The Maximum Daily Loss is the amount you are allowed to lose every day. For the purpose of this rule, the higher value between equity and balance will be used. This rule is set as a % of the starting equity or balance of every day. The rule states that the equity of the day, which is the result of the currently floating PnL (Profit and Loss) in sum with all closed positions of that day must not hit the Maximum Daily Loss Limit. The daily maximum loss resets at 00:00 CE(S)T/server every day.
Example 1: Equity is higher than the balance at the start of the day
At the start of day 5, your account balance is $105.000 and your equity is $107.000. The Daily Loss Limit is 6% from the equity because it is higher:
Daily loss = $107.000 * 6% = $6,300 Daily Loss Limit.
This means your equity can’t go lower than: $107.000 – $6300 Daily Loss Limit= $100.700 on day 5.
If your equity goes below $100.700 at any certain moment in time on day 5 your account will be closed.
Example 2: Balance is higher than the equity at the start of the day
At the start of day 7, your account balance is $100.000 and your equity is $99.000. The Daily Loss Limit is 6% of the balance because it is higher:
Daily loss = $100.000 * 6% = $6.000 Daily Loss Limit.
This means your equity can’t go lower than: $100.000 – $6.000 Daily Loss Limit= $94.000 on day 7.
If your equity goes below $94.000 at any certain moment in time on day 7 your account will be closed.
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.
