> For the complete documentation index, see [llms.txt](https://hashhedge.gitbook.io/hashhedge-user-guide/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://hashhedge.gitbook.io/hashhedge-user-guide/start-here/challenge-types.md).
# Challenge types
Hash Hedge offers two live challenge types, the **One-stage Challenge** and the **Two-stage Challenge**, plus an **Instant** account **coming soon**. On the **US Stocks** market only the **Two-stage** Challenge is offered. See [Trading US Stocks](/hashhedge-user-guide/trading-terminal/stocks-terminal.md).
Both live types lead to the **Trader** stage, where you trade a funded account with real payouts; they differ in how many evaluation stages you pass, and in their targets, loss limits and fees. At checkout you also choose a **market** and an account size from **$5K to $100K**, or up to **$150K** on Two-stage ($300K and $500K coming soon). The market is **Crypto + TradFi** (crypto, indices, metals, energy; trades 24/7) or **US Stocks** (new). Pick what fits your experience and budget.
Choosing the account type, with the rules for every stage
1:5
Max leverage
Unlimited
Trading period
80–90%
Profit share
***
{% tabs %}
{% tab title="One-stage Challenge" %}
A single evaluation stage, then a funded account: the fastest route to funding, with a higher profit target and tighter loss limits.
**Available account sizes:** $5,000 · $10,000 · $25,000 · $50,000 · $100,000. $10,000 is the most popular.
**Challenge rules, stage by stage**
| Rule | Stage 1 | Trader |
| -------------------- | --------- | --------------------------- |
| Profit target | 10% | none |
| Daily loss | 3% | 3% |
| Total loss | 6% | 6% |
| Minimum trading days | 3 | none |
| Trading period | Unlimited | Unlimited |
| Max leverage | 1:5 | 1:5 |
| Profit share | none | 80% (90% with Profit Split) |
| {% endtab %} | | |
{% tab title="Two-stage Challenge" %}
Two evaluation stages, then a funded account. Lower profit targets and wider loss limits, spread across two stages.
**Available account sizes:** $5,000 · $10,000 · $25,000 · $50,000 · $100,000 · $150,000. $25,000 is the most popular, $150,000 the best value.
**Challenge rules, stage by stage**
| Rule | Stage 1 | Stage 2 | Trader |
| -------------------- | --------- | --------- | --------------------------- |
| Profit target | 8% | 6% | none |
| Daily loss | 5% | 5% | 5% |
| Total loss | 10% | 8% | 8% |
| Minimum trading days | 5 | 5 | none |
| Trading period | Unlimited | Unlimited | Unlimited |
| Max leverage | 1:5 | 1:5 | 1:5 |
| Profit share | none | none | 80% (90% with Profit Split) |
| {% endtab %} | | | |
| {% endtabs %} | | | |
## Which type should I choose
Both types use **1:5** leverage and have no time limit. The **One-stage Challenge** reaches funding faster (a single evaluation stage) but asks for a higher **10%** target within tighter **3%** daily / **6%** overall loss limits. The **Two-stage Challenge** spreads lower targets (**8%** then **6%**) across two stages with wider **5%** daily / up to **10%** overall limits. Within a type, the percentages are the same on every size, so pick the account you're comfortable managing within its loss limits. A larger account scales targets and limits in dollars but keeps the same percentages. New to Hash Hedge? A smaller plan is a low-cost way to learn the platform.
Next: [How to buy a Challenge](/hashhedge-user-guide/start-here/buy-challenge.md).
***
The rules, stages and loss limits are the same for every type. See [Rules, Stages and Loss Limits](/hashhedge-user-guide/rules/challenge-rules.md).
---
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