The 1-step challenge offers a faster path to the funded phase, as you only need to pass one phase to start earning. However, it requires tighter risk management, with a max total loss capped at 6%, leaving less room for drawdowns. In contrast, the 2-step challenge takes longer to reach the funded phase but provides a more forgiving 8% max total loss, allowing for greater flexibility and a larger margin for error.
If you value speed, the 1-step challenge is ideal, but if you prefer a larger buffer, the 2-step challenge may be the better choice.