General Questions
What is the maximum drawdown?
What is the difference between a hard breach and a soft breach?
Trading Rules
How do you calculate the Daily Loss Limit?
The Daily Loss Limit is the maximum your account can lose in any given day. Daily Loss Limit is calculated using the previous day balance which resets at 5 PM EST. The Daily Loss limit compounds with the increase in your account. Example: if your prior day's end of day balance (5pm EST) was $100,000, your account would violate the daily loss limit if your equity reached $95,000 during the day. If your floating equity is +$5,000 on a $100,000 account, your new- day (5pm EST) max loss is based on your balance from the previous day ($100,000). So, your daily loss limit would still be $95,000.
How do you calculate the Trailing Max Drawdown?
For Instant Funding plans that use a Trailing Max Drawdown, the Maximum Trailing Drawdown is initially set at 8% and trails (using CLOSED BALANCE - NOT equity) your account until you have achieved a pre-defined % return in your account. Once you have achieved the % return, the Maximum Trailing Drawdown no longer trails and is permanently locked in at your starting balance. Example: If your starting balance is $100,000, you can drawdown to $92,000 before you would violate the Maximum Trailing Drawdown rule. Then for example let's say you take your account to $102,000 in CLOSED BALANCE. This is your new high-water mark, which would mean your new Maximum Trailing Drawdown would be $94,000. Next, let's say you take your account to $108,000 in CLOSED BALANCE, which would be your new high-water mark. At this point your Maximum Trailing Drawdown would be locked in at your starting balance of $100,000. So, regardless of how high your account goes, you would only breach this rule if your account drew back down to $100,000 (note, you can still violate the daily drawdown). For example, if you take your account to $170,000, as long as you do not drawdown more than 5% in any given day, you would only breach if your account equity reaches $100,000.
Can I trade during News Events?
Opening a position within 3 minutes before or after a News Event is prohibited. Any traders identified as having opened a position during a News Event are subject to having that position closed and the associated P&L removed from their account, having the leverage on their account reduced or having their account breached altogether. The Company has sole and absolute discretion in determining what constitutes a News Event. This rule is intended to protect the integrity of our program and is not meant to penalize traders who inadvertently trade through a news event.
Instant Funded Accounts
How do I withdraw the gains in my Instant Funded Account?
Traders can request a withdrawal of the profits in their funded account through their trader dashboard at any time. However, withdrawals are limited to one
request every 30 days. The minimum withdrawal amount is the greater of $100 or 1% of the account's starting balance. When a withdrawal is approved, we will
also withdraw our share of the gains, and your max trailing drawdown will lock in at your starting balance. The trailing drawdown does not reset when you request
a withdrawal. Example: You have taken an account from $100,000 to $120,000. You then request a withdrawal of $16,000. In this scenario, you will receive
$12,000 and we would retain $4,000. This would also take the balance of the account down to $104,000, and your Maximum Trailing Drawdown is locked in at
$100,000. So, you would have $4,000 maximum you could lose on the account before it would violate the Maximum Trailing Drawdown rule. If you take a full
withdrawal of the gains in your Funded Account, the Maximum Trailing Drawdown will lock in at the starting balance and trigger the Maximum Trailing Drawdown
breach rule, resulting in the forfeiture of your Funded Account.
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