Leveraged Challenge Types: Which One Is Right For You?

Leveraged offers five distinct challenge paths to funded trading accounts up to $1M: the Jr. Portfolio Manager (1-phase, fast track to funding), Sr. Portfolio Manager (2-phase, highest leverage at 1:100), Executive Portfolio Manager (3-phase, progressive evaluation), Turbo (pay only after you pass, starting at $8.88), and Sprint (accelerated challenge for confident traders). Each is designed for a different trading style, experience level, and risk tolerance. Here’s how to choose the right one.

Why Does Leveraged Offer Multiple Challenge Types?

Not every trader is the same. For instance, a scalper trading 50 times a day needs different conditions than a swing trader holding positions for a week. A beginner with a $100 budget has different needs than an experienced trader ready to invest $500+ in an evaluation.

Given that traders vary so widely, Leveraged designed five challenge paths. Specifically, each one varies in:

• Number of evaluation phases (1, 2, or 3)
• Profit targets (what you need to achieve)
• Drawdown limits (how much you can lose)
• Leverage (your buying power multiplier)
• Pricing structure (upfront fee vs. pay-after-you-pass)

However, the goal is the same for all: prove your trading skills and get funded with real capital, keeping 80% of every dollar you earn.

What Are the Five Leveraged Challenge Types?

Quick Comparison Table

How Does the Jr. Portfolio Manager Challenge Work?

The Jr. Portfolio Manager is Leveraged’s single-phase evaluation — consequently, it represents the fastest path from sign-up to a funded account.

Challenge Parameters

• Phases: 1
• Profit Target: 10%
• Maximum Drawdown: 6%
• Daily Drawdown Limit: 3%
• Leverage: 1:30
• Time Limit: None
• Minimum Trading Days: None
• Profit Split: 80%
• Payout Frequency: Bi-weekly

What’s the Trading Strategy for Jr. Portfolio Manager?

With a 10% target and only 6% total drawdown, the margin for error is tight. Therefore, here’s how to approach it:

Risk per trade: 1–1.5% maximum. Given that the drawdown is 6%, risking 1% per trade gives you 6 consecutive losing trades before failing. Furthermore, at 1.5%, you get only 4. Therefore, stay conservative. Aim for 2:1 or 3:1 reward-to-risk ratios. For instance, if you risk 1% per trade with a 3:1 ratio, you need to win just 4 trades (at 3% each) to hit the 10% target — even with several losses along the way. Use the leverage wisely. At 1:30, you won’t have the buying power of the Sr. challenge. Instead, focus on quality setups rather than volume. Don’t trade every day. Given that there’s no time limit and no minimum trading days, wait for high-probability setups. In fact, one great week can pass the challenge entirely.

Who Should Choose the Jr. Portfolio Manager?

• Traders who want speed. One phase means you could be funded in days or weeks, not months. As a result, it’s ideal for those who don’t want to wait.
• Disciplined traders with high win rates. The tight drawdown demands precision. Therefore, only confident traders should take this path.
• Scalpers and day traders. The 1:30 leverage suits smaller, more frequent trades with defined risk. Furthermore, the single-phase structure rewards those who can perform consistently.
• Traders who’ve passed challenges before. In that case, if you know you can hit 10% targets, skip the multi-phase process entirely.

How Does the Sr. Portfolio Manager Challenge Work?

The Sr. Portfolio Manager is Leveraged’s two-phase evaluation. Notably, it comes with the most generous leverage and drawdown allowance of any challenge.

Challenge Parameters

• Phases: 2
• Phase 1 Profit Target: 8%
• Phase 2 Profit Target: 5%
• Maximum Drawdown: 10%
• Daily Drawdown Limit: 5%
• Leverage: 1:100
• Time Limit: None
• Minimum Trading Days: None
• Profit Split: 80%
• Payout Frequency: Bi-weekly

What’s the Trading Strategy for Sr. Portfolio Manager?

The Senior challenge offers the best risk-to-reward ratio in the Leveraged lineup. Specifically, here’s why and how to leverage it:

Consider swing trading. Given that the challenge offers 1:100 leverage and no time limits, holding positions for days with wider stop-losses becomes viable. As a result, you can capture larger moves while managing risk effectively.

