This comprehensive overview will provide you with valuable information that breaks down and explains the inner workings of the profit target of our Challenges.
At My PropFirm Funds, we have a distinct and well-established trading framework, where traders are tasked with striving to achieve specific Profit Targets which are progressive to each stage. Our Challenges are divided into two phases:
Phase 1: Assessment
In this stage, the Profit Target is set at 8%. If a trader selected an Account Balance of $100,000 the target would be a profit of $8,000 (8% of $100,000). Once this Profit Target has been reached and all other criteria are met, the Challenge will transition to Phase 2.
Phase 2: Verification
In the second stage, we have set our Profit Target for our traders at 5%. If a trader successfully completes the first stage, the Profit Target will adjust to this respective percentage. The calculations for Profit Targets are based on the Total Profit generated from Closed Trades.
In this case, if a trader selected an Account Balance of $100,000 the target would be a profit of $5,000 (5% of $100,000).
Our goal is to equip you with a solid understanding of how the Profit Target functions within My PropFirm Funds Challenges. Keep in mind that accomplishing the Profit Target stands as a vital milestone in successfully advancing through each phase and making progress toward a Funded Account.
We wish you and all other traders the utmost success as you embark on your trading journey!
Related FAQs
General Queries
In your dashboard on our website, you can see “Payouts” in the menu.
A Simulated Funded Account refers to any account where a client has the potential to receive compensation based on a percentage of the virtual profit generated within that account, as determined by the virtual Profit Split associated with the account.
We want to remind you that our system automatically takes action on accounts that violate any of our drawdown rules or reach the end of their challenge period.
Once you have downloaded the client terminal, please log in on the terminal using the account login details that we provided to you, and you should be good to go!
If you happen to breach any of the Trading Objectives, that particular account will be automatically invalidated and loses eligibility to continue in the Evaluation Course.
Traders with a Simulated Funded Account will be eligible for fx payouts after 14 days of getting their funded fx account, to be eligible, the account must be in profit from the initial starting balance when the trader received the account.
We believe in constant adaptability and development when it comes to trading, therefore we do not have a minimum or maximum limit on trading days during our evaluation period.
The conditions are simulated live market conditions. If you use higher lot sizes, the chance of slippage increases. Volatile market moments increase the chance even more, which can not be controlled.
After you have passed all the Trading Objectives in the MyPropFirmFunds challenge, you will see a notification in your trading account informing you about your success.
It is crucial to remember that, in leveraged trading, managing open positions and monitoring the necessary margin level at all times is the trader’s responsibility.
If you breach any trading objective, all your open trades will be closed, your limit & stop orders will be canceled and the account is switched to view-only mode.
The bond between a trader and our affiliated Proprietary Firm is established through the Contract Agreement which will be provided to you upon successful completion of the Challenge and Verification.
In our Terms and Conditions, it is stated that all transactions made within trading accounts of our proprietary firm must not interfere with the functioning of the real market.
