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- Trading Rules
Traders are required to complete a minimum of three (3) trading days both Phase 1 and 2 of the Pay as you Progress model, three (3) trading days in each of Phase 1,2, and 3 of the 3-Step Challenge model and twenty five (25) trading days in Instant model. Similarly minimum of five (5) trading days both Phase 1 and 2 of Trade Now Pay Later model
Take note that “Trading Days” are counted only when a trade is opened. For instance, if a trader opens a trade on a Monday and closes it on Wednesday, it will be considered as ONE (1) trading day since the trade was initiated on Monday. The act of closing the trade on a specific day does not count as an additional trading day.
For traders participating in the Pay as You Progress, a daily drawdown of up to 5% of their account balance is permitted. For traders participating in the 3-Step Challenge and Trade Now Pay Later evaluation programs, a daily drawdown of up to 4% of their account balance is permitted. For traders enrolled in the Instant account or the Multiplier account programs, a daily drawdown of up to 3% of their account balance is permitted.
To calculate the daily loss limit, you can use the following formula: Daily loss limit = (Your Last day’s Balance – Today’s Balance) / Equity. It’s important to note that your daily loss limit will reset at midnight according to the server time.
Let’s break down these scenarios with examples:
**Scenario 01:**
Suppose you have a $100,000 account, allowing for a maximum daily loss limit of $5,000. If you’ve already lost $2,000 in closed trades, you cannot lose more than $3,000, including floating losses. Any loss exceeding this amount, including swap and commission rates, would be considered a violation.
** Scenario 02:**
If you gained $5,000 in profit in a single day, your allowable loss would be $5,000 (your profit) + $5,000 (your daily loss limit), totalling $10,000. Exceeding this amount in both open and closed positions would constitute a violation.
** Scenario 03:**
It’s crucial to remember that your daily loss limit resets at midnight server time. For instance, if you gained a $2,000 profit in a closed trade and currently have a $6,000 floating loss, your current daily loss stands at -$4,000. However, if you maintain this trade with a $6,000 floating loss past midnight, you’ll breach the daily loss limit, as the new day begins, and you’ve already exceeded the $5,000 limit.
For Pay as You Progress accounts and Trade Now, Pay Later accounts:
Traders are permitted a maximum overall drawdown of 10% of the initial balance they start with.
For Instant accounts:
Traders are allowed a maximum overall drawdown of 6% of the initial balance they start with.
For Multiplier accounts:
Traders are permitted a maximum overall drawdown of 5% in 2x challenge and 2.5% in 5x Challenge of the initial balance they start with.
For 3-Step Challenge accounts:
Traders are permitted a maximum overall drawdown of 8% of the initial balance they start with.
For traders participating in the Pay as You Progress and Trade Now, Pay Later evaluation programs, a maximum overall drawdown of 10% from their initial balance is permitted. Conversely, for traders enrolled in the Instant account, a maximum overall drawdown of 6% from their initial balance is allowed, for traders enrolled in the 3-Step Challenge account, a maximum overall drawdown of 8% from their initial balance is allowed, and for traders enrolled in the Multiplier account, a maximum overall drawdown of either 5% or 2.5% from their initial balance is allowed based on 2x or 5x challenge respectively.
Let’s delve into examples to elucidate this calculation:
**Scenario 01:**
Assume you begin with a $100,000 account, with a maximum overall loss limit of 10% ($10,000). If your account balance or equity ever falls below $90,000, it would violate the rule. To avoid such violations, you must ensure your account balance or equity remains above $90,000.
** Scenario 02:**
Now, suppose you commence with a $100,000 account and earn a $4,000 profit. In this scenario, your overall maximum loss limit increases to $14,000 ($10,000 original limit + $4,000 profit). Consequently, you can sustain a total loss of $14,000. Should your account balance or equity dip below $90,000, it would breach the rule.
In summary, comprehending the overall maximum loss limit is pivotal in managing your trading account. By maintaining your account balance or equity above the required % threshold, you can sidestep potential violations and ensure a fruitful trading journey.
Yes, Trading during news is permitted only in Instant Funding model. Please note that news straddling methods are prohibited in all the models including Instant funding, as this is not replicable in live market conditions.
During any evaluation, you can trade freely during news releases. As a Funded Trader in Trade Now Pay Later, Pay as you Progress and 3-Phase Challenge, you can’t open or close trades from 5 minutes before to 5 minutes after High Impact News announcements, but you can hold existing trades.
Executing a trade means opening or closing a pending order (including stop loss or take profit) or a market execution. This is considered a hard breach in Trade Now Pay Later model, Pay as you Progress and 3-Phase Challenge models and will result in the termination of your account.
We use Economic calendars Forexfactory and Investing.com to identify the High Impact News events.
Despite having Unlimited Trading Days, traders are required to remain in active trading within thirty (30) days from your last trade taken. This is considered as a HARD breach and the account will be disabled. This rule applies to the life long valid Instant accounts too, if there’s no trading activity for 30 days on Instant account, that will be disabled as well.