The drawdown math works in your favor. With 10% total drawdown and an 8% Phase 1 target, you have a 1.25:1 drawdown-to-target ratio. In contrast, the Jr.’s ratio is only 0.6:1 — consequently, the Sr. gives you nearly double the breathing room per percentage point of target. 1:100 leverage is a tool, not a mandate. You don’t have to use all of it. However, it means you can take meaningful positions even on smaller account sizes. What’s more, you can trade micro-lots on larger accounts for precise risk management.

Phase 2 is designed to be easier. The 5% target with 10% drawdown means you’re essentially proving consistency, not performance. Therefore, trade smaller, protect your account, and let winning trades accumulate.

Who Should Choose the Sr. Portfolio Manager?

• Traders who need higher leverage. Forex traders, especially those trading major pairs, benefit from 1:100 leverage for proper position sizing.
• Swing traders. The generous drawdown and no time limit suit multi-day holds. Furthermore, the two-phase structure gives ample time to prove consistency.
• Traders who prefer multi-phase evaluation. Two phases give you more total time and opportunity to prove yourself. In addition, the progressive structure builds confidence.
• Risk-tolerant traders. The 5% daily drawdown limit gives more room for intraday volatility. Consequently, this suits traders with wider stop-loss strategies.

How Does the Executive Portfolio Manager Challenge Work?

The Executive Portfolio Manager is Leveraged’s three-phase evaluation. Specifically, it is designed for methodical traders who prefer a structured, progressive journey to funding.

Challenge Parameters

• Phases: 3
• Phase 1 Profit Target: 6%
• Phase 2 Profit Target: 8%
• Phase 3 Profit Target: 10%
• Maximum Drawdown: 6%
• Daily Drawdown Limit: 3%
• Leverage: 1:30
• Time Limit: None
• Minimum Trading Days: None
• Profit Split: 80%
• Payout Frequency: Bi-weekly

What’s the Trading Strategy for Executive Portfolio Manager?

The Executive challenge is unique in that targets increase with each phase. Given these points, it is deliberately designed to build your confidence progressively:

Manage the tight drawdown carefully. With 3%/6% drawdown limits (same as Jr.), position sizing must be conservative: 0.5–1% risk per trade. On the positive side, the three-phase structure gives you time, so use it wisely. Phase 1 (6% target) — Establish your rhythm. This is the lowest target across any Leveraged challenge. Therefore, use it to settle into the platform, test your strategy in live conditions, and build a small buffer.

Phase 2 (8% target) — Lean into what’s working. By now you know the platform and you’ve identified which setups are working. Furthermore, you have momentum on your side. The target increases however so does your confidence. Phase 3 (10% target) — Prove you can perform under pressure. The final phase tests whether you can deliver your best performance when it matters most. Undoubtedly, this is where mental discipline separates funded traders from the rest.

Who Should Choose the Executive Portfolio Manager?

• Beginner-to-intermediate traders. The progressive targets ease you into evaluation rather than throwing you into a 10% target immediately. As a result, it’s far less intimidating.
• Traders building confidence. Passing Phase 1 at 6% gives you momentum and proof that your strategy works. Subsequently, you tackle higher targets with real evidence behind you.
• Patient, methodical traders. If you prefer structure and gradual progression, this is your challenge. In particular, traders who dislike being rushed will thrive here.
• Traders with tight risk management. If your strategy naturally keeps drawdowns under 3% daily, the tighter limits won’t feel restrictive. In fact, for such traders, this challenge plays directly to their strengths.

How Does the Turbo (Pay After You Pass) Challenge Work?

Turbo is Leveraged’s most accessible challenge — you pay only after you pass, starting at just $8.88.

Challenge Parameters

• Phases: 1
• Payment Model: Pay after you pass (starting at $8.88)
• Profit Split: 80%
• Payout Frequency: Bi-weekly
• Time Limit: None

Why Is Turbo Different?

Traditional prop firm challenges require upfront payment — typically $100 to $1,000+. If you fail, that money is gone. Turbo eliminates this barrier:

• Sign up for free (or a minimal entry fee)
• Trade the evaluation with zero financial risk
• Pay only if you pass — starting at just $8.88
• Get funded and start earning

This model fundamentally changes the economics of prop trading. There’s no reason not to try.

Who Should Choose Turbo?

• Budget-conscious traders. If spending $200–$500 on a challenge feels risky, Turbo removes that barrier entirely.
• First-time challenge takers. Try the challenge process with near-zero financial commitment to see if prop trading is right for you.
• Traders in developing markets. Where $100+ challenge fees represent significant income, Turbo makes funded trading accessible to everyone.
• Traders who fail and retry frequently. Instead of paying $200+ each attempt, the pay-after-you-pass model means failures cost you nothing but time.
• Anyone who wants to test their strategy. Think of Turbo as a free practice run that could turn into a funded account.

How Does the Sprint Challenge Work?

Sprint is Leveraged’s fast-track challenge designed for experienced traders who want to get funded quickly.

Challenge Parameters

• Phases: 1
• Structure: Accelerated evaluation
• Profit Split: 80%
• Payout Frequency: Bi-weekly

Why Choose Sprint?

Sprint is built for traders who already know they can pass. If you have:

• A proven, backtested strategy
• Experience passing prop firm challenges
• Confidence in hitting profit targets quickly

Then Sprint gets you from evaluation to funded faster than any other Leveraged challenge type.

Who Should Choose Sprint?

• Experienced funded traders. You’ve passed challenges at other firms and want to add a Leveraged funded account.
• Traders with aggressive strategies. If your strategy can generate significant returns quickly, Sprint matches your pace.
• Returning Leveraged traders. If you previously had a funded account and want to re-qualify, Sprint is the fastest path back.

How Do All Five Challenges Compare Head-to-Head?

Decision Matrix: Choose Based on Your Priority

Drawdown-to-Target Ratio Comparison

This ratio tells you how much room you have to reach your target. Higher is more forgiving:

The Sr. Portfolio Manager Phase 2 has the most forgiving ratio at 2.00 — meaning you have twice as much drawdown room as you need in profit. This is by design: Phase 2 is about proving consistency, not raw performance.

What Tips Apply to All Leveraged Challenges?

Regardless of which challenge you choose, these principles apply:

Use Leveraged’s Free Resources

• Daily webinars provide live market analysis — use them to identify setups before market open.
• AI trading tools analyze conditions across 50+ assets. Let the AI do the scanning; you do the execution.
• 1-on-1 coaching with Anna Ikerte can help you refine your strategy specifically for challenge conditions.
• Free courses cover everything from technical analysis basics to advanced risk management.

Follow the 1% Rule

Never risk more than 1–2% of your account on a single trade. This single rule prevents catastrophic drawdowns and gives you enough attempts to reach your target.

Journal Every Trade

Track your entries, exits, reasoning, and emotions. Patterns emerge in journals that are invisible in real-time. Leveraged’s dashboard provides analytics to help with this.

Don’t Change Your Strategy Mid-Challenge

If your strategy is profitable, trust it. The worst thing you can do mid-challenge is abandon what works because of a losing streak. Losing streaks are normal. Switching strategies adds uncertainty.

Frequently Asked Questions

Can I switch between challenge types?

You choose your challenge type at sign-up. If you fail one and want to try a different type, you can select a new challenge type when you re-register.

Do all challenges lead to the same funded account?

Yes. Regardless of which challenge you pass, you receive a funded account with an 80% profit split and bi-weekly payouts. The challenge type only affects the evaluation — not your funded trading conditions.

What assets can I trade during challenges?

All Leveraged challenges provide access to 50+ tradable assets including major and minor forex pairs, indices, and commodities.

Is there a free trial?

Turbo is essentially a free trial — you pay nothing upfront and only $8.88+ if you pass. There’s virtually no risk to trying.

How long does it take to get funded after passing?

Leveraged processes funded accounts quickly after challenge completion. Most traders receive their funded accounts within 24–48 hours of passing their final evaluation phase.

Can I hold trades overnight or over weekends?

Yes. Leveraged allows overnight and weekend holding on all challenge types, giving swing traders and position traders full flexibility.

What happens after I get funded?

You trade your funded account using the same strategy that passed the challenge. Profits are split 80/20 in your favor, with bi-weekly payouts. You can scale your account up to $1,000,000 through consistent performance.

Ready to Choose Your Challenge?

Every trader’s path to funding is different. Whether you want the speed of the Jr. Portfolio Manager, the leverage of the Sr., the structured progression of the Executive, the zero-risk entry of Turbo, or the fast track of Sprint — Leveraged has a challenge designed for how you trade. Create your free account and start your challenge →

This guide is part of Leveraged’s Trader Education Hub. Continue learning with our Complete Guide to Prop Trading, Free Trading Resources, and AI Trading Tools Overview.