Think Capital

Think Capital offers two challenge models: the Lightning Challenge (1-Step) and the Dual Step Challenge (2-Step). The Lightning requires an 8% profit target with a 3% daily drawdown and 8% trailing maximum drawdown — no time limit, no minimum trading days. The Dual Step targets 8%/5% with a 5% daily drawdown and 8% static max drawdown. Profit split reaches up to 90% on funded accounts. Account sizes from $10,000 to $200,000. Platforms: MT4, MT5, and cTrader. News trading is permitted, EAs are allowed, and there is no minimum hold time. The Lightning Challenge's trailing drawdown locks once profits reach 8% — eliminating further downside risk from that point. Use referral link checkout.thinkcapital.com/?apply-coupon=STATS for automatic 25% off via promo code STATS.

Think Capital's drawdown mechanics differ between programs. The Lightning Challenge uses a trailing drawdown: starting at 8% below the initial balance, the floor rises as the highest account balance increases. Once profits reach 8%, the floor locks permanently at the starting balance — meaning the trader cannot lose more than they started with from that point. This is a progressive protection model rewarding early strong performance. The Dual Step uses a static 8% drawdown — fixed at starting balance minus 8% throughout both phases and funded stage. The daily drawdown on the Lightning is 3%, calculated on closing balance (not equity) — more forgiving for traders with open positions. The Dual Step's 5% daily is calculated on equity. The maximum drawdown is 8% on both plans — the corrected figure (not 10% as sometimes quoted in older resources). On a $100,000 account, the floor is $92,000.

Think Capital has established a growing reputation with a competitive challenge structure and strong profit split progression. The Lightning Challenge has been particularly well-received for its trailing drawdown that quickly locks at breakeven — providing psychological confidence for traders who build early momentum. Community reviews are positive (4.3+ stars) and payout processing is smooth and timely. The 25% STATS discount via the referral link makes Think Capital one of the most cost-effective trailing drawdown challenges available. One area to monitor: Think Capital's maximum account size of $200K is lower than market leaders like Alpha Trader Firm ($4M) and FundingPips ($2M), limiting scaling potential for top performers.