Following our risk parameters significantly reduces the likelihood of experiencing drawdown. In any event you reach drawdown, you won’t be held responsible for any resulting losses. However, it’s essential to understand that hitting the drawdown threshold will lead to automatic removal from the program.
We firmly believe in fairness and second chances, so you’re welcome to sign up for a new account in the program and try again.
Daily Drawdown
Challenge Phase has a daily drawdown of 7.5%
Verification Phase has a daily drawdown of 5%
Live Phase has a daily drawdown of 5%
Maximum Drawdown
Challenge Phase has a maximum drawdown of 15%
Verification Phase has a maximum drawdown of 10%
Live Phase has a daily drawdown of 10%
Funded Trader Program
Daily Drawdown
Maintain a daily drawdown limit of 5%.
Maximum Drawdown
Program imposes a maximum drawdown of 10%.
Daily Drawdown Calculations reset at 12AM GMT+2 for both MT4 and MT5 users.
For reference to MetaTrader server times:
March - October*
MT4 : 22:00 GMT+1(12am GMT+3)
MT5 : 22:00 GMT+1(12am GMT+3)
November - February*
MT4 : 22:00 GMT+0(12am GMT+2)
MT5 : 22:00 GMT+0(12am GMT+2)
*please note times are subject to change due to daylight saving time in the UK
Funded Trader Program Drawdown
Daily Drawdown
- The maximum daily drawdown threshold resets every day at 12AM GMT+2 time based on balance or equity whichever is higher during the rollover
- Initially, the daily drawdown amount is set to 5% of the balance or equity whichever is greater during the rollover. During the day if your equity goes above your balance or equity from where the daily drawdown threshold was calculated during the rollover your daily drawdown threshold also moves up and gets calculated again from your new equity high that was made during the trading day.
Examples:
Scenario 1
The trader starts with a $15,000 account and has a maximum daily drawdown limit of $750. On the first trade, they lose $500, reducing the account balance to $14,500. The trader then opens a second position, which goes into a drawdown of more than $250.
Result - The account is violated since the overall loss for the day is more than $750
Scenario 2
The trader has a $60k Account. They have a max daily drawdown of $3k initially. The trader opens the first trade and closes it with profit $2k. Their balance is now $62k, and the new daily drawdown threshold is set at $58.9k(5% of $62k). They open another trade and make a loss of $3.5k and the balance becomes $58.5k.
Result - The account is violated since the account balance reached till $58.5k whereas the daily drawdown level was set at $58.9k
Scenario 3
The trader has a $30k Account. They have a max daily drawdown of $1.5k. On the first day the max daily drawdown is set at $28.5k. The trader opens the first trade and loses $1k. The trader opens the second position and makes $800. The balance is now $29.8k. The Trader opens a new position and it is floating a $1k drawdown. The day now resets (12AM GMT+2 server time) and their max daily drawdown will be calculated based on the balance $29.8k minus the max DD on the day $1490 which equals $28,310. The trade turns around to go into profit and is floating $700 in profit. The day changes (12AM GMT+2 server time) and the trade is held overnight. The balance is $29.8k but the floating equity is $30.5k. Their max daily drawdown will be calculated based on the equity $30.5k (because it is higher than balance) minus the max DD on that day $1,525(5% of $30.5k) which equals $28,975. Without going any higher the trade reverses and comes back to break even. They close the position. Their balance now is $29.8k.
Result - The account is still valid since the current balance is above the daily drawdown level.
Maximum Drawdown
Maximum Total Drawdown | 10%
- The maximum total drawdown is 10% during the Funded Trader Program. Therefore, the equity must not fall below 90% of the initial account balance both for open and closed positions, including commissions and swaps. Example: For a $15k FTP account, your equity shall never go below $13.5k.
Comments
1 comment
Once I hit the target for the funded account amounted $500,000, should it be doubled to 1,000,000 and so on for 2,000,000, 4,000,000.....?
Please sign in to leave a comment.