How an evaluation works
An evaluation is a paid challenge on a simulated account: you hit a target while also staying inside the loss and timing rules. The “$50k” figure is the nominal size, not a balance you can freely withdraw.
Which path are you buying?
The number of assessments, the trading status, and the live transition are three different questions.
1-Step
- One simulated assessment
- Funded per the contract
For example Crypto One-Step or FX & CFD One-Step. Funded alone does not prove a live status.
Multi-Phase
- Phase 1
- Further phases
- Completion conditions
Iceberg Futures: four simulated phases with fixed payouts after successful completion.
Instant
- No assessment
- Rules & payout conditions
No assessment does not mean no rules. At Iceberg this is its own FX/CFD program, not futures.
Sim → Live
- Iceberg Futures P1–P4
- Separate live account
$50k challenge → $6k live after phase 4. No guarantee of profit.
What do you actually buy for $525?
In the public Iceberg calculator, the $50k futures challenge costs $525 one-time. You are not wiring $50,000 to a broker. You are paying for access to an assessment under a specific contract. The assessment is simulated; targets, fees, and later payments are still real contractual questions. Checkout confirms the final price before payment.
In the futures example, 9% of $50,000 is exactly $4,500 of target per phase. A 5% drawdown leaves $2,500 of room to the initial loss limit of $47,500. That room is the calculated headroom, not the large account number. So calculate with both figures: the target and the limit. A label with lots of zeros does not replace an understanding of risk.
Is a 1-step simply a shorter multi-phase?
A one-step program has one assessment stage before the next contractual status. A multi-phase program has several assessments in sequence. The number of stages tells you nothing about which program is easier for you: a different drawdown, different minimum days, or different consistency conditions can change the comparison completely.
Iceberg Futures has four simulated phases. Crypto One-Step and FX & CFD One-Step are different programs. You must not read the futures payout ladder into an FX contract. Compare inside a matching market and against the full rulebook, not just the “One-Step” heading.
Why is Instant not the same as getting money immediately?
Instant skips the assessment. It does not skip loss rules, identity checks, or payout conditions. “No challenge” does not mean “no contract,” and it certainly does not mean “no risk.” Check what the provider means by funded, and whether trading is simulated or live.
At Iceberg, Instant is offered as its own FX/CFD program, not as a shortcut for futures or equities. The $50k calculator prices illustrate the difference: Futures $525, FX & CFD One-Step $749, and Instant $2,799. Those are fees for different programs, not a statement about their chances of success.
Does funded automatically mean real live capital?
No. The status name alone does not answer the question. Many contracts also use funded for a simulated trading status with contractual payouts. Read explicitly when real market orders follow, and with what starting balance. Account name, nominal size, and live capital belong on three separate lines.
At Iceberg Futures, a live funded account follows after phase 4. On the $50k path it starts with $6,000, not $50,000. The published share of account gains live is 90%. That is a contractual term; it does not create an entitlement to a profit.
What do the industry rates say — and what do they not?
TradeInformer reports from FPFX data roughly 14% passing challenges and roughly 7% of all buyers receiving a payout. In the teaching diagram, 100 buyers start, about 14 pass, and about 7 are paid. The seven refer to all buyers, not seven percent of the 14. The source and its limits sit directly on the diagram.
Finance Magnates reports a different survey for The Funded Trader: 5–10% pass, and about 20% of those receive a payment. That is about 1–2% of all buyers. You cannot derive a general industry constant or your own probability from that. Different providers, periods, and definitions remain different.
Which questions belong before a purchase?
Is the price one-time or recurring? Does the clock start at purchase or at the first trade? Which daily limit matters in addition to the overall drawdown? What changes after a payout? If support cannot answer these questions clearly, the next sensible step is a follow-up — not a fast checkout.
File the rule version, the fee receipt, and the contract terms together. A verbal promise in chat is not a clean basis for your decision. You do not have to buy every challenge you have understood. Sometimes the most important result of the research is: this program is not a fit right now.
1-Step or Instant?
Two terms, two different contract paths.
Passed is not paid
100 buyers → roughly 14 pass → roughly 7 receive a payout. Industry illustration, not Iceberg results.
buy an evaluation
pass the challenge (≈14%)
receive a payout (≈7% of all buyers)
An illustrative order of magnitude from reported FPFX data. Not internal Iceberg figures, and not a probability of success for you. Finance Magnates cites different rates from another survey; those are not mixed in here.
Source: TradeInformer / FPFX interview
A different survey — do not add them together: Finance Magnates reports for The Funded Trader 5–10% passing and about 20% of those paid out. That works out to about 1–2% of all buyers. Different data basis; no personal forecast of success.
Source: Finance Magnates · The Funded TraderSources and context
- Iceberg Funding · Rules
Public program rules. Prices: calculator retrieved 10 Nov 2026; checkout confirms before payment. One program is not the rule template for all others.
- Iceberg Funding · FAQ
Futures phases, consistency, and the live transition. Check current terms before you buy.
- TradeInformer · FPFX interview
Reported order of magnitude: roughly 14% pass, roughly 7% of all buyers receive a payout. Not Iceberg data, not a personal forecast of success.
- Finance Magnates · The Funded Trader
Another survey: 5–10% pass; about 20% of those receive a payout, so about 1–2% of all buyers. Do not mix populations and periods with FPFX.
Understood the rules? Review the actual offering — with no guarantee of success or profit.
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