> 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-what-is.md).
# What Is a Challenge
A Challenge is an evaluation.
It's how you show that you can trade profitably while respecting risk limits. Pass it, and you get a funded account to trade with the company's capital.
80–90%
of the profit you generate is yours
$5,000–$150,000
account sizes
No time limit
trade at your own pace
## How a Challenge works
Challenge types differ in how many evaluation stages you pass. In each stage you need to:
* **Reach the profit target** for that stage,
* **Trade on at least 5 separate days** in that stage (**3** in the One-stage Challenge), and
* **Stay within the loss limits** (a daily loss limit and a total loss limit).
Reaching the target does not end the stage on its own. You can pass the target on your second day and still owe the remaining trading days.
In the **Two-stage Challenge** the profit target is **8%** in Stage 1 and **6%** in Stage 2, measured against your account size. The **One-stage Challenge** asks for a higher **10%** target within tighter **3%** daily / **6%** total loss limits. See [Challenge types](/hashhedge-user-guide/start-here/challenge-types.md).
Once you clear the evaluation, your account moves to the **Trader** (funded) stage straight away.
## What you get, and what it costs
| | |
| ------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |
| **Account** | A funded account that trades the company's capital, not your own. |
| **Profit** | **80%** of the profit you generate, or **90%** with the Profit Split add-on. |
| **Leverage** | Up to **1:5** on both markets. |
| **Fee** | A one-time fee to start a Challenge. It depends on the account size you choose, from $5,000 to $150,000. See [Challenge types](/hashhedge-user-guide/start-here/challenge-types.md) for the full list. |
***
Ready to begin? Open [Challenge types](/hashhedge-user-guide/start-here/challenge-types.md) to pick an account size, or go straight to [How to buy a Challenge](/hashhedge-user-guide/start-here/buy-challenge.md).
---
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