A discounted fee that allows a trader to restart a failed evaluation from the beginning with a fresh account balance, rather than purchasing an entirely new evaluation. Reset fees are typically 40-60% cheaper than the original evaluation fee.
Why It Matters
- 1Reset fees give traders a more affordable second chance after failing an evaluation.
- 2If a $100,000 evaluation costs $349 and a reset costs $149, you save $200 on each retry.
- 3For traders who need multiple attempts (which is common), resets can save hundreds of dollars over time.
- 4However, not all firms offer resets, and some only allow resets within a certain timeframe after failure.
- 5Understanding reset availability and cost is a key factor in budgeting for your prop trading journey.
Example
- 1You fail a $100,000 evaluation by hitting the max drawdown on day 15. Instead of paying $349 for a brand new evaluation, you pay a $149 reset fee. Your account is restored to $100,000 with all rules reset.
- 2If you fail again and reset once more, your total investment is $349 + $149 + $149 = $647 for three attempts — versus $1,047 for three separate evaluations.
Common Mistakes
- ✖Repeatedly resetting without analyzing why you failed — fix the problem before trying again
- ✖Not comparing the cost of resets vs. buying a new evaluation during promotional periods
- ✖Assuming resets are available indefinitely — some firms have time limits on reset eligibility