Guides · Before you pay
United Kingdom and United States buyers are not the same queue
Eligibility is the firm’s list. This is not legal advice, and a challenge is not a UK-regulated investment just because you found it from London.
People in the United Kingdom and the United States both buy challenges. Firms do not treat those facts as equivalent. Some refuse US residents. Some serve them through a different entity with different rules. Some say nothing on the page you happen to land on. PropChallenger will not tell you that you are eligible.
A challenge fee is a purchase of rules on a simulated account unless the contract says something more. It is not, by itself, a managed investment, a deposit, or a broker account. If you need to know how your regulator would describe it, that is a question for the firm’s agreement and, if it matters, for a lawyer. It is not a question a comparison table can settle.