FAQ
1 Step Express Model
Begin your trading journey with the first step challenge, proving your skills and eligibility.
What is the leverage in 1 step normal challenge?
We allow up to 100:1 leverage. Forex pairs are 100:1, Metals and Energies are 30:1, Indices are 20:1. Equity shares are 10:1.
How do you calculate the 6% Maximum Trailing Drawdown in 1 step normal challenge?
The maximum trailing drawdown is initially set at 6% from the starting balance of your account and is based on a fixed amount. As your account balance increases, the trailing maximum drawdown remains in effect until the 8% profit target is reached.
Example 1: If your starting balance is $100,000, you can drawdown to $94,000 before violating the Maximum Trailing Drawdown rule.
Example 2: If you take your account to $102,000 in CLOSED BALANCE, this becomes your new high-water mark, which means your new Maximum Trailing Drawdown would be $96,000.
Example 3: If you take your account ≥ $108,000 in CLOSED BALANCE, you have achieved the target, so congratulations, move to the next stage! Then the Max Trailing Drawdown will not be applicable.
Example 4: If you take your Funded account to $109,000 in CLOSED BALANCE, the maximum trailing drawdown would be locked at your starting balance of $100,000. If you don't exceed the daily loss limit of 3%, you can keep the account as long as you could.
How do you calculate the 3% Daily Loss Limit in 1 step normal challenge?
The daily loss limit is the maximum amount your account can lose in a single day. We calculate the daily loss limit using the balance from the previous day, which resets at 5PM EST. The daily loss level is determined by a fixed amount, which will be $3,000 for a $100,000 account.
Example 1: If your balance at the end of the previous day (5pm EST) was $100,000, your account would exceed the daily loss limit if your equity dropped to $97,000 during the day.
Example 2: If your floating equity is +$5,000 on a $100,000 account, your maximum daily loss for the new day (5pm EST) is based on your balance from the previous day ($100,000). Therefore, your daily loss limit would still be $97,000.
Example 3: If you make a $5,000 profit on a $100,000 account, your maximum daily loss for the new day (5pm EST) is based on the balance from the previous day ($105,000). Hence, your daily loss limit would be $102,000.
What the trading rules in 1 step Express challenge?
Achieve 8% balance growth in 45 days. Do not breach 3% daily loss limit and 6% max drawdown.
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