Funded trading risk: what personal money is still exposed?
A funded-account offer does not make your personal spending risk-free. A displayed account allocation, money you pay and a reward you may receive are different amounts. This guide helps you document each exposure before buying; it does not promise funding or a cap on every possible contractual liability.
Identify what the account actually represents
Read the legal entity, exact programme, phase and agreement. FTMO describes simulated trading services. Topstep distinguishes its simulated Trading Combine and Express Funded Account from its Live Funded Account. A funded label alone therefore does not prove that you control a brokerage deposit or that every trade is copied to a market account.
Record the account type and the evidence behind it. An allocation is neither a cash balance you own nor the amount you can withdraw. A loss limit is an account rule, not insurance for your fees, expected income or contractual obligations.
Build a personal exposure ledger
| Exposure | Record before committing |
|---|---|
| Cash already spent | Invoices for attempts, resets, subscriptions, activation, data and optional tools; include only charges that apply. |
| Future payments | Renewal date, cancellation method and any new-attempt decision. A failed attempt does not require another purchase. |
| Possible refund | Eligible purchase, trigger, exclusions, method and actual receipt. Keep an unreceived refund separate. |
| Possible reward | Eligible profit, share, review, withdrawal limits, deductions and payment status. |
| Other exposure | Time, access and technical failures, provider continuity and the obligations in the signed contract. |
Do not record a reward or refund as received cash merely because a dashboard shows a positive number. Preserve transaction references and avoid counting commissions or costs twice.
A refund does not erase all previous attempts
FTMO’s CFD refund FAQ, checked on 16 October 2026, distinguishes products: the 2-Step initial purchase fee is refunded when the first Reward withdrawal is requested; 1-Step and Instant entry fees are not refundable. This is not a universal refund rule for all firms or their futures products.
Entirely fictional cash example, not prices: three attempts at $100 each plus $40 of other costs mean $340 paid. If only the final $100 is eligible and actually refunded, $240 remains spent. Passing alone does not make the net cost zero.
Separately, assume an eligible reward base of $500 and a fictional 80% share: $500 × 80% = $400. If actually received, $400 − $340 = $60 before tax and other unlisted costs when there is no refund. With the separately received $100 refund, the same ledger gives $160. Never subtract $340 and $240 together. These scenarios are arithmetic, not expected earnings or a provider offer.
Check the rule before treating a loss as temporary
Save the applicable daily and overall loss calculation, equity treatment, costs, reset time and exact threshold. A limit is not universally monthly or trailing. Do not assume a breach becomes valid again the next day. A consistency condition, profit target and loss breach are separate events with product-specific consequences.
Test assumptions and execution with the permitted platform and exact file. A backtest does not establish a pass probability; a stop order or EA cannot guarantee a fill or prevent every breach. No representative dataset here establishes an EA pass advantage or fixed income after scaling.
Keep software and provider decisions separate
The JPTC EA Hub contains separately documented software; compatibility and permission require the exact file, platform and programme rules. The hosted JPTC Algo is a separate service: its customers install or run nothing and need no VPS. Neither service guarantees compliance, funding or payout. Company-published broker-statement figures do not verify other providers or predict your results.
Primary model sources checked on 16 October 2026: FTMO refund and service description; Topstep account stages.
Is my only risk a small evaluation fee?
Does passing make the account free?
Can a loss limit be treated as insurance?
What does the $340 example prove?
Prop-firm challenge preparation
A structured preparation workflow using JPTC software, reviewed setfiles and account-level risk controls. The customer keeps control of the account, and no challenge outcome is guaranteed.
See the preparation workflow