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Prop Firm

Evaluation pipeline, funded traders and the fee vs payout book · September 2026

Active challenges
2,132
+184 this week
Pass rate
11.2%
Phase 1 → Funded · 90d
Funded traders
318
$28.4M simulated capital
Fees vs payouts
$393,856
Paid $168,58540% ratio
Net this month
$235,386
+12.4% vs Aug

Fees collected vs payouts

Challenge fees (gross, after refunds) against trader payouts

Fees
$3,554,712
Payouts
$1,327,323
Payout ratio
37.3%
Fees collectedPayouts
$0$125K$250K$375K$500K
OctNovDecJanFebMarAprMayJunJulAugSep

Trader funnel

Last 90 days · all evaluation plans

4.9% to payout
Phase 1
9,864Started · 90d
100%
Phase 2
2,417Passed phase 1
24.5%
Funded
1,104Passed evaluation
45.7%
1st payout
486Received payout
44.0%
Conversion by planP1 → Funded
Classic 2-Step5,912 → 70211.9%
Rapid 1-Step3,952 → 40210.2%
Avg days to pass
18.4 P1 · 11.2 P2
Retry purchase rate
38.6% +2.1pp

Why challenges fail

Share of 2,184 breaches · 30d

Daily loss46%
Max drawdown31%
Time limit9%
Consistency7%
Banned strategy4%
News / weekend3%
Daily-loss breaches down -7.2pp since equity-based basis on Rapid 1-Step.

Plan performance

Sales trend (12 weeks), pass rate and revenue per plan

Kalks Classic 2-Step2-Step
Active
1,184
Pass
11.8%
Rev 30d
$168K
Kalks Rapid 1-Step1-Step
Active
736
Pass
9.4%
Rev 30d
$122K
Kalks Instant FundingInstant
Active
212
Pass
n/a
Rev 30d
$64K
Kalks Swing 2-Step2-Step
Active
0
Pass
-
Rev 30d
-
Draft