Definition
1-step challenge
An evaluation with a single phase: one profit target, then funded.
A 1-step gets you funded after a single phase, so it's the fastest evaluated route to a payout. The trade-off is usually stricter risk: tighter drawdown (often trailing) and sometimes a consistency rule.
It suits traders with steady, small-risk styles; big-swing styles usually fare better on a 2-step with more forgiving drawdown.
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General industry definitions — individual firms define terms differently in their own ToS; the decoded rulebook for each firm is the source of truth. Educational, not financial advice.