We allow simulated news trading for both Phase I and Phase II of the following challenges:
Phase 1 of our Knight Challenge
Simulated Funded Account Restrictions
Once you are trading a simulated Funded Account (Regular Standard, Regular Rapid, Regular Dragon or Knight Account), we have news restrictions for 2 minutes before and after the release of a red folder event - this includes the opening/closing of market orders, and any take profit or stop losses that are triggered within this 4-minute window.
This rule applies to all instruments available on our simulated platform.
The news restriction rule does not apply if you are trading a Swing Account Type or a Royal Account.
Phase I & II News Trading
Simulated Funded Account News Trading
Regular Standard Challenge
Swing Standard Challenge
Regular Rapid Challenge
Swing Rapid Challenge
Yes (Phase I Only)
Regular Dragon Challenge
Swing Dragon Challenge
The violation process is as follows:
You will be issued a maximum of 2 warnings (soft breaches) - both of which will result in the deduction of any simulated profits made from trades executed within the restricted 4-minute window. On the third violation, the simulated account will be breached entirely. Again, please note that this rule does not apply to our Swing or Royal Accounts.
Simulated Profit deductions are processed on the following business day of the violation. In the event any deductions result in the breach of the daily or maximum loss limit, the trader is responsible for the violation.
Please review the restriction table below to see which pairs are prohibited during the following but not limited to news events:
Note: Any "All Day" marked red folder events will not be counted as news-restricted events, as there are no specified times for the data releases.
To clarify, you can still trade news only on challenge accounts and it will not be a direct violation; however, you should understand that there are occurrences where slippages occur and the trader is ultimately responsible should one cause a violation of the virtual max drawdown rules. We can not guarantee any simulated profits generated during such high-risk news events and we can’t protect you from any simulated losses taken because the trades may not actually fill or may fill causing a simulated loss once connected to a simulated Proprietary Trading Firm's capital account.
To avoid confusion, it is best to avoid trading the specific instruments affected during high-impact news releases.