instant Funding Challenge**

|      Criteria      | Trader Stage |
| :----------------: | :----------: |
| Profit Share Ratio |      60%     |
|   Leverage Ratio   |      1:5     |
|    Trading Days    |   Unlimited  |
|  Min. Trading Days |       -      |
|   Max. Daily Loss  |      3%      |
|      Max. Loss     |      6%      |
|    Profit Target   |       -      |

Only in the **Two Steps Evaluations** (individual Two-Step Evaluations, not from promotions) are eligible to receive a **refund** of their challenge activation fee upon executing their **third withdrawal**.

For example, a trader who purchased a $79 Two Steps Evaluation Challenge and successfully reached the **Trader Stage** will be able to withdraw the $79 activation fee along with their third profit payout.

**Important**: Traders in the **Trader Stage** must continue to adhere to the Maximum Daily Loss and Maximum Total Loss requirements to maintain their funded account. **Any violation of these rules will result in the challenge being considered disqualified, requiring the trader to retake a new challenge**.

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