Kindly refrain from using Prohibited strategies like High-Frequency Trading (HFT), Latency Trading, Copy trading from other, Use of Platform or Data Freezing Due to Demo Server Errors. You can find more information on Restricted/Prohibited strategies in our TnC.
Inactivity Period:
Despite having Unlimited Trading Days, traders are required to remain in active trading within thirty (30) days from your last trade taken. This is considered as a HARD breach and the account won’t be eligible for reviews for any payouts, if any.
Trading Stability Score (TSS) is all about Consistency in trading.
With a lower value indicating a higher consistency of trades, which could help you to achieve better results, which should be the goal for anyone who wants to stay in the trading business for a longer period of time.
If a trader’s Consistency Score is 100%, it means that all of his/her profit was made on a single day. Therefore, it is very difficult to evaluate the consistency and profitability of a strategy based on the results based on only one day of trading.
The Consistency Metric is calculated using the following formula:
((Highest Profit or Loss Day / Absolute Sum of all Trading Days) x 100.
If an account accumulates a Trading stability score equal to or more than the Max TSS value of the program, the payout will be deferred until the next review date and added to the subsequent payout. The score resets upon payout. It’s important to note that having a higher consistency score will NOT lead to the closure of the account.
This is applicable only to the funded accounts at the moment. (Instant, Pay as you Progress, 3-Step and Trade Now Pay Later)
Max TSS value for Instant Funding and Pay as you Progress: 20
Max TSS value for Trade Now Pay Later and 3-Step Challenge: 15
We welcome high stakes traders, but if we find the behaviour pattern change abnormally on the live account vs challenge accounts, we might ask the trader to retake the challenge to meet his real account trading style till they match their challenge style. Kindly do note that the we should be able to understand the type of trader we are funding, so that appropriate risks can be applied. Trader taking high risks just to pass a phase in minimum days wont serve either you or us. Again, high risk traders are welcome if that’s your trading style and you want to do the same thing on the live account as well. We just dont encourage taking our challenges casually.
It’s totally your choice in case of evaluation. Where as in any funded account, risk on a single trade setup risk shouldn’t exceed more than 50% of the Max daily loss unless the trades within the setup are moved to Breakeven. This is not a hard breach and the account won’t be suspended, the profits that happen on such particular high risk All-in trades will be ignored during the payout calculation.
Eg: The total risk on a single trade setup shouldn’t exceed 2.5% in Pay as you Progress funded account as the Max Daily loss is 5%.
The leverage provided varies depending on the market and account type:
For Trade Now, Pay Later, Pay as You Progress and 3-Step Challenge Accounts:
1. Forex pairs: Upto 1:100
2. Metals, Indices, Energies: Upto 1:50
For Instant Accounts:
1. Forex pairs: 1:10
2. Metals, Indices, Energies: 1:5
For Multiplier Accounts:
1. Forex pairs: Upto 1:100
2. Metals, Indices, Energies: Upto 1:50
SL is not required for Instant accounts, though its highly recommended to always use SL.
You are required to setup an SL within the first 2 minutes of placing your trade only in the funded phase of Trade Now Pay Later, Pay as you Progress, 3-Step Challenge accounts.
If you fail to place a stop loss within two minutes of executing a trade, our system will automatically detect this and consider this as an hard breach, resulting in the termination of your account.
Yes, in the case of the Pay as You Progress and 3-Step Challenge models. It’s worth noting that the fee will always be refunded to the trader upon the withdrawal of their very first profit split from the The Prop Game Account. The fees are not refundable in the case of Trade Now Pay Later, Insant Funding and Multiplier accounts.
You can find this value in your trading objectives on the user dashboard for the respective account. It is also shown as “Trading Stability Score: %” displayed from the Live Trading Dashboard Indicator. This file is available in the Downloads section of the Trader Dashboard.
Click here to find more information about TSS.
The Trading Stability Score is calculated using the following formula:
(Highest Profit or Loss Day / Absolute Sum of all Trading Days) x 100
Click here to find more information about TSS.
In Trade Now Pay Later model, first withdrawal request of the payout has to be after thirty (30) trading days from the execution of your very first trade on your Phase 3 account, unless you choose the biweekly add-on during the checkout.
In Pay as You Progress model, first withdrawal request of the payout has to be after thirty (30) trading days from the execution of your very first trade on your Phase 3 account.
In Instant funding model, a withdrawal request of the payout has to be after twenty five (25) trading days from the execution of your very first trade on your Instant account.
In Multiplier model, a withdrawal request of the payout has to be after two (2) trading days from the execution of your very first trade on your Phase 3 account.
In 3-Step Challenge funding model, a withdrawal request of the payout has to be after twenty five (25) trading days from the execution of your very first trade on your Funded account.
There is a minimum simulated profit of $50 to be eligible for a withdrawal of performance rewards.