Due diligence
The idea
An evaluation may use a simulated account and contractual payout rules rather than a brokerage account holding your capital. Fees, drawdown definitions, prohibited strategies and payout conditions matter. Published winners do not describe the outcome of every participant. Read the agreement as a product contract.
A worked example
A trailing drawdown limit can tighten after equity rises, even if a trader later returns to the starting balance.
Try it yourself
List the fee, daily limit, total drawdown method, payout conditions and termination clauses for an example evaluation.
A mistake to avoid
Comparing headline account size with cash you actually own or can withdraw